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Modulus Housing raises Rs 70 Cr in Series A round

EntrackrEntrackr · 2h ago
Modulus Housing raises Rs 70 Cr in Series A round
Medial

url: https://entrackr.com/news/modulus-housing-raises-rs-70-cr-in-series-a-round-10830476 Content: Modulus Housing raises Rs 70 Cr in Series A round Proptech startup Modulus Housing has raised Rs 70 crore ($7.83 million) in its Series A round led by Kalaari Capital, Hero, and Samarthya. The round also saw participation from SVAS, Sigma, Zetwerk founder Srinath, Sanjiv Rangrass, and other investors. This is the company’s first institutional funding. Founded in 2018 by Shreeram Ravichandran and P. Gobinath, Modulus Housing operates a factory-made construction model for modular buildings. It uses a cloud manufacturing network made up of partner factories and a proprietary product suite to produce structures for low-rise infrastructure. The company claims to run a profitable business with cumulative revenue of more than Rs 200 crore. The company’s operating revenue increased 38% to Rs 54 crore in FY24 from Rs 39 crore in the previous fiscal year. It didn’t disclose its FY25 numbers. The proceeds will be used for market expansion across India and select global markets, advanced R&D, a next-generation concrete modular system, and scaling its cloud manufacturing network. Modulus also plans to expand its green concrete technology for distributed infrastructure use cases. According to the company, it has completed more than 1,500 buildings across 21 Indian states and parts of Africa. These include modular hospitals, cold storage units, site offices, schools, and distributed infrastructure projects. Modulus Housing is headquartered in Chennai and plans to expand operations across India and emerging markets.

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Student housing startup Your-Space raises $8.2 Mn debt

EntrackrEntrackr · 8m ago
Student housing startup Your-Space raises $8.2 Mn debt
Medial

Exclusive: Student housing startup Your-Space raises $8.2 Mn debt Student housing startup Your-Space has raised Rs 70 crore (approximately $8.2 million) in debt led by existing investor Shantanu Rastogi, Managing Director of General Atlantic. The round also includes participation from other existing investors, including Castle Investments and Ajax Capital. The board at Your-Space has passed a special resolution to issue 10,14,493 compulsory convertible debentures (CCDs) at an issue price of Rs 690 each to raise Rs 70 crore, according to its January regulatory filing accessed from the RoC. Shantanu Rastogi led the round with an investment of Rs 25 crore, followed by new investor Ashish Kacholia, who will contribute Rs 10 crore. Other notable investments include Rs 7.5 crore each from Satyadharma Investments and Castle Investments, while Ajay Gupta’s family office, Ajax Capital, and Holy Basil Consultancy will invest Rs 5 crore each. The company has already received approximately Rs 51 crore out of Rs 70 crore while the rest of the amount will follow soon. The fresh proceeds will be used for working capital requirements, creditor payments, and other general business operations, the filings added. Notably, the conversion of debentures into equity shares will be done at the valuation of Rs 185 crore against the above-mentioned sum at a later date, the filings further added. Your-Space is a student housing company offering affordable PGs, hostels, and co-living spaces for both girls and boys. With over 60 smart spaces, the company integrates tech-enabled safety features, including facial recognition, biometrics, and digital locks. According to startup data intelligence platform TheKredible, the company has raised around $17.6 million in funding including both debt and equity including a $10 million Series A round raised in January 2022 led by Shantanu Rastogi. The Delhi-based company reported over 20% year-on-year growth in operating revenue to Rs 142.7 crore in FY24, compared to Rs 117.2 crore in FY23. The Delhi-based company also posted a loss of Rs 30.7 crore during the same period.

HooLiv raises Rs 24 Cr in pre-Series A round led by Negen Capital

EntrackrEntrackr · 1m ago
HooLiv raises Rs 24 Cr in pre-Series A round led by Negen Capital
Medial

HooLiv raises Rs 24 Cr in pre-Series A round led by Negen Capital Student co-living platform HooLiv has raised Rs 24 crore ($2.73 million) in a pre-Series A funding round led by Negen Capital, along with participation from other institutional investors, family offices, and angel investors. The proceeds will be used to expand HooLiv’s operations in non-metro cities through new bed acquisitions, brand-building, and enhancements to its property management platform. The company also plans to replicate its business model internationally. Founded by Chinmoy Mishra, Rasmi Mishra, Gaurav Vij, and Abhishek Verma, HooLiv operates purpose-built student accommodations that cater to students in universities and coaching hubs. The platform focuses on providing organized, technology-enabled student housing that ensures standardized operations, consistent living conditions, and cost efficiency for both property owners and students. HooLiv’s model combines real estate management and technology to offer integrated housing solutions, including maintenance, security, and community engagement features. The company works with property owners and educational institutions to convert and manage large-scale facilities as student housing assets. HooLiv plans to bridge the demand-supply gap in India’s organized student housing segment, driven by the growing number of universities and coaching centers across the country.

