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Tech company Rashi Peripherals raises $18 mn in pre-IPO round
VCCircle
·
1y ago
Medial
Mumbai-based tech company Rashi Peripherals has raised $18 million in a pre-IPO round. The funds were invested by venture capital firm Volrado Venture Partners and the family office of Madhusudan Kela. Rashi Peripherals is an ICT products distributor and plans to use the funds for repayment of borrowings, working capital requirements, and general corporate purposes. The company boasts a pan-India distribution network with branches and warehouses covering various locations in India.
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IPO-bound Infra.Market raises fresh capital after mopping up over $120 mn
VCCircle
·
2m ago
Medial
Building materials platform Infra.Market has secured fresh equity capital ahead of its planned IPO, following a pre-IPO funding round that valued the company at $2.8 billion. The Mumbai-based company, operated by Hella Infra Market Ltd, managed to raise over $120 million.
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Tonbo Imaging raises $21 Mn in pre-IPO round
Entrackr
·
4m ago
Medial
Tonbo Imaging raises $21 Mn in pre-IPO round Bengaluru-based defense technology firm Tonbo Imaging has raised Rs 175 crore or $21 million in its Series D pre-IPO round from Florintree Advisors, Tenacity Ventures, and the Export-Import Bank of India. The proceeds will be used to support the company’s development of next-gen infrared sensors and advanced energy weapons, along with expanding its global operations. Founded by Arvind Lakshmikumar, Tonbo Imaging blends optics, AI, and computer vision to create advanced surveillance and targeting systems that work across land, air, and sea. Its focus is on building lightweight, autonomous platforms that can operate in harsh battlefield conditions. Tonbo Imaging builds high-tech vision and targeting systems used in military operations worldwide. Its products enhance battlefield awareness and are already used in over 30 countries by forces like the U.S. Navy SEALs, Israeli Defense Forces, NATO, and the Indian Army. With over Rs 300 crore raised in previous rounds from investors like Qualcomm and Edelweiss, Tonbo is now gearing up for its IPO.
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Carlyle-backed Varmora eyes a pre-IPO fundraising round of up to $150 mn
Livemint
·
1y ago
Medial
Varmora Granito, a sanitaryware maker backed by Carlyle Group, is looking to raise $100-150 million in a pre-public listing round. The fundraising, which includes primary and secondary investments, is expected to value the company at nearly $600 million. Carlyle is likely to sell some of its stake in the round and partially during the IPO. The company, based in Morbi, Gujarat, has received interest from investors including GIC and 360 One. Varmora Granito aims to list on Indian bourses within the next 18-24 months.
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MENA Digest: Salla gets $130 mn in pre-IPO funding; Arcapita raises $500-mn fund
VCCircle
·
1y ago
Medial
Saudi software startup Salla has raised $130 million in a pre-IPO funding round led by Investcorp, Sanabil Investments, and STV. This surge in dealmaking activity showcases the growing investment interest in the Middle East and North Africa (MENA) region. Additionally, Arcapita has successfully closed a $500 million fund, further highlighting the region as an attractive market for investors.
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Zaggle raises INR 98 crore in pre-IPO funding
Startup News FYI
·
1y ago
Medial
B2B fintech solutions provider Zaggle has successfully secured INR 98 crore in two tranches as part of its pre-initial public offering (IPO) round, according to a tweet by the company. The funds raised will contribute to the company's growth strategies as it moves towards its upcoming IPO.
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Captain Fresh to file IPO papers by mid-August, launch $50-75 mn pre-IPO round
Livemint
·
18d ago
Medial
Captain Fresh, a B2B seafood marketplace, plans to file its draft red herring prospectus (DRHP) for an IPO by mid-August. The seafood company aims for a $400 million IPO within this fiscal year. Prior to the IPO, the firm will conduct a $50-75 million pre-IPO round, where seed investors might partially or fully exit. Previously, Captain Fresh was valued at over $500 million after a $48 million funding round.
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GreenFortune raises $4.5 mn funding round led by Foundamental
Inshorts
·
4m ago
Medial
GreenFortune, a Hyderabad-based windows and doors brand, secured $4.5 million in a Pre-Series A round led by Foundamental, with Titan Capital Winners Fund and Incubate Fund Asia. The funds will drive national expansion, scale production sixfold, and enhance its tech platform. GreenFortune aims for ₹250 crore ARR in two years while revolutionising India’s fenestration industry.
