Green Frontier Capital’s Climate Opportunities Fund impact 

The fund will allow India-based investors to support local climate-tech ventures while contributing to the country’s sustainable development with a target corpus of Rs 1500 crore. The report by Entrackr mentioned that the firm mainly aims to help India-based companies from the seed stage to series A stages with a focus on decarbonization, disruptive technologies, and digitization. 

This investment will be used in several sectors including big data, artificial intelligence, and IoT to optimize resources and sustainable growth. Green Frontier Capital’s track record in managing investment funds is impressive. The venture capital fund focuses on early-stage Greentech companies. The strong performance has built investor confidence in launching the Climate Opportunities Fund which marks the first SEBI-approved category two alternative investment fund.

Expectations with the GFC’s new fund

The venture capital firm plans to use this investment in technologies that reduce emissions across critical industries. The fund will also be used to develop emerging solutions in biological intelligence and other fields for transforming food systems, life science, and sustainability.  The investment was primarily made to help the companies scale their business while focusing on sustainability.

This Climate Opportunities Fund is another huge milestone toward the company’s mission to capitalize on global policies while prioritizing support for early-stage companies and local sustainability. The company aims to deliver sustainable returns while moving toward sustainable transformation. The company believes the fund will allow the businesses to scale its operations and grow. The fund will help them achieve economic growth, scale their operations, and financial success. 

GFC’s previous investments

The investment firm recently participated in the pre-series A funding round of an electric vehicle firm Electric Pe. The company invested 3 million USD in the startup with the participation of Blume Ventures and other investors. Before this, Green Frontier Capital invested $3.74 million in KisanKonnect’s seed funding round. The company has backed various startups that develop innovative climate solutions and sustainable energy like Blusmart Mobility, Nutrifresh, and Battery Smart.

Conclusion :

The Investment firm Green Frontier Capital launched a Category 2 alternative Investment Fund, the Climate Opportunities Fund to help startups in big data, AI, and IoT sectors. The SEBI-registered fund has a target corpus of Rs 1500 crore. The company intends to invest in transformative climate technologies and help startups from seed to series A stages.

The company generally makes investments in early-stage greentech startups. This fund will mainly focus on startups in sectors including artificial intelligence, IoT, and Big data. The VC firm mentioned that the fund will also be used for the country’s sustainable development goals.

Scoopearth Team

Scoopearth team comprises a group of highly skilled professionals with expertise in their niche.  These  Team members have extensive experience in understanding and researching in topics such as startups, technology, artificial intelligence, trending business news, Listicles and  Case Studies . To maintain the highest quality standards, all articles are Manually  reviewed and verified by Niraj Kumar and Deepika Khare, ensuring accuracy, authenticity, and reliability.

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The source close to the development mentioned that the company sold its holding last week through a secondary deal worth 200 to 220 million USD. The startup data intelligence platform, thekredible mentioned that Meituan currently accounts for 3.88 percent of the swiggy’s overall stake. Existing investors including Elevation Capital and Norwest, have also sold their stakes in the firm before the company’s public listing. Swiggy’s major stakeholders like Accel and Prosus are expected to reduce their holdings through secondary deals before the firm goes public. Media reported.

Swiggy offers an online food delivery platform offering parcel delivery, groceries, and food ordering services. The food tech major provides services in several locations across India and it plans to expand its network globally. This startup allows users to order groceries like fruits vegetables, and seafood online. The online platform also provides medicine and document delivery services. The company is expected to make its public debut in the next three weeks. The startup plans to raise around 450 million USD through a mix of fresh issues and offer for sale.  The food-tech startup offers a platform to provide food and grocery delivery services.

Swiggy posted a 36 percent increase in its revenue to Rs 11,247 crore in FY24. However, the net loss decreased by 44 percent to Rs 2,350 crore in the same duration. The data intelligence platform, tracxn posted that the company has raised around $3.62 billion across multiple funding rounds since its inception. This includes $46.4 million secured from P R Venketrama Raja and other investors during its series K funding round. The development came when the app-based delivery platforms saw increased investor interest. Swiggy faces competition from other food delivery platforms such as Zomato, Blinkit, and Zepto.

