Thursday, May 1, 2025
No menu items!
Home Blog Page 118

Smartworks Raises $12 Million Investment Led by Ananta Capital

By
Garima Bansal
-
0
smartwork founder

Smartworks, a leading coworking startup, has recently secured a significant investment of $12 million (approximately INR 100 Crores) in its latest funding round. Ananta Capital spearheaded the investment, alongside notable contributions from various investors, including Plutus Capital, Kili Ventures LLP, and Dhawan Family Trust.

This financing endeavor marks a pivotal moment for Smartworks as it continues to expand its footprint in the shared workspace industry. The news of this investment was initially disclosed in a filing with the Ministry of Corporate Affairs (MCA) and was later reported by Inc42.

Co-founded in 2016 by Neetish Sarda and Harsh Binani, Smartworks has emerged as a key player in providing flexible office solutions tailored to the needs of enterprises. With a focus on rapid configuration and customization, Smartworks manages over 8 million square feet of office space across more than 40 locations in 13 cities, including Bengaluru, Kolkata, Delhi NCR, Mumbai, and Pune. Its clientele includes a diverse range of organizations, spanning from Forbes 2000/Fortune 500 companies to unicorns and soonicorns.

The infusion of capital is expected to fuel Smartworks’ ambitious expansion plans and further strengthen its market presence.

In a recent development, Smartworks expanded its operations into the Pune market by securing a 14-floor tower in the Balewadi area. This expansion signifies the company’s commitment to meeting the growing demand for flexible workspace solutions in key urban centers.

Despite facing competition from established players such as WeWork India, IndiQube, and Awfis, Smartworks has demonstrated impressive financial performance. In the financial year 2022-23 (FY23), the company reported a staggering 98% year-on-year revenue growth, reaching INR 711 Crores. However, its net loss increased by 44% to INR 101 Crores, indicating the challenges associated with scaling operations in a competitive market landscape.

Revolutionizing Embedded Finance with Strategic Partnerships and Innovative Vision

By
Garima Bansal
-
0
fixerra founder

Fixerra, a dynamic startup in the embedded finance sector, is making waves with its recent rebranding and ambitious growth plans. Originally launched as Fixed Invest, a marketplace for fixed deposits, Fixerra has transformed into a comprehensive banking-as-a-service (BaaS) provider. This shift underscores the startup’s mission to empower digital businesses to seamlessly launch banking products, thereby bridging the gap between traditional banks and fintech companies.

The brainchild of Akshar Shah, Fixerra has rapidly evolved since its inception. Shah, who serves as the founder and CEO, brings a wealth of experience from his tenure at Kotak Mahindra Bank. There, he was a pivotal member of the portfolio advisory team at Kotak Investment Advisors, overseeing assets totaling over Rs 20,000 crore. He also played a key role in the leadership team of Kotak’s in-house fintech app, Kotak Cherry, further honing his expertise in financial services and technology.

Fixerra’s recent fundraising success is a testament to its compelling vision and robust business model. The company secured Rs 14 crore from a diverse group of investors, including Jaideep Hansraj, Managing Director of Kotak Securities, Shailesh Haribhakti, Chairman of Shailesh Haribhakti & Associates, and Oisharya Das, CEO of Kotak Private. The family office of Harish Shah, Managing Director of Signet Excipients, also participated in the round. These investments highlight the confidence industry leaders have in Fixerra’s potential to revolutionize the BaaS landscape.

Commenting on the investment, Shailesh Haribhakti expressed his excitement about supporting Fixerra’s vision. “We are excited to back Fixerra’s vision to bridge a gap between banks and fintechs that helps enable consumers to explore a broader range of superior banking services,” he said. This sentiment is echoed by other investors who recognize the startup’s ability to innovate and provide superior financial solutions.

Fixerra’s rebranding from Fixed Invest marks a strategic pivot towards a broader and more impactful role in the financial ecosystem. The startup aims to become a “digital mall for banks,” providing a wide array of banking products through its BaaS suite. This ambitious vision includes building infrastructure for marketplaces across multiple banking products, thereby enhancing the capabilities of over 200 digital businesses within the next three years.

Despite its promising trajectory, Fixerra has faced its share of challenges. Transitioning from a fixed deposit marketplace to a comprehensive BaaS provider required significant restructuring and strategic planning. Building robust banking partnerships and integrating new features to meet the diverse needs of digital businesses has been a complex process. However, Shah’s leadership and the team’s dedication have been instrumental in navigating these challenges and driving the company’s growth.

