Food & Beverage Brand Paper Boat Posts ₹585 Cr Revenue with Lower Losses 48 percent in FY24

paper boat

Paper Boat is an internet-first brand that announced a 16.1 percent increase in operational revenue to Rs 584.9 crore in FY24. The startup provides soft drinks and beverages. The firm also offers raw almonds, trail mixes, pistachios, and more.  The platform provides a product catalog including packaged juices, traditional Indian snacks, dry fruits, and coconut water. The trade of these products is the company’s primary source of revenue and accounts for 52 percent of the total revenue. 

The report by Entrackr mentioned that the firm also earns income through its own manufactured products which accounted for 48 percent of the total revenue. The sale of its products increased the revenue by 16 percent to Rs 304.3 crore in FY24. The overall revenue generated was around Rs 595 crore in this financial year. This includes money from interest income worth Rs 10 crore. The company has secured over $143 million across multiple funding rounds since its inception, including $50.2 million raised during its series D funding round led by Lathe Investment.

The startup data intelligence platform, thekredible mentioned that GIC is the company’s largest stakeholder with 25 percent of the firm’s stake. Sofina holds 18 percent followed by Peak XV partners with 18 percent of the total stake. The startup allows users to buy its products through quick-commerce platforms and offline stores. The cost of materials accounted for 63 percent of the total expenses and increased by 6.4 percent to Rs 404 crore in FY24. However, advertising, finance, marketing, and other expenditures stood at Rs 171 crore in the same duration.

The firm’s total expenses increased by 7.2 percent and stood at Rs 642.3 crore in FY24. The startup reported a 47.9 percent decrease in its losses of Rs 47.14 crore in the same duration. Meanwhile, the employee benefits increased by 22 percent to Rs 66.70 crore. The Bengaluru-based startup offers quality products while meeting market demands. The company intends to control its losses by reducing employee benefits.

The startup posted cash and bank balances of Rs 168 crore in this fiscal year with current assets of Rs 305 crore. The EBITDA margin stood at -5.63 percent while the ROCE was around -15.45 percent. Paper Boat faces competition from other internet-first brands offering soft drinks, nuts, and beverages such as Farmley.

Conclusion:

The soft drink and beverages offering firm, Paper Boat announced a 16.1 percent increase in its operational revenue to 584.9 crore in FY24. This startup provides dry fruits, Indian traditional snacks, packaged juices, and coconut water. The trade of these products and interest in income are the firm’s primary sources of revenue. 

The firm’s loss slipped by 47.9 percent to Rs 47.14 crore in FY24. The total expenditure of the firm increased by 7.2 percent and crossed Rs 642.3 crore in the same duration. The employee benefits increased by 22 percent to Rs 66.70 crore in FY24. The company has secured over 143 million USD across multiple funding rounds to date.

Deep Tech Startup Theranautilus Raises $1.2M in Seed Round from Pi Ventures and other investors 

Theranautilus seed funding announcement after the deep tech startup raised $1.2M from Pi Ventures and other investors.

Theranautilus is a deep-tech startup that develops professional robots for the dental industry. The company raised 1.2 million USD in its ongoing seed funding round. Pi Ventures led the funding round with the participation of Golden Sparrow Ventures. The angel investors including the CEO of tracxn., CEO of Groww, and Abhishek Goyal also participated in the funding round. 

The startup plans to use these fresh proceeds to scale its innovative technology beyond dental applications, enhance its platform, improve its production capability, and develop a go-to-market strategy. The report from Entrackr mentioned that the startup also intends to use this investment to commercialize nanorobotics-based medical devices for dental care applications. The company previously secured $60.3k from the Indian Institute of Technology Roorkee during its seed funding round in 2023. 

Theranautilus offers robotic solutions for critical dental health challenges. The firm uses advanced technology to develop innovative nanorobotic solutions and transform issues like dental hypersensitivity which affects over 2 billion people globally and represents a $6 billion market according to a report by Entrackr. The firm also plans to introduce new services and increase its efficiency while extending innovative technology. This investment round highlights investors’ trust in Theranautilus’s market potential and business model.