Conclusion :

The Chinese food and grocery delivery platform, Meituan sold its $200 million worth stake in Swiggy to a US-based investor through a secondary deal. The food delivery platform bought a stake in the firm in 2018 and increased in 2020. The startup data intelligence platform, thekredible posted that the firm holds a 3.88 percent stake in Swiggy. 

The development came after Elevation Capital and Norwest sold their stakes in the food tech major. Swiggy has raised around $3.62 billion across all its funding rounds since its inception. The company competes with other food delivery platforms including Blinkit, Uber Eats, and more. 

Deepika Khare

Deepika Khare is a seasoned entrepreneur with 10 years of experience across diverse industries, including technology, startups, and business. She has a profound understanding of content marketing strategies and journalism, allowing her to create impactful and result-driven content. With expertise in the startup ecosystem, digital marketing, business coaching, and mentoring, she excels at crafting compelling narratives, optimizing content for engagement, and positioning brands for long-term success in the ever-evolving digital landscape.

Reach us: deepika.khare@scoopearth.com

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Lendingkart also intends to use some of this investment to increase its reach and enter the underserved markets. The equity investment came after a gap of four years during its primarily raised rounds through multiple debt rounds. After this investment, Fullerton Financial Holdings will become the startup’s major shareholder. Lendingkart mentioned that the investment from the FFH will help them deepen their reach in underserved markets while moving towards their mission to provide financial infusion for small businesses in India. Inc42 reported. 

Lendingkart provides loaning options such as SME loans, working capital loans, and business loans for women. Temasek’s Fullerton Financial Holdings has invested over Rs 772 crore in the fintech startup to date. Lendingkart is expected to be valued at 100 million USD following the new funding round from FFH. Economic Times reported. The startup data intelligence platform, thekredible mentioned that before this round, Temasek had over 38 percent stake in the lending firm.

The data intelligence platform, tracxn mentioned that the firm has raised around 228 million USD across 27 rounds since its inception, including $12 million secured from stride ventures and others during its conventional debt round in June.  The founder of lendingkart, Harshvardhan Lunia said that the company aims to replicate FFH’s past success in the Indian fintech market. This investment shows the investor’s trust in Lendingkart’s market potential and business model. Lendingkart faces competition from other loaning platforms like FlexiLoans and Neogrowth.

The lending platform claims to disburse loans with an average ticket size of Rs 5 to 6 lakh to small and medium enterprises. The startup has provided over Rs 18,700 crore in loans to 300,000 businesses across 4,100 cities. The company posted a 33.4 percent increase in its operational revenue to Rs 858 crore in FY23 with a profit of Rs 119 crore in the same duration. 

Conclusion :

A digital lending platform, LendingKart announced that Fullerton Financial Holdings will acquire the majority of its stake with an additional investment of $30 million. The company offers options related to business loans and working capital loans. The startup plans to use this fresh capital to expand its reach in underserved markets and advance its technology.

Lendingkart has raised $228 million across multiple funding rounds to date. The firm competes with other startups in the same market segment such as Neogrowth. The development came just after the fintech sector saw increased interest from investors. The company previously secured 12 million USD during its debt funding round led by stride ventures. 

Deepika Khare

Deepika Khare is a seasoned entrepreneur with 10 years of experience across diverse industries, including technology, startups, and business. She has a profound understanding of content marketing strategies and journalism, allowing her to create impactful and result-driven content. With expertise in the startup ecosystem, digital marketing, business coaching, and mentoring, she excels at crafting compelling narratives, optimizing content for engagement, and positioning brands for long-term success in the ever-evolving digital landscape.

