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Neo San, two others raise equity funding, Celebal secures debt investment

VCCircle

VCCircle · 1y ago

Neo San, two others raise equity funding, Celebal secures debt investment

Climatetech startup Neo San, machinery manufacturer Autocracy Machinery, and sportstech startup Machaxi have all secured funding. Neo San raised $1.5 million in a seed funding round, Autocracy Machinery raised $598,833 in a pre-Series A round, and Machaxi secured $574,843 in a pre-Series A round. Additionally, software consulting firm Celebal Technologies raised an undisclosed amount of debt funding. These companies will use the funds for various purposes such as scaling technologies, developing new technology, expanding markets, and enhancing market penetration.

Related News

TaxiForSure cofounder's fintech venture Zolve secures $100 million debt facility

Money Control

Money Control · 1y ago

TaxiForSure cofounder's fintech venture Zolve secures $100 million debt facility

Zolve, a cross-border neo-banking platform, has obtained a $100 million warehouse debt facility from Community Investment Management (CIM). The funds will be utilized to offer credit products to migrants in the US, according to Zolve. The startup provides financial services, checking accounts, and credit cards to Indian immigrants relocating to the US. Zolve plans to expand its presence in countries such as the UK, Canada, and Australia, following this funding. In previous funding rounds, the company raised $15 million in seed funding and $40 million in Series A funding.

Pickled vegetable maker Neo Foods prepares for maiden PE fundraise

VCCircle

VCCircle · 2m ago

Pickled vegetable maker Neo Foods prepares for maiden PE fundraise

Neo Foods Pvt Ltd, a Bengaluru-based company specializing in pickled and preserved vegetables, is planning to raise its first round of institutional equity funding. Known for investing in direct-to-consumer brands, Neo Foods is part of the diversified Jalan Group. The funding aims to support the company's expansion and growth initiatives. Details of the investors or the amount sought have not been disclosed yet.

Celebal Tech kicks off Series B round with 2X valuation jump

Entrackr

Entrackr · 3m ago

Celebal Tech kicks off Series B round with 2X valuation jump

Celebal Technologies, an IT Service provider, is set to raise Rs 125 crore (around $14.7 million) in its Series B round led by InCred Growth Partners Fund with the participation of existing backer Norwest Venture Partners. In June last year, Celebal Tech raised Rs 80 crore in debt from BlackSoil, following its $32 million Series A funding round in November 2022. According to regulatory filings accessed from the Registrar of Companies (RoC), Celebal Technologies’ board has approved a resolution to issue 1,04,000 Series B CCPS at an issue price of Rs 12,019 each to raise the sum. InCred Growth Partners Fund will lead the round with an investment of Rs 80 crore ($9.4 million), while Norwest Venture Partners will contribute Rs 45 crore ($5.3 million) to increase its stake in the company. The filing further mentioned that the proceeds from this round will be used to expand the company’s business operations, meet working capital needs, and support general corporate purposes. Founded in 2015, Celebal Technologies is a software services firm focused on digital transformation using generative AI, machine learning, cloud integration, and app modernization. It serves clients across the USA, India, APAC, UAE, Europe, and Canada. Following the allotment of this round, the Jaipur-based company’s valuation nearly doubled to Rs 1,795 crore or $211 million, as per Entrackr’s estimates. According to startup data platform TheKredible, Norwest Venture Partners will hold the largest external stake in the company at 28.83%, while new investor InCred will hold a 4.46% stake. In the fiscal year ended March 2024, Celebal Tech reported 43% year-on-year growth in operating revenue to Rs 275 crore. However, its losses ballooned to Rs 60 crore from Rs 1.3 crore. Notably, the Norwest Ventures-backed firm was profitable in FY22, posting a Rs 21.6 crore profit.

Exclusive: MediBuddy To Raise $8.4 Mn Debt Funding To Fuel Expansion Plans

Inc42 · 1y ago

Exclusive: MediBuddy To Raise $8.4 Mn Debt Funding To Fuel Expansion Plans

MediBuddy, a healthcare startup, is planning to raise fresh debt from existing investors such as Innoven Capital and Atleria Capital. The company intends to acquire businesses in sectors such as women's health, mental health, diabetes, and chronic disease management. This latest investment will bring the startup's total debt and equity funding to approximately $218 million.

