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In a significant development, a consortium of investors consisting of Peak XV, Stellaris Ventures, Sofina Ventures, and Fireside Ventures has collectively sold a massive Rs 1,600 crore ($190 million) worth of shares in Honasa Consumer Limited, the parent company of popular direct-to-consumer (D2C) skincare and beauty brand MamaEarth. According to data from the National Stock Exchange (NSE), the investors sold 3.24 crore shares of MamaEarth at an average price of Rs 495.48 per share. The sell-off marks a significant exit for the investors, who currently hold a substantial portion of the company. Peak XV, the lead investor, along with its former entity Sequoia Capital Global Growth Fund III, divested around Rs 753 crore ($90 million) worth of shares, while Sofina Ventures, Stellaris Ve...

New Delhi, India - Onsurity, a leading employee healthcare platform, has concluded a substantial $45 million Series B funding round, led by renowned private equity fund Creaegis. This significant investment brings the total funding raised by the insurtech startup to $66 million, solidifying its position as a pioneer in the Indian employee healthcare market. The round saw participation from existing investors, including International Finance Corporation, Quona Capital, and Nexus Venture Partners, who have shown confidence in Onsurity's vision to provide comprehensive, affordable healthcare solutions to Indian small and medium-sized enterprises (SMEs). As part of the funding, Creaegis will hold 17.10% of the company, while Nexus and Quona will hold 28.22% and 12.82%, respectively. Key ...

Newmi Care, a pioneering full-stack outpatient care platform focusing on women's health and wellness, has announced that it has raised $1.5 million in a seed funding round led by Sprout Venture Partners. The investment will enable the company to expand its network of women's clinics in North and West India, enhance its technology and product innovation, and grow its team. The funding round also saw participation from a leading family office, LetsVenture, Sarcha Advisors, Key Ventures Forum, and a few angel investors. Since its inception in May 2022, Newmi Care has serviced over 60,000 women across 400 cities in India, addressing a wide range of health concerns, including menstrual, sexual, and hormonal health, fertility and maternity, menopause, and women's reproductive organ cancers. ...

Mumbai, India - Agilitas Sports, a leading sportswear and athleisure solutions platform, has secured a significant strategic investment from Spring Marketing Capital. While the exact amount of funding has not been disclosed, this partnership is expected to propel Agilitas Sports towards becoming a major player in the sportswear industry. According to the company's press release, the investment will enable Agilitas Sports to enhance its capabilities and expand its brand portfolio further. Abhishek Ganguly, CEO and Co-founder of Agilitas Sports, stated that the new investment will be instrumental in driving the company's growth and development plans. Agilitas Sports, founded by Abhishek Ganguly, Atul Bajaj, and Amit Prabhu, has already made significant strides in the industry, securing...

Gurugram, India - People Matters, a leading HR and worktech platform, has announced the appointment of Pushkaraj Bidwai as its new CEO and board member, succeeding Ester Martinez, who has stepped down after 15 years at the helm. Bidwai, who previously served as Chief Business Officer, assumes his new role effective immediately. Bidwai has been with People Matters since 2017 and has played a pivotal role in expanding the company's presence into six new countries. As a founding member, he has been instrumental in shaping the company's vision and has been preparing for this leadership role as part of a strategic succession plan. His appointment is seen as a natural transition, ensuring continuity and momentum in the company's growth trajectory. The announcement comes on the heels of Jap...

Funds will be used to enhance technology, talent, and strategic acquisitions to offer plug-and-play solutions for financial advisors and single-family offices Centricity, a Gurugram-based B2B2C wealthtech startup, has secured $20 million in seed funding led by Lightspeed, a venture capital firm. This significant investment brings the company's valuation to $125 million, a sixfold increase from its pre-seed funding of $20 million in September 2022. Joining Lightspeed as investors in this round are existing backers Burman Family Office, Shantanu Agarwal, and angel investors Ritesh Agarwal, Vishal Dhupar, and the MS Dhoni Family Office. Key Highlights: Centricity aims to use the fresh capital to scale its platforms, Invictus and One Digital, by investing in technology and talent ...

Mumbai, India - Futwork, a sales outreach platform that enables businesses to build and expand their outbound calling teams with zero fixed costs, has secured Rs 20.9 crore (approximately $2.5 million) in its Series A funding round led by the Michael & Susan Dell Foundation. This significant investment was achieved through the issuance of 50 equity and 8,820 preference shares at an issue price of Rs 23,650 each, as per the recent regulatory filing accessed from the Registrar of Companies (RoC). The Michael & Susan Dell Foundation led the investment with Rs 14.17 crore, with Artha Ventures, Simile Capital, SCI Bureaux, D2C Insider Angels, and angel investor Abhishek Goyal participating in the remainder of the funding. Post-funding, the Michael & Susan Dell Foundation will ...

D2C Insider, a leading community for direct-to-consumer (D2C) entrepreneurs, has announced the launch of its third cohort of the Elevate Program. This highly anticipated growth accelerator is designed specifically for early-stage consumer brands with up to Rs 25 lakh monthly revenue, aiming to scale rapidly and secure institutional capital. The Elevate Program is an investment-backed 12-week boot camp that offers a structured approach to growth, guidance from industry experts, and access to a powerful network of successful entrepreneurs and investors. Notable mentors, such as Aditya Sharma (The Souled Store), Karthik Reddy (Blume Ventures), and Gaurav Khatri (Noise), will share their insights and expertise with participants. The program's benefits include: Structured playbooks an...

New Delhi, India - Dharaksha Ecosolutions, a biotech-driven R&D start-up, has secured $2.95 million in seed funding led by Avaana Capital, the company announced in a press release. This latest funding round brings the total funding secured by the company to over $2.5 million. The company plans to utilize the proceeds from the funding round to expand its production capabilities, intensify research and development practices, and strengthen its market presence. Dharaksha Ecosolutions, co-founded by Anand Bodh and Arpit Dhupar in 2020, aims to replace conventional plastic and petroleum-based packaging with sustainable alternatives made from agricultural waste. Dharaksha's innovative approach utilizes agricultural waste as a feedstock to develop mycelium-based packaging materials that...