India Dealbook: Alteria invests in Faasos; Venture Catalysts backs Grexter

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Online food delivery brand Faasos has raised Rs 30 crore ($4.2 million) in debt funding from Alteria Capital while co-living startup Grexter has raised $1.5 million from Venture Catalysts.

Faasos raises debt funding from Alteria

Internet kitchen brand Faasos, operated by Rebel Foods, has raised Rs 30 crore ($4.2 million) in debt funding from venture debt firm Alteria Capital.

The funding has been raised through the issue of non-convertible debentures.

“The focus on technology coupled with deep customer insights they have garnered over time places Faasos at the forefront in this segment and we are very happy to support them in their journey,” Alteria Capital managing partner Vinod Murali told DEALSTREETASIA.

Faasos is looking to raise a total of $100 million to expand overseas and to increase its product offerings and cloud kitchen presence within the country, The Economic Times reported in October 2018. The round is expected to value the company at $200-220 million.

Venture Catalysts backs Grexter

Bengaluru-based co-living startup Grexter has raised $1.5 million (Rs 10.6 crore) in a pre-Series A round of funding from Venture Catalysts, according to a statement on Friday.

The round was joined by Arisht Jain of Samyakth Group, Vikas Bohra and Vishal Shah. It also saw participation from developers, HNIs, real estate professionals, family offices, private equity funds and wealth management companies.

Grexter will use the funds to enhance its inventory as well as to ramp up its technology architecture.

Founded in 2016 by Pratul Gupta and Nikhil Dosi, Grexter is a rental accommodation platform aimed at students and young professionals looking for community living options. The company claims to have about 1,500 beds across Bengaluru.

“We envision to scale rapidly and accommodate over 5,000 beds by the end of 2019,” Gupta said.

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