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Physis Capital marks second investment of Rs 5 Cr in CTPL

EntrackrEntrackr · 9m ago
Physis Capital marks second investment of Rs 5 Cr in CTPL
Medial

Admissions as a service platform Creanovation Technologies Pvt. Ltd (CTPL) has raised Rs 5 crore from growth-stage focused Physis Capital. This is the second investment by the $50 million fund. Earlier this year, the fund invested in Ben & Gaws. Founded by Bikash Sahoo, CTPL features customizable workflows, CRM-driven lead management, and AI-powered decision-making for more efficient admissions. Beyond admissions, CTPL’s NextGen Academy offers industry-collaborative courses to prepare students for the future job market. It helps educational institutions increase revenue and improve overall efficiency. The Gurugram-based startup claims to have doubled its revenue year on year for the past three years, while remaining profitable and is set to enter international markets this year. CTPL has raised a total of $4 million in a mix of dilutive and non-dilutive capital in this round. Physis Capital, the venture capital fund established by the team behind Inflection Point Ventures (IPV), is known for investing in companies like Bharat Pe, Blusmart, VideoVerse, Milkbasket, Samosa Party, Stage, and Otipy. It targets startups from pre-Series A to Series B.

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Physis Capital crosses Rs 200 Cr in funding

EntrackrEntrackr · 2m ago
Physis Capital crosses Rs 200 Cr in funding
Medial

Physis Capital crosses Rs 200 Cr in funding Physis Capital, the growth-stage venture fund launched by Vinay Bansal, Ankur Mittal, and Mitesh Shah of Inflection Point Ventures, has raised over Rs 200 crore ($23 million) in its ongoing fundraise. According to the company, the final close is expected within the next 6 to 9 months. The fund focuses on tech-driven startups from Pre-Series A to Series B and aims to build a concentrated portfolio of 15–20 companies. It will invest $1–1.5 million initially, with follow-on cheques of $1–4 million for high-performing portfolio companies. Physis Capital has already backed three startups Ben & Gaws, CTPL, and STAGE and has 8 more deals in the pipeline, with 3–4 expected to close in the next two quarters. The fund has seen participation from leading institutions and family offices including SUD Life, Haldiram’s Family Office, Lotus Holdings, and Narayana Nethralaya. “With strong support from marquee investors and a clear focus on founder-first investing, Physis Capital is well-positioned to back the next wave of high-impact startups in India. We are on track to build a portfolio of over 15 companies by the first half of next year,” said Vinay Bansal, General Partner, Physis Capital. In March 2022, angel investment platform Inflection Point Ventures (IPV) had announced the launch of its $50 million new fund Physis Capital with a green shoe option of another $25 million. Later in May 2023, Physis Capital announced its first close of CAT II $50 million fund.

Zomato invests Rs 500 Cr in Blinkit

EntrackrEntrackr · 7m ago
Zomato invests Rs 500 Cr in Blinkit
Medial

Food tech giant Zomato has invested Rs 500 crore (nearly $60 million) in its quick commerce subsidiary, Blinkit, bringing its total investment in the quick commerce segment to Rs 2,800 crore since the acquisition. The board has Blinkit has passed a resolution to issue 2,537 equity shares at an issue price of Rs 19,70,181 each to raise Rs 500 crore, its regulatory filing accessed from the Registrar of Companies shows. The capital injection into Blinkit comes just two months after Zomato raised Rs 8,500 crore through a Qualified Institutions Placement (QIP). The primary objective of that fundraising was to strengthen Zomato's financial position, enabling business expansion and strategic initiatives, particularly in the quick commerce segment through Blinkit. This marks Zomato's second capital infusion in Blinkit within seven months. In June 2024, it invested Rs 300 crore ($36 million) into the Albinder Dhindsa-led company. Blinkit, formerly known as Grofers, was acquired by the food delivery giant in an all-stock deal valued at Rs 4,477 crore ($568 million).

Exclusive: BII to invest Rs 70 Cr for additional 3% stake in Altum Credo

EntrackrEntrackr · 14d ago
Exclusive: BII to invest Rs 70 Cr for additional 3% stake in Altum Credo
Medial

British International Investment (BII) will invest another Rs 70 crore ($8.2 million) in housing finance company Altum Credo. This marks its second infusion in a month, following a Rs 100 crore investment last month, exclusively reported by Entrackr. According to filings with the Registrar of Companies (RoC), Altum Credo’s board passed a resolution to issue 40,46,243 Series C1 CCPS at Rs 173 per share to British International Investment, raising Rs 70 crore. British International Investment holds a 9.04% stake before the injection. Now its stake will increase to 12.55%, as per the regulatory filing. While Aavishkaar Capital remains the largest shareholder in the company with a 14.27%. The proceeds from this funding will be used to expand the company’s lending operations and geographic footprint, the filing added. In April last year, Altum Credo raised $40 million through a mix of primary and secondary transactions, led by Z3Partners and Oikocredit. According to startup data intelligence platform TheKredible, the Pune-based company has raised $80 million to date. Entrackr estimates the company’s valuation will reach Rs 1,777.5 crore (around $209 million) post-allotment. Founded in 2016, Altum Credo offers housing finance to economically weaker and low-income groups, providing home loans between Rs 4 lakh and Rs 40 lakh with tenures of 5 to 20 years. The company primarily serves first-time homebuyers in semi-urban and rural India. In the fiscal year ended March 2024, Altum Credo recorded a 67% jump in operating revenue to Rs 112.87 crore, while its profit more than doubled to Rs 20 crore during the same period.

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