Digital Gold platform Jar raises Rs.29-Cr from Arkam Ventures

Bengaluru-based Jar has raised INR 29 crore in a new funding round from existing backer Arkam Ventures (via Unitary Fund). The transaction involved the allotment of 1,70,589 Series B2 compulsorily convertible preference shares at an issue price of INR 1,700 per share. The current capital infusion follows a 23% increase in the company’s valuation compared to its previous funding round.Founded in 2021 by Arkalagud Gowrishankar Nishchay Babu, Misbah Ashraf, and Captain Prashant Priya, the company operates a savings and investment platform that enables users to automate savings and invest in digital gold. The company plans to use the proceeds to meet working capital requirements and for general corporate purposes. The firm has also expanded its business into jewellery through its Nek vertical and insurance offerings.Jar has reported an operating revenue of INR 208 crore for FY25 and stated it achieved profitability in the second half of the fiscal year.