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Meme-based dating app Schmooze raises $4 Mn led by Elevation

EntrackrEntrackr · 9m ago
Meme-based dating app Schmooze raises $4 Mn led by Elevation
Medial

Meme-based dating platform Schmooze has raised $4 million in a Series A funding round led by Elevation Capital. The round also saw participation from angel investors, including the founders of Ultrahuman, The Souled Store, Mosaic Wellness, and Paytm. Schmooze had previously secured $3.47 million from Inventus Capital Partners and others. The new proceeds will be used to scale user acquisition efforts, Schmooze said in a press release. Co-founded in 2021 by Vidya Madhavan and Abhinav Anurag, Schmooze combines the cultural relevance of memes with advanced AI technology, enabling users to connect based on shared humor, personality traits, and interests. The platform eliminates the hassle of superficial swipes and delves deeper into users’ personalities by analyzing their meme interactions, helping them find matches that resonate with their unique sense of humor. According to Schmooze, it features Genie, an AI dating coach, which enhances the entire dating experience, making it more engaging, authentic, and fun. It aims to counteract the loneliness and social disconnection that Gen Z faces, with features like Roast AI, which simulates conversations with a stand-up comedian, and Rant AI, a digital diary that responds to user inputs, ensuring users have companionship even when they’re not interacting with others. Schmooze claims to have attracted over 1 million users in India and witnessed 900 million meme swipes. The app also reports a 3x better ratio of female to male users compared to other mainstream dating sites.

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Comet raises $5 Mn in Series A round

EntrackrEntrackr · 1y ago
Comet raises $5 Mn in Series A round
Medial

D2C sneaker brand Comet has raised Rs 42.3 crore (approximately $5 million) in its Series A round led by Elevation Capital. This is the first round of investments for the Bengaluru-based company in 2024. The board at Comet has passed a special resolution to issue 10 equity and 50,076 Series A CCPS at an issue price of Rs 8,445 each to raise Rs 42.3 crore or $5 million, its regulatory filing accessed from the Registrar of Companies shows. Elevation Capital led the round with Rs 33.36 crore while existing investors Nexus Ventures and AngelList India participated with Rs 8.34 crore and Rs 60 lakhs respectively. The company will use these proceeds for capital expenditures, marketing, and general corporate purposes as per the business plan, the filing added. According to the startup data intelligence platform TheKredibe, Comet has been valued at around Rs 167 crore or $20 million post-allotment. The startup raised its seed capital in February last year. Following the fresh proceeds, Elevation Capital and Nexus Ventures will hold 20% each while AngelList India will command 2.22% of the capital in the company. Founded in July 2023, Comet is a homegrown, lifestyle sneaker brand for both men and women which sells its products through its website. Its current portfolio includes CometX, Aeon, and Slides. According to Comet, its TAM (total addressable market) is expected to be $22 billion while the company’s serviceable addressable market (SAM) is expected to be $1.5 billion by FY 2030. Comet competes with Wrong, HRX, Redtape, The Roadster, Campus, Sparx and other multinational footwear brands like Nike and Adidas.

MOC Cancer Care raises $18 Mn led by Elevation Capital

EntrackrEntrackr · 4m ago
MOC Cancer Care raises $18 Mn led by Elevation Capital
Medial

MOC Cancer Care raises $18 Mn led by Elevation Capital MOC Cancer Care & Research Centre, a network of community cancer centres, has raised $18 million in funding led by Elevation Capital. Previously, MOC raised $10 million from Tata Capital Healthcare Fund in January 2023 to expand its operations and technological capabilities. The proceeds will be used to expand operations, open new centres, and diversify the range of services offered, said the Mumbai-based company. It operates in the daycare oncology space, focusing primarily on chemotherapy and the medical management of cancer. Founded in 2018 by oncologists Dr Ashish Joshi, Dr Kshitij Joshi, Dr Pritam Kalaskar and Dr Vashishth Maniar, MOC is a concept turned enterprise and a chain of community cancer centres that work to simplify the journey for cancer patients by building an ecosystem that embodies crucial aspects like proximity and affordability. Over the past seven years, MOC claims to have treated over 4.5 lakh cancer patients with a highly qualified team of 47 oncologists while scaling operations to 24 centres in Mumbai, Pune, Rest of Maharashtra, Ahmedabad, Indore, and Chhattisgarh. In May 2024, the company expanded its services by joining hands with Hemato Oncology Clinic (HOC), which was the second-largest independent chain of community cancer care centres in India. This merger has allowed the company to expand its operations in the state of Gujarat. MOC will soon expand its operations in Delhi NCR and other parts of India and develop a molecular oncology lab. Recently, Vivek Mathur, Partner and Chief Operating Officer (COO) at Elevation Capital, left the venture capital firm after 14 years to focus on advisory and mentorship.

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