Looking ahead, Fixerra is poised to expand its footprint in the embedded finance space. The company is focused on enhancing its technological capabilities, particularly in artificial intelligence and machine learning, to offer more sophisticated and efficient banking solutions. By continuing to forge strong partnerships and innovate its product offerings, Fixerra aims to solidify its position as a leading BaaS provider, helping digital businesses thrive in an increasingly competitive market.

Reelo Secures $1 Million Investment from Silicon Valley’s Gokul Rajaram to Propel Growth

By
Garima Bansal
-
0
reelo founders

Reelo, a customer loyalty and marketing startup based in Ahmedabad, has successfully raised $1 million from Silicon Valley angel investor Gokul Rajaram. Known for his influential roles in companies like Facebook and Google, Rajaram’s investment is a significant endorsement of Reelo’s vision and potential. Founded in 2021 by siblings Prit and Parin Sanghvi, Reelo offers a suite of marketing tools designed specifically for small and mid-sized businesses. By integrating with point-of-sale (PoS) billing software, Reelo enables businesses to collect valuable customer data, automate marketing strategies, and implement effective loyalty programs aimed at retaining customers and driving insights.

The newly acquired funds will be directed towards expanding the team, enhancing artificial intelligence and machine learning capabilities, and extending Reelo’s market reach both domestically and internationally. Currently operating in nine countries, including regions in the Middle East, Africa, and Southeast Asia, Reelo has ambitious plans to enter the US market. CEO Parin Sanghvi highlighted the shift he observed in the US, where brands are increasingly focusing on customer retention through loyalty programs rather than mere acquisition through discounts. He aims to replicate this successful strategy in India, empowering small and mid-sized businesses with technology and data-driven solutions to foster growth.

Reelo’s platform offers a variety of customer engagement tools, including referral programs and smart QR codes. The startup has partnered with numerous PoS billing software providers such as Petpooja, DotPe, TMBill, and Posist Technologies. Notable brands in the food and beverage sector, including Jumbo King, Jamie’s Italian, and Punjab Grill, utilize Reelo’s platform to enhance customer engagement and retention. Dheeraj Gupta, Founder and Managing Director of Jumboking, praised Reelo’s impact on his business, noting a notable increase in customer repeat rate after using Reelo’s loyalty programs and marketing tools.

reelo team

Gokul Rajaram’s involvement brings not just financial backing but also invaluable expertise. His extensive background in marketing technology and strategic roles at major tech companies will be crucial as Reelo continues to innovate and expand. Rajaram expressed his enthusiasm for Reelo’s mission, highlighting the startup’s ability to empower retailers and restaurants to attract more customers, boost sales, and strengthen their brand using customer data, loyalty, and marketing tools.

Reelo currently supports over 17,000 businesses and has engaged with more than 16 million customers. The platform operates on a freemium model, offering a 14-day trial period followed by affordable subscription plans. With its impressive growth trajectory and positive customer feedback, Reelo is well-positioned to make a significant impact in the global market for customer loyalty and engagement solutions.

ShipEase Secures Funding from JITO Angel Network to Boost Logistics Solutions

By
Garima Bansal
-
0
shipease founders

ShipEase, a rapidly growing logistics startup, has announced a new round of funding from prominent backers including the JITO Angel Network Investment Arm of JITO Incubation and Innovation Foundation (JIIF), COGNIPHY.US, and the Ministry of Electronics and Information Technology (MEITY). The amount remains undisclosed, but the infusion of capital is set to drive the company’s ambitious plans for growth and innovation.

Founded by Pawan Kumar, Lalit Singh, and Ajay K, ShipEase has quickly established itself as a key player in the logistics sector, focusing on enhancing the supply chains of Direct-to-Consumer (D2C) brands and small to medium-sized e-commerce retailers. The startup offers automated shipping services that span over 28,000 pin codes, utilizing intelligent courier assignment to ensure efficient deliveries.

Pawan Kumar, CEO of ShipEase, emphasized the critical role of supply chain management, which accounts for around 10% of overall business costs. He explained that ShipEase aims to be a tech-savvy partner for both the D2C community and offline brands, offering comprehensive management solutions from production to inventory and logistics. By leveraging their deep expertise in logistics, ShipEase helps businesses build sustainable and efficient operations.

The founding team brings a wealth of experience from top companies. Pawan Kumar’s background includes significant roles at Xpressbees, Ecom Express, and Delhivery Ltd. Lalit Singh, the Chief Revenue Officer, has an impressive track record with FedEx, Delhivery, and Reliance Industries. Ajay K, the Managing Director and Chief Technology Officer, has extensive technical experience from his time at RBS, Iris Inc., and Aricent. Together, their diverse backgrounds in logistics, e-commerce, and technology fuel ShipEase’s mission to innovate and streamline the shipping industry.

