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

News on Medial

Related News

Exclusive: SolarSquare raises fresh funds from Zerodha's Rainmatter, Gruhas, others

EntrackrEntrackr · 1y ago
Exclusive: SolarSquare raises fresh funds from Zerodha's Rainmatter, Gruhas, others
Medial

Rooftop solar startup SolarSquare has raised $4.2 million from existing investors Zerodha’s Rainmatter Capital, Abhijeet Pai and Nikhil Kamath’s Gruhas Proptech, Lowercrabon Capital, Climate Angels and Good Capital. The board at SolarSquare has passed a special resolution to allot 7,589 Series B compulsory convertible debentures at an issue price of Rs 46,710 to raise Rs 35.44 crore, its regulatory filing shows. Lowercarbon and Good Capital invested Rs 20.74 crore and 3.32 crore while Gruhas Proptech and Rainmatter separately pumped in Rs 6.22 crore and Rs 3.98 crore, respectively. The funding will be used for the expansion, working capital requirements, and general corporate purposes, according to the filings. Every debenture issue during the round will be converted into a preference share at the next qualified funding round and the investors are considering the same to take place at a valuation of $75 million, the filings further added. As per TheKredible estimates, the company has been valued at around Rs 394 crore or $48 million post-allotment. The company is likely to raise more funds in this round and the valuation may vary after the final tranche. SolarSquare has raised over $20 million to date including its Rs 100 crore ($12 million) Series A round led by Elevation Capital and Lowercarbon in November 2022. According to the startup data intelligence platform TheKredible, Lowercrabon is the largest external stakeholder with 20.29% followed by Elevation Capital which holds 14.99%. Rainmatter and Gruhas Proptech own 3.84% and 2.50% respectively in SolarSquare. Head to TheKredible for the complete shareholding pattern. Founded by Neeraj Jain and Nikhil Nahar, SolarSquare designs, installs, and finances rooftop solar systems for homes. It also provides rooftop solar solutions for housing societies and commercial establishments. The company is yet to file its financial statements for FY24 but its revenue from operations grew 35.4% to Rs 107 crore in FY23. It posted Rs 35 crore loss in the same period. SolarSquare competes with Zunroof, Cleantech, Mysun, Oorjan, and Freyr Energy, among others. In February, the company acquired PV Diagnostics, a company with expertise in the utility scale solar power sector. Update: The story and headline have been updated to reflect Zerodha Technology as Zerodha’s Rainmatter Capital.

SustVest raises $1.7 Mn in pre-Series A

EntrackrEntrackr · 1y ago
SustVest raises $1.7 Mn in pre-Series A
Medial

Sustainable investment platform SustVest has raised $1.7 million in its pre-Series A round in mix of equity and debt led by Inflection Point Ventures and Antler along with participation from WEH ventures, Venture Catalysts, Soonicorn Ventures, FAAD Network, and others. The proceeds will be used for key business growth initiatives, including acquiring solar projects, scaling marketing with the regulated platform launch, strengthening operations, and covering legal expenses. Founded by Hardik Bhatia and Devansh Shah, SustVest specializes in sustainable investments in renewable energy. The platform claims to have achieved over Rs 43 crore in Assets Under Management (AUM) with 9.3 MW of solar installations, distributed over Rs 5.7 crore in energy income and saved over 94 lakh kg of carbon emissions. The startup claims to offer investors fixed-income opportunities with environmental impact while enabling C&I consumers to access zero-cost solar projects at up to 50% lower tariffs. Its portfolio includes renowned clients such as Lodha Group, Hitachi, Mahle Group, Subros Ltd, CISF, NSG, CRPF, and others.

Climate tech startup Ecozen raises $23 Mn in debt

EntrackrEntrackr · 11m ago
Climate tech startup Ecozen raises $23 Mn in debt
Medial

