SaaS startup Whatfix raises $125M in Series E funding

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September 25, 2024

SaaS startup Whatfix raises $125M in funding — Khadim Batti and Vara Kumar, cofounders, Whatfix

Whatfix, a software-as-a-service (SaaS) company, recently secured $125 million in a Series E funding round, led by private equity firm Warburg Pincus. Warburg Pincus invested $100 million, while SoftBank, an existing investor, contributed an additional $25 million. With this new funding round, Whatfix’s valuation has jumped to around $900 million, up from $568 million in 2021 after a $90 million round led by SoftBank.

Warburg led the new funding round, contributing $70 million in primary fundraising while existing investors covered the rest through secondary deals. Early investors Helion Venture Partners and Eight Roads Ventures partially sold their stakes in this round.

Khadim Batti, founder and CEO of Whatfix, stated that the company plans to use the primary funds for acquisitions and to strengthen its current products. They also aim to focus on GenAI use cases and expand their presence in the US, EMEA, and APAC regions.

Currently, 66% of Whatfix’s revenue comes from the US market, 27% from Western Europe, and the rest from other regions.

Founded in 2014, Whatfix provides a digital adoption platform, simulated application environments for hands-on training, and no-code application analytics. These services help organizations boost user productivity, maintain process compliance, and enhance the user experience for internal and customer-facing applications.

“As a company, we evolved from an adoption-only problem statement to helping enterprises visualize and realize the return on investment (ROI) on their digital transformation, on their software stack, and giving them tools to continuously improve productivity through adoption. Later on, we added simulation,” Batti said.

The company reported over 45% growth in FY24 but did not reveal exact figures. In FY23, it recorded revenue of Rs 304 crore and a net loss of Rs 328.3 crore. A 45% growth would bring its FY24 revenue to approximately Rs 441 crore.

Whatfix is said to have an annual recurring revenue of $75 million. “In a couple of quarters, we will cross $100 million ARR,” Batti said.

Batti said that the company aims to continue growing by around 40% over the next two years while also enhancing its operational efficiency. “Over the next two years, we are looking to break even in terms of earnings before interest, taxes, depreciation, and amortization and then actually go for an initial public offering,” he said.

For an acquisition, he said: “We will look for a company that has achieved strong product-market fit with a substantial or decent revenue…which can help us scale in the digital adoption platform (DAP) category, accelerate our progress in gen ai and can improve our analytics.”

Although Whatfix operates globally, its holding company is based in India. Most SaaS companies, however, typically run their operations from the US.

Healthy bread brand The Health Factory raises $3.5Mn in seed funding

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September 25, 2024

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Healthy bread brand The Health Factory raises $3.5 million from Peak XV's Surge — Vinay Maheshwari, founder of The Health Factory

The Health Factory, a brand focused on healthy bread, secured $3.5 million in seed funding. Surge, Peak XV’s program for scaling early-stage startups, led this funding round.

Angel investors such as Kartik Mehta, Ali Tambawala, and Sunil Tulsiani participated in the funding round.

The Health Factory plans to use the new funds to speed up product development and invest in research and development (R&D), which will help them create new product segments.

The company aims to grow its retail presence in general and modern trade channels while improving its logistics and operational technologies.

“This investment will enable us to disrupt additional markets with our health-focused offerings. We have received interest from numerous tier-1 and tier-2 cities, and this funding will allow us to expand our reach to more pin codes, ensuring our products are accessible to more consumers seeking healthier options,” said Vinay Maheshwari, founder of The Health Factory.

Founded in 2018 by Maheshwari and Mohit Sankhala, The Health Factory specializes in producing protein bread, vegan protein bread, and zero maida bread. The company claims that all its products are free from chemicals and preservatives.

The brand’s offerings are now available in cities like Mumbai, Pune, Bengaluru, Delhi, Chandigarh, Ahmedabad, Lucknow, Hyderabad, and Chennai. Customers can purchase them through quick commerce platforms such as Zepto, Swiggy Instamart, and Blinkit.

This funding comes as quick commerce and demand for direct-to-consumer (D2C) brands are surging, fueled by the fast deliveries offered by these platforms. As a result, investors are increasingly interested in early and mid-stage D2C companies.

