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JIIF investors invest in Rs 350 Cr consumer-focused fund by Atomic Capital

EntrackrEntrackr · 1m ago
JIIF investors invest in Rs 350 Cr consumer-focused fund by Atomic Capital
Medial

Investors from the early-stage angel network JIIF have invested in a Rs 350 crore fund by Atomic Capital, a newly launched consumer-focused venture capital firm. JIIF-affiliated angel investors alone contributed Rs 26.5 crore to the fund. According to JIIF, this is the largest collective bet by JIIF’s investors in the consumer VC space, underscoring rising conviction in India’s next wave of consumption, driven by digital-first brands, regional demand, and wellness-oriented products. Commenting on the investment, Jeenendra Bhandari, Chairman of JIIF, said, “It is a proud moment to see JIIF members backing Atomic Capital’s first fund. Their investment aligns with our broader thesis of supporting category-defining, purpose-led startups. India’s consumer opportunity is massive, and Atomic’s operating model is well positioned to unlock enduring brand value.” Atomic Capital operates with an “Operating VC” approach, offering not just capital but also hands-on support in brand building, growth marketing, supply chain optimization, and leadership hiring. In FY25, JIIF’s investor base deployed over Rs 60 crore across more than 20 startups spanning fintech, healthtech, AI, logistics, and consumer. The network now supports a portfolio of over 150 companies. Mumbai-based Atomic Capital, an early-stage VC firm founded in 2024 by Apoorv Gautam, combines strategic depth with on-ground execution.

Jewelbox raises $3.2 Mn in pre-Series A round

EntrackrEntrackr · 3m ago
Jewelbox raises $3.2 Mn in pre-Series A round
Medial

Lab-grown diamond brand Jewelbox has raised $3.2 million in a pre-Series A funding round led by V3 Ventures, with participation from Atrium Angels, Dexter Ventures, Infinyte Club, Samarthya Capital, and existing investor JITO Incubation & Innovation Foundation (JIIF). In March 2024, the Kolkata-based startup had raised Rs 3.7 crore in seed funding from JIIF. The proceeds will be used to grow its store network, build brand awareness, and hire across key departments. Founded in May 2022 by siblings Vidita Kochar Jain and Nipun Kochar, Jewelbox sells lab-grown diamond jewellery through both online and offline channels. The firm reported an annual revenue run rate (ARR) of Rs 38 crore for FY25, up from Rs 16 crore the previous year. Jewelbox currently runs eight stores in six cities—Delhi, Gurgaon, Bengaluru, Chennai, Kolkata, and Guwahati—and aims to expand to 30 stores by the end of 2025. In the lab-grown diamond space, Jewelbox will compete with a clutch of firms, including COLUXE, Fiona Diamonds, Limelight Lab Grown Diamonds, and Firefly Diamonds. Aditya Birla-backed GIVA also offers a lab-grown diamond jewellery line. Last month, Firefly Diamonds raised $3 million in its seed round led by WestBridge Capital. Jewelbox and other new brands have asked the Central Consumer Protection Authority (CCPA) to stop the use of the term "synthetic" for lab-grown diamonds, saying it confuses with imitation stones like cubic zirconia.

Exclusive: Consumer lending startup Fibe raises $66 Mn

EntrackrEntrackr · 1y ago
Exclusive: Consumer lending startup Fibe raises $66 Mn
Medial

Digital lending platform Fibe (formerly EarlySalary) has raised Rs 547 crore or $66 million in Series E round led by TPG’s The Rise Fund and Kabira Holdings. This is the first round of investments for the Pune-based company in the past two years. The board at Five has passed a special resolution to issue 5,46,75,600 Series E CCPS at an issue price of Rs 100 each to raise Rs 547 crore, its regulatory filing accessed from the RoC shows. The Rise Fund led the round with Rs 133 crore while Kabira Holdings put in Rs 125 crore. Eight Road Ventures, Norwest Capital, and Trifecta participated with Rs 41.6 crore, Rs 62.5 crore and Rs 55 crore, respectively. Amara Partners and Chirate also invested Rs 29.17 crore and Rs 100 crore. According to filings, the company will use these funds for expansion and growth as per the business plan duly adopted by the board. This is a developing story…

Exclusive: Jupiter’s NBFC biz raises funds from Peak XV, Matrix, others

EntrackrEntrackr · 1y ago
Exclusive: Jupiter’s NBFC biz raises funds from Peak XV, Matrix, others
Medial

