Page 3 - Fund Raising

Insurtech firm Zopper raises $25 mn in to ramp up its digital infra

The funds will also accelerate growth in the firm's current bancassurance offerings and enhance its post sales and servicing capabilities for Zopper's device and appliance protection businesses

China's Alibaba Group raises $5 billion in dual currency bond deal

The deal is the first time the company has tapped the dollar bond market since 2021, according to data compiled by LSEG, and also the largest corporate bond in Asia Pacific this year

Accel leads $2 mn funding for Swish to expand 10-minute food delivery

The funding aims to support the startup's expansion across Bengaluru and eventually into other Tier-1 cities, stated the company press release

SBI raises $500 million through 5 year bonds from international investors

State-owned lender also raises Rs 10K cr through 15-yr infra bonds at 7.23%

Blue Energy Motors plans to raise $100 million by January, says CEO

Blue Energy, India's first LNG truck manufacturer, was valued at $250 million in its previous fundraising round

IRFC retains Rs 1,415 crore at 7.14% through 15-year maturing bonds

India's 10-year government security (g-sec) yield closed at 6.82 per cent on Monday

Persana AI raises $2.3 million to tap sales intelligence market growth

The startup aims to empower GTM (go to market) teams with tools that streamline workflows and drive growth in today's data-driven landscape.

Finova Capital raises $135 million to expand loan book, invest in tech

The firm has a presence across 16 states with over 400 branches. Its current assets under management are pegged at Rs 3,000 crore

Neuron7.ai secures $44 million in Series B led by Smith Point Capital

The firm operates in Bengaluru and plans to scale operations in India, targeting 10x growth in 2024

Godrej Properties' board approves Rs 6,000 cr fund raise through securities

The funds will be raised in one or more tranches through public and/or private offerings

AI healthcare firm Qure.ai completes $65 mn Series D funding round

The investment will expedite expansion into the US market and other geographies, increase investment into foundational AI models and enable complementary med-tech company acquisitions

RPower seeks shareholders' nod to raise Rs 1,525 cr via preferential issue

Reliance Power will seek shareholders' approval to raise Rs 1,524.60 crore through a preferential issue. According to the postal ballot notice, the company will raise up to Rs 1,524.60 crore by preferential issue of up to 46.20 crore equity shares and/or warrants convertible into equivalent number of equity shares of the company at a price of Rs 33 per share/warrant. The e-voting period that commenced earlier on Tuesday, will end on Wednesday, October 23, 2024. The result of the postal ballot will be announced on or before on Friday, October 25, 2024. On September 23, the board of Reliance Power Ltd had approved raising Rs 1,524.60 crore through a preferential issue where promoters will pour Rs 600 crore into the company to advance its business. Reliance Infrastructure, the promoter of the company, will enhance its equity stake by over Rs 600 crore. The other investors who will participate in the preferential issue include Authum Investment and Infrastructure Ltd and Sanatan Finan

Nurix AI raises $27.5 mn in funding round led by Accel, General Catalyst

Startup founded this year will use the financing on technology and business expansion

SpiceJet raises Rs 3,000 cr through QIP, to receive additional Rs 736 cr

With the latest capital infusion, SpiceJet plans to strengthen its operations, expand its fleet, and extend its network to meet growing passenger demand in the country

SpiceJet raises Rs 3,000 crore through QIP, to receive additional Rs 736 cr

Domestic carrier SpiceJet on Monday said it has raised Rs 3,000 crore through a Qualified Institutional Placement (QIP). The QIP, which opened on September 16 and closed on September 18, received an overwhelming response from qualified investors and got significantly oversubscribed, demonstrating strong confidence in the company's growth prospects, SpiceJet said in a statement. It also said the QIP attracted a diverse pool of top-tier institutional investors and mutual funds, including Goldman Sachs (Singapore), Morgan Stanley Asia, BNP Paribas Financial Markets ODI, Nomura Singapore Ltd ODI, Tata Mutual Fund, Discovery Global Opportunity Ltd, among others. In addition to Rs 3,000 crore funding, SpiceJet said it will also receive an additional Rs 736 crore from the previous funding round, further boosting its financial stability and growth plans. The newly raised capital will be used to operationalise grounded aircraft, acquire new planes, invest in technology, and expand into new

FinOps platform Bluecopa raises $1.8 million in pre-Series A round

The Hyderabad-based company will use the fresh capital to expand market reach, improve artificial intelligence (AI) capabilities, and advance product development.

Chennai-based fintech Kaleidofin announces raising $13.8 mn in funding

Company provides loans to low-income customers and businesses in informal economy

Oriental Trimex to raise Rs 48.51 crore; rights issue opens Thursday

Oriental Trimex, a processor and trader of natural stones, on Monday announced that the company will raise Rs 48.51 crore through rights issue. The subscription to the rights issue will open on Thursday and conclude on September 27. The company will issue up to 4.41 crore equity shares at price of Rs 11 per share (including a premium of Re 1 per share) on a rights basis to the eligible equity shareholders in the ratio of three equity shares for every two fully paid-up equity shares held by the eligible equity shareholders, Oriental Trimex said in a statement. The company has fixed September 5, 2024 as the record date to decided the eligibility of shareholders, it added. Proceeds from the issue will be used by OTL to repay its loans and working capital requirement. Also, funds will be used by the firm for setting up an additional machinery for marble block in Tamil Nadu and development of Jet-Black quarry granite in Odisha. "With only a nominal interest amount remaining, which is .

Centricity's valuation reaches $125 mn in funding round led by Lightspeed

Centricity plans to utilise the fresh capital to expand its operations. The company intends to double its tech development team from 75 to over 150 specialists

Home decor brand Nestasia raises $8.35 mn in from Susquehanna Asia VC

Home decor and lifestyle brand Nestasia has raised USD 8.35 million in a fresh funding round from Susquehanna Asia VC, Stellaris Venture Partners and notable angel investors. The capital raise will scale the company's efforts in offline store expansion, new category launches, brand building, and hiring, according to a release. Nestasia plans to expand its product range within kitchenware, drinkware, cookware, and appliances and introduce new themed categories such as home products for children (Nest Baby and Kids), among others. Nestasia, which was founded in 2019 by Aditi Murarka Agrawal and Anurag Agrawal, offers a curated selection of home decor and lifestyle products across six key categories. "This funding empowers us to stay true to our mission to Make Home Special' by introducing fresh, on trend products, expanding our offline presence, and strengthening our brand connection with customers," Aditi Murarka Agrawal, Co-founder of Nestasia said. Nestasia has been expanding its