Cooking paste brand CURRYiT secured Rs 4.5 crore in a seed round co-led by RK Family Trust, Tangent Advisors, and Freeflow Ventures. The funds will be used to scale operations, enhance marketing, and strengthen distribution channels. Founded in 2020, CURRYiT aims for significant growth in the ready-to-cook market.
Sauce VC, a consumer-focused early-stage venture capital firm, closed its third fund at Rs 365 crore ($43.6 million). The oversubscribed fund attracted investments from prominent names like Infosys co-founder Kris Gopalakrishnan’s Pratithi Investments and Marico’s Harsh Mariwala. Sauce VC invests in new-age consumer brands and has funded 21 companies since 2019.
Mohalla Tech, parent of ShareChat and Moj, expanded its debt round to $65 million with an additional $16 million from Singapore-based EDBI. Earlier, it raised $49 million from existing investors. The funds will enhance their tech stack and consumer transactions. ShareChat laid off 5% of its workforce recently and faced a significant valuation drop to under $2 billion. The company spent Rs 4,000 crore to earn Rs 533 crore in FY23, recording a Rs 3,241 crore loss.
Wealth and asset management company Neo raised Rs 220 crore ($26.5 million) in a Series B round led by Crystal Investment. The round included contributions from Mufg Bank and investor Deepak Agarwal. Neo, valued at $231 million post-allotment, has raised $104 million to date, offering investment solutions to high-net-worth individuals.
Logistics company Delhivery reported notable profits in Q1 FY25, with operating revenue rising 4.6% to Rs 2,172 crore from Rs 2,076 crore in Q4 FY24. The company’s total income reached Rs 2,282 crore, while cost management and scale growth helped it achieve a Rs 52 crore profit, reversing a Rs 68 crore loss in Q4 FY24.
Education-focused NBFC Auxilo posted a two-fold revenue growth to Rs 356.68 crore in FY24 from Rs 178 crore in FY23. The majority of its revenue, 94.8%, came from processing fees and interest on loan disbursements, which surged 94.5% to Rs 338.2 crore.
Fintech firm Infibeam Avenues saw a 3.6% revenue increase to Rs 753 crore and a 43% profit spike to Rs 70 crore in Q1 FY25. The payment business contributed 93.6% of total revenue. Operating expenses remained flat, aiding profit growth. Infibeam also acquired a 54% stake in Rediff.com.
Ixigo’s revenue from operations rose 10.3% to Rs 181.88 crore in Q1 FY25, up from Rs 164.85 crore in Q4 FY24. The company’s profit more than doubled to Rs 14.85 crore. Train ticketing accounted for 55.23% of revenue, while expenses increased by 10.3%.
Zomato reported an 18.1% revenue increase to Rs 4,206 crore and a 44.6% profit growth in Q1 FY25. The food delivery segment contributed Rs 1,942 crore, while B2B supplies and quick commerce added Rs 1,212 crore and Rs 942 crore. Overall expenditure rose to Rs 4,203 crore.
Scimplify, a B2B platform for specialty chemicals, raised Rs 59 crore ($7 million) in its Series A round led by Omnivore, with participation from 3One4 Capital, Beenext Asia, and Bertelsmann. The funds will support its operations from contract research to commercial chemical manufacturing across various industries.
