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Techfino raises Rs 65 Cr from Stellaris, Saison Capital

EntrackrEntrackr · 1m ago
Techfino raises Rs 65 Cr from Stellaris, Saison Capital
Medial

Bengaluru-based NBFC Techfino has raised Rs 65 crore (around $7.5 million) in funding from Stellaris Venture Partners and Saison Capital, the venture arm of Credit Saison. The proceeds will be used to expand its branch network, enhance its technology platform, and scale its secured MSME lending business. Techfino offers Loan Against Property (LAP) to MSMEs in tier II and III cities using a branch-led model. It operates in Karnataka, Gujarat, Madhya Pradesh, and Andhra Pradesh. It also provides education loans through a B2B2C model by partnering with educational service providers. Founded by Jayaprakash Patra (ex-ICICI Bank, ING), Rajesh Panda (ex-Standard Chartered), and Ratikant Satapathy (ex-Bajaj Finance), Techfino uses its in-house technology platform for underwriting and collections. The platform integrates external APIs to verify borrower data and improve risk assessment. The company claims to have disbursed over 1 lakh loans and crossed Rs 200 crore in assets under management (AUM). It has been profitable since inception and plans to double its number of branches this year while expanding disbursements and secured lending. The firm expects to expand operations and build a sizable LAP portfolio over the next 3–5 years.

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Deconstruct raises Rs 65 Cr from L’Oréal’s VC fund BOLD and others

EntrackrEntrackr · 6m ago
Deconstruct raises Rs 65 Cr from L’Oréal’s VC fund BOLD and others
Medial

Deconstruct raises Rs 65 Cr from L’Oréal’s VC fund BOLD and others Deconstruct, a D2C skincare brand, has secured Rs 65 crore ($7.7 million) in funding from L’Oréal’s VC fund BOLD, V3 Ventures, and DSG Consumer Partners, with participation from existing investors Kalaari Capital and Beenext. The funds will support product innovation, leadership in sunscreen and serums, the gentle actives space, and expansion into quick commerce and retail. Founded by Malini Adapureddy, Deconstruct offers skincare for all skin types, focusing on products tailored for India's climate. Deconstruct states it saw 1,000% growth in FY25, achieving annualized net revenue of Rs 200 crore, while reducing losses by 33% during FY24.

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

EntrackrEntrackr · 3m 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.

Peak XV, others divest stake worth Rs 1,600 Cr in MamaEarth’s parent

EntrackrEntrackr · 11m ago
Peak XV, others divest stake worth Rs 1,600 Cr in MamaEarth’s parent
Medial

Peak XV (formerly Sequoia Capital), along with Stellaris Ventures, Sofina Ventures, and Fireside Ventures, collectively sold shares worth Rs 1,600 crore ($190 million) in Honasa Consumer Limited, the parent company of the direct to consumer (D2C) skincare and beauty brand MamaEarth. The aforementioned investors sold 3.24 crore shares of MamaEarth at an average price of Rs 495.48 per share, according to the company’s bulk deal data accessed from the National Stock Exchange. Peak XV and its former entity Sequoia Capital Global Growth Fund III divested around Rs 753 crore ($90 million) worth of shares, while Sofina Ventures, Stellaris Ventures, and Fireside Ventures sold shares worth Rs 298 crore, Rs 225 crore, and Rs 326 crore, respectively, during the bulk deal. Importantly, ICICI Prudential Life and Morgan Stanley collectively purchased Rs 262 crore worth of shares in MamaEarth. According to Entrackr’s estimates, MamaEarth sold 10% of its shares in this single bulk deal. The firm’s total outstanding shares stood at 32.42 crore as of June 30, 2024. The sale of shares came at a time when the Gurugram-based firm reached its all-time high share price of Rs 547 on Tuesday this week. As per NSE data, MamaEarth’s overall market capitalization stood at Rs 16,046 crore ($1.91 billion) as of September 12. In the first quarter of the current fiscal year, the company reported a 17.6% quarter-on-quarter increase in revenue, reaching Rs 554 crore, up from Rs 471 crore in Q4 FY24. This marked the firm’s most profitable quarter, with Rs 40 crore in profit after tax (PAT). Peak XV’s recent exit portfolio includes companies like Blinkit, Zomato, Freshworks, Awfis, Ixigo, Go Fashion, MamaEarth, and others.