The Bengaluru-based company allows users to solve dental-related problems like root canal treatment, tooth fracture, decay, and more. The startup has already developed nanobots including TheraDrive and BioBots. These nanobots with precision-manufactured nanobots offer long-term solutions to targeted locations within dental tissue and deliver biocompatible materials. After getting triggered to repair the damaged tissue, the products have to form a bio-mimetic structure. 

The company wants to provide dental companies with robotics solutions to commercialize precision theranostics-based interventions to manage several diseases including cancer therapy. This fresh capital will enhance the performance capability and allow the firm to develop more innovative robotics solutions. The company uses artificial intelligence and advanced technologies to provide a seamless user experience. 

The company has been working on several new products for dental line applications. The development came just after the deep tech market segment saw increased investor interest. The company plans to use a portion of this investment to expand its customer base while expanding its offerings. Theranautilus faces competition from other deep tech companies offering robotics solutions for dental industry purposes such as DentistRobot, Neocis, and Perceptive.

Conclusion:

Theranautilus is a deep tech startup offering robotics solutions for the dental industry. The company recently raised 1.2 million USD in its seed funding round from Pi Ventures, Golden Sparrow Ventures, and other angel investors. The company intends to use this amount to commercialize its medical devices based on nanorobotics, advance its efforts, enhance its research, and extend its offerings. 

The Bengaluru-based startup aims to provide robotics solutions for multiple dental-related purposes like dental hypersensitivity and other diseases like cancer therapy. The funding round came just after the deep tech firm saw increased investor interest. The company offers nanobots like TheraDrive and competes with other deep tech firms including Neocis and Dentist Robot.

Parking Management Platform Park+ Posts ₹131 Cr Revenue with Higher Losses in FY24

park

Park+ is a management solution offering platform for parking operators that announced a 36.5 percent YoY increase in operational revenue to Rs 131 crore in FY24. The startup provides a digital platform to enable users to search and reserve parking. The application allows users to manage, purchase, and recharge FASTags. The advertisement services, commissions of FASTags, Valter service, and parking are the primary sources of revenue for the company. The startup also offers insurance management and car services.

Entrackr mentioned in its report that the firm also earns its income through the sale of radio frequency tags and access control. The sale of services like commissions of FASTags accounted for 80 percent of the total operating income. This cost increased by 44 percent to Rs 104 crore in FY24. The cost of materials also increased by 65.7 percent to Rs 58 crore in the same duration. 

The company has secured over 54 million USD across multiple funding rounds, including $18.1 million raised during its series C funding round led by Epiq Capital Advisors and others in 2022. The data intelligence platform, tracxn mentioned that Sequoia Capital is the firm’s largest institutional investor. The startup data intelligence platform, thekredible mentioned that the existing investor Peak XV Partners is the largest external stakeholder of the firm.

Park+ also offers services like car cleaning, insurance management, and parking solutions for malls, offices, and homes. The online platform uses advanced technologies to provide a seamless customer experience. This startup expanded its offerings to EV charging networks and FASTag insurance. The legal, advertising, marketing, conveyance, technology, and other expenses increased the total costs by 21.3 percent to Rs 245 crore in FY24. The startup reported a 4 percent increase in its loss to Rs 103 crore in the same duration.

The parking management platform focuses on improving its business model while offering more innovative solutions. The startup intends to control its losses by reducing operating expenses and employee benefits. Employee benefits accounted for 41 percent of the total expenditure and increased by 29.5 percent to Rs 101 crore in this financial year. This includes the ESOP cost which stood at Rs 27 crore in this fiscal year. The EBITDA margin stood at -68.79 percent while the ROCE was around -72.54 percent in the same duration. The company faces competition from other mobility and parking managing platforms such as Cars24, DriveU, and PickMyCar.

Conclusion:

Park+ announced a 36.5 percent increase in operational revenue to Rs 131 crore in this financial year. The parking management platform offers management solutions for parking operators. The sales of services, advertisements, Valet service, and parking are the firm’s major source of revenue. The company has investors including Peak XV Partners and Epiq Capital Advisors. 

The startup reported a loss of Rs 103 crore in FY24. The company plans to minimize its losses through cost-cutting measures. The technology, marketing, advertisement, and other costs increased the total expenses by 21.3 percent to Rs 245 crore in the same duration.

