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

News on Medial

Related News

Exclusive: Electric mobility platform Kazam to raise $6 Mn in Series B

EntrackrEntrackr · 1m ago
Exclusive: Electric mobility platform Kazam to raise $6 Mn in Series B
Medial

Exclusive: Electric mobility platform Kazam to raise $6 Mn in Series B Electric mobility startup Kazam is raising Rs 51 crore (around $6 million) in its Series B round, led by Vertex Ventures, with participation from Avaana Capital and Chakra Growth Capital. The board at Kazam has passed a special resolution to issue 36,410 Series B compulsory convertible preference shares at an issue price of $165.06 each to raise the aforementioned sum, its regulatory filing sourced from the Registrar of Companies (RoC) shows. IFC VVSEA Co-Invest LP and Vertex Ventures SEA Fund, representing Vertex Ventures, will jointly invest $4.9 million, while Avaana Capital and Chakra Growth Capital will contribute $1.01 million and $0.9 million, respectively. According to Entrackr’s estimates, the company will be valued at around $51 million post-allotment. Kazam plans to deploy the funds towards business growth, expansion initiatives, and general corporate purposes. After this funding round, Vertex Ventures and IFC VVSEA Co-Invest together will hold a 22.89% stake, while Avaana Capital and Chakra Growth Capital will own 17.02% and 1.51% stakes, respectively. Founded in 2020 by Akshay Shekhar and Vaibhav Tyagi, Kazam is an EV charging software platform that develops smart and affordable charging networks. Its technology supports a wide variety of vehicles, including two-wheelers, commercial electric vehicles (CEVs), three-wheelers, and city buses. It claims to power over 25,000 charging points. The Bengaluru-based firm works with the likes of BigBasket, Zypp, Mahindra, Bajaj, Ather, TVS, Hero MotoCorp, and Ultraviolette. The company is yet to file its annual results for FY25. According to the startup data intelligence platform TheKredible, its revenue from operations surged 3.3X to Rs 12.19 crore during the fiscal year ended in March 2024 while its losses stood at Rs 10.2 crore in the same fiscal year.

SpotDraft raises $54 Mn in Series B round

EntrackrEntrackr · 5m ago
SpotDraft raises $54 Mn in Series B round
Medial

SpotDraft, a contract lifecycle management (CLM) platform, has raised $54 million in its Series B funding round led by Vertex Growth Singapore and Trident Partners. Xeed VC, Arkam Ventures, Prosus Ventures, and Premji Invest also participated in the firm’s new funding. With this, SpotDraft plans to invest in AI-driven products and expand its market presence. Previously, it raised $26 million in its Series A round in March 2023. SpotDraft provides contract management solutions for in-house legal teams which includes AI-assisted redlining, e-signatures, contract repositories, and third-party paper management. “We believe 2025 will be an inflection point for team SpotDraft,” said Shashank Bijapur, co-founder and chief executive officer. “Apart from market expansion and talent growth, we’re strongly committed to deepening the use of AI in the product to help legal teams unlock efficiencies and drive innovation.” With over 250 employees across its offices in Bengaluru and New York, SpotDraft is looking to further acquire key leadership talent in alignment with its growth strategy.

Mindgrove raises $8 Mn in Series A funding round

EntrackrEntrackr · 6m ago
Mindgrove raises $8 Mn in Series A funding round
Medial

Mindgrove Technologies, a fabless semiconductor design startup, has raised $8 million in a Series A funding round co-led by Rocketship.vc and Speciale Invest. The round also witnessed participation from Mela Ventures and existing investors Peak XV Partners, Nishchay Goel, Whiteboard Capital, and Anshul Goel. The Chennai-based startup had previously secured $2.325 million in seed funding from Peak XV Partners (formerly Sequoia Capital India & SEA), Speciale Invest, and Whiteboard Capital back in early 2023. The proceeds will be utilized to expand its workforce, enhance its in-house engineering capabilities, and accelerate production and sales of the first chip, Mindgrove said in a press release. Co-founded in 2021 by Sharan Jagathrakshakan and T.R. Shashwath, Mindgrove is incubated by IITM Pravartak Technologies Foundation and IIT Madras Incubation Cell. The company designs high-performance SoCs with advanced features at competitive prices for the Indian and global markets. According to Mindgrove, it has launched “Secure IoT,” a commercial-grade high-performance microcontroller SoC (System-on-Chip) taped out at 28nm. Designed for electronic devices that are transforming into “smart” connected devices like watches, meters, locks, and access control units, as well as for powering devices like printers and PoS machines. The chip is on schedule to reach the market by mid-2025. Mindgrove has received approval under the Government of India's Semiconductor Design Linked Incentive (DLI) scheme, amounting to Rs 15 crore, for developing a new chip, “Vision SoC,” meant for high-performance edge computing and vision processing applications — CCTV cameras, dashcams, video recorders, ADAS, smart TVs, and more.