On September 24, kids’ personal care brand Tuco Intelligent announced raising $2 million in a seed funding round led by Fireside Ventures and Whiteboard Capital.

Other brands, such as organic fresh produce startup Gourmet Garden and healthy snack company The Whole Truth, are also in talks to secure funding.

The Health Factory reported a 65-fold increase in sales over the past 24 months. The brand plans to expand into tier-1 and tier-2 cities to meet the rising demand for healthier bread alternatives.

Microsoft to spend $1.3 billion in Mexico on cloud, AI tech

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September 25, 2024

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Microsoft plans to invest $1.3 billion in Mexico over the next three years to enhance its cloud computing and AI infrastructure, the company announced on Tuesday.

“We’re doubling down on bringing more capacity to Mexico,” Chairman and CEO Satya Nadella said at an event in Mexico City.

According to the statement, the investment will improve connectivity and increase AI adoption among small and medium-sized businesses (SMBs).

“We are entering a new era of AI with the promise to create inclusive economic growth and opportunity across every role, industry, and country, including in Mexico,” said Satya Nadella. “Our investments in AI infrastructure and skilling in Mexico will help ensure people and organizations across the country realize the benefits of this technology shift.”

Microsoft aims to reach 5 million Mexicans and support 30,000 SMBs within three years.

Mexican companies like Bimbo and Cemex are already using Microsoft’s AI tools.

Additionally, Microsoft and Viasat are collaborating to provide internet access to over 150,000 Mexicans who lack cellular connectivity by the end of 2025.

“This is great news for our country,” incoming Economy Minister Marcelo Ebrard said in a post on X after meeting with Nadella, adding that the planned investment will help Mexico quickly boost its AI capabilities.

Hair care brand Beauty Garage Professional acquires Gofab Genesis

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September 24, 2024

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Hair care brand Beauty Garage Professional has fully acquired Gofab Genesis LLP, including its brand, products, and manufacturing facilities, the company announced in a press release on Tuesday.

Beauty Garage aims to grow its market share significantly through this acquisition, especially in the premium salon sector.

Mahesh Ravaria, co-founder and CEO of Beauty Garage Professional, said, “This acquisition not only enhances our product portfolio but also positions us as a leader in the premium salon segment. By integrating Gofab Genesis’ expertise and innovative products, we are confident in achieving our targeted revenue of Rs 100 crore in the coming year.”

Founded in 2017, the hair care brand operates with 100 distributors. It plans to expand globally, targeting markets in the Middle East and the United States.

SaaS platform Pepsales bags $1.1Mn in funding

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September 24, 2024

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SaaS platform Pepsales raises $1.1 million in funding round — Ajay Singh and Abhinandan Sahgal, cofounders, Pepsales

Pepsales, a SaaS platform designed for sales teams, secured $1.1 million in a funding round led by Chiratae Ventures. Angel investors also participated in this round.

The company plans to use the funds to build an enterprise-level AI SaaS platform, expand its market presence, and invest in sales, marketing, and customer support. Additionally, Pepsales will hire talent for product engineering and AI-related roles.

Ajay Singh and Abhinandan Sahgal founded the platform in 2023. It uses AI and machine learning (ML) to help B2B SaaS companies create personalized product demos that engage potential customers.

“The enterprise application software market spends more than $200 billion annually on sales and marketing expenses. This is the market we are catering to, and within it, our software belongs to the demo automation category. There have been a few players in the industry, but the market size is big since it’s a new category. We are highly ambitious to ensure that we can build an enterprise-grade product and capture as much market share as possible,” Singh said.

Currently operating in beta mode, the platform has 10 customers and aims to double down on the US and India. “Our plan is to reach 25 customers by December, and after that, we will do the public launch,” he added.

“If you show a demo to Nike which is meant for Nike and not for Mercedes, chances are you can improve your wins by 50%. Our proprietary AI and ML technology automates the process of creating personalized demos, saving sales teams countless hours,” said Sahgal.

Commenting on the investment, Venkatesh Peddi, managing director at Chiratae Ventures, said, “Pepsales is tackling a critical pain point in the massive B2B tech sales landscape with an innovative, AI-driven approach. Their solution has the potential to transform how companies conduct product demos and close deals.”

