The Number News

Accacia Secures $6.5M Funding to Drive Real Estate Decarbonization Efforts: An AI-powered Solution for Sustainable Future In a landmark move, Accacia, #founded in 2022 by Annu Talreja, Piyush Chitkara, and Jagmohan Garg, alumni of INSEAD, has #secured $6.5 million in pre-Series A funding. Led by Illuminate Financial, with #backing from AC Ventures, Accel, and B Capital , this investment underscores the urgency of addressing carbon emissions in real estate and infrastructure sectors. Accacia's AI-enabled SaaS platform, adeptly tracking emissions, is hailed as a game-changer by Rezso Szabo of Illuminate Financial. With over 25 million square feet already under its purview, Accacia's technology promises scalable solutions to meet global emission regulations. Helen Wong, Managing Partner at AC Ventures, lauds Accacia's tailored approach to real estate decarbonization, recognizing the sector's complexities. As climate change mitigation becomes paramount, Accacia emerges as a beacon of innovation, poised to lead the charge toward sustainability. Read the Entire Article at: - https://lnkd.in/g3NjBE3f #technology #innovation #startups #fundraising #strategy #creativity

ProcMart secures $30M in Series B funding, led by Fundamentum and Edelweiss Discovery Fund, with Paramark Ventures joining in. The Noida-based B2B procurement marketplace, founded by Anish Popli, eyes expansion in supply chain solutions, strategic acquisitions, and international operations in Southeast Asia. With clientele including Colgate-Palmolive (India) Ltd and Mondelēz International, ProcMart targets diversification into new industries and plans to leverage AI for scaling operations, showcasing robust growth and profitability over the last three years. Read Entire Article on : - https://lnkd.in/dYA-5avT #technology #innovation #startups #fundraising #strategy #creativity

BharatPe Founded by Ashneer Grover, Shashvat Nakrani appoints Nalin Negi as CEO, signaling a strategic shift towards sustainable growth. With Negi's leadership, the fintech company saw a significant revenue surge of 182% in FY23 and achieved its first EBITDA positive month in October 2023. Negi, formerly the CFO, aims to drive innovation and empower merchants nationwide, leveraging his experience from SBI Cards and GE Capital. As BharatPe focuses on profitability and expands its lending businesses, it recently completed a $100 million debt round, positioning for further growth under Negi's stewardship. Read Entire Article on : - https://lnkd.in/dTzANx9Y #technology #innovation #startups #fundraising #strategy #creativity

Wow! Momo secures an additional Rs 70 crore in an extended Series D round from Z3Partners, bolstering its expansion plans. With a total Series D funding of Rs 480 crore, including both primary and secondary investments, the popular quick-service restaurant chain aims to strengthen its footprint and FMCG arm. Founded by Sagar Daryani and Binod Homagai, Wow! Momo Foods targets substantial growth, eyeing 200 new outlets in FY25 and a topline of Rs 650-700 crore in FY24, building on its impressive revenue surge from Rs 106 crore in FY21 to Rs 435 crore in FY23. Read the Entire Article on: - https://lnkd.in/dgGiS3Wj #technology #innovation #startups #fundraising #strategy #creativity

apna mart staggering 770% revenue surge in FY23 to Rs 32.2 crore comes with hefty expenses, resulting in a bottom-line loss of Rs 21.8 crore. Despite challenges in generating operational profits, the hyperlocal grocery platform attracts investor interest, aiming to raise $15-20 million from Accel and Sequoia (now Peak XV Partners). With potential, but also significant hurdles ahead, Apna Mart navigates the competitive landscape of smaller Indian cities under the leadership of founders Chetan Garg and ABHISHEK PRATIK SINGH. Read Entire Article on : - https://lnkd.in/dCNG4HTM #technology #innovation #startups #fundraising #strategy #creativity

Fintech unicorn Pine Labs sees a valuation surge as US-based #investment firms Baron Funds and Invesco US adjust its worth to $5.8 billion and $4.8 billion respectively by December 2023. Despite fluctuations, Pine Labs continues to navigate its #growth trajectory with a 56% increase in collection to Rs 1,588 #crore in FY23, even as losses rose by 12% to Rs 227 crore. Joining the ranks of valuation boosts are Swiggy, Meesho, FirstCry.com (BrainBees Solutions Ltd.), and Ola Electric, indicating a broader trend of optimism in the tech market. Read Entire Article on : - https://lnkd.in/dKGJcngq https://lnkd.in/dKGJcngq

