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Trufrost & Butler raises $7 Mn from Carpediem Capital

EntrackrEntrackr · 2d ago
Trufrost & Butler raises $7 Mn from Carpediem Capital
Medial

Trufrost & Butler, a provider of commercial refrigeration and foodservice equipment, has raised $7 million in growth funding from Carpediem Capital, a consumer and services-focused private equity fund. The proceeds will be used to enhance customer experience by strengthening order fulfilment, expanding service infrastructure, boosting domestic manufacturing, and exploring international markets. Founded in 2018 by Neeraj Seth and Satish Dudeja, the brand caters to India’s HoReCa (Hotels, Restaurants, Cafés) sector. With the rapid expansion of QSRs and foodservice operators beyond metros, Trufrost & Butler provides cost-efficient, innovation-led solutions that meet the needs of tier II and tier III markets. Its portfolio includes refrigeration, food preparation, and beverage equipment, designed to deliver reliable performance and quicker ROI for customers. It plans to deepen its service backbone, accelerate manufacturing capabilities, and enhance beverage and culinary support initiatives with the fresh capital. Over the past few years, Trufrost & Butler has positioned itself as a service-led, experiential brand in a fragmented industry, competing against both multinational equipment providers and local suppliers. With this funding, Trufrost & Butler is set to accelerate growth in India and prepare for selective global expansion.

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Sindhuja Microcredit raises Rs 120 Cr in Series C round

EntrackrEntrackr · 1y ago
Sindhuja Microcredit raises Rs 120 Cr in Series C round
Medial

New generation microfinance firm Sindhuja Microcredit has raised $14.5 million (Rs 120 crore) in its Series C round from GAWA Capital (through its vehicle Huruma Fund) and Oikocredit. Earlier to this round, the company had raised a Series B funding round of $8.7 million from Norway-based Nordic Microfinance Initiative (NMI) and Carpediem Capital in May 2020. It closed its Series A round of $4 million from Carpediem Capital in March 2019. The new proceeds will be used to expand the business in its existing and new geographies as well as new product lines, the company said in a press release. Promoted by Abhisheka Kumar and Malkit Singh Didyala, Sindhuja Microcredit provides microfinance to skilled women entrepreneurs who lack capital. The Noida-based company also provides business loans to traders, shopkeepers and farmers for working capital needs or for expanding their businesses. Within six years of operation, Sindhuja claims to have provided micro-loans to over 400,000 self-employed women micro-entrepreneurs across nine states in northern, eastern and western parts of India. The company currently operates 235 branches with over Rs 10 billion in Assets under Management (AUM).

Interior design startup Flipspaces raises $35 Mn

EntrackrEntrackr · 4m ago
Interior design startup Flipspaces raises $35 Mn
Medial

Mumbai-based interior design startup Flipspaces has raised $35 million in a funding round led by Iron Pillar. Prudent Investment Managers and Synergy Capital Partners have also participated. The funding includes both primary and secondary capital and will be used to ramp up growth in India, the US, and the UAE, enhance technology capabilities, and explore potential acquisitions. The round also facilitated an exit for early-stage investor Carpediem. Earlier in September 2023, Flipspaces had raised $4 million in its pre-Series B round led by Prashasta Seth and others. Founded by Kunal Sharma, Flipspaces operates a tech-first platform that integrates design, supply chain management, and project execution, targeting the SMB segment, which constitutes 60% of the commercial design market. The startup claims to have scaled to $40 million (approximately Rs 340 crore) in revenue, uses technology to provide end-to-end design and build solutions and has achieved profitability in both India and the US, where it generates 20% of its revenue. Flipspaces claims to have delivered over 8 million sq. ft. of commercial spaces for over 1,000 clients globally, including SMBs, large enterprises, co-working spaces, and retail brands. Its proprietary tools enable immersive visualizations and remote project monitoring through 360-degree views, enhancing client experience and operational efficiency. While Flipspaces has yet to file its annual financial report for FY25, the company registered an operating revenue of Rs 190 crore in FY24—a 90% increase from Rs 100 crore in FY23. However, it also recorded a loss of Rs 8 crore in FY24, less than half of the Rs 19 crore loss in FY23.

