Delhivery’s ESOP Expansion, Neo Asset’s Maiden Credit Fund, boAt Eyes IPO and more

MyGate's founder shifts gears to lead Aurm, Delhivery empowers employees with ESOP expansion, while Neo Asset wraps up a massive maiden credit fund. Nazara's NODWIN Gaming expands reach with acquisition, Unifi Capital unveils GIFT City funds for global ventures. Mamaearth's parent sees market fluctuations post-block deal, and boAt eyes IPO amidst talks of fundraise.

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What Matters

“Aasman Ki Uunchai”: MyGate Founder Vijay Arisetty Joins Aurm As CEO & Founder

Vijay Arisetty, the visionary behind MyGate, has taken the helm at Aurm as its new CEO and founder, marking an exciting shift from his previous advisory role.

Teaming up with Ganesh Balakrishnan, former Flatheads founder, Aurm aims to revolutionize safe deposit storage by partnering with banks to offer secure spaces for individuals. Following Aurm's February launch, Arisetty seamlessly transitioned from MyGate's CEO to the chairman of its board.

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“Badhai Ho Badhai”: Delhivery Expands ESOP Pool, Allots Over 11 Lakh Stock Options

Delhivery is ramping up its employee engagement by expanding its ESOP pool, allotting over 11 lakh stock options across its 2012, 2020 II, and 2020 III schemes.

These newly allotted ESOPs are valued at nearly INR 43 Cr, based on the latest stock closing price. Despite reporting a consolidated net loss of INR 69 Cr in Q4 FY 2023-24, following a net profit of INR 11.7 Cr in the previous quarter.

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“Touchdown”: Neo Asset Marks Final Close Of Maiden Credit Fund At INR 2,575 Cr

Neo Asset has celebrated the final close of its maiden credit fund, Neo Special Credit Opportunities Fund, at a substantial INR 2,575 Cr. This Category II AIF aims to support profitable entities, having already backed 12 companies and made two successful exits in just 15 months.

Neo is targeting an impressive internal rate of return (IRR) of 22-24% for its investors through these strategic investments.

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“Dekho, Magar Pyaar Se”: Nazara’s NODWIN Gaming Buys Ninja Global FZCO For $3.57 Mn

Nazara's NODWIN Gaming recently acquired Ninja Global FZCO for $3.57 Mn, finalizing the deal on June 7 through a secondary transaction. The acquisition involved a cash payment of $1.32 Mn and the remaining $2.24 Mn through the issuance of preference shares.

This strategic buyout aims to bolster NODWIN’s global emerging market delivery network, enhancing its ability to offer superior solutions to publishers and brands in the Middle East and Turkey.

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“Judwaa”: Unifi Capital Launches Two GIFT City Funds To Tap Global Investment Opportunity

Unifi Capital has launched two GIFT City funds to seize global investment opportunities.

The first fund targets Indian growth businesses benefiting from demographic shifts and sectoral reforms, while the second helps Indian HNIs diversify their portfolios with top global companies for enhanced risk-adjusted returns.

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“Bhaari Nuksaan Ho Gaya”: Mamaearth Parent Honasa Shares Tank 4% Post Major Block Deal

Mamaearth parent Honasa's shares plunged 4% following a major block deal, opening at INR 440.60 compared to the previous close of INR 457.70.

By 10:00 AM on Tuesday, shares were trading at INR 441.35. Exchange data revealed that 66.2 lakh shares, representing 2% equity, changed hands in this significant transaction.

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“Mauka Pe Chauka”: boAt In Talks To Raise Funds, Eyes IPO In The Next 12-18 Months

boAt is gearing up for a strategic fundraise as it eyes an IPO in the next 12-18 months, according to cofounder and CEO Sameer Mehta.

The startup aims to raise INR 2,000 Cr through the IPO, despite having slipped into the red for the first time in FY23 with a net loss of INR 129.4 Cr, compared to a net profit of INR 68.7 Cr in FY22. This move highlights boAt's commitment to long-term growth and market expansion.

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1. English tutoring startup Clapingo has secured INR 2.2 Cr in Pre-Series A funding from investors like Sandeep Aggarwal, Biswa Kalyan Rath, and Appurv Gupta. This funding will be used to enhance product offerings and expand its user base.

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2. Battery Smart has secured $65 million in a Series-B funding round led by LeapFrog Investments, with participation from new and existing investors like MUFG Bank, Panasonic, EIF, Blume Ventures, and BII.

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3. Swedish EV maker Clean Motion's Indian arm has secured funding to establish a manufacturing plant in Pune, scaling up operations and expanding its team. The company also plans to raise a Pre-Series round of $3 Mn to $5 Mn next year, focusing on manufacturing electric three-wheelers.

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4. Innoviti has commenced the second close of its Series E fundraise, aiming to reach INR 115 Cr by June-end, with potential IPO plans on the horizon. Since April, the company has garnered INR 40 Cr in commitments from investors like Bessemer and Patni.

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5. JCB Salons India secures Rs 40 Cr from Blacksoil to fuel strategic expansion, including the acquisition of Spalon for a foray into South India, signaling ambitious growth plans. This infusion underscores JCB's commitment to enhancing its presence and services in the Indian salon industry.

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6. C3 Med-Tech, based in Ahmedabad, raises undisclosed funds from Industrial Metal Powders to introduce telemedicine and AI-enabled portable devices for efficient and real-time eye screenings, aiming to revolutionize healthcare accessibility and early disease detection.

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