Reach us: deepika.khare@scoopearth.com

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Northern Arc’s Finserv Fund impact on small business

The fund will offer a long-term debt to financial enterprises focused on underserved and unserved segments with a target corpus of Rs 1500 crore. The spokesperson of Northern Arc told inc42 in an interview that this fund will invest in around 45 to 55 companies with an average ticket size of Rs 40 crore per firm. The CEO of Northern Arc, Bhavdeep Bhat mentioned that this fund aims for a gross return of 14.50 percent extended internal rate of return in the four-year tenure with a deployment period of six months from the date of final close.

Northern Arc’s track record in managing investment funds is impressive. The company has completed and exited four funds, delivering returns that exceeded expectations. This strong performance has built investor confidence in the launch of the Finserv Fund which marks the 11th AIF managed by Northern Arc.

Company’s vision and expectation with the Finserv Fund

The non-banking financing company claims to have completed and exited four funds at a higher number than targeted returns to investors. The investment was made to help the companies scale their business while enabling them to achieve their market expansion plans. The CEO and managing director of Northern Arc, Ashish Mehrotra told Businessline in an interview that the Finserv Fund is another huge milestone toward the company’s mission to remove the financial gap between businesses and underserved individuals through the firm’s strength in proprietary data and technology.

The company showed confidence in the Finserv Fund and highlighted that this will deliver high returns. The company believes the fund will enable the enterprises to scale its operations and grow. The fund will help them in economic growth and financial success. Northern Arc manages an AUM of Rs 14,639 crore through a balance sheet and active AIF funds. The non-banking finance company provides business and household loans. The firm offers its services across various areas including market research and fund management.  The Chennai-based company uses data analytics and qualitative assessment.

Recent investments and funding

The data intelligence platform, tracxn mentioned that the company has raised around 283 million USD across 18 funding rounds since its inception, including $75 million secured from FMO during its conventional debt funding round. Northern Arc recently secured Rs 229 crore from Marquee anchor investors with the participation of SBI General Insurance Company, Goldman Sachs, Kotak Mahindra Life Insurance Company, and others ahead of its Initial Public Offering. The funds were used to meet the future capital requirements for onward lending. The company provides financial solutions to growth-stage and early-stage companies. The company contributes to and promotes entrepreneurs and startups.

Northern Arc claims to have funded over Rs 18.1 lakh crore for its clients across 671 districts in India. The company offers its services in lending, investments, and placements across multiple sectors. The firm has invested in startups such as Slice, BharatPe, Rebel Foods, ProsParity, and others. The company was listed at a premium of Rs 351 on BSE at an issue price of Rs 263. Northern Arc wants to provide companies with access to finance and long-term debt capital. Earlier this year, the company also raised 80 million USD in its mix of equity and debt funding round from International Finance Corporation, an investment subsidiary under the World Bank Group’s private sector.

Investors and partnerships

The platform offers financial solutions across Finance, business, and other sectors. The data intelligence platform, traxcn mentioned that the company has facilitated around 18 funding rounds. The company has 27 institutional investors including Standard Chartered, Eight Roads Ventures, FMO, AND Leapfrog investments. The development came just when the investor’s interest increased in the Indian startup ecosystem. Inc42 mentioned that around 93 percent of the 50 startup investors see 2024 as a turnaround year in terms of funding for the Indian startup ecosystem. The private equity firm provides investment and finance services to its customers through its online platform.

The Indian startup ecosystem is expected to grow in the next few years with the company’s launching new funds focused on startups. The government of India also launched a scheme to enable all entities and small businesses to join Open Network for Digital Commerce and online product selling. The initiative is taken to help these enterprises compete in the digital market as it reduces the total expenditure due to low commissions in the online marketplace.

Company’s financial results for FY24

Northern Arc reported a 44 percent increase in its revenue to Rs 1,890 crore for FY24. The total profit also increased to Rs 317.69 crore in the same duration. The company had a revenue of Rs 1,304 crore in the last financial year with a profit of Rs 242.21 crore in the same year. The company’s initial public offering was subscribed to 110.91 times with interest from the qualified institutional buyers who subscribed to the public list over 240.79 times.