The venture capital firm has backed firms like Policybazaar, Curefit, Firstcry, Flipkart, Lenskart, Myntra, Pixis, and Uniphore.

Stone Wood Hotels & Resorts launches new property in south Goa

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September 23, 2024

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Goa-based hospitality chain Stone Wood Hotels & Resorts has launched its newest property, Azalea by Stone Wood. This retreat is nestled in the beautiful surroundings of Carmona, South Goa, just 700 meters from the white sands of Carmona Beach and a short walk from Zalor Beach. With this launch, Stone Wood strengthens its foothold in Goa, a popular destination famous for its beaches, historic churches, and vibrant culture.

Azalea by Stone Wood boasts 52 stylish rooms, including deluxe, premium, and suite options. The resort offers a multi-cuisine restaurant, Café d’Azalea, a swimming pool, and various guest services like airport transfers and a business center. These amenities make it a perfect spot for both leisure and business travelers.

Commenting on the launch, Shikhar Kumar, managing director of Stone Wood Hotels & Resorts, said, “We are thrilled to introduce Azalea by Stone Wood, which perfectly captures the essence of South Goa’s beauty and tranquillity. With its prime location, luxurious accommodations, and world-class amenities, we believe Azalea will provide an unforgettable experience for every guest. We continue to believe in experiential boutique properties and value-for-money vacation experience.”

Founded in 2017, Stone Wood Hotels and Resorts, based in Goa, delivers unmatched value-for-money boutique stays in prime locations across India. With properties set along Goa’s serene beaches, Karnataka’s lush greenery, and Himachal Pradesh’s peaceful mountains, each destination offers top-notch amenities, diverse dining options, and personalized services. Whether guests seek relaxation or adventure, Stone Wood’s 16 properties ensure a memorable vacation, combining comfort and elegance.

DOMS acquires 51.77% stake in Uniclan Healthcare

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September 23, 2024

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DOMS acquires 51.77% stake in Uniclan Healthcare — Santosh Raveshia, Managing Director, DOMS

DOMS Industries Limited, a stationery and art material brand listed on the BSE, announced on Monday that it has acquired a 51.77% equity stake in Uniclan Healthcare, a growing producer of baby hygiene products like diapers and wipes.

This acquisition makes Uniclan a subsidiary of DOMS. As part of the deal, DOMS acquired 71,16,080 equity shares for a total of ₹54.88 crore. Out of this, ₹28.88 crore will be a primary infusion, which Uniclan will use to expand capacity, repay debt, and support working capital needs.

The acquisition allows the brand to broaden its product range and diversify its portfolio, aligning with its growth strategy to reach a wider audience. By stepping into the diaper market, valued at around $2 billion and growing at a CAGR of about 16%, DOMS greatly increases its potential target market.

Commenting on the acquisition, Santosh Raveshia, Managing Director, DOMS Industries Limited, said, “While we remain focused on driving innovation and delivering value across our core business segments, the expansion is expected to boost our distribution network in the long term, opening new avenues for sales and contributing to our overall success.”

Uniclan operates a manufacturing facility in Jaipur, Rajasthan, with an annual capacity to produce around 400 million pull-up pant-style baby diapers. These diapers are mainly sold under its flagship brand, Wowper.

Vatsal Desai, Founder and Director, of Uniclan Healthcare said, “We believe that with our focus on product quality and innovation, and leveraging DOMS distribution network in India and globally, we shall be able to elevate Uniclan’s growth trajectory and expand our reach.”

Nisus Finance to raise $200M from global investors

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September 23, 2024

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Nisus Finance to raise $200M from global investors — Amit Goenka, managing director and CEO of Nisus Finance

Nisus Finance Services (Nifco), a real estate investment firm, is in the process of raising around $200 million from investors in Singapore, the UK, and the Middle East. So far, the inaugural special situations offshore fund has secured $40 million and aims to complete its first close by March 2025. An offshore entity will serve as a feeder or co-investor in the domestic fund, with approximately $40 million already committed.

