Latest news with #JungleVentures
Mint
4 days ago
- Business
- Mint
Atomberg in talks with investors to realign cap table as it preps for IPO next year
Mumbai: Atomberg Technologies' late-stage investors, Temasek Holdings and Jungle Ventures, are in talks to increase their stake in the smart fan maker by buying shares from early backers as the company gears up for a public listing next year, three people familiar with the matter said. 'These investors are in talks with Whiteboard Capital, Inflexor Ventures and A91 Partners to buy a part stake to increase their shareholding in the company," one of the people cited above said. 'The investors are unlikely to completely exit until or after the IPO (initial public offering) unless they get a good price," the person added. A second person said Atomberg is also in discussions with external investors to discover its valuation amid strong demand for the asset. The $30-40 million round will be largely secondary, with a small primary component, as the company does not currently require fresh capital. 'With these efforts, the company is trying to realign its capitalization table ahead of the listing. Atomberg has also tapped several bankers for an IPO and the appointments will happen in the coming months," according to a third person. Temasek and Atomberg declined to comment on the matter, while Whiteboard, Inflexor and A91 did not immediately respond to Mint's requests for a comment. The development comes over two years after the consumer appliances brand raised $86 million in its series C funding round led by Temasek and Steadview Capital at a valuation of $357 million, according to data from market intelligence provider Tracxn. The round also saw participation from Trifecta Capital and existing investors Jungle Ventures and Inflexor Ventures, through a mix of primary and secondary issuances. Early investors who made a partial exit in this round include A91 and the Gogri family. The company highlighted that it planned to use the proceeds towards boosting manufacturing capabilities, new product launches, deepen offline presence across key regions and consolidate Atomberg's position in the consumer appliance market. The Mumbai-based startup, founded in 2012 by Indian Institute of Technology-Bombay alumni Manoj Meena and Sibabrata Das, started off making smart, energy-saving fans. It has since diversified into smart mixer grinders, water purifiers and other home appliances, for which it needs fresh capital, the people said. With a presence across online and offline distribution centers and a diversified product mix, the company's revenues have been steadily increasing. Das highlighted that the company has crossed ₹1,000 crore in revenue in FY25 in a LinkedIn post earlier this year. In FY24, it reported a revenue of ₹864.6 crore as compared to ₹649 crore a year earlier. Its losses widened to ₹203.4 crore from a loss of ₹138.4 crore in FY23, Tracxn data showed. Redseer estimated that the overall Indian appliances and electronics market is set to nearly double from $75 billion in 2024 to $130-150 billion by 2029 at a compounded annual growth rate of 12-15%. This will be driven by consumers increasingly seeking convenience-led lifestyle, awareness around health and wellness which is expected to aid demand for appliances like air fryers, juicer-grinders, and purifiers and premiumization purchasing patterns across the board, the consultancy firm said in a report last month.
Entrepreneur
22-07-2025
- Business
- Entrepreneur
Escape Plan and Plenome Technologies Raise Early-Stage Funding
The below brands have announced their latest funding rounds. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Travel Startup Escape Plan Secures USD 5 Mn Funding Escape Plan has raised USD 5 million in a seed round from Jungle Ventures' First Cheque@Jungle initiative and Fireside Ventures. The Bengaluru-based travel and lifestyle startup plans to use the funds to deepen its inventory, form strategic brand partnerships, and expand its quick commerce and retail presence. Founded in 2025 by Abhinav Pathak and Abhinav Zutshi, Escape Plan operates as a multi-brand travel platform. It offers a wide selection of travel products including luggage, backpacks, passport covers, and neck pillows, all with an aim of two-hour delivery. "Our focus is not just on luggage but on solving every small travel need with a tailored approach. We are building a platform that includes a rewards system and services such as second-hand purchases and refurbishments," said Abhinav Pathak, Co-founder and CEO. Pathak earlier founded Perpule, a retail tech firm acquired by Amazon in 2021. Zutshi brings more than ten years of experience in retail, having worked with Landmark Group and Forever 21. Escape Plan aims to scale through a hybrid retail model combining physical stores, local delivery, and immersive shopping experiences. The startup is targeting over 100 stores in the next two years. Rishab Malik of Jungle Ventures said the founders' approach stands out in an underserved category for Indian consumers seeking global-quality travel products. IIT Madras-Incubated Plenome Secures INR 6.5 Cr Funding for Global Push Plenome Technologies has secured INR 6.5 crore in a seed funding round from a mix of Indian and international investors. The round was led by Ovington Capital Partners from Luxembourg, with participation from UAE-based AADI and angel investor Manish Gandhi. The funds will be used to fuel the company's expansion into global markets and strengthen its blockchain and artificial intelligence solutions across healthcare, organ donation, and remote voting sectors. The company was founded by Shanti Swarup Bhatnagar Award recipient Professor Prabhu Rajagopal along with Vijayaraja Rathinasamy and Anirudh Varna. Incubated at the Indian Institute of Technology Madras, Plenome Technologies focuses on developing secure, scalable, and interoperable digital infrastructure for managing sensitive data. Its key offerings include BlockTrack OrganEase, a platform currently in pilot testing with a state transplant authority to manage organ donation systems. Another product, BlockVote, is a remote voting solution that has already been deployed at IIT Madras and is now being considered for use in enterprise elections. Plenome is also piloting Ashwin, an AI-powered suite for capturing structured and multilingual health data in dental clinics. Plans are underway to extend this technology to areas such as eye care, fertility, and cosmetic treatments. The startup integrates distributed ledger technology with artificial intelligence to ensure secure data management and user privacy.
