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Rusk Media to raise $8.5 Mn in Series B

EntrackrEntrackr · 7m ago
Rusk Media to raise $8.5 Mn in Series B
Medial

Rusk Media, a digital entertainment company, is raising Rs 74 crore (approximately $8.5 million) in its Series B round led by Woori Venture Partners, with the participation of New Emerging Technologies Fund, LC Nueva Investment Partners, and other investors. The board at Rusk Media has passed a special resolution to issue 11,663 Series B compulsory convertible preference shares at an issue price of Rs 63,493 each to raise the aforementioned sum, its regulatory filing sourced from the Registrar of Companies (RoC) shows. Woori Venture Partners will lead the round with an investment of Rs 26 crore, while New Emerging Technologies Fund, LC Nueva Investment Partners, and Yashaa Global Capital will contribute Rs 16.5 crore, Rs 15 crore, and Rs 10 crore, respectively. The remaining amount will be collectively invested by Info Edge, LetsVenture, and Nodwin Gaming. As per filings, the funds would be utilized for growth and working capital needs in line with the company's business plan. A separate filing reveals that Rusk Media's board has approved a resolution to expand its ESOP plan with 2,828 employee stock options worth Rs 18 crore and its MSOP plan with 5,656 management stock options valued at Rs 35.9 crore. The company has raised around $20 million to date, including its $9.5 million Series A led by DAOL Investment and Audacity Ventures. According to Entrackr’s estimates, the company will be valued at around Rs 468 crore or $54 million post-allotment. The New Delhi-based company is known through its content and IPs on social channels Alright! and Playground with over 500 million monthly views, and their shows on OTT platforms. Rusk Media has recorded a 40.6% yearly growth in its revenue to Rs 56.8 crore in the previous fiscal year (FY24). At the same time, the firm’s losses were reduced by 56% to Rs 28.7 crore.

Exclusive: Eggoz to raise Rs 125 Cr led by Gaja Capital

EntrackrEntrackr · 3m ago
Exclusive: Eggoz to raise Rs 125 Cr led by Gaja Capital
Medial

Eggoz, a consumer brand for eggs, is raising Rs 125 crore, approximately ($14.7 million) in its Series C round led by Gaja Capital with the participation of existing investors IvyCap Ventures and Redbright Partners. The board at Eggoz has passed a special resolution to issue 1 equity and 15,334 Series C preference shares at an issue price of Rs 81,511 each to raise Rs 125 crore or $14.7 million, its regulatory filing accessed from the Registrar of Companies (RoC) shows. Gaja Capital will spearhead the round with Rs 100 crore, while IvyCap Ventures and Redbright Partners will inject Rs 20.95 crore and Rs 4.05 crore, respectively. According to Entrackr’s estimates, the company will be valued at around Rs 480-500 crore or $55-58 million post-money. This marks a 60% increase in the valuation when compared to its last round. Founded in 2017 in Bihar by Abhishek Negi, Aditya Singh, and Uttam Kumar, Eggoz operates an asset-light, farmer-led model that ensures fresh eggs reach retailers within 24 hours. The brand has scaled its presence across Delhi-NCR, Bengaluru, Kolkata, Jaipur, Lucknow, and several non-metro cities. In a bid to diversify, Eggoz has also forayed into ready-to-cook offerings such as momos, burger patties, nuggets, and more. Eggoz has raised over $27 million in total funding so far. This includes an $8.8 million Series B round led by IvyCap Ventures. Before this, the company had secured $3.5 million in its Series A round and Rs 3.7 crore during its seed stage. The company has yet to file its FY25 numbers. Eggoz has recorded a 33.6% year-on-year increase in its revenue to Rs 73.1 crore in FY24, while the losses of the firm reduced by 24% to Rs 25 crore in the same period.

Exclusive: Get My Parking to raise fresh funds at 90% valuation surge

EntrackrEntrackr · 3m ago
Exclusive: Get My Parking to raise fresh funds at 90% valuation surge
Medial

Exclusive: Get My Parking to raise fresh funds at 90% valuation surge AI-based parking management system Get My Parking is all set to raise Rs 21.6 crore (approximately $2.5 million) in an extended Series A round led by existing investor IvyCap Ventures with participation from Legacy Assets LLP and others. This funding comes four years after Get My Parking raised $6 million in its Series A round in May 2021, led by IvyCap Ventures. The company’s board passed a resolution to issue 3,923 Series A2 compulsory convertible preference shares at an issue price of Rs 55,088 apiece to raise Rs 21.6 crore, according to its filing with the Registrar of Companies (RoC). Existing investor IvyCap will be leading the round with Rs 13 crore investment followed by Legacy Assets’ Rs 3 crore. The rest of the amount will be contributed by Manish Kohli, The Sarvasva Trust, and 7 other individual investors. The funds raised will be used to meet general business needs, including working capital requirements and expansion plans, the filing added. According to Entrackr’s estimates, Get My Parking’s valuation is expected to rise by nearly 90% to Rs 335 crore (approximately $39 million) post-allotment, up from Rs 177 crore during its previous $6 million funding round. Founded in 2015 by Chirag Jain and Rasik Pansare, Get My Parking offers smart parking solutions using IoT technology, enabling operators to digitize their parking spaces and manage them efficiently with features like automated entry, digital payments, and live availability updates. According to startup data intelligence platform TheKredible, the Bengaluru-based company has raised over $10 million since its inception. IvyCap Ventures is the largest external stakeholder with a 15.87% stake, followed by Europe’s leading parking operator, APCOA, which holds a 12% stake. Get My Parking reported over 50% growth in operating revenue to Rs 29.4 crore in the fiscal year ending March 2024, while reducing its losses by 57% to Rs 6.5 crore during the same period. Get My Parking competes with the Peak XV-backed Park+ which posted Rs 131 crore revenue in FY24. The company also competes with Parky, Park Smart, among others.

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