“This capital can be invested alongside the domestic pool, which is nearing final closure. We have an additional $160 million under discussion, with interest from HNIs, bank treasuries, and family offices for high-yield assets,” said Amit Goenka, managing director and CEO of Nisus Finance.

Nisus Finance Group manages two alternative investment funds: the Real Estate Credit Opportunities Fund-I (RECOF-I) and the Real Estate Special Opportunities Fund-1 (RESO-1), with a combined corpus of ₹1,200 crore. RECOF-I is co-owned by Nisus and the Dalmia Group, while RESO-1 is sponsored and strategically partnered with BCD Group.

“We have a pipeline of stressed assets to be acquired in India. The offshore fund will co-invest alongside RESO-1 into residential assets stuck for last-mile funding, either as an FPI or as an investor in the India fund,” said Goenka. The company plans to complete the final fundraising round for RESO-1 by the end of this fiscal year.

Nisus Finance Group, with a total corpus of ₹700 crore, has already invested ₹450 crore across four deals from its RESO-1 fund, managed by Nisus BCD Advisors LLP.

In 2020, the company fully exited its first fund, the ₹450 crore Real Estate Asset Performance Fund-I (REAP-I). Nisus also operates a non-banking financial company (NBFC), Nisus Fincorp Pvt. Ltd., which focuses on lending to SMEs in both real estate and non-real estate sectors. “We are also in the process of exiting the RECOF-I fund and aim to grow our SME lending book to ₹150 crore before the initial public offering,” he said.

As part of its IPO strategy, Nisus Finance Services Co. Limited has submitted a draft red herring prospectus (DRHP). The NBFC aims to strengthen its fund setup, acquire additional licenses, and enhance its fund management infrastructure in key financial hubs like IFSC-Gift City, DIFC-Dubai, and FSC-Mauritius.

Nisus Finance Group also plans to use the funds to cover placement fees and fundraising expenses for domestic and international markets. Additionally, the company will invest in its associate, Nisus Fincorp Private Limited, raise more capital, and meet other general corporate costs.

The Stage is Set for Innovation at the World CX Summit and Awards

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September 17, 2024

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Monday, 16 September 2024, Bengaluru: With three days to go until the World CX Summit and Awards 2024 unfolds, the stage is set for India’s top-notch gathering of customer experience leaders and innovators. Trescon will host the event, which will take place in Bengaluru on 19th September 2024 at the JW Marriott Hotel. This summit will bring together over 200+ C-level experts to explore the latest trends, share insights, and recognize excellence in customer experience.

The recent innovations in the AI space bring a whole new dimension to how businesses and CX leaders operate and interact with customers. These technologies transform how organizations understand and engage with their audience, from generative AI to utilizing advanced data analysis to interpreting customer feedback. AI genuinely reshapes existing business models and creates new avenues for competitive advantages.

The World CX Summit will provide a platform for CX experts and innovators to explore these next-gen solutions and their impact on customer experience. The event’s sessions will cover various topics, from enabling security-centric customer experiences and integrating data analytics to how brands are manoeuvring the digital revolution.

Among the notable speakers at the event are:

– Vishal Bhatia, Chief Digital Officer, Canara Bank

– Pinkustar Borah, Director, Head of IT – Customer Experience, South Asia, Hindustan Unilever Limited

– Kalyani Seshadri, Lead – Customer Experience, Tanishq

– Satish Bettadapur, Vice President & Global Head for Customer Care Centers, HP

– Lakshman Velayutham, CMO, Ujjivan Small Finance Bank

– Fasih Abbas M, Senior Director & Head of Customer Success, Cashfree Payments

– Tanuj Diwan, Global Head- SurveySensum

– Ankit Goenka, Senior VP- Customer Experience, Bajaj Allianz

– Komal Prasad B, Vice President – Occupier Care & Experiences, Prestige Group

– RAMANATHAN RV, Co-founder and CEO, Hyperface

– RAKHI RANA, COO, Drools

Attendees will also engage in thought-provoking panel discussions and keynote sessions designed to foster collaboration and inspire new approaches to customer experience management. The summit will become an essential forum for driving innovation, sharing best practices, and setting new benchmarks for excellence in customer experience.

