Tag: investment

Landeed Secures $5 Million in Funding from Y Combinator
Landeed Secures $5 Million in Series X Funding
Property title search engine platform Landeed has successfully raised $5 million in its Series X funding round, which was led by 10x Founders Fund. Notable contributors included Oliver Jung, Paradigm Shift, Pioneer Fund, Jeffrey Epstein, the founder of Onboard, and Aaron King, the founder of Snapdocs.
In June of the previous year, Landeed achieved an undisclosed amount in a strategic financing round headed by Paradigm Shift VC. Earlier in January 2023, Landeed raised $8.3 million in a seed round led by Y Combinator, Draper Associates, and Bayhouse Capital.
The new capital will be directed towards enhancing the company’s AI and machine learning (AI/ML) capabilities.
About Landeed
Founded in 2022 by Sanjay Mandava, ZJ Lin, and Jonathan Richards, Landeed simplifies the property title search process for users, allowing them to acquire land documents for a minimal fee. The platform streamlines various search methods and aggregates all necessary information required by landowners or buyers, ensuring that every detail regarding a property is adequately addressed.
Key Features of the Platform
- Immediate access to crucial data points, including Sale Deeds and Encumbrance Certificates, ensuring properties are clear of legal or financial disputes.
- Claims to provide results up to 10 times faster than conventional methods for an affordable fee.
Growth and Impact
Landeed boasts over 5 million downloads and operates in 24 states. The platform has reported a remarkable 22 times growth in critical financial metrics, with over 100,000 property owners, bankers, agents, and real estate developers actively using its services to buy, sell, process loans, and develop real estate.
January 23, 2025
Avendus Secures ₹850 Crore in Initial Close for Future Leaders Fund III
Avendus announced on Thursday that its Future Leaders Fund III (FLF III) has successfully achieved its initial close, obtaining commitments of Rs 850 crore. The fund has a target to raise Rs 1,500 crore, with an additional green shoe option set at Rs 1,500 crore. The intention is to invest in approximately 12 to 14 startups, with an average investment size ranging from Rs 150 crore to Rs 300 crore.
In May of the previous year, Avendus aimed to amass a corpus of Rs 3,000 crore for FLF III, with an average investment size also stated as Rs 200-300 crore. However, the latest announcement reflects a revised target of Rs 1,500 crore.
The FLF III fund intends to focus its investments on key sectors, including:
– Financial services
– Healthcare
– Technology
– Consumer goods
– Manufacturing
Currently, the fund is finalising its inaugural investment in the healthcare sector.
Notably, Avendus’ portfolio companies from FLF I and FLF II feature prominent names such as the omnichannel eyewear brand Lenskart, the Indian snacks company Bikaji, and the mobile payments platform Juspay. Furthermore, it has been reported that the SoftBank-backed startup Juspay is in discussions to secure new funding, potentially making it the first unicorn of 2025, as highlighted by StartupSuperb in an exclusive report.
Additionally, Avendus indicated that FLF I has returned over 100% of investor capital within four years, while FLF II has recently completed its deployment. This announcement coincides with a surge of venture capital firms launching new funds aimed at investing in the next wave of startups, as the Indian IPO market continues to thrive. Recently, companies such as Urban Clap, manufacturing firm Zetwork, and fintech platform Groww have shown interest in going public in the near future.
January 16, 2025
“Transformative Growth: Indian Startups Secured $131 Billion in Just Nine Years”
Over the past nine years, the Indian startup ecosystem has achieved significant progress, establishing itself as the third-largest ecosystem globally. This transformation began with the Startup India initiative, launched on January 16, 2016, which focuses on shifting India from being a nation of job seekers to one of job creators. According to YourStory Research, Indian startups have raised approximately $131 billion in funding, positioning the country as an innovation leader.
Since 2016, Indian startups have consistently attracted over $10 billion in funding annually. In 2016, total funding reached $3.8 billion, which saw a remarkable increase to $13.5 billion in 2017. This surge was primarily driven by SoftBank’s substantial investments in companies such as Flipkart, Ola, Paytm, and OYO, among others.
Another notable development in the past nine years is the surge in the number of investments. Since 2021, the yearly average number of deals has exceeded 1,000, an improvement from the previous four years, which averaged around 800 deals annually.
The funding landscape for Indian startups has experienced fluctuations. The peak funding reached $32 billion in 2021 but never dipped below $10 billion, with the exception of 2020, when the pandemic caused a decline to $9.9 billion.
Data from the Department for Promotion of Industry and Internal Trade (DPIIT) indicates that the number of recognised startups has surpassed 100,000. In 2016, there were 30,000 recognised startups, which grew to 125,000 as of March 31, 2024.