Dhruva Space Secures Rs 123 Crore in Series A Funding: Accelerating the Future of Space Engineering Hyderabad-based Dhruva Space has reached a pivotal milestone with the closure of its Series A #funding round, raising an impressive Rs 123 crore. The capital injection, led by a consortium of notable #investors including Indian Angel Network Alpha Funding, Blue Ashva Capital, and Silverneedle Ventures, signifies a significant leap forward for the full-stack space engineering solutions provider. The funding will drive #strategic initiatives such as establishing a state-of-the-art #spacecraft manufacturing facility and expanding product offerings to meet global demand. Notable investors such as Mumbai Angels and Blume Founders Fund have also joined this transformative #journey. With a solid track record of 8 successful payload launches in the last 24 months, Dhruva Space, founded by Sanjay Nekkanti in 2012, is poised to leverage its #partnerships with industry giants like CNES and Swedish Space Corporation for global satellite-enabled services. Sanjay Nekkanti, CEO, expressed his vision of democratizing access to space through cutting-edge #technology solutions. He emphasized the pivotal role of the funding in scaling manufacturing capabilities and driving international expansion. Chaitanya Dora, CFO, highlighted Dhruva Space's remarkable growth trajectory, with a 300% annual #revenue increase since 2019, underscoring investor confidence in the company's potential. Investors lauded Dhruva Space's resilience and efficient approach in the competitive space-tech sector. Padmaja Ruparel of IAN Alpha Fund commended the founders' innovation, while Satya Narayan Bansal of Blue Ashva praised their proficiency in executing successful space missions. As Dhruva Space embarks on its next phase of growth, the successful Series A funding underscores its position as a frontrunner in the global space engineering landscape, poised to redefine the future of space exploration and technology. Read the Entire Article at: - https://lnkd.in/gCt2m38z #technology #innovation #startups #fundraising #strategy #creativity

Stepping Back into Success: Trase's Reacquisition and $500K Angel Investment TRASE Footwear, a pioneering #D2C footwear brand, is back in the hands of its original #cofounders, Jitin Goel and Dhruv G., after being reacquired from UpScalio. This #strategic move sets the stage for renewed #growth and #innovation as they reclaim control of the brand they launched in 2016. They have raised $500K in #angelinvestment, with Deep Bajaj and Mohit Bajaj of Sirona Hygiene Foundation leading the round, along with Shiven Malhotra, Vikas Gautam , and Rohit Jain. This infusion of #capital will fuel #expansion, #teamgrowth, and intensified #marketing efforts. With ambitious #revenue targets and a commitment to social responsibility, Trase is poised for #success. Read entire article at: https://lnkd.in/dKuUgEuz #Trase #startup #creativity #AngelInvestment #trending #creative #fundingnews #news #Investors

Spintly Secures $2M to Power U.S. Market Expansion Spintly. has secured $2M in #funding to accelerate its #growth in the #U.S. market. We're proud to announce that Accel, Doctor Technology, and the Chakra Growth Fund are among the #investors leading this extended #seedfunding round. This investment will fuel #Spintly's expansion efforts, focusing on strengthening #sales, #marketing, and strategic #partnerships. Co-Founder and CEO Rohin Parkar emphasized the funding's role in enhancing operational scalability and diversifying product offerings across various sectors. Founded in 2018 by Rohin Parkar and Malcolm Dsouza, Spintly is known for its #innovative #cloud-based smart building solutions. Their cutting-edge access control system integrates wireless #technology and #smartphone capabilities, offering adaptability and decentralized control. Partner at #Accel, Barath Shankar Subramanian, praised Spintly's technology, noting its #superiority over traditional systems. The company's recent #strategic moves, including relocating manufacturing to #India and expanding its U.S. team, demonstrate its commitment to #innovation and #growth. With this funding, Spintly is poised to expand into new market segments and introduce new features and products. Congratulations to the entire Spintly team on this milestone achievement! Read entire article at: https://lnkd.in/d6X8fBtf #Spintly #SmartBuildingSolutions #FundingAnnouncement

GPS Renewables has secured $50M in #debtfunding from major banks and #NBFCs for biofuel expansion. This #funding, led by institutions like Punjab National Bank, HDFC Bank, and YES BANK, will fuel the company's #growth in the clean energy sector. Founded by Mainak Chakraborty and Sreekrishna Sankar, #GPSRenewables has been a trailblazer in #biofuels, with a #turnover of $60M for FY 2023-24, representing a 225% increase. With previous #equityfunding totaling $20M from #investors like Neev Fund II, the company has established over 100 biogas plants. The funding will bolster GPS Renewables' efforts in fulfilling #MoUs valued at $540M for various biofuel #projects, aligning with India's National Biofuel Policy #amendment. This infusion of #funds underscores GPS Renewables' commitment to advancing #sustainable green energy practices, both #domestically and #abroad. Congratulations to the team! Read entire article at: https://lnkd.in/dd-nunCQ #leadership #innovation #careers #technology #business #entrepreneurship #digitaltransformation #marketing #futureofwork #professionaldevelopment