Ola Electric raises Rs 100 Cr debt ahead of IPO

IPO-bound Ola Electric raised Rs 100 crore ($12 million) in debt from Alteria Capital, following a $50 million debt funding from EvolutionX. The company issued 10,000 non-convertible debentures with a 13.8% interest rate. Valued at $5.4 billion, Ola Electric filed for an IPO to raise Rs 5,500 crore ($660 million). The company reported a seven-fold revenue increase to Rs 2,631 crore in FY23, despite rising losses.

#Entrackr #News #StartupFunding #StartupNews #OlaElectric #IPOBound #FundingNews #DebtFunding #ElectricVehicles #EVMarket #IndiaStartups #InvestmentNews #EVGrowth

https://entrackr.com/2024/06/exclusive-ola-electric-raises-rs-100-cr-debt-ahead-of-ipo/

Zomato to invest Rs 400 Cr in Blinkit and Zomato Entertainment

Zomato is investing Rs 300 crore ($36 million) in its quick commerce arm Blinkit to compete with Swiggy Instamart and Zepto. Additionally, it will invest Rs 100 crore ($12 million) in its subsidiary, Zomato Entertainment. Since acquiring Blinkit (formerly Grofers) in 2022, Zomato has invested Rs 2,300 crore ($277 million) in it. Blinkit recently achieved EBITDA profitability. Competitors Swiggy and Zepto are also significantly investing in quick commerce.

#Entrackr #News #StartupNews #Startup #Fintrackr #Zomato #Blinkit #Foodtech #Zepto #SwiggyInstamart #QuickCommerce #StartupFunding #IndianMarket

https://entrackr.com/2024/06/zomato-to-invest-rs-400-cr-in-blinkit-and-zomato-entertainment/

Funding and acquisitions in Indian startup this week [27 May-01 Jun]

Indian startups raised $387.23 million, comprising 13 growth-stage deals totaling $309.7 million and 20 early-stage deals worth $77.53 million. Major deals include SEDEMAC, Infra.Market, and Ather Energy. Bengaluru led with 15 deals, followed by Delhi-NCR. E-commerce, fintech, and EV sectors dominated. Seed funding led with 8 deals. Funding decreased by 13% from the previous week. Notable hirings include InCred's COO appointment. Seven funds were launched, and notable acquisitions include BharatX acquiring Zenifi. ESOP buybacks and potential market moves were observed. Various financial results and news flashes were reported. Notable launches include Shopsy by Flipkart and Q-Zap by Razorpay.

#Entrackr #Fintrackr #Funding #Acquisitions #Startup #WeeklyRoundup #WeeklyReport #Report #WeeklyFundingReport #StartupNews

https://entrackr.com/2024/06/funding-and-acquisitions-in-indian-startup-this-week-27-may-01-jun/

UniScholars posted 2X rise in revenue in FY23, expenses follow

UniScholars, an online scholarship platform, soared to Rs 34.6 crore revenue in FY23, marking a 2.6X increase from the previous fiscal year. With all revenue from operations, it's become a go-to for students seeking overseas education, offering comprehensive services from pre-departure to post-landing. Despite substantial funding and shareholder shifts, expenses surged 3.4X to Rs 73 crore, widening losses to Rs 38.3 crore.

#thekredible #Startup #StartupNews #Data #Insights #UniScholars #StudyAbroad #EdTech #Investment #ScholarshipPlatform #HigherEducation #StudentServices #FundingRound #FinancialResults

https://thekredible.com/blogs/unischolars-posted-2x-rise-in-revenue-in-fy23-expenses-follow

BluSmart raising $24 Mn in pre Series B

BluSmart Mobility, an EV ride-hailing and charging hub operator, is raising Rs 200 crore ($24 million) in a pre-Series B funding round by issuing over a million preference shares. This capital-intensive company, founded in 2019, operates 4,400 EV chargers and 7,000 vehicles, competing with Ola and Uber with a unique scheduled pick-up model. Despite significant revenue growth, from Rs 160 crore in FY23 to Rs 390 crore in FY24, audited financials are pending. BluSmart is also expanding to Dubai.

