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Exclusive: Grapevine set to raise Series A led by Kae Capital

EntrackrEntrackr · 21d ago
Exclusive: Grapevine set to raise Series A led by Kae Capital
Medial

**Exclusive: Grapevine set to raise Series A led by Kae Capital** Anonymous social media platform Grapevine is set to raise Rs 33.86 crore (around $3.8 million) in its Series A round, led by Kae Capital, with participation from Peak XV Partners and Unilazer Ventures. According to the company’s latest regulatory filing with the Registrar of Companies (RoC), the board has approved a special resolution to issue 44,325 Series A preference shares at a price of Rs 7,599.5 per share, to raise the aforementioned amount. As per the filing, Kae Capital will invest Rs 18 crore, while Peak XV Partners and Unilazer Ventures will contribute Rs 7 crore and Rs 8.6 crore, respectively. The company plans to deploy the funds toward expansion and overall business growth. According to Entrackr’s estimates, the fresh funding will value the company at a post-money valuation of around Rs 150 crore ($17 million). Following this transaction, Peak XV Partners will command a 20.77% stake, while Kae Capital and Unilazer Ventures will own 11.97% and 5.69%, respectively. Meanwhile, Grapevine’s co-founders, Jainam Dinesh Talsania, Shreeyash Nitin Dharmadhikari, and Saumil Sanjai Tripathi, will collectively retain 48.78% ownership in the company. Prior to this round, Grapevine had raised $2.6 million in its seed round, led by Peak XV Partners, which had picked up a little over 20% stake at the time. Entrackr had exclusively reported that development as well. Founded in early 2023, Grapevine enables unrestricted and anonymous discussions across topics such as career, finance, professional experiences, and personal matters. The platform claims to have a thriving community of over 30,000 members, largely comprising professionals from tech companies and startups. The company competes to an extent with FishBowl, Blind, Together, and Reddit, all of which operate in the anonymous professional networking and discussion space.

Sweet Karam Coffee raises $8 Mn led by Peak XV

EntrackrEntrackr · 7m ago
Sweet Karam Coffee raises $8 Mn led by Peak XV
Medial

Sweet Karam Coffee Raises $8 Mn Led by Peak XV Chennai-based South Indian food brand Sweet Karam Coffee (SKC) has raised $8 million in its Series A round led by Peak XV Partners, with existing investor Fireside Ventures also increasing its stake. The funding comes almost two years after Sweet Karam Coffee raised $1.5 million from Fireside Ventures. The proceeds will be used to expand its distribution, launch new products, and improve its supply chain with tech. Founded in 2015, SKC is known for its authentic sweets, snacks, and filter coffee, which is made without palm oil, preservatives, or maida. It also sells condiments and ghee. The startup sells its products via its website, e-commerce marketplaces, and quick commerce platforms, serving customers across 32 countries. SKC claims to have grown 4X in revenue over the past 12 months and is projected to grow another 2.5X in the next 12 months. SKC announced the appointment of Nandhitha Indermohan (ex-Unilever) as Chief Operating Officer to boost execution.

Exclusive: Peak XV joins Truemeds’ Series C round with $20 Mn

EntrackrEntrackr · 4m ago
Exclusive: Peak XV joins Truemeds’ Series C round with $20 Mn
Medial

Exclusive: Peak XV joins Truemeds’ Series C round with $20 Mn Telehealth platform Truemeds has secured another $20 million or Rs 174.33 crore in its ongoing Series C round from new investor Peak XV Partners. This investment is an extension of the $44 million raised by Truemeds in March this year, led by Accel, which was exclusively reported by Entrackr. The board at Truemeds has allotted 19,737 Series C2 compulsory convertible preference shares at an issue price of Rs 88,331 each to raise the aforementioned sum from Peak XV, its regulatory filing accessed from the Registrar of Companies (RoC) shows. The company plans to utilise the funds for business expansion and to support its growth plans, according to the filing. As per Entrackr’s estimates, its valuation stood at $410 million (Rs 3,487 crore) in the new tranche (post-allotment), a 22% increase from its C1 tranche. Founded by Naitik Nayyar and Akshat Wani, Truemeds helps consumers discover cost-effective alternative brands for prescribed medicines by analyzing the prescriptions they upload. It partners with certified pharmacies to deliver medicines at discounted prices, aiming to make healthcare more affordable and accessible. According to startup data intelligence platform TheKredible, the firm has raised over $90 million to date. Following the latest allotment, Peak XV holds a 5% stake in the company. Westbridge is the largest shareholder in Truemeds followed by Info Edge which owns 21.87% stake. Co-founders Naitik Nayyar and Akshat Wani both collectively retain 21.3%. Truemeds doubled its revenue to Rs 315 crore in FY24, while its losses narrowed by 9% to Rs 61 crore during the same period. The Mumbai-based firm competes with telehealth platforms like PharmEasy, which recorded Rs 5,664 crore in revenue in FY24, and Tata 1mg, which posted Rs 1,964 crore.

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