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Pidge raises Rs 120 Cr in growth capital led by LVEC

EntrackrEntrackr · 10d ago
Pidge raises Rs 120 Cr in growth capital led by LVEC
Medial

Pidge, a supply marketplace and interoperable last-mile logistics platform, has raised Rs 120 crore in growth capital led by La Vida es Chula (LVEC), the entrepreneur-led capital fund founded by entrepreneur and investor Thomas Meyer, along with participation from its existing investors. The proceeds will be utilized for deeper penetration into tier II and tier III markets, establishing product and tech leadership, and piloting its logistics operating system in select international markets, Pidge said in a press release. Co-founded in 2019 by Rushil Mohan and Ratnesh Verma, Pidge is a technology-driven logistics intelligence platform committed to enabling reliable, flexible, and secure last-mile deliveries for businesses and individuals. Pidge aims to digitally equalize the logistics ecosystem and become the Operating System (OS) for last-mile delivery. Its proprietary technology stack, including industry-first innovations like Titan and MORRE, forms the backbone of its AI-led reliability engine. According to Pidge, it functions as a comprehensive operating system, integrating visibility, routing, allocation, analytics, and vendor interoperability under one intelligent platform, effectively bridging the gap between the organized and unorganized sectors. “As India manifests its vision of single-digit logistics costs and 2x e-commerce every 3 years, Pidge is poised to be the foundation for that growth with the country’s largest interoperable last-mile logistics platform,” said Ratnesh Verma, co-founder & CEO, Pidge. Through its AI-powered, interoperable platform, the company claims that it serves over 20,000 brands across more than 50 cities, with a growing network of recognized partners including Zomato, Swiggy, KFC, Tata1mg, EatClub, Snitch, and more. It has achieved 10x year-on-year growth and is currently operating at an annualized run rate of Rs 250 crore. It competes with other major players in this space such as Shiprocket, Holisol, ShipBob, and others.

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Bubble tea brand Boba Bhai raises Rs 30 Cr in Series A round

EntrackrEntrackr · 10m ago
Bubble tea brand Boba Bhai raises Rs 30 Cr in Series A round
Medial

Bubble tea brand Boba Bhai, a quick-service restaurant (QSR) brand focused on bubble tea and other food items, has raised Rs 30 crore (around $3.4 Mn) in its Series A round led by 8i Ventures. The round also saw participation from existing backers, including Titan Capital Winners Fund, Global Growth Capital, and DEVC among others. Earlier, the startup raised Rs 12.5 crore in its seed round led by Titan Capital and Global Growth Capital UK. The proceeds will be used to expand to new cities, scale operations, and introduce innovative menu offerings. Founded by Dhruv Kohli, Boba Bhai currently has 42 outlets in nine cities and plans to open over 150 stores by the end of the year. Approximately 70% of orders are generated through its website and platforms like Zomato, Swiggy, and ONDC.

EV two-wheeler manufacturer BGauss raises Rs 161 Cr

EntrackrEntrackr · 10m ago
EV two-wheeler manufacturer BGauss raises Rs 161 Cr
Medial

EV two-wheeler manufacturer BGauss raises Rs 161 Cr Electric two-wheeler manufacturer BGauss has raised Rs 161 crore ($18.6 million) in funding from Bharat Value Fund (BVF). The round includes a mix of primary and secondary capital. Earlier in April 2022, BGaus had raised Rs 52 crore (around $6 million) from a group of investors led by Darshan Patel, founder of Vini Cosmetics Pvt. Ltd. The proceeds will be used to expand its presence in India and overseas. It also plans to allocate the funds toward capital expenditures, marketing efforts, and enhancing in-house research and development (R&D) for upcoming product launches. Founded in 2020 by Hemant Kabra, BGauss scooters integrate design with AI-enabled technology, providing comfort, low maintenance, power, fast charging, IoT integration, and convenience. The Pune-based startup currently claims to serve around 45,000 customers and plans to expand its dealership network from 120 to 500, with a target of establishing over 1,000 touchpoints across India. BGauss’s manufacturing capacity, currently at 100,000 units per year, is also set to scale as demand increases. BGauss plans to launch two new products this year. In June 2024, the company introduced the RUV 350 scooter, featuring a 3.5-kilowatt motor, 165 Nm peak torque, and a top speed of 75 km/h. For the fiscal year ending in March 2024, BGauss reported Rs 177 crore in revenue from operations against Rs 110 crore in FY23. During the period, its lossed also jumped nearly two-fold to Rs 49.65 crore. BVF, a Category II Alternative Investment Fund managed by Madhu Lunawat of Pantomath Capital Management, invests in growth-stage, profitable businesses like Haldiram Bhujiawala, Aniket Metals, and Millennium Babycares.

