Prime Venture Partners invests Rs. 141.8 crore in Edtech Startup PlanetSpark
Edtech startup PlanetSpark has raised Rs. 141.8 crore ($17 million) in a extended Series B round directed by Prime Venture Partners by means of Seabright.
The round additionally saw the presence of InnoVen Capital, Alteria Capital, myPat, GGT3 Adventures, Ashish Gupta, and IAN investors. Its prime supporters & Co-Founders Maneesh Dhooper and Kunal Malik additionally infused capital resources into the firm.
The crisp financing for the Gurugram-based EdTech startup has come following a period of 26 months. The financing additionally incorporates Rs. 30 crore debt while the rest is as value.
The board at PlanetSpark has passed an exceptional goal to give 887 compulsory convertible preference shares (CCPS) at an issue cost of Rs. 3,10,000 for every offer and 2,271 CCPS and 1,974 value shares at an issue cost of Rs 1,51,462.32 per share for a considerable amount of Rs 91.8 crore.
The organization likewise gave 5,000 non-convertible debentures (NCDs) to raise Rs. 50 crore in the debt from InnoVen Capital and Alteria Capital, according to the organization’s administrative filings with the Registries.
Already, it brought $13.5 million up In the Series B round in December 2021. While the organization’s monetary financial picture in the continuous financial year would be known when it reveals FY24 results, PlanetSpark’s income from operations became 41.3 percent to Rs. 42.4 crore during FY23 when contrasted with Rs. 30 crore in FY22.
The round additionally saw the presence of InnoVen Capital, Alteria Capital, myPat, GGT3 Adventures, Ashish Gupta, and IAN investors. Its prime supporters & Co-Founders Maneesh Dhooper and Kunal Malik additionally infused capital resources into the firm.
The crisp financing for the Gurugram-based EdTech startup has come following a period of 26 months. The financing additionally incorporates Rs. 30 crore debt while the rest is as value.
The board at PlanetSpark has passed an exceptional goal to give 887 compulsory convertible preference shares (CCPS) at an issue cost of Rs. 3,10,000 for every offer and 2,271 CCPS and 1,974 value shares at an issue cost of Rs 1,51,462.32 per share for a considerable amount of Rs 91.8 crore.
The organization likewise gave 5,000 non-convertible debentures (NCDs) to raise Rs. 50 crore in the debt from InnoVen Capital and Alteria Capital, according to the organization’s administrative filings with the Registries.
Already, it brought $13.5 million up In the Series B round in December 2021. While the organization’s monetary financial picture in the continuous financial year would be known when it reveals FY24 results, PlanetSpark’s income from operations became 41.3 percent to Rs. 42.4 crore during FY23 when contrasted with Rs. 30 crore in FY22.
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