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MobiKwik to raise $150 million in funds to compete against Paytm

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8 years ago

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Ever since Demonetization, digital payment startups have seen a huge growth with Paytm recently raising $1.4 billion from SoftBank. The next in line to become a fintech unicorn company seems to be MobiKwik.

Co founder of MobiKwik Upasana Tapu in an interview with TechCrunch confirmed they were looking at raising $150 million from various investors in the next couple of months. With Paytm concentrating on its recently launched Paytm Banks and Paytm Mall, Taku is confident that they can even the playing field. This latest investment round will raise the valuation of MobiKwiki to $1 billion making them the second fintech company in India to join the list of unicorn companies.

Mobikwik was founded in the year 2009 and till date have managed to raise $126.85 million in 6 investment rounds. Speaking to Reuter’s co founder and Chief Executive Bipin Preet Singh said they expect MobiKwik to break even by mid 2018.

PM Narendra Modi’s decision to ban all Rs. 500 and Rs. 1000 notes came as a boon to all digital payment platforms. According to Upasana Taku, their registered user base increased from 25 million to 55 million and their merchant bank increased to 1.5 million.

Neither Upasana Taku nor Bipin Singh were ready to reveal the names of their potential investors saying they included one major strategic investor and various other financial institutions. They did reveal that the capital from this investment will be used to grow user and merchant base and expand their current number of offices to more than 20. 

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Funding

Phab Raises $2M Seed Funding to Expand Healthy Snacking Brand

Published

2 weeks ago

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April 26, 2025

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PHAB

Phab, the D2C healthy snacking brand co-founded by Ankit Chona of ice cream brand Hocco and his wife Gayatri Chona, has raised $2 million (around ₹17 crore) in a seed funding round led by OTP Ventures, with participation from Capri Global, Sim&San law firm, and angel investors.

Founded in 2018, phab offers protein bars and healthy milkshakes, leveraging Ankit’s decade-long food industry experience and Gayatri’s expertise as a certified nutritionist. The brand has sold over 2 million units and sells through e-commerce and quick commerce platforms like Amazon, Flipkart, Zepto, and Blinkit.

Despite a 12% dip in operating revenue to ₹5 crore in FY24, phab trimmed its net loss by nearly 3% to ₹6.8 crore, showing improved efficiency.

The new funds will be used to expand the team, invest in production capacity, and grow phab’s presence across digital, quick commerce, and offline channels. The brand competes with Yoga Bar, Beyond Snack, and The Whole Truth in India’s growing $68 billion healthy snacking market. OTP Ventures’ founding partner Suhail Sameer praised phab’s bold, differentiated approach and the founders’ vision, signaling strong investor confidence in the brand’s growth potential.

 

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Funding

Eat Better Secures ₹17 Crore in Pre-Series A Funding

Published

1 month ago

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April 8, 2025

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Eat Better, a Jaipur-based D2C snacking brand, has raised ₹17 crore in a Pre-Series A funding round co-led by Prath Ventures and Spring Marketing Capital. Founded by Vidushi Kanoria, Mridula Kanoria, and Shaurya Kanoria in 2020, Eat Better specializes in healthy snacks like dry fruit ladoos and nuts.

Key Highlights:

  • Investment Use: Funds will expand Eat Better’s product line and enhance its presence on quick commerce platforms.
  • Market Position: Competes with brands like Happilo and Yoga Bar in the healthy snacking space.
  • Operational Milestones: Fulfills over 2 lakh orders monthly.
  • Financial Performance: Revenue grew nearly threefold to ₹14.47 crore in FY24, with a reduced net loss.

Market Opportunity:

The Indian food and beverages market is projected to reach $68 billion by 2030, positioning Eat Better favorably to capitalize on the demand for healthy snacks. With this funding, Eat Better aims to strengthen its market presence and product offerings.

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Funding

Outzidr Raises ₹30 Crore to Transform Gen Z Fashion

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1 month ago

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April 8, 2025

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Bengaluru-based D2C fashion startup Outzidr, co-founded by Nirmal Jain, Mani Kant Mani, and Justin Mario, has secured ₹30 crore in seed funding led by Stellaris Venture Partners, with participation from angel investors like Ramakant Sharma (Livspace) and Ghazal Alagh (Mamaearth).

Launched in February 2025, Outzidr targets Gen Z women aged 17–27 with affordable occasion-specific apparel such as partywear and travel outfits. The brand introduces over 2,000 new designs monthly and uses a “test-and-react” model to scale popular styles based on early sales data. With an agile inventory cycle of less than three weeks, it plans to shift 90% of manufacturing to India within two years for sustainability.

The funds will bolster supply chain efficiency, technology development, team expansion, and brand-building. Outzidr aims to achieve ₹100 crore annualized revenue within 6–8 months through its D2C platform and marketplaces like Myntra, Nykaa Fashion, and AJIO.

Led by industry veterans with expertise in fashion and logistics, Outzidr is poised to capitalize on India’s growing D2C market fueled by Gen Z’s demand for trendy and affordable fashion.

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