UGRO CAPITAL Approves Raising Upto rs 135 Crore NCDs 

URGO CAPITAL APPROVES RAISING NCDs

Ugro Capital is a non-banking finance company or a business lending platform. The company has  recently approved a financial decision to increase its capital structure and expand its technical  capabilities. Ugro Capital has approved the issuance of Non-Convertible Debentures worth up to Rs  135 crore. The company has approved the issuance of up to 2,500 NCDs each with a value of Rs 1 lakh. 

Ugro Capital also approved the acquisition of a Bengaluru-based finance platform, MyShubhLife for a value of Rs 45 crore. The deal, which combines cash and equity will see MyShubhLife as a wholly owned subsidiary under Ugro. The company aims to enhance its technology and deliver  innovative credit solutions to distributors across the country. The Founder and CEO of MyShubhLife,  Monish Anand mentioned the objective of MSL is to use the technology as a catalyst for offering  innovative credit solutions across India. MSL will surrender its permit, as the RBI’s licensing rule doesn’t allow two NBFC licenses within the same entity. 

During regulatory filing with BSE, Ugro Capital announced the approval for an equity capital raise of Rs  1,332 crore through compulsory convertible debentures. One of the existing investors of Ugro, Samena  Capital committed Rs 500 crore through warrants. The company has also acquired MyShubhLife for a value of Rs 45 crore.

Ugro Capital had a deal to break the amount into two parts by giving Rs 28 crore  to acquire 76% of MyShubhLife, and the remaining Rs 17 crore will be paid later to secure full  ownership. Now that MSL is a subsidiary under Ugro Capital, the company is focusing on increasing new retailers within the next two to three years. With 200,000 new retailers and projecting an increase  in AUM of Rs 15,000 crore. The company is predicted to get a profit after tax of Rs 100 crore.  

The founder and managing director of Ugro Capital, Sachindra Nath shows confidence in this step by  saying that Ugro will become the Largets MSME financing company in India by 2026. As the  company is now entering embedded financing through MSL, its potential to do disbursement is now  almost 10,000 crores.  

Conclusion: 

Ugro Capital is a non-banking finance company that has recently approved a financial decision to  increase its capital structure and expand its technical capabilities. Ugro has approved the  issuance of NCDs up to Rs 135 crore. The company has also acquired MyShubhLife for a value of Rs 45  crore. Ugro had a deal to break the amount into two parts by giving Rs 28 crore to acquire 76%  of MyShubhLife, and the remaining Rs 17 crore will be paid later to secure full ownership.

The Founder  and CEO of MyShubhLife, Monish Anand mentioned the objective of MSL is to use the technology as  a catalyst for offering innovative credit solutions across India. MSL will surrender its permit, as the RBI’s  licensing rule doesn’t allow two NBFC licenses within the same entity. As the company is now entering  embedded financing through MSL, its potential to do disbursement is now almost 10,000 crores.

Thinkuvate Rolled Out Rs 100 Crore Maiden Fund to Accelerate Tech Innovation in India

Thinkuvate Rolled Out Rs 100 Crore Maiden Fund

Thinkuvate is a Singapore-based angel investment network that has announced the launch of a Rs 100  crore maiden India Fund. This fund will be invested in India-based Tech startups. The fund aims to  invest Rs 3 crore in tech startups across various sectors with 12 to 15 startups each year as a goal. The  fund deployment will start in July this year.  

Thinkuvate has been investing in India since 2016 so they know the large market reach and growth  potential of Indian startups. They are already evaluating and discussing with a few startups. The fund  will prefer startups that have built market acceptance and early traction, revenue-generating, parented  product startups, and more than one founder startup. ET mentioned in a report that in the first phase besides established centers, Thinkuvate will use funds in the startup of cities including Bengaluru,  Raipur, Chennai, and Nagpur. With an investor base of over 200, the fund expects to reach its first close  within the first quarter. 

