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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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WeVOIS raises Rs 36 Cr in Series A round from Negen Capital

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WeVOIS raises Rs 36 Cr in Series A round from Negen Capital
Medial

Waste management startup WeVOIS has raised Rs 36 crore ($4.2 million) in its Series A round led by Negen Capital and Vyom Wealth (the Polycab family office), with additional participation from Venture Catalysts, SN Capital, Warmup Ventures, Marsshot Ventures (Razorpay Foundersโ€™ Fund), and other angel investors. The proceeds will be used to scale its operations, expand partnerships, and drive innovation across India. Founded by Abhinav Vashistha, WeVOIS is setting up textile waste recycling facilities and bio-CNG plants to convert wet waste into clean energy, exemplifying innovation in sustainable waste management. Building on its proprietary technology powered by the Internet of Things (IoT) and Artificial Intelligence (AI)-driven analytics, WeVOIS is optimizing waste collection, enhancing material flows, reducing carbon emissions, and improving recycling efficiency.

Burma Burma raises another $2 Mn

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Burma Burma raises another $2 Mn
Medial

Burmese vegan restaurant chain Burma Burma has raised another round of $2 million in equity investment from several family offices including Negen Capital. Earlier in November 2022, the startup had raised $2 million in its seed round led by Negen Capital and others. Founded by Ankit Gupta and Chirag Chhajer, Burma Burma Restaurant and Tea Room makes Burmese cuisine accessible to all and the brand is now fulfilling its vision of going beyond just a restaurant and providing its patrons with a new, wholesome and dining experience that interacts on various levels. The Mumbai-based company claims to spread quickly to the other five metros, Delhi, Noida, Gurugram, Bengaluru and Kolkata and is looking at expanding its presence in the country. Burma Burma operates 13 restaurants and delivery kitchens across India, including key locations in Delhi, Gurugram, Noida, Mumbai, Bengaluru, Hyderabad, Kolkata and Ahmedabad. Over the past year, the firm claims to have experienced significant growth, doubling its footprint and annual recurring revenue (ARR) from Rs 46 crores in FY23 to over Rs 100 crores in FY24. As per the company, it has clocked an EBITDA of over 13% in July and aims to hit a monthly EBITDA of over 15% for FY25.

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.

Travel accessories brand EUME raises Rs 25 Cr in Series A

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Travel accessories brand EUME raises Rs 25 Cr in Series A
Medial

Travel accessories brand EUME has raised Rs 25 crore ($3 million) in its Series A equity round led by investor Ashish Kacholia. Existing backers including Pradeep Rathod of Cello Group and Prithviraj Kothari of Arvog Financial also participated. Earlier in June last year, the Mumbai-based startup had raised Rs 15 crore ($1.7 million) in a new round led by Ashish Kacholia. The proceeds will be used to scale physical retail, strengthen operations, invest in marketing, and support working capital needs. Founded by Naina Parekh and Pranay Parekh, EUME began as a design-forward luggage brand and has built awareness through associations with events like the Tata Mumbai Marathon and SulaFest. EUME plans to open three flagship stores within 45 days in Bengaluru (Mall of Asia), Mumbai (Oberoi Sky City), and Hyderabad (Sarath City). These new locations are part of the firmโ€™s strategy to grow its offline presence and tap into metro markets. The brand aims to position itself as a premium luggage player, combining retail expansion with product innovation. The brand is set to expand its portfolio across travel categories and focus on premium-priced offerings. It also continues to grow its presence in both B2C and B2B segments, including corporate gifting partnerships.

Bubble tea brand Boba Bhai raises Rs 30 Cr in Series A round

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Bubble tea brand Boba Bhai raises Rs 30 Cr in Series A round
Medial

Bubble tea brand Boba Bhai, a quick-service restaurant (QSR) brand focused on bubble tea and other food items, has raised Rs 30 crore (around $3.4 Mn) in its Series A round led by 8i Ventures. The round also saw participation from existing backers, including Titan Capital Winners Fund, Global Growth Capital, and DEVC among others. Earlier, the startup raised Rs 12.5 crore in its seed round led by Titan Capital and Global Growth Capital UK. The proceeds will be used to expand to new cities, scale operations, and introduce innovative menu offerings. Founded by Dhruv Kohli, Boba Bhai currently has 42 outlets in nine cities and plans to open over 150 stores by the end of the year. Approximately 70% of orders are generated through its website and platforms like Zomato, Swiggy, and ONDC.

Metalbook raises Rs 25 Cr debt from Northern Arc

EntrackrEntrackr ยท 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. Metalbookโ€™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 itโ€™s anticipating to achieve an annualized revenue run rate of $200 million by the end of FY24.

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