“As Bengaluru hosts the World CX Summit and Awards 2024, it underscores the city’s role in shaping the future of customer experience. The summit serves as the premier platform for exploring the latest advancements and strategies in customer experience, setting new standards for excellence and innovation,” states Mithun Shetty, Vice-Chairman of Trescon.

Sharing the summit’s importance, Tanuj Diwan, Global Head- SurveySensum, said, “CX has shifted from a ‘nice-to-have’ to a critical business priority in India. While AI and analytics are key, getting the basics right—like customer profiling and tech integrations—is essential to align CX teams and drive sustainable growth.”

Ramanathan RV, Co-founder and CEO of Hyperface, said, “The intersection of technology and fintech is not only driving financial inclusion but also fundamentally reshaping customer expectations. The World CX Summit brings together the industry’s trailblazers, and we are excited to contribute to discussions that will shape embedded finance experiences.”

The event will also showcase the much-awaited World CX Awards, spotlighting and celebrating the pioneering achievements of the nation’s foremost CX professionals. This segment will honour outstanding leadership and exceptional contributions across various sectors, marking a prominent celebration for the ‘Top CX Leaders Awards’ and ‘Top Marketing Leaders’. Register to join those setting new benchmarks in customer experience and marketing innovation. Secure your place today!

The 12th edition of the World CX Summit & Awards is brought to you by

• Gold Partner: Tata Communications

• Silver Partner: Tata Tele Business Services

• Lanyard Partner – Hyperface

• Bronze Partner – SURVEYSENSUM

• Exhibitors – ICCS -Business Process Management Company; LimeChat

• Official Event Tech Partner – KonfHub

• Official Print Media Partner – Business Standard

About Trescon

Trescon is a pioneering force in the global business events and services sector, driving the adoption of emerging technologies while promoting sustainability and inclusive leadership. With a deep understanding of the realities and requirements of the growth markets we operate in – we strive to deliver innovative and high-quality business platforms for our clients. For more information about Trescon, visit: www.tresconglobal.com

For more information about Trescon, visit: www.tresconglobal.com

For media inquiries and further information, please contact:

Vishal S S
Team Leader – Media and Communications
Trescon
Email: vishals@tresconglobal.com
Mobile: +91-7358680951

From Online to High Street Nisara Beauty expands to Purplle Stores PAN India

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September 13, 2024

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September 13th, Thursday, 2024: Nisara, a rapidly growing name in the fragrance industry, is set for offline expansion through a strategic partnership with Purplle stores across India. With this launch, the brand will now be available in around 16 stores nationwide, marking a significant step in making its innovative and high-quality products more accessible to beauty enthusiasts.

Catering to a diverse audience, Nisara offers a wide range of fragrances for men, women, and unisex preferences. The brand’s presence will be felt in key cities across India, with stores strategically located in high-street markets and malls in NCR, Mumbai, Bangalore, and Kolkata. With around 10% of the business driven by offline sales, the brand sees immense potential in reaching a broader audience through physical retail locations. These offline stores are located in high-street markets and malls, providing a perfect platform for customers to explore and experience Nisara’s product offerings firsthand.

Regarding the expansion, Tarvinder Pal, Co-Founder & CEO of Nisara, states, “Expanding to offline stores marks a significant milestone in our growth journey. By bringing our products closer to consumers, we aim to enhance their shopping experience and accessibility to our range of clean, high-performing products. We believe that this strong partnership with the Purplle store will not only strengthen our brand’s footprint but will also enhance the fragrance category range to consumers.”

The brand has made a name for itself by offering products that are not only effective but also budget-friendly and sustainable. This offline expansion is just the beginning of many more exciting developments as the brand continues to explore new avenues to serve its customers better.

About Nisara Beauty

NISARA is a luxury perfume brand that seamlessly blends elegance, nature, and craftsmanship to create unforgettable fragrances. Each scent is a carefully composed masterpiece made from the finest global ingredients to ensure quality, purity, and sophistication. Designed to evoke memories and celebrate individuality, our perfumes offer an accessible touch of luxury at a price that allows everyone to indulge. With NISARA, you can explore a world where exceptional fragrance meets accessible pricing, letting every scent tell your unique story.

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