Latest news with #DharanaCapital
Time of India
29-04-2025
- Business
- Time of India
Urban Company founders sell Rs 780 crore worth of shares through multiple pre-IPO secondary deals
Urban Company 's founders — Abhiraj Singh Bhal , Raghav Chandra , and Varun Khaitan — sold shares worth nearly Rs 780 crore through secondary transactions ahead of filing the at-home services platform's draft red herring prospectus (DRHP). #Pahalgam Terrorist Attack India stares at a 'water bomb' threat as it freezes Indus Treaty India readies short, mid & long-term Indus River plans Shehbaz Sharif calls India's stand "worn-out narrative" According to the DRHP, each founder sold shares worth close to Rs 260 crore between September 2024 and February 2025 through multiple transactions. Sources said a portion of the post-tax proceeds was used to fund payments for shares allotted to them during a 2019 rights issue. These shares were partly paid-up at the time and required full payment prior to the company going public. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Google Brain Co-Founder Breaks His Silence: Read These 5 Books And Turn Your Life Around Blinkist: Andrew Ng's Reading List Undo The founders are not participating in the offer-for-sale (OFS) component of the IPO . Among the buyers of these shares are Prosus Ventures, Dharana Capital, Think Investments, former ITC executive Sanjiv Rangrass, and SailThru Ventures. Live Events Swiggy founder and group CEO Sriharsha Majety also acquired Urban Company shares worth Rs 88 lakh. Swiggy recently launched Pyng , a marketplace focused on professional white-collar services such as legal, accounting, nutrition and therapy. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Following these secondary transactions, Bhal, Chandra, and Khaitan collectively hold around 20% stake in Urban Company. The company filed for a Rs 1,900-crore IPO on Monday, comprising a Rs 429-crore primary issue and a Rs 1,471-crore OFS by investors such as Accel , Tiger Global, and Elevation Capital. Last year, Dharana Capital had picked up shares worth nearly Rs 400 crore from Urban Company's employees and early backers, including Snapdeal founders Kunal Bahl and Rohit Bansal. The duo reportedly exited with a nearly 200x return on their nine-year-old seed investment. Turning profitable Urban Company swung to a net profit of Rs 242 crore during the first nine months of FY25, compared to a net loss of Rs 58 crore during the same period a year earlier. The company recorded a Rs 215-crore deferred tax credit during the period, but also turned profitable on a pre-tax basis. Operating revenue grew 41% year-on-year to Rs 846 crore during April-December 2024. Urban Company reported 6.51 million annual transacting customers and 48,169 average monthly active service professionals during the period. Its Native business — which includes water purifiers and smart locks — recorded a net transaction value of Rs 102 crore and revenue of Rs 76 crore during the nine-month period.
Economic Times
22-04-2025
- Business
- Economic Times
Defence tech startup Vayudh raises $10 million from Dharana Capital, Zomato's Deepinder Goyal, others
Home-grown defence technology company Vayudh has raised $10 million in a funding round led by Vy Capital's offshoot Dharana Capital. ADVERTISEMENT The round also saw participation from Zomato founder and chief executive Deepinder Goyal, along with other investors. Vayudh had earlier raised funds from Florintree Advisors. The funds will be used for strengthening R&D capabilities, scaling up manufacturing infrastructure, and accelerating deployments with India's defence forces. 'This funding marks a pivotal step in our journey to develop indigenous, cutting-edge defence drone technology of global standards. We remain focused on deepening our R&D pipeline and scaling manufacturing to meet growing demand from India's defence sector,' said chief executive Tanmay in 2016 by Bunkar, Anuj Barnwal, and Sarita Ahlawat, Vayudh has built strong capabilities in swarm drone technology, with over 3,00,000 autonomous flying hours across defence use cases as well as commercial applications like drone shows and industrial company recently launched Atri, a nano drone specifically designed for precision surveillance and reconnaissance operations. ADVERTISEMENT Commenting on the investment, Vamsi Duvvuri, founder and managing partner, Dharana Capital, said, 'India's rising defence spend and push for indigenisation have opened a rare window to build world-class defence tech locally. The Vayudh team brings exceptional technical depth in drone technology -- their swarming tech is field-tested, mission-ready, and built in India. 'What excites us is the team's deep technical rigour and relentless drive to address India's defence needs through home-grown intellectual property,' said Mathew Cyriac, founder of Florintree Advisors. ADVERTISEMENT On April 16, drone startup Garuda Aerospace, backed by former Indian cricket team captain Mahendra Singh Dhoni, raised Rs 100 crore in a funding round from early-stage investor Venture Catalysts.
