Prior to this funding round, the Delhi-based startup had raised a seed funding of $1 million from Blume Ventures and a host of angel investors.

The proceeds will be utilized to expand its footprint across Delhi NCR, enter new cities, and strengthen its core operations like supply, refurbishment, and customer service capabilities, Vutto said in a press release.

Co-founded in 2024 by Rohit Khurana and Sitaram Ankilla, Vutto operates a full-stack platform for buying and selling used two-wheelers. The platform allows users to browse certified vehicles online, take a test ride at its physical showrooms, and purchase two-wheelers that come with a six-month warranty and support for paperwork, insurance, and financing. 

According to a market research, around 9 million pre-owned two-wheelers were sold in India in FY24, generating estimated revenue of $3.8 billion.

Vutto claims to have sold 1,500 vehicles within a year of its inception. The startup has three showrooms in Delhi, and claims that vehicles on its platform typically sell within 12 days of listing. It also claims to have established partnerships with banks and financial institutions for selling repossessed two-wheelers.

Recently, BeepKart, a similar startup, shut down its operations after a nearly five-year run. Its rival CredR shut down operations in October last year, while Cars24 also exited its Moto business, a similar vertical.

The other notable players in this space are Bikewale, BikeDekho, and RoamPrime. 

The post Vutto Raises $7M in Series A Funding Led by RTP Global appeared first on The India Bizz Startup News Website.

The post Vutto Raises $7M in Series A Funding Led by RTP Global appeared first on The India Bizz Startup News Website.

RTP Global was an early backer of Yandex, Delivery Hero, and Datadog. JamJar has backed Bulb, Deliveroo, Tails and Oatly. Other individual investors in the round included former executives of Monzo and Stripe,

Cuckoo’s pitch is that it has a simple broadband offering, suppling a single 67 Mb/s fibre deal on a monthly rolling contract with “no hidden fees” it says.

In a statement Alexander Fitzgerald, Founder and CEO at Cuckoo, said: “The broadband market is broken and consumers are being ripped off every day. The importance of fast, reliable and affordable broadband has come into sharper focus with millions of people working from home over the past year. We’re excited that this funding will enable us to help tens of thousands of people across the country make their broadband simple, for good.”

Gareth Jefferies, Partner at RTP Global, said: “Consumer broadband is one of the largest markets yet one of the most poorly served. Consumers are fatiguing of customer-hostile pricing practices, inflexible contracts and deliberately awful customer service, and just as we have seen in insurance, energy and banking, we will see a number of challenger providers come in to eat incumbents’ lunch with differentiated product packagings and a fresh respect for their customers.”

The post Insurgent UK broadband startup Cuckoo Internet raises $6M round led by RTP Global, with JamJar Investments appeared first on The India Bizz Startup News Website.

The post Insurgent UK broadband startup Cuckoo Internet raises $6M round led by RTP Global, with JamJar Investments appeared first on The India Bizz Startup News Website.

Serial entrepreneur and angel investor Kunal Shah led Cred on Tuesday entered the coveted Unicorn club after raising $215 million as a part of its Series D round. This is the second Indian startup in this week to have entered the prestigious club, the first being Meesho.

The funding was led by a new investor Falcon Edge Capital, along with existing Coatue Management LLP. Apart from them existing investors DST Global, RTP Global, Tiger Global, Greenoaks Capital, Dragoneer Investment Group, and Sofina have also participated in this round.

With the latest capital infusion, Cred’s valuation has pegged at $2.1 billion from $800 million in January this year when it raised $81 million in Series C, led by DST Global. Its other investors include Sequoia Capital, Tiger Global. 

Shah further confirmed that the company will also be initiating an ESOP buyback of $5 million for employees. 

Commenting on the development, Shah said, “With the credit card category in India expanding rapidly, we have a massive opportunity to shape responsible behaviour, imagine new use cases, and create a rewarding platform for members. Our growth in the past year has demonstrated the potential value of the high-trust, low-friction platform the CRED team has been building, and we are delighted to share the value created with investors, team members, as well as partners and the CRED community.”

Started in 2018, Shah who earlier had founded Freecharge, an online payment platform, founded Cred, an app that rewards customers who pay their bills on time. The app also provides a range of premium product catalogue from high-end brands. The startup claims to levy no hidden charge while making credit card payment. Cred promotes the building of a community of users who have good credit scores. 

Currently the startup has nearly 6 million users.

The post Kunal Shah-led Cred Becomes Unicorn After Raising $215 Mn appeared first on The India Bizz Startup News Website.

The post Kunal Shah-led Cred Becomes Unicorn After Raising $215 Mn appeared first on The India Bizz Startup News Website.