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Sadhav Offshore raises Rs 25 Cr in equity round led by Negen Capital

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Sadhav Offshore raises Rs 25 Cr in equity round led by Negen Capital
Medial

Sadhav Offshore, a maritime services company operating in India, has raised Rs 25 crore in an equity round led by the Negen Undiscovered Value Fund. The round also saw participation from family offices and high-net-worth individuals (HNIs). The proceeds will be used to support capital expenditure focused on launching a floating dry dock facility. Sadhav Offshore currently services a wide range of vessels, including over 70% of the Indian Coast Guardโ€™s FPV fleet on the eastern seaboard. The firm operates a repair facility at Paradip Port and has past experience servicing international clients such as Svitzer-Maersk. It also maintains technical partnerships with firms like Kongsberg Maritime for propulsion system servicing. This expansion aligns with national maritime development goals under Sagarmala and Maritime India Vision 2030. The planned dry dock will help fill a critical gap in Indiaโ€™s ship repair infrastructure, which currently lacks enough domestic facilities and often forces ships to go abroad for maintenance. A dry dock is a special structure that lets ships be lifted out of the water so that work can be done on parts that are normally underwater, such as cleaning, repairs, or inspections. By offering reliable, local repair services for both commercial and defence vessels, the new facility is expected to reduce delays and improve operational efficiency.

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Good Flippinโ€™ Burgers raises capital from Tanglin Venture

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Good Flippinโ€™ Burgers raises capital from Tanglin Venture
Medial

Quick service burger chain Good Flippinโ€™ Burgers has raised Rs 30 crore (approximately $3.6 million) in an extended Series A round from its existing investor Tanglin Venture Partners. The board at Good Flippinโ€™ Burgers has passed a special resolution to issue 34,366 Series A1 cumulative compulsory convertible preference shares at an issue price of Rs 8739.56 each to raise Rs 30 crore, its regulatory filing accessed from the RoC shows. With this, the company has secured $8.6 million to date including a $4 million Series A round led by Tanglin Venture Partners in June 2023. According to TheKredible estimate, the company has been valued at around Rs 400 crore or $48 million (post-money). This marked a 3X growth in the valuation when compared to its last funding. Founded by Viren Dโ€™silva, Sijo Mathew, and Sid Marchant, Good Flippinโ€™ Burgers currently has 25 outlets across Mumbai, Delhi, Gurgaon, and Noida. The outlets offer delivery services directly through their website and online aggregators such as Zomato and Swiggy. Five-year-old Good Flippinโ€™ Burgers reported strong growth in its scale during FY23 as its operating revenue spiked 3.58X to Rs 32.53. When it comes to the bottom line, the company posted Rs 3.91 crore loss in the fiscal year ending March 2023. Itโ€™s yet to disclose its FY24 numbers. The Mumbai-based startup competes with Burger Singh, Whataburger, and Biggies Burger. In September 2022, Biggies Burger secured Rs 5.5 crore in seed round led by Indian Angel Network. Burger Singh also bagged Rs 30 crore in a Series A round led by Negen Capital in July 2022.

Gully Labs raises Rs 8.7 Cr in seed round led by Zeropearl VC

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Gully Labs raises Rs 8.7 Cr in seed round led by Zeropearl VC
Medial

Gully Labs raises Rs 8.7 Cr in seed round led by Zeropearl VC Sneaker brand Gully Labs has raised Rs 8.7 crore in a seed funding round โ€” comprising Rs 7.6 crore in equity and Rs 1.1 crore in venture debt. The equity round was led by Zeropearl VC along with participation from Untitled Ventures, Atrium Ventures, and other prominent angel investors including Bounce co-founder & CEO Vivekananda Hallekere, Suhasini Sampath, Nishchay AG, Renee Cosmetics founder Ashutosh Valani, Anurag Ramadasan, and Rahul Seth, while Stride Ventures led the debt investment. Prior to this, the company had secured Rs 1.1 crore in equity during its pre-seed round in 2024. The fresh capital will be deployed towards diversifying the product mix, expanding sales channels, and opening physical retail stores, Gully Labs said in a press release. Co-founded in 2023 by Arjun Singh and Animesh Mishra, Gully Labs crafts handmade sneakers, blending premium materials with culturally rich design stories โ€” from Phulkari-embroidered trainers to Onam-inspired silhouettes. Gully Labs sells its products through its website and in select partner stores across Indian metros. The company plans to build a larger production facility, broaden its product line across diverse sneaker styles, and deepen its reach across India and global markets. It also plans to launch exclusive retail outlets as part of its omni-channel strategy.

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