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Samunnati secures Rs 133 Cr from Blue Earth for climate projects
YourStory
·
1y ago
Medial
Agrifinance startup Samunnati has secured a debt tranche of Rs 133 crore ($16 million) from impact investor Blue Earth Capital. The funding will be used to support climate and sustainability projects meant to improve the lives of smallholders. Samunnati is focused on building a climate-smart compliant portfolio, with 22% of its active portfolio dedicated to climate-smart financing. This marks Blue Earth Capital's first debt investment, while Samunnati received an earlier investment of $5 million from Enabling Qapital earlier this year. The company provides financial and non-financial solutions to farmers and agri enterprises.
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Agri solutions provider Samunnati secures debt from offshore investor
VCCircle
·
1y ago
Medial
Agri finance company, Samunnati Financial Intermediation & Services, has secured debt funding from an offshore investor to expand its support to farmer collectives and agricultural enterprises in India. This comes after the company recently raised capital from impact investment firms. Samunnati aims to provide financial solutions and commerce services to help improve the livelihoods of farmers in the country.
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Exclusive: Fintech startup GrowXCD to raise Rs 200 Cr in Series B
Entrackr
·
8h ago
Medial
Exclusive: Fintech startup GrowXCD to raise Rs 200 Cr in Series B NBFC startups GrowXCD Finance is set to kick off Series B round with Rs 200 crore ($22.7 million) led by Swiss-based Blue Earth Capital with participation from Prosus and existing investors including Lok Capital and UC Impower. Earlier this year, GrowXCD raised Rs 50 crore in its pre-Series B round from Lok Capital and UC Impower. The board at GrowXCD passed a resolution to approve the issue of 1,56,92,344 Series B CCCPS at an issue price of Rs 127.61 each to raise Rs 200.25 crore, according to its regulatory filing accessed from Registrar of Companies (RoC). Blue Earth Capital will lead the round with Rs 105 crore ($12 million), followed by Prosus with Rs 69.4 crore ($7.9 million). Existing investor Lok Capital will invest Rs 21.3 crore ($2.4 million), while UC Impower will join with Rs 4.26 crore and Anshul Agarwal with Rs 25 lakh. A separate filing showed an addition of 10,00,000 options worth Rs 12.76 crore to the ESOP pool, taking its total size to about Rs 43 crore. According to Entrackr’s estimates, the NBFC’s valuation has nearly tripled to around Rs 630 crore ($71.5 million), compared to Rs 215 crore in the previous round. Founded in 2022 by Arjun Muralidharan and Sathish Kumar Vijayan, GrowXCD extends credit to two key segments: micro, small and medium enterprises (MSMEs) and low-income households. Its offerings include small property-backed mortgage loans and short-term unsecured business loans. According to startup data intelligence platform TheKredible, the Chennai-based firm had raised around $12 million prior to this round. Following the latest allotment, Blue Earth Capital will hold 16.7% stake, Prosus 11.04%, while existing investor Lok Capital remains the largest shareholder with 30.84%. For the fiscal year ended March 2025, GrowXCD’s revenue jumped over 7X to Rs 27 crore from Rs 3.73 crore in FY24. During the same period, its losses also widened to Rs 8.17 crore.
