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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.

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.

BeepKart bags $6.5 Mn in extended Series A round

EntrackrEntrackr · 1y ago
BeepKart bags $6.5 Mn in extended Series A round
Medial

BeepKart, a full stack retailer of used two-wheelers, has extended its Series A round by securing Rs 54 crore (approximately $6.5 million) from its existing investors including Chiratae Ventures, Stellaris Venture Partners, and Vertex Ventures. The board at BeeKart has passed a special resolution to issue 45,203 Series A2 CCPS at an issue price of Rs 11,935 each to raise Rs 54 crore, its regulatory filing accessed through Registrar of Companies shows. BeepKart has also received a part payment of Rs 33.2 crore from Chiratae and Stellaris Venture partners. The remaining amount is expected to follow shortly. BeepKart last raised $9 million in its Series A round led by Vertex Ventures in October 2022. Entrackr exclusively reported the development. According to the data intelligence platform TheKredible, the company has secured around $18.5 million to date and is valued at around Rs 362 crore $44 million (post-allotment of new shares) Founded by Hemir Doshi and Abhishek Saraf, BeepKart sells used two-wheeler brands such as Honda, TVS, Suzuki, Bajaj, Yamaha, Hero, KTM, among others. The company differentiates itself from online classifieds as it also provides reliable spare parts, services, accessories, loans, and insurance for used bikes through network partners. The company currently operates in Bengaluru and Chennai and plans to expand its operations to other cities. BeepKart was a pre-revenue stage firm till FY22 but it posted decent growth during FY23. The company reported Rs 21.86 crore revenue in the fiscal year ending March 2023 while its losses stood at Rs 27.88 crore in the same period. It directly competes with CredR, OLX, and Bike Bazaar.

Exclusive: Pilgrim raises $9 Mn with 3X valuation surge

EntrackrEntrackr · 10m ago
Exclusive: Pilgrim raises $9 Mn with 3X valuation surge
Medial

Beauty and personal care D2C firm Pilgrim has raised Rs 75 crore (approximately $9 million) in its extended Series B round led by Fireside and Vertex Ventures. The board at Pilgrim has passed a special resolution to issue 854 Series B1 and B2 preference shares at an issue price of Rs 8,77 655 each to raise Rs 75 crore or $9 million, its regulatory filing accessed from the Registrar of Companies shows. Fireside and Vertex Ventures pumped in Rs 25 crore and Rs 23 crore, respectively. NSFO Ventures, Mirabilis Investment, and NABS Vriddhi cumulatively invested Rs 27 crore during the round. The company will use these proceeds for expansion and general corporate purposes as decided by the board, the filings further added. According to the startup data intelligence platform TheKredible, the company’s valuation has soared to approximately Rs 2,075 crore (around $250 million) post-allotment. This marks an over threefold increase from its last funding round, of $20 million where the company was valued at $75 million. The firm may raise more funds in this round. With the recent funding, Fireside Ventures remains the largest external stakeholder with a 23% stake, followed by Vertex Ventures, which holds 11.2%. NSFO Ventures and Mirabilis Investment command 5.57% and 2.81% stakes, respectively. Founded by Anurag Kedia in 2019, Pilgrim offers more than 90 SKUs across face care, haircare, and skincare products, and fragrances in over 25,000 pin codes. The company said that it offers a wide range of products curated with ingredients from France, Korea, Spain, Australia, the Amazon Rainforest, and Swiss glaciers. The five-year-old firm has raised around $35 million across rounds including its $20 million Series B led by Vertex Ventures in 2023. The company posted 4.47X growth in scale to Rs 76 crore in FY23 from Rs 17 crore in FY22. In pursuit of growth, its losses also jumped 3X to Rs 23 crore in FY23. Pilgrim is yet to file annual results for FY24.

EV startup Kazam raises $6.2 Mn from IFC, Vertex and Avaana Capital

EntrackrEntrackr · 23d ago
EV startup Kazam raises $6.2 Mn from IFC, Vertex and Avaana Capital
Medial

EV startup Kazam raises $6.2 Mn from IFC, Vertex, and Avaana Capital Bengaluru-based EV energy-tech platform Kazam has raised $6.2 million in Series B funding from the International Finance Corporation (IFC), along with existing investors Vertex Ventures Southeast Asia & India and Avaana Capital. This round takes Kazam’s total capital raised to $19.2 million, including $13 million in equity from previous rounds led by Avaana Capital, Vertex Ventures, and Chakra Ventures. The investment will fuel Kazam’s expansion across markets with its energy transition tools to accelerate adoption of sustainable mobility, the company said in a press release. Founded in 2020 by Akshay Shekhar and Vaibhav Tyagi, Kazam is building a device-agnostic digital infrastructure platform that enables EV charging and battery-swapping operators, vehicle OEMs, fleets, and power utilities to manage and analyze charging assets. Kazam’s platform claims to have onboarded over 68,000 chargers and facilitated over 5 million charging sessions. The firm also saw its revenue grow 4X from $1.5 million in FY24 to $6 million in FY25 and is targeting $12 million in revenue with EBITDA positivity this fiscal. Kazam works with the likes of BigBasket, Zypp, Mahindra, Bajaj, Ather, TVS, Hero MotoCorp, and Ultraviolette.

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.

Shraddha Kapoor-backed Palmonas to raise Rs 55 Cr led by Vertex Ventures

EntrackrEntrackr · 1m ago
Shraddha Kapoor-backed Palmonas to raise Rs 55 Cr led by Vertex Ventures
Medial

Shark Tank-famed direct-to-customer (D2C) jewellery startup Palmonas is all set to raise its maiden institutional round. This will be the second funding for the Pune-based company in 2025. "Vertex Ventures is leading Rs 55 crore in Series A round at a post-money valuation of Rs 550 crore ($65 million)," said one of the sources requesting anonymity as discussions are yet to be public. Founded in 2022 by Amol Patwari and Pallavi Mohadikar, Palmonas specialises in demi-fine jewellery such as necklaces, rings, bracelets, earrings, and mangalsutras made from stainless steel with 18k gold vermeil coating. In February this year, Palmonas raised Rs 1.26 crore on Shark Tank India Season 4 from investors Namita Thapar and Ritesh Agarwal, valuing the company at Rs 126 crore post-money. Prior to this, the brand had secured Rs 6 crore in an angel funding round. In March 2024, it roped in Bollywood actress Shraddha Kapoor as its co-founder. Sources indicate that the deal terms have been finalised, and the company is likely to announce the transaction soon. Queries sent to Palmonas and Vertex Ventures did not receive a response by the time of publication of this story. For the fiscal year ending in March 2024, Palmonas reported Rs 5.38 crore in operating revenue against Rs 3.83 crore in FY23. Its losses stood at Rs 1.24 in FY24. It has yet to file its annual report for FY25. Vertex Ventures closed its fifth fund at $541 million in 2023, targeting investments from pre-Series A to Series B. Its recent bets include SpotDraft (lifecycle management), Spyne (AI-based photography and editing), and D2C electronics brand Nuuk.

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