Health and nutrition platform, HealthKart Secures $153M from ChrysCapital & Motilal Oswal Alternates

healthkart

HealthKart is an omnichannel nutrition platform that has secured 153 million USD from Motilal Oswal Alternates and ChrysCapital in its ongoing funding round. This round saw the participation of several investors including Neo Group and A91 Partners. HealthKart provides an online platform for sports, health, and nutritional supplements. The startup plans to use these proceeds to scale its operations, enhance its platform, and expand its services.

The company aims to strengthen its position in the healthcare and nutritional market segment. The startup allows users to search and purchase health-related products online. The online platform also offers vitamins, supplements, sports nutrition, herbs, and more. The startup provides a healthcare services platform offering gym equipment, fitness accessories, and other health-related services. This investment shows investors’ trust in HealthKart’s market potential and business model.

The startup data intelligence platform, thekredible reported that the firm has raised around 360 million USD across multiple funding rounds since its inception, including $135 million raised from existing investors A91 partners, Temasek, and others during its series H funding round in 2022. The company has several nutrition brands, including HKVitals, Gritzo, and MuscleBlaze. The startup offers its products in 200 retail stores across 90 cities in India. 

The Gurugram-based firm also announced its $6.5 million first ESOP buyback plan for current and former employees. HealthKart started as a generic drug search business that later on developed as a healthcare and nutrition brand. The company plans to use some of this investment to enhance its online platform and develop its market presence. The development came just after the nutritional platforms saw increased investor interest.

The healthcare startup posted an increase in its revenue threshold to Rs 1,000 crore for this financial year. The company is yet to announce its official report for FY24. The startup posted revenue of Rs 832 crore in FY23 with a loss of Rs 76 crore in the same duration. The firm also secured $25 million from Sofina and others in the series G funding round. HealthKart wants to transform the nutritional and healthcare market segment using its advanced technologies. 

The data intelligence platform, tracxn mentioned that the firm has around 13 institutional investors including Peak XV partners, Intel Capital, and Kae Capital. The company faces competition from other healthcare products offering platforms such as Bright LifeCare and SastaSundar.

Conclusion:

HealthKart is a healthcare and nutrition startup offering nutritional supplements. The startup got fresh capital of $153 million from ChyrsCapital and Motilal Oswal Alternates. The funding round had participation from other investors including Neo Group and A91 Partners along with new investors. The company also announced its Employee ESOP buyback plan of $6.5 million for its employees. 

The firm intends to use this investment to scale its operations, enhance its platform, and advance its technology. The company has raised around $360 million across multiple funding rounds since its inception. The startup claims to have its offline presence in 200 stores across 90 cities in the country and competes with other healthcare product offering platforms like Bright LifeCare.

Personal care and beauty startup mCaffeine Reports ₹193 Cr Revenue in FY24, Losses Up 6.8%

mCaffeine

mCaffeine is an internet-first brand offering organic personal and beauty care products. The online platform offering beauty products announced a 6 percent decrease in its operational revenue to online Rs 193 crore in FY24. The startup provides organic products including body scrubs, shampoo, lotions, face wash, and more. These product sales are the company’s primary source of revenue. The startup specializes in caffeine-infused haircare and skincare products. 

Entrackr mentioned in its reports that the firm also earned Rs 8.9 crore from its interest on gains bringing the total income to Rs 201.9 crore in FY24. The company has secured around $50.6 million across multiple funding rounds since its inception. This includes $721k raised during its series C funding round from Iswara Varaprasad Reddy, and other investors. The company also received $4.2 million from Paragon Partners, Dsp Hmk Holdings, and others during its series C funding round in April 2023. 

MCaffeine offers products including sheet masks, sunscreens, Serums, and more. This company claims to be India’s first Caffeine-infused personal care product manufacturer. The legal, marketing, hosting, and other things contributed to the expense. However, the advertising costs decreased by 11 percent and stood at Rs 106.17 crore in FY24. The cost of materials saw 12.5 percent increase to Rs 67.67 crore in the same duration. 

