Pramak Consultants, Pratithi Investment Trust and Indigoedge Management Consultancy have invested INR 3 Cr in Bewakoof
Lightbox and Beeline Impex have invested through venture debt in jewellery brand Melorra
Edtech startup Stones2milestones gets 25 angel investors onboard for funding
Despite the pandemic-induced economic strain on startups and their balance sheets, some companies have managed to secure capital from backers to wade through the chaos. In particular, edtech, enterprise tech and direct-to-consumer (D2C) ecommerce startups have emerged as growth areas. Bewakoof, Melorra, Stones2Milestones and Disprz are among the startups that have raised funding in the past few days as per ministry of coporate affairs filings.
INR 3 Cr For Bewakoof
As per the ministry of corporate affairs filings accessed by Inc42, the board of directors of Bewakoof Brands on June 4, 2020 approved the plan to issue 522 preference shares worth INR 100 at a premium of INR 57482 per share worth INR 3 Cr.
The investment is coming in from Pramak Consultants, Pratithi Investment Trust and Indigoedge Management Consultancy worth INR 1.5 Cr, INR 1 Cr and INR 50 Lakh respectively. Post-investment, Pramak Consultants, Pratithi Investment Trust and Indigoedge Management Consultancy will hold 0.58%, 1.36%, and 0.37% stake respectively.
The company also approved allotment of 869 debentures at a face value of INR 57,582 per debenture worth INR 5 Cr. The funding has been raised for expansion and working capital for the company.
Bewakoof was founded in 2012 by Prabhkiran Singh and Siddharth Munot. It is a direct-to-consumer online fashion retailer. The company started with its focus on theme-based T-shirts and has now branched out into other categories. This includes hoodies and sweaters, joggers, pants and trousers, footwear, mobile covers, notebooks and backpacks. The firm sells most of its merchandise through its website and mobile application.
According to the company website, it has sold over 1 Cr products and has over 60 Lakh app downloads.
Lightbox, Beeline Back Melorra
As per the ministry of corporate affairs filings accessed by Inc42, Melorra-parent August Jewellery private limited on July 20 approved and allotted 1185 debentures worth INR 8.2 Cr to Lightbox and Beeline Impex. The funding has been approved at a nominal value of INR 69125 – INR 69,344 per share.
Overall, the company on June 10 floated an offer to raise $1 Mn from Lightbox and INR 1.75 Cr from Beeline Impex and Chowdry Associates on behalf of Dabur.
Founded in 2016 by Saroja Yeramilli, Bengaluru-based Melorra has been a part of daily-wear gold jewellery. The company sells “trendy and lightweight” jewellery that reflect global minimalist trends. The company uses a computer-aided design (CAD) to directly sell to consumers and claims to have delivered 1,300 Indian towns.
Melorra has its own inhouse designers based in India, the US and the UK. It has two warehouses in Jaipur and Mumbai while the delivery is managed by supply-chain partner Sequel Logistics.
Stones2Milestones Gets 25 Angel Investors Onboard
As per the ministry of corporate affairs filings accessed by Inc42, Stones2milestones Edu Services approved and allotted 6,664 preference shares at a nominal value of INR 1779.95 per share worth INR 1.18 Cr.
The investment has come in from 25 investors including Sachin Uppal, Godspeed Advisors Pte Ltd, Hemant N, Sree Charan among others. Overall, the company has floated an offer to raise INR 1.72 Cr from 30 investors on June 19.
Founded in 2008, Gurugram-based Stone2Milestones aims to encourage reading among school-going children aged 3-9 years using technology products. The startup integrates its program with the early school curriculum. So far the company has reached 100,000 children and about 1,000 teachers as part of its mission. It is aimed at developing children’s skill and will to read in English through innovative methods such as Wing of Words program and the Freedom application.
Apiom Backs HRTech And Training Startup Disprz
As per the ministry of corporate affairs filings accessed by Inc42, the board of directors of Disprx-parent Heuristix Digital Technologies on March 9 approved the resolution to allot 2067 preference shares to Apiom Inc. The investment has been approved at a nominal value of INR 10 with a premium of INR 17389 per share worth INR 3.6 Cr.
The fresh funds will be used for expansion and growth prospects of the company, filings show. Post-investment, Apiom will hold 6.39% stake in the company. Prior to this, the company has issued shares equity and preference shares to GO 1 PTY Ltd and Vistra ITCL acting as trustee of Tara India Fund this year.
Disprz was founded in 2015 by Subramanian Viswanathan and Kuljit Chadha. Disprz delivers to the companies educational and training content through an online learning management system (LMS) that combines onboarding, on-demand knowledge delivery, employee engagement and real-time communication.