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Pine Labs Raises $ 500 Million in Ipo, Zluri, Power Gummies Get Series A Funding, The Eplane Company Raises Pre-Seed Fund to Plot Its Flight Path

Pine Labs seeks $ 500 million for US IPO

Backed by Sequoia India and Mastercard, merchant payments player Pine Labs has reportedly filed for registration in the United States, seeking to raise around $ 500 million, according to one. Bloomberg report. The fintech company could be listed at a valuation of around $ 5.5 billion to $ 7 billion, according to sources cited in the report.

Serving more than 150,000 merchants in India, the Middle East and Southeast Asia, the company is currently valued at $ 3 billion, according to Venture Intelligence. It counts Temasek, Sequoia Capital, Actis, PayPal, Mastercard, Fidelity Management, BlackRock, Ishana, Tree Line and Neuberger Berman Investment Advisers among its investors.

Last year it raised over $ 600 million in funding. Most recently, India’s leading lender, SBI, invested $ 20 million in Pine Labs. At the time of the fundraiser, the company said it was expanding its merchant commerce offerings to offline point of sale, looking to invest in scaling up Plural (new brand of online payment products) and to emerge as an omnichannel partner of choice. for traders. Pine Labs is also expanding its Buy Now Pay Later (BNPL) business in India and South East Asia.

Zluri Raises $ 10 Million Led by MassMutual Ventures

Zluri, a Zluri SaaS management platform, has raised $ 10 million in Series A funding led by MassMutual Ventures with participation from existing investors Endiya Partners and Kalaari Capital. Zluri had already raised $ 2 million from Endiya Partners and Kalaari Capital during his funding round last January.

The company plans to use the additional capital to continue its growth momentum and further strengthen the capabilities of its product. It also plans to expand its teams into the main markets of Asia and North America.

Founded in 2020 by Ritish Puttaparthi, Sethu Meenakshisundaram and Chaithanya Yembari, Zluri offers a platform allowing IT teams to manage all SaaS applications from a single dashboard. Since its inception, it claims to have experienced 100% growth (MoM), attracting over 100 new customers globally in 2021. Some of its customers include ChargeBee, MoEngage, Guesty, and Whatfix.

“We will continue to invest to extend our lead in this area and the current #funding cycle will help us further accelerate our global growth and product innovation,” said Ritish Reddy, co-founder of Zluri.

Power Gummies Raises $ 6 Million Series A From 9Unicorns, Wipro & Others

Power Gummies, a dietary supplement startup, has raised $ 6 million in Series A funding led by 9Unicorns, with participation from Vcats, DSG Consumer Partners, WIPRO Consumers, Sharpp Ventures (Marico Family office) and NB Ventures.

Founded by Divij Bajaj in 2018, Power Gummies offers food supplements in chewable form instead of capsules and tablets. Currently, the brand has four variants and plans to launch 45 more.

“Power Gummies is poised to mark its place on the global nutraceutical industry podium with this new fundraiser. We are extremely happy to roll out new projects such as the introduction of new variants and overseas expansion. “, Divij Bajaj, Founder and CEO, Power Gummies. The nutraceutical industry has grown due to the growing consumer preference for a nutrient-dense diet.

“People have also become aware of the role of nutraceuticals such as Power Gummies, which are gluten-free and vegan. These vitamins and proteins are made into edible gummy candies which can help in the prevention of various diseases. With the huge demand the industry has generated, we will continue to invest in preventative health products, ”said Apoorva Ranjan Sharma, co-founder of Venture Catalyst and 9Unicorns.

The ePlane Company Raises $ 5 Million in Pre-Series A

The ePlane Company, a flying taxi start-up, has raised $ 5 million in pre-Series A funding led by Speciale Invest – a high-tech venture capital firm – and Micelio – a fund focused on electric vehicles and the climate.

A consortium of investors including Naval Ravikant, 3one4 Capital, UTEC (University of Tokyo Edge Capital), Anicut Capital, Infoedge, Prashant Pitti (co-founder of Easemytrip), Thought Ventures, Java Capital and also participated in the tower.

Launched in 2019 by Professor Satya Chakravarthy and Pranjal Mehta to enable air mobility, the startup builds electric planes that can be used for faster trips in cities and to move goods in remote and rural areas. The startup raised $ 1 million in its seed funding round in March of last year. The new capital will be used to hire high-level talent, R&D and product development to obtain airworthiness services and initiate local certification.

“We are currently testing a reduced prototype and expect our first cargo plane to be ready as early as next year. The freight carrier is expected to be deployed by February 2023. The passenger version is expected by December 2024, ”said Satya Chakravarthy, co-founder of The ePlane Company.

Bliv.Club Raises Undisclosed Funding From Polygon Co-Founder Sandeep Nailwal

Bliv.Club, the non-fungible token (NFT) spin-off start-up, announced that it has raised undisclosed pre-seed funding from Sandeep Nailwal, the co-founder of the blockchain scalability platform Polygon. “Bliv expands the reach of the NFT ecosystem. It enables an ordinary person to gain exposure to a complex market in a much simpler and meaningful way,” Nailwal said.

NFTs are unique virtual tokens on the Blockchain infrastructure that represent ownership, proof of existence and allow traceability of any digital or non-digital element. The market size for NFTs reached $ 22 billion in 2021. However, the market for NFTs is complex to navigate for people with limited technical knowledge.

Bliv.Club is a platform that aims to reduce this barrier to entry through various new age instruments as well as facilitate liquidity in the NFT ecosystem through derivatives, the company statement said. It seeks to enable the average person to participate in the NFT marketplace with a small ticket size. Founded by Vikas Singh, Abhishek Kumar Gupta and Mohammed Sirajuddin in 2021, Bliv.Club is in talks with a number of investors to raise a bigger round in the near future.

Crib raises pre-seed funding to create co-living app

Crib, a SaaS-based co-living marketplace, raised $ 400,000 in its pre-seed round led by Pranay Gupta (co-founder, 91Springboard) through his union AngelList 91Ventures.

The cycle also saw the participation of BlackSoil Capital as well as renowned angels like Shashwat Nakrani (co-founder, BharatPe), Jasminder Singh Gulati (co-founder, Nowfloats, acquired by Jio), Ajay Yadav (founder, Roomi), Sarath Sura (Ex-Director, Allahabad Bank), Abdul Paravengal (ex-CBO, Shipper), Rahul Jindal (Director, Google), Uday Arya (Partner, BlueLotus Ventures), Panna Lal Bhansali (ex-President, Guwahati Stock Exchange) , Kushal Khandwala (Director, KIFS Housing Finance Ltd.), Tushar Anand (Alkem Pharma Family & Founder, Cheferd Foods) and others.

Founded by Sunny Garg and Shaifali Jain, Crib creates a complete cohabitation solution comprising property management software coupled with a reseller platform. It operates on a SaaS-based market model. He will use the current increase to build his engineering team, drive product development and integrate the first set of properties in Bangalore, Pune, Hyderabad, Mumbai and Delhi NCR.

“As they run an asset-rich business in a competitive landscape, operators face multiple operational challenges. With Crib, we will automate their business processes and enable them to acquire, manage and retain tenants digitally, ”said Sunny Garg, Co-Founder and CEO, Berceau.


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