Exclusive: InCred Finance Bags INR 400 Cr Debt Funding From Morgan Stanley, Others

Inc42 · 1m ago

Exclusive: InCred Finance Bags INR 400 Cr Debt Funding From Morgan Stanley, Others

InCred Finance, the lending arm of InCred Group, secured INR 400 crore (approximately $46.8 million) in debt funding from Morgan Stanley, Nippon Life India, and others, with equity funding of INR 40 crore from its parent company. The funding was raised through the issuance of non-convertible debentures. This capital infusion comes as InCred Finance prepares for an upcoming IPO, targeting a raise of INR 4,000 crore to INR 5,000 crore later this year.

Debt collections platform Credgenics secures $50 million in funding from Westbridge, Accel, others

Economic Times

Economic Times · 2y ago

Debt collections platform Credgenics secures $50 million in funding from Westbridge, Accel, others

Credgenics, a debt collections platform, has successfully raised $50 million in funding through contributions from investors such as WestBridge, Accel, and others. This substantial funding injection reflects confidence in Credgenics' business model and potential, highlighting its significant role in revolutionizing debt collection practices within the startup and tech ecosystem.

Neo Asset hires former True North exec Chheda to lead special situation strategy

VCCircle

VCCircle · 1y ago

Neo Asset hires former True North exec Chheda to lead special situation strategy

Neo Asset Management has hired Rubin Chheda, a former executive at True North, as its managing director to lead the firm's special situations credit strategy. Chheda will leverage his experience in managing institutional money to further enhance Neo's credit platform. He will work alongside Puneet Jain, the chief investment officer of Neo Wealth and Asset Management, and Hemant Daga, the co-founder and CEO of Neo Asset Management. Chheda was previously a founding member of True North's private credit strategy and also held positions at Piramal Capital and Fairwinds Private Equity. Neo Asset Management's special situation strategy fund aims to raise Rs 2,000 crore.

SUGAR Cosmetics to raise $4.5 mn from Anicut, Malabar

Inshorts · 8m ago

SUGAR Cosmetics to raise $4.5 mn from Anicut, Malabar

Mumbai-based D2C Sugar Cosmetics is set to raise $4.5 million in what seems to be a tranche of funding from a host of investors, including Anicut Equity Continuum Fund, Elevation Capital, Malabar Investment and L Catterton among others. As per Inc42’s calculations, the startup secured the fresh funding round at a valuation of ₹2,600-₹2,700 crore.

Gujarat-based DevX Coworking Secures $7 Million Funding

OutlookIndia

OutlookIndia · 1y ago

Gujarat-based DevX Coworking Secures $7 Million Funding

Gujarat-based flexible office space provider, DevX, has raised $7 million in funding, split equally between equity and debt. The equity round saw participation from family offices Urmin, Gala, and Bidiwala, as well as HNIs Ajay Patel, Mitesh Patel, and Soham Mehta. The debt funding was provided by banks and NBFCs. DevX plans to use the funds to expand nationally and globally, add more inventory, strengthen governance practices, and develop a proprietary proptech solution. They aim to be listed next year and consolidate their presence across India by 2024.

BlueStone To Raise $16.5 Mn From Innoven Capital, Others

Inc42 · 1y ago

BlueStone To Raise $16.5 Mn From Innoven Capital, Others

Omnichannel jewelry startup BlueStone is seeking to raise about $16.5 million in a combination of debt and equity funding. The debt portion, estimated at around $12 million, will be raised from Innoven Capital, while the equity portion of about $4.5 million will come from investors like Ashwin Kedia and Sankar Bora. BlueStone plans to use the funds to support its operations and expansion plans. This follows the recent debt funding of $9 million that the startup received from Trifecta Capital. BlueStone is also reportedly considering a public listing and aims to raise about $265 million through its proposed IPO.

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