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Exclusive: Kunal Shah-backed Punch to raise fresh funds

EntrackrEntrackr · 4m ago
Exclusive: Kunal Shah-backed Punch to raise fresh funds
Medial

Stock broking platform Punch is raising Rs 26 crore (approximately $3 million) in its extended seed round from new and existing investors. This comes just after 7 months of its $7 million seed round. The board at Punch has passed a special resolution to issue 1,27,650 pre-Series A4 CCPS at an issue price of Rs 2,036 each to raise Rs 26 crore, its regulatory filing accessed from the Registrar of Companies (RoC) shows. Existing investors Stellaris Venture Partners and SIG Venture Partners will invest Rs 8.66 crore each, while new investor Four SB Ltd (Mauritius-based) will also participate with Rs 8.66 crore during the round. The company will use the proceeds for growth, expansion, and general corporate activities, as per filings. Entrackr estimates that Punch will be valued at around Rs 157 crore or $18.5 million (post-money). According to the startup data intelligence platform TheKredible, existing investors Stellaris Venture Partners and SIG Venture Partners will each hold a 15.9% stake in the company, while Four SB will own 5.5% (post-allotment). Punch is a mobile-first stock trading platform designed to make options trading seamless for both beginners and seasoned traders. It enables users to trade index options, stock options, and equities on the NSE and BSE exchanges. Punch has raised over $13 million to date across rounds including its $7 million seed round from Stellaris Venture Partners, Susquehanna Asia VC, Prime Venture Partners, and Innoven Capital. Its notable angel investors include Kunal Shah (Cred), Vatsal Singhal (Ultrahuman), and Nitish Mittersain (Nazara). For the fiscal year ending March 2024, Punch reported an operating revenue of Rs 7.2 crore, up from Rs 6.96 crore in FY23, while incurring a loss of Rs 1.68 crore during the last fiscal year.

AI startup OrbitShift raises $7 million in funding led by Peak XV's Surge, Stellaris Venture Partners

Economic TimesEconomic Times · 1y ago
AI startup OrbitShift raises $7 million in funding led by Peak XV's Surge, Stellaris Venture Partners
Medial

Artificial intelligence (AI) sales intelligence startup, OrbitShift, has secured $7 million in seed funding, led by Peak XV Partners' scale-up program Surge and Stellaris Venture Partners. The funds will be used to expand its customer base in the US, invest in technology and product teams, and broaden its product portfolio. OrbitShift, founded in 2022, offers a platform that supports the entire sales ecosystem for technology and IT services companies. This marks OrbitShift's second institutional funding, bringing the total raised to $8.5 million. The company aims to improve sales efficiency for enterprise customers by reducing research and planning time.

Exclusive: Propelld to raise $30 Mn from WestBridge and Stellaris

EntrackrEntrackr · 2m ago
Exclusive: Propelld to raise $30 Mn from WestBridge and Stellaris
Medial

Exclusive: Propelld to raise $30 Mn from WestBridge and Stellaris Propelld, an education-focused lending platform, is set to secure Rs 260 crore (around $30.5 million) in its Series D round led by WestBridge Capital with the participation of Stellaris Venture Partners. Propelld’s board passed a special resolution to allot 20,732 Series D compulsory convertible preference shares (CCPS) at an issue price of Rs 1,25,408 each to raise the aforementioned sum, its regulatory filing accessed from the Registrar of Companies (RoC) shows. Westbridge Capital will invest Rs 240 crore ($28 million) via Setu AIF Trust, Konark Trust, and MMPL Trust while Stellaris Venture Partners will contribute Rs 20 crore. The investment will be utilized to meet the company’s working capital needs and capital expenditure for business expansion, the filing added. According to Entrackr’s estimates, the company is valued at around Rs 860 crore or $101 million post-allotment. Founded in 2019 by Bibhu Prasad Das, Victor Senapaty, and Brijesh Samantaray, Propelld provides education loan financing through 'Study Now, Pay Later' products and Income Sharing Agreements (ISA) via its NBFC arm. The company also offers collateral-free education financing options. Following the latest fundraise, WestBridge will hold a 46.9% stake in the company while Stellaris Venture Partners will hold a 15.69% stake. Propelld competes with other education loans-focused fintech startups like Leap Finance and Grayquest.

Proptech startup Truva raises $3 Mn led by Stellaris

EntrackrEntrackr · 11m ago
Proptech startup Truva raises $3 Mn led by Stellaris
Medial

Proptech startup Truva has raised $3 million in a funding round led by early-stage venture capital firm Stellaris Venture Partners. The round also saw participation from angel investors such as Mukesh Bansal, Ankit Nagori and Lalit Keshre, among others. The funds will be used for team expansion, product enhancement, raising debt for working capital, and scaling operations, Truva said in a press release. Founded in 2023 by Puneet Arora, Monil Singhal and Ankit Gupta, Truva provides detailed property listings with extensive insights and support for buyers, including help with financing, paperwork, and registration. The startup also offers features such as natural light scores, noise ratings, 3D tours, and high-quality photos and videos. Currently operating in Powai and Bandra in Mumbai, Truva plans to expand its reach to other areas in Mumbai within the next year.

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