Although the presence of startups is primarily concentrated in the major metropolitan areas, their influence has expanded to Tier II and III cities. According to DPIIT, more than 670 districts across the nation host at least one startup.
The Startup India portal reports that this thriving ecosystem has generated over 1.24 million jobs. Additionally, the Indian government has initiated funding schemes to bolster startups, with the Fund of Funds Scheme, managed by SIDBI, being a key example. This scheme has allocated Rs 10,805 crore to alternate investment funds (AIFs), which subsequently invested Rs 18,000 crore into 1,030 startups.
Throughout the past nine years, the Indian startup ecosystem has witnessed the emergence of over 100 unicorns, defined as startups valued at $1 billion and above. However, momentum within the ecosystem has slowed over the past year.
Nevertheless, this setback has been compensated by another significant milestone, as many startups transitioned to publicly listed companies. The year witnessed 13 startups being listed on the Indian stock exchanges.
January 16, 2025
Cornerstone Ventures Secures $40M in First Round for New Fundraiser
Cornerstone Ventures, a venture capital firm specialising in early-stage investments within the SaaS sector, announced on Wednesday that it has successfully raised $40 million during the first close of its second fund, which aims to reach a total of $200 million. As detailed in a statement, this initial close garnered contributions from family offices, high-net-worth individuals, and various institutions. Cornerstone Ventures first revealed the launch of its second fund in April 2024, having initiated its inaugural fund of $50 million in 2019.
Abhishek Prasad, Managing Partner of Cornerstone Ventures, expressed that the firm is now better positioned to assist its portfolio companies in navigating their paths to growth while achieving significant impact across various industries. The Managing Partners of Cornerstone Ventures are Rajiv Vaishnav and Abhishek Prasad.
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Also Read: Why enterprise SaaS is at the core of Cornerstone Ventures’ investment strategy.
According to the venture capital fund, it has completed investments from its first fund across several startups, such as NRT, Blubirch, Mystifly, and Olive Gaea. Additionally, it has achieved successful exits from companies like Wigzo and Intelligence Node, among others. The early-stage VC typically invests between $2 million and $3 million in each startup, with plans to elevate this amount to between $5 million and $7 million through the second fund. The deployment process for this fund is anticipated to commence this quarter.
Cornerstone Ventures aims to invest in a diverse range of sectors through its second fund, including:
– Financial Services and Insurance
– Retail
– Consumer Goods and E-commerce
– Distribution and Supply Chain
– Healthcare Products and Services
Moreover, the fund will support technology innovations that are not limited to specific sectors.
The firm also announced the addition of Suresh Pareek as a General Partner. He is the founder of Sukvi Ventures and co-founder of Elephant Canvas LLP, a digital fine art NFT marketplace operating as NewartX. Pareek expressed enthusiasm for collaborating with a dynamic team at Cornerstone Ventures, focusing on ventures that emphasise innovation, resilience, and the creation of long-term value.
January 16, 2025
Foxtale Secures $30 Million to Fuel Growth in the Direct-to-Consumer Skincare Market
D2C skincare brand Foxtale has successfully secured $30 million in its Series C funding round from KOSÉ Corporation, alongside current investors Panthera Growth Partners, Z47, and Kae Capital. The Mumbai-based company has formed a strategic alliance with the Japanese multinational firm KOSÉ Corporation, renowned for its cosmetics, beauty, and personal care products. This collaboration will see KOSÉ Corporation leverage Foxtale’s expertise in direct-to-consumer strategies and the Indian marketplace, while Foxtale will integrate KOSÉ’s cutting-edge technological capabilities in research and development for product innovation.
Kazutoshi Kobayashi, President and CEO of KOSÉ Corporation expressed satisfaction at the conclusion of a capital and strategic partnership with the rapidly growing Foxtale in the premium mass skincare sector, coinciding with the 10th anniversary of KOSÉ’s entry into the Indian market. He remarked that through this partnership, they will advance into the next decade with the aim of establishing a more significant presence in the Indian market and expanding their business.
The company intends to utilise this latest capital injection to reinforce its footprint in existing markets and boost its research and development efforts. Romita Mazumdar, Founder of Foxtale, highlighted that the funding from KOSÉ Corporation would facilitate faster scaling, deeper innovation, and the delivery of effective and accessible skincare solutions to a broader audience across India. She noted that beyond growth, this partnership represents a step towards fostering stronger global relationships, marrying international expertise with local insights.