This early-stage startup investment company has investors in Singapore, India, the UK, the Middle East,  the U.S., Australia, and Latin America. The co-founder of Thinkuvate, Toshniwal mentioned that the  reason behind this exclusive Indian fund is the successful investment they have made since 2016. The  company has been investing in Indian startups for years and the performance of these companies with  a favorable Indian economy, and growing investor interest is the reason behind the launching of the  Maiden India Fund. Another co-founder of Thinkuvate emphasized the network’s portfolio includes more than 22 companies across India and Southeast Asia, and one of them is listed on the Australian  Stock Exchange. 

This fund will provide mentors who will guide the portfolio through its growth journey with the capital.  The fund will be deploying capital from next quarter, with various startups already under evaluation  and discussion. This investment is expected to help Indian startups to build robust business models.  

Conclusion: 

Thinkuvate is a Singapore-based angel investment network that has announced the launch of a Rs 100  crore maiden India Fund. This fund will be invested in India-based Tech startups. The fund aims to  invest Rs 3 crore in tech startups across various sectors with 12 to 15 startups each year as a goal. The  fund deployment will start in July this year. The company has been investing in Indian startups for years  and the performance of these companies with a favorable Indian economy, and growing investor interest is the reason behind the launching of the Maiden India Fund.

They are already evaluating and  discussing with a few startups. The fund will prefer startups that have built market acceptance and  early traction, revenue-generating, parented product startups, and more than one founder startup.  This angel investment network company has investors in Singapore, India, the UK, the Middle East, the  U.S., Australia, and Latin America. The network’s portfolio includes over 22 companies across India and  Southeast Asia, and one of them is listed on the Australian Stock Exchange.

Scale AI Raised $1 Billion in a Funding Round Led by Accel

Scale AI Raised $1 Billion in a Funding Round

Scale AI is an AI data startup that has raised a $1 billion fund in a late-stage funding round led by Accel.  The startup offers data-labeling services to companies working with machine learning models. The  funding round was led by venture capital firm Accel and had participation from tech giants like Amazon,  Nvidia, and Meta.  

Scale AI has raised a total fund of $600 million in its eight-year, including the fund raised in the series  F round the startup now has a valuation of $13.8 billion. Apart from these tech giants such as Amazon  and Meta, Scale AI has attracted other new investors including Cisco, Intel, AMD, and more. Top tech  giants are rushing to embed AI into their products and services. AI startups are in demand for AI chips  and machine learning, this continuous growth of the AI sector is helping the startup to get a boost in  fundraising.  

This California-based AI data startup provides data used to train AI applications and machine learning  models. This sector got an increase in interest from investors since ChatGPT released its large language  model in 2022. Most data we find is unstructured and AI systems find it difficult to use such data and  it needs to be labeled, especially in large data sets. This is where Scale AI comes into play, this startup  provides companies with data that has been correctly labeled and annotated for training machine  learning models. A self-driving company needs labeled data from cameras to work on the system and  Natural Language Processing users need annotated text to work on. 

Scale AI has known tech giants as its clients such as Microsoft, Toyota, Meta, GM, the U.S. Department  of Defense, and OpenAI. The California-based startup is planning to use the fund to scale up operations and enhance its technology. According to a report by Techcrunch, they will use it to accelerate the  “abundance of frontier data that will pave our road to artificial general intelligence.” 

Conclusion: 

Scale AI, an AI data startup has recently raised a $1 billion fund in its late-stage funding round led by  Accel. The startup offers data-labeling services to companies working with machine learning models. This California-based AI data startup provides data used to train AI applications and machine learning  models. This sector got an increase in interest from investors since ChatGPT released its large language  model in 2022. Most data we find is unstructured and AI systems find it difficult to use such data and  it needs to be labeled, especially in large data sets.

This is where Scale AI comes into play, this startup  provides companies with data that has been correctly labeled and annotated for training machine  learning models. The funding round had participation from Amazon, Nvidia, and Meta and was led by  Accel. This AI-data startup will be using the fund to scale up operations and enhance its technology. AI  startups are in demand for AI chips and machine learning, this continuous growth of the AI sector is  helping the startup to get a boost in fundraising.