Exclusive: Altum Credo to raise Rs 100 Cr in Series C round

EntrackrEntrackr · 4m ago
Exclusive: Altum Credo to raise Rs 100 Cr in Series C round
Medial

Housing finance company Altum Credo is raising Rs 100 crore (approximately $11.8 million) in its ongoing Series C round from existing investor British International Investment. This will follow its $40 million Series C round in April last year, which comprised $27 million in primary capital and $13 million in secondary transactions, providing a partial exit to its early investors. The board at Altum Credo passed a resolution to issue 57,80,347 Series C1 CCPS at an issue price of Rs 173 each to raise Rs 100 crore, according to its regulatory filing accessed from Registrar of Companies (RoC). The proceeds from this funding will be used to expand the company’s lending operations and geographic reach, filling added. According to Entrackr’s estimates, the company will be valued at Rs 1,694 crore (approximately $200 million) post-allotment, reflecting a 60% increase from its $124 million valuation in the previous fundraise. Founded in 2016, Altum Credo provides housing finance to economically weaker and low-income groups, offering home loans ranging from Rs 4 lakh to Rs 40 lakh for tenures of 5–20 years. It focuses on first-time homebuyers in semi-urban and rural India. According to startup data intelligence platform TheKredible, the Pune-based company has raised $70 million since inception. Following the allotment of this round, British International Investment will be holding a 9.04% stake in the company while its promoters Ganesh Rao, Ashish Tiwari and Vikrant Bhagwat will collectively retain a 18.26% stake. In the fiscal year ended March 2024, Altum Credo posted a 67% increase in operating revenue to Rs 112.87 crore, while its profit more than doubled to Rs 20 crore during the same period. Apart from Altum Credo, players like Aviom, Easy Home Finance, Basic Home Loan, and Andromeda also operate in the same space.

Bubble tea brand Boba Bhai raises Rs 30 Cr in Series A round

EntrackrEntrackr · 10m ago
Bubble tea brand Boba Bhai raises Rs 30 Cr in Series A round
Medial

Bubble tea brand Boba Bhai, a quick-service restaurant (QSR) brand focused on bubble tea and other food items, has raised Rs 30 crore (around $3.4 Mn) in its Series A round led by 8i Ventures. The round also saw participation from existing backers, including Titan Capital Winners Fund, Global Growth Capital, and DEVC among others. Earlier, the startup raised Rs 12.5 crore in its seed round led by Titan Capital and Global Growth Capital UK. The proceeds will be used to expand to new cities, scale operations, and introduce innovative menu offerings. Founded by Dhruv Kohli, Boba Bhai currently has 42 outlets in nine cities and plans to open over 150 stores by the end of the year. Approximately 70% of orders are generated through its website and platforms like Zomato, Swiggy, and ONDC.

Ice cream brand Hocco raises Rs 115 Cr at Rs 2,000 Cr valuation

EntrackrEntrackr · 2m ago
Ice cream brand Hocco raises Rs 115 Cr at Rs 2,000 Cr valuation
Medial

Ice cream brand Hocco raises Rs 115 Cr at Rs 2,000 Cr valuation Premium ice cream brand Hocco has raised Rs 115 crore (around $13 million) in a fresh funding round led by existing backer Sauce.vc, taking the company’s valuation to Rs 2,000 crore. The funding comes less than three months after the firm raised $10 million in its Series B round led by Chona Family Office and Sauce.vc. It had also raised $12 million in its Series A round from the same investors at a valuation of Rs 600 crore ($70 million) in June last year. The fresh proceeds will be used towards expanding manufacturing capacity, strengthening cold-chain and logistics, scaling new product innovation, and extending its footprint across India and select global markets. By summer 2026, Hocco plans to reach 3 lakh litres in daily production capacity, making it one of the largest and most advanced ice cream manufacturing setups in the country. Founded by the Chona family, Hocco offers products across retail stores, quick commerce platforms, and out-of-home touchpoints. Its product line includes various flavours, formats, and packs designed for everyday use and modern retail channels. Hocco has built traction among consumers across retail, quick commerce, and travel-linked outlets through its ingredients, flavours, and distribution models. Hocco recently said it closed FY25 with revenue of Rs 220 crore. However, it did not comment on its loss numbers. According to startup data intelligence platform TheKredible, the company reported revenue of Rs 32.38 crore in FY24 with a Rs 20.23 crore loss. Besides legacy players such as Amul, Vadilal, and Hindustan Unilever (HUL), Hocco competes with new-age ice cream brands such as Walko Foods’ NIC, Hangyo, Go Zero, NOTO Ice Cream, among others.

Luggage brand EUME raises Rs 15 Cr in new round

EntrackrEntrackr · 1y ago
Luggage brand EUME raises Rs 15 Cr in new round
Medial

EUME, a sustainable and eco-conscious luggage brand, has raised Rs 15 crore ($1.7 million) in a new round led by Ashish Kacholia. This is the second funding raised by the Mumbai-based startup. In February last year, EUME had raised an undisclosed amount from Mumbai Angels. The proceeds will be used to ramp up operations, expand the team, drive innovation, build an offline retail presence, invest in technology and enhance brand awareness. Founded by Naina Parek, the startup offers a diverse product portfolio, which includes luggage, backpacks, vegan handbags, and accessories, among others. Last year, EUME claimed to have clocked a monthly run-rate of Rs 1.8 crore.It targets a revenue of Rs 65-70 crore by the end of FY25. Its sales are split evenly between its own website and marketplaces. The startup also plans to launch its flagship store in Mumbai this year. Earlier this year, luggage brand Mokobara raised $12 million in a Series B funding round led by Peak XV Partners. Besides Mokobara, EUME also competes with Assembly and Uppercase.

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