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NBFC Varthana secures Rs 159 Cr in debt funding
Entrackr
·
2m ago
Medial
Varthana, an education-focused Non-Banking Finance Company (NBFC), has secured a debt investment totaling Rs 159 crore through External Commercial Borrowing (ECB) and Non-Convertible Debentures (NCD) instruments. The combined amount is from three different global investors (including impact investors): BlueEarth Capital, Franklin Templeton Alternative Investments (Franklin Templeton AIF), and ResponsAbility. The total investment includes Rs 69 crore from BlueEarth Capital, Rs 65 crore from ResponsAbility, and Rs 25 crore from Franklin Templeton AIF. Prior to this, the Bengaluru-based company had raised $89.5 million from Omdiyar Network and others. The fresh funds will be utilized to scale the network of affordable private schools across India through innovative and enhanced access to solar and renewable energy solutions in schools, Varthana said in a press release. Co-founded in 2013 by Steve Hardgrave and Brajesh Mishra, Varthana is a non-banking financial company (NBFC) that focuses on providing financial solutions to affordable private schools and students pursuing higher education. The platform offers loans for school infrastructure development, teacher training, and student education. It aims to transform affordable education in India by partnering with schools and students. Steve Hardgrave, CEO of Varthana, said, “Varthana is pleased to partner with Blue Earth Capital, Franklin Templeton AIF, and ResponsAbility in our efforts to drive impactful change in the education sector and make quality education accessible to all across India”. Over the past decade, Varthana claims to have supported over 12,000 affordable private schools and facilitated over 19,000 school loans for school expansion and renovation. With operations across 16 states and union territories, and a network of 40 branches, it also serves schools in tier II and tier III cities, making quality education accessible to underserved communities in India.
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After fundraise, agritech Arya.ag doubles down on commerce, finance | The Arc
The Arc Web
·
1y ago
Medial
Arya.ag, an agritech startup, closed a $29 million funding round at a $325 million valuation, led by Blue Earth Capital and existing backers Quona Capital and Asia Impact. Founded in 2013, Arya.ag offers solutions like warehousing, financing, and market linkage for the agricultural sector. The company reported FY24 revenue of Rs 360 crore and a profit of Rs 17 crore, representing 36% growth from FY23. Blue Earth, an impact fund, has financed various Indian companies and is also a limited partner in private equity funds like Lok Capital and Quona.
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Developer Elan Group secures Rs 1,200-cr investment from Kotak Real Estate Fund
Money Control
·
10m ago
Medial
Delhi-based developer Elan Group has secured a Rs 1,200 crore investment from Kotak Real Estate Fund. The funds will be used for the company's expansion plans. Kotak Real Estate Fund focuses on various real estate asset classes and has raised over $3.5 billion since its launch in 2005. Elan Group's portfolio includes residential, commercial, and hospitality projects in Gurugram and New Delhi. The investment will help the company accelerate ongoing projects and pursue new developments. Previously, Elan Group received a Rs 425 crore investment from PAG in August 2022.
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Solarworld Energy Solutions secures Rs 110 Cr in pre-IPO placement round
YourStory
·
9m ago
Medial
Solarworld Energy Solutions has raised approximately Rs 110 crore in a pre-IPO placement round from investors, including ValueQuest Investment Advisors. This has reduced the fresh issue component of the company's planned IPO to Rs 440 crore. Solarworld Energy Solutions specializes in engineering, procurement, and construction services for solar power projects. The proceeds from the planned IPO will be used for investment in the company's subsidiary and for general corporate purposes.
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Samunnati completes Rs 381 Cr in Pre-Series E funding
Entrackr
·
3m ago
Medial
Samunnati, an agri enterprise focused on enabling inclusive growth across agri-value chains, has raised Rs 42.5 crore (around $5 million) in equity from Agri-Biz Capital Delaware LLC. This marks the first equity infusion for FY 2025-26 and brings the total Series E funding to Rs 381 crore. In the previous fiscal year, Samunnati raised $135 million in funding from several lenders, including USDFC, Credit Saison, Tata Capital, Poonawalla Fincorp, Hinduja Leyland Finance, Wint Wealth, Altifi, Alteria Capital, and Anicut Capital. Founded in 2014, Samunnati operates as a specialized agri value chain enabler offering customized financial and non-financial solutions. Its unique approach focuses on addressing the critical gaps in the agriculture ecosystem by linking farmers to markets, facilitating credit access, and improving farm productivity. The company works extensively with Farmer Producer Organizations (FPOs), agri SMEs, and agri-tech firms, serving over 6,000 farmer collectives and impacting millions of smallholder farmers across the country. With its presence in over 100 agri value chains and operations across more than 25 states, Samunnati’s product suite includes working capital finance, trade facilitation, supply chain solutions, capacity building, and market access support.
