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Prosus, Accel, and Xeed lead pre-seed round in CodeKarma

EntrackrEntrackr · 22d ago
Prosus, Accel, and Xeed lead pre-seed round in CodeKarma
Medial

Developer productivity startup CodeKarma has raised $2.5 million in a pre-seed funding round led by Prosus, Accel, and Xeed Ventures. SenseAI Ventures and Stargazer Ventures also participated in the round. The proceeds will be used for global expansion, building AI-native infrastructure, and strategic hiring. Founded by Ananth Vanchi in 2025, CodeKarma provides a software productivity platform that integrates real-time production data into development workflows. Its core offering enables developers and AI systems to identify risks, remove unused code, and improve software quality through a closed-loop feedback system. It helps engineering teams across industries like e-commerce, fintech, and logistics manage large and evolving codebases by embedding production insights directly into developer tools. The startup plans to expand into the US enterprise market and strengthen its product capabilities.

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Decoding SpotDraft’s Series B funding round, latest valuation and captable

EntrackrEntrackr · 5m ago
Decoding SpotDraft’s Series B funding round, latest valuation and captable
Medial

SpotDraft, a contract lifecycle management (CLM) platform, has recently raised $54 million in its Series B round led by Vertex Growth Singapore and Trident Partners with the participation of Prosus, Premji Invest, Arkam Ventures, Volrado Venture Partners, and others. SpotDraft secured $26 million in its Series A funding round in March 2023. Entrackr has gone through its regulatory filings to decode the round breakup, captable, and current valuation. The board at SpotDraft allotted 1,39,025 Series B compulsory convertible preference shares at an issue price of Rs 33,938 each to raise Rs 472 crore ($54-55 million). The Series B round commenced in December 2024 with an initial investment of Rs 50.5 crore from Xeed Ventures through 021 Capital, Premji Invest, and Arkam Ventures through Unitary Fund. The remaining funds were secured in March 2025. Vertex Growth led the funding round with an investment of Rs 126 crore ($14.8 million), followed by Trident Partners and Prosus, which contributed Rs 109.6 crore ($12.9 million) and Rs 73.2 crore ($8.6 million), respectively. Other notable investors included Premji Invest (Rs 37.6 crore), Arkam Ventures (Rs 34 crore), and Xeed Ventures (Rs 33.6 crore), Volrado Venture Partners (Rs 25 crore). As per Fintrackr’s estimates, the company’s post-money valuation has now reached $190-$200 million. According to startup data intelligence platform TheKredible, the Bengaluru-based company has raised nearly $98.5 million to date. Following the allotment of the Series B round, Xeed Ventures emerged as the largest shareholder with a 15.8% stake in the company. It is followed by Arkam Ventures (10.27%), Premji Invest (10.24%). Co-founder Shashank Bijapur holds a 9.08% stake in the company. Founded in 2017, SpotDraft is an AI-powered contract lifecycle management (CLM) platform designed for in-house legal teams. It streamlines every stage of the contracting process, offering features such as AI-assisted redlining, e-signatures, an intelligent contract repository, third-party document handling, clickwrap agreements, and more. Spotdraft competes with other legaltech startups like Legistify, Leegality, Sirion, Vakilsearch, and others. SpotDraft’s revenue from operations grew threefold in FY24 to Rs 60 crore from Rs 20 crore in FY23, while its losses remained flat at Rs 68 crore during the same period.

Exclusive: Captain Fresh lines up debt funding before public listing

EntrackrEntrackr · 1m ago
Exclusive: Captain Fresh lines up debt funding before public listing
Medial

Exclusive: Captain Fresh lines up debt funding before public listing B2B seafood supply chain company, Captain Fresh is raising Rs 45 ($5.3 million) in debt funding from Lighthouse Canton and Stride Ventures ahead of its planned initial public offering (IPO). The Bengaluru-based company recently transitioned into a public entity, as exclusively reported by Entrackr a couple of weeks ago. As per its filings with the Registrar of Companies (RoC), Captain Fresh’s board has passed resolutions to issue 4,500 non-convertible debentures (NCDs) with a face value of Rs 1,00,000 each to raise the aforementioned amount. Notably, the company has already received Rs 30 crore from Lighthouse Cantor, with the remaining amount expected to follow shortly. The Tiger Global-backed company reportedly plans to file its IPO papers in mid-August and is in talks to raise $50–75 million in a pre-IPO round ahead of its proposed $400 million initial public offering. It has also roped in Axis Capital and Bank of America (BofA) as lead bankers for the issue. Founded in 2019 by Utham Gowda, Captain Fresh is a multi-species seafood brand that provides a platform for sourcing and supplying animal protein, including fish, crabs, lobsters, and other seafood. According to the startup data intelligence platform TheKredible, Captain Fresh has raised over $200 million to date, including a $30 million pre-IPO round in January this year from Prosus, Accel, Tiger Global, and others. Matrix Partners, Accel, Tiger Global, Ankur Capital, and Prosus are some notable investors for Captain Fresh. While the company has yet to disclose its FY25 numbers, Captain Fresh’s gross revenue (GMV) rose 71% to Rs 1,395 crore in FY24 from Rs 817 crore in FY23. The company also reduced its net loss by 22%, bringing it down to Rs 229 crore in the same period.

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