Zomato acquires Paytm’s movie and ticketing biz for $244 Mn

Zomato is acquiring Paytm's movie and ticketing business for Rs 2,048 crore ($244 million), marking its first major acquisition since Blinkit in June 2022. The deal involves the transfer of 100% stakes in Paytm’s subsidiaries Orbgen Technologies (TicketNew) and Wasteland Entertainment (Insider) to Zomato, along with 280 employees from these subsidiaries. The entertainment ticketing business will remain operational on the Paytm app for up to 12 months during the transition. For FY24, this business generated Rs 297 crore in revenue and an adjusted EBITDA of Rs 29 crore. The acquisition reflects Zomato’s continued expansion and Paytm’s efforts to extract value from its struggling assets.

#Entrackr #ZomatoAcquisition #PaytmDeal #Foodtech #EntertainmentTicketing #QuickCommerce #BusinessAcquisition #ZomatoGrowth #BusinessNews #AcquisitionNews #StartupMergers #Startup #IndianStartup #News #StartupNews

https://entrackr.com/2024/08/zomato-acquires-paytms-movie-and-ticketing-biz-for-244-mn/

Moneyview set to turn unicorn in Series F round

Bengaluru-based Moneyview is nearing unicorn status as it finalizes a new funding round of $50-60 million from new and existing investors, including Apis Partners and Accel. This Series F round will push the company's valuation over $1 billion. Moneyview, which offers personal and home loans, credit cards, and loans against property, has raised nearly $190 million to date. The company's revenue grew 2.6x to Rs 577 crore in FY23, with profits surging 27x. Moneyview is also set to acquire a mid-stage fintech company.

#Moneyview #Entrackr #Fintrackr #News #StartupNews #IndianStartup #UnicornStartup #Fintech #InvestmentNews #FundingRound #StartupGrowth #StartupFunding UnicornJourney #InvestorNews

https://entrackr.com/2024/07/exclusive-moneyview-set-to-turn-unicorn-in-series-f-round/

Exclusive: Awign bags $24.5 Mn in series C, Mynavi now holds 73% stake

Awign has raised Rs 203.5 crore ($24.5 million) from Japan’s Mynavi Corporation, now holding a 73% stake. The funds were raised by issuing 11,485 Series C CCPS at Rs 1,77,206 each. Mynavi also bought back shares from existing investors, valuing Awign at Rs 828 crore ($100 million). Founded in 2016, Awign aids enterprises with outcome-based execution and has shown financial growth in FY23, doubling its revenue to Rs 134.35 crore. The HR tech funding space saw a decline to $90 million in 2023.

#Entrackr #News #Startup #IndianStartup #Awign #StartupFunding #InvestmentNews #Entrepreneurship #TechNews

https://entrackr.com/2024/07/exclusive-awign-raises-24-5-mn-mynavi-now-controls-73-stake/

Tickertape’s revenue scales 2.4X in FY23, losses rise to Rs 35 Cr

Bengaluru-based fintech startup Tickertape saw a 2.4X revenue growth to Rs 7.4 crore in FY23. Founded by Vasanth Kamath, Anugrah Shrivastava, and Rohan Gupta, it provides investment information and analysis. Operating revenue rose to Rs 7 crore, comprising 93% of total revenue. Expenses doubled to Rs 42.7 crore, with significant spending on employee benefits and advertising. Despite raising Rs 40 crore in 2021, losses doubled to Rs 35.3 crore in FY23. Its EBITDA margin is -419.38%, with ROCE at 0.00%.

#thekredible #Tickertape #FintechGrowth #RevenueScaling #StartupSuccess #InvestmentPlatform #BengaluruStartups #StartupFunding #News #Startup #EmployeeBenefits #FintechNews #StockMarketTools #InvestmentResearch #StartupJourney

https://thekredible.com/blogs/tickertapes-revenue-scales-2-4x-in-fy23-losses-rise-to-rs-35-cr

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/

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/

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

Tata Digital-backed Cult.fit tops up Series F with $10 Mn funding

Health and wellness platform Cult.fit (formerly Cure.fit) has scooped Rs 84.5 crore or $10.2 million in an extended Series F round led by existing backer Valecha Investments.

#Cultfit #Tata #Curefit #Cult.fit #Health #Wellness #Entrackr #News

https://entrackr.com/2024/02/exclusive-tata-digital-backed-cult-fit-tops-up-series-f-with-10-m-n-funding/

Yatra churns profits in Q3 FY24, revenue crosses Rs 110 Cr

Yatra’s revenue from operations grew 17.2% to Rs 110.3 crore in Q3 FY24 as compared to Rs 94.13 crore Q2 FY24, as per the firm’s consolidated financial results sourced from the National Stock Exchange.
While compared to Q3 of the previous fiscal year (Q3 FY23), the operating revenue of the company increased over 23% from Rs 89.6 crore.

#Yatra #Revenue #Startup #News #Entrackr

https://entrackr.com/2024/02/yatra-churns-profits-in-q3-fy24-revenue-crosses-rs-110-cr/

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/