#Entrackr #Fintrackr #News #Startup #StartupNews #BluSmart #ElectricVehicles #GreenMobility #SustainableTransport #Startup #DubaiLaunch #RevenueGrowth

https://entrackr.com/2024/05/blusmart-raising-24-mn-from-existing-investors/

Medkart posted 18% rise in scale in FY23, losses spike 7X

Heathcare focused company Medkart registered an 18% rise in its scale to Rs 35.9 crore in FY23. The same year saw operations contributing over Rs 35 crore to the overall revenue, a 17.4% rise as compared to its preceding fiscal. Visit - https://thekredible.com/blogs/medkart-posted-18-rise-in-scale-in-fy23-losses-spike-7x
#Medkart #revenue #startupnews #thekredible #businessdata #datainsight

MoneyView posts Rs 577 Cr revenue in FY23; profit spikes 27X
Online credit platform MoneyView secured $75 million in its Series E round led by Apis Partners in December 2022. The mammoth funding helped the firm achieve 2.6X growth in its scale along with a staggering 27X jump in profit during the fiscal year ending March 2023. Visit - https://entrackr.com/2024/04/moneyview-posts-rs-577-cr-revenue-in-fy23-profit-spikes-27x/
#Entrackr #MoneyView #Revenue #startupnews #news

Portea’s revenue stays flat in FY23; losses grow 32%
Home healthcare solution provider Portea has been struggling to scale which is evident from its stagnant growth in FY23. At the same time, the Accel-backed firm’s losses grew 32% during the fiscal year ending March 2023. Visit- https://entrackr.com/2024/04/porteas-revenue-stays-flat-in-fy23-losses-grow-32/
#ENtrackr #Portea #Revenue #startupnews #news

SaaS based firm Videoverse’s revenue spike 3X in FY23, losses rise 12X

SaaS based company Videoverse recorded a 3.7X spike in revenue to Rs 1.94 crore in FY23. Videverse has raised over Rs 800 crore through 3 funding rounds. It last raised Rs 374 crore in its Series C round led by Bluestone Equity Partners last December.
Visit - https://thekredible.com/blogs/saas-based-firm-videoverses-revenue-spike-3x-in-fy23-losses-rise-12x
#Videoverse #revenue #SaaS #Startupnews #TheKredible

Nikhil Kamath-backed Gruhas invests in Shark Tank fame Bummer

Shark Tank fame direct-to-consumer (D2C) innerwear brand Bummer has raised Rs 9.25 crore led by Gruhas Consumer Fund along with the participation of Fluid Ventures Fund.
Visit - https://entrackr.com/2024/03/exclusive-nikhil-kamath-backed-gruhas-invests-in-shark-tank-fame-bummer/
#SharkTank #Bummer #investment #startupnews #entrackr

R for Rabbit records over 10% revenue growth in FY23, expenses rise 1.6X

Baby care brand R for Rabbit reported a FY23 revenue of Rs 129 crore, marking a 10% growth from the previous year. Established in 2014, the Ahmedabad-based company offers a range of baby products and raised Rs 40 crore in funding. Despite revenue growth, losses surged from FY22's Rs 42.8 lakhs to Rs 9.9 crore in FY23. Founder Kunal Popat holds over 60% of shares, with Xponentia Capital as a major investor. Expenses, notably in ads and promotions, rose 1.6X to Rs 30 crore.

#thekredible #Rabbit #Startups #News #Data #Insight #StartupNews #BabyProducts

https://thekredible.com/blogs/r-for-rabbit-records-over-10-revenue-growth-in-fy23-expenses-rise-1-6x

Cashfree posts Rs 614 Cr revenue in FY23; losses widen

Cashfree, backed by State Bank of India, reported a 75.43% growth in operating scale in FY23, with revenue reaching Rs 614 crore. However, losses surged to Rs 133 crore from Rs 3 crore in FY22 due to a substantial increase in employee benefits and payment processing costs. The company's primary revenue source is commissions from merchants, rising 75% to Rs 613.29 crore. With expenses doubling, including a 2.1X increase in payment processing charges, Cashfree faced losses attributed to investments in R&D and market share growth.

