🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

Related News

Men’s ethnicwear brand Kisah secures Rs 13 Cr to expand offline and D2C biz

EntrackrEntrackr · 1m ago
Men’s ethnicwear brand Kisah secures Rs 13 Cr to expand offline and D2C biz
Medial

Men’s ethnicwear brand Kisah secures Rs 13 Cr to expand offline and D2C biz Co-founded in 2018 by Yash Sarawagi and Yashwi Ladasaria, Kisah offers high-fashion ethnicwear for Gen Z and millennials at accessible prices. Men’s ethnicwear brand Kisah Apparels has raised Rs 13 crore (1.52 million) in a pre-Series A funding round led by Wow! Momo founder Sagar Daryani, along with participation from Apoorv Salarpuria, Rahul Todi, Vinod Dugar, and Inflection Point Ventures. The proceeds will be utilized towards expanding its offline presence, scaling up direct-to-consumer (D2C) operations, and investing in brand-building, Kisah said in a press release. The Kolkata-based brand began with a marketplace-first model and is now evolving into an omnichannel brand. It currently operates two offline retail stores, with three more outlets planned across key Indian cities. “E-commerce gave us pan-India reach and deep customer insights, which are now fueling our D2C and offline growth—backed by data, customer pull, and positive cash flow at the company level,” said Yash Sarawagi, co-founder and CEO of Kisah Apparels. Kisah added that it has built internal systems to analyze data from its marketplace and D2C operations, which inform product design, sourcing decisions, supply chain efficiency, and marketing campaigns. The brand claims to have grown from Rs 40–45 crore to a run rate of over Rs 100 crore, with positive operating cash flow and PAT.

Zolostays sells college accommodation biz to Good Host Spaces for Rs 108 Cr

EntrackrEntrackr · 3m ago
Zolostays sells college accommodation biz to Good Host Spaces for Rs 108 Cr
Medial

In October 2023, Alta Capital is said to have acquired the entire 100% stake held by Goldman Sachs and Warburg Pincus in Good Host Spaces for a reported $320 million. Co-living and home rental startup Zolostays has sold its student housing business, which manages accommodation for colleges and universities, to Good Host Spaces, as part of the firm’s move to focus on its core offerings. The board of Zolo Stays has approved a special resolution to sell the undertaking through a slump sale valued at Rs 107.8 crore (approximately $12.5 million), according to regulatory filings sourced from the Registrar of Companies. Of the total consideration of Rs 107.8 crore, Rs 97.02 crore (90%) will be paid in cash, while the remaining Rs 10.78 crore will be settled through debentures issued by Good Host Spaces to Zolo Stays. Good Host Spaces owns and operates third-party, purpose-built student accommodations located within leading university campuses such as Manipal University, OP Jindal Global University, and Shoolini University. “The sale will enable the company to focus on its core business operations and pursue growth opportunities in those areas. The lump sum consideration will improve the company’s liquidity position and strengthen its balance sheet,” the company added in the filings. Zolostays also raised Rs 20 crore debt by issuing non-convertible debentures to VentureSoul Managers India LLP for business expansion, meeting working capital and others, a separate resolution shows. Zolostays has secured over $110 million in funding to date, including a $56 million Series C round led by Investcorp and Mirae Asset. According to the startup data intelligence platform TheKredible, Nexus Ventures is the largest external stakeholder, followed by Investcorp and Mirae Asset. Zolo Stays recorded an 11.4% year-on-year growth in revenue to Rs 204.4 crore during the fiscal year ended March 2024, while its losses narrowed by 17.4% to Rs 57 crore in the same period. The sale is an interesting development in the segment, where Good Host Spaces has stolen a march over competition in more ways than one. From funding to significant tie-ups with fast-expanding University campuses, it has built a strong business that might have convinced existing ZoloStays stakeholders to opt out. The distinct approaches taken by the acquired and the acquirer, in terms of offering independent PG accommodation versus captive campuses, is a good indicator of where the market has shifted, and it should be interesting to see how GHS handles the acquired business now.