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Sachin Tendulkar and others invest $18 Mn in Rayzon Solar at $844 Mn valuation
Entrackr
·
3m ago
Medial
Solar panel manufacturer Rayzon Solar is raising Rs 150 crore (approximately $18 million) in a new round from the individual investors including Harshadkumar Patel, cricket legend Sachin Tendulkar, and Divyang Patel, among others. The board at Rayzon Solar has passed a special resolution to issue 64,10,260 equity shares at an issue price of Rs 234 to raise Rs 150 crore or $18 million, its regulatory filing accessed from the Registrar of Companies (RoC) shows. Harshadkumar Patel led the round with Rs 26.8 crore, followed by Sachin Tendulkar and Divyang Patel contributing Rs 5 crore each. Around 90 other individual investors also participated in the round, contributing through smaller cheques. The proceeds will be used to support the company’s business expansion and future growth plans, including meeting its long-term and short-term funding needs, as well as for general corporate purposes. Additionally, the company has also launched a new ESOP Plan 2025, which will consist of 1,00,00,000 employee stock options, filings stated. Each ESOP option will be converted into equity shares. According to Entrackr’s estimates, the newly added ESOP plan is valued at approximately Rs 234 crore (around $27.5 million). The Surat-based company will be valued at around Rs 7,170 crore or around $844 million post-allotment. This appears to be the maiden external funding round for the IPO-bound firm, as no prior funding history could be traced before this round. Founded in 2017, Rayzon Solar operates on both B2B and B2C models, manufacturing high-efficiency solar PV modules for distributors, EPC companies, and end users. The company caters to residential, commercial, and utility-scale projects across India and international markets. This funding round appears to be a pre-IPO raise, as the company is planning to go public and is expected to file its Draft Red Herring Prospectus (DRHP) soon, according to media reports. For the fiscal year ending March 2024, Rayzon Solar reported an operating revenue of Rs 1,273 crore and a net profit of Rs 61 crore, according to its standalone financial statements filed with the RoC.
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Fractal Analytics raises $170 Mn via secondary sale
Entrackr
·
24d ago
Medial
Fractal Analytics, an AI and advanced analytics solutions provider, has raised $170 million (around Rs 1,461 crore) through a secondary share sale, valuing the company at $2.44 billion. According to ET, Apax Partners exited part of its holding in Fractal by selling 6% to 22 investors, including Trust Investment Advisors and others. The proceeds will be used to fuel R&D, global GenAI expansion, and debt pre-payment. The development comes as Fractal prepares for an IPO to raise $400–$500 million at a valuation of around $3 billion. The company has appointed Morgan Stanley, Kotak Securities, and Axis Securities as its IPO bankers and is preparing to file its draft red herring prospectus (DRHP). Founded by Srikanth Velamakanni and Pranay Agrawal, Fractal has grown into a global leader in AI, machine learning, computer vision, quantum computing, and cognitive automation, with 70% of its revenue from the US. Fractal recently entered the Generative AI space with offerings like Fractal GPT, Flyfish (a digital sales advisor), and Arya (a data science agent). It also introduced Kalaido.ai, India’s first multilingual text-to-image model, launched in 2024. In March this year, Fractal invested $20 million in one of its product companies, Asper.ai, a purpose-built AI for growth platform for consumer goods and manufacturing. Fractal has raised around $855 million to date including a $360 million round, where the Srikanth Velamakanni and Pranay Agrawal-led company turned unicorn. For the fiscal year ended March 2024 (FY24), Fractal's Indian entity reported revenue of Rs 2,196 crore and a loss of Rs 54.7 crore. It currently has over 5,000 employees across 18 global locations, including the USA, Canada, UK, Netherlands, Ukraine, India, Singapore, South Africa, UAE, and Australia.
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Zepto eyes $250 mn from HNIs, wealth firms at flat valuation
Livemint
·
8m ago
Medial
Quick commerce startup Zepto is reportedly seeking to raise about $250 million from high-net-worth individuals and wealth management firms at a valuation of $5 billion. The Mumbai-based company, which plans to go public next year, aims to balance its captable ahead of its IPO. Zepto recently raised $340 million in a funding round led by General Catalyst, and in a pre-IPO round, it secured $665 million. The company is expanding its network of dark stores and its Zepto Café service to compete with food delivery platforms like Swiggy and Zomato in the quick-commerce sector.
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