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Temasek-backed StarAgri’s co-founder on revenue targets, overseas plans and more

VCCircle

VCCircle · 2y ago

Temasek-backed StarAgri’s co-founder on revenue targets, overseas plans and more

Amith Agarwal, co-founder and executive director of Temasek-backed firm StarAgri, discusses the company's revenue targets, overseas expansion plans, and how technology-based solutions helped them navigate the challenges posed by the COVID-19 pandemic. Despite the disruptions, StarAgri managed to stabilize operations in 2021-22 and achieve significant growth in the subsequent year.

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Key milestone, will mark new growth chapter amid online, qcomm boom: Shiprocket CEO on upcoming IPO

Economic Times

Economic Times · 3m ago

Key milestone, will mark new growth chapter amid online, qcomm boom: Shiprocket CEO on upcoming IPO

Shiprocket Co-Founder and CEO Saahil Goel views the upcoming IPO as a significant milestone, indicating internal discipline and growth. The logistics tech company, backed by investors like Temasek and Paypal, aims to expand in India's burgeoning e-commerce sector. Goel emphasizes that the IPO is a step towards maturity and not an endpoint. Shiprocket plans to focus on marketing, omni-channel logistics, and cross-border services to leverage the rising demand from urban shoppers and India’s export push.

Agritech DeHaat’s FY25 revenue up 11% to Rs 3,000 crore - The Economic Times

Economic Times

Economic Times · 7m ago

Agritech DeHaat’s FY25 revenue up 11% to Rs 3,000 crore - The Economic Times

Agritech startup DeHaat, backed by Temasek, achieved Rs 3,000 crore revenue in FY25, up 11% from the prior year. It targets an annual revenue run rate of Rs 4,000 crore. The company, founded in 2012, offers diverse services to farmers and exports agri commodities. Aiming for full-year profitability, DeHaat is focused on high-margin private label sales, export growth, and expanding its network. It is also raising fresh capital for growth and exploring mergers and acquisitions.

NIIF plans maiden private credit fund, targets $2-bn corpus

VCCircle

VCCircle · 1y ago

NIIF plans maiden private credit fund, targets $2-bn corpus

The National Investment and Infrastructure Fund (NIIF) plans to raise $2 billion for its first private credit fund, making it India's largest. The NIIF, backed by the Indian government and international investors like Canada's Ontario Teachers' Pension Plan and Singapore's Temasek, aims to channel international capital into India. The fund will focus on performing credit and large co-investments. NIIF manages four other funds, including the Master Fund and Strategic Opportunities Fund.

Peek at Tiger Global-backed Infra.Market's game plan as it gears up for $1-bn IPO

VCCircle

VCCircle · 11m ago

Peek at Tiger Global-backed Infra.Market's game plan as it gears up for $1-bn IPO

Infra.Market, a Tiger Global-backed company, is preparing for a $1 billion IPO. The firm aims to significantly enhance its private label offerings and escalate sales to the direct-to-retail sector. After surpassing the $2 billion revenue mark last year, Infra.Market targets nearly a 40% revenue increase in the next two years. Co-founders Aaditya Sharda and Souvik Sengupta are focused on strategic growth as the company advances its market position.