The firm’s total expenditure decreased by 6.8 percent to Rs 85.41 crore in this financial year.  The company offers its services through both online platforms and offline stores. The employee benefits also saw a 2.8 percent decrease and stood at Rs 38.54 crore for this fiscal year. MCaffeine has around 30 institutional investors including Amicus Capital Partners and RPSG Capital Ventures.

The Mumbai-based firm aims to improve its business model while offering organic beauty care solutions to strengthen its position in the personal care and beauty sector. The startup data intelligence platform, thekredible mentioned that the existing investor Amicus Capital is the largest external stakeholder of the firm with 12 percent of the firm’s stake owned. The employee benefits have increased compared to the last year. The EBITDA margin stood at -40.42 percent while the ROCE was around -240.19 percent. MCaffeine faces competition from other beauty care brands such as WOW Skin Science, Mamaearth, and The Good Glamm.

Conclusion:

MCaffeine posted a decrease in its revenue from operations by 6 percent to Rs 193 crore in FY24. Entrackr reported the development first. MCaffeine known for offering organic beauty care and personal care products, had recently recorded a significant decrease of 4.8 percent in its total expenses reaching Rs 287.3 crore for FY24. In addition to this, the company also provides products including moisturizers, face wash, and sheet masks from its online store. 

Sales of these beauty and personal care products form a major portion of the company’s revenues. The loss also increased by 6.8 percent and stood at Rs 85.41 crore for this fiscal year. The company plans to minimize its losses through cost-cutting measures. The company has secured over 50.6 million USD across multiple funding rounds since its inception.

Indian Startups Raise $186M This Week Led by Sarvagram, Wheelocity & Bhanzu

indian startups

Indian startups made 21 deals from 11 November to 16 November. The amount raised from these deals was around $185.8 million this week, an increase of 49 percent compared to the previous week. Funding activity increased in India’s startup ecosystem this week, as the number went from last week’s $125 million raised across 18 deals to $185.8 million across 21 deals.

Fintech startup SarvaGram topped the overall and sectorial funding list this week. The total funding amount raised by the startups in this sector was $67 million across one deal. Sarvagram secured $67 million in its series D funding round from peak XV Partners, TVS Capital, and other investors. The company offers lending solutions for small businesses and individuals. Bhanzu led the edtech sector with $16.5 million raised during its series B funding round from Epiq Capital, Lightspeed Ventures, Z3 Partners, and Eight Roads. Another edtech startup Creanovation Technologies secured $592k during its fresh funding round from Physis Capital.

The seed funding sector saw a 10 percent increase compared to last week’s $5.4 million to this week’s $5.9 million. Enterprise tech startups secured the most deals and raised $47 million across seven deals. The clean tech sector emerged as the second favorite of investors this week as it raised $24 million across two deals. The edtech tech sector also reported the same number of deals and raised $17 million. Wheelocity, the agritech platform offering agri-products and related solutions secured $15 million during its series A funding round from Alteria Capital, Lightspeed, Anicut Capital, and others.

Most of these startups were from enterprise tech, edtech, and clean tech sectors followed by agritech, fintech, and deep tech startups like Airbound. Other major deals this week include. A cleantech startup, the ePlane company raised $14 million from Speciale Invest, Micelio Mobility, and Antares Ventures during its series B funding round with the participation of other investors. 

The enterprise tech startup Equal contributed $10 million in funding this week, as it raised $10 million in its series A funding round from Prosus Ventures, Tomales Bay Capital, and others. Ugaoo led the list in the e-commerce sector with $5.6 million raised in its series A funding round from V3 Ventures, RPG Ventures, and DSG Consumer Partners.

Conclusion:

21 deals were made by Indian startups from November 11 to November 16th securing over $185.8 million in funding. SarvaGram secured the biggest amount with $67 million raised in its series D funding round it dominated the funding trend in the fintech sector. Other notable investments include Wheelocity which had the highest fundraising in the agritech sector with $15 million in its series A funding round. 

Most of these startups were from the enterprise tech, clean tech, and edtech sectors followed by cleantech startups like Vecmocon which raised $10 million in its series A funding round from Ecosystem Integrity Fund, British International Investment Fund, and others. Enterprise tech startups had the highest number of deals and raised $47 million from seven deals.