Eloelo kicks off Series B round with $13 Mn

EntrackrEntrackr · 3m ago
Eloelo kicks off Series B round with $13 Mn
Medial

Social gaming and live streaming platform Eloelo is raising Rs 114 crore (approximately $13 million) in its Series B round led by Play Ventures Investments with participation from Gameskarft Technologies, Kalaari Capital, and WestBridge Capital. The board has passed a resolution to issue 1,696 Series B compulsory convertible preferred shares at Rs 6,73,997 each to raise the funds, according to a regulatory filing. Play Ventures is investing Rs 34.7 crore, Gameskraft Technologies Rs 21.7 crore, WestBridge Capital Rs 8.7 crore, and Kalaari Capital Rs 13 crore. Additional investments are being made by Countryside Ventures, Rocket Capital, MIXI Global, and Veenita and Vinay Mittal. Eloelo has raised over $50 million to date, including a $22 million pre-series B round co-led by Courtside Ventures and Griffin Gaming Partners. Post-transaction, Play Ventures will hold 3.38%, Countryside Ventures 4.46%, Gameskraft 2.12%, and Kalaari Capital 6.35%. Founded by Saurabh Pandey and Akshay Dubey, Eloelo offers live games and entertainment with native activities like tambola and antakshari. It features over 50 live games and more than 1,000 daily live streams. The social gaming and live streaming space in India is evolving with platforms like Loco, Rooter, and Turnip in gaming, while Chingari, ShareChat, and Bolo Live expand into live and casual gaming.

Decoding SpotDraft’s Series B funding round, latest valuation and captable

EntrackrEntrackr · 3m ago
Decoding SpotDraft’s Series B funding round, latest valuation and captable
Medial

SpotDraft, a contract lifecycle management (CLM) platform, has recently raised $54 million in its Series B round led by Vertex Growth Singapore and Trident Partners with the participation of Prosus, Premji Invest, Arkam Ventures, Volrado Venture Partners, and others. SpotDraft secured $26 million in its Series A funding round in March 2023. Entrackr has gone through its regulatory filings to decode the round breakup, captable, and current valuation. The board at SpotDraft allotted 1,39,025 Series B compulsory convertible preference shares at an issue price of Rs 33,938 each to raise Rs 472 crore ($54-55 million). The Series B round commenced in December 2024 with an initial investment of Rs 50.5 crore from Xeed Ventures through 021 Capital, Premji Invest, and Arkam Ventures through Unitary Fund. The remaining funds were secured in March 2025. Vertex Growth led the funding round with an investment of Rs 126 crore ($14.8 million), followed by Trident Partners and Prosus, which contributed Rs 109.6 crore ($12.9 million) and Rs 73.2 crore ($8.6 million), respectively. Other notable investors included Premji Invest (Rs 37.6 crore), Arkam Ventures (Rs 34 crore), and Xeed Ventures (Rs 33.6 crore), Volrado Venture Partners (Rs 25 crore). As per Fintrackr’s estimates, the company’s post-money valuation has now reached $190-$200 million. According to startup data intelligence platform TheKredible, the Bengaluru-based company has raised nearly $98.5 million to date. Following the allotment of the Series B round, Xeed Ventures emerged as the largest shareholder with a 15.8% stake in the company. It is followed by Arkam Ventures (10.27%), Premji Invest (10.24%). Co-founder Shashank Bijapur holds a 9.08% stake in the company. Founded in 2017, SpotDraft is an AI-powered contract lifecycle management (CLM) platform designed for in-house legal teams. It streamlines every stage of the contracting process, offering features such as AI-assisted redlining, e-signatures, an intelligent contract repository, third-party document handling, clickwrap agreements, and more. Spotdraft competes with other legaltech startups like Legistify, Leegality, Sirion, Vakilsearch, and others. SpotDraft’s revenue from operations grew threefold in FY24 to Rs 60 crore from Rs 20 crore in FY23, while its losses remained flat at Rs 68 crore during the same period.

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