Naman Finance, SIDBI invest in space tech startup Digantara

Spacetech startup Digantara has raised Rs 15.54 crore or $1.88 million in an extended Series A funding led by Naman Finance and Investment Private Limited (NFAI) with the participation of SIDBI Venture Capital.

The board at Digantara has passed special resolutions to issue 20 equity shares and 622 Series A1 compulsory convertible preference shares (CCPS) at an issue price of Rs 2,42,122 per share to raise Rs 15.54 crore, as per the company’s regulatory filings with the Registrar of Companies.

NFAI led the round with a Rs 8.3 crore investment, while SIDBI Venture Capital poured in the remaining amount.

As per startup intelligence platform TheKredible, Digantara has been valued at around Rs 590 crore or $71 million (post-money), which is roughly 2X of the valuation from the previous funding round.

Capillary Technologies set to raise $90-100 Mn via secondary

Customer loyalty and engagement technology solutions provider Capillary Technologies is all set to raise $90-100 million in a secondary round, sources aware of the development told Entrackr.

“Existing investors are selling their stakes in Capillary, and this is an extension to the previous round,” said one of the sources requesting anonymity.

In June 2023, Capillary announced the closure of its $45 million series D round from Avataar Ventures along with its LPs (Pantheon, 57Stars, and Unigestion), Filter Capital, and Innoven Capital.

Capillary offers a comprehensive view of consumers, and unified, cross-channel strategies that deliver a real-time omnichannel, personalized, and consistent experience for customers. It has a presence across the United States, India, the Middle East, Asia, et al.

Founded by Aneesh Reddy, Krishna Mehra, and Ajay Modani, the company works with over 100 loyalty programs, and over 250 brands including the likes of Tata, PUMA, Shell, Al-Futtaim among others.

As per sources, Capillary is likely to close this transaction soon.

Shadowfax raises $100 Mn in Series E round led by TPG NewQuest

Logistics company Shadowfax on Tuesday announced the closing of its Series E funding round at $100 million. TPG NewQuest led the funding round while existing investors including Mirae Asset Venture Investments, Flipkart, International Finance Corporation, Nokia Growth Partners, Qualcomm, and Trifecta Capital also participated.

This round comprised primary, secondary, and venture debt financing. Eight Roads Ventures, the company’s first institutional investor, also made a partial exit.

The latest capital pushed Shadowfax closer to unicorn status as the firm was valued at around $600 million during the first tranche of the Series E round. Entrackr exclusively reported the development in July 2022.

Shadowfax will utilize the funds to reinforce its middle-mile network and extend its last-mile delivery services to cover all 20,000 pin codes across India over the next 18 months, the company said in a statement.

Electric mobility startup Yulu raises $19.25M led by Magna and Bajaj Auto Ltd

Electric mobility startup Yulu has raised $19.25 million in a fresh round of equity funding led by existing investors Magna and Bajaj Auto Ltd.

The raised capital will help the startup expand its fleet of electric vehicles (EVs) and operational locations and further innovate its products and technology. The funding comes as Yulu aims to solidify its position in the urban mobility sector, mainly focusing on environmentally friendly delivery services.

Source: Entracker.