Burger Singh Serves ₹78 Cr Revenue but Losses Surge 531% in FY24

Burger Singh Serves ₹78 Cr Revenue but Losses Surge 531%

Burger Singh is a quick-service restaurant that offers a variety of burgers across India. The startup announced a 34.4 percent increase in its operational revenue to Rs 77.7 crore in FY24. The firm provides burgers incorporating Indian ingredients and flavors to create a diverse customer base. The company’s primary source of revenue was the sales from its stores, franchise services, and franchise goods sales.

The startup also earns its income through food and beverages accounting for 48 percent of the total operating revenue in FY24. Entrackr reported. The company operates in a quick-service restaurant model. These sales for this financial year increased by 60 percent and the sale of franchise stores also increased and stood at Rs 28.6 crore in this financial year. However, the net loss also increased by 531.2 percent compared to the last fiscal year and stood at Rs 27.9 crore in FY24. The startup earned Rs 10.81 crore from sales of franchises increasing the total income in the same duration.

Burger Singh offers an online platform and offline stores emphasizing customer service. The company also provides options for franchise and bulk order opportunities. The company also offers customized and home delivery options to its customers. The total expenditure of the firm increased by 43.7 percent to Rs 91.1 crore in FY24. The cost of procurement accounted for 43 percent of the total cost and grew by 31.3 percent to Rs 39.2 crore in FY24.

Employee benefits grew by 54 percent following the increase in workforce and stood at Rs 18.37 crore for this financial year. The advertising, legal, secondary packaging, transportation, commission, and other expenses pushed the total expenditure to Rs 91.1 crore in FY24. The Gurugram-based startup has raised around 17 million USD across 12 funding rounds, including $3.75 million secured from RB investments, Negan Capital PMS, and other investors during its series A funding round.

The food and beverages startup focuses on improving its brand presence and customer service. The startup plans to minimize losses through its cost-cutting measures. The EBITDA margin stood at -30.94 percent while the ROCE was reported to be around -94.76 percent in the same duration. Burger Singh posted cash and bank balances of Rs 19.51 crore. The company faces competition with other burger manufacturing restaurants such as Good Flippin and McDonald’s.

Conclusion:

Burger Singh is a quick-service restaurant chain that reported a 34.4 percent increase in operational revenue to Rs 77.7 crore with a net loss of Rs 27.9 crore in FY24. This online platform offers various burgers with Indian Flavors and ingredients. These food and beverage sales with franchise services are the company’s primary sources of revenue. 

The firm’s total expenditure increased by 43.7 percent and crossed Rs 91.1 crore in the same duration. Employee benefits increased by 54 percent in this financial year. The company offers a variety of burgers meeting a diverse audience. Burger Singh competes with other food and beverage platforms such as McDonalds.

Vecmocon Raises $10M in Series A funding Led by Ecosystem Integrity Fund

Vecmocon Raises $10M in Series A funding

Technologies is a vehicle management solution platform offering a business fleet that secured $10 million from the Ecosystem Integrity Fund during its ongoing series A funding round. The funding round saw the participation of other investors including Blume Ventures and British International Investment. The startup plans to use these fresh proceeds to scale its operations, enhance its research and development capabilities, increase its team, and expand its services in the global market.

Entrackr reported that the company aims to use this investment to strengthen R&D in high-voltage systems and 5G automotive connectivity while establishing international-standard R&D infrastructure for the electric Vehicle sector. The startup offers solutions for battery management systems, energy storage, motor controllers, and fleet management solutions. 

The company secured 5.2 million USD from Blume Ventures and Tiger Global in its pre-series A funding round. The startup secured around 6.01 million USD across multiple funding rounds since its inception. The data intelligence platform, tracxn reported a post-money valuation of $19.5 million for September 2022. The development came just after the electric vehicle and vehicle intelligence market saw increased investor interest.

The company earns its revenue through sales of its battery and vehicle management services. The startup develops technology and advanced computing solutions for electric vehicles or battery management systems. The investment will help the company strengthen its product services and expand its network in the global market. The company is focused on global expansion in countries including Africa and Southeast Asia. Vecmocon Technologies also received $407k from FITT and Tessellate Ventures during its seed funding round in 2019. 