Zomato-backed AdOnMo raises $7 Mn

EntrackrEntrackr · 1y ago
Zomato-backed AdOnMo raises $7 Mn
Medial

Ad-tech firm AdOnMo has raised Rs 58.21 crore (around $7 million) in its Series B1 round. This is the first major infusion in the Hyderabad-based company after its Series A round led by Zomato last year. The board at AdOnMo has passed a special resolution to issue 36 equity and 4,156 CCPS at an issue price of Rs 1,38,850 each to raise Rs 58.21 crore or $7 million, its regulatory filing with the RoC shows. Healthcare veteran Ravindranath Kancherla and his son Kancherla Pruthvinath injected Rs 16.6 crore while Qatar Insurance Company and ZNL Growth (Z Nation Lab) pumped in Rs 8 crore and Rs 1.80 crore, respectively. Three dozen individual investors including Manish Kailash Chhabra, Vindhya Guduru, Vikram Malhotra, Usha Reddy Chigarapalli, and Desireddy Srinivasa Reddy also invested in AdOnMo’s Series B round. The company will use these investments for business expansion and to meet working capital requirements, according to the filing. According to the startup data intelligence platform TheKredible, AdOnMo has been valued at around Rs 858 crore or $105 million (post-money). During the ongoing fiscal year, the company also raised Rs 20 crore in debt from Northern Arc and Alteria Capital. Founded in 2016 by Sandeep Bommireddi and Sravanth Gajula, AdOnMo is an ad-tech company which provides targeted digital advertising to outdoor digital screens (residential & corporate parks) across 21 cities. As of now, the company has raised around $25 million across rounds including its $15 million round led by Zomato last year. Before this round, Zomato was the largest external stakeholder with a 17.49% stake followed by BAce Capital and Astarc Ventures. AdOnMo grew at a rapid clip in the last fiscal year as its revenue from operations surged four-fold to Rs 75 crore in FY23. Meanwhile, the company’s losses stood at Rs 38 crore in the same period.

Supermoney raises $3.4 Mn in Series A round

EntrackrEntrackr · 1y ago
Supermoney raises $3.4 Mn in Series A round
Medial

Supermoney, an SME-focused digital lending platform, has raised $3.4 million Rs 28.6 crore in its Series A round from Capital 2B and Capria Ventures. In February 2020, the startup had raised $1 million (Rs 7 crore) from early-stage investor Unitus Ventures. The proceeds will be used to ramp up the platform’s growth and expand disbursements, Supermoney said in a press release. Founded in 2018 by Nikhil Banerjee, Supermoney is a digital platform that provides working capital solutions to businesses by offering customized payment and finance solutions designed specifically for their supply chain. According to the Mumbai-based startup, it has established partnerships with major brands across sectors such as electronics, pharmaceuticals, steel, auto parts, and automotive. Operating in over 40 locations, Supermoney has 30,000 retailers/dealers, over 50 anchors and more than 500 distributors across India on the platform.

D2C brand Zouk raises $10 Mn led by Aavishkaar Capital

EntrackrEntrackr · 10m ago
D2C brand Zouk raises $10 Mn led by Aavishkaar Capital
Medial

Zouk, a direct-to-consumer bags and luggage brand, has raised $10 million in its Series B funding round, led by Aavishkaar Group. This round also saw participation from Stellaris Venture Partners, Titan Capital, Sharrp Ventures, and the JJ Family, bringing Zouk’s total funding to $14.5 million. Entrackr reported on October 7 about Zouk's new funding round. With the fresh capital, Zouk will focus on expanding its network of exclusive brand outlets, aiming for a total of 75 stores. The firm also plans to enhance its marketing efforts and supply chain while investing in talent across various verticals. Founded in 2015 by Disha Singh and Pradeep Krishnakumar, Zouk specializes in handmade products, including laptop bags, tote handbags, sling bags, and wallets, all crafted from 100% vegan leather sourced in India. With over 700,000 customers served, the startup is also venturing into the luggage segment with new backpacks and trolley bags, anticipating strong growth in this area. Sources indicate that Zouk will be valued in the range of $50 million (approximately Rs 400 crore). According to the startup data intelligence platform TheKredible, the Mumbai-based startup was valued at around $7 million during its last round. At the time of the last funding round, co-founders Disha Singh and Pradeep Krishnakumar each held a 31% stake in the company, while Stellaris was the largest external shareholder with a 19.63% stake. For the fiscal year ending in March 2023, Zouk reported a revenue of Rs 47.41 crore, up from Rs 21.82 crore in FY22. However, the company’s losses increased to Rs 10.55 crore, compared to Rs 77 lakh in the previous year. Zouk has yet to file its numbers for FY24. Lead investor Aavishkaar Capital has previously backed several startups, including AgroStar, Altum Credo, Ergos, GoDesi, Milk Mantra, and Newtrace.

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