🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

Optimist raises $12 Mn in seed round led by Accel and Arkam Ventures

EntrackrEntrackr · 7d ago
Optimist raises $12 Mn in seed round led by Accel and Arkam Ventures
Medial

Optimist, a technology-led cooling solutions startup focused on building future-ready air conditioners, has raised $12 million in a seed and pre-Series A funding round led by Accel and Arkam Ventures, along with participation from prominent angel investors. The fresh funds will be deployed to scale manufacturing, research and development (R&D), and go-to-market operations, Optimist said in a press release. Launched in 2024 by Ashish Goel, former CEO and co-founder of Urban Ladder, and Pranav Chopra, Optimist aims to transform customers’ lives through technology-driven cooling solutions. Backed by deep customer research and an understanding of Indian lifestyles, the company is designing and manufacturing products tailored to the country’s evolving needs. Its cooling systems are built to operate reliably under extreme heat conditions and power constraints. According to the company, Optimist has invested significantly over the past year in innovation and reimagining cooling solutions through sustained R&D efforts and multiple product testing cycles in real-world environments. These R&D initiatives are anchored at Nalanda, its in-house innovation lab in Gurugram. With in-house R&D and manufacturing capabilities, Optimist is able to shorten development cycles and build products that reduce electricity bills while easing pressure on power grids. Optimist aspires to design and manufacture ultra-efficient, customer-centric cooling systems for India’s extreme heat and energy-constrained markets. The company plans to sell its products through a mix of direct-to-consumer channels and brand stores, initially targeting residential and small commercial customers. Optimist air conditioners will be available from February 2026 in Delhi NCR, Rajasthan, Telangana, and Bengaluru, followed by expansion to other cities.

Related News

Fast Fashion brand Newme to raise $12 Mn at $112 Mn valuation

EntrackrEntrackr · 2m ago
Fast Fashion brand Newme to raise $12 Mn at $112 Mn valuation
Medial

Women-focused fast fashion brand Newme has kicked off a Series B round with Rs 108.66 crore (approximately $12 million) co-led by existing investors Accel India, Fireside Ventures, and with the participation of new investor Point72 Ventures and others. Newme had secured $18 million in a Series A round led by Accel in July last year. The Newme’s board passed a special resolution to issue 3,447 Series B CCPS at an issuance price of Rs 3,15,231 per share to raise the amount as mentioned earlier, according to its regulatory filing with the Registrar of Companies (RoC). Accel India and Fireside Ventures will each invest Rs 36.94 crore ($4 million), while Point72 Ventures will join the captable with Rs 26.38 crore ($3 million). AUM Ventures, 2am Ventures, and A, Paul SRC SPV V, LLC will contribute the remaining amount. According to Entrackr’s analysis, the D2C firm’s valuation is set to rise by about 41% to Rs 988 crore ($112 million), compared to its earlier valuation of Rs 700 crore during the Series A funding round. Founded by Shivam Tripathi, Sumit Jasoria, Himanshu Chaudhary, and Vinod Naik, the Bengaluru-based startup sells women-centric products targeting Gen Z, across both online channels and offline stores. According to its website, the company’s app has more than 7 million downloads, and it operates 16 offline outlets across cities, including Bengaluru, Mumbai, New Delhi, Chandigarh, Pune, and Hyderabad, among others. According to startup data intelligence platform TheKredible, Newme has raised over $23 million across two funding rounds, including its seed round in January 2024. Following the latest infusion, Fireside Ventures will become the largest external shareholder with a 19.27% stake, followed by Accel India at 17.06%, while new investor Point72 Ventures will hold 2.67%. The company’s co-founders will collectively retain 31.45% ownership. Financially, Newme reported Rs 48.28 crore in operating revenue for the fiscal year ended March 2024, with a loss of Rs 35.75 crore. The company has yet to disclose its FY25 financials.

Beauty brand Asaya raises $1.5 Mn from OTP Ventures and others

EntrackrEntrackr · 1y ago
Beauty brand Asaya raises $1.5 Mn from OTP Ventures and others
Medial

Premium skincare brand Asaya has raised Rs 12 crore ($ 1.5 million) in Seed funding round led by OTP Ventures and Huddle Ventures, with additional investments from Eternal Capital. The funds will be allocated towards melanin-centric research and developing more products that cater to melanin-specific needs, the company said in a press release. Part of the funding will also be utilised to enhance market reach. Launched in September 2023 by Neeraj Biyani (former Co-founder of Paper Boat), Mandeep Bhatia, and Eeti Sharma, Asaya has rapidly expanded its sales and customer base, retailing through its website and online retail platforms like Nykaa, Amazon, Flipkart, and Myntra. Currently, it claims to have more than 11 products and 23 SKUs. According to Biyani, this funding will help us go from 20,000 to over 250,000 consumers in the next 12 months. Suhail Sameer, who is the former CEO of BharatPe, is serving venture capital firm OTP Venture as managing partner. As per a media report, OTP Ventures is also looking to close its debut fund at Rs 400 crore by June. The firm recently led $1 million round in CirclePe.

Download the medial app to read full posts, comements and news.