Pine Labs Gets Approval from Singapore Court to Shift Its Domicile to India

Pine Labs Gets Approval from Singapore Court to Shift Its Domicile to India

Pine Labs a Singapore-based fintech startup has secured approval from the Singapore court to move  its domicile in India. The startup’s whole undertaking including assets and liabilities needs to be  transferred and merged with its Indian company according to the agreement. After this procedure, all  shareholders of the Singapore entity will become shareholders of Pine Labs (PLI) and every pending  legal proceeding then will be continued as PLI.  

According to a report by TechCrunch, the filing mentioned that the National Company Law Tribunal  order filed with the Registar of companies, the Singapore entity shall be dissolved without any  undergoing operations under it. Pine Labs is now the third fintech company to move its domicile in  India from overseas after Phonepe and Groww. Many other fintech startups are in different stages of  moving domicile to India including KreditBee, Razorpay, Zepto, and Meesho. The approval of the  Singapore court made Pine Labs the third Indian-originated startup to shift its domicile back to India. 

Pine Labs is a leading merchant platform that provides merchants with a variety of services including cloud-connected point-of-sale machines, credits, gifting, and various products. The valuation of an company plays an important role in deciding the tax liabilities one needs to pay while shifting the  domicile. Last year, the US-based investment company, Baron Funds valuated Pine Labs’ worth to be  

$5.8 million while another investment firm, Invesco reported a $4.8 billion valuation. The startup has  been trying for an Initial public offering for the past few years but has not yet succeeded in securing it.  

The reverse flip requires a healthy amount of tax liabilities to be paid. Phonepe’s investors paid Rs  8,000 crore in taxes to complete this whole procedure of shifting domicile to India. The Peak XV  partners are backing up this fintech startup, the startup is also looking for an IPO in India after shifting  from Singapore. Even though Pine Labs has received approval to move domicile, it’s still waiting for  India’s court approval for the National Company Law tribunal. 

Conclusion: 

Pine Labs a Singapore-based fintech startup has secured approval from the Singapore court to move  its domicile to India. The startup’s whole undertaking including assets and liabilities needs to be  transferred and merged with its Indian company according to the agreement. The approval of the  Singapore court made Pine Labs the third Indian-originated startup to shift its domicile back to India. The reverse flip requires a healthy amount of tax liabilities to be paid.

Last year, the US-based  investment company, Baron Funds valuated Pine Labs’ worth to be $5.8 million while another  investment firm, Invesco reported a $4.8 billion valuation. The startup has been trying for an Initial  public offering for the past few years but has not yet succeeded in securing it. The Peak XV partners  are backing up this fintech startup, the startup is also looking for an IPO in India after shifting from  Singapore. Pine Labs is now the third fintech company to move its domicile in India from overseas after  Phonepe and Groww.

Reloy’s FY24 Revenue Rises 65% to Rs 21 Crore; Achieves Rs 1,450 Crore in Referral Sales

Reloy’s FY24 Revenue Rises 65% to Rs 21 Crore

Reloy, a proptech startup that helps builders in referrals and real estate loyalty has reported a 65%  increase in its FY24 revenue to Rs 21 crore. Founded in 2015 by Akhil Sharaf, Bela Saraf, Devesh, and  Abhay Ambo, this Mumbai-based startup brings all real estate stakeholders together and helps them  build efficient distribution. The technology used by this startup is built for the basics of real estate such  as high value, low volume, and personalized. 

This B2B2C homeowner and broker management platform helps builders manage their builders and  brokers more efficiently. The revenue for Reloy in 2022-23 stood out at Rs 12.7 crore. PTI mentioned  that the founder and CEO of Reloy, Akhil Saraf pointed out the direct relation between higher sales,  client acquisitions, and Reloy’s growth. Saraf claimed that the startup helped builders generate over  Rs 1,450 crore worth of referral sales in the last fiscal. The current fiscal goal for the company’s referral  sales is Rs 3,500 crore. HDFC Capital owns a 10% stake in the startup. So far, the company has raised  over Rs 13 crore from various investors including HDFC Capital. 

