Fintech startup IppoPay raised an undisclosed amount from Mithun Sacheti, Founder of CaratLane, and Siddhartha Sacheti, CEO of Jaipur Gems. The Chennai-based firm plans to use the funds to build a sustainable fintech platform for MSMEs, focusing on payment aggregation, UPI payments, and expanding its presence in southern India.
BrainBees Solutions Limited, the parent company of FirstCry, allocated Rs 1,886 crore ($227 million) in shares to 71 anchor investors before its IPO. Key investors include SBI, Fidelity, and Goldman Sachs. The public offering runs from August 6-8 with a price band of Rs 440-465 per share.
Unicommerce, an e-commerce SaaS platform, has allocated Rs 124.4 crore ($15 million) in shares to anchor investors ahead of its IPO. Major investors include SBI, ICICI, and Morgan Stanley. The public offering, priced at Rs 102-108 per share, runs from August 6-8. Unicommerce reported Rs 103.5 crore revenue in FY24.
Chicago-based Intellias has acquired NorthLink Digital, a UK IT consultancy specializing in financial services and insurance. The acquisition aims to enhance Intellias’ offerings in EMEA. NorthLink, led by Graham Orrell, provides web and app development, digital design, and cybersecurity. This marks Intellias’ second acquisition in 2024.
Unacademy will not provide appraisals in 2024 due to unmet growth goals, CEO Gaurav Munjal announced at a virtual town hall. Despite a low burn rate and extended runway, the company faces challenges, including recent layoffs and restructuring efforts. Munjal emphasized the firm’s resilience amidst industry downturns.
Swiggy Instamart has named Sairam Krishnamurthy as senior vice president and chief operating officer. With over 18 years of experience, Krishnamurthy will oversee dark store operations, infrastructure, and city growth. Previously, he held leadership roles at More Retail, Ola Mobility, and Hindustan Unilever Limited.
Neobanking platform Jupiter has expanded its employee stock option plan (ESOP) pool by Rs 40 crore (approximately $5 million). The issuance of 21,665 ESOP options priced at Rs 18,826.29 each increases Jupiter’s total ESOP pool to 7.89% of its share capital. This move aligns with Jupiter’s product portfolio expansion and recent strategic funding efforts.
Agrizy, a B2B agri-processing platform, raised $9.8 million in a Series A round co-led by Accion and Omnivore, with new investors Capria Ventures and Thai Wah Ventures. The funds will expand services, develop advisory and financial offerings, and grow into new geographies. Founded in 2020, Agrizy facilitates agrifood procurement and provides end-to-end fulfillment services.
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.