Rajat Mehta, Chairman of JIIF, highlighted the importance of efficient logistics for D2C brands. He noted that managing supply chains is a significant expense for new and emerging brands. ShipEase’s platform and technological approach provide a cost-effective solution, helping brands reach their customers swiftly while keeping logistics costs low.

ShipEase has developed a technology-driven logistics solution that offers end-to-end automation for various delivery needs. Key features include real-time tracking, non-delivery report (NDR) management, returns management, and a consultative dashboard, all designed to enhance shipment security and efficiency.

Currently, ShipEase serves a diverse base of 3,000 clients, handling over a million shipments per month. The company has also maintained a positive EBITDA in double digits, showcasing its financial health and growth potential.

The broader Supply Chain Management Market was valued at approximately $26.8 billion in 2022 and is expected to reach around $62.20 billion by 2030, growing at a compound annual growth rate (CAGR) of 11.1% from 2023 onwards. This promising market outlook positions ShipEase well for continued expansion and impact.

ShipEase’s latest funding round will be used to expand its team, enhance its technological infrastructure, and develop new products to strengthen its market presence. With its innovative approach and robust platform, ShipEase is poised to continue making significant strides in the logistics sector, helping D2C brands and e-commerce retailers optimize their supply chains and deliver exceptional customer experiences.

Palette Brands Secures $2 Million in Pre-Series A Round

By
Garima Bansal
-
0
palette brands founders

Palette Brands, formerly known as White.Inc, a forward-thinking consumer goods firm, has successfully raised nearly $2 million in its pre-series A funding round, spearheaded by Rockstud Capital.

The funding round also witnessed support from existing investors such as IPV and Dholakia Ventures, alongside contributions from notable angel investors including Stoffer Anko Norden and Apurva Salapuria.

Founded by Siddharth Gadodia, Young Yun, Himanshi Tandon, and Bret Recor, Palette Brands is dedicated to catering to the aspirational affluent consumer segment, characterized by their appreciation for exceptional product design and value. The company focuses on developing products within the mass premium segment across categories with substantial total available market (TAM) and significant unmet consumer needs.

Palette’s current portfolio includes Unbottle, a range of reusable and sustainable drinkware products, and Totem, which specializes in creating accessories tailored exclusively for the expanding Apple consumer base in India. Additionally, the company is gearing up to introduce Ember, a cookware brand inspired by vibrant Indian lifestyles and modern décor, emphasizing non-toxic materials.

In a recent strategic move, Palette Brands has forged a partnership with Box Clever which is recognized for developing products for industry leaders in the USA, making this collaboration a significant milestone for Palette Brands as it continues to expand its market presence and innovation.

Ola Electric Receives Sebi Approval for Rs 7,250 Crore IPO

By
Garima Bansal
-
0

Ola Electric, the electric vehicle startup founded by Bhavish Aggarwal, has garnered approval from the Securities and Exchange Board of India (Sebi) for its Rs 7,250 crore initial public offering (IPO), as per sources familiar with the matter. This milestone positions Ola Electric to become the first Indian EV company to debut on the public market.

Sebi’s approval, combined with a buoyant market sentiment, potentially paves the way for the company to launch its IPO within a month, though this timeline remains unconfirmed. Attempts to solicit comment from the company were unsuccessful.

The IPO is set to include a fresh issue of equity shares worth Rs 5,500 crore, along with an offer for sale (OFS) of over 95 million equity shares valued at approximately Rs 1,750 crore.

Bhavish Aggarwal intends to offload up to 47.4 million shares, representing a 3.48 per cent stake in the IPO. Other selling shareholders include Indus Trust, Alpine Opportunity Fund, DIG Investment, Internet Fund III (Tiger Global), MacRitchie Investments, Matrix Partners, SoftBank Vision Fund, Alpha Wave Ventures, and Tekne Private Ventures. Ola Electric is eyeing a valuation range of $7-8 billion.

Since its foray into the EV segment in 2017, Ola Electric has emerged as a dominant player, capturing over 35 per cent of the market share in FY24. Data sourced from the VAHAN portal indicates a steady rise in Ola Electric’s market share from 21 per cent in FY23.

