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News on Medial
Minimalist fails to attract investors after seeking fourfold jump in valuation
Livemint
·
1y ago
Medial
Skincare startup Minimalist has failed to secure funding from investors, including Verlinvest and Premji Invest, after seeking a fourfold increase in valuation. The startup aimed for a valuation of over $300 million, compared to $76 million in its previous round. L Catterton, another potential investor, did not proceed with discussions. While Minimalist justifies its higher valuation by being profitable since its inception, investors are hesitant to meet the high ask in the current market conditions. The company plans to reconsider if the valuation becomes more suitable. Minimalist's revenue in FY23 was INR 188 crore, with a net profit of INR 5.2 crore.
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BharatPe in talks to raise $100 million in equity round
Economic Times
·
1y ago
Medial
New Delhi fintech startup BharatPe is in talks with existing investors to secure $100 million in fresh equity funding and is also seeking a new investor. Despite ongoing top-level talent departures, the company remains focused on profitability and preparing for an IPO. However, the funding round is expected to be negotiated at a lower valuation than the previous one in 2021 when BharatPe was valued at $3 billion. The company is considering a valuation of around $2 billion in this round to attract fresh capital and fuel its growth plans.
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Infra.Market bags ₹1,050 crore at $2.8 billion valuation
Inshorts
·
7m ago
Medial
IPO-bound Infra.Market has raised ₹1,050 crore in its pre-IPO round at a valuation of about $2.8 billion, a jump of over 10% from its valuation of $2.5 billion during the previous funding round. The fundraise, termed as its Series F round, saw participation from existing investors Tiger Global, Foundamental GmbH, Evolvence, among others.
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Kotak PE to tap domestic investors for new lifesciences fund
Livemint
·
9m ago
Medial
Kotak Mahindra's private equity arm is seeking to attract domestic institutional investors (DIIs) for the first time in its two-decade history. The firm has previously raised capital solely from global investors but is now looking to launch a lifesciences fund aimed at local investors after gaining regulatory approval. Kotak Alternate Asset Managers believes that DIIs, such as insurance companies and pension funds, have not fully utilised their permissible investment limits and are becoming more open to investing in alternative investment funds. The move comes as Kotak Mahindra reorganised its alternative investment operations under one umbrella last year.
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Exclusive: AI storage platform Vast Data aimed for $25B valuation in new round, sources say
TechCrunch
·
2m ago
Medial
Vast Data, an AI-friendly storage platform, seeks to raise a new funding round at a $25 billion valuation, a significant jump from its $9 billion valuation in December 2023. The company offers data management software with unified hardware, eliminating traditional storage tiers. Its platform, benefitting from AI growth, supports companies like Pixar and xAI, with an annual recurring revenue of $200 million and notable investors including Fidelity Management and NEA.
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Not built in Delhi, Mumbai, B'luru: Aman Gupta on ₹2,955 cr Minimalist-HUL deal
Inshorts
·
7m ago
Medial
Entrepreneur Aman Gupta lauded HUL's acquisition of a 90.5% stake in Minimalist for ₹2,955 crore, calling it a "big win for entire Indian D2C (direct-to-consumer) ecosystem". "Built NOT from Delhi, Mumbai or Bengaluru but Jaipur," Gupta posted on X about Minimalist. "10x return to investors, largest all-cash D2C acquisition...Founders held stake will make more than ₹1,000 crore," he added.
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Nvidia in talks to invest in Musk's AI startup xAI: Reports
Inshorts
·
9m ago
Medial
Jensen Huang-led chipmaker Nvidia is planning to invest in Elon Musk's artificial intelligence startup xAI, reports said. xAI is planning to raise funds in a round which may see its valuation jump to $75 billion by January 2025, the reports added. This comes after xAI announced that it is building an AI supercomputer called 'Colossus'.
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SoftBank back at deal counter with Icertis deal talks
Economic Times
·
1y ago
Medial
SoftBank, the renowned technology investor, is reportedly considering new deals in India after focusing on exits last year. The Tokyo-based firm is in early talks to increase its investment in software firm Icertis, which is seeking $150 million in a new funding round. Other existing investors may also participate. Additionally, SoftBank's Vision Fund is looking to invest in e-commerce firm Meesho as part of a broader funding round. SoftBank is actively reviewing potential investments after a period of inactivity. The valuation and pricing of the deals are still under discussion.
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HUL acquires 90.5% stake in Minimalist at Rs 2,955 Cr valuation
Entrackr
·
7m ago
Medial
HUL acquires 90.5% stake in Minimalist at Rs 2,955 Cr valuation Hindustan Unilever Limited (HUL), a fast-moving consumer goods company, has acquired the homegrown skincare brand Minimalist at a pre-money valuation of Rs 2,955 crore (nearly $350 million). The board at HUL has entered into the Share purchase agreement for the acquisition of 90.5% of Minimalist shares at a cash consideration of Rs 2,670 crore (secondary buyout) along with Rs 45 crore as a primary infusion in the company. The transaction is expected to be completed in Q1 of FY 2026 and the remaining 9.5% shareholding of Uprising in about two years from the completion date, the filing sourced from NSE added. This is one of the largest deals in the direct-to-consumer (D2C) space in recent years. Founded by serial entrepreneurs Mohit and Rahul Yadav, Minimalist is a skin and hair care brand offering products such as serums, toners, and moisturizers. The sale of these products was the sole source of revenue for the brand in the last fiscal year. The founder duo will continue to lead the company for next two years. Minimalist's revenue surged to Rs 347 crore in FY24 from Rs 184 crore in FY23. Despite higher marketing costs, profits doubled to Rs 10.83 crore in FY24. According to the company, the business has rapidly scaled to cross an annual revenue runrate (ARR) of Rs 500 crore in a short span of four years. Minimalist has raised $17 million, including a Series A round led by Peak XV, which holds a 27.9% stake. Co-founders Mohit and Rahul Yadav control 62% of the company.
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Adani is said to plan raising $1.2 billion for flagship firm
Livemint
·
1y ago
Medial
Adani Enterprises Ltd, the flagship firm of Indian billionaire Gautam Adani, is reportedly considering raising around $1.2 billion to $1.4 billion through a share sale. The company may opt for a qualified institutional placement (QIP), with the fundraising potentially taking place in September. Adani Group is seeking institutional investors, particularly from the US, to expand its shareholder base and attract more research analysts. Details of the share sale, including size and timing, are yet to be finalized. The potential fundraising comes after Adani Energy Solutions Ltd recently raised $1.13 billion through a share sale.
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ChrysCapital, Theobroma, ICICI Prudential in news
VCCircle
·
5m ago
Medial
ChrysCapital is in talks to acquire Theobroma Foods at a reduced valuation of approximately Rs 1,800 crore ($206 million), after previous negotiations halted due to the bakery chain's financial challenges. Initially, Theobroma's valuation was pegged at Rs 3,000 crore, but interested parties have since offered lower amounts. This discussion follows Theobroma's efforts to attract investment while facing financial performance issues. ChrysCapital's renewed interest highlights ongoing movements in the private equity and food retail sectors.
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