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Sauce.vc leads Rs 11 Cr round in gaming startup MetaShot

EntrackrEntrackr · 9m ago
Sauce.vc leads Rs 11 Cr round in gaming startup MetaShot
Medial

Snippets Sauce.vc leads Rs 11 Cr round in gaming startup MetaShot Console gaming startup MetaShot has secured Rs 11 crore in a combination of equity and debt financing led by Sauce.vc, along with Sharrp Ventures and Panthera Peak Capital. The Bengaluru-based company had previously raised $988K from Inflection Point Ventures and others. The proceeds will be used for team expansion, R&D, growth, and brand building, MetaShot said in a press release. Co-founded in 2021 by Prince Thomas, Ranjit Kumar Behera and Ajith Sunny, MetaShot aims to empower the gaming industry by bringing the console-gaming experience to a wider audience, using a homegrown technology with a pending patent. The company’s Smart Bat tracks a user's real-world shots, translating them into virtual shots within the MetaShot game. According to MetaShot, it started selling the MetaShot smart bat in August 2023. The product is now available across India through e-commerce websites, quick commerce platforms and offline channels. The company recently expanded into the Middle East and plans to soon launch in the USA. Recently, the company was also prominently featured in the Shark Tank India Season 4 trailer. According to market research, globally, console gaming is currently valued at $50.9 billion and is expected to reach $91.24 billion by 2033. In India, this market is valued at $2.2 billion and is projected to grow to $8.6 billion by 2028. MetaShot aspires to become a platform that offers a diverse range of games, merging the physical and virtual world. In the current financial year, the company is projected to grow 5x in revenue from the last financial year. The startup claims that it has seen over 8 lakh matches on its platform in the short span of time.

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Ice cream brand Hocco raises Rs 115 Cr at Rs 2,000 Cr valuation

EntrackrEntrackr · 1m ago
Ice cream brand Hocco raises Rs 115 Cr at Rs 2,000 Cr valuation
Medial

Ice cream brand Hocco raises Rs 115 Cr at Rs 2,000 Cr valuation Premium ice cream brand Hocco has raised Rs 115 crore (around $13 million) in a fresh funding round led by existing backer Sauce.vc, taking the company’s valuation to Rs 2,000 crore. The funding comes less than three months after the firm raised $10 million in its Series B round led by Chona Family Office and Sauce.vc. It had also raised $12 million in its Series A round from the same investors at a valuation of Rs 600 crore ($70 million) in June last year. The fresh proceeds will be used towards expanding manufacturing capacity, strengthening cold-chain and logistics, scaling new product innovation, and extending its footprint across India and select global markets. By summer 2026, Hocco plans to reach 3 lakh litres in daily production capacity, making it one of the largest and most advanced ice cream manufacturing setups in the country. Founded by the Chona family, Hocco offers products across retail stores, quick commerce platforms, and out-of-home touchpoints. Its product line includes various flavours, formats, and packs designed for everyday use and modern retail channels. Hocco has built traction among consumers across retail, quick commerce, and travel-linked outlets through its ingredients, flavours, and distribution models. Hocco recently said it closed FY25 with revenue of Rs 220 crore. However, it did not comment on its loss numbers. According to startup data intelligence platform TheKredible, the company reported revenue of Rs 32.38 crore 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.

Innovist raises Rs 136 Cr led by ICICI Venture; Accel exits

EntrackrEntrackr · 6m ago
Innovist raises Rs 136 Cr led by ICICI Venture; Accel exits
Medial

Innovist, the parent company of Bare Anatomy, has raised Rs 136 crore (approximately $16 million) in a Series B funding round led by ICICI Venture. The round saw participation from Mirabilis Investment Trust, Niveshaay Investment, and existing backer Sauce. The funding round includes both primary and secondary components and will be directed toward product development, business growth, and team expansion, the company said in a media release. In the round, the company provided exit to Accel, which came in via their seed program (atoms). Rohit Chawla, founder and CEO, said that Innovist is one of the fastest-growing BPC (beauty and personal care) firms in the country and aims to cross Rs 300 crore in revenue by FY25. While the company has not yet filed its annual statements for FY24, it reported operational revenue of Rs 36.53 crore in FY23, along with a loss of Rs 16.87 crore. Innovist, previously known as Onesto Labs, was founded in 2018 by Chawla, Sifat Khurana, and Vimal Bhola. The company provides personal care products and currently manages three brands: Bare Anatomy, Chemist at Play, and Sunscoop. To date, Innovist has raised over $26 million, including a $7 million Series A round led by the Amazon Smbhav Venture Fund. According to startup data platform TheKredible, prior to this round, Sauce.VC was the largest external stakeholder, followed by 72 Ventures, Accel India, and the Amazon Smbhav Fund. It competes with D2C beauty brands like Minimalist, Mamaearth, Wow Skin Science, and Sugar Cosmetics.

