Latest news with #Z47
Time of India
an hour ago
- Business
- Time of India
NBFC Seeds Fincap raises Rs 50 crore funding in round led by Z47, Lok Capital
Gurugram-based non-banking financial company ( NBFC Seeds Fincap has raised Rs 50 crore in a funding round led by existing investors Z47 and Lok investors Norinchukin Capital and Alteria Capital joined the round, which has taken place ahead of the company's planned Series B Fincap focuses on providing credit to underserved micro, small, and medium enterprises ( MSMEs ) across India, using technology to reach customers and monitor its NBFC closed FY25 profitably, disbursing over Rs 1,000 crore in loans. The company manages over Rs 500 crore in assets, and has maintained non-performing assets (NPAs) consistently below 2%, according to a statement it put out. Seeds Fincap branches have reached over 50,000 borrowers, many of whom are first-time formal credit NBFC's approach is aimed at supporting financial inclusion and grassroots entrepreneurship. The company provides tailored financial solutions and credit to small businesses, with a focus on sustainable growth and promoting local economies. Anish Patil , vice president at Z47, said, 'Seeds Fincap's deep focus on tech-enabled field operations and strong hold on credit underwriting, coupled with rigorous portfolio monitoring and a diversified presence have helped deliver superlative asset quality in a testing market.'
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Business Standard
2 hours ago
- Business
- Business Standard
AI entertainment startup Dashverse raises $13 mn to power GenAI content
Dashverse, an artificial intelligence (AI) entertainment company that develops platforms for mobile-first entertainment, on Tuesday announced it has closed a $13 million Series A funding round. The investment was led by Peak XV Partners, with participation from Z47 (formerly Matrix Partners India) and Stellaris Venture Partners. With the fresh capital, the company plans to strengthen its core AI technology and drive product innovation for AI-generated, mobile-first storytelling. DashReels crosses five million downloads in a month The funding comes as DashReels, the company's new micro drama application, surpassed five million downloads within a month of launch. According to Dashverse, demand for mobile-native episodic content such as micro dramas has been growing globally, creating a significant opportunity for storytelling in this emerging entertainment format. From digital comics to integrated video platforms The Bengaluru-headquartered company first proved its model with Dashtoon, an AI-powered platform for creating and distributing digital comics. Building on that success, it adopted an integrated approach to video with enabling creators to generate high-quality serialised content, followed by DashReels to distribute mobile-first micro dramas. Together, Dashverse's platforms have more than 20 million users worldwide. Founded in 2023 with a focus on creators Established in 2023 by Sanidhya Narain, Lalith Gudipati, and Soumyadeep Mukherjee, Dashverse enables creators to develop, publish, and monetise stories across formats such as comics and micro dramas. Generative AI to unlock the next wave of storytelling Commenting on the fundraise, Narain, co-founder and chief executive officer, said: 'We are entering a new era where content creation is no longer gated by resources but by imagination. Just as camera phones turned everyone into a creator and unlocked platforms like Instagram and TikTok, generative AI will do the same for storytelling — but with far more powerful formats. This funding fuels our mission to build the creative infrastructure for this shift, where mobile-first, serialised content becomes the default, not the exception.'
Entrepreneur
6 days ago
- Automotive
- Entrepreneur
Z47 and Tiger Global Trim Holdings in Ola Electric
Z47 offloaded around 0.81 percent of its stake in the electric two wheeler maker, while Tiger Global trimmed its holding by 0.21 percent. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Venture capital firm Z47 and hedge fund Tiger Global have reduced their shareholding in Bengaluru headquartered Ola Electric during the first quarter of the current financial year, according to data from stock exchanges. Z47 offloaded around 0.81 percent of its stake in the electric two wheeler maker, while Tiger Global trimmed its holding by 0.21 percent. Based on the transaction value, Z47, earlier known as Matrix Partners India, is estimated to have realised between INR 155 crore and INR 192.9 crore from the sale. Tiger Global, which holds its stake through Internet Fund III, is understood to have earned between INR 39 crore and INR 48.7 crore. The stake sale follows the exit of South Korean automobile companies Hyundai and Kia from Ola Electric in June through open market deals. Hyundai sold shares worth INR 552 crore, fully divesting its holding, while Kia disposed of shares valued at INR 137.3 crore. Z47 and Tiger Global were among the early investors in Ola Electric, participating in its Series A funding round in 2019 when the company raised USD 56 million. Tiger Global also invested further in 2023 during Ola Electric's USD 140 million Series E fundraise, according to market intelligence platform Tracxn. Z47 has also backed Ola's ride hailing business Ola Consumer and founder Bhavish Aggarwal's artificial intelligence venture Krutrim. The share sales come at a challenging time for Ola Electric. The company reported a sharp 50 percent fall in operating revenue to INR 828 crore in the April to June quarter, as vehicle deliveries dropped to 68,192 units from 1,25,198 units in the same period last year. Net loss widened to INR 428 crore from INR 347 crore a year earlier. Ola Electric's stock has declined 52 percent this year, closing at INR 40.86 on Tuesday.