The company claimed that it offers solutions with the post-purchase journey that homeowners have  with builders and then they offer benefits across requirements of home finance and interior. The  startup has known names in the industry as clients including Godrej Properties, DLF, Mahindra  Lifespace, L&T Realty, and many more. The startup offers platforms to help homeowners with  document management, payments, and customer tracking. 

The startup has recently launched a new version of its app “Connectre 4.0”, offering builders a  seamless experience. The upgraded version allows an individual to easily navigate their homebuying  steps easily, fostering loyalty and driving referrals at every stage as a benefit. Reloy claims to be the  world’s largest homeowner loyalty and referral program platform. This startup helps real estate  companies build efficient distribution and offer referrals. 

Conclusion: 

Reloy, a proptech startup that helps builders in referrals and real estate loyalty has reported a 65%  increase in its FY24 revenue to Rs 21 crore. The startup helped builders generate over Rs 1,450 crore  worth of referral sales in the last fiscal. The current fiscal goal for the company’s referral sales is Rs  3,500 crore. HDFC Capital owns a 10% stake in the startup. The startup has recently launched a new  version of its app “Connectre 4.0”, offering builders a seamless experience.

The upgraded version  allows an individual to easily navigate their homebuying steps easily, fostering loyalty and driving referrals at every stage as a benefit. The technology used by this startup is built for the basics of real  estate such as high value, low volume, and personalized. This B2B2C homeowner and broker  management platform helps builders manage their builders and brokers more efficiently. Reloy is the  world’s largest homeowner loyalty and referral program platform. This startup helps real estate  companies build efficient distribution and offer referrals.

PNB Housing Finance Expects 17% Growth in Loan Portfolio in FY25

PNB Housing Finance Expects 17% Growth

PNB Housing Finance is an Indian housing finance company that aims to grow by 17% next fiscal year  by increasing branch networks and affordable housing loans. The finance company had previously  opened over 100 branches to expand business including the affordable loading segment. A report by  PTI mentioned that the Managing director of PNB Housing Finance, Girish Kousgi said that the  company has enough capital to achieve this target.  

The company raised capital through the right issue last year, so they don’t need capital for 2-3 years.  PNB Housing also reported a loan book of Rs 63,000 crore and is aiming to grow by 17% with a focus  on the affordable segment. In just 5 months, the affordable housing loan book reached at Rs 1,790  crore. Meanwhile, Finance’s corporate loan book saw a decrease of 46% in FY24.

After three years of  break, the company will increase corporate lending this year. Previously opened 100 branches by PNB  will also help the company to expand its business with affordable segments. PNB Housing Finance now  owns over 300 branches across the Country. During the current Fiscal year, 50 more branches will be  added to focus on the affordable loan market. 

PNB Housing Finance has assets under management of Rs 65,000 crore with Rs 2,000 crore related to  corporate lending. As the company is aiming for an affordable loan market, the PNBHFL is reported to  have plans to open 50 new branches to focus on this segment. Girish Kounsi mentioned focusing on  an emerging vertical that was started this year. In an interview with Businessline, the company  mentioned that scaling up affordable followed by emerging and prime will be the main focus area for  this year. PNBHF reported a 57.27% increase in consolidated net profit for the March  2024 quarter at ₹439.25 crore. In the December 2023 quarter, consolidated net profit stood at ₹338.44  crore. 

Conclusion: 

PNB Housing Finance aims to grow by 17% next fiscal year by increasing branch networks and  affordable housing loans. The finance company had previously opened over 100 branches to expand  business including the affordable loading segment. After three years of break, the company will  increase corporate lending this year. Previously opened 100 branches by PNB will also help the  company to expand its business with affordable segments. PNB Housing Finance now owns over 300  branches across the Country. During the current Fiscal year, 50 more branches will be added to focus  on the affordable loan market.

PNB Housing Finance has assets under management of Rs 65,000 crore  with Rs 2,000 crore related to corporate lending. As the company is aiming for an affordable loan  market, the PNBHFL is reported to have plans to open 50 new branches to focus on this segment. The company focuses on scaling up affordable followed by emerging and prime for this fiscal year. The  Managing director of PNBHF, Girish Kousgi said that the company has enough capital to  achieve this target.

