Tuesday, June 18, 2024
Outlook India
Outlook Business

Funding Round

This takes the total funding raised by the start-up to $6 million

The module manufacturing company will use the funds for expanding manufacturing capacity by another 1.2 GW p.a.

The four-year-old company currently claims to have established a network of over 350 buses serving more than 500 cities in India

The funds will be used to fuel SimpliContract's growth and expansion in the US and European markets, focusing on sales and marketing efforts, as the platform aims to streamline contract processes and enable real-time collaboration for enterprise customers

The company will also offer a buyback of 100 per cent of vested employee options, benefitting around 30 Souled Store employees

Existing investors are expected to partially exit through a secondary share sale, and the investment is taking place at a valuation of $4 billion. Lenskart aims to continue expanding with 400 new stores and expects to turn profitable in the financial year...

This fresh round of funding takes the total angel investment raised by the company to $2.5 million. Earlier last year, the brand raised a total of $800,000 in investments

Motovolt Mobility will utilise the funds to offer new products and market initiatives

The promoters intend to use the capital to boost marketing efforts, expand their team and improve R&D activities within the Indian kidswear market