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Protectt.ai raises Rs 76 Cr in Series A round led by Bessemer

EntrackrEntrackr · 4m ago
Protectt.ai raises Rs 76 Cr in Series A round led by Bessemer
Medial

Protectt.ai, a mobile app cybersecurity and fraud control platform, has raised Rs 76 crore (around $8.7 million) in its Series A funding round led by Bessemer Venture Partners. The proceeds will be used to enhance the AI-driven mobile app security solution platform, accelerate product innovation, build new solutions for AI Security, and support its global expansion initiatives in the US, Middle East & APAC. Founded by Manish Mimani and Mohanraj Selvaraj, Protectt.ai offers a suite of mobile app security solutions, designed to safeguard mobile apps from emerging cyber threats and frauds. It also serves as a global compliance hub for mobile app owners who need to comply with regulations from entities such as RBI, SEBI, NPCI, and other regulatory bodies. Its mobile app XDR Platform offers advanced protection against evolving cyber threats, fraud, and malicious attacks, ensuring the security of mobile businesses and users worldwide. Protectt.ai claims to have covered over 300 million smartphones, processing approximately 2 billion mobile app sessions every month while preventing 200 million cyber threats and fraud events monthly.

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Innoviti kicks off Series E round with Rs 40 Cr led by Bessemer

EntrackrEntrackr · 1y ago
Innoviti kicks off Series E round with Rs 40 Cr led by Bessemer
Medial

Payment gateway and point of sales (PoS) provider Innoviti Technologies has raised Rs 40 crore in Series E round led by Bessemer Venture Partners and Patni Family Office. Several angel investors also joined the financing round. The proceeds will be deployed towards driving the firm’s mid-market expansion and further growing the online business that has scaled 4X in the past 12 months, the company said in a press release. According to Innoviti, this round is an ongoing one and it would raise more funds in the near future. Prior to this, the company raised funds from Bessemer, FMO, Patni and other investors in 2022. Innoviti provides payment gateway and PoS devices to merchants to facilitate online and card-based payments. Service fees charged from these facilitations were the sole source of operating revenue for Innoviti in FY23. According to the startup data intelligence platform TheKredible, Innoviti’s operating revenue grew to Rs 110.2 crore in FY23 while its losses grew 17.8% to Rs 86.5 crore in FY23. Innoviti also received the final nod from RBI to operate as an online payment aggregator earlier this year. The company says it is also aiming to become profitable by September 2024.

The Bear House raises Rs 50 Cr in Series A round led by JM Financial

EntrackrEntrackr · 3m ago
The Bear House raises Rs 50 Cr in Series A round led by JM Financial
Medial

The Bear House raises Rs 50 Cr in Series A round led by JM Financial The Bear House, a popular men’s fashion brand, has raised Rs 50 crore ($5.84 million) in its Series A round led by JM Financial India Growth Fund III. The proceeds will be used to open more physical stores, boost branding efforts, and meet working capital needs. The Bear House sells products like shirts, t-shirts, jeans, and footwear. It has mainly been sold online through platforms like Myntra, Flipkart, and Nykaa. Led by Harsh Somaiya, the firm opened its first physical store in Bengaluru in March 2025. It now plans to launch 20 more stores across India in the next two years. The Bengaluru-based startup claims to have already built a Rs 150 crore online brand while staying profitable and self-funded until now.

Exclusive: Rupifi to raise Rs 1,215 Cr via right issue

EntrackrEntrackr · 4m ago
Exclusive: Rupifi to raise Rs 1,215 Cr via right issue
Medial

B2B payments platform Rupifi is raising Rs 1,215 crore ($144 million) from existing investors, including Quona and Tiger Global, marking its largest funding round and its first in three years. The board at Rupifi has passed a special resolution to issue 66427 compulsory convertible preference shares at an issue price of Rs 1,82,818 each to raise Rs 1,215 crore or $144 million, its regulatory filing accessed from the Registrar of Companies shows. The filings indicate that existing investors are expected to participate in the round. Rupifi plans to utilize the funds to support its business operations and address additional capital requirements, as per filings. Founded in 2020, Rupifi enables MSMEs to access multiple lenders on digital B2B platforms and marketplaces, similar to iSpirt’s Open Credit Enablement Network. It offers Line of Credit, Invoice Financing, and loans, focusing on seamless digital experiences and smart underwriting for banks, NBFCs, and service providers. Rupifi has raised over $35 million to date including its $25 million in Series A led by Tiger Global and Bessemer in 2022. According to the startup data intelligence platform TheKredible, Quona Capital is the largest external stakeholder followed by Tiger Global and Bessemer Venture Partners. The Bengaluru-based firm reported flat revenue at Rs 33.74 crore for the fiscal year ending March 2024. Meanwhile, the company reduced its losses by 22.8%, bringing them down to Rs 61.6 crore in the last fiscal year from Rs 79.8 crore in FY23.

