Funding Alert
Velocity, a fintech firm, has raised $20 million from Peter Thiel’s Valar Ventures.
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ByDevika S | November 17, 2021
Velocity, a Bengaluru-based intech business, has raised $20 million in a Series A fundraising round headed by Valar Ventures, founded by venture billionaire Peter Thiel.Among those that participated in the round were Presight Capital, Utsav Somani’s iSeed, Maninder Gulati (Oyo), Zac Prince (BlockFi), and Philippe De Mota (Hedosophia).According to the press release, the company plans to invest over Rs 1,000 crore in over 1,000 e-commerce companies.
“Our mission is to pave the way for India’s future business financing.” Since our inception, we’ve been fortunate to work with high-conviction investors like Valar. “By doubling down and leading our Series A, they have reaffirmed their conviction in Velocity,” said Abhiroop Medhekar, Velocity co-founder and CEO.”We’re already India’s largest revenue-based financier, and we’re excited to use this money to construct a slew of world-class products for tens of thousands of new-age companies.”
Velocity, which was founded in 2020, has established revenue-based financing as a viable alternative to venture capital and traditional bank debt for Indian e-commerce companies.
Velocity has raised $30 million in equity capital thus far. In order to rapidly develop its revenue-based financing platform, it has also secured various lending lines from top non-banking financial organisations.
According to Velocity, brands who have previously obtained finance through the company have boosted their revenues by 1.5x within six months of investment, and 78 percent of these brands become return clients.
PowerGummies, Green Soul, WallMantra, BellaVita, Smoor Chocolates, and CrossBeats are among its D2C brands.
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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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