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Kriscore Capital announces first close of Rs 200 Cr

EntrackrEntrackr ยท 6m ago
Kriscore Capital announces first close of Rs 200 Cr
Medial

Kriscore Capital, a newly launched venture firm focusing on early-stage Indian tech startups, has announced the first close of its maiden Rs 200 crore ($23.3 million) fund, with an initial corpus of Rs 100 crore and a greenshoe option for an additional Rs 100 crore. The fund has secured Rs 50 crore in commitments from family offices and high-net-worth individuals. It plans to invest in 16-18 tech-driven startups at the pre-seed and seed stages, targeting sectors such as digital consumer services, supply chain resilience, global export potential, generative AI, and net-zero initiatives. Kriscore has already deployed its first investment in a stealth-mode startup. General Partner Nilesh Balakrishnan, formerly of WaterBridge Ventures, said the firmโ€™s commitment to providing strategic mentorship alongside capital to build globally impactful businesses. Kriscoreโ€™s advisory board includes industry leaders such as D Sundaram (Infosys), Shyam Srinivasan (ex-Federal Bank), and Manish Khetarpal (WaterBridge Ventures), further enhancing the firmโ€™s strategic capabilities.

Exclusive: Oxyzo secures Rs 100 Cr debt

EntrackrEntrackr ยท 9m ago
Exclusive: Oxyzo secures Rs 100 Cr debt
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Exclusive: Oxyzo secures Rs 100 Cr debt Fintech unicorn Oxyzo has secured Rs 100 crore (approximately $12 million) in debt from AK Capital Finance, a subsidiary of merchant banker A.K. Capital Services Ltd. The boards at Oxyzo allotted 1,00,000 non-convertible debentures to AK Capital at an issue price of Rs 10,000 each to raise Rs 100 crore, its regulatory filing sourced from the Registrar of Companies shows. The aforementioned debentures are issued for a tenure of 24 months and carry an interest rate of 9.75% per annum, the filing added. The proceeds will be used to augment the long-term resources of the company and meet working capital requirements. Oxyzo is the lending arm of B2B e-commerce unicorn OfBusiness, providing customized credit solutions for SMEs. It offers a range of loan products, including term loans, working capital solutions, low-interest rates, and collateral-free credit options. According to data intelligence platform TheKredible, the Gurugram-based company reported operating revenue of over Rs 900 crore and a profit of Rs 290 crore for the financial year ending 2024. Oxyzoโ€™s net profit grew 11.38% to Rs 82.89 crore and sales jumped 27.43% to Rs 282.80 crore in the quarter ended December 2024 (Q3 FY25), compared to Rs 221.93 crore in December 2023. The Ruchi Kalra-led firm achieved unicorn status by raising $200 million in its first external funding round, and it became the first startup to surpass a $1 billion valuation during its Series A round. As per TheKredible, OFB group including promoters holds 74.5% while Alpha Wave is the largest external stakeholder with 7.4% followed by Tiger Global.

UK-India cross-border VC firm Pontaq secures Rs 10 Cr from Navyug Global

EntrackrEntrackr ยท 2m ago
UK-India cross-border VC firm Pontaq secures Rs 10 Cr from Navyug Global
Medial

UK-India cross-border VC firm Pontaq has secured a Rs 10 crore investment from Navyug Global for its India-focused fund. The proceeds will be used to fund over 10 deep-tech startups in the cleantech and fintech sectors, Pontaq said in a press release. Navyug Globalโ€™s commitment as a Limited Partner (LP) reinforces confidence in Pontaqโ€™s investment strategy and track record, supporting the firmโ€™s ongoing fund expansion to back innovative startups in deeptech, sustainability, and frontier technologies across India and the UK. Pontaqโ€™s India Fund focuses on early-stage investments across deeptech, AI, climate tech, and enterprise solutions, helping startups scale across geographies. Pontaq is a cross-border venture capital firm operating across the UKโ€“India corridor, with investments spanning the US and Canada. The fund backs high-impact technology ventures in sectors such as cleantech, healthtech, fintech, and deeptech, with a strong focus on scalable innovations that create economic, social, and environmental impact. Beyond capital, Pontaq provides hands-on mentorship, strategic guidance, and global market access, enabling startups to scale rapidly and deliver transformative solutions across geographies.

