­BlackSoil raises $25-mn fresh capital

Alternatively Alternative credit platform BlackSoil on Tuesday said it has raised over $25 million through its diverse debt products, and 60 per cent of were repeat investors in the recent capital raise. The funding is in addition to the $35 million BlackSoil raised during the first half of FY23. The company has recently invested in modern sectors such as battery swapping, online travel agency (OTA), health technology, and deep technology.

“We have witnessed a strong interest from investors, and we are confident that our robust portfolio performance in the current funding winter environment will continue to attract investors in the years to come,” said Ankur Bansal, Co-Founder of BlackSoil. Some of the notable investments Blacksoil recently made include new-age sectors such as battery swapping (Battery Smart), OTA travel (Yatra.com), discount broking (Upstox), healthtech (HealthPlix), deeptech (Tonbo Imaging) and fintech unicorn (MobiKwik). BlackSoil currently manages an alternative credit platform and had deployed $270 million across 135 deals. The portfolio includes investments in 9 unicorns such as Upstox, Udaan, Zetwerk, OYO Rooms, and Spinny, as well as Curefoods, a major player in the cloud kitchen industry, Blu-Smart, a pioneer in EV ride-hailing, and ideaForge, a drone manufacturer.

In October last year, the venture debt platform raised Rs 250 crore through its diverse financial products from reputed family offices, notable high net worth individuals (HNIs) and marquee institutions.