Government schemes to promote the startup ecosystem

Investment firms and the government have been introducing various funds to support Indian startups. NABVENTURES, a subsidiary of NABARD, has also launched an agriculture-focused fund with an initial amount of Rs 750 crore. Out of this, Rs 250 crore was contributed by the Ministry of Agriculture, and the rest will come from other institutions. The purpose of this fund is to help agriculture startups grow their businesses. It will also improve the value of agricultural products and create better rural connections and infrastructure.

The government is introducing these schemes for clean innovation and its real benefits will be reflected in sectors such as agriculture, technology, and small industry. This helps startups secure funds, scale up businesses, improve productivity, and contribute to the nation’s economy. Such collaboration between the government and the investment firms is very important for creating the future of our country.

Conclusion:

The Non-banking financing company provides housing and business loans while offering financial solutions to growth and early-stage startups. The company launched a fund with a target corpus of around 178.5 million USD including a green shoe option of 59.5 million USD. The company claims to have invested Rs 1.81 lakh crore in various investment rounds across 671 districts of India. The company aims to use these funds across six areas including MSME financing, Consumer finance, vehicle finance, agriculture finance, affordable housing, and microfinance. Northern Arc announced the launch of this second category Alternative investment fund Finserve Fund through its investment arm, Northern Arc Investment Managers.  

The investment will be used to back around 45 to 55 entities with an average ticket size of Rs 40 crore per company. The firm focuses on underserved and unserved segments. The startup ecosystem in India is predicted to increase in the next few years this is why the government is also trying to launch various new schemes and the investment firms are also making huge investments in the startups to gain profit. Earlier, this year the government of India launched a fund to promote innovative and tech-driven initiatives in the agriculture market.

This funding round marks the launch of the 11^th alternative investment fund by the company along with the two portfolio management services funds that this company already manages. The CEO of Northern Arc Investments, Bhavdeep Bhatt showed his trust in the funding and said that the company has exited four funds at higher return value than expected to their investors. Northern Arc announced the launch of this second category Alternative investment fund Finserve Fund through its investment arm, Northern Arc Investment Managers. The investment will be used to back around 45 to 55 entities with an average ticket size of Rs 40 crore per company. The firm focuses on underserved and unserved segments.

Suraj Verma

Suraj Verma has a passion for keeping the Business world informed through comprehensive coverage of Trending News and Startup News. His storytelling ability shines through captivating Startup Stories, while his expertise in curating Listings and analyzing Case Studies drives impactful results.

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Competition and Diverse Investment Options

Despite the new 23% per annum, Branch International is among the best competitors within the rapidly growing digital finance sector. This rate is much higher compared to many traditional investment opportunities hence appealing to investors willing to earn high income with little work. The Branch’s commitment to achieving the goal of allowing its customers to get the maximum out of their investment.

Branch International invests in different areas to meet customers’ investment needs in diverse investment products. Alongside the new fixed investment rate of 23%, is Target Investment at 19% and Flexi Investment at 10%. These options enable the users to select the right investment plan according to their achievable investment goals and risk appetite.

Seamless and User-friendly Experience

The most significant feature of Branch International is the Branch app, which is easily downloadable on the Google Play Store to enable users to invest with Branch International easily and borrow loans and other financial products. The platform is authorized by the Central Bank of Nigeria which invests in the platform to be safe and secure.

Evolving Needs of Modern Investors

The investment rates that Branch International has set up are new targeting to suit the current investors’ needs. The modern financial environment requires the identification of investment opportunities that guarantee high returns with minimal risks involved when compared to traditional forms of investment. The Branch’s strategies rely on technology to make investing easy for the common client. 