KonProz Raises $700K in Funding Round Backed by RDB Group and Other Investors

KonProz Raises $700K in Funding Round

Konproz is a generative AI startup founded by Shiladitya Dash and Piyush Chopra, to use generative AI  as a responsible and indispensable tool to build SaaS solutions. The startup has recently secured $700k  in a funding round led by angel investors, Dr. Ruchi Parekh and RDB group. The startup aims to use  GenAI to build SaaS services for the legal, tax, and regulatory space.  

The amount raised during this round will be used to build Generative Artificial intelligence intellectual  solutions for the team expansion, scaling up operations to increase the performing capability of  KonProz’s platform and for the legal domain. The startup has received attention for its flagship  products, such as the first GenAi tool trained on India’s tax, legal and regulatory laws, KonProz GPT.  The KonProz platform has received over 2000 active users including senior professionals from Big4s  and Tier 1 law firms since the release of its phase 1 product in November.  

The startup is aiming to build a comprehensive suite of products. The Generative Artificial Intelligence sector is in boom these days, in the past six months, generative AI platforms have managed to secure  decent funding in their early stages. Last year, In December, Sarvam AI raised $41 million in a series A  round led by Lightspeed which was the largest funding in this sector. Followed by Ema with $25 million  and Neysa secured $20 million in the Series A round.  

This Delhi-NCR-based GenAI startup aims to make SaaS solutions to strengthen its position in the  market as a leader in the Legal AI innovative space. The founders of KonProz said that securing this  amount gave them a sense of relief and confidence as the investment highlights the confidence of  investors in the startup’s vision and potential. The funding will be used to further enhance KonProz’s  platform to set new standards for the legal and tax technology sector. The investors showed support and confidence in the immense potential of Konproz’s solutions in GenAI. 

Conclusion: 

Konproz is a generative AI startup that aims to use GenAI to build SaaS services for the legal, tax, and  regulatory space. The startup has recently secured $700k in a funding round led by angel investors, Dr.  Ruchi Parekh and RDB group. The amount raised during this round will be used to build Generative  Artificial intelligence intellectual solutions for the team expansion, scaling up operations to increase the performing capability of KonProz’s platform and for the legal domain.

The KonProz platform has  received over 2000 active users including senior professionals from Big4s and Tier 1 law firms since  the release of its phase 1 product in November. This Delhi-NCR-based GenAI startup aims to make SaaS  solutions to strengthen its position in the market as a leader in the Legal AI innovative space. The  founders of KonProz said that securing this amount gave them a sense of relief and confidence as the  investment highlights the confidence of investors in the startup’s vision and potential.

Sundaram Home Finance Reports Q4 Net Profit of Rs 57 Crore

Sundaram Home Finance Reports Q4 Net Profit

Sundaram Home Finance is a subsidiary wholly owned by Sundaram Finance. They reported a net profit  of Rs 57 crore for the fourth quarter of 2024. The headquarters registered net worth for last year Q4  was Rs 65 crore. The net profit went from Rs 216 crore in 2023 to Rs 236 crore in March 31.  

ET reported that disbursements made during this quarter went up by 20% as compared to last year.  For ending March 31, 2024, the overall DB breached the Rs 5000 crore milestone, totaling Rs 5,039  crore. The rise was 27% compared to last financial year. In comparison to last year, the AUM also went  up to Rs 13,812 crore on March 31, 2024. Managing Director of Sundaram Home Finance,  Laksgminarayan Duraiswamy said in a statement that 2024 has been a good year for the company so  far. The real estate segment with consistent demand and home buyers have driven the growth for their  new branch network, and penetration into small towns. 

The company also mentioned that the strong growth momentum in tier 1 and 2 towns in the South  and contribution from Madhya Pradesh and Rajasthan were the biggest factors for the company to  have this achievement of Rs 5,000 crore in disbursement in FY24. Last year, the company opened over  20 new branches including Kamareddy, Sathupalli, Kompally, and Sangareddy in Telangana,  Rajapalayam, Marthandam, and Tiruppur in TN, Jodhpur, Ajmer and spreading the overall network to  150 across the country. They hired over 400+ employees in FY24 and focused on the continuous  expansion in the market.  

