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    EloElo Group raises $80 million in a Series C round led by Hornbill Capital and NBCUniversal, with MIT Investment Co. and existing investors participating. Peppermint Robotics raises ₹100 crore (approximately $10.5 million) in a Pre-Series B round led by pi Ventures and Crane Venture Partners, with Asiana Fund participating. Traversal raises $120 million in a Series B round at a $1 billion valuation, led by Kleiner Perkins, Redpoint and Khosla Ventures, with Sequoia Capital, Battery Ventures and Amex Ventures participating. GIVA raises over $100 million in a round led by Multiples Alternate Asset Management. The Croffle Guys raises ₹14 crore in a round led by V3 Ventures, with N.A.N Partners participating. Solgram raises over $1 million in a pre-seed round led by DSG Consumer Partners and Saama Capital, with Kapil Chopra participating. Sachin Tendulkar makes a strategic investment in Metasports Interactive, the company behind Hitwicket. The amount was not disclosed. Hyeglo Beauty raises ₹7 crore in a round led by Sauce, with Giga Capital, Consumer Collective, Reckitt's Arjun Purkayastha and The Patient Capital participating. Unify Foodworks raises ₹5 crore in seed funding through convertible debentures from Atrium Ventures, SailThru Ventures, Arjun Vaidya and Abhishek Goyal. OBSESS raises approximately ₹3 crore in an angel round from Pushpendra Singh, Amit Goel and Harshit Vij. EloElo Group raises $80 million in a Series C round led by Hornbill Capital and NBCUniversal, with MIT Investment Co. and existing investors participating. Peppermint Robotics raises ₹100 crore (approximately $10.5 million) in a Pre-Series B round led by pi Ventures and Crane Venture Partners, with Asiana Fund participating. Traversal raises $120 million in a Series B round at a $1 billion valuation, led by Kleiner Perkins, Redpoint and Khosla Ventures, with Sequoia Capital, Battery Ventures and Amex Ventures participating. GIVA raises over $100 million in a round led by Multiples Alternate Asset Management. The Croffle Guys raises ₹14 crore in a round led by V3 Ventures, with N.A.N Partners participating. Solgram raises over $1 million in a pre-seed round led by DSG Consumer Partners and Saama Capital, with Kapil Chopra participating. Sachin Tendulkar makes a strategic investment in Metasports Interactive, the company behind Hitwicket. The amount was not disclosed. Hyeglo Beauty raises ₹7 crore in a round led by Sauce, with Giga Capital, Consumer Collective, Reckitt's Arjun Purkayastha and The Patient Capital participating. Unify Foodworks raises ₹5 crore in seed funding through convertible debentures from Atrium Ventures, SailThru Ventures, Arjun Vaidya and Abhishek Goyal. OBSESS raises approximately ₹3 crore in an angel round from Pushpendra Singh, Amit Goel and Harshit Vij.

    • Just In

    Dev Accelerator IPO to Raise INR 143.35 Crore, Bidding Opens September 10

    Latest News Posted on  —by Salil Urunkar
    Dev Accelerator IPO

    Mumbai: Dev Accelerator Limited has announced the opening of its Initial Public Offering (IPO) on Wednesday, September 10, 2025, with a closing date of Friday, September 12, 2025. The Dev Accelerator IPO has set its price band at ₹56 to ₹61 per equity share of face value ₹2 each. The Anchor Investor Bidding Date is scheduled for Tuesday, September 9, 2025.

    Investors can place bids for a minimum of 235 equity shares and in multiples thereafter. At the upper price band, the issue size aggregates to ₹143.35 crore, consisting entirely of a fresh issue. No Offer for Sale (OFS) component is included in the IPO.

    Also Read: Chargebee Expands with New Office at WeWork Ramanujan Intellion Park in Chennai

    Dev Accelerator IPO: Utilisation of Proceeds

    The company intends to allocate the net proceeds from the Dev Accelerator IPO towards:

    • Capital expenditure for fit-outs in proposed centers, estimated at ₹73 crore
    • Repayment and/or pre-payment of certain borrowings including redemption of NCDs, estimated at ₹35 crore
    • Balance towards general corporate purposes

    Business Overview of Dev Accelerator

    Dev Accelerator provides flexible workspace solutions and is recognized as one of the largest flex space operators in Tier 2 markets (Source: JLL Report). The company follows multiple workspace procurement models including Straight Lease, Revenue Share, Furnished by Landlord, and the OpCo–PropCo model.

    As of May 31, 2025, the company managed 28 centers across 11 Indian cities, serving more than 250 clients with 14,144 seats and a total area of 860,522 sq. ft. under management.

    Dev Accelerator Financial Performance

    In FY25, Dev Accelerator reported:

    • Revenue from operations of ₹158.88 crore, up 47% from FY24’s ₹108.09 crore
    • Restated profit after tax (PAT) of ₹1.77 crore, a surge of 305.72% from ₹0.44 crore in FY24
    • Adjusted EBITDA of ₹80.46 crore in FY25

    Also Read: Pune Office Stock Hits 106 Mn Sq Ft, Led by Tech and Talent: Knight Frank

    Dev Accelerator IPO Listing and Management

    The equity shares offered through the Red Herring Prospectus dated September 2, 2025, are proposed to be listed on BSE and NSE, with NSE as the designated stock exchange. The IPO will be conducted through the Book Building Process in compliance with SEBI ICDR Regulations.

    Pantomath Capital Advisors Private Limited is acting as the sole Book Running Lead Manager to the issue.

    The Red Herring Prospectus is available here
    .

    Author

    • Salil Urunkar

      Salil Urunkar is a senior journalist and the editorial mind behind Sahyadri Startups. With years of experience covering Pune’s entrepreneurial rise, he’s passionate about telling the real stories of founders, disruptors, and game-changers.

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