Significant Impact on the Financial Market

The announcement of the new investment rates is likely to bring about changes, especially in the overall financial market. Due to the possibility of earning one of the highest returns currently out there, Branch International Company will draw significant attention from more investment kin. Such inflow of funds can lead to more innovation and growth of the company and expansion of various types of financial products and services offered. The current rates can cause other digital finance platforms to reconsider their business models making the market more competitive. This may also be advantageous in the long run to consumers, especially since companies would aim for higher rates and constant improvement in the services offered to increase clientèle.

Conclusion

The new high investment rates announced by Branch International include 23%per annum as the company seeks to improve the yield of its products. This action also improves the appeal of the Branch’s investment products but it also is a stamp of approval on dealing with the needs of the contemporary investor. As Branch international has established a secure and efficient interface coupled with a broad variety of investment opportunities and commitment to the consumers Branch’s future in the field of digital finance is quite promising. 

Scoopearth Team

Scoopearth team comprises a group of highly skilled professionals with expertise in their niche.  These  Team members have extensive experience in understanding and researching in topics such as startups, technology, artificial intelligence, trending business news, Listicles and  Case Studies . To maintain the highest quality standards, all articles are Manually  reviewed and verified by Niraj Kumar and Deepika Khare, ensuring accuracy, authenticity, and reliability.

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Vision and Commitment of HUB24 

HUB24 invested in Reach Alternative Investments, it’s all about adding more depth to HUB24 as a platform and more breadth to what HUB24 can offer its clients. Through engaging with Reach to achieve this memorandum of understanding, HUB24 aims to co-develop products and solutions that are suitable to the advisers and their respective clients to allow them access to quality alt investments hitherto unavailable to them.

This partnership also demonstrates HUB24’s strategy of embracing innovation while also highlighting the company’s emphasis on providing clients with value. With the help of Reach’s platform to be connected to its own HUB24 believes that the end users, including advisers and investors, will be able to expand the range of portfolios and finally reach their objectives on the financial scene. 

Vision of Reach Alternative Investments

Reach Alternative Investments was established in 2021. Reach Alternative Investments has positioned itself as a significant fintech player in the market where it offers access to the private equity and private funds market that are traditionally available to institutional investors only. The company solves the administrative and capacity issues that are familiar to modern demanding investors, private clubs of wealthy individuals, and family offices.

The access to high-quality private market investments via Reach Alternative Investments’ marketplace is meant to broaden its appeal and cater to a wider public. In the same manner, Reach has cultivated exclusive relationships with some of the most renowned global asset managers including EQT, PGIM, Apollo, TPG, BlackRock, and Bain Capital so that clients of Reach have access to some of the most effective investment opportunities globally.

Strategic Investment in Reach Alternative Investments

HUB24 an Australian-based company that offers a comprehensive package of services for advisers and clients who seek various forms of investment has taken an investment in Reach Alternative Investments. The details of the deal have not been disclosed, but the fact is known that this year in March, Reach raised $3 million at a $15 million post-money valuation. This investment is a strategic direction for HUB24 as they partner with exciting fintech businesses to provide solutions that address the current demands of the clients. 

Collaboration between HUB24 and Reach Alternative Investments

The collaboration between HUB24 and Reach Alternative Investments is how the Australian fintech landscape is constantly evolving. With fintech firms expanding and revolutionizing financial solutions continuously, such strategic collaborations are important for the growth and dissemination of innovative products.

Reach Alternative Investments having HUB24 as their strategic investor is the source of much-needed support and capital that is necessary to advance their operations and develop the platform. This will ensure the company gets to the next level where a higher number of people get to invest in high-quality private market funds. 

Conclusion

The strategic acquisition of Reach Alternative Investments by HUB24 is a big development for both companies. Each of them is uniquely positioned to alter the landscape of how alternative investments are formed and managed in Australia due to their capabilities. 

Scoopearth Team

Scoopearth team comprises a group of highly skilled professionals with expertise in their niche.  These  Team members have extensive experience in understanding and researching in topics such as startups, technology, artificial intelligence, trending business news, Listicles and  Case Studies . To maintain the highest quality standards, all articles are Manually  reviewed and verified by Niraj Kumar and Deepika Khare, ensuring accuracy, authenticity, and reliability.