Sundaram is focusing on going deeper into small towns and exploring tier-4 towns in South India.  They are expecting these new locations to expand more. According to a report by ET, the company has  opened over 30 exclusive SBL branches in Tamil Nadu with disbursements of more than Rs 125 crore.  The company is registered with the Reserve Bank of India and is a prominent member of the TSF group. 

Conclusion: 

Sundaram Home Finance is a subsidiary wholly owned by Sundaram Finance. They reported a net profit  of Rs 57 crore for the fourth quarter of 2024. The headquarters registered net worth for last year Q4  was Rs 65 crore. The company is focusing on going deeper into small towns and exploring tier-4 cities  in South India. Disbursements made during this quarter went up by 20% as compared to last year. For ending March 31, 2024, the overall DB breached the Rs 5000 crore milestone, totaling Rs 5,039 crore. 

The rise was 27% compared to last financial year. In comparison to last year, the AUM also went up to  Rs 13,812 crore on March 31, 2024. The rise was 27% compared to last financial year. Last year, the  company opened over 20 new branches including Kamareddy, Sathupalli, Kompally, and Sangareddy  in Telangana, Rajapalayam, Marthandam, and Tiruppur in TN, Jodhpur, Ajmer and spreading the overall  network to 150 across the country. For the year ending March 2024, the net profit rose from Rs 216  crore in 2023 to Rs 236 crore.

Indian Startups Raise Over $122 Million This Week, Led by Propelld and Red.Health

Indian Startups Raise Over $122 Million This Week,

21 deals were made by Indian startups from 13th May to 18th May. The amount raised from these deals  was more than $122 million in funding this week. The numbers in funding amount went down by 45%  in comparison to last week’s report. Funding activity in the world’s third-largest ecosystem saw a  decline for a second consecutive week in May, as the number went from last week’s $220 million to  $122 million in the same number of deals.  

Fintech startups lead the list this week with the total funding amount gained by startups in this sector reported to be $33.1 million across three deals. Propelled secured the biggest amounts, Buoyed by its  $25 million fundraising dominated the funding trend in this sector. Propelld provides education loans  to those who want to borrow money via online channels. The startup is working to enhance its  platform, scale up its existing segments, and expand in the fintech sector. The startup raised funding  of $25 million from Credit Saison India, AU Small Finance Bank, InCred Financial Services, and Northern  Arc Capital. 

The seed funding sector saw a decline in funding again, as it went down from last week’s $8.4 million  to $3.5 million. A 58% decline in fundraising was seen in this sector. Propelld and Red.health topped  the list this week. Red. health is the only healthcare-related startup on the list. Ambulance service  provider and healthcare Platform Red. health has raised a total of $20 million in a series B round led  by Jungle Ventures. This Hyderabad-based startup also got investments from Alteria Captial and its  existing investors HealthQuad and HealthX. With the funding amount from the series B round, the  startup has now raised a total of $43 million since its inception in 2016. 

Most of these startups were from fintech and SaaS followed by deep tech, logistic, cleantech, and agritech Startups like Ecozen. The list further extends to other sectors such as e-commerce Real estate tech startups, and more. On a weekly basis, startups had a marginal 45% drop as compared to the  previous week, as it went from $320 million to $122 million. 

Conclusion: 

21 deals were made by Indian startups from 13th May to 18th May securing over $122 million in  funding amount. Propelled secured the biggest amounts, Buoyed by its $25 million fundraising dominated the funding trend in this sector. Other notable investments include Red. health has raised  a total of $20 million in a series B round led by Jungle Ventures this week. Most of these startups were  from fintech and SaaS followed by deep tech.

The list further extends to other sectors such as e commerce Real estate tech startups, and more. On a weekly basis, startups had a marginal 45% drop  as compared to the previous week, as it went from $320 million to $122 million. Funding activity in  the world’s third-largest ecosystem saw a decline for a second consecutive week in May, as the number  went from last week’s $220 million to $122 million in the same number of deals.