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Cashfree posts Rs 614 Cr revenue in FY23; losses widen
Entrackr
·
1y ago
Medial
Cashfree, an online payments processor and aggregator backed by State Bank of India, recorded significant growth in operating scale with a 75.43% increase in revenue from operations in FY23. However, its losses also increased to Rs 133 crore from Rs 3 crore in FY22, mainly due to higher employee benefits and payment processing costs. Cashfree's revenue rose to Rs 614 crore in FY23 from Rs 350 crore in FY22, primarily driven by commissions charged to merchants for using its payment infrastructure. The company recently obtained a payment aggregator license from the Reserve Bank of India, which is expected to boost its revenue further.
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Blue Tokai posts Rs 216 Cr revenue with improved EBITDA margin in FY24
Entrackr
·
7m ago
Medial
Blue Tokai posts Rs 216 Cr revenue with improved EBITDA margin in FY24 Blue Tokai Coffee Roasters has achieved over five-fold growth in the past four fiscal years. The brand's revenue grew from Rs 41 crore in FY21 to Rs 75 crore in FY22, Rs 127 crore in FY23, and Rs 216 crore in FY24. Blue Tokai’s revenue from operations grew 70% year-on-year to Rs 216 crore in FY24 from Rs 127 crore in FY23, its annual consolidated financial statements sourced from the Registrar of Companies show. Income from the sale of coffee accounted for 93% of the overall operating revenue which stood at Rs 201 crore in FY24. The rest of the collections come from the sale of bakery products. Blue Tokai claims to have 130 outlets and plans to expand to over 350 locations in the next 3 years. The company also added Rs 5 crore from interest on deposits and gains on mutual funds, which tallied its overall income to Rs 221 crore in FY24 and Rs 129 crore in FY23. Moving towards the cost breakdown, employee benefits were the largest cost center, accounting for 29.5% of the overall cost, which increased by 95% to Rs 84 crore in FY24. Blue Tokai’s procurement costs increased by 46% to Rs 83 crore in FY24. Due to the notable expansion of the outlets, the rent cost surged 94% to Rs 33 crore in FY24. Its legal, advertising, communication, travel, and other overheads increased the total expenditure by 66% to Rs 285 crore in FY24 from Rs 172 crore in FY23. The surge in employee benefits and rent costs outpaced the revenue growth which led Blue Tokai to post a 46% increase in losses which stood at Rs 63 crore in FY24, compared to Rs 43 crore in FY23. However, the company improved its EBITDA margin, narrowing it from -24.7% in FY23 to -19% in FY24. Blue Tokai spent Rs 1.32 to earn a rupee during the fiscal year. By the end of FY24, the company reported current assets of Rs 153 crore, including cash and bank balances of Rs 61 crore. Blue Tokai has raised over $80 million to date including its $30 million Series C round led by Verlinvest in August last year. According to the startup data intelligence platform TheKredible, A91 Partners was the largest external stakeholder with 22.77% followed by Verlinvest. On the competition side, Third Wave Coffee posted Rs 240 crore of revenue with a loss of Rs 110 crore in FY24. While Starbucks India posted a whopping Rs 1,218 crore in revenue in the previous fiscal. Sleepy Owl, Subko Coffee, and Seven Beans are yet to post their financial results for FY24.
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VC-backed Samunnati raises another $5 mn in pre-Series E round
VCCircle
·
3m ago
Medial
Samunnati Financial Intermediation Services, an agri-focused non-banking financial company, has raised Rs 42.5 crore ($5 million) from Elevar Equity as part of its pre-Series E funding round. This investment, the first equity infusion for the company this financial year, strengthens its capital base. Samunnati aims to enhance its inclusive agriculture ecosystem, benefiting farmers by integrating financial, market, and advisory services. Talks with venture capital firms for a Series E round are underway.
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