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Image Source: Ceinsys  

Funding Details

The funding round was led by Rare Capital, an American-based investment firm with great expertise in identifying key growth-oriented firms. Rare Capital invested Rs 125 crore (USD 15 million) in the funding program. The investment received is an affirmation of the belief investors are placing behind Ceinsys Tech’s future and its growth prospects.

The funds of Rs 235 crore will be used optimally to fund Ceinsys Tech’s growth strategies. It plans to transform itself by organic and inorganic routes, thereby trying for acquisitions and joint ventures to gain new areas of service specializations. Moreover, the funds will be directed to the improvement of the technological profile of the company, with focusing on sectors such as geospatial, engineering, and digital sectors.

 The Promoter and Chairman of Rare Capital, Sagar Meghe said, “By leveraging Ceinsys’s core expertise and being focused on high growth sectors like geospatial, engineering research and technology enablement services, have a high degree of confidence in the company’s ability to execute this growth strategy globally.”

Quotation Source: Rediff Moneywiz  

Vision and Leadership at Ceinsys Tech

Ceinsys Tech was founded in 1998. Ceinsys Tech is now among the leading technologies offering geospatial, enterprise, and engineering services. The company’s client base offers a wide range of markets such as utilities, infrastructure, Natural resources, and manufacturing markets. Based in India, Ceinsys Tech has offices in the USA, the UK, Singapore, and Germany Through smart technology and analytics, the firm provides effective solutions that facilitate operations and decision-making.

The managing Director and Chief Executive Officer Sagar Meghe along with other members of the leadership team of Ceinsys Tech is aimed at strategic development of the company. With the leadership of Meghe at Ceinsys Tech, has always aimed to create value for the clients by making sound investments and incorporating all kinds of technological changes while focusing on the customer needs. This latest round of funding proves it and co-founder/CEO Nadav Sharon’s leadership along with the company’s appeal to top-shelf investors. 

Global Market Expansion

Ceinsys Tech continues to expand its business driven by global demands for enhanced geospatial and engineering services. The company has recently purchased the business of USA geospatial organisation VTS which was another milestone in the international diversification process of the firm. This acquisition will help Ceinsys expand the range of services offered in North America and the rest of the world.

The geospatial and engineering solutions market especially over the globe looks like moving into a phase that will see greater penetration of digital technologies and efficient management of existing infrastructure. Based on market research, the geospatial analytics market likely registered a CAGR of 14.2% between 2021 and 2028. This growth is attributed to the increase in the uptake of LBS solutions, smart city projects, and the development of remote sensing technologies. 

Conclusion

The latest funding round of Rs 235 crore, managed by Ceinsys Tech, is a key achievement on its growth map. Rare Capital is among the leading investors in the firm which means the company will continue to grow its international outreach and improve its services. Ceinsys Tech has an active and valuable role in developing geospatial and engineering solutions for clients. It will be instrumental in determining the future direction of engineering solutions for the better value creation for stakeholders.

Scoopearth Team

Scoopearth team comprises a group of highly skilled professionals with expertise in their niche.  These  Team members have extensive experience in understanding and researching in topics such as startups, technology, artificial intelligence, trending business news, Listicles and  Case Studies . To maintain the highest quality standards, all articles are Manually  reviewed and verified by Niraj Kumar and Deepika Khare, ensuring accuracy, authenticity, and reliability.

Note: You can reach us at support@scoopearth.com with any further queries.

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The startup plans to use this fresh capital to scale operations, expand its network, introduce new products, and enhance its platform. The board has approved a resolution to allot 5,62,631 compulsory convertible preference shares to raise $10 million. According to the company filing, the startup will use these fresh proceeds for development and market expansion. The startup offers various healthcare products including ayurvedic teas, nutrition powder, and medicines. The company also provides doctor’s guidance on health concerns like weight management, skin care, daily wellness, and hair care. 