Established in 2021, Foxtale has experienced more than a twofold growth in FY25 and is on track to achieve profitability by the end of the upcoming financial year. The company is in competition with other D2C brands such as Conscious Chemist, Dot & Key, and Aqualogica, in addition to established brands from legacy FMCG players.
January 16, 2025
Ecozen Secures $23 Million in Debt Financing to Accelerate Product Development
Agriculture and climate technology startup Ecozen has successfully secured over $23 million in debt financing aimed at expanding its current product offerings. This funding round attracted support from impact investors such as responsAbility Investments AG, Northern Arc Capital Limited, and Maanaveeya Development & Finance Private Limited. The CEO and Co-founder of Ecozen, Devendra Gupta, indicated that this financial boost would allow the company to reach a broader audience, enhance its operations, and amplify its impact both in India and globally.
Founded in 2010 and based in Pune, Ecozen focuses on cutting-edge technological solutions for agriculture, including solar-powered irrigation systems and cold storage facilities. The company stated that its flagship products, Ecotron and Ecofrost, significantly enhance productivity and minimise post-harvest losses, benefiting over a million farmers.
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Also Read: Ecozen plans to raise $75M to fuel growth, increase market presence.
Last year, Ecozen reported a remarkable 57.2% increase in annual revenue, reaching Rs 464.45 crore, compared to Rs 295.50 crore in 2023. This growth was driven by heightened demand for its products, Ecotron and Ecofrost. The company, known for its solar-powered systems, experienced a 54.8% surge in product sales, amounting to Rs 377.14 crore. Furthermore, revenue from service sales rose to Rs 81.31 crore, up from Rs 49.74 crore in the previous year.
Ecozen recorded a notable 250% increase in profit for this period, reaching Rs 20.19 crore, compared to Rs 5.77 crore the previous year. Gouri Sankar, the Managing Director of Maanaveeya Development & Finance Private Limited, emphasised the impact of the past four decades by stating that Maanaveeya has continually supported businesses that promote social change and economic empowerment, with Ecozen representing the potential of innovative technology to address critical real-world challenges.
January 16, 2025
Stoke Soars with $260 Million Funding for Reusable Rocket Development
Stoke Space, an alumnus of Y Combinator, has successfully secured $260 million in Series C funding, increasing its total funds raised to $480 million. This follows its fundraising of $100 million in October 2023 and $75 million in December 2021.
Established in 2019 by Andy Lapsa and Tom Feldman, both of whom previously worked at Blue Origin, the company aims to revolutionise space travel. Tom Feldman began his career as an intern at SpaceX. Stoke participated in the Winter 2021 Y Combinator cohort.
With a mission to create the first fully reusable rocket—encompassing both the booster and the second stage—the startup has shared video evidence of a successful test involving its first-stage rocket engine last month. The newly acquired funds will be instrumental in constructing their new facilities at the historic Cape Canaveral Space Force Station in Florida.
This fundraising round attracted notable investors such as Breakthrough Energy Ventures, Glade Brook Capital Partners, Industrious Ventures, Point72 Ventures, Seven Seven Six, and Y Combinator, among others.
January 16, 2025
Zypp Electric Raises ₹55.4 Crore in Current Series C Funding Round
Gurugram-based technology-driven EV-as-a-service platform Zypp Electric is in the process of raising Rs 55.4 crore ($6.5 million) from 16 investors, as part of its ongoing Series C funding round. Company records with the Registrar of Companies (ROC) reveal that a special resolution was passed to issue 564 Series C2 compulsory convertible preference shares (CCPS) with a face value of Rs 10 each, at a premium of Rs 9,82,995.38. The valuation of the company is projected to be between $335-350 million following this funding round. This development was initially reported by Entrackr.
A total of 16 investors, including notable names such as Kapil Kriplani, Narinder Bajaj, Neeraj Goel, and Samir Goenka, are set to contribute to this investment.
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Also Read: Bengaluru EV maker Oben Electric secures Rs 50 crore in Series A funding to enhance operations.
In May 2024, the company commenced its Series C round, successfully raising $15 million, which was led by the prominent Japanese firm ENEOS. This round also attracted interest from existing investors including 9unicorns, IAN Fund, Venture Catalysts, WFC, among others.
Founded in 2017, the company has established key partnerships with major players such as BigBasket, Zepto, Flipkart, Myntra, Zomato, Swiggy, Blinkit, Uber, Porter, Rapido, 1MG, Delhivery, and Blue Dart.
