Team StartupCity

• Bluecopa begins its Series A raise worth Rs 64.7 crore
• Valuation climbs 2.3X to Rs 306 crore post-money
• New round led by Valorshield Pte Ltd with participation from existing investors

Bluecopa, a finance operations (FinOps) automation startup, has kicked off its Series A funding round with a planned raise of Rs 64.7 crore (around $7.35 million). The round is being led by Valorshield Pte Ltd (Analog), with Blume Ventures and Dallas Venture Capital returning as participants.

According to the company’s filing with the Registrar of Companies (RoC), Bluecopa’s board has approved the issuance of 4,562 Series A compulsory convertible preference shares at Rs 1,41,849.13 per share. This marks the formal start of the fundraising process, though the capital has not been fully raised yet.

If completed as planned, Valorshield will invest Rs 38.8 crore (about $4.4 million), while Blume Ventures and Dallas Venture Capital intend to invest Rs 12.93 crore each. Based on the terms outlined in the filing, Bluecopa’s valuation has surged 2.3X to Rs 306 crore (nearly $35 million) post-money, compared to its previous Rs 133 crore valuation during its $1.8 million pre-Series A round last year.

Founded in 2021 by Nilotpal Chanda, Raghavendra Reddy, and Satya Prakash Buddhavarapu, Bluecopa uses AI and data analytics to help CFOs automate and streamline financial operations. Its cloud-native platform provides a unified system designed to enhance efficiency for modern finance teams.

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The Hyderabad-based startup has raised more than $11 million so far, including a $2.3 million seed round in 2022. For FY24, Bluecopa reported Rs 5.2 lakh in operating revenue, Rs 27.38 lakh in non-operating income, and a net loss of Rs 7.2 crore. The company has not yet disclosed its FY25 financials.