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Mars Growth eyes Meesho’s secondary round
The Arc Web
·
1y ago
Medial
Singapore's Mars Growth Capital is in talks to acquire a stake in ecommerce platform Meesho. They are expected to purchase a significant number of shares in a secondary deal through their $500 million Dragon Fund. Existing investor Peak XV Partners (formerly Sequoia India) is also looking to increase their stake through their growth fund. Other investors, including Tiger Global, are considering investments as well. In the secondary round, Facebook parent Meta, Venture Highway, and several angels will sell their holdings in Meesho. The company reported profitability in the July-September quarter of last year, making it more attractive to new investors.
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Mars Growth to lead Meesho’s secondary round
The Arc Web
·
1y ago
Medial
Singapore's Mars Growth Capital is looking to acquire a stake in Meesho, an ecommerce platform. Through its Dragon Fund, Mars is expected to purchase the largest block of shares in the secondary deal. Existing investor, Peak XV Partners, is also planning to increase its stake through its growth fund. Other investors, including Meta, Venture Highway, and a group of angels, will sell their holdings in Meesho as part of the secondary round, which is estimated to be worth $200-250 million. Meesho reported profitability in Q3 2021, with a profit after tax of $7 million on revenues of $227 million.
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Qure.ai Eyes Up To $60 Mn Funding To Push Its Radiology Diagnosis Play
Inc42
·
10m ago
Medial
Mumbai-based medtech startup Qure.ai is planning to raise $50-60 million in a funding round led by Lightspeed. The round is expected to include a secondary deal along with primary capital from existing investors. Lightspeed is looking to invest $20-25 million and may also purchase some secondary shares.
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Meesho Eyes Larger $500 Mn-$650 Mn Round At Lower Valuation: Report
Inc42
·
1y ago
Medial
Indian e-commerce platform, Meesho, is reportedly increasing the size of its upcoming funding round to $500-650 million, from the initial target of $300 million, due to strong investor interest. The funding round is expected to be led by Tiger Global and Peak XV Partners, with participation from SoftBank, WestBridge Capital and Mars Growth Capital. It is reported that $300 million of the funding will be designated for settling taxes incurred during the transfer of the company's domicile from Delaware to India. The round is expected to value Meesho at $3.9 billion, a 20% decrease from its previous valuation of $4.9 billion.
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Jewellery retailer Kushal’s eyes 50% growth after Lighthouse round
The Arc Web
·
1y ago
Medial
Bengaluru-based jewellery retailer Kushal's has raised $34 million in funding from private equity firm Lighthouse to expand its business. The company aims for 50% revenue growth in FY25, with a projected 40% growth for the current fiscal year. Despite having 80% of its sales from physical stores, Kushal's is also focusing on its website and external marketplaces. In FY23, the company reported revenues of Rs 196 crore ($23.6 million) and a net profit of Rs 16 crore ($2 million). The funding round included a secondary component, with India SME Investments selling a portion of its shares.
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Medibuddy eyes $130 million in pre-IPO
Economic Times
·
2m ago
Medial
Health-tech firm Medibuddy initially sought to raise $130 million in a pre-IPO round but clarified it's targeting $60 million instead. The fundraising, led by Avendus Capital, includes $25-30 million in primary capital and $30-35 million for secondary investors, primarily offering exits for early angel investors. Medibuddy, founded by IIT Madras alumni, prioritizes building a sustainable healthcare market leader and is not rushing towards an IPO, despite its long-term plans.
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A91, MO Alts join race for stake in HealthKart; Dashtoon eyes fresh funds
VCCircle
·
1y ago
Medial
A91 Partners and Motilal Oswal Alternates have joined ChrysCapital in the race to acquire a stake in HealthKart as Peak XV Partners plans to exit the Temasek-backed startup. The investment round will mainly consist of secondary components, but may also include some primary components. Talks are ongoing, with A91 Partners seeking to increase its existing stake.
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Carlyle-backed Varmora eyes funding; Axis Cap appoints new ECM head
VCCircle
·
1y ago
Medial
Sanitaryware manufacturer Varmora Granito, backed by Carlyle Group, aims to raise $100-150 million in a pre-IPO funding round, valuing the company at around $600 million. The fundraising will involve primary and secondary investments from private equity investors, with significant interest from GIC and other funds. Meanwhile, Axis Capital has appointed a new Head of Equity Capital Markets (ECM) to strengthen and expand its ECM business.
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Geniemode eyes ₹500 cr fundraise from new and existing investors
Livemint
·
8m ago
Medial
Bengaluru-based startup Geniemode is reportedly seeking to raise around ₹500 crore ($67 million) from a mix of primary and secondary transactions. The funding round is expected to value the company at $350 million. Private equity firm Multiples and Nandan Nilekani's Fundamentum are said to be evaluating the investment opportunity. Geniemode, which operates as a sourcing platform for B2B buyers in the furniture, home textile, apparel, and accessories sectors, previously raised $28 million in a series B funding round in 2022. The company claims to have over 100 buyers and 250 suppliers across 16 countries, and its revenues in FY23 reached ₹220.4 crore.
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OfBusiness to raise up to $200 mn, eyes $6 bn value
Livemint
·
1y ago
Medial
Business-to-business (B2B) marketplace OfBusiness is seeking to raise $150-200 million in a funding round to achieve a valuation of $6 billion. The Delhi-based company has approached sovereign wealth funds, private equity funds, and crossover funds for investment and has appointed Avendus as its investment bank. OfBusiness, which provides purchasing services to manufacturing and infrastructure companies, was last valued at $5 billion in 2021. The new funding round will comprise primary and secondary funding, with some early backers looking to sell shares. OfBusiness is eyeing an IPO within the next 12-24 months.
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Carlyle-backed Varmora eyes a pre-IPO fundraising round of up to $150 mn
Livemint
·
1y ago
Medial
Varmora Granito, a sanitaryware maker backed by Carlyle Group, is looking to raise $100-150 million in a pre-public listing round. The fundraising, which includes primary and secondary investments, is expected to value the company at nearly $600 million. Carlyle is likely to sell some of its stake in the round and partially during the IPO. The company, based in Morbi, Gujarat, has received interest from investors including GIC and 360 One. Varmora Granito aims to list on Indian bourses within the next 18-24 months.
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