Time of India
6 days ago
- Automotive
- Time of India
Ola Electric's early investors Z47 and Tiger Global trim stakes amid profitability pivot
Two of Ola Electric Mobility's early backers — venture capital firm Z47 (formerly Matrix Partners India) and hedge fund Tiger Global Management — have pared down their holdings in the electric two-wheeler maker during the April-June quarter, according to recent regulatory disclosures. Z47 offloaded less than 1 per cent of its stake in the company, netting up to ₹187 crore, ETTech reports It now holds a 1.93 per cent stake — around 8.5 crore shares — valued at approximately ₹347 crore at the current market price of ₹41 per share. The VC firm had first invested in Ola Electric in 2019, with a total infusion of ₹107 crore, and continues to hold positions in Ola's ride-hailing arm and the AI venture Krutrim. The trimming comes amid a broader strategy shift at Z47, which is also reducing exposure in other startups like OfBusiness, Razorpay and Dailyhunt to unlock around $150–180 million, as reported earlier by ET. Meanwhile, Tiger Global also reduced its stake in Ola Electric to 3.24 per cent from 3.45 per cent in the same period. Its holding is now valued at around ₹585 crore through its Internet Fund III. Earlier in June, Hyundai Motor Company and Kia Corporation also exited a part of their investments, selling about 10.88 crore and 2.7 crore shares respectively, earning ₹552 crore and ₹137 crore. Ola Electric Shifts Focus to Sustainable Growth The investor exits come as Ola Electric reorients its strategy towards profitability amid rising competition in India's electric two-wheeler (E2W) segment. The company posted a wider net loss of ₹428 crore in the April-June quarter, compared to ₹347 crore a year earlier. However, this marked a sharp improvement from the ₹870 crore loss in the January-March quarter. Revenue also dipped, with the company reporting ₹828 crore in Q1, down from ₹611 crore in the previous quarter. The company's annual event, Sankalp 2025, scheduled for August 15, is expected to lay out Ola Electric's future roadmap as it navigates the next phase of EV growth in India.
Time of India
7 days ago
- Automotive
- Time of India
Ola Electric early investors Z47, Tiger Global pare stakes
Two early backers of Ola Electric Mobility, venture capital firm Z47 and hedge fund Tiger Global Management , have cut their stakes in the electric two-wheeler (E2W) maker between April and June this year, according to shareholding data with stock exchanges.Z47, formerly known as Matrix Partners India, sold less than a 1% stake in Ola Electric during the three months to June. It earned up to Rs 187 crore from this share investor now holds a 1.93% stake, or around 8.5 crore shares, in the electric scooter maker. At the last closing price of Rs 41 per share, this amounts to Rs 347 crore.Z47 first invested in Ola Electric in 2019, putting in a total of Rs 107 crore. The venture capital firm is also invested in the ride-hailing arm Ola Cabs and the AI venture Krutrim. ET reported in October last year that Z47 is trimming stake in Ola, business-to-business (B2B) commerce company OfBusiness, fintech firm Razorpay, and local language content app Dailyhunt, to net $150–180 Tiger Global Management brought down its stake in Ola Electric to 3.24% at the end of June 2025, from 3.45% three months ago. The company now holds Rs 585 crore in the EV maker through its Internet Fund June, Hyundai Motor Company and Kia Corporation sold around 10.88 crore and 2.7 crore shares, respectively, earning Rs 552 crore and Rs 137 Electric's operating revenue for the first quarter nearly halved from a year earlier, and its loss widened, as sales took a hit amid intensified competition in India's E2W market . The company posted a net loss of Rs 428 crore on revenue of Rs 828 crore for the quarter ended June 30. While net loss widened from Rs 347 crore a year earlier, it narrowed to less than half from Rs 870 crore in the January-March quarter. It had posted operating revenue of Rs 611 crore in the March company has now changed tack to target profitability, said founder and managing director Bhavish Aggarwal on an earnings call.'We have transitioned from aggressive penetration to a more balanced, profitable growth strategy,' Aggarwal said. 'The industry is consolidating after a hyper-growth phase and will see another surge in the near future. Until then, it's time to consolidate operations.'