Neobanking platform Jupiter has raised strategic funding from its existing investor for its non-banking financial (NBFC) biz. This is the maiden equity round for Amica Finance which is a separate entity. The board at Amica Finance has passed a special resolution to issue 97,89,529 Series A compulsory convertible preferred shares (CCPS) at an issue price of Rs 20.43 per share to raise Rs 20 crore or $2.4 million, as per the company’s regulatory filings with the Registrar of Companies. Peak XV Partners led the round with an infusion of Rs 5.25 crore followed by Matrix Partners and QED Fund with Rs 4.32 crore and Rs 3.58 crore, respectively. BEE Accelerate Fund (BEENEXT), Global Founders Capital, Tiger Global, Greyhound Capital Partners, Mirae Asset Venture Investments and Bairavan Amrish Rau poured in the remaining sum. The Jitendra Gupta-led company obtained an NBFC license from RBI in April last year which lets it lend on its own book. As per a media report, it will also hire a chief executive officer (CEO) to run the lending biz. As per the startup intelligence platform TheKredible, the company has raised fresh funds at a post money valuation of around Rs 100 crore ($12 million). Following the investment round, Jupiter’s founder and CEO Gupta diluted his stake to 76.15% while Peak XV Partners became the largest external shareholder with 6.24% stake. For the firm’s complete shareholding pattern, visit TheKredible. Currently, the average loan tenure on Jupiter’s platform is less than six months with a ticket size of Rs 30,000 but it’s reportedly eyeing to disburse up to Rs 1 lakh to borrowers with maximum tenure of two years. The development comes soon after Jupiter received prepaid payment instruments (wallet) license which enables users to perform UPI payments through the firm’s mobile application. Jupiter was last valued at around $710 million in its Series C round in December 2021. It has raised over $160 million to date from the likes of QED Investors, Peak XV, Tiger Global and Matrix Partners. Jupiter registered more than 2.5x growth in its operating revenue to Rs 48.86 crore in FY23. However, its losses grew at a similar pace and stood at Rs 327 crore in FY23 from Rs 163.94 crore in FY22.

Zomato-backed AdOnMo raises $7 Mn

EntrackrEntrackr · 1y ago
Zomato-backed AdOnMo raises $7 Mn
Medial

Ad-tech firm AdOnMo has raised Rs 58.21 crore (around $7 million) in its Series B1 round. This is the first major infusion in the Hyderabad-based company after its Series A round led by Zomato last year. The board at AdOnMo has passed a special resolution to issue 36 equity and 4,156 CCPS at an issue price of Rs 1,38,850 each to raise Rs 58.21 crore or $7 million, its regulatory filing with the RoC shows. Healthcare veteran Ravindranath Kancherla and his son Kancherla Pruthvinath injected Rs 16.6 crore while Qatar Insurance Company and ZNL Growth (Z Nation Lab) pumped in Rs 8 crore and Rs 1.80 crore, respectively. Three dozen individual investors including Manish Kailash Chhabra, Vindhya Guduru, Vikram Malhotra, Usha Reddy Chigarapalli, and Desireddy Srinivasa Reddy also invested in AdOnMo’s Series B round. The company will use these investments for business expansion and to meet working capital requirements, according to the filing. According to the startup data intelligence platform TheKredible, AdOnMo has been valued at around Rs 858 crore or $105 million (post-money). During the ongoing fiscal year, the company also raised Rs 20 crore in debt from Northern Arc and Alteria Capital. Founded in 2016 by Sandeep Bommireddi and Sravanth Gajula, AdOnMo is an ad-tech company which provides targeted digital advertising to outdoor digital screens (residential & corporate parks) across 21 cities. As of now, the company has raised around $25 million across rounds including its $15 million round led by Zomato last year. Before this round, Zomato was the largest external stakeholder with a 17.49% stake followed by BAce Capital and Astarc Ventures. AdOnMo grew at a rapid clip in the last fiscal year as its revenue from operations surged four-fold to Rs 75 crore in FY23. Meanwhile, the company’s losses stood at Rs 38 crore in the same period.

Store My Goods raises Rs 4 Cr led by JIIF

EntrackrEntrackr · 2m ago
Store My Goods raises Rs 4 Cr led by JIIF
Medial

Store My Goods raises Rs 4 Cr led by JIIF Storage solutions startup Store My Goods has raised Rs 4 crore (approximately $460K) in a growth funding round led by JITO Incubation and Innovation Foundation (JIIF) and family offices. The latest infusion is part of the company’s ongoing efforts to close a $1 million round, with participation from prominent family offices. The proceeds will be used for expansion across new geographies, enhancing technology infrastructure, and strengthening its leadership team, Store My Goods said in a press release. Co-founded in December 2021 by Sudeep Gupta and Swati Gupta, Store My Goods offers on-demand, tech-enabled storage and warehousing services to both individuals and businesses. It aims to address a rapidly emerging need in urban India with a tech-driven and scalable approach. The Noida-based startup provides customized storage plans, packaging services, insurance coverage, and secure storage facilities. It caters to both B2B and B2C clients, offering a range of services including self-packaging and self-drop options. Store My Goods aspires to solve multiple storage challenges across both consumer and business segments. On the consumer side, it caters to people dealing with space constraints—offering storage during home renovations, relocations, or as an extension of their homes for seasonal items and personal belongings. For businesses, it serves as a scalable warehousing alternative—helping startups and SMEs manage inventory, promotional material, or archived documents without long-term lease liabilities. The company claims that it currently operates in five major Indian metros—Delhi NCR, Mumbai, Bangalore, Hyderabad, and Pune—and has sold over 50,000 months of storage subscriptions to more than 5,000 customers. It was also featured on Shark Tank India Season 1.

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