Travel accessories brand EUME raises Rs 25 Cr in Series A

EntrackrEntrackr · 1m ago
Travel accessories brand EUME raises Rs 25 Cr in Series A
Medial

Travel accessories brand EUME has raised Rs 25 crore ($3 million) in its Series A equity round led by investor Ashish Kacholia. Existing backers including Pradeep Rathod of Cello Group and Prithviraj Kothari of Arvog Financial also participated. Earlier in June last year, the Mumbai-based startup had raised Rs 15 crore ($1.7 million) in a new round led by Ashish Kacholia. The proceeds will be used to scale physical retail, strengthen operations, invest in marketing, and support working capital needs. Founded by Naina Parekh and Pranay Parekh, EUME began as a design-forward luggage brand and has built awareness through associations with events like the Tata Mumbai Marathon and SulaFest. EUME plans to open three flagship stores within 45 days in Bengaluru (Mall of Asia), Mumbai (Oberoi Sky City), and Hyderabad (Sarath City). These new locations are part of the firm’s strategy to grow its offline presence and tap into metro markets. The brand aims to position itself as a premium luggage player, combining retail expansion with product innovation. The brand is set to expand its portfolio across travel categories and focus on premium-priced offerings. It also continues to grow its presence in both B2C and B2B segments, including corporate gifting partnerships.

Peak XV-backed TrueFoundry secures $19 Mn in Series A funding

EntrackrEntrackr · 5m ago
Peak XV-backed TrueFoundry secures $19 Mn in Series A funding
Medial

TrueFoundry, an AI deployment and scaling platform, has raised $19 million in Series A funding, led by Intel Capital. Existing investors Eniac Ventures and Peak XV’s Surge, along with new investor Jump Capital and several angel investors, including Gokul Rajaram, Mohit Aron, Cyan Banister, and executives from Fortune 1000 companies, also participated. Avi Bharadwaj, the investment director at Intel Capital, will join TrueFoundry’s board of directors. The Bengaluru and San Francisco-based startup had previously raised $2.3 million in its seed round, led by Peak XV’s Surge, in September 2022. The new funding round will enable TrueFoundry to advance its mission of creating a universal platform for building and deploying AI applications without infrastructure challenges, the company said in a press release. The investment will also support key growth initiatives, such as expanding the team and enhancing go-to-market strategies to drive customer acquisition and business expansion. TrueFoundry offers a cloud-native platform designed to simplify machine learning (ML) training and deployment, enabling enterprises to efficiently manage AI applications. By collaborating with prominent companies such as Games 24x7 and Whatfix, TrueFoundry improves ML scalability and maximizes infrastructure efficiency. “Enterprises using TrueFoundry have built and launched their internal AI platforms in as little as two months, achieving ROI within four months—a stark contrast to the industry average of 14 months,” said Nikunj Bajaj, CEO and co-founder of TrueFoundry. According to the company, its platform integrates with multiple clouds, models, and frameworks, preventing vendor lock-in and ensuring deployments are prepared for emerging AI trends such as RAGs and Agents. This funding round comes after a year of strong growth for TrueFoundry, including a 4X year-over-year increase in customers, the deployment of more than 1,000 ML clusters, and partnerships with global companies like Siemens Healthineers, ResMed, Automation Anywhere, and NVIDIA.

PV Sindhu-backed Better Nutrition nets Rs 10 Cr in seed round

EntrackrEntrackr · 3m ago
PV Sindhu-backed Better Nutrition nets Rs 10 Cr in seed round
Medial

Biofortified food brand Better Nutrition has raised Rs 10 crore in a seed funding round from family offices, high-net-worth individuals (HNIs), and angel investors such as Namita Thapar, Shantanu Deshpande, PV Sindhu, Aclr8.vc, Apurva Chamaria, Karan Jindal, and Akshay Ghulati. This round saw reaffirmation from early investors, with nearly 30% of the total funding coming from existing backers. Greenday, the parent company of Better Nutrition, had raised Rs 3.1 crore in 2022 in a round led by IIM Ahmedabad Ventures. The fresh funds will be deployed to expand product offerings in biofortified food categories, strengthen distribution across quick commerce, offline retail, and direct-to-consumer (D2C) channels, scale farmer training programs and sustainable sourcing initiatives, and invest in R&D, Better Nutrition said in a press release. Co-founded in 2023 by Prateek Rastogi and Aishwarya Bhatnagar, Better Nutrition aims to address the nation's nutritional challenges by offering biofortified grains that are naturally enriched with essential nutrients such as zinc, iron, protein, and calcium. The Lucknow-based company collaborates with over 15,000 farmers and, by fostering a growing network of rural micro-entrepreneurs, strives to make nutrient-rich grains accessible to every Indian household, thereby enhancing energy, immunity, and overall health without necessitating significant dietary changes. The company plans to scale its products across pulses, oilseeds, and other foundational crops. Its next line of products will be foods made from its own crops, retaining their nutrient density, low-GI profile, and pesticide-free integrity. Better Nutrition states that it has witnessed a 3X growth in both revenue and valuation. It was also featured on Shark Tank India and achieved a 5X increase in revenue, a 10X surge in website traffic, fulfilled over 25,000 orders, and expanded across major quick commerce platforms, including Blinkit, Zepto, Swiggy Instamart, and BigBasket.