The tracxn data shows that the startup has raised around $41.1 million across nine funding rounds since its inception, including a $107k round from angel investors. The startup also increased its ESOP pool size by adding 1,415,00 new employee stock to its existing stock plan pool of 4,47,741 worth Rs 66 crore.  After this round, the existing investor OrbiMed Asia remains the largest external stakeholder of the firm. 

Kapiva posted an 87 percent YoY increase in its financial growth to Rs 116.48 crore in FY23. However, the net loss stood out at Rs 64.5 crore in the same duration. The company intends to use some of this fund to strengthen its platform and expand its services in India. The brand offers clinically tested and expert-formulated nutritional products. The startup data intelligence platform, thekredible mentioned the company’s post-allotment valuation to be around 80 million USD. The firm may use a portion of this investment to grow its brand presence.

Kapiva offers a platform that provides natural and organic health, hair fall, weight loss, or digestion products. The company operates in omnichannel mode and aims to establish more physical stores. The startup faces competition from other ayurvedic healthcare product offering platforms such as LifeVantage, Metagenics, and Labomar. This investment shows investor’s trust in Kapiva’s market potential and business model.

Conclusion :

Kapiva is a Bengaluru-based D2C startup that provides Ayurvedic healthcare products. The startup secured fresh capital of $10 million from OrbiMed Asia in its fresh funding round. The funding round had participation from other investors, including 3one4 Capital, Vertex Ventures, and others. The company plans to use this amount to scale its operations, introduce more categories, expand to services, and develop its brand presence.

OrbiMed Asia led the round with Rs 52.2 crore followed by Vertex ventures with Rs 19.33 crore while 3One4 Capital invested Rs 11.96 crore. After this round, the existing investor OrbiMed Asia remains the firm’s largest external stakeholder. The company’s board approved the resolution to allot 5,62,631 CCPS to raise Rs 83.5 crore.

Scoopearth Team

Scoopearth team comprises a group of highly skilled professionals with expertise in their niche.  These  Team members have extensive experience in understanding and researching in topics such as startups, technology, artificial intelligence, trending business news, Listicles and  Case Studies . To maintain the highest quality standards, all articles are Manually  reviewed and verified by Niraj Kumar and Deepika Khare, ensuring accuracy, authenticity, and reliability.

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Entrackr mentioned in its report that the firm also earns income through interest and gains on current investment services. The scale saw a 17 percent decrease in FY24. The overall gross revenue generated was around Rs 46.11 crore. This includes money from interest and gains on current investments worth Rs 21.3 crore.

The company has secured over 186 million USD across seven funding rounds since its inception, including $50 million raised during its series D funding round led by Arvon Investments and India Infoline. The data intelligence platform, tracxn mentioned that the company’s post-money valuation is around 3.15 billion in May 2022. 

The Bengaluru startup develops digital business payment solutions for businesses to provide fully digital current accounts and tools for finance, credit, and accounting. The online platform uses advanced technologies to provide the best customer experience. This fintech startup provides users with various digital business payment solutions.

Open claims to have served over 3.5 million clients and have processed annual transactions of over 35 billion USD. The employee benefits increased the total costs by 60 percent to Rs 117.08 crore in FY24. The total expenditure of the firm decreased by 34.4 percent to Rs 194.65 crore in the same duration. 

The Bengaluru startup posted a 55.4 percent improvement in the cash outflows to Rs 91.7 crore in FY24. The employee benefit decreased by 21.6 percent to Rs 117.08 crore in the same duration. The company controlled its losses by 30 percent to Rs 169.68 Crore this fiscal year by cost-cutting measures.

The employee benefits account for 21 percent of the total expenditure compared to the last year. The EBITDA margin also stood at -264.50 percent, while the ROCE was around -45.61 percent. Open faces competition from other internet-first digital banking services providers such as Tide and Chqbook.