OYO to Refile IPO Papers After Securing $450 Million to Refinance Loan

OYO to Refile IPO Papers

Oyo, a travel tech company is currently preparing to refile IPO papers for a refinancing loan as it is nearing finalization rounds. The company was said to be looking to raise up to $450 million through its  sale of dollar bonds. The financing round is expected to be led by JP Morgan. According to a report by  PTI, the bond is expected to carry a 9 to 10% interest rate per year. 

The company is already planning to refile an updated version of DRHP after the completion of bond  insurance. Oyo has already submitted the documents to withdraw its current draft red herring  Prospectus with the market’s regulator SEBI. The refinancing will surely make material changes to  OYO’s financial statements. Therefore, as per the existing rules of SEBI, it will need to revise its filings  with its regulator.

The company is aiming for $350-$450 million through bond insurance at an  estimated interest rate of up to 10%. According to Social News XYZ, the refinancing will result in annual  interest savings of $8 to $10 million in its first year, after accounting costs associated with bond  insurance. The company is estimating its annual savings to be around $15 TO $17 million.  

The company mentioned that the decision for refinancing is at an advanced stage so they are pursuing  the revised financial plan, as the IPO approval with the current one does not make any sense. Some  reports also mentioned the time of the whole refinancing process extending the repayment time to  five years from 2026, which will be completed in the next three months. According to a report by PTI,  an individual close to this whole IPO plans of the company said that the refinancing is predicted to  have annual interestsavings of $ 10 million in the first year after accounting costs associated with bond  insurance.

Before the post-refinancing round, the company will be open for an equity round to get  investors’ confidence before public listing to gain financial strength. In 2021, OYO filed preliminary  documents with the Securities and Exchange Board of Indi for Rs 8,430 crore IPO. The IPO launching  was delayed due to market conditions, as the company had to settle for a lower valuation of $4 to $6  billion instead of a predicted valuation of $11 billion.  

Conclusion: 

A travel tech company, OYO is currently in preparation to refile IPO papers for a refinancing loan as it  is nearing finalization rounds. The company was said to be looking to raise up to $450 million through  its sale of dollar bonds. The financing round is expected to be led by JP Morgan. According to a report  by PTI, the bond is expected to carry a 9 to 10% interest rate per year.

IPO plans of the company said that the refinancing is predicted to have annual interest savings of $ 10 million in the first year after accounting costs associated with bond insurance. Before the post-refinancing round, OYO will  be open for an equity round to get investors’ confidence before public listing to gain financial strength.

Delhivery Reports Reduced Q4 Net Loss of Rs 68 Crore in FY24

Delhivery Reports Reduced Q4 Net Loss of Rs 68 Crore

Delhivery, a Gurugram-based logistic startup has reported its net loss narrowed to Rs 68 crore in the  fourth quarter. The company previously had a loss of Rs 159 crore but the total income of the company increased from Rs 1,934.2 to Rs 2,194.5 crore. The company helps sellers and buyers have safe delivery  experiences across India.  

The company’s net loss for the full year declined to Rs 1,007 crore from Rs 259.2 crore. The CEO and  managing director of Delhivery, Sahil Baura said that this year was very crucial for the team. The  company has delivered consistent service levels, improved profitability, and completed more than half  of the planned long-term capital investments. Delhivery has achieved the working capital  improvement, he added. The startup also saw an increase in Express Parcels shipment by 11% as it  went to 740 million from 663 million in FY23. The company offers real-time monitoring updates about  the delivery of products.  

The incorporation of a wholly-owned subsidiary for manufacturing drones and shipment of goods  through air transport services has been approved by the board. The company covers over 19,000 pin  codes in India. This Gurugram-based startup is planning to scale up its operations, enhancing its technologies and research centers. The company aims to build operating systems for commerce,  through a combination of world-class infrastructure, and logistics operations of the highest quality  using its best-in-class cutting-edge engineering and technology. Delhivery calculates the volumetric  weight and compares it with the actual weight before deciding the fees, so these aspects directly  influence the shipment cost. 