CredAble raises Rs 30 Cr from SIDBI

EntrackrEntrackr · 1y ago
CredAble raises Rs 30 Cr from SIDBI
Medial

Fintech startup CredAble has raised Rs 30 crore ($3.6 million) in debt funding from SIDBI. The fund will be used to scale up its operations and extend affordable financing solutions to MSMEs and women-led businesses in India, CredAble said in a press release. Founded in 2017 by Nirav Choksi and Ram Kewalramani, CredAble provides working capital to large, mid, and emerging corporates, as well as micro, small, and medium enterprises (MSMEs), and financial institutions. Beyond traditional banking and loan products, the company has built a comprehensive working capital infrastructure for digitising corporate-led financing and underwriting needs. CredAble’s platform hosts over 125 corporate customers, over 3,50,000 small business borrowers, and more than 35 large financial institutions and banks. The company recently had dedicated Rs 200 crore to back women-led enterprises and has supported more than 50 such businesses across India over the course of 10 months. In March, CredAble raised $10 million in a new round from Singapore-based Equentia Natural Resources. It has raised nearly $60 million to date. CredAble’s revenue from operations grew 2.78X to Rs 13.94 crore in FY23 from Rs 4.92 crore in FY22. In pursuit of growth, the losses of the company surged 3.37X to Rs 22.40 crore in FY23 from Rs 6.53 crore in FY22.

Citykart raises Rs 538 Cr led by TPG NewQuest and A91 Partner

EntrackrEntrackr · 6m ago
Citykart raises Rs 538 Cr led by TPG NewQuest and A91 Partner
Medial

Citykart has raised Rs 538 crore ($63 million) in Series B funding, marking one of the biggest capital infusions in the country’s value fashion segment to date. The round was co-led by TPG NewQuest, a secondary private equity platform for Asia within TPG, and A91 Partners, a homegrown investment firm specializing in growth investments. According to the company, about Rs 120 crore is primary capital, with the remaining Rs 418 crore allocated to secondary transactions. Investcorp, an early backer of Citykart, has made a full exit, while India SME Fund continues to hold a minority stake. As per media reports, Investcorp invested Rs 75 crore in 2019 in Citykart’s seed round and will now exit with about Rs 280–300 crore. The primary infusion will enable the company to accelerate expansion in both footprint and product assortment, Citykart said in a press release. Gurugram-based Citykart has opened 12 new stores across India, bringing its total to 137 stores in 91 cities across 11 states. The brand focuses on reaching underserved, budget-conscious markets. With popular in-house labels like Athiya, Nimes, Fumee, and Remise, Citykart now serves over 15 million customers each year and plans to grow to 300 stores. Led by Sudhanshu Agarwal, Citykart is growing at a rate of more than 40% and is aiming to reach Rs 1,300 crore in annual revenue. Last year, Agarwal shared that accessories and general merchandise made up 22% of Citykart’s sales, while men’s wear accounted for 32%, women’s wear 24%, and kids' wear the remaining 22%. He also added that Citykart is eyeing becoming the Primark of Tier II and Tier III cities in India.

Quick Clean raises Rs 50 Cr in Series A round

EntrackrEntrackr · 9m ago
Quick Clean raises Rs 50 Cr in Series A round
Medial

Quick Clean, a professional linen management solutions provider, has raised Rs 50 crore ($5.7 million) in its Series A funding round co-led by Alkemi Growth Capital and Blue Ashva Capital, and witnessed an additional investment of Rs 10 crore ($1.15 million) credit line from Venture Debt Cos. The company had previously raised $188K from Deepan Exim and others. The fresh funds will be used to expand its footprint into healthcare and hospitality, Quick Clean said in a press release. Co-founded in 2010 by Anshul Gupta and Ankur Gupta, Quick Clean started by introducing coin-operated laundromat services before evolving into an importer and distributor of commercial laundry equipment and expanding to 45 franchises in their first year of operation. The company has partnered with leading technology providers like Electrolux Professional, Trevil, and Rennai. The Gurugram-based company has a presence across 36 cities in India, with a team of over 750 experienced professionals and an ARR of Rs 80 crore. Quick Clean boasts over 3,000 installed machines across more than 120 five-star hotels and leading healthcare chains, including Taj, Marriott, Fairmont, ITC, Radisson, AIIMS, PMCH, and other large organizations. The company has claimed to have processed over 600 million kg of linen, saved 210 million liters of water (meeting the daily water requirement of 15 lakh households), and reduced 60 million kg of carbon emissions. Quick Clean aims to raise hygiene standards, enhance sustainability, and lead India’s professional linen management revolution.

