VC Fund Investments
Options trading platform Punch raises Rs.26-Cr from Stellaris, SIG Venture, others
Mumbai-based stock broking platform Punch is raising INR 26 crore (around USD 3 million) in its extended seed round from existing investors Stellaris Venture Partners (INR 8.66 crore) and SIG Venture Partners (INR 8.66 crore) with participation from a new investor, Mauritius-based Four SB Ltd (INR 8.66 crore). The company is to issue 1,27,650 pre-Series A4 CCPS (compulsorily convertible preference shares) at INR 2,036 each to raise the investment amount.The new funds will be used for growth, expansion, and general corporate activities.Founded in 2022 by Amit Dhakad, Hiral Jain, Ajit Dandekar and Arshad Fahoum, Punch claims to make options trading seamless for both beginners and seasoned traders. It enables users to trade index options, stock options, and equities on the NSE and BSE exchanges.
In Aug 2024, Punch had attracted about USD 7 M from InnoVen Capital, Prime Venture Partners, Stellaris Venture Partners, Susquehanna Asia VC and Others.For FY24, Punch had reported about INR 1 Cr in Operating Income and about INR 5.4 Cr in Net Loss.
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