BlackSoil’s venture debt optimism

On Oct 13, 2021

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Mumbai-based venture debt fund BlackSoil Capital invested Rs 35 crore as growth capital in five startups. These include two-wheeler vehicle financing startup Orange, marketing automation platform WebEngage, direct-to-consumer FMCG brand Habanero Foods, fintech startup CASHe, and another undisclosed generic pharma company.

This development comes a week after BlackSoil announced its investment in global consulting firm Kaar Technologies.

“Their unique business positioning and ability to survive through adversities like COVID is what made these companies an attractive proposition for BlackSoil. We are optimistic that our debt capital will help these companies take their businesses to the next level and we will continue to support them throughout their journey,” Ankur Bansal, Co-founder and Director, BlackSoil, said in a statement.

San Francisco-headquartered virtual events platform Hubilo also raised a Series B round of $125 million led by Alkeon Capital, with participation from Lightspeed Venture Partners and Balderton Capital.

It plans to use the funds to expand its market reach in India and overseas through new business functions, product enhancement, go-to-market teams in the US, the UK, EMEA, and APAC.

NFTically — a global NFT marketplace creator and B2B SaaS for launching white-label NFT marketplaces — raised under $1 million additional investment in its seed round from Nitish Mittersain (Nazara Games), Gaurav Munjal (Unacademy), Sujeet Kumar (Udaan), Kunal Kapoor (Bollywood actor), Surojit Chatterjee (Coinbase), and other global investors.

M2P FINTECH, earlier known as YAP, raised $35 million in a Series C round of funding led by Tiger Global, along with existing investors, including BEENEXT, Flourish Ventures, Omidyar Network India, 8i Ventures, Better Capital, and the DMI Group via its investment vehicle Sparkle Fund.

The Chennai-headquartered startup intends to use the funds to enhance its API infrastructure capabilities and expand its reach beyond Asia.

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