Rapido raises Rs 250 Cr from Prosus as part of Series E round

EntrackrEntrackr · 9m ago
Rapido raises Rs 250 Cr from Prosus as part of Series E round
Medial

Rapido raises Rs 250 Cr from Prosus as part of Series E round Mobility firm Rapido is raising Rs 250 crore (around $29.7 million) from Prosus as part of Series E round. This funding comes just seven months after its $120 million round, which was led by WestBridge. The board at Rapido has passed a special resolution to issue 47,743 Series E preference shares at an issue price of Rs 52,467 each to raise Rs 250 crore or $29.7 million, the company's regulatory filing accessed from the Registrar of Companies shows. Rapido was set to raise approximately $60 million in a mix of primary and secondary funding from Prosus, as exclusively reported by Entrackr in October 2024. The ride-hailing app is raising $200 million in its Series E round at a $1.1 billion valuation. The company has already received two tranches—$120 million and $29.7 million. Following this latest tranche, Prosus will hold around 2.9% of Rapido. Based on Entrackr’s estimates, Rapido is currently valued at approximately Rs 8,726 crore (just over $1 billion). Rapido recorded 46.3% year-on-year growth, with revenue standing at Rs 648 crore in the fiscal year ending March 2024. The company also reduced its losses by 45%, bringing them down to Rs 371 crore during the same period. In Q2 FY25, Rapido reported a 2.5X year-on-year increase in gross order value (GOV), reaching Rs 2,461 crore, up from Rs 977 crore in Q2 FY24. The company also saw a two-fold increase in rides, totaling 207 million.

CollegeDekho raises Rs 30 Cr from Lighthouse Canton

EntrackrEntrackr · 8m ago
CollegeDekho raises Rs 30 Cr from Lighthouse Canton
Medial

CollegeDekho, an online platform that helps students choose the right college, has raised Rs 30 crore (around $3.5 million) from Lighthouse Canton. Earlier in December 2021, CollegeDekho closed a $35 million Series B round led by Winter Capital, ETS Strategic Capital, Calega, and Man Capital. With the latest fundraise, the company will enhance its technological infrastructure, expand its reach, and ensure seamless operations during the upcoming admission season. Founded by Ruchir Arora, CollegeDekho has helped over two lakh students gain admission into Indian colleges over the last seven years. It also partners with universities to offer skill-based degree programs. To strengthen its leadership, the company recently hired two experienced professionals. Arshad Mumtaz joined as chief operating officer of the retail business, bringing nearly 30 years of experience. Deep Prakash joined as Head of Sales—retail Business and GetMyUni, with over 20 years of expertise in sales and growth. As per TheKredible, CollegeDekho’s revenue from operations increased to Rs 216 crore in FY24 from Rs 163 crore in FY23. Its losses remained flat at Rs 129 crore in the last fiscal year.

ELIVAAS raises Rs 87 Cr in Series B round led by Vertex Ventures

EntrackrEntrackr · 3m ago
ELIVAAS raises Rs 87 Cr in Series B round led by Vertex Ventures
Medial

ELIVAAS raises Rs 87 Cr in Series B round led by Vertex Ventures Luxury vacation rental platform ELIVAAS has raised Rs 87 crore (approximately $10 million) in Series B funding led by Vertex Ventures Southeast Asia & India, with participation from existing investors Peak XV Partners’ Surge and 3one4 Capital. Entrackr had exclusively reported the development in April this year. In April 2024, the company raised $5 million in Series A funding led by 3one4 Capital, with participation from Peak XV Partners’ Surge and angel investors. The fresh proceeds will be used to expand its presence in India, prepare for entry into global markets, and invest in technology to scale operations. Sources indicate the company may have crossed Rs 500 crore in valuation. Founded in 2023 by Ritwik Khare and Karan Miglani, ELIVAAS manages luxury villas and apartments for short-term rentals. The platform serves both homeowners, by monetising and maintaining their properties, and travellers, by providing access to premium vacation accommodations. The company currently operates in 30 destinations across India and reported five-fold year-on-year revenue growth in FY25. While ELIVAAS has yet to disclose its FY25 numbers, the company recorded a revenue of Rs 7 crore and a loss of Rs 10.4 crore for the fiscal year ended March 2024, according to startup data intelligence platform TheKredible. Vertex Ventures Southeast Asia & India is an early-stage venture capital firm that partners with startups across Southeast Asia and India. It has invested in companies including Grab, FirstCry, Nium, Licious, Kuku FM, and PatSnap, supporting their growth across multiple sectors.

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