Time of India
22-07-2025
- Business
- Time of India
New-age travel accessories platform Escape Plan raises $5 million from Jungle Ventures, Fireside Ventures
Launched in May 2025, the Bengaluru-based company sells travel bags and accessories for everyday as well as vacation travel. The fresh funds will be used to expand its retail footprint, acquire customers, and launch its quick commerce services. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads New-age travel accessories platform Escape Plan has raised $5 million in a funding round led by Jungle Ventures via First Cheque@Jungle and Fireside Ventures . The round also saw participation from other angel Cheque@Jungle is Jungle Venture's platform for funding second-time founders and seasoned operators at the idea, pre-seed, and seed in May 2025, the Bengaluru-based company sells travel bags and accessories for everyday as well as vacation travel. Its products include luggage bags, backpacks, laptop bags, gym bags, neck pillows, passport covers, belts, wallets, and other travel-related necessities.'The focus is on solving all the travel needs of every consumer in India and eventually globally. We have launched recently and are already seeing good early traction,' said Abhinav Pathak, cofounder of Escape Plan, in a conversation with ET. 'We have a few stores set up in six to seven cities and are aggressively scaling this to expand to over 100 stores in the next 18-24 months because 65-70% of the travel category is still offline.'Besides expanding its retail footprint, the company will utilise the funds for customer acquisition and to launch its quick commerce services.'The majority of our capital will go into capacity and production planning as we are signing up with some popular brands and building quick commerce capabilities to deliver in one to two hours in key cities,' Pathak said.'With the global travel accessories market exceeding $20 billion and a founding team with such operational depth, we are confident that Escape Plan has the ingredients to build an influential brand from India,' said Rishab Malik, partner, Seed investments, at Jungle Ventures, in a prepared statement.'With its sharp brand vision, omnichannel strategy, and strong founding team, we believe Escape Plan is poised to become a category-defining lifestyle brand with global relevance,' said Vinay Singh, partner, Fireside Plan sells on its platform products manufactured in-house as well as by other (D2C) luggage brand Mokobara—backed by Peak XV Partners—Nasher Miles, Uppercase, and Acefour Accessories are some popular new players in the travel bags and accessories Plan was founded by Abhinav Pathak, previously founder of Perpule, and Abhinav Zutshi, who has previously worked with Big Bazaar, Best Seller Group, Forever 21, and Landmark cofounded Perpule in late 2016, which built mobile point of sale (PoS) software for offline stores, which was acquired by Amazon in 2021.
Economic Times
10-07-2025
- Business
- Economic Times
Partners Group to acquire majority stake in Infinity Fincorp for Rs 1,950 crore
ETtech Shrikant Ravalkar, Founder, MD & CEO Infinity. Swiss private equity firm Partners Group will acquire a majority stake in Infinity Fincorp Solutions, a Mumbai-based non-bank lender focused on MSMEs, through an investment of Rs 1,950 crore (around $230 million), the companies said on deal, which includes participation from existing shareholder Jungle Ventures, comprises a primary infusion of Rs 600 crore ($70 million) and a secondary purchase of shares from Indium IV (Mauritius) Holdings and other shareholders. ET first reported on the potential transaction on June 20. 'Infinity Fincorp Solutions, a leading non-bank lender in India, has entered into a share purchase and subscription agreement with Partners Group, whereby Partners Group will acquire a significant majority stake in the company,' said the joint statement issued by the two companies on Fincorp plans to use the fresh capital to expand its branch network, invest in technology, and improve customer onboarding and experience. The investment is subject to regulatory approvals. 'We are dedicated to empowering entrepreneurs and business owners across Tier 3 towns in India through flexible, need-based lending solutions that are designed to create a long-term impact,' said Shrikant Ravalkar, founder, managing director and CEO of Infinity Fincorp. 'We welcome Partners Group and intend on leveraging their operational expertise to further broad base our mission of serving the Indian MSME sector.' Founded in 2017, Infinity Fincorp provides secured loans to micro, small, and medium enterprises, primarily in tier II and tier III cities. The company has more than Rs 1,200 crore ($140 million) in assets under management, around 50,000 customers, and operates over 120 branches across eight states. Its customer base spans sectors such as agriculture, manufacturing, and trading. "The MSME segment contributes a significant share of national GDP, and we expect demand for credit will continue to rise. We believe non-bank lenders such as Infinity have advantages in catering to these enterprises due to their highly specialised operations, which are better suited to providing customised