Funding Alert
Clear raises $75M in Series C funding
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ByKhushi Ko | October 25, 2021
Clear announced that it raised $75 million in its Series C round of funding led by Kora Capital, Stripe, Alua Capital, and Think Investments, along with existing investors.
The fintech startup will utilise the capital raised to support its expansion into B2B credit and payment as well as scaling operations internationally.
“India is on a massive digitisation journey and we are fortunate to be in the perfect storm of electronic invoicing, GST, UPI, cheap mobile internet, and rapid adoption of technology due to Covid-19. We are doubling down on our SaaS platform to help businesses with collateral free debt and payments. This funding also gives us fuel for our international expansion.” said Clear founder and CEO Archit Gupta.
The platform aims to support its user base of large enterprises, SMEs, and individuals. The product offerings involve a range of finance based facilities like invoicing, GST, range of managed services & credit, I-T, TDS and wealth management solutions.
Speaking about the investment Nitin Saigal, founder and CIO at Kora stated, “We are excited to partner with Clear as they innovate at scale in the Indian SaaS ecosystem, enabling Enterprises and SMEs to automate their workflows around taxation, invoicing and several other adjacencies. We look forward to Clear’s journey in the Indian and global markets.”
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Clean-label food brand Anveshan has raised Rs 150 crore (nearly $16 million) in a Series B funding round led by Vertex Ventures Southeast Asia & India. The round also saw participation from International Finance Corporation (IFC), Swiggy co-founder Sri Harsha Majety, and existing investors including Wipro Consumer Care Ventures, Titan Capital Winners Fund, Force Ventures, and boAt co-founders Aman Gupta and Sameer Mehta. Entrackr had exclusively reported the development last week. According to Entrackr’s estimates, the funding valued the company at over $90 million. The fresh capital will be used to strengthen manufacturing capabilities, accelerate product development, expand offline distribution, and deepen its digital presence. The company also plans to invest in sourcing infrastructure, procurement systems, quality assurance, and testing capabilities while expanding partnerships with micro entrepreneurs and traditional producers. Founded in 2020 by Kuldeep Parewa, Akhil Kansal, and Aayushi Khandelwal, Anveshan sells minimally processed food products including A2 bilona ghee, cold-pressed oils, raw honey, atta, and other traditional nutrition-focused products. The startup operates through a network of rural producers and micro entrepreneurs across the country. Anveshan claims to be operating at an annual revenue run rate of Rs 280-300 crore and is targeting Rs 1,000 crore in revenue over the next 24-30 months. The company plans to expand its atta portfolio, strengthen its owned digital channels, scale offline distribution, and continue investing in product innovation. For the fiscal year ended March 2025, Anveshan reported a 64.6% increase in operating revenue to Rs 77.08 crore from Rs 46.84 crore in FY24. Its losses widened to Rs 11.88 crore in FY25 from Rs 5.74 crore in the previous fiscal year....
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