The Delhi-based vehicle intelligence company currently powers over 70,000 vehicles across Indian roads. The startup uses advanced technology to provide intelligent and innovative electric vehicle solutions. The company posted its revenue from operations of Rs 4.2 crore in FY23. However, the losses stood at Rs 41 lakh in the same duration. 

The startup data intelligence platform, thekredible mentioned that after this round the existing investor Blume Ventures holds 12 percent of the firm’s stake followed by Toger Globa with a 10 percent stake. Vecmocon Technologies has 6 institutional investors including Tessellate Ventures and Tiger Global Management. The company plans to use this investment to solidify its position in the global EV market. The startup faces competition from other EV startups such as Comodule and ViriCiti.

Conclusion:

Vecmocon Technologies is a Vehicle intelligence startup providing vehicle management solutions for business fleets. The startup raised fresh capital of 10 million USD from the Ecosystem Integrity Fund in its fresh funding round. The funding round saw participation from several investors including British International Investment, Blume Ventures, and others. 

The company plans to use this amount to scale its operations, strengthen its research and development for high-voltage systems increase its team, and advance its technology. Following this round, the existing investor Blume Ventures remains the largest external stakeholder with 12 percent. The company has raised over $6.01 million across four rounds to date.

InsuranceDekho Reports ₹743 Cr Revenue, ₹86 Cr Profit in FY24

InsuranceDekho Reports ₹743 Cr Revenue, ₹86 Cr Profit

InsuranceDekho is an online insurance firm that reported a 7.7-time increase in its revenue from operations to Rs 743.6 crore in FY24. The startup offers an online insurance comparison platform with insurance services, multiple policies, making payments, and comparing prices. The insurance brokerage is the company’s major source of revenue. InsuranceDekho is a digital insurance company that allows customers to compare and buy health, travel, motor, and per insurance. 

Entrackr mentioned in its report that the firm also earns its revenue from other services including investment plans like fixed deposits and interest on gains. The insurance brokerage accounted for 97.7 percent of the total operating income. The company has secured over 310 million USD across four funding rounds since its inception, including $60 million raised during its series B funding round led by MUFG and BNP Paribas Cardif with the participation of other investors. The startup also offers several insurance plans in different areas like health, bikes, and cars. 

The data intelligence platform, tracxn mentioned that the firm’s post-money valuation to around 600 million USD. The platform also assists with technical support during claim settlements. The employee benefits also increased by 21.7 percent and stood at Rs 130.26 crore in FY24. Manpower management also increased by 53 times to Rs 35 crore in the same duration. The finance costs and advertisement also accounted for Rs 98 crore of the total expenses.

The total expenditure of the firm increased by 360.4 percent to Rs 699.2 crore in FY24. The startup reported an increase in its profit which stood out at Rs 85.71 crore in the same duration. Meanwhile, the employee benefits increased compared to the last year. The Gurugram-based startup offers several investment plans including ULIP, retirement plans, and others. The additional income of Rs 41.3 crore comes from non-operating sources like software sales and interest income which brought the total income to Rs 785 crore in this financial year. 

The startup data intelligence platform, tracxn mentioned that Goldman Sachs Asset Management is the largest institutional investor of the firm. InsuranceDekho turned profitable in this financial year. The firm posted its EBITDA margin of 11.73 percent while ROCE stood at 16.50 percent in FY24. InsuranceDekho faces competition from other insurance offering platforms like Policybazaar, Turtlemint, and RenewBuy.

Conclusion:

InsuranceDekho is an insurance tech startup offering an online comparison platform for individuals that announced a 670.9 percent increase in its operational revenue to Rs 743.6 crore in FY24. This Gurgugram-based startup offers various investment solutions including fixed deposit and retirement plans. The startup has raised around 310 million USD across multiple funding rounds.

The insurance brokerage and income interest are the firm’s major sources of revenue. The profit increased and stood at Rs 85.71 crore in FY24. The total expenditure of the firm increased by 360.4 percent and crossed Rs 699.2 crore in the same duration. The company controlled its losses by effective cost control and turned profitable in this fiscal year.

