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Retail intelligence platform Bizom raises $12 million in round led by VC firm Pavestone

Economic TimesEconomic Times · 7m ago
Retail intelligence platform Bizom raises $12 million in round led by VC firm Pavestone
Medial

Retail intelligence platform Bizom has raised $12m in a funding round led by venture capital firm Pavestone. Bizom's software-as-a-service (SaaS) platform aims to optimise distribution processes for retail brands by improving sales efficiency, streamlining product distribution and strengthening retailer-brand relationships. The funding will be used to scale innovations, strengthen delivery mechanisms and expand key accounts. Bizom currently serves over 600 consumer brands across 30 countries and plans to double its revenue every year going forward. The investment will support the company in leading the digital transformation of India's retail distribution landscape.

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Pavestone VC marks final close of Rs 816 Cr fund

EntrackrEntrackr · 8m ago
Pavestone VC marks final close of Rs 816 Cr fund
Medial

Venture capital firm Pavestone VC has marked the final close of its Pavestone Technology Fund at Rs 816 crore (around $97 million). The total corpus of the fund is Rs 816 crore, surpassing its initial target of Rs 600 crore. The corpus was increased twice through the greenshoe option to accommodate investor interest. The fund saw participation from The Self-Reliant India (SRI) Fund, the family office of Mankind Pharma promoters, and Colruyt Group India. Earlier in June, the maiden fund secured Rs 15 crore (around $1.8 million) from Colruyt Group India. Through this tech fund, Pavestone is looking to invest in 14-15 growth-stage B2B technology companies with an average cheque size of $5-10 million. Founded in 2021 by Sridhar Rampalli, Srikanth Tanikella and Laxmikanth V, Pavestone VC primarily makes its bet on growth-stage startups across deeptech and enterprise tech sectors via its maiden fund Pavestone Technology Fund. The Hyderabad-based vc firm counts E42, NewSpace Research & Technologies, LivNSense and Bellatrix Aerospace among its portfolio companies.

D2C luggage brand uppercase raises $9 Mn led by Accel

EntrackrEntrackr · 11m ago
D2C luggage brand uppercase raises $9 Mn led by Accel
Medial

D2C luggage brand Uppercase (Acefour Accessories) has raised $9 million in a Series B round led by venture capital firm Accel. As per uppercase, it has raised the new round at a post money valuation of $60 million. In 2022, the company had raised $7 million in apPre-Series A funding round led by Sixth Sense Ventures, with participation from Volrado Venture Partners. The funding will support business expansion, aiming to increase its customer base across India, uppercase said in a press release. Founded by Sudip Ghose, uppercase sells travel gear online and through 1,800 multi-brand stores across India. Its products are priced in the range of Rs 3,500-5,000. The Mumbai-based company aims to achieve its Rs 500 crore goal by adding 250 exclusive retail stores over the next three years. Earlier this year, luggage brand Mokobara raised $12 million in a Series B funding round led by Peak XV Partners. Besides Mokobara, uppercase also competes with Assembly, Nasher Miles and EUME. While Nasher miles raised $4 million in July, EUME bagged $1.7 million in June. As per startup data intelligence platform TheKredible, uppercase reported an operating revenue of Rs 10.65 crore in FY23 with Rs 21 crore loss. The company is targeting to more than double its revenue to Rs 150 crore by FY25, up from Rs 70 crore in FY24.

Ice cream brand Hocco raises $10 Mn in first close of Series B round

EntrackrEntrackr · 2m ago
Ice cream brand Hocco raises $10 Mn in first close of Series B round
Medial

Premium ice cream brand Hocco has raised $10 million as the first tranche of its $20 million Series B round, co-led by promoter Chona Family Office and consumer-focused venture capital firm Sauce VC. The fresh round has come within a year for the Ahmedabad-based company. It scooped up $12 million in its Series A round from the same investors at a valuation of Rs 600 crore ($70 million). The company said the second close of the round is expected later this year. The fresh funds will be deployed towards expanding Hocco’s manufacturing capacity, strengthening distribution networks, and entering new markets across India. A portion of the capital will also be allocated to new product development and brand marketing. Founded by the Chona family — former owners of legacy ice cream brand Havmor — Hocco offers a mix of regional and globally inspired flavours across retail, QSR, and quick commerce channels. The company aims to close FY25 with Rs 500 crore in revenue. According to startup data intelligence platform TheKredible, it reported only Rs 32.38 crore in revenue in FY24 with a Rs 20.23 crore loss. Besides legacy players such as Amul, Vadilal, and Hindustan Unilever (HUL), Hocco competes with new-age ice cream brands such as Walko Foods’ NIC, Hangyo, Go Zero, NOTO Ice Cream, among others. In February 2024, NIC raised $20 million in a new funding round led by Jungle Ventures, a year after raising $11 million led by the same investor. Last year, Hangyo raised $25 million (around Rs 211 crore) from Faering Capital. NOTO and Go Zero also announced their initial fundraises.

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