Sauce.VC floats third VC fund with target corpus of Rs 250 Cr

EntrackrEntrackr · 1y ago
Sauce.VC floats third VC fund with target corpus of Rs 250 Cr
Medial

Consumer-focused early-stage venture capital firm Sauce VC has launched its third fund with a target to raise Rs 250 crore, according to an ET report. Sauce.VC had received clearance from the Securities and Exchange Board of India (Sebi) a few weeks ago for the new fund. The New Delhi-based firm invests in new-age consumer brands and platforms at a pre-revenue or idea stage. To date, it has invested in 21 companies from its two separate funds that were launched in 2019 and 2021. Sauce.VC launched its first fund in 2019 with a target corpus of Rs 60 crore. It launched its second vehicle in 2021 with a fund size of Rs 158 crore. Its latest Sauce Continuity Fund was closed with a corpus of Rs 263 crore. It has already invested in XYXX, The Whole Truth Foods, Mokobara, Innovist, and Supertails from the continuity fund, and has plans to add oral care brand Perfora, ice cream brand Hocco and energy drink Rockit to the list of top-ups.

Dashcam startup Cautio raises Rs 11 Cr in seed round

EntrackrEntrackr · 6m ago
Dashcam startup Cautio raises Rs 11 Cr in seed round
Medial

Dashcam startup Cautio raises Rs 11 Cr in seed round Video telematics startup Cautio has raised Rs 11 crore as part of its ongoing seed round. The round saw participation from 9Unicorns, Venture Catalysts, Antler India, Infinyte Club, Ministry of Electronics and IT (MeitY) through PIEDS-BITS Pilani, and CARS24 Founders - Gajendra Jangid and Vikram Chopra. The proceeds will be utilized to expand its technology across India, strengthen AI capabilities, and work closely with fleets to build a culture of proactive safety, Cautio said in a press release. Co-founded in 2023 by Ankit Acharya and Pranjal Nadhani, Cautio is a video telematics company that aims to make Indian roads safer through AI-powered dashcams. By delivering real-time insights and 24/7 monitoring, the platform helps fleets prevent risks, ensure compliance, and drive with confidence. With its affordable and intelligent fleet safety solutions, it is transforming mobility by empowering fleet operators and drivers to enhance safety, minimize risks, and build a smarter, more secure future on the road. Cautio says that it is trusted by mobility and logistics providers like Shoffr, Euro Cars, Namma Yatri, IITs, and Cityflo among others. The company operates in over 35 cities across India, and has also delivered over 50 crore location data points through its APIs.

Gameskraft crosses Rs 4,000 Cr revenue in FY25; PAT nears Rs 1,000 Cr

EntrackrEntrackr · 1m ago
Gameskraft crosses Rs 4,000 Cr revenue in FY25; PAT nears Rs 1,000 Cr
Medial

Gameskraft crosses Rs 4,000 Cr revenue in FY25; PAT nears Rs 1,000 Cr Gameskraft’s FY25 numbers reflect strong performance before the RMG ban. The firm reported double-digit revenue growth and maintained profitability during the fiscal year. The Indian government’s recent ban on real-money gaming formats has disrupted the sector overnight, but Gameskraft’s FY25 numbers reflect strong performance before the clampdown. The firm reported double-digit revenue growth and maintained profitability during the fiscal year. Gameskraft’s revenue from operations grew 12% to Rs 3,896 crore in FY25 from Rs 3,475 crore in FY24, according to its consolidated financial statements sourced from the Registrar of Companies (RoC). Gameskraft operated popular gaming apps such as Rummy Culture, Playship, Pocket 52, RummyPrime, Ludo Culture, and Rummy Time. Its revenue (gross gaming revenue) came from platform fee or commission charged as a percentage of the buy-in fees users invest in games, which contributed Rs 3,882 crore (99.6% of operating revenue), registering a 12.2% growth. Its real estate business added Rs 11 crore, while other income sources contributed Rs 3 crore in FY25. The Bengaluru-based company made an additional Rs 113 crore from non-operating sources which pushed its total revenue to Rs 4,009 crore in FY25. On the cost side, promotional spending emerged as the single largest expense and accounted for 75% of total burn. To the tune of scale, this cost surged 58% to Rs 2,072 crore in FY25 from Rs 1,315 crore in FY24. Employee benefits, on the other hand, saw a decline of 11% to Rs 410 crore, while legal and professional fees fell 22.8% to Rs 112 crore in FY25. Overall, the company’s total expenses shot up 24% to Rs 2,766 crore in FY25 as against Rs 2,232 crore in FY24. See TheKredible for the detailed cost breakdown during the last fiscal year. Despite the jump in ad spend, Gameskraft managed to sustain profitability on the back of its strong topline and controlled costs in other areas. Its net profit stood at Rs 976 crore in FY25, slightly higher than the Rs 947 crore posted in FY24. It's worth noting that we have excluded exceptional items worth Rs 270.5 crore in the calculation of net profit of the company. Gameskraft's ROCE and EBITDA margin stood at 58.40% and 31.63%, respectively. On a unit basis, Gameskraft spent Rs 0.71 to earn a rupee of operating revenue in FY25. The company recorded current assets worth Rs 2,232 crore in FY25 which includes Rs 253 crore in cash and bank balances and Rs 1,319 crore invested in mutual funds. While Gameskraft’s FY25 numbers were unaffected, the Indian government’s new gaming law effective August 2025 has forced the company to halt its real-money operations, including shutting down “Add Cash” features and discontinuing its flagship rummy platform RummyCulture, alongside pausing its poker venture Pocket52 earlier in the year. The move, mandated by the Promotion and Regulation of Online Gaming Act, has also led Gameskraft to publicly state it will not pursue a legal challenge, instead opting for full compliance. Given that real-money gaming contributed nearly all of Gameskraft’s FY25 revenue, the ban is expected to significantly impact its business model, revenue streams, and growth trajectory going forward.

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