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Zomato-backed AdOnMo raises $7 Mn

EntrackrEntrackr · 2y 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.

Byondnxt secures fresh funding, Zomato stake reduced to 6%

EntrackrEntrackr · 1y ago
Byondnxt secures fresh funding, Zomato stake reduced to 6%
Medial

Byondnxt, which operates the kitchen appliances brand Beyond Appliances, has secured additional funding from a group of new investors. Zomato, which recently acquired an 8% stake in the Bengaluru-based startup, did not participate in this latest funding round. In a stock exchange filing on Sunday, Zomato said that the fundraising was completed on November 30, and the Deepinder Goyal-led company’s shareholding in Byondnxt reduced to 6% on a fully diluted basis. In October, Zomato acquired an 8% stake in Byondnxt for about Rs 6,000. Byondnxt, founded by Eshwar Vikas, who also founded Mukunda Foods, is a direct-to-consumer (D2C) brand specializing in the design and manufacturing of kitchen appliances. In March 2022, Zomato invested $5 million to acquire a 16.66% stake in Mukunda Foods, a company that supplies smart kitchen equipment to business-to-business (B2B) clients. Rakesh Patil is the other co-founder and chief technology officer (CTO) of Beyond Appliances. This is the second funding round for a Zomato-backed company in the past three months. In September, adtech startup AdOnMo raised $25 million in a funding round led by the Singapore-based venture capital (VC) firm Rigel Capital and Indonesia-based Sinar Mas. Meanwhile, Zomato chief Goyal also incorporated a new venture named Continue, which will focus on health tracking and mental wellness. Zomato Limited recently raised Rs 8,500 crore (around $1 billion) through a Qualified Institutions Placement (QIP) of equity shares.

Vivriti Asset Management raises $20 Mn from Development Bank of Austria

EntrackrEntrackr · 10m ago
Vivriti Asset Management raises $20 Mn from Development Bank of Austria
Medial

Vivriti Asset Management raises $20 Mn from Development Bank of Austria Launched in March 2023, VIRAF is the country’s first asset-backed securitization (ABS) fund. It aims to boost funding for small loans to micro and small businesses, especially those led by women. Vivriti Asset Management, a credit investment strategies platform, has secured an additional $20 million in senior debt commitments for its Vivriti India Retail Assets Fund (VIRAF) from the Development Bank of Austria (OeEB). The latest investment from OeEB raises total commitments in VIRAF to $165 million, moving it closer to its $250 million target. Launched in March 2023, VIRAF is the country’s first asset-backed securitization (ABS) fund. It aims to boost funding for small loans to micro and small businesses, especially those led by women. The platform focuses on investing in asset-backed securities that are backed by granular retail and MSME loans, thereby supporting NBFCs and other financial institutions serving underserved borrower segments. As of March 2025, VIRAF has grown its assets under management (AUM) to around $140 million. Since launch, it has disbursed $200 million through 25 NBFCs, reaching over 350,000 individuals and 100,000 MSMEs — with more than 75% of the beneficiaries being women. Over the next ten years, VAM plans to invest over $1 billion in retail ABS. OeEB supports impact investments in developing countries by financing private sector projects that foster sustainable economic growth, particularly in green finance, SME development, and financial inclusion.

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