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

News on Medial

Related News

Good Flippin’ Burgers raises capital from Tanglin Venture

EntrackrEntrackr · 1y ago
Good Flippin’ Burgers raises capital from Tanglin Venture
Medial

Quick service burger chain Good Flippin’ Burgers has raised Rs 30 crore (approximately $3.6 million) in an extended Series A round from its existing investor Tanglin Venture Partners. The board at Good Flippin’ Burgers has passed a special resolution to issue 34,366 Series A1 cumulative compulsory convertible preference shares at an issue price of Rs 8739.56 each to raise Rs 30 crore, its regulatory filing accessed from the RoC shows. With this, the company has secured $8.6 million to date including a $4 million Series A round led by Tanglin Venture Partners in June 2023. According to TheKredible estimate, the company has been valued at around Rs 400 crore or $48 million (post-money). This marked a 3X growth in the valuation when compared to its last funding. Founded by Viren D’silva, Sijo Mathew, and Sid Marchant, Good Flippin’ Burgers currently has 25 outlets across Mumbai, Delhi, Gurgaon, and Noida. The outlets offer delivery services directly through their website and online aggregators such as Zomato and Swiggy. Five-year-old Good Flippin’ Burgers reported strong growth in its scale during FY23 as its operating revenue spiked 3.58X to Rs 32.53. When it comes to the bottom line, the company posted Rs 3.91 crore loss in the fiscal year ending March 2023. It’s yet to disclose its FY24 numbers. The Mumbai-based startup competes with Burger Singh, Whataburger, and Biggies Burger. In September 2022, Biggies Burger secured Rs 5.5 crore in seed round led by Indian Angel Network. Burger Singh also bagged Rs 30 crore in a Series A round led by Negen Capital in July 2022.

EV startup Turno raises $5.5 Mn led by BII

EntrackrEntrackr · 1y ago
EV startup Turno raises $5.5 Mn led by BII
Medial

Commercial electric vehicle (EV) distribution and financing Turno has raised Rs 46 crore ($5.5 million) from new and existing investors. The new capital infusion for the Bengaluru-based firm came after 15 months. The board at Turno has passed a special resolution to allot 18,057 compulsory convertible preference shares at an issue price of Rs 25,509 each to raise Rs 46 crore, its regulatory filing accessed through the Registrar of Companies (RoC) shows. British International Investment invested Rs 24.94 crore while existing investors and Quona Accion, Stellaris Ventures, and B Capital participated with 6.89 crore, Rs 9.27 crore, and Rs 4.95 crore respectively. According to the filings, the company will use these funds for expansion and to meet working capital requirements as decided by the board. As per startup data intelligence platform TheKredible estimates, Turno is valued at around Rs 587 crore or $71 million post-money. The round seems to be an ongoing one and the firm is likely to raise more money and the firm’s worth will change accordingly. Following the fresh investment, Stellaris Ventures holds 18.68% stake in Turno while B Capital, Quona Accion, and British International Investment have 7.70%, 6.54%, and 4.25% stake, respectively. Founded by Hemanth Aluru and Sudhindra Reddy, Turno is a commercial vehicle marketplace which sells three-wheel EVs such as Mahindra & Mahindra, Piaggio, Euler Motors, and Etrio among others. It also provides financing options across Delhi, Telangana, Maharashtra, et al. The company has raised around $22.5 million to date including a $13.8 million in its Series A round in February last year. Incorporated in 2021, the company was at pre-revenue during the fiscal year ended March 2023 with a loss of Rs 27 crore in the same period. Tuno is yet to file annual results for the last fiscal (FY24).`

Binny Bansal-backed SuperK raises Rs. 31 Cr ($3.7M)

EntrackrEntrackr · 1y ago
Binny Bansal-backed SuperK raises Rs. 31 Cr ($3.7M)
Medial

Tech-enabled grocery retail chain SuperK has raised Rs 31 crore approximately ($3.7 million) in its Series A round led by Catalyst Trusteeship Limited (Blume Venture). This marks the first fundraise for the Hyderabad-based company in 2024. The board at SuperK has passed a special resolution to issue 4,521 Series A CCPS at an issue price of Rs 68,569 each to raise Rs 31 crore, its regulatory filing sourced from the Registrar of Companies show. Catalyst Trusteeship (Blume Venture) spearheaded the round with Rs 21.65 crore while VSS Investment Fund, Veltis Capital, Stargazer Fund, CoralBay Ventures, Silver Needle VenturesHOF Profectus, IA Growth Opportunities, and Abhishek Goyal collectively poured the rest of the amount. The company will use these investments to meet its growth and expansion objectives and to strengthen its financial position, the filing further added. Following the fresh proceeds, Blume Ventures holds 10.1% while Silver Needle Ventures and Veltis Capital will command 1.26% and 1.06% of the company. See TheKredible for the complete shareholding pattern. According to the startup data intelligence platform TheKredible, the company has been valued at around Rs 198 crore or $24 million (post-money). This marks a 25% down in its valuation when compared to its last fundraising. The company has raised around $15 million to date including its $5.5 million led by Binny Bansal-backed 021 capital in March 2022. Founded in 2019, SuperK operates a grocery retail chain with an asset-light franchise model. The company claims to have more than 100 stores across Kadapa and Anantapur. SuperK showcased strong financial performance in the last fiscal year as its revenue surged 3X to Rs 59 crore in FY23 from Rs 19.2 crore in FY22. Meanwhile, the firm’s losses stood at Rs 23.5 crore in the same period.

Exclusive: Subko Coffee raises Rs 80 Cr led by NKSquared

EntrackrEntrackr · 1y ago
Exclusive: Subko Coffee raises Rs 80 Cr led by NKSquared
Medial

Subko Coffee has raised Rs 80 crore in a new round led by Zerodha co-founders-backed NKSquared, said two sources aware of the investment. Several individuals along with Blume Ventures and Progressive LLP also participated in the financing round. “NKSquared has put in around Rs 70 crore whereas the remaining Rs 10 crore came from other investors,” said one of the sources requesting anonymity as talks are yet to be public. The company has received $5.5 million (Rs 45 crore) and NKSquared has already invested Rs 34.2 crore, according to the Subko Coffee regulatory filings with the Registrar of Companies (RoC). Blume Ventures and Progressive Strategies LLP collectively invested Rs 4.75 lakh. Pallavi Dempo, Suprapadh S Manohar, John Abraham, Kalpathi Ratna, and Suparna Gupta also took part in the financing round. As per sources, NKSquared has also acquired a 25% stake in the Mumbai-based firm. Subko Coffee has been valued at around $35-40 million (post-money), said the person quoted above. Queries sent to Subko Coffee NKSquared and Subko Coffee didn’t elicit any immediate response. We will update the story in case they respond. NKSquared was incorporated by Kamath brothers in 2019 but it became active last year and backed a few companies, including Nazara Games. Subko Coffee provides caffeinated drinks along with baked bread-pastries and coffee roasters. According to its filings, several celebrities such as Gauri Khan, Tiger Shroff, and others invested in the company between June 2022 to December 2023. Subko Coffee has been growing at a rapid clip and this could be evident from its growth in the last fiscal year. Its revenue spiked 94% to Rs 13.57 crore in FY23 from Rs 7 crore in FY22 while the firm’s losses stood at Rs 9.86 crore in the same period. Subko Coffee competes with Third Wave Coffee, Blue Tokai, Rage Coffee, Slay Coffee, Sleepy Owl, and Seven Beans Co. Notably, Third Wave Coffee is also backed by Zerodha’s co-founder Nikhil Kamath.

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