🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

Smart Joules raises $10 Mn in Series B round

EntrackrEntrackr · 8h ago
Smart Joules raises $10 Mn in Series B round
Medial

Smart Joules raises $10 Mn in Series B round Energy services firm Smart Joules has raised $10 million in a Series B round led by Neev II Fund, managed by SBI Ventures Limited, with participation from Waaree Renewable Technologies and Spectrum Impact. The proceeds will be used to expand its energy efficiency and cooling operations across commercial and industrial facilities in India. The focus areas include manufacturing units, building automation, and district cooling projects. Funds will also be deployed to strengthen its technology, data systems, and on-ground execution teams. Founded in 2014 by Arjun P. Gupta, Sidhartha P. Gupta, and Ujjal Majumdar, Smart Joules operates on an efficiency-first model and works with enterprises to reduce energy use without upfront capital from customers. Its product suite includes JoulePays for performance-based energy efficiency contracts, JouleCool for cooling-as-a-service, and DeJoule, its AI-led building management platform. According to the company, it has so far conserved 32.1 crore kWh of energy, reduced 2.4 lakh tonnes of CO₂ emissions, and delivered Rs 266 crore in energy cost savings. Smart Joules is targeting a reduction of 29 million tonnes of carbon emissions by 2030.

1

Related News

Battery Smart raises $65 Mn in Series B round

EntrackrEntrackr · 1y ago
Battery Smart raises $65 Mn in Series B round
Medial

Battery tech startup Battery Smart has scooped up $65 million in Series B round led by LeapFrog Investments. The equity round also saw participation from new and existing investors, including MUFG Bank, Panasonic, Ecosystem Integrity Fund, Blume Ventures and British International Investment (BII). While Battery Smart did not disclose its current valuation, it was valued at around $340 million during the first tranche of Series B worth $45 million. This was a significant surge in valuation from the $210 million in the pre-Series B round in November last year. The startup will use the capital to scale its battery-swapping network across the country and drive more electric mobility adoption, Battery Smart said in a press release. Battery Smart provides advanced lithium-ion batteries for electric two and three-wheelers which can be swapped in quick time at any of its swapping stations. Its battery-as-a-service (BaaS) solution helps customers to save high upfront costs. Currently, it claims to have 1,000 battery-swapping stations across 30 cities, completing over 35 million swaps with over 45,000 active customers. The firm has a presence in Haryana, NCR, Karnataka, Rajasthan, Telangana, Uttar Pradesh, and Maharashtra. Recently, Battery Smart tied up with quick commerce platform Zepto to deploy 1,000 electric vehicles in the next financial year of FY25. The partnership will allow Zepto’s EV delivery partners to use Battery Smart’s battery-swapping network. As per startup data intelligence platform TheKredible, Battery Smart saw a seven-fold jump in its revenue to Rs 55.8 crore from Rs 7.95 crore in FY22. Meanwhile, its losses also surged 4.9X to Rs 64.51 crore from Rs 13.08 crore. As per the latest data, Tiger Global controls 23% stake in Battery Smart followed by co-founders Pulkit Khurana and Siddharth Sikka with 14.28% stake each. Blume Venture holds more than 12% stake in the company. Check TheKredible for more details.

Ultrahuman Raises $35 Mn To Boost Research In Health Monitoring

Inc42Inc42 · 1y ago
Ultrahuman Raises $35 Mn To Boost Research In Health Monitoring
Medial

Bengaluru-based fitness and healthtech platform, Ultrahuman, has raised $35 million in a mix of debt and equity funding in a Series B round. The funding round included participation from investors such as Blume Ventures, Steadview Capital, Nexus Venture Partners, Alpha Wave, and Zomato founder Deepinder Goyal. Ultrahuman plans to use the funds to expand its manufacturing capacity and conduct further research in the health tracking space. The startup offers health tracking and monitoring devices, including fitness rings, and aims to become the market leader in the smart rings space. Ultrahuman also provides a subscription-based fitness platform for better data monitoring and offers a range of workout content.

Indian energy efficiency startup Smart Joules raises $8M in debt from Denmark's IFU

IndianStartupNewsIndianStartupNews · 1y ago
Indian energy efficiency startup Smart Joules raises $8M in debt from Denmark's IFU
Medial

Indian energy efficiency startup, Smart Joules, has secured $8 million in debt funding from the Investment Fund for Developing Countries (IFU), a Danish government-owned institution. The funding will be used to expand the startup's cooling-as-a-service (CaaS) partnerships in healthcare and hospitality sectors and enter cooling-intensive industries such as data centres and pharmaceutical manufacturing. Smart Joules offers a comprehensive package of services and technology to optimize energy use in buildings, aiming for a 20% reduction in energy costs. The company has saved 23 crore kWh of energy, translating to Rs 181 crore in cost savings and 1.6 lakh tonnes of carbon emissions.

Ultrahuman in talks to raise $120 Mn

EntrackrEntrackr · 7m ago
Ultrahuman in talks to raise $120 Mn
Medial

Ultrahuman is reportedly in talks to raise $120 million in a new round led by WestBridge Capital. The development comes a year after the Bengaluru-based company’s $35 million Series B round. Moneycontrol, which reported the development first, said that some private equity funds may also participate in the round at a valuation of $550–600 million. According to TheKredible's estimates, the company was valued at $125 million after its Series B round. It has raised over $60 million to date from investors including Zomato founder and chief executive Deepinder Goyal, Nexus Ventures, Blume Ventures, and Alpha Wave. Ultrahuman is a self-quantification platform that offers a smart ring called Ring Air, a glucose monitoring wearable called M1 Live, and a blood testing product called Blood Vision, among others. The company also launched its luxury Rare smart ring collection earlier this year. The Mohit Kumar-led company recorded a significant jump in its operating scale to $74.5 million (approximately Rs 620 crore) for the calendar year 2024 (CY24). It claimed to have reported an 11% profit before tax (PBT) and an 8% EBITDA during the same period.

Download the medial app to read full posts, comements and news.