#Entrackr #Fintrackr #News #Cashfree #Startups #StartupNews #IndianStartups

https://entrackr.com/2024/01/cashfree-posts-rs-614-cr-revenue-in-fy23-losses-widen/

BluSmart raises $24 Mn from existing investors, founders and leadership team

BluSmart Mobility, an EV ride-hailing service and charging infrastructure operator, raised $24 million in an equity round with over-subscription from existing investors, founders, and leadership. The company, challenging Ola and Uber, operates over 4,000 EV chargers across 34 hubs in Delhi-NCR and Bengaluru. With plans to scale its fleet to 8,000 EVs, BluSmart reported crossing $50 million in annual revenue run-rate, growing over 100% YoY, despite losses increasing to Rs 65.4 crore in FY22 as per TheKredible.

#Entrackr #Fintrackr #BluSmart #Startups #StartupNews #News #thekredible #IndianStartups

https://entrackr.com/2023/12/blusmart-raises-24-mn-from-existing-investors-founders-and-leadership-team/

BookMyShow posts Rs 1,026 Cr income and Rs 85 Cr profit in FY23

BookMyShow is an outlier and its comeback after the pandemic sets the company apart from other late-stage firms. During the pandemic (FY21), the firm’s revenue nose-dived to Rs 74 crore as multiplexes and other offline entertainment shows were restricted but it bounced back with a staggering 13X growth in the last two fiscal years (FY22 & FY23) and also posted a hefty profit in the fiscal year ending March 2023. BookMyShow’s revenue from operations surged 3.5X to Rs 976 crore in FY23 from Rs 277 crore in FY22, its consolidated financial statements sourced from the Registrar of Companies show.

#Entrackr #Fintrackr #Bookmyshow #Startups #StartupNews #News #IndianStartups

https://entrackr.com/2023/12/bookmyshow-posts-rs-1026-cr-income-and-rs-85-cr-profit-in-fy23/

Ustraa reports Rs 100 Cr revenue and Rs 40 Cr loss in FY23

Men’s grooming startup Ustraa was acquired by Carlyle-owned wellness and beauty company VLCC at a 40% valuation cut in July this year. The company grew decently in terms of scale but its losses continued to widen in FY23. While we will look at its expenses and losses in the second half of the story, for now let’s look at its avenues of revenue and their growth.
Ustraa’s revenue from operations grew by 47% to Rs 97 crore in FY23, according to its annual financial report with the Registrar of Companies.

#Ustraa #Entrackr #Fintrackr #Startup #StartupNews #News #Carlyle

https://entrackr.com/2023/11/ustraa-reports-rs-100-cr-revenue-and-rs-40-cr-loss-in-fy23/

Funding and acquisitions in Indian startups this week [2-7 Oct]

This week, 14 Indian startups raised about $128 million. E-commerce-focused packaging company Bizongo made the headlines this week for raising the largest funding of this week and soon after laying off around 15% of its workforce. E-commerce roll up startup Mensa Brands and EV infrastructure and Software Company Bolt. Earth were the only other two firms which raised funding in double digits this week.

#WeeklyFundingReport #Entrackr #News #StartupNews #Funding #Acquisitions #Startup

https://entrackr.com/2023/10/funding-and-acquisitions-in-indian-startups-this-week-2-6-oct/

Easebuzz’s scale doubles to Rs 230 Cr in FY23; remains profitable

Easebuzz, a company in the payments infrastructure industry, said it doubled its operating scale during FY23, and it appears that the Payment Aggregator license it acquired in August 2022 may have been a key factor in this expansion.

#Startup #News #Easebuzz’s #Fintrackr #StartupNews

https://entrackr.com/2023/07/easebuzzs-scale-doubles-to-rs-230-cr-in-fy23-remains-profitable/