Innovist raises Rs 136 Cr led by ICICI Venture; Accel exits

EntrackrEntrackr · 3m ago
Innovist raises Rs 136 Cr led by ICICI Venture; Accel exits
Medial

Innovist, the parent company of Bare Anatomy, has raised Rs 136 crore (approximately $16 million) in a Series B funding round led by ICICI Venture. The round saw participation from Mirabilis Investment Trust, Niveshaay Investment, and existing backer Sauce. The funding round includes both primary and secondary components and will be directed toward product development, business growth, and team expansion, the company said in a media release. In the round, the company provided exit to Accel, which came in via their seed program (atoms). Rohit Chawla, founder and CEO, said that Innovist is one of the fastest-growing BPC (beauty and personal care) firms in the country and aims to cross Rs 300 crore in revenue by FY25. While the company has not yet filed its annual statements for FY24, it reported operational revenue of Rs 36.53 crore in FY23, along with a loss of Rs 16.87 crore. Innovist, previously known as Onesto Labs, was founded in 2018 by Chawla, Sifat Khurana, and Vimal Bhola. The company provides personal care products and currently manages three brands: Bare Anatomy, Chemist at Play, and Sunscoop. To date, Innovist has raised over $26 million, including a $7 million Series A round led by the Amazon Smbhav Venture Fund. According to startup data platform TheKredible, prior to this round, Sauce.VC was the largest external stakeholder, followed by 72 Ventures, Accel India, and the Amazon Smbhav Fund. It competes with D2C beauty brands like Minimalist, Mamaearth, Wow Skin Science, and Sugar Cosmetics.

Metalbook raises Rs 25 Cr debt from Northern Arc

EntrackrEntrackr · 1y ago
Metalbook raises Rs 25 Cr debt from Northern Arc
Medial

Full-stack metal supply-chain platform Metalbook has raised Rs 25 crore or (approximately $3 million) from Northern Arc. This is the first debt financing for the Delhi-based company. In February 2024, it raised $15 million led by Rigel Capital in Series A round. Metalbook’s board passed a special resolution to issue 250 non-convertible debentures at a face value of Rs 10,00,000 each to raise the above-mentioned sum, its regulatory filing sourced from Registrar of companies (RoC) shows. Founded in 2021, Metalbook is a full stack platform which helps businesses including SMEs with procurement, inventory liquidation, logistics, and credit among others. It claims to work with over 500 manufacturers, dealers and suppliers such as ArcelorMittal Nippon Steel, Tata Steel and JSW across 16 countries. In August last year, Axilor had led a $5 million seed round in Metalbook. The Delhi-based company is yet to disclose FY23 numbers but its revenue from operations stood at Rs 85.39 crore in FY22. Its losses also increased to Rs 25.90 crore in the same period. At the time of its Series A round in February, Metalbook said that it’s anticipating to achieve an annualized revenue run rate of $200 million by the end of FY24.

MS Dhoni-backed Garuda Aerospace raises Rs 100 Cr in Series B round

EntrackrEntrackr · 3m ago
MS Dhoni-backed Garuda Aerospace raises Rs 100 Cr in Series B round
Medial

MS Dhoni-backed Garuda Aerospace raises Rs 100 Cr in Series B round Drone technology startup Garuda Aerospace has raised Rs 100 crore ($11.6 million) in its Series B funding round led by Venture Catalysts (VCAT) at a post-money valuation of $250 million. Previously, the firm had raised $22 million in its Series A round led by Venture Capital firm SphitiCap in February 2023. The fresh proceeds will be used to scale up drone manufacturing, enhance production capabilities, and complete an R&D and testing center focused on defense drone technology. Founded in 2015 by Agnishwar Jayaprakash, Garuda has grown to a team of over 200 members and manufactures 30 drone types while offering 50 services. Garuda currently holds over 20 patents and operates a fleet of over 400 drones with 500 trained pilots across 84 cities. It serves clients including government agencies and major corporations such as TATA, Reliance, and Adani. It has also partnered with global companies like Lockheed Martin and Elbit Systems. As per TheKredible, Garuda Aerospace’s revenue from operations grew by 2.3X to Rs 110 crore in FY24 from Rs 47 crore in FY23. Its net profit reached Rs 16 crore in FY24, a 2.7X increase from Rs 6 crore in the previous year. Garuda competes with the likes of ideaForge, Aarav Unmanned Systems, Throttle Aerospace Systems, General Aeronautics, and Omnipresent Robot Tech in the drone manufacturing and drone-as-a-service (DaaS) segment across defense, agriculture, and industrial applications.

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