According to the draft red herring prospectus (DRHP), proceeds from the fresh issue will be allocated towards capital expenditure (capex), debt repayment, and research and development (R&D). The company plans to invest Rs 1,226 crore in capex, allocate Rs 800 crore for debt repayment, and earmark Rs 1,600 crore for R&D. An additional Rs 350 crore will be directed towards organic growth initiatives.

Plotline Raises $2.6 Million to Revolutionize App Customization for Consumer Brands

By
Garima Bansal
-
0
plotline founders

Plotline, a pioneering SaaS startup, has secured $2.6 million in seed funding led by Elevation Capital. This funding will support Plotline’s mission to empower B2C product marketers by offering a dynamic platform that customizes app experiences based on user behavior.

Founded in 2022 by former HyperVerge leaders Shubham Jindal and Adarsh Tadimari, Plotline aims to solve the common issue of app underutilization due to users being unaware of all available functionalities. “Mobile apps today offer much more functionality compared to half a decade ago, creating a unique challenge in user navigation and discovery,” said Jindal. “Our platform makes apps dynamic, which can significantly benefit both companies and end users.”

Plotline’s no-code platform enables consumer brands to create personalized app experiences through in-app experimentation with inline widgets, nudges to improve activation and retention, and gamification to deepen engagement. The platform leverages billions of data points to tailor these experiences, integrating large language models (LLMs) for content creation and continuous experimentation.

plotline team

Since its launch, Plotline has gained traction with 50 consumer app teams, including major players like Dream11, Khatabook, BharatPe, and CoinDCX. The startup has impacted over 150 million end users, improving implementation and experimentation speeds by up to tenfold.

The funding will enhance Plotline’s R&D, marketing, and sales efforts, and support its expansion into the US, Middle East, Africa, and Asia-Pacific regions. Jindal emphasized the importance of this expansion: “As apps become multifunctional, the role of app adoption platforms is becoming crucial. We’re helping companies and users navigate the dynamic digital landscape, and this journey is just beginning.”

Elevation Capital’s Vice President, Poorvi Vijay, highlighted the strategic importance of Plotline’s platform in the evolving app market. “With the rise of vertical super apps, Plotline helps consumer apps cut through the noise and deliver top-notch in-app experiences,” she said. “We’re excited to support Shubham and Adarsh as they redefine user engagement and drive growth in this industry.”

Plotline’s innovative approach and rapid growth reflect the broader trend of increasing investment in Indian enterprise tech startups, which have raised $15 billion across 1,100 deals from 2014 to 2023. Plotline’s successful seed round follows other notable funding activities in the sector, underscoring the vibrant investment environment surrounding Indian tech startups.

ICON Secures $1.2 Million Seed Funding to Expand Product Line and Team

By
Garima Bansal
-
0
Icon Founders

ICON, a direct-to-consumer startup specializing in luggage and travel accessories, has successfully raised $1.2 million in seed funding. This investment round, led by DSG Consumer Partners with support from various angel investors, marks a significant milestone for the Mumbai-based company as it aims to disrupt the Indian luggage market.

CEO Mohammad Patel shared that the fresh capital will be used to enhance ICON’s product range, grow the team, and strengthen the distribution network. He emphasized the untapped potential in the Indian luggage market, which is valued at approximately ₹20,000 crore and is expected to grow at a robust annual rate of 14% over the next three years. Notably, nearly half of this market remains unbranded, presenting a significant opportunity for ICON to establish itself as a key player in the mass premium segment.

ICON, founded by industry veterans Mohammad Patel, Poojan Shah, Fazal Lakhani, and Aakash Mehta, aims to cater to modern travelers with products that combine superior design, functionality, and durability. The founders previously achieved success with MyFitness, a health food startup that was acquired by Mensa Brands in 2022. They now bring their expertise to ICON, seeking to redefine the luggage industry in India.

With its innovative products, ICON is set to capitalize on the growing demand for travel and lifestyle goods. The company’s offerings include hard luggage, backpacks, and handbags, all designed to meet the needs of the modern, fashion-conscious traveler. ICON’s products feature unique elements such as wide-handle trolleys, smart bags with power bank slots, and Bluetooth-enabled trackers. The materials used are premium and globally sourced, ensuring durability and style.

DSG Consumer Partners’ MD and Head of India, Hariharan Premkumar, expressed confidence in ICON’s vision, noting the team’s proven track record with MyFitness and the immense growth potential in the luggage market. He highlighted the expected boom in domestic and international tourism in India, which is set to become the fourth-largest global spender in travel by 2030. This growth, coupled with an increasing demand for high-quality, fashionable luggage, underscores the strategic timing of this investment.