Giva Reports ₹274 Cr Revenue, Losses Widen 31% in FY24

Giva Reports ₹274 Cr Revenue, Losses Widen 31%

Giva is an internet-first brand that offers several pieces of jewelry including necklaces, bracelets, rings, and more. The platform offering various jewelry products announced a 66.1 percent growth in its operating revenue to Rs 274 crore in FY24. The startup provides several lab-grown diamonds or jewelry made of gold, silver, and more through its online platform and offline stores. The sale of these jewelry and related products is the company’s primary source of revenue.

The firm also earns income through commissions and sales of other accessories. The data intelligence platform, tracxn mentioned that the startup had secured over 50.5 million USD across multiple funding rounds since its inception, including $32.9 million raised during its series B funding round from A91 partners, Premji Invest, and other investors. The data intelligence platform, tracxn also posted the company’s post-money valuation to be around 239 million USD. The omnichannel jewelry brand also saw increased investor interest.  

The Bengaluru-based startup provides high-quality and lab-grown diamond jewelry accessories to its customers. The online platform uses advanced technologies to give customers a personalized feed and recommendations. Giva offers its services in more than 150 offline stores across India. The firm also introduces a franchise-led model to increase its customer base and broaden its reach. 

The firm reported the cost of procurement of diamonds and metals as the largest expenditure accounting for 34 percent of the total costs. This cost of materials also increased by 53.3 percent and stood at Rs 115 crore in FY24. The company’s marketing and advertising cost was around Rs 87 crore in this financial year. While, the commissions, legal, shipping, and other expenses increased the overall cost. The company posted a 31.1 percent increase in its losses to Rs 59 core in FY24. Entrackr reported. The company has investors including A91 partners, IQ Capital, and Premji Invest. 

Giva aims to control its losses and adjust loss figures through cost-cutting measures. The jewelry brand saw a 59.4 percent increase in its total expenditure to Rs 338 crore in FY24. The employee benefit also jumped by 2.38 times to Rs 50 crore in the same duration. The startup reported its EBITDA margin of -17.14 percent while ROCE stood at -24.42 percent in this financial year. Giva faces competition from other omnichannel jewelry brands such as Caratlane, Bluestone, and Melorra.

Conclusion:

The omnichannel jewelry startup Giva announced a 66.1 percent YoY increase in its operational revenue to Rs 274 crore in FY24. This company offers affordable jewelry accessories including bracelets, necklaces, and rings. The sale of these jewelry and related products is the firm’s primary source of revenue. 

The loss also increased by 31.1 percent to Rs 59 crore in FY24. The employee expenses and promotional and advertisement costs also increased for this financial year. The startup aims to reduce its losses following profitability and controlled expenditure. The firm has secured over 50.5 million USD across multiple funding rounds to date.

Funstop Games Secures $5M in Series A Funding from Info Edge Ventures, 360 One Asset

Funstop Games Secures $5M in Series A Funding

Funstop Games is an online casual game studio with multiple genre games for mobiles. The startup has raised 5 million USD from Info Edge Ventures and 360 ONE assets in its series A funding round. The funding round saw the participation of the firm’s new and existing investors. The company plans to use these fresh proceeds to scale its operations, grow its development efforts, enhance its performing capabilities, and develop its market presence in the casual gaming sector.

The Gaming startup also intends to use some of this investment to build ad tech capabilities and create new titles. The company develops multi-genre games like Airport Rush 3d, Pit Stop Manager, and more. The application allows casual simulation games that enable players to manage and build their own Ram mandir in a 3D environment. The company develops and publishes various mobile games with in-app purchases for virtual goods and other game-related content. 

Funstop Games aims to expand its services globally while targeting multiple genres and reinforcing its growth strategy in the Indian gaming sector. The startup previously raised around 1.5 million USD from Info Edge Ventures during its seed funding round in 2023. The company uses advanced technologies to offer a seamless gaming experience. This investment will enable the startup to improve its performing capability and expand its services. 

