Fintech unicorn Yubi has added 22,00,000 employee stock options (ESOPs), increasing its total ESOP pool to 60,08,920 options. The additions include 11,00,000 options to the existing 2022 plan and a new 2024 ESOP plan with another 11,00,000 options, worth approximately $26 million.
Emami is set to acquire a 100% stake in men’s grooming brand The Man Company for around Rs 400 crore. This marks Emami’s first complete acquisition in the D2C space. Emami already held over 50% of The Man Company as of July 2022.
White Plains, NY-based medical robotics company Clarapath raised $36 million in Series B-1 funding led by Northwell Ventures, with participation from CU Healthcare Innovation Fund, Mayo Clinic, and Ochsner Ventures. The funds will accelerate the commercialization of SectionStar™, expand sales and service, enhance precision manufacturing, and continue R&D efforts.
Finance Minister Nirmala Sitharaman’s Union Budget 2024-25 includes significant provisions for startups and MSMEs:
Unimech Aerospace raised Rs 250 crore ($30 million) from Steadview Capital, ValueQuest Scale Fund, and Evolvence India Fund. The funds will support organic and inorganic growth. The Bengaluru-based aerospace manufacturer, led by Anil Puthan, plans to go public, targeting a revenue of Rs 200 crore by FY24.
Seafood supply chain firm Captain Fresh acquired Poland’s Koral, a branded salmon products producer, from Abris Capital Partners and founder Boguslaw Kowalski. The deal awaits regulatory approvals. This follows Captain Fresh’s acquisitions of CenSea and Senecrus. Launched in 2020, Captain Fresh is backed by investors like Tiger Global, having raised $165 million to date.
Pneucons, a B2B industrial marketplace startup, closed its pre-series investment round with participation from Ather Energy’s Tarun Mehta. The funds will expand the team and boost cross-border transactions in engineering sectors. Founded in 2022, Pneucons has a presence in 42 countries and serves major clients like Indian Railways and ISRO.
B2B food and agritech platform Waycool targets operational break-even in FY24, with claimed revenues of Rs 1,600 crore. The company’s FY23 revenue grew by 62% to Rs 1,251 crore from Rs 772 crore in FY22, driven primarily by sales of goods, with additional income from commissions and interest.
Early-stage venture capital fund FAAD Capital invested $121,000 in four agritech startups—Godaam Innovations, VedaFit Foods, Aqin Biotech, and Mkelly Biotech—as part of their AgriManch accelerator program. FAAD will also provide post-funding support to enhance revenue generation and networking within the agriculture sector.
Qatar Investment Authority (QIA), a key backer of Byju’s, has approached the Karnataka High Court to prevent founder Byju Raveendran from selling, pledging, or transferring assets. QIA seeks to claim Raveendran’s personal assets up to $235.19 million and demands disclosure of his personal assets. This move coincides with Byju’s ongoing insolvency issues and legal battles over a $1.2 billion loan.
