E2E Networks Limited has raised about $50 million through a preferential issue of equity shares, while Zoff has raised about $4.76 million from JM Financial Private Equity.
E2E Networks secures $50m strategic investment
E2E Networks Limited, an AI-focused cloud provider in India, on Thursday announced that it has raised about $50 million (Rs 420.51 crore) through a preferential issue of equity shares.
The board of directors approved the preferential issue of up to 24,81,592 equity shares at an issue price of Rs 1694.50 per share to raise the aforementioned amount. This investment came from a diverse group of investors, including key members of the promoter group and a wide array of public investors, the company said in a statement.
The funds will be deployed to accelerate the growth of E2E Networks’s AI-first cloud platform, enhancing its capability to support advanced machine learning and AI-driven applications, the statement added.
“The capital raised will enable us to enhance our cloud infrastructure, ensuring that we continue to deliver unparalleled value to our customers and support the next wave of AI-driven innovation in India,” said Tarun Dua, co-founder and Managing Director of E2E Networks.
Zoff raises $4.76m from JM Financial PE
Spices brand Zoff has raised about $4.76 million (Rs 40 crore) from JM Financial Private Equity through JM Financial India Growth Fund III, it announced on Wednesday.
The funding will be used to launch new products and expand the business into new segments such as ready-to-cook, condiments, cooking pastes, seasoning kits, etc. The company plans to focus on strengthening its offline distribution network through general trade, modern trade channels, and other retail outlets, it said in a statement.
Besides, Zoff aims to increase its brand presence across the platforms through marketing initiatives and build a strong offline network in the market for enhancing the trade and export of the brand, the statement added.
Founded in 2018 by brothers Akash Agrawal and Ashish Agrawal, Zoff earlier secured funding in Shark Tank India from Boat co-founder & CMO Aman Gupta.
