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Scapia raises $40 Mn in Series B led by Peak XV

EntrackrEntrackr · 10m ago
Scapia raises $40 Mn in Series B led by Peak XV
Medial

Scapia raises $40 Mn in Series B led by Peak XV Travel fintech company Scapia has raised $40 million in its Series B round led by Peak XV Partners, with participation from existing investors, Elevation Capital, Z47, and 3State Ventures. The funding will enable Scapia to strengthen its team, enhance its product offerings, harness the power of AI, and accelerate its ambitious growth plans, Scapia said in a press release. According to the company’s regulatory filings, it has secured Rs 289 crore ($34 million) so far, with the remaining funds expected soon. In this round, Peak XV Partners took the lead, investing Rs 218 crore ($25.6 million), followed by Elevation Capital with Rs 62.28 crore ($7.3 million) and 3State Ventures contributing Rs 8.65 crore ($1.02 million). According to a separate resolution, the Bengaluru-based company also expanded its ESOP pool by 3,460 ESOP options. The newly added ESOP will be valued at Rs 22 crore, while the total pool now stands at Rs 132 crore (approximately $15.5 million). Entrackr estimates that the company’s post-money valuation stands at Rs 1,645 crore or $193.5 million. The valuation may vary after completion of the round. Founded by Anil Goteti, Scapia operates as a fintech-travel platform, offering a lifetime-free credit card with travel rewards. It generates revenue through interchange fees, interest on EMIs, and partner commissions from travel bookings. Scapia’s co-branded card with Federal Bank offers great value with no joining or annual fees, zero forex markup, and free unlimited domestic lounge access and airport perks based on monthly spending. Cardholders get 10% rewards on all purchases and 20% rewards on travel bookings made through Scapia. Scapia has raised over $70 million to date, including its $23 million Series A round led by Elevation Capital and 3State Ventures in November 2023. According to startup data intelligence platform TheKredible, Peak XV Partners became the largest external shareholder with a 13.74% stake, followed by Matrix Partners at 13.68%. Its FY24 appeared to be the first operational year, recording a revenue of Rs 17 crore while incurring a loss of Rs 88 crore during the same period. The company competes with the likes of One Card, which posted Rs 1,425 crore revenue, and Zolve, which stood at a revenue of Rs 67.8 crore in the fiscal year ended March 2024.

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Lighthouse Canton raises $40 Mn led by Peak XV Partners

EntrackrEntrackr · 3m ago
Lighthouse Canton raises $40 Mn led by Peak XV Partners
Medial

Lighthouse Canton raises $40 Mn led by Peak XV Partners Lighthouse Canton has raised $40 million in a strategic funding round led by Peak XV Partners, with participation from Nextinfinity, the investment holding company of Shyam Maheshwari (Founding Partner, SSG Capital / Ares SSG). Qatar Insurance Company (QIC), an early investor, also participated. This is Lighthouse Canton’s first external fundraise and will be used to strengthen technology, expand product capabilities, add senior leadership, and scale operations across new regions. Founded in 2014, Lighthouse Canton operates as a global investment institution with wealth management and asset management businesses. The firm manages over $5 billion in assets across Singapore, India, the UAE, and the UK. Its wealth management division serves high-net-worth individuals, family offices, entrepreneurs, and corporates, while the asset management business offers strategies across hedge funds, private equity, real estate, private credit, venture capital, public markets, and macro. The firm employs more than 200 professionals across Singapore, Dubai, India, and London and serves private clients and institutions with cross-border investment and advisory services.

