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AI startup OrbitShift raises $7 million in funding led by Peak XV's Surge, Stellaris Venture Partners

Economic TimesEconomic Times · 1y ago
AI startup OrbitShift raises $7 million in funding led by Peak XV's Surge, Stellaris Venture Partners
Medial

Artificial intelligence (AI) sales intelligence startup, OrbitShift, has secured $7 million in seed funding, led by Peak XV Partners' scale-up program Surge and Stellaris Venture Partners. The funds will be used to expand its customer base in the US, invest in technology and product teams, and broaden its product portfolio. OrbitShift, founded in 2022, offers a platform that supports the entire sales ecosystem for technology and IT services companies. This marks OrbitShift's second institutional funding, bringing the total raised to $8.5 million. The company aims to improve sales efficiency for enterprise customers by reducing research and planning time.

Peak XV to launch perpetual ‘Anchor Fund’ backed by its partners, team members

IndianStartupNewsIndianStartupNews · 1y ago
Peak XV to launch perpetual ‘Anchor Fund’ backed by its partners, team members
Medial

Peak XV Partners, a venture capital firm, is introducing the Peak XV Anchor Fund, a permanent capital vehicle that allows the firm's leaders and team members to invest in future funds and collaborate with other fund managers. The fund aims to institutionalize internal funding and deepen the commitment and alignment of Peak XV managers with the firm's investment strategies. Unlike similar funds, the Anchor Fund will exclusively source its capital from the firm's partners and team members, with a focus on investing in global seed and early-stage venture funds. This move follows Peak XV's separation from Sequoia Capital and positions the firm as a major player in the startup ecosystem.

Exclusive: Matrix and Stellaris-backed Dashtoon in talks to raise $10-12 Mn

EntrackrEntrackr · 1y ago
Exclusive: Matrix and Stellaris-backed Dashtoon in talks to raise $10-12 Mn
Medial

AI assisted comic creation platform Dashtoon is in talks to raise a new round from new and existing investors, sources aware of the development told Entrackr. This will be the second funding round for the San Francisco and London-based startup which has offices in Bengaluru. “New investors along with existing ones Matrix Partners India and Stellaris Venture Partners are in late-stage talks to invest around $10-12 million in Dashtoon,” said a source requesting anonymity. In November 2023, Dashtoon had raised $5 million in a seed round led by Matrix and Stellaris with participation from prominent angel investors. Founded in December 2022 by Sanidhya Narain, Lalith Gudipati, and Soumyadeep Mukherjee, Dashtoon leverages Generative AI to turn storytellers into comics artists. Using its proprietary product Dashtoon Studio, storytellers can create digital comics. Narain and Gudipati were part of the founding team of audio entertainment startup Pocket FM and helped the company building and growing the product in the US. Mukherjee also built and scaled deep-tech teams at various startups including solving cancer diagnosis at Morphle Labs. Dashtoon also enables published authors or aspiring writers to distribute and monetize their comics and graphic novels. “The terms of the deal have been agreed upon and it’s likely to get materialized in a few weeks from now,” said another source who also requested anonymity. “Dashtoon is likely to be valued in the range of $5-60 million during the Series A financing.” Queries sent to Dashtoon, Matrix and Stellaris did not elicit any response. We’ll update the post in case they do. In November, the company said that it started monetising in October and expects to make $15,000 in revenue during the first month, with plans to grow to $100,000 per month over the next two to three months. In a long haul, Dashtoon aspires to be a global IP powerhouse by partnering with thousands of creators and readers. Currently, Japanese Manga and Korean Webtoons have been dominating the global comics market which was worth $15.5 billion in 2022 and is expected to be valued at around $27 billion by 2032, according to Allied Market Research.

Exclusive: Peak XV to lead new round in GoodScore parent

EntrackrEntrackr · 4m ago
Exclusive: Peak XV to lead new round in GoodScore parent
Medial

Exclusive: Peak XV to lead new round in GoodScore parent Arthvit 1809 Tech Pvt. Ltd, the parent company of Rupicard and GoodScore, is all set to raise $15-20 million in a fresh funding round, sources aware of the development told Entrackr. "Peak XV is leading a $15 million investment in Arthvit 1809 Tech (parent of GoodScore and Rupicard), with participation from existing investor Stellaris. The terms of the deal have been finalized, and the company is expected to announce it in the coming weeks," said a source familiar with the matter, requesting anonymity. Founded in 2022 by Rakshit Agarwal and Sanchit Bansal​, GoodScore helps users improve their credit scores to 750 and above. It provides monthly tracking, detailed reports, and expert guidance. Its core product Rupicard offers a secured credit card linked to a fixed deposit (FD), allowing users to build or improve their credit scores. Users can open an FD starting from Rs 5,000 and receive a credit limit equal to 90% of their deposit. Queries sent to Peak XV and Bansal didn’t elicit an immediate response. Last year, Bajaj Markets, a Bajaj Finserv subsidiary, partnered with Rupicard to expand credit card access across India. Arthvit 1809 Tech (parent company of Rupicard and Goodscore) is backed by Stellaris Venture Partners, Saison Capital, and Sprint VC, as per PitchBook's data. Interestingly, Peak XV is already an investor in OneCard, which operates OneScore, a similar app to GoodScore. The Anurag Sinha-led company is a unicorn, and Peak XV is its largest stakeholder. Arthvit 1809 Tech began monetizing its operations in FY24 and its operating revenue surged to Rs 2.5 crore in the last fiscal year from Rs 4 thousand in FY23. Collection from services was the sole source of the company’s revenue in the last fiscal year. However, the firm’s losses also expanded significantly, increasing 7.7 times to Rs 7 crore in FY24.

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