VC Fund Investments
Agritech startup Intello Labs raises Rs.37-Cr from Avaana, Saama Capital, Nexus, Omnivore
Gurgaon-based artificial intelligence-focused agricultural technology startup Intello Labs has raised INR 37.3 crore (USD 5 million) in a round led by Avaana Capital. The round, which takes the company's valuation to around INR 246 crore (USD 34 million), received participation from existing investors Saama Capital, Nexus Ventures and Omnivore Partners. Avaana Capital chipped in with INR 18.62 crore while Omnivore Partners, Saama Capital and Nexus Ventures invested INR 6.2 crore each. The company has allotted 7,706 Series A3 preference shares and 15 equity shares at INR 47,247 per share. Omnivore is the biggest shareholder in Intello with a 19.15% stake followed by Nexus Ventures which owns 18.13%. Saama Capital and Avaana own 15.21% and 7.58% stake respectively. Co-founders Milan Sharma and Nishant Mishra each own a 8.4% stake while the third co-founder, Himani Shah retains 1.37% stake after this round.
From the Venture Intelligence PE-VC Deal Database: Between Mar-19 and May-20, Intello Labs had raised about INR 60 Cr from Omnivore Partners, Saama Capital Nexus Ventures and others. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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