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Business Standard
22-04-2025
- Business
- Business Standard
Vayudh raises $10 million in funding round led by Dharana Capital
Homegrown defence technology company Vayudh on Tuesday said it has raised $10 million in a funding round led by Dharana Capital. The round also saw participation from Deepinder Goyal, founder and chief executive officer of Zomato (now Eternal); Ajay Aggarwal (Action TESA); Sumit Jalan; LetsVenture; and Navam Capital. The company had earlier raised funds from Florintree Advisors. The funds will be used to deepen the company's research and development (R&D) capabilities, expand manufacturing infrastructure, and accelerate deployments with India's defence forces. Vayudh, the defence vertical of BotLab Dynamics Private Limited, is a startup from IIT Delhi, building indigenous drone platforms for real-time battlefield intelligence, surveillance and reconnaissance. ALSO READ: Founded in 2016 by Tanmay Bunkar, Anuj Barnwal and Sarita Ahlawat, Vayudh has developed expertise in swarm drone technology, with over 300,000 autonomous flying hours in defence and other commercial applications like drone shows and industrial surveying. The company recently launched Atri, India's first nano drone for precision surveillance and reconnaissance operations. In 2023, Vayudh was awarded the iDEX (Innovations for Defence Excellence) grant to develop India's smallest surveillance drone. Commenting on the announcement, Tanmay Bunkar, chief executive officer of Vayudh, said, 'This funding marks a pivotal step in our journey to develop indigenous, cutting-edge defence drone technology of global standards. We remain focused on deepening our R&D pipeline and scaling manufacturing to meet growing demand from India's defence sector.' Vamsi Duvvuri, founder and managing partner of Dharana Capital, said, 'India's rising defence spend and push for indigenisation have opened a rare window to build world-class defence tech locally. The Vayudh team brings exceptional technical depth in drone technology — their swarming tech is field-tested, mission-ready and built in India. We are excited to be part of their growth journey.'
Time of India
22-04-2025
- Business
- Time of India
Defence tech startup Vayudh raises $10 million in round led by Vy Capital's offshoot Dharana Capital
Home-grown defence technology company Vayudh has raised $10 million in a funding round led by Vy Capital's offshoot Dharana Capital . The round also saw participation from Zomato founder and chief executive Deepinder Goyal, along with other investors. Vayudh had earlier raised funds from Florintree Advisors. The funds will be used for strengthening R&D capabilities, scaling up manufacturing infrastructure, and accelerating deployments with India's defence forces. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Join new Free to Play WWII MMO War Thunder War Thunder Play Now Undo 'This funding marks a pivotal step in our journey to develop indigenous, cutting-edge defence drone technology of global standards. We remain focused on deepening our R&D pipeline and scaling manufacturing to meet growing demand from India's defence sector,' said chief executive Tanmay Bunkar. Founded in 2016 by Bunkar, Anuj Barnwal, and Sarita Ahlawat, Vayudh has built strong capabilities in swarm drone technology, with over 3,00,000 autonomous flying hours across defence use cases as well as commercial applications like drone shows and industrial surveys. Live Events The company recently launched Atri, a nano drone specifically designed for precision surveillance and reconnaissance operations. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Commenting on the investment, Vamsi Duvvuri, founder and managing partner, Dharana Capital, said, 'India's rising defence spend and push for indigenisation have opened a rare window to build world-class defence tech locally. The Vayudh team brings exceptional technical depth in drone technology -- their swarming tech is field-tested, mission-ready, and built in India. 'What excites us is the team's deep technical rigour and relentless drive to address India's defence needs through home-grown intellectual property,' said Mathew Cyriac, founder of Florintree Advisors. On April 16, drone startup Garuda Aerospace, backed by former Indian cricket team captain Mahendra Singh Dhoni, raised Rs 100 crore in a funding round from early-stage investor Venture Catalysts .
