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Exclusive: DealShare co-founder’s new startup Sports For Life raises seed round

EntrackrEntrackr · 9m ago
Exclusive: DealShare co-founder’s new startup Sports For Life raises seed round
Medial

Sourjyendu Medda, co-founder of social commerce platform DealShare, has ventured into the sportstech space with his new startup, Sports For Life, which aims to invest in and support the sports ecosystem in India, focusing on providing athletes with the necessary resources to excel. While Sports For Life has yet to announce its official launch, the Bengaluru-based startup has raised seed funding from individual investors and early-stage venture capital firm Roots Ventures. The board of Sports For Life’s parent company, Jambavan Academy, has passed a special resolution to issue 3,000 Seed CCPS to raise Rs 9.5 crore, according to its regulatory filings accessed by Entrackr. Roots Ventures invested Rs 5 crore, while ML Tondon and Sons HUF and Blume Ventures pumped in Rs 3 crore and Rs 1 crore, respectively. The rest of the amount was poured in by Kunal Shah’s QED Innovation and Himanshu Arora. According to TheKredible, the company is valued at Rs 36.65 crore ($4.3 million) following this seed round. Following the fresh funding, Roots Ventures has become the largest external stakeholder with a 12.08% stake, followed by ML Tandon HUF and Blume Ventures. Co-founders Sourjyendu Medda and Armaan Tandon collectively hold 66.83% of the company. See TheKredible for the detailed shareholding pattern. According to the firm’s website, Sports For Life is investing in sports academies across India, with the goal of creating a sports ecosystem that elevates the overall standard of sports in the country. Medda, who was one of the co-founders and a board member of DealShare before leaving in January, has also roped in Armaan Tandon, a former data and operations analyst at Cartesian, as a co-founder of Sports For Life. In 2024, several prominent startup founders have launched new ventures, many of which have already secured initial funding. Notable launches include ZeroPe by BharatPe co-founder Ashneer Grover, OppDoor by Flipkart co-founder Binny Bansal, Unikon by Bella Vita founder Aakash Anand, Gabit by Zomato co-founder Gaurav Gupta, Callmatic by Mitron TV co-founder Shivank Agarwal, and Lyskraft and Nurix AI by Cult.fit co-founder Mukesh Bansal.

Mohit Gupta, Mukesh Bansal’s omnichannel fashion startup Lyskraft raises $26 million in seed funding

Economic TimesEconomic Times · 1y ago
Mohit Gupta, Mukesh Bansal’s omnichannel fashion startup Lyskraft raises $26 million in seed funding
Medial

Former Zomato executive Mohit Gupta and Myntra founder Mukesh Bansal have raised $26 million in seed funding for their omnichannel fashion startup Lyskraft. The investment will be used to build an online marketplace for premium brands, starting with women's fashion and expanding into other lifestyle categories. The funding round was led by Peak XV Partners, with participation from investors such as Prosus, Sofina, and DST Global. Gupta will serve as the CEO of Lyskraft, while Bansal will be a strategic advisor and shareholder. The company aims to capture a significant portion of India's premium fashion market, which is estimated to be worth billions of dollars.

Peeyush Ranjan joins Meraki Labs to lead AI Strategy

EntrackrEntrackr · 2m ago
Peeyush Ranjan joins Meraki Labs to lead AI Strategy
Medial

Peeyush Ranjan, former CTO of Flipkart and ex-Google executive, has joined Mukesh Bansal’s startup incubator Meraki Labs as a partner. Ranjan will focus on advancing Meraki’s AI strategy and expanding its footprint in Silicon Valley. He will collaborate with entrepreneurs at the incubator to refine their tech and product approaches. Ranjan will also play a strategic role in shaping the AI direction of Meraki Labs. Additionally, he will join the board of Nurix AI, a startup founded by Bansal under Meraki Labs, which raised $27.5 million in seed and Series A funding from Accel and General Catalyst. Prior to Meraki Labs, Ranjan served as VP of Engineering at Google, leading AI-driven initiatives like Google Assistant.

F&B startup Nuvie raises $450K in pre seed round led by PedalStart

EntrackrEntrackr · 1m ago
F&B startup Nuvie raises $450K in pre seed round led by PedalStart
Medial

Snippets F&B startup Nuvie raises $450K in pre seed round led by PedalStart F&B startup Nuvie has raised $450K (about Rs 3.8 crore) in its maiden pre seed funding round led by startup accelerator PedalStart, along with participation from Mukesh Bansal (founder of Myntra, Cult.fit, and Nurix), Ayyappan R, Chanakya Gupta, and Arun Sharma. The proceeds will be allocated towards new product development, brand building initiatives, content creation, expanding distribution, and unlocking growth opportunities. Co founded in May 2024 by Prashant Paliwal and Hem Narayan, Nuvie aims to redefine healthy eating in India with “better for you” products such as improved milkshakes and chocolates that make wellness enjoyable and accessible. Its approach is to break the stigma and seriousness often associated with health, making it feel effortless, enjoyable, and part of a natural lifestyle. Having launched its lactose free Ready to Drink Protein Shake in three flavours, it is now introducing five new shake variants. The product pipeline also includes innovative offerings like a protein chocolate bar, a healthier spin on traditional chocolates, and protein infused cold coffee, or “Proffee.” Nuvie says it has expanded its footprint and is now available in more than 100 premium retail stores across major metros like Delhi, Mumbai, Hyderabad, and Chennai. Its products are also present in over 200 gyms and are reaching customers nationwide through key quick commerce platforms such as Blinkit, Instamart, and BigBasket. The brand is focused on scaling its online presence via its own website and quick commerce channels. The Bengaluru based startup claims to have seen strong early traction, clocking over Rs 10 lakh in monthly revenue from its very first month of launch. It is now aiming to close CY 2025 at an ARR of Rs 10 crore.

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