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WizCommerce raises $8 Mn in Series A round led by Peak XV

EntrackrEntrackr · 2d ago
WizCommerce raises $8 Mn in Series A round led by Peak XV
Medial

WizCommerce, the AI-native sales and ecommerce platform for wholesale distributors, has raised $8 million in Series A funding led by Peak XV Partners (formerly Sequoia India) with participation from Blume Ventures, Z47, and Alpha Wave. The fresh capital will support the firm’s U.S. expansion and accelerate the development of its AI-powered sales, commerce, and B2B payments platform. Founded by Divyaanshu Makkar (ex-Bessemer Venture Partners, ex-EY-Parthenon) and Vikas Garg (ex-Zomato), WizCommerce operates on a SaaS-based subscription and transaction-driven model. Distributors pay for access to its AI-powered tools covering quoting, storefronts, ERP integrations, catalog management, and payments, while the company also earns revenue from transaction facilitation and value-added services. This dual model ensures recurring income from subscriptions while aligning growth with customer sales volumes. Already, the platform claims to process over $100 million in GMV annually, with over 700 sales reps and 300,000 buyers using it across categories like home décor, lighting, and general merchandise. It also plans to scale its AI stack further, expand into adjacent verticals, and strengthen GTM efforts with this fundraise. WizCommerce is also actively hiring across engineering, AI, product, and GTM roles, with hubs in the U.S. and India.

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Sweet Karam Coffee raises $8 Mn led by Peak XV

EntrackrEntrackr · 4m ago
Sweet Karam Coffee raises $8 Mn led by Peak XV
Medial

Sweet Karam Coffee Raises $8 Mn Led by Peak XV Chennai-based South Indian food brand Sweet Karam Coffee (SKC) has raised $8 million in its Series A round led by Peak XV Partners, with existing investor Fireside Ventures also increasing its stake. The funding comes almost two years after Sweet Karam Coffee raised $1.5 million from Fireside Ventures. The proceeds will be used to expand its distribution, launch new products, and improve its supply chain with tech. Founded in 2015, SKC is known for its authentic sweets, snacks, and filter coffee, which is made without palm oil, preservatives, or maida. It also sells condiments and ghee. The startup sells its products via its website, e-commerce marketplaces, and quick commerce platforms, serving customers across 32 countries. SKC claims to have grown 4X in revenue over the past 12 months and is projected to grow another 2.5X in the next 12 months. SKC announced the appointment of Nandhitha Indermohan (ex-Unilever) as Chief Operating Officer to boost execution.

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

EntrackrEntrackr · 4m 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.

Mindgrove raises $8 Mn in Series A funding round

EntrackrEntrackr · 8m ago
Mindgrove raises $8 Mn in Series A funding round
Medial

Mindgrove Technologies, a fabless semiconductor design startup, has raised $8 million in a Series A funding round co-led by Rocketship.vc and Speciale Invest. The round also witnessed participation from Mela Ventures and existing investors Peak XV Partners, Nishchay Goel, Whiteboard Capital, and Anshul Goel. The Chennai-based startup had previously secured $2.325 million in seed funding from Peak XV Partners (formerly Sequoia Capital India & SEA), Speciale Invest, and Whiteboard Capital back in early 2023. The proceeds will be utilized to expand its workforce, enhance its in-house engineering capabilities, and accelerate production and sales of the first chip, Mindgrove said in a press release. Co-founded in 2021 by Sharan Jagathrakshakan and T.R. Shashwath, Mindgrove is incubated by IITM Pravartak Technologies Foundation and IIT Madras Incubation Cell. The company designs high-performance SoCs with advanced features at competitive prices for the Indian and global markets. According to Mindgrove, it has launched “Secure IoT,” a commercial-grade high-performance microcontroller SoC (System-on-Chip) taped out at 28nm. Designed for electronic devices that are transforming into “smart” connected devices like watches, meters, locks, and access control units, as well as for powering devices like printers and PoS machines. The chip is on schedule to reach the market by mid-2025. Mindgrove has received approval under the Government of India's Semiconductor Design Linked Incentive (DLI) scheme, amounting to Rs 15 crore, for developing a new chip, “Vision SoC,” meant for high-performance edge computing and vision processing applications — CCTV cameras, dashcams, video recorders, ADAS, smart TVs, and more.

Arintra raises $21 Mn in Series A round led by Peak XV

EntrackrEntrackr · 14d ago
Arintra raises $21 Mn in Series A round led by Peak XV
Medial

Arintra raises $21 Mn in Series A round led by Peak XV Medical coding platform Arintra has raised $21 million in a Series A round led by Peak XV Partners, with participation from Endeavor Health Ventures, Y Combinator, Counterpart Ventures, Spider Capital, Ten13, and other strategic investors. The proceeds will be used to expand adoption across U.S. health systems and physician groups, accelerate product development, scale its team, and open a new Bay Area headquarters. Founded in 2020 by Nitesh Shroff and Preeti Bhargava, Arintra operates a GenAI-native autonomous medical coding platform for healthcare providers. Its system automates the translation of clinical documentation into accurate insurance codes while integrating clinical documentation improvement (CDI) and denials prevention into a single platform. The business model focuses on enabling providers to secure full, compliant reimbursement while reducing costs, improving claim accuracy, and accelerating cash flow. Arintra follows an enterprise SaaS model, integrating with EHR systems like Epic and Athena to operate within existing workflows. “Reimbursement in healthcare is fundamentally broken. Payers are moving fast, using policy and technology to shift more burden onto providers, but autonomous coding hasn't kept up,” said Shroff, CEO of Arintra. “We built Arintra to help healthcare providers secure compliant revenue at scale while easing the burden on frontline teams.” The firm targets large health systems, hospitals, and physician groups, offering measurable ROI through its revenue assurance approach.

D2C luggage brand uppercase raises $9 Mn led by Accel

EntrackrEntrackr · 1y ago
D2C luggage brand uppercase raises $9 Mn led by Accel
Medial

D2C luggage brand Uppercase (Acefour Accessories) has raised $9 million in a Series B round led by venture capital firm Accel. As per uppercase, it has raised the new round at a post money valuation of $60 million. In 2022, the company had raised $7 million in apPre-Series A funding round led by Sixth Sense Ventures, with participation from Volrado Venture Partners. The funding will support business expansion, aiming to increase its customer base across India, uppercase said in a press release. Founded by Sudip Ghose, uppercase sells travel gear online and through 1,800 multi-brand stores across India. Its products are priced in the range of Rs 3,500-5,000. The Mumbai-based company aims to achieve its Rs 500 crore goal by adding 250 exclusive retail stores over the next three years. Earlier this year, luggage brand Mokobara raised $12 million in a Series B funding round led by Peak XV Partners. Besides Mokobara, uppercase also competes with Assembly, Nasher Miles and EUME. While Nasher miles raised $4 million in July, EUME bagged $1.7 million in June. As per startup data intelligence platform TheKredible, uppercase reported an operating revenue of Rs 10.65 crore in FY23 with Rs 21 crore loss. The company is targeting to more than double its revenue to Rs 150 crore by FY25, up from Rs 70 crore in FY24.

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