Mumbai: 360 ONE Asset is evaluating investments in a number of consumer-facing startups, together with NIC Ice Lotions maker Walko Meals and ayurvedic wellness model Kapiva, a number of individuals acquainted with the matter instructed Mint. The funding rounds being mentioned vary between $25 million and $40 million and will additionally contain participation from present buyers, the individuals mentioned.
Kapiva is in talks to boost $40-50 million in a contemporary funding spherical which will embrace a secondary part, permitting early buyers to exit. The corporate has attracted curiosity from a number of buyers, together with 360 ONE.
Walko, in the meantime, is negotiating a $30-35 million spherical with 360 ONE and different buyers to help its growth plans. Final month, the corporate acquired Mumbai-based artisanal dessert model Meemee’s for an undisclosed sum, marking its entry into the premium dessert phase.
To make certain, negotiations with each firms are nonetheless ongoing, and the ultimate deal construction might change. Nonetheless, 360 ONE is predicted to be the brand new incoming investor in these rounds in the event that they materialize.
“Fundraising is aligned with our long-term progress technique and ongoing pursuit of enterprise progress. As these progress, we’ll be higher positioned to share future plans. Walko’s sturdy 45–50% YoY progress is strengthened additional after buying MeeMee’s. The following strategic step is to scale this model nationally,” a spokesperson for Walko mentioned.
360 ONE declined to remark, whereas Kapiva didn’t reply to Mint’s queries.
Each Kapiva and Walko raised capital in the previous yr. Kapiva secured about $10 million from present buyers in September, whereas Walko raised $20 million from Jungle Ventures in February 2024.
360 ONE Asset, which manages over $3 billion throughout its enterprise capital and personal fairness platform, has stepped up its dealmaking exercise in latest months. The agency has launched a number of sector-focused funds, together with a ₹500 crore early-stage fund, a ₹5,000 crore secondaries fund, a pre-IPO fund, a healthcare-focused non-public fairness fund, and others concentrating on monetary providers and know-how. It additionally plans to roll out a consumer-focused fund quickly.
“We have now launched these funds as we imagine there may be a whole lot of depth in the sort of alternatives we’re seeing as we speak. There may be immense scope for good returns as exit methods evolve for new-age firms. We even have the power to supply experience, and one other approach to consider the depth in the market is to have the proper measurement of funds chasing these firms,” Abhishek Nag, technique head of early-stage VC at 360 ONE Asset, instructed Mint in Could.
He added that the agency is positioned to help firms from the thought stage all the way in which to IPO.
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