Climate-focused deeptech startup Ecozen has raised over $23 million in debt funding from responsAbility Investments AG, Northern Arc Capital Limited, Maanaveeya Development & Finance Private Limited, and others. In April last year, the Pune-based startup had raised $30 million in a mix of debt and equity from Nuveen Global Fund and others. It also secured $25 million led by Nuveen in January 2023. The proceeds will be used to drive scale in its current businesses while furthering its position in sustainable technologies. Founded by Devendra Gupta, Ecozen offers climate-smart deep tech solutions and core technology stacks including motor controls, IoT, and energy storage that leverage solar power. The company has two core products Ecotron and Ecofrost. Ecozen claims to have recorded a CAGR of over 83% in revenue growth over the past three years. The company has manufactured over 300,000 Ecotron solar pump controllers to date, with 100,000 units produced between March and December 2024 alone. As per startup data intelligence platform TheKredible, Ecozen’s revenue surged by 139% to Rs 293.24 crore in FY23 from Rs 122.57 crore in FY22. The firm also turned profitable with Rs 5.76 crore profits in FY23 as compared to a loss of Rs 37 lakh in FY22. It is yet to file its annual report for FY24. Ecozen competes with Powerflex, Inficold and Khetworks. Its diverse product portfolio includes Ecotron, Ecofrost, Eco-Freeze, Ecozen atta chakki, Ecotron Omni, and e-bike controllers, catering to a range of industries and needs.

Exclusive: EV startup Qucev raises $15 Mn in Series B

EntrackrEntrackr · 10d ago
Exclusive: EV startup Qucev raises $15 Mn in Series B
Medial

Exclusive: EV startup Qucev raises $15 Mn in Series B Qucev has raised Rs 131.25 crore ($15 million) in Series B round led by existing investor Singularity AMC with the participation of Lotus Family Trust, Volrado Venture Partners, Anchorage Capital and others. Electric commercial vehicle startup Qucev has raised Rs 131.25 crore (approximately $15 million) in Series B round led by existing investor Singularity AMC with the participation of Lotus Family Trust, Volrado Venture Partners, Anchorage Capital and others. According to its regulatory filing with the Registrar of Companies (RoC) in September 2025, Qucev’s board issued 4,467,375 Series B compulsorily convertible preference shares at an issue price of Rs 293.8 per share to raise the said amount. Singularity AMC led the tranche with an investment of Rs 25.76 crore (nearly $3 million), followed by Lotus Family Trust, which put in Rs 18.5 crore. Anchorage Capital, Volrado Venture Partners, Param Capital, and S Gupta Family Investments each invested Rs 17.98 crore. The remaining amount was contributed by other investors, including angel investors Lakshay Singhal, Anubhav Gupta and company’s founder Naresh Rawal. According to Entrackr’s analysis, the company is currently valued at around Rs 538 crore or $61 million post-money. Founded in 2022 by Naresh Rawal, Qucev is a next-generation electric commercial vehicle company in partnership with China-based EV manufacturer BYD, designs and manufactures electric tractors, trucks, buses, and three-wheelers, focusing on sustainable and cost-effective mobility. Beyond manufacturing and sales, Qucev also offers financing, charging infrastructure, and fleet solutions. According to startup data intelligence platform TheKredible, Qucev has previously raised around $4 million from Singularity AMC, Barclays and Maa Creations. For the fiscal year ended March 2025, the company did not report any product sales and generated Rs 2.08 crore from the sale of services. During the same period, it recorded a loss of Rs 9.35 crore. Qucev competes with players like Euler Motors, Altigreen, as well as established names such as Mahindra Electric, Piaggio, Kinetic Green, Tata, and others.

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

EntrackrEntrackr · 11m ago
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.

Mobility startup Pumpumpum raises Rs 2 Cr led by IPV

EntrackrEntrackr · 1y ago
Mobility startup Pumpumpum raises Rs 2 Cr led by IPV
Medial

Fintech mobility startup Pumpumpum has raised Rs 2 crore in a new round led by Inflection Point Ventures (IPV). Previously, the startup had raised $2 million in equity from LC Nueva Investment Partners, Founders Room Capital, LetsVenture and others in June 2022. The proceeds will be used for growth in operations, geographical reach, technological advancements, marketing endeavors and overall organizational development. Founded in 2018 by Tarun lawadia and Sameer Kalra, PumPumPum works in B2B2C & B2C pre-owned car leasing model. It offers a subscription-based platform that prioritizes consumer convenience, flexibility, and affordability. Through the integration of technology and data analytics, the firm delivers an easy and personalized experience for accessibility and convenience. Earlier this month, IPV invested in edtech startup MyCaptain in its Rs 14 crore (approximately $1.7 million) new round. Its recent investments include BonV Aero, AllTrak, Onedioss, among others.

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