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TraqCheck raises bridge round at $17 Mn valuation

EntrackrEntrackr · 2d ago
TraqCheck raises bridge round at $17 Mn valuation
Medial

Snippets TraqCheck raises bridge round at $17 Mn valuation TraqCheck, an AI enterprise startup focused on HR systems, has raised a bridge round at a $17 million valuation, for an undisclosed amount. The round was led by angel investors Alok Oberoi (Chairman, Everstone Capital) and Siddharth Mehta (Founder, Bay Capital), with participation from Sivaramakrishnan S. Iyer (Advisor, Bay Capital). The proceeds will be used to scale its background verification product in India and Europe, launch new AI-based HR tools, and strengthen teams in product, engineering, and growth. Founded by Jaibir Nihal Singh, Armaan Mehta, and Rishabh Jain, TraqCheck builds AI agents for enterprises, starting with background verification. Its product uses deterministic LLM frameworks to automate screening processes and reduce turnaround times, helping HR teams improve compliance and efficiency. It has scaled across India and recently expanded into Europe. TraqCheck raised its last round in 2023 at a $14 million valuation. Since then, it has grown rapidly, serving over 200 enterprise clients across BFSI, staffing, healthcare, and the gig economy. The firm is targeting a 3x revenue increase in 2025 as demand for automated HR solutions rises. TraqCheck competes with global background verification and HR tech players like HireRight, First Advantage, and Checkr.

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The Good Glamm Group raises $30 Mn in a new round

EntrackrEntrackr · 1y ago
The Good Glamm Group raises $30 Mn in a new round
Medial

Content-to-commerce company The Good Glamm Group has raised Rs 245.5 crore (approximately $30 million) in a bridge round from the existing investors via right issue. This is the first major infusion in the Delhi-based company after its Series D round in November 2021. The board at Good Glamm has passed the special resolution to allot 1,832 preference shares at an issue price of Rs 13,40,000 each to raise Rs 245.5 crore or $30 million, its regulatory filing sourced from RoC shows. Warburg Pincus led the round with Rs 129 crore while Prosus pumped in Rs 95.73 crore. Bessemer India and Accel Partners also participated with Rs 12.46 crore and Rs 8.31 crore, respectively. Good Glamm will use these proceeds to meet the working capital requirements and activities of the company, as per the business plan approved by the board and mentioned by the firm in the filings. The nine-year-old firm gave an offer to other existing shareholders to participate in the ongoing round, a separate filing from January shows. Good Glamm Group is likely to raise more money in this round. According to the startup data intelligence platform TheKredible, the Good Glamm Group has been valued at around $1.26 billion post this tranche. It was anticipated that the firm’s valuation would go down in the new round but its valuation remained unchanged. Founded by Darpan Sanghvi, and later joined by Priyanka Gill and Naiyya Saggi, the Good Glamm Group is a content-creator commerce conglomerate that comprises a portfolio of innovative and fast-growing direct-to-consumer beauty and personal care brands, powered by its proprietary digital ecosystem of content and creator assets. Before this bridge round, L’Occitane International was the largest external stakeholder in the firm with 15.67% followed by Bessemer India, Warburg Pincus, and Prosus with 14.09%, 8.17%, and 7.60% respectively. See TheKredible for the complete shareholding. While the company is yet to file its financial results for FY23, its top line crossed Rs 250 crore with almost a 5X year-on-year surge in FY22. Its losses also jumped to Rs 273 crore in the same period.

Nutrition brand Fitspire raises $1 Mn in pre-Series A round

EntrackrEntrackr · 7m ago
Nutrition brand Fitspire raises $1 Mn in pre-Series A round
Medial

Fitspire, a family health nutrition and protein supplements brand, has secured $1 million in a bridge round for Series A preparation led by McDonald's India (North and East). Promoter Anan Agarwal, MM Agrawal Group (MMG), along with angel investors from AKG financials at a valuation of Rs 100 crore (around $12 million) participated in the round. Earlier this year, Fitspire, owned by Starcap Wellness Pvt Ltd, raised funds from investors like Jaipuria family office Ruchirans- Anuraag, Sohil-Ashish Chand - LC Nueva Capital among others. The Delhi-based startup will use the fresh funds to strengthen its ecosystem, accelerate market expansion, build the brand, and create new revenue streams. Founded in 2020 by Vipen Jain, Nidhi Jain, and Hinah Sawhney, Fitspire aims to capture 2% of the total nutrition market in India, currently valued at approximately $11.85 billion and projected to grow to $28.70 billion by 2032. As part of its expansion plans, Fitspire is launching a new range of innovative products, including protein shakes, protein cookies, protein chips, protein spreads, and protein-enriched bakery products.

Stanza Living raises $13 Mn led by Alpha Wave

EntrackrEntrackr · 1y ago
Stanza Living raises $13 Mn led by Alpha Wave
Medial

Managed accommodation provider Stanza Living has raised Rs 110 crore ($13 million) in what appears to be a bridge round led by Alpha Wave. The equity round is coming after a gap of more than three years for the Delhi-based startup. The board at Stanza Living has passed a special resolution to issue 1,207 preference shares at a price of Rs 911440.17 each to raise Rs 110 crore, its regulatory filing accessed from the Registrar of Companies shows. Alpha Wave has pumped in Rs 83 Crore while Matrix Partners, Accel India and Peak XV invested Rs 27 crore cumulatively. As per startup data intelligence platform TheKredible, Stanza Living was valued at around Rs 3,900 crore ($470 million). This is a marginal jump in valuation from Rs 3,525 crore ($424 million) in the last equity round. The firm was reportedly in talks to raise funding to the tune of $25 million. Stanza Living had raised $57 million in a debt round led by Kotak Mahindra Bank and RBL Bank in March 2022 and $100 million in an equity round in April 2021. So far, it has scooped up over $230 million across equity and debt rounds. Stanza Living is a managed accommodation platform which provides co-living solutions for working professionals and students. The firm claims to have an inventory of more than 75,000 beds in 450 plus residences with a presence across 24 cities. Stanza Living’s revenue from operations surged to Rs 442 crore in FY23 from Rs 115 crore in FY22. As per TheKredible, its losses increased by 18.71% to Rs 495 crore in FY23 as compared to Rs 417 crore in FY22. The firm is yet to file its audited financial statements for FY24. Stanza Living competes with Colive, Your Space, Settl, Union Living and Coho. Last year, Tiger Global-backed home rental startup NestAway was acquired by Aurum PropTech (formerly Majesco Ltd) in a 90% haircut in valuation to $11 million.

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