solutions,' said Vageesh Gupta, managing director, private equity, Partners to Tracxn, Infinity Fincorp posted a net profit of Rs 25.72 crore in FY24, on revenue of Rs 143.7 latest funding comes after Infinity Fincorp raised $40 million in an extended Series A round in April that was led by Beams Fintech Fund, with participation from True North, Jungle Ventures, and Archerman Capital. In January, the company had raised $35 million from Jungle Ventures, Archerman Capital, and Magnifico. Partners Group, which manages over $150 billion in assets globally, has previously invested in Indian companies such as Darwinbox, Ecom Express, and Vishal Mega Mart. In April, the firm exited Ecom Express by selling its stake to Delhivery in an all-cash deal worth Rs 1,407 crore, alongside co-investors Warburg Pincus and British International Investment. The firm has deployed $2.5 billion in India to date. Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. Markets need to see more than profits from Oyo Can Grasim's anti-competition charge against Asian Paints stand amid intense war Engine fuel switches or something else? One month on, still no word on what crashed AI 171 Delhivery survived the Meesho curveball. Can it keep on delivering profits? Stock Radar: Page Industries breaks out from Cup & Handle formation; stock hits fresh 52-week high For risk-takers with ability to stay invested for the long term: 5 small-caps from different sectors with upside potential of 5 to 32% Multibagger or IBC - Part 14: This auto ancillary with double-digit net margins is now getting EV-focused These mid-cap stocks with 'Strong Buy' & 'Buy' recos can rally over 25%, according to analysts
Time of India
10-07-2025
- Business
- Time of India
Partners Group to acquire majority stake in Infinity Fincorp for Rs 1,950 crore
The deal, which includes participation from existing shareholder Jungle Ventures, comprises a primary infusion of Rs 600 crore ($70 million) and a secondary purchase of shares from Indium IV (Mauritius) Holdings and other shareholders. Infinity Fincorp plans to use the fresh capital to expand its branch network, invest in technology, and improve customer onboarding and experience. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Swiss private equity firm Partners Group will acquire a majority stake in Infinity Fincorp Solutions, a Mumbai-based non-bank lender focused on MSMEs, through an investment of Rs 1,950 crore (around $230 million), the companies said on deal, which includes participation from existing shareholder Jungle Ventures, comprises a primary infusion of Rs 600 crore ($70 million) and a secondary purchase of shares from Indium IV (Mauritius) Holdings and other shareholders. ET first reported on the potential transaction on June 20.'Infinity Fincorp Solutions, a leading non-bank lender in India, has entered into a share purchase and subscription agreement with Partners Group, whereby Partners Group will acquire a significant majority stake in the company,' said the joint statement issued by the two companies on Fincorp plans to use the fresh capital to expand its branch network, invest in technology, and improve customer onboarding and experience. The investment is subject to regulatory approvals.'We are dedicated to empowering entrepreneurs and business owners across Tier 3 towns in India through flexible, need-based lending solutions that are designed to create a long-term impact,' said Shrikant Ravalkar, founder, managing director and CEO of Infinity Fincorp. 'We welcome Partners Group and intend on leveraging their operational expertise to further broad base our mission of serving the Indian MSME sector.'Founded in 2017, Infinity Fincorp provides secured loans to micro, small, and medium enterprises , primarily in tier II and tier III cities. The company has more than Rs 1,200 crore ($140 million) in assets under management, around 50,000 customers, and operates over 120 branches across eight states. Its customer base spans sectors such as agriculture, manufacturing, and trading."The MSME segment contributes a significant share of national GDP, and we expect demand for credit will continue to rise. We believe non-bank lenders such as Infinity have advantages in catering to these enterprises due to their highly specialised operations, which are better suited to providing customised solutions,' said Vageesh Gupta, managing director, private equity, Partners to Tracxn, Infinity Fincorp posted a net profit of Rs 25.72 crore in FY24, on revenue of Rs 143.7 latest funding comes after Infinity Fincorp raised $40 million in an extended Series A round in April that was led by Beams Fintech Fund, with participation from True North, Jungle Ventures, and Archerman Capital. In January, the company had raised $35 million from Jungle Ventures, Archerman Capital, and Group, which manages over $150 billion in assets globally, has previously invested in Indian companies such as Darwinbox, Ecom Express, and Vishal Mega Mart . In April, the firm exited Ecom Express by selling its stake to Delhivery in an all-cash deal worth Rs 1,407 crore, alongside co-investors Warburg Pincus and British International Investment. The firm has deployed $2.5 billion in India to date.