Exclusive: Temasek increases stake in Cult.fit to 12% after Rs 440 Cr investment

Entrackr

Entrackr · 17h ago

Exclusive: Temasek increases stake in Cult.fit to 12% after Rs 440 Cr investment

Exclusive: Temasek increases stake in Cult.fit to 12% after Rs 440 Cr investment Health and wellness platform Cult.fit (formerly Cure.fit) has raised Rs 440 crore ($47 million) in a new funding round from Temasek through its investment arm MacRitchie. This is likely to be its last private round, as the company is reportedly planning a public listing soon. The Bengaluru-based firm raised funding after a gap of two years. It last secured $10.2 million in an extended Series F round led by Valecha Investments in Feb 2024. The board at Cult.fit has allotted 90,98,052 Series G CCPS at a share price of Rs 483.62 each to Temasek to raise the aforementioned sum, according to its filing with the Registrar of Companies (RoC). According to Entrackr’s analysis, the Tata-Digital-backed firm’s valuation remained flat in this round at Rs 13,668 crore or $1.45 billion post-money. Founded in 2016, Cult.fit operates on a hybrid fitness model combining digital offerings through its app and physical fitness centers across 300 cities in India. It provides subscription-based fitness plans (Cultpass) that grant access to gyms, group classes, and virtual training. The company is reportedly raising $50 million in this round. Overall, Cult.fit has raised over $720 million to date from the likes of Zomato, Tata Digital, Temasek, Kalaari Capital and South Park Commons among others. Following the allotment of the above round, Temasek will hold 11.88% stake in the firm. The fitness unicorn appointed bankers for its upcoming IPO, including Axis Capital, Jefferies, Goldman Sachs, Morgan Stanley, and JM Financial. The company reportedly plans to raise Rs 2,500 crore (nearly $300 million) through the IPO, which would value it at nearly $2 billion. For the fiscal year ended March 2025, Cult.fit reported a 31% year-on-year hike in operating revenue to Rs 1,216 crore from Rs 927 crore in the previous fiscal year (FY24), while losses narrowed 10% to Rs 480.8 crore. Following its fundraise in 2024, Cult.fit also promoted co-founder Naresh Krishnaswamy to chief executive officer. He succeeded co-founder and long-time CEO Mukesh Bansal, who has transitioned to the role of executive chairman.

US startup sets eyes on real-world AI applications in India - The Economic Times

Economic Times

Economic Times · 1m ago

US startup sets eyes on real-world AI applications in India - The Economic Times

Blaize, a California-based AI startup, focuses on real-world AI applications in India, especially in agriculture, traffic management, and healthcare. With significant R&D in Telangana, the company plans to scale up operations and collaborate with the state government on AI projects. Co-founded by Dinakar Munagala, Blaize is backed by investors like Temasek. It emphasizes energy-efficient AI chips and software, aiming to improve India's agricultural productivity by leveraging AI technology similarly used in western countries.

Fullerton Financial to again scale up financial services, plans Rs 2,000-cr play

Economic Times

Economic Times · 6m ago

Fullerton Financial to again scale up financial services, plans Rs 2,000-cr play

Fullerton Financial, backed by Singapore's Temasek, is set to reinvest in Indian financial services after exiting in 2021 due to pandemic-related disruptions. The company plans a ₹2,000 crore investment in Lendingkart Finance, aiming to expand the loan book and strengthen capital adequacy. Despite significant FY25 losses, Fullerton is optimistic about Indian market potential. The firm intends to book secured loans directly on its balance sheet, marking a strategic shift from co-lending with partner banks.

Lenskart sharpens focus on IPO at $10 billion valuation

Economic Times

Economic Times · 1y ago

Lenskart sharpens focus on IPO at $10 billion valuation

Lenskart plans to seek a $10 billion valuation for its upcoming IPO, doubling its previous funding round valuation. The omnichannel eyewear retailer aims to file draft papers by May, contingent on market conditions. With profitable Indian operations, Lenskart is expanding in Thailand and focusing on local manufacturing. They recorded a $1 billion revenue run rate, improving operational efficiencies, and reduced net loss to Rs 10 crore in FY24. Backed by SoftBank and Temasek, Lenskart is leading India's eyewear market.

Temasek, Lightrock-backed DeHaat aims to grow scale by 50% this fiscal

VCCircle

VCCircle · 2y ago

Temasek, Lightrock-backed DeHaat aims to grow scale by 50% this fiscal

DeHaat, an agritech startup backed by investors including Temasek Holdings and Lightrock India, aims to expand its scale by 50% in the current fiscal year. The company, which reported consolidated revenue growth of 3.2 times in the previous fiscal, offers technology-enabled agricultural services to farmers. DeHaat plans to use the funding to enhance its technology infrastructure and expand its presence across new geographies.

Skyroot eyes up to Rs 1,800 crore raise at unicorn valuation - The Economic Times

Economic Times

Economic Times · 1m ago

Skyroot eyes up to Rs 1,800 crore raise at unicorn valuation - The Economic Times

Skyroot Aerospace, a space-tech startup from Hyderabad, aims to raise $150–200 million to support business expansion, potentially valuing the company at nearly $1 billion. Backed by investors GIC and Temasek, Skyroot has appointed Kotak Mahindra Capital to advise on selling a minority stake. The company plans to issue primary shares to new investors without diluting existing shareholders. Skyroot's valuation increased to $519 million in 2023 after investment from Temasek and GIC.

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