The Delhi-based firm plans to launch more tiles in the spiritual gaming segment and expand its market presence. The startup claims that its most popular game Shri Ram Mandir surpassed 25 million downloads. This game created a new gaming segment known as spiritual gaming. Funstop Games reported a total revenue of 4 million USD to date. The company has a portfolio of over 30 games and achieved total global downloads of over 100 million. Entrackr reported the development first. The company’s leading games include Perfect Time and Airport Rush, which together exceeded 75 million downloads. 

The application also develops diverse genre games for mobiles. The startup will use some of this investment to enhance its resources, advance its technologies, expand its offerings, and improve its platform to offer the best user experience. This funding will enable the startup to provide gaming solutions globally. The development came just after the casual gaming startup saw increased investor interest. The company faces competition from other companies in the same segment including Teamsid Gaming, Zuraverse, and HighXP.

Conclusion:

The casual game studio Funstop Games secured 5 million USD in its ongoing series A funding round from 360 ONE asset and Info Edge Ventures with the participation of other investors. The startup intends to use this fresh capital to scale its operations, expand its services, enhance its platform, and strengthen its market presence. The platform provides diverse games for mobiles. 

The company develops and publishes multi-genre games with in-app purchases to buy virtual goods. The gaming studio plans to launch more tiles in the spiritual gaming segment. This investment shows investor’s trust in the Funstop game’s business model and market potential.

Green Frontier Capital Rolls Out ₹1,500 Cr Alternative Investment Fund

Green Frontier Capital Rolls Out ₹1,500 Cr AIF

Green Frontier Capital is an early-stage climate-tech investment company that launched its second-category Alternative Investment fund. The Green Frontier Capital India Climate Opportunities Fund is the firm’s first SEBI-approved alternative Investment Fund. The company launched the fund with a target corpus of Rs 1500 crore. The startup intends to use these funds to invest in low-carbon transition and transform climate technologies across India. The fundraising saw participation from several new and existing investors.

Green Frontier Capital’s Climate Opportunities Fund impact 

The fund will allow India-based investors to support local climate-tech ventures while contributing to the country’s sustainable development with a target corpus of Rs 1500 crore. The report by Entrackr mentioned that the firm mainly aims to help India-based companies from the seed stage to series A stages with a focus on decarbonization, disruptive technologies, and digitization. 

This investment will be used in several sectors including big data, artificial intelligence, and IoT to optimize resources and sustainable growth. Green Frontier Capital’s track record in managing investment funds is impressive. The venture capital fund focuses on early-stage Greentech companies. The strong performance has built investor confidence in launching the Climate Opportunities Fund which marks the first SEBI-approved category two alternative investment fund.

Expectations with the GFC’s new fund

The venture capital firm plans to use this investment in technologies that reduce emissions across critical industries. The fund will also be used to develop emerging solutions in biological intelligence and other fields for transforming food systems, life science, and sustainability.  The investment was primarily made to help the companies scale their business while focusing on sustainability.

This Climate Opportunities Fund is another huge milestone toward the company’s mission to capitalize on global policies while prioritizing support for early-stage companies and local sustainability. The company aims to deliver sustainable returns while moving toward sustainable transformation. The company believes the fund will allow the businesses to scale its operations and grow. The fund will help them achieve economic growth, scale their operations, and financial success. 

GFC’s previous investments

The investment firm recently participated in the pre-series A funding round of an electric vehicle firm Electric Pe. The company invested 3 million USD in the startup with the participation of Blume Ventures and other investors. Before this, Green Frontier Capital invested $3.74 million in KisanKonnect’s seed funding round. The company has backed various startups that develop innovative climate solutions and sustainable energy like Blusmart Mobility, Nutrifresh, and Battery Smart.

Conclusion:

The Investment firm Green Frontier Capital launched a Category 2 alternative Investment Fund, the Climate Opportunities Fund to help startups in big data, AI, and IoT sectors. The SEBI-registered fund has a target corpus of Rs 1500 crore. The company intends to invest in transformative climate technologies and help startups from seed to series A stages.

The company generally makes investments in early-stage greentech startups. This fund will mainly focus on startups in sectors including artificial intelligence, IoT, and Big data. The VC firm mentioned that the fund will also be used for the country’s sustainable development goals.