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MC Exclusive | Arbour Investments picks up a stake in prop-tech firm Justo Realfintech for $7 mn

Money ControlMoney Control · 1y ago
MC Exclusive | Arbour Investments picks up a stake in prop-tech firm Justo Realfintech for $7 mn
Medial

Arbour Investments has acquired a "significant" minority stake in property technology firm Justo Realfintech for $7 million, with $5 million in equity and the rest in debt. The investment unlocks synergies with Arbour's existing and future investments. As part of the deal, Arbour's founders, Chirag Mehta and Priyesh Chheda, have joined Justo's board of directors. Justo focuses on the mid-ticket-size property segment and operates primarily in Pune and the Mumbai metropolitan region, providing market intelligence, negotiation support, and sales partnerships for real estate projects. Arbour Investments has signed term sheets for investments totaling around Rs 350 crore ($47 million).

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Exclusive: Speciality chemicals startup Scimplify to raise $5 Mn

EntrackrEntrackr · 1y ago
Exclusive: Speciality chemicals startup Scimplify to raise $5 Mn
Medial

Scimplify, a platform for all sourcing and manufacturing of specialty chemicals, is raising a new round to the tune of $5 million, sources aware of the development told Entrackr. The new round is coming just after six months for the Bengaluru-based firm. “Omnivore is leading $5 million in Scimplify while existing backers will also double down,” said one of the sources requesting anonymity. Scimplify raised $3.67 million in its seed round from 3one4 Capital and Beenext in December last year. Founded by Salil Srivastava and Sachin Santhosh, Scimplify is a B2B fulfillment platform operating across the product life cycle from contract research to commercial chemical manufacturing across industries such as pharmaceutical, personal care, and agrochemical. During the last fundraise, Scimplify had said that it plans to expand its reach to 20 countries and 4 new categories in chemicals. Currently, it has manufacturing facilities in Karnataka, Hyderabad and Gujarat. “The deal is almost finalized and it will value Scimplify in the range of $20-25 million,” said another source. As per sources, Omnivore saw potential in Scimplify’s product portfolio of agrochemicals. According to the company’s website, it offers emulsifiers, plant growth stimulators, biostimulants, adjuvants, and biofertilizers, among others. As per startup data intelligence platform TheKredible, 3one4 Capital controls 17% in Scimplify while Beenext had 7% holding as of seed round. Co-founders collectively hold nearly 65% stake in the company. Queries sent to Scimplify co-founder Srivastava and Omnivore did not elicit response until publication of the story. Scimplify competes with Atomgrid and Covvalent. Bengaluru-based Atomgrid raised $1.2 million in its seed round led by Merak Ventures in May this year while Covvalent scooped up $4.3 million led by Nexus Venture Partners in November 2022. In June 2023, impact venture capital firm Omnivore announced the first close of its third fund at $150 million to make 25-30 new investments in seed and Series A rounds. Some of its portfolio companies include DeHaat, Arya, Stellapps, Reshamandi, Ecozen, Aquaconnect, and Pixxel.

Exclusive: Wondrlab to raise fresh funds at $90 Mn valuation

EntrackrEntrackr · 23d ago
Exclusive: Wondrlab to raise fresh funds at $90 Mn valuation
Medial

Exclusive: Wondrlab to Raise Fresh Funds at $90 Mn Valuation Martech platform Wondrlab is set to raise Rs 40.8 crore (around $4.6 million) in a fresh funding round led by Wildflower Private Trust with the participation of existing investors Pi Ventures, Tanas Capital, and others. This is the first funding in four years for the marketing firm since it raised $7 million in its seed round in October 2021. The Wondrlab’s board passed a resolution to approve the issue of 7,744 preference shares and 500 equity shares at an issue price of Rs 49,472 each to raise the mentioned sum, according to its regulatory filing from Registrar of Companies (RoC). Wildflower Private Trust will be leading the round with a Rs 12.5 crore investment, while existing investors Pi Ventures and Tanas Capital will infuse Rs 9.85 crore and Rs 6.7 crore, respectively. The rest of the amount will be contributed by a group of angel investors including Nazara’s promoters Nitish Mittersain and Vikash Mittersain. The company will also allot equity shares to the co-founders of its recently acquired firm, BigStep Tech. According to Entrackr’s estimates, the Mumbai-based company will be valued at around Rs 796 crore or $90 million post-money. Founded in 2020 by Saurabh Varma, Vandana Verma, and Rakesh Hinduja, Wondrlab is a platform-first martech startup specializing in technology, digital, and programmatic advertising. Following the latest allotment, Pi Ventures will hold an 11.5% stake, while Tanas Capital will own 7.82%. New investor Wildflower Private Trust will acquire 1.5%, and the promoters will collectively retain a 60.53% stake. For the fiscal year ended March 2024, Wondrlab’s operating revenue tripled to Rs 189 crore from Rs 63 crore in FY23, while profit surged to Rs 11 crore. It has yet to file its FY25 numbers.

Venturi picks up over 5% stake in Peak XV-backed K12 Techno for $27 Mn

EntrackrEntrackr · 1y ago
Venturi picks up over 5% stake in Peak XV-backed K12 Techno for $27 Mn
Medial

Venturi Partners has announced a purchase of a $27 million worth stake in K12 Techno Services from Navneet Learning LLP, subsidiary of Navneet Education Limited. This is the second secondary round in K12 Techno in the last eight months. In a stock exchange filing, Navneet Education Ltd disclosed that it will divest 5.12% stake in K12 Techno against $27 million. It will also retain a 14.35% stake in the firm after this transaction. This roughly valued the Bengaluru-based firm at around $540 million. Investing out of its $180 million maiden fund, Venturi will join K12 Techno’s existing shareholders such as Peak XV Partners, Kedaara Capital, Sofina Ventures, and Navneet Learning LLP, to support the management team led by Jai Decosta, CEO of K12 Techno. For the uninitiated, K12 Techno runs the chain of Orchids International Schools. The 14-year-old company provides full stack education, content, and technology services to more than 900 educational institutions across the country through a combination of its own brand and a curriculum and technology platform. The firm provides management services to ICSE and CBSE curriculum schools from kindergarten to X-XII, based in large metros like Bengaluru, Mumbai and Gurugram under the ‘Orchid’ brand. As per the company, its brand, content and technology has been used by over 300,000 students in the K-12 space in India. It also claimed to have grown at a CAGR of 40% over the last five years. In September, K12 Techno raised investment from Kedaara Capital against a significant minority stake in the company. It also provided a partial exit to Peak XV Partners (formerly known as Sequoia Capital India). Check startup data intelligence platform TheKredible for the complete shareholding pattern. With this, K12 Techno will join Venturi Partners’ portfolio of consumer-focused investments in India and Southeast Asia which includes Livspace, Country Delight, Believe, Pickup Coffee, and DALI. According to TheKredible, the company registered Rs 382 crore in revenue in FY23 with Rs 39 crore loss. The firm expected to close FY24 with Rs 450 crore with EBITDA of nearly Rs 100 crore.

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