Exclusive: Moneyview secures Rs 100 Cr debt, appoints independent directors

EntrackrEntrackr ยท 13d ago
Exclusive: Moneyview secures Rs 100 Cr debt, appoints independent directors
Medial

Exclusive: Moneyview secures Rs 100 Cr debt, appoints independent directors Consumer lending platform Moneyview has raised Rs 100 crore (about $11.4 million) in debt from RevX Capital and Motilal Oswal. The infusion comes at a time when the company has been gearing up for a potential public listing. According to the companyโ€™s filing with the Registrar of Companies (RoC), Moneyviewโ€™s board has issued 100 non-convertible debentures (NCDs) at a face value of Rs 1 crore each to raise Rs 100 crore. RevX Capital led the round with Rs 45 crore, followed by Motilal Oswal with Rs 40 crore, while Arthos Corporate and ElectroMech India contributed Rs 11 crore and Rs 4 crore, respectively. The Tiger Globalโ€“backed company is likely to raise more debt in multiple tranches of up to Rs 750 crore, according to the filing. According to a separate filing by the company in September, Moneyview has appointed Alpana Parida, Sameer Kumar Baiswala, and Anil Berera as non-executive independent directors of the company. Founded in 2014, Moneyview offers personalized products such as instant loans, cards, BNPL, and financial management tools, partnering with over 15 lenders. It also plans to expand into digital bank accounts, insurance, and wealth management services. The company claims to have over 65 million users and more than 5 crore app downloads. According to startup data platform TheKredible, the Bengaluru-based firm has raised over $240 million across multiple rounds from investors including Accel, Tiger Global, and Ribbit Capital. The company entered the unicorn club in September last year after raising $4.6 million from Accel and Nexus Venture Partners. On the financial side, Moneyview maintained its strong growth momentum and posted a 74% YoY increase in its revenue in FY25. Profits for the fintech unicorn grew 40% to Rs 240 crore during the year. As per media reports, Moneyview is eyeing to raise over $400 million (around Rs 3,400 crore) through its initial public offering (IPO) and has reportedly appointed Axis Capital, Kotak Mahindra, and others as its banking partners.

Zomato secures Rs 8,500 Cr via QIP

EntrackrEntrackr ยท 1y ago
Zomato secures Rs 8,500 Cr via QIP
Medial

Zomato Limited announced on Friday that it has raised Rs 8,500 crore through a Qualified Institutions Placement (QIP) of equity shares. Last week, the foodtech firm received shareholdersโ€™ approval for the fundraise. The issuance involved 33,64,73,755 equity shares at Rs 252.62 each, including a premium of Rs 251.62 per share. This issuance price represents a 5% discount on the determined floor price of Rs 265.91 per share, the company informed in its stock exchange filings. This capital infusion is expected to bolster Zomato's financial position, facilitating business expansion and strategic initiatives, especially in the quick commerce space via Blinkit. The offering, which opened on November 25 and closed on November 28, received approval from Zomatoโ€™s Fund Raising Committee during its meeting held earlier today. Prominent mutual funds, such as ICICI Prudential and Motilal Oswal, were among the significant allottees, with the latter acquiring a total of 6.92 crore shares, accounting for 20.81% of the issue size. After the transaction, Zomatoโ€™s paid-up equity share capital has risen to Rs 917.28 crore. For the fiscal year ending in, Zomato achieved a remarkable 68.5% quarter-on-quarter growth in operating revenue, reaching Rs 4,799 crore in Q2 FY25 from Rs 2,848 crore in Q2 FY24. The company also recorded a 4.8x increase in net profit to Rs 176 crore in the September quarter. A recent report by Motilal Oswal highlights that Blinkit, owned by Zomato, dominates the quick commerce market with a 46% share. Zepto holds the second position with a 29% share, while Swiggy Instamart follows in third place with a 25% market share. Compared to the closing price of last Friday (November 22), Zomato saw a 6.8% rise to Rs 282 per share at 11:30 AM on November 29, 2024. The companyโ€™s market cap currently stands at around Rs 2,35,481 crore or $28 billion, while its closest rival, Swiggy, is trading at Rs 470 per share with a market cap of Rs 90,712 crore or $10.7 billion.

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