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

News on Medial

Related News

Scapia raises $40 Mn in Series B led by Peak XV

EntrackrEntrackr · 3m ago
Scapia raises $40 Mn in Series B led by Peak XV
Medial

Scapia raises $40 Mn in Series B led by Peak XV Travel fintech company Scapia has raised $40 million in its Series B round led by Peak XV Partners, with participation from existing investors, Elevation Capital, Z47, and 3State Ventures. The funding will enable Scapia to strengthen its team, enhance its product offerings, harness the power of AI, and accelerate its ambitious growth plans, Scapia said in a press release. According to the company’s regulatory filings, it has secured Rs 289 crore ($34 million) so far, with the remaining funds expected soon. In this round, Peak XV Partners took the lead, investing Rs 218 crore ($25.6 million), followed by Elevation Capital with Rs 62.28 crore ($7.3 million) and 3State Ventures contributing Rs 8.65 crore ($1.02 million). According to a separate resolution, the Bengaluru-based company also expanded its ESOP pool by 3,460 ESOP options. The newly added ESOP will be valued at Rs 22 crore, while the total pool now stands at Rs 132 crore (approximately $15.5 million). Entrackr estimates that the company’s post-money valuation stands at Rs 1,645 crore or $193.5 million. The valuation may vary after completion of the round. Founded by Anil Goteti, Scapia operates as a fintech-travel platform, offering a lifetime-free credit card with travel rewards. It generates revenue through interchange fees, interest on EMIs, and partner commissions from travel bookings. Scapia’s co-branded card with Federal Bank offers great value with no joining or annual fees, zero forex markup, and free unlimited domestic lounge access and airport perks based on monthly spending. Cardholders get 10% rewards on all purchases and 20% rewards on travel bookings made through Scapia. Scapia has raised over $70 million to date, including its $23 million Series A round led by Elevation Capital and 3State Ventures in November 2023. According to startup data intelligence platform TheKredible, Peak XV Partners became the largest external shareholder with a 13.74% stake, followed by Matrix Partners at 13.68%. Its FY24 appeared to be the first operational year, recording a revenue of Rs 17 crore while incurring a loss of Rs 88 crore during the same period. The company competes with the likes of One Card, which posted Rs 1,425 crore revenue, and Zolve, which stood at a revenue of Rs 67.8 crore in the fiscal year ended March 2024.

Nected raises $1.5 Mn led by Binny Bansal’s Three State Ventures

EntrackrEntrackr · 11m ago
Nected raises $1.5 Mn led by Binny Bansal’s Three State Ventures
Medial

Nected, a next-generation low-code platform, has raised $1.5 million in its seed round led by Binny Bansal’s Three State Ventures. The round saw participation from Endurance Capital, Relentless VC, Climber Capital, Lykke Capital, and Forward Slash Capital. Additionally, over 15 founders and CXOs participated in the round, including Nitin Gupta from PayU, Pallav Pandey from Uolo and Knowlarity, Archit Gupta from Clear, Tonmoy Shingal from Mettl, Ravi Bhushan from BrightCHAMPS, Akshay Saxena from Avanti Fellows, Puneet Kumar from Supr Daily (acquired by Swiggy), and Prashant Kumar from Unbxd. The proceeds will be used to enhance product usability, simplify integration, and scale operations to meet the growing demands of Nected’s user base, particularly on the international front. Founded by Prabhat Gupta and Mukul Bhati, Nected helps businesses overcome inefficiencies and inherent delays in traditional software development. It serves as a toolkit that provides pre-built tech building blocks such as rule engines, workflow automation, and A/B testing tools that saves companies time and money and keeps them from requiring additional technical expertise. The platform is currently used by over 20 customers spread across 5 countries. Prior to this, Prabhat Gupta co-founded TravelTriangle, an online travel marketplace while Mukul Bhati co-founded FastFox, a real-estate company, in 2015 and sold it to Elara Group (the parent company of Housing.com) in 2019.

Flipkart co-founder Binny Bansal invests Rs 200 crore more in cloud kitchen startup Curefoods

IndianStartupNewsIndianStartupNews · 1y ago
Flipkart co-founder Binny Bansal invests Rs 200 crore more in cloud kitchen startup Curefoods
Medial

Bengaluru-based cloud kitchen startup Curefoods has secured an additional $25 million investment from Binny Bansal's Three State Ventures. This comes as part of an ongoing funding round, bringing Three State Ventures' total investment in Curefoods to $50 million. Curefoods plans to use the funds to expand its offline presence and strengthen its portfolio. Since its founding in 2020, Curefoods has rapidly grown to include over 200 cloud kitchens and offline stores across 15 cities in India. With this latest investment, Binny Bansal's stake in the company reaches 18%. Curefoods operates in a competitive market, but its strategic acquisitions and expansion plans have helped it become the second-largest brand in terms of revenue after Rebel Foods.

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