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Stable Money raises $20 Mn led by Fundamentum

EntrackrEntrackr · 3m ago
Stable Money raises $20 Mn led by Fundamentum
Medial

Bengaluru-based wealthtech platform Stable Money has raised $20 million (Rs 173 crore) in a funding round led by Fundamentum Partnership and participation from existing investors Z47, RTP Global, and Lightspeed. Aditya Birla Ventures also joined the round. The company had previously raised $20 million across Series A and Seed rounds. The proceeds will be used to expand its product suite, onboard new banking partners, and scale distribution. The company aims to add at least eight more banks and NBFCs in 2025. Founded in 2022 by Saurabh Jain and Harish Reddy, Stable Money enables users to invest in fixed-return products like fixed deposits (FDs), recurring deposits, secured credit cards, and bonds. It currently partners with eight banks and two NBFCs, including IndusInd Bank, South Indian Bank, Slice SFB, Ujjivan SFB, Unity SFB, and Suryoday SFB. The platform has over 150,000 users and more than Rs 3,000 crore in assets under management. For the fiscal year ended March 2024, it reported an operating income of Rs 35.3 lakh and a net loss of Rs 12.29 crore.

D2C retail brand Nutrabay raises $5 Mn in Series A

EntrackrEntrackr · 1y ago
D2C retail brand Nutrabay raises $5 Mn in Series A
Medial

Direct-to-consumer retail brand Nutrabay has secured $5 million in Series A funding round led by RPSG Capital Ventures along with participation from Kotak Alternate Asset Managers Limited. This is the maiden institutional funding round for the Gurugram-based company. The proceeds will be used for the omni-channel expansion and ramp up new product innovation, Nutrabay said in a press release. Co-founded in 2017 by Sharad Jain, Shreyans Jain, And Divya Prakash Jain, Nutrabayoperates as a direct-to-consumer multi brand retail store housing over 100 brands along with its own private label products under the name of Nutrabay. The private label brand products are sold across its D2C website, all major eCommerce websites and offline supplement stores. According to market research, the Indian nutritional supplements market is expected to hit a valuation of $28.70 billion by 2032, at 10.7% CAGR growth. Nutrabay aims to build one large horizontal brand that spans across 3 pillar categories of sports nutrition, VMS and health food & drinks. The company says that it currently houses over 70 products and saw 80% growth in FY24 over FY23. It intends to add over 50 new products to the portfolio by the next financial year. As per startup data intelligence platform TheKredible, Nutrabay saw 4.66X revenue growth in its operating revenue to Rs 89.53 crore in FY23 from Rs 19.24 crore in FY22. Its losses increased to Rs 5.8 lakh in FY23 from a profit of Rs 32.41 lakh in FY22. Nutrabay competes with HealthKart, Optimum Nutrition, My Protein, and MuscleBlaze, among others in the category.

Home decor and lifestyle brand Nestasia raises $8.35 Mn

EntrackrEntrackr · 12m ago
Home decor and lifestyle brand Nestasia raises $8.35 Mn
Medial

Nestasia, a home decor and lifestyle brand, has raised $8.35 million in a fresh funding round from Susquehanna Asia VC, Stellaris Venture Partners, and notable angel investors. The proceeds will be used to scale the company’s efforts in offline store expansion, new category launches, brand building, and hiring. Founded in 2019 by Aditi Murarka Agrawal and Anurag Agrawal, Nestasia offers a curated selection of home decor and lifestyle products across six key categories. Nestasia plans to expand its product range within kitchenware, drinkware, cookware, and appliances and introduce new themed categories such as Nest Baby & Kids (home products for children), and more. Over the past year, Nestasia claims to have expanded its offline presence across six cities, with seven exclusive brand outlets. The firm plans to deepen its presence across these cities and expand to new ones by opening 30 stores by the end of 2025.

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.

Promethean Energy raises $2 Mn in pre-Series A round

EntrackrEntrackr · 3m ago
Promethean Energy raises $2 Mn in pre-Series A round
Medial

Promethean Energy, a cleantech startup focused on decarbonising industrial heating, has raised $2 million in its pre-Series A round led by Transition VC, with participation from Sangam Venture, Sagana Capital, and Fondation Botnar. The proceeds will be used to expand its product line, build AI-based energy optimisation tools, and grow its presence in India and Southeast Asia. The Mumbai-based brand develops industrial-grade heat pump and waste heat recovery systems to replace fossil-fuel-based heating. Its products integrate thermal storage, smart controls, and energy monitoring. The firm offers solutions suited to Indian industrial conditions and operates under both CAPEX and ESCO models. Promethean's systems are used by companies including Hindustan Unilever, Godrej Industries, and Raymond Textiles. The technology is deployed across sectors such as chemicals, textiles, FMCG, and steel, with over 100,000 tonnes of CO2 savings reported annually. It aims to decarbonise 1,000 factories by 2027 and is preparing for international pilots in Bangladesh, Indonesia, and the Middle East.

FINQY raises $2 Mn in fresh round

EntrackrEntrackr · 1y ago
FINQY raises $2 Mn in fresh round
Medial

Fintech startup FINQY has raised $2 million in a new round from Angel Bay India Accelerator, Family Offices and private investors. Earlier in March 2022, the firm had raised $839K in its seed round from Anvita Varshney, AngelBay and others. The proceeds will be used to advance financial services distribution in India through its technology and strategic growth initiatives. Founded in 2019 by Manish Aggarwal, FINQY enables its partners to offer their customers a wide range of financial products. These include credit cards, insurance, investments and loans, as well as easy upsell and X-sell opportunities among these products. The startup helps streamline complex financial decisions across credit cards, insurance, and loans but also significantly enhance customer engagement and facilitate informed decision-making FINQY operates out of 30 offices across 24 cities and 2 countries with the support of over 100 financial and banking partners. It claims to have achieved a revenue milestone of $9.8 million in FY24.

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