Looking ahead, ICON plans to diversify its retail presence by launching its first offline store by 2025, complementing its strong online presence. This move aims to provide customers with a tangible experience of their high-quality products.

ICON’s mission is to transform the travel experience for Indian consumers, making it more stylish, efficient, and enjoyable. With this seed funding, ICON is well-positioned to lead a revolution in the luggage market, offering products that reflect the evolving needs and preferences of today’s travelers

Liquid Diamonds Secures Rs. 9 Crores in Funding for Expansion

By
Garima Bansal
-
0
liquid diamonds Kashyap Mehta founder

Liquid Diamonds, a Mumbai-based provider of a B2B diamond sourcing platform, has recently raised Rs. 9 Crores ($1.1M) in funding, marking a significant milestone in its growth trajectory.

The funding round saw participation from notable backers including Varun Alagh of Mamaearth, Aakrit Vaish of Haptik, and Miten Sampat of CRED, indicating a strong vote of confidence in Liquid Diamonds’ vision and potential within the diamond industry.

Liquid Diamonds intends to utilize the funds to expand its operations and business reach, further solidifying its position as a leading player in the market. Founded by Kashyap Mehta, Mark Molloy, and Chetan Gupta, Liquid Diamonds is a technology startup with offices in New York and Mumbai, offering a B2B sourcing platform for diamond and jewelry businesses.

The platform aims to revolutionize the industry by bringing price transparency and liquidity to diamonds, enabling buyers to purchase at fair market value quickly and easily, while providing suppliers with the opportunity to liquidate their inventory instantly.

Powered by a patented universal continuous double auction technology, Liquid Diamonds’ platform ensures that diamond buyers obtain the best price by putting suppliers into open competition with each other. On the supply side, the company offers a SaaS-based pricing co-pilot that leverages artificial intelligence (AI) and machine learning to help diamond suppliers competitively price their diamonds.

With this recent funding injection, Liquid Diamonds is poised for significant growth and innovation, as it continues to disrupt and transform the diamond industry landscape.

BriskPe Secures $5 Million Seed Funding from PayU to Revolutionize Cross-Border Payments

By
Garima Bansal
-
0
BriskPe founders

BriskPe, a rising star in the fintech world, has successfully raised $5 million in seed funding from PayU, a major player in digital payments and fintech. This substantial investment is set to fuel BriskPe’s mission to streamline and enhance cross-border payment solutions for Indian businesses aiming to expand globally.

Founded in Mumbai, BriskPe has swiftly positioned itself as a crucial platform for micro, small, and medium enterprises (MSMEs), helping them manage international transactions efficiently. The startup’s innovative approach addresses the unique challenges faced by these businesses, offering cost-effective and rapid payment processing services.

The fresh capital will be pivotal for BriskPe, enabling it to strengthen its product and service offerings, expand its team, and scale its operations. This strategic infusion is expected to significantly bolster its capacity to support more Indian enterprises in navigating the complexities of global payments.

BriskPe’s impressive growth trajectory includes a robust customer base of over 1,000 exporters. By simplifying global payments and ensuring rigorous compliance and tracking, the platform aims to make international business transactions more accessible and efficient. Additionally, BriskPe has partnered with Yes Bank to facilitate transactions in over 36 foreign currencies across more than 180 countries, demonstrating its extensive reach and operational capabilities.

This seed funding marks BriskPe’s first institutional investment round, reflecting strong confidence from PayU in the startup’s potential. PayU’s backing is part of its broader strategy to create a comprehensive payments platform that spans both domestic and international markets. This partnership is expected to significantly enhance PayU India’s offerings in the cross-border payments sector.

Sanjay Tripathy, Co-Founder and CEO of BriskPe, expressed enthusiasm about the partnership, stating, “This investment represents a pivotal step in simplifying cross-border transactions for MSMEs. Our goal is to bridge the gap between domestic and international trade, empowering local businesses with innovative solutions to thrive globally.”

PayU’s Chief Investment Officer, Vijay Agicha, echoed this sentiment, highlighting BriskPe’s alignment with PayU’s cross-border payment strategy and its focus on compliance. “We are excited to actively participate in shaping BriskPe’s future growth. Their expertise in digital-first business models and banking systems is crucial for driving economic growth in India,” Agicha remarked.

As BriskPe continues to evolve, its commitment to making global payments more efficient, cost-effective, and compliant positions it as a key player in the fintech landscape, competing with other innovators like PayPal, Razorpay, and Skydo. With PayU’s support, BriskPe is well on its way to revolutionizing the cross-border payment experience for Indian businesses.

1...117118119...129Page 118 of 129