D2C luggage brand uppercase raises $9 Mn led by Accel

EntrackrEntrackr · 1y ago
D2C luggage brand uppercase raises $9 Mn led by Accel
Medial

D2C luggage brand Uppercase (Acefour Accessories) has raised $9 million in a Series B round led by venture capital firm Accel. As per uppercase, it has raised the new round at a post money valuation of $60 million. In 2022, the company had raised $7 million in apPre-Series A funding round led by Sixth Sense Ventures, with participation from Volrado Venture Partners. The funding will support business expansion, aiming to increase its customer base across India, uppercase said in a press release. Founded by Sudip Ghose, uppercase sells travel gear online and through 1,800 multi-brand stores across India. Its products are priced in the range of Rs 3,500-5,000. The Mumbai-based company aims to achieve its Rs 500 crore goal by adding 250 exclusive retail stores over the next three years. Earlier this year, luggage brand Mokobara raised $12 million in a Series B funding round led by Peak XV Partners. Besides Mokobara, uppercase also competes with Assembly, Nasher Miles and EUME. While Nasher miles raised $4 million in July, EUME bagged $1.7 million in June. As per startup data intelligence platform TheKredible, uppercase reported an operating revenue of Rs 10.65 crore in FY23 with Rs 21 crore loss. The company is targeting to more than double its revenue to Rs 150 crore by FY25, up from Rs 70 crore in FY24.

Stable Money raises $25 Mn led by Peak XV at $175 Mn valuation

EntrackrEntrackr · 3d ago
Stable Money raises $25 Mn led by Peak XV at $175 Mn valuation
Medial

Stable Money raises $25 Mn led by Peak XV at $175 Mn valuation Wealthtech startup Stable Money has raised $25 million at a valuation of $175 million in a pre-Series C funding round led by Peak XV Partners, with participation from Z47 (formerly Matrix Partners), RTP Global, and Fundamentum Partnership. The Bengaluru-based startup had previously mopped up $40 million from Fundamentum Partnership Fund, Matrix Partners, RTP Global, Lightspeed India, and others. The proceeds will be used to strengthen its core platform, expand access to complementary savings products, and scale its team across key functions. Stable Money, co-founded in 2022 by Saurabh Jain and Harish Reddy, is a fixed income investment platform that enables individuals to earn stable and secure returns through fixed deposits, bonds via Stable Bonds, and other low-risk instruments. It provides a digital platform where users can compare, invest in, and manage fixed income products. The company plans to deepen direct partnerships with banks and NBFCs, both established and emerging, to widen customer choice, enable smarter rate discovery, and drive innovation. It is also strengthening its on-ground presence in key cities across India to build deeper, face-to-face relationships with customers. Stable Money claims that over 40 lakh users have chosen its platform to invest more than Rs 5,000 crore across fixed deposits, Stable Bonds, and other secure instruments. For the fiscal year ending March 2025, Stable Money reported operating revenue of Rs 104 crore, compared to just Rs 1.3 crore in FY24, while its losses increased to Rs 44.8 crore from Rs 12.8 crore during the same period. As per data compiled by Entrackr, Indian wealthtech startups raised over $634 million across 51 deals involving 39 startups during 2024 and 2025.

Sweet Karam Coffee raises $8 Mn led by Peak XV

EntrackrEntrackr · 10m ago
Sweet Karam Coffee raises $8 Mn led by Peak XV
Medial

Sweet Karam Coffee Raises $8 Mn Led by Peak XV Chennai-based South Indian food brand Sweet Karam Coffee (SKC) has raised $8 million in its Series A round led by Peak XV Partners, with existing investor Fireside Ventures also increasing its stake. The funding comes almost two years after Sweet Karam Coffee raised $1.5 million from Fireside Ventures. The proceeds will be used to expand its distribution, launch new products, and improve its supply chain with tech. Founded in 2015, SKC is known for its authentic sweets, snacks, and filter coffee, which is made without palm oil, preservatives, or maida. It also sells condiments and ghee. The startup sells its products via its website, e-commerce marketplaces, and quick commerce platforms, serving customers across 32 countries. SKC claims to have grown 4X in revenue over the past 12 months and is projected to grow another 2.5X in the next 12 months. SKC announced the appointment of Nandhitha Indermohan (ex-Unilever) as Chief Operating Officer to boost execution.

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