January 16, 2025
Colossal Biosciences Secures $200M Funding to Revive Woolly Mammoths, Achieving a $10.2B Valuation
Colossal Biosciences, renowned for its mission to revive the woolly mammoth along with two other extinct species, has successfully secured a $200 million Series C funding round, achieving a remarkable valuation of $10.2 billion. This investment comes from TWG Global, the firm owned by Guggenheim Partners co-founder Mark Walter, in addition to billionaire Thomas Tull. Notably, this funding arrives two years after the company concluded its previous funding round at a reported valuation of $1.5 billion.
There is interest in understanding why investors have injected such substantial capital into a company that has yet to report any revenue and whose key projects, namely the revival of the mammoth and the Tasmanian tiger, are anticipated to reach fruition no earlier than 2028.
Colossal Biosciences’ co-founder and CEO mentioned that the investor base has expressed significant admiration for the rapid development of new technologies by the company.
The firm asserts it has achieved remarkable advancements in its three key initiatives: the mammoth, the Tasmanian tiger (thylacine), and the dodo bird. Colossal is reportedly on track to meet or exceed its timeline for resurrecting these species.
Colossal’s methodology for reviving extinct species involves thoroughly mapping the genome of each species and contrasting it with that of its nearest living relative. For the mammoth, this relative is the Asian elephant. According to the CEO, the genomic mapping phase has been successfully finalised for both the mammoth and the thylacine. Subsequently, the company’s scientists are now utilising the gene-editing tool CRISPR to modify the cells of the Asian elephant. In the concluding phase, these altered cells will be injected into an egg cell, and the resulting embryo will be implanted into an elephant, leading to the birth of a baby mammoth.
To realise its objectives, Colossal has been developing various innovative technologies, including artificial wombs, which are expected to play a pivotal role in birthing future generations of “de-extinct” animals.
The CEO stated that some of these technologies could have transformative implications for healthcare, agricultural technology, and various other sectors.
While Colossal Biosciences aims to rejuvenate extinct species and improve biodiversity, the primary appeal for investors likely resides in the vast potential of its technologies.
Over the next two years, Colossal plans to spin off three businesses, one of which will focus on its artificial womb technology, potentially benefiting fertility treatments.
The company has already established two spinoff ventures: One of these, named Breaking, is dedicated to developing solutions for plastic degradation and successfully acquired $10.5 million in seed funding. The other is Form Bio, a computational biology platform, which raised $30 million in funding.
Collaborations with government entities represent another potential revenue stream. While Colossal provides its conservation technologies to governments free of charge, some nations have requested assistance from Colossal in efforts to conserve endangered species. Additionally, certain governments are exploring de-extinction initiatives for animals of cultural and, at times, spiritual significance to their populations.
Should Colossal succeed in reviving and reintroducing any of the species back into their natural habitats, the company expects to earn revenue through biodiversity credits, akin to carbon credits in market value.
The CEO asserted that the company’s three projected revenue streams—technology, government collaboration, and biodiversity credits—have the potential to generate billions in annual recurring revenue, showcasing the economic prospects in the short, mid, and long term for the company.
January 15, 2025
Skor Technologies Secures $6.2 Million in Pre-Series A Funding Round
Skor Technologies, the parent organisation of Indonesia-centric Skorlife and the newly introduced Skorcard credit card, has successfully raised $6.2 million in its pre-Series A funding round, which was led by Argor Capital, a venture capital firm focused on Southeast Asia. This round also included contributions from existing investors such as QED Investors and Saison Capital, alongside a new investor, the Digital Currency Group.
Ongki Kurniawan, Co-founder and CEO of Skor Technologies, highlighted the following:
– Indonesia represents a market that is constrained in terms of supply for credit-line products.
– The current landscape presents an opportune moment to address the rising demand among consumers, beginning with a digital-first credit card solution.
– There is potential to cultivate a customer base of two million cardholders.
– Working in collaboration with their banking partners, there is a strong commitment to realise this vision.
The company has established a strategic partnership with Bank Mayapada International to create a Banking as a Service (BaaS) platform that aims to open up new growth avenues.
By focusing on credit card-related challenges, Skor Technologies intends to utilise this funding to address the underdeveloped consumer credit market in Indonesia.
Sid Pisharody, Partner at Argor Capital, has acknowledged the significant growth potential in Indonesia’s consumer credit sector.
Previously, in May 2023, the company raised $4 million. In March 2024, it launched the “digital-first credit card”, Skorcard, in collaboration with Bank Mayapada International, reinforcing Skorcard’s value proposition.
Skor Technologies has set an ambitious target to achieve over $100 million in transaction volume by 2025. With its platforms, Skorcard and Skorlife, the company is dedicated to enabling users to gain control over their credit and overall financial health.
January 15, 2025