Network-as-a-service provider CloudExtel raises Rs 200 crore debt
by ETtech.com
ETtech.com— Network-as-a-service (NaaS) provider CloudExtel Wednesday announced it has secured its first external debt funding of Rs 200 crore, that will go into expanding its network of small cells and fiber optics.The telecom infrastructure provider has also received an A- credit rating from CARE Ratings.The debt funding comes after CloudExtel secured equity investments from Macquarie Capital and Advencap in FY24.The company said the capital infusion is a testament to the scalability and viability of...
ETtech.com—Ugro Capital raises Rs 1,322 crore, acquires fintech lender MyShubhLife for Rs 45 crore. Ugro Capital, a non-banking finance company catering to small and medium businesses, has raised fresh capital of Rs 1,322 crore from a mix of new and existing investors and family offices through compulsory convertible debentures and warrants.Samena Capital led the round injecting Rs 500 crore, while hedge fund Aregence, along with family offices, also committed capital, the company said in a filing with the stock exchanges Thursday.Ugro’s founder, board members and management collectively...
ETtech.com—Lenskart revenue jumps to Rs 3,788 crore in FY23; trims losses to Rs 102 crore. Omnichannel eyewear retailer Lenskart saw its consolidated operating revenue more than double to Rs 3,788 crore in FY23 from Rs 1,502 crore a year earlier. The Gurugram-based company reduced its losses from Rs 102 crore in FY22 to Rs 64 crore in FY23. Total expenses also increased in line with the growing scale of the company, coming in at Rs 4,025 crore in FY23 compared to Rs 1,726 crore in the year-ago period. Notwithstanding the loss on a net basis, Lenskart reported earnings before interest,...
ETtech.com—Snacks maker Adukale raises Rs 11 crore in funding round. Direct-to-consumer snacks and instant foods maker Adukale has secured Rs 11 crore in a funding round led by venture fund Force Ventures. The funds will primarily be used for expansion of the company’s offline presence, its chief growth officer, Vinay Gopinath, told ET.Adukale, founded in 2009, sells a variety of snacks and instant food ingredients for dishes like dosa, idli and poha. With the latest funding round, the firm has raised more than Rs 16 crore.Chief executive Bharat Kaushik said the...