Conclusion :

The SaaS-based fintech startup Open announced a 17 percent decrease in its operational revenue to Rs 24.81 crore in FY24. This digital bank service offering platform provides several fintech solutions including deposit accounts, cash management, and expense management services. These services and interest or gain on current investments are the firm’s primary sources of revenue. The loss also decreased by 29.9 percent to Rs 169.68 crore in FY24.

The total expenditure of the firm saw a 34.4 percent decline and crossed Rs 194.65 crore in the same duration. The startup minimized its loss by 30 percent by reducing operating and employee expenses. The company has secured over 186 million USD across multiple funding rounds to date.

Scoopearth Team

Scoopearth team comprises a group of highly skilled professionals with expertise in their niche.  These  Team members have extensive experience in understanding and researching in topics such as startups, technology, artificial intelligence, trending business news, Listicles and  Case Studies . To maintain the highest quality standards, all articles are Manually  reviewed and verified by Niraj Kumar and Deepika Khare, ensuring accuracy, authenticity, and reliability.

Note: You can reach us at support@scoopearth.com with any further queries.

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Mission of FluoRok

FluoRok was founded in 2022. FluoRok was founded at the University of Oxford and has a mission to revolutionize the creation of fluorochemicals. Fluorides are chemical compounds containing fluorine, a versatile element primarily used in the energy, healthcare, and agriculture sectors. Conventional methods of manufacturing fluorochemicals use hydrogen fluoride (HF), which is known to be lethal and dangerous for human health. FluoRok introduced a new technology that eliminates the need for HF and was, therefore, safer and more sustainable.

The CEO and founder of FluoRok, Dr. Gabriele Pupo said, “We are delighted to welcome BGF and Green Generation Fund along with Volta Energy Technologies to our investor base. Their experience of building successful break-through technology businesses in battery and sustainable technologies will be invaluable. With an outstanding investor syndicate to support us, we continue our mission to make fluorochemicals production safer, cheaper, and more sustainable.

This investment will play a huge part in our journey to scale and commercialise our proprietary technology with key partners across the global fluorochemical supply chain, and in accelerating the development of a technology that can provide a reliable and localised supply of a key component of Li-ion batteries.”

Quotation Source: Tech Funding News  

Funding Details

The funding round was supported by BGF, Green Generation Fund, and Volta Energy Technologies as a battery specialist. Other participating investors were Oxford Science Enterprises Investors the University of Oxford, Excellis Holding, and several angels. This diverse investor pool provides FluoRok with a wealth of experience and capital to achieve its strategic objectives.

FluoRok is set to utilize the £7.7 million funding to increase the company’s capacity for growth. The company’s intentions include the construction of new production facilities to accommodate the demand for its fluorinating reagents and LiPF6, a lithium-ion battery constituent.

FluoRok’s Patented Technology

FluoRok’s patented technology is a major improvement in methods of fluorination. Here the company has realized a process that is safer than the use of HF and that which is cheaper and friendly to the environment. The high demand from potential customers in strategic market segments such as Lithium-ion Battery Electrolyte Salts and Agrochemicals.

The approach is consistent with the increasing demand for effective and environmentally friendly chemical processes. The market for fluorochemicals has been estimated to be $24 billion. With FluoRok’s new technology, the firm will be unique in penetrating this market by offering environmentally friendlier chemistries. 

Team Growth

The expansion will also assist with growth, and offer FluoRok the ability to push into increased revenues for its patented technology faster. The innovative approach used by FluoRok has proved worthy and the company has received a lot of interest from potential customers in the identified core markets. The commitment of the company to sustainability and safety puts it ahead of other fluorochemicals firms to transform chemical manufacturing standards in the sector.

Conclusion

The recent £7.7 million funding round to FluoRok aims at changing fluorochemical production. FluoRok has the opportunity to revolutionize the chemical industry by creating a solution that is safer, more sustainable, and more cost-effective than current methods. 

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