Bubble tea brand Boba Bhai raises Rs 12.5 Cr in seed round

EntrackrEntrackr · 1y ago
Bubble tea brand Boba Bhai raises Rs 12.5 Cr in seed round
Medial

Boba Bhai,a quick-service restaurant (QSR) brand focused on bubble tea and other food items, has raised Rs 12.5 crore in its seed round led by Titan Capital and Global Growth Capital UK. The round also saw participation from Arjun Vaidya, Marsshot VC (RazorPay founders fund), DEVC, Warm up Ventures, Asit Oberoi, 1947 Rise Fund by Shiva Singh Sangwan, Peercheque, Varun Alagh, Mandeep Sodhi, Prabhraj (Simba Beer), FinFirst, Neha Patil, Abhinav Sinha from Oyo and other high profile angel investors. The proceeds will be used across hiring, product line expansion and presence across India, the company said in a press release. This is the first institutional fundraising round since its inception in October 2023. In just six months, the startup claims to have processed over 50,000 monthly orders while expanding its footprint to 25 outlets across seven cities – Delhi, Gurugram, Udaipur, Bengaluru, Mumbai, Hyderabad, and Chennai with an average order volume of Rs 400. Founded by Dhruv Kohli, Boba Bhai is building bubble tea and K-Pop burgers QSR chain to expand its presence globally. The Bengaluru-based firm makes an annual revenue run rate (ARR) of Rs 24 crore and a monthly revenue run rate (MRR) of Rs 2 crore. By December 2024, it aims to reach Rs 60-65 crore. Earlier this month, Kolkata-based QSR chain Wow! Momo secured Rs 70 crore ($8.3 million) in funding from Z3 Partners.

DentalKart raises Rs 85 Cr co-led by Malabar Investment & Whiteoak

EntrackrEntrackr · 8m ago
DentalKart raises Rs 85 Cr co-led by Malabar Investment & Whiteoak
Medial

Dental essential focused marketplace Dentalkart has raised Rs 85 crore in its recent funding round co-led by Malabar Investment and Whiteoak. Malabar Investment has made an investment of Rs 65 crore and Rs 20 crore has been invested by Whiteoak. The fresh funds will be allocated towards operational scalability and add more subsidiaries, DentalKart said in a press release. DentalKart offers orthodontics, endodontics, restorative, prosthodontics, disposables, electronics, instruments, and oral surgery services. According to the Delhi based company, it aims to create the most dependable and user-friendly e-commerce platform in India, delivering exceptional experiences for both buyers and sellers. DentalKart claims that it offers a vast range of over 22,000 products across 700 categories sourced directly from more than 500 manufacturers. The company competes with a clutch of dental care chains such as Clove Dental, Smilkes.ai. Smile.ai raised one of the largest rounds in the space. Alpha Wave and Sequoia Capital invested $23 million in Smiles.ai in January 2022.

Samunnati completes Rs 381 Cr in Pre-Series E funding

EntrackrEntrackr · 2m ago
Samunnati completes Rs 381 Cr in Pre-Series E funding
Medial

Samunnati, an agri enterprise focused on enabling inclusive growth across agri-value chains, has raised Rs 42.5 crore (around $5 million) in equity from Agri-Biz Capital Delaware LLC. This marks the first equity infusion for FY 2025-26 and brings the total Series E funding to Rs 381 crore. In the previous fiscal year, Samunnati raised $135 million in funding from several lenders, including USDFC, Credit Saison, Tata Capital, Poonawalla Fincorp, Hinduja Leyland Finance, Wint Wealth, Altifi, Alteria Capital, and Anicut Capital. Founded in 2014, Samunnati operates as a specialized agri value chain enabler offering customized financial and non-financial solutions. Its unique approach focuses on addressing the critical gaps in the agriculture ecosystem by linking farmers to markets, facilitating credit access, and improving farm productivity. The company works extensively with Farmer Producer Organizations (FPOs), agri SMEs, and agri-tech firms, serving over 6,000 farmer collectives and impacting millions of smallholder farmers across the country. With its presence in over 100 agri value chains and operations across more than 25 states, Samunnati’s product suite includes working capital finance, trade facilitation, supply chain solutions, capacity building, and market access support.

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).`

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