Delhivery has known clients in this industry including Softbank Group International, Bharti Airtel Ltd.,  OYO, IndusInd Bank, and more. Delhivery is India’s largest Fully integrated logistic provider, It uses cutting-edge technology and engineering to offer the best services to its clients and customers.  Delhivery is focusing on expanding its services through its innovative technology. The company also offers solutions backed by advanced analytics and is focused on enhancing customer experiences through cost reduction and asset productivity. The platform helps an individual to connect over  services to track their package across India.

Conclusion: 

Delhivery reported a narrowed net loss to Rs 68 crore. Delhivery has known clients in this industry  including Softbank Group International, Bharti Airtel Ltd., OYO, IndusInd Bank, and more. The  incorporation of a wholly-owned subsidiary for manufacturing drones and shipment of goods through  air transport services has been approved by the board. Delhivery is focusing on expanding its services  through its innovative technology. This Gurugram-based startup is planning to scale up its operations,  enhancing its technologies and research centers.

The company aims to build operating systems for  commerce, through a combination of world-class infrastructure, and logistics operations of the highest  quality using its best-in-class cutting-edge engineering and technology. The company offers a platform  that has thousands of vehicles, storage facilities, hyperlocal riders, and various distribution centers  across India. The company also offers solutions backed by advanced analytics and is focused on  enhancing customer experiences through cost reduction and asset productivity. The platform helps an  individual to connect over services to track their package across India.

3SC Secured $4 Million in Funding to Accelerate AI-Powered Logistics Solutions

3SC Secured $4 Million in Funding

3SC, a Delhi-NCR-based logistic startup has raised $4 million in funding to increase its AI capabilities. The startup raised $4 million from its existing investor, GEF Capital’s South Asia Growth Fund. This  logistic startup will be using this fresh fund to boost and enhance its existing artificial intelligence technology. The startup focuses on scaling up its operations and going global. 

The startup previously raised $12 million in its series B funding round led by GEF Capital’s South Asia  Fund in 2021. The funding just came at a time when India’s logistic sector is predicted to reach $35.86  million this year and grow a CAGR of 3% by 2028 to $40.35 billion. The startup is aiming to enhance its  AI-Bases SAAS services with the US and Europe as its primary market reach. Founded in 2012 by Lalit  Das and Sarita Das, 3SC offers supply chain analysis and logistic services to companies in the  healthcare, e-commerce, FMCG, and industrial sectors. The startup provides solutions in distribution,  planning, AI, and 4PL.  

The co-founder of 3SC, Sarita Das said that the aim of 3SC is to expand their operations globally and  focus on enhancing SaaS services. The investment will help the startup grow and strengthen itsservices  and platform while offering greater value to its clients and investors. The existing investor of 3SC, GEF Capital showed their confidence in the innovative solutions and potential of 3SC. The managing partner of GEF Capital, Raj Pai mentioned that they will be assisting the startup in their growth and  expansion journey. The confidence of investors in 3SC shows the potential of startups.  

This Delhi-based startup is planning to utilize this fund to scale up its operations, enhancing its technologies and research centers. 3SC provides an all-in-one platform that allows an individual to  build and track an ultra-modern solution that drives profitability and improves efficiency. The startup  offers solutions backed by advanced analytics and is focused on enhancing customer experiences  through cost reduction and asset productivity. 3SC is also a supply chain solution provider, the startup  offers end-to-end cold-chain solutions. 3SC will be using this fund to expand its market reach and  enhance its devices. The company is also working on improving its supply chain solutions.

Conclusion: 

3SC, a Delhi-NCR-based logistic startup has raised $4 million in funding to increase its AI capabilities. The startup raised this funding amount of $4 million from its existing investor, GEF Capital’s South Asia  Growth Fund. The startup is aiming to enhance its AI-Bases SAAS services with the US and Europe as  its primary market reach. 3SC offers supply chain analysis and logistic services to healthcare, e commerce, FMCG, and industrial companies.

The startup provides solutions in distribution, planning,  AI, and 4PL. The investment will help the startup grow and strengthen its services and platform while offering greater value to its clients and investors. This Delhi-based startup is planning to utilize this  fund to scale up its operations, enhancing its technologies and research centers.