Agritech startup Superplum raises $15 Mn in Series A round

EntrackrEntrackr · 1y ago
Agritech startup Superplum raises $15 Mn in Series A round
Medial

Agritech startup Superplum has raised $15 million in its Series A financing round led by Erik Ragatz, former partner and current senior advisor of private equity firm Hellman & Friedman. Ragatz joins a group of Superplum’s current investors including Mark Siegel, Dan Rose, Steve Jurvetson, Rick Kimball, Binny Bansal, and Kabir Misra. The Noida-based startup closed its pre-Series A round of $3.8 million in June 2021 and has raised close to $22 million to date. The funds will enable Superplum to continue to build out its infrastructure and accelerate its journey to transform produce supply chains in India, the company said in a press release. Started in 2019 by Shobhit Gupta, Superplum has built a direct-from-farm produce supply chain, using proprietary technology and cold-chain infrastructure to improve how produce is grown and brought to market. The company extends shelf lives and enhances fruit quality, reducing food waste and improving farmer incomes. It claims to be India’s first premium fruit brand that provides consumers with superior quality and healthier produce—across mangoes, litchis, apples, grapes, cherries, and plums, among others. The company works with farmers across 22 states in India including Bihar, Kashmir and Karnataka and runs modern sourcing and supply chains for 25 fruits across the year. Superplum sells its produce through Amazon Fresh, Zepto, Swiggy, and Blinkit. Its premium fruits are also available at major retailers such as Spar, Metro, Lulu, Modern Bazaar, More, and Trent as well as grocery stores in NCR and Bengaluru. According to startup data intelligence platform TheKredible, agritech startups saw a sharp fall in investment to $182 million in 2023 from $773 million in 2022 and $635 million in 2021.

Starbucks India posts Rs 1,218 Cr revenue in FY24; losses surge 3.2X

EntrackrEntrackr · 10m ago
Starbucks India posts Rs 1,218 Cr revenue in FY24; losses surge 3.2X
Medial

Starbucks India has emerged as the largest coffee chain in the country as the company left Coffee Cafe Day behind in terms of revenue during the fiscal year ending March 2024. However, the firm barely managed double digit growth in the said fiscal year and at the same time, its losses widened over three-fold. Tata Starbucks’ revenue from operations increased 12.05% to Rs 1,218 crore in FY24 from Rs 1,087 crore in FY23, its standalone annual financial statements filed with the Registrar of Companies (RoC) show. Starbucks For background, Starbucks India is a joint venture between Starbucks Coffee Company and Tata Consumer Products Limited. Launched in 2012, Tata Starbucks now operates in over 390 stores across 54 Indian cities, with approximately 4,300 partners. Its nearest competitor Coffee Cafe Day’s revenue stood at Rs 1,013 crore in FY24. As of March 2024, it had 450 stores. Starbucks also competes with several new-age coffee startups including Blue Tokai, Rage Coffee, Third Wave Coffee Roasters, Slay Coffee, Sleepy Owl, and Seven Beans Co among several others. Coming to Tata Starbucks revenue, the sale of coffee and related products formed most of its revenue. The rest of the income came from the loyalty program called My Starbucks Rewards where the customers earn loyalty points (Stars). For a coffee-selling company, the procurement of coffee beans, and other related products accounted for 26% of the total expenditure. To the tune of scale, this cost increased 8.5% to Rs 343 crore in FY23. Its employee benefits, rent, electricity, advertisement cum promotion, royalty, transportation, and other overheads took the firm’s overall expenditure to Rs 1,320 crore in FY24 from Rs 1,140 crore in FY23. See TheKredible for the complete expense breakup. Along with flat scale, Starbucks India’s losses surged 3.2x to Rs 80 crore in FY24 from Rs 25 crore in FY23. Its ROCE and EBITDA margin stood at 0.4% and 18%, respectively. On a unit level, the firm spent Rs 1.08 to earn a rupee in FY24. FY23-FY24 FY23 FY24 EBITDA Margin 19% 18% Expense/₹ of Op Revenue ₹1.05 ₹1.08 ROCE 3% 0.4% Coffee chains, by their very nature seek upscale locations, which means rental costs can be very high. Starbucks India, which is still in expansion mode with a possible target of 1000 stores by 2028, faces that challenge, besides the more obvious one of finding customers for its pricey offerings. Multiple startups encroaching in the same segment has not helped, as unlike the humble tea, coffee snobs are a very real thing, and many of the new upstarts have built a following accordingly. More than losses, Starbucks India will possibly be more focused on metrics like same store sales growth and footfalls for now, as its menu offerings have enough margins to deliver handsomely if footfalls increase significantly. The question is, will premium coffee find a deep enough market, or will it run up against the by now famously shallow middle class market?

Fur Jaden raises Rs 9.5 Cr in pre Series A from Gruhas Collective Consumer Fund

EntrackrEntrackr · 3m ago
Fur Jaden raises Rs 9.5 Cr in pre Series A from Gruhas Collective Consumer Fund
Medial

Snippets Fur Jaden raises Rs 9.5 Cr in pre Series A from Gruhas Collective Consumer Fund Lifestyle luggage brand Fur Jaden has picked up Rs 9.5 crore (about $1.1 million) in pre-Series A funding round led by Gruhas Collective Consumer Fund (GCCF). The proceeds will be used to accelerate growth by building high-calibre professional teams, amplifying brand presence, expanding product categories, and scaling omnichannel retail reach, Fur Jaden said in a press release. Co-founded in 2015 by Sahil Rajesh Bansal and Karishma Bansal, Fur Jaden is an innovative Indian fashion and lifestyle accessory brand committed to redefining the perception of backpacks and luggage. With a focus on sustainability, innovation, and design, the brand offers a diverse range of products that cater to the evolving needs of modern consumers, positioning itself as more than just a product manufacturer, but a lifestyle partner. Since its inception, Fur Jaden claims that it has built a devoted consumer base, delighting over 1 million customers with its curated product portfolio. This spans multiple categories, including luggage, travel duffles, backpacks, and crossbody bags. With a firm commitment to sustainability, 50% of the brand’s product line features an eco-friendly range, incorporating cruelty-free vegan leather and recycled canvas. According to market research, the Indian luggage, bags, and backpack market was estimated at Rs 20,400 crore in 2024 and is projected to reach Rs 29,900 crore by 2030, growing at a CAGR of 8% from 2025 to 2030. Over the next 16–18 months, the brand aims to achieve an annual recurring revenue (ARR) of Rs 100 crore in net revenue. Simultaneously, over the next five years, the brand is focused on cementing its position as a leading home-grown lifestyle luggage brand with a robust pan-India presence.

Fasal reports Rs 34 Cr revenue in FY24; earns 91% from fruit sales

EntrackrEntrackr · 11m ago
Fasal reports Rs 34 Cr revenue in FY24; earns 91% from fruit sales
Medial

Agritech startup Fasal raised $12 million led by TDK Ventures and British International Investment (BII) in December last year. The significant funding seems to have given cushion to the six-year-old firm which earned only Rs 58 crore since its inception in 2018. Fasal’s revenue from operations increased 89% to Rs 34 crore in FY24 from Rs 18 crore in FY23, as shown in its annual financial statements filed with the Registrar of Companies (RoC). Founded in 2018, Fasal leverages AI, crop sciences, and IoT to deliver crop-stage-specific intelligence which optimizes resources and enhances productivity. Despite such strong focus on tech, only 9% of the firm’s total revenue ~Rs 3 crore came from these services. Meanwhile, Fasal made 91% of its revenue from selling fruits. For the agritech model which eventually converted into a supply chain, the cost of procurement was naturally the largest cost center which accounted for 47% of the overall expenditure. To the tune of scale, this cost increased 83% to Rs 33 crore in FY24. Its employee benefits, legal, advertising cum business promotion, packaging, forwarding, and other overheads pushed the overall cost to Rs 70 crore in FY24 from Rs 52 crore in FY23. See TheKredible for the detailed cost breakup. At Rs 30 crore, the increase in fruit sales helped Fasal to contain its losses in FY24. Its ROCE and EBITDA margin hovered at -45.7% and -80%, respectively. On a unit level, the firm spent Rs 2.06 to earn a rupee in the fiscal year ending March 2024. FY23-FY24 FY23 FY24 EBITDA Margin -146.32% -80% Expense/₹ of Op Revenue ₹2.89 ₹2.06 ROCE -163.53% -45.71% Fasal has raised $18 million to date including its pre-series of $4 million in 2021. According to the startup data intelligence platform TheKredible, Omnivore is the largest external stakeholder with 15.99% followed by 3One4 Capital. See TheKredible for the complete shareholding pattern. By now, far too many agritech startups have followed the same pattern. Start off with a heavy on tech proposition that promises to disrupt farming itself, before discovering it’s just too difficult to move the needle there. And while at it, spot an alleged opportunity in price arbitrage between farmer rates and retail rates, and turn a seller. For one, this pattern is flawed simply because most of these startups are mistaken if they think they can negotiate better than the established network of traders on the ground. That is probably why we see startups allegedly selling farm fresh fruits and veggies still retailing stuff that can be a 100% premium to the push cart based sellers. On top of that are quality issues of depending on luck versus the hand picked comfort of buying yourself. Finally, the search for margins leads to a gradual spread of the portfolio or Sku’s, a surefire recipe to burn through funding faster. If it’s ever going to work, it might work for a handful of startups. For the rest, we have to wonder just what it will take.

Safegold gross revenue nears Rs 5,000 Cr in FY23; turns profitable

EntrackrEntrackr · 1y ago
Safegold gross revenue nears Rs 5,000 Cr in FY23; turns profitable
Medial

Several digital investment platform users like Zerodha, Groww, Upstox, and more saw a huge uptick in user base in the last couple of years, mainly driven by the stay-at-home-norms during the Covid phase. Beyond the stock markets, investment in digital gold experienced a turnaround, too. This could also be evident from Safegold’s exceptional financial performance in FY23. Safegold gross revenue surged by 81.8% to Rs 4,498 crore in FY23 from Rs 2,474 crore in FY22, its consolidated financial statements filed with the Register of Companies show. Safegold is a digital platform enabling customers to effortlessly purchase, sell, and securely receive vaulted gold, even at minimal amounts. The sale of digital gold from online and offline platforms was the only source of revenue for the Delhi-based company. Notably, 79.2% of Goldsafe’s trade comprises wholesale transactions, with the remaining portion falling under retail trade. For the digital gold platform, the purchase of digital gold and related items accounted for 99.1% of the overall expenditure. In tune with scale, this cost grew 99.1% to Rs 4,459 crore in FY23 from Rs 2,443 crore in FY22. Its employee benefits, legal/professional, advertising, distribution, and other overheads took the overall cost to Rs 4500 crore in FY23 from Rs 2475 crore in FY22. See TheKredible for the detailed expense breakup. The 80% year-on-year scale and controlled expenditure helped Safegold to register a profit of Rs 11 crore in FY23 where the figures were at a loss of Rs 1 crore in FY22. Its ROCE and EBITDA margin stood at 46% and 0.2% respectively. On a unit level, it spent Rs 1 to earn a rupee in FY23. FY22-FY23 FY22 FY23 EBITDA Margin 0% 0.2% Expense/₹ of Op Revenue ₹1.00 ₹1.00 ROCE -8% 46% Safegold is backed by Pravega Ventures, Beenext, a Singapore angel network, and individuals like Rajan Anandan, Roshan Angrish, Prashant Malik, and Niraj Shah. Head to TheKredible for the complete shareholding. In what is a business built on the finest of margins in a commodity as well established as gold, the company has done well to deliver high growth. But with margins set to remain slim, and profitability delivered on the back of interest income, the firm still needs work to ensure costs stay in check as volumes grow. That sounds possible in a category like Gold, especially in a bullish market for the yellow metal, making Safegold a firm to keep an eye on .

Download the medial app to read full posts, comements and news.