Newtrace Private Limited announced that it will raise INR 283.814454 million in a round of funding on February 24, 2026. The transaction will include participation from new and lead investor HDFC Bank Limited for INR 49 million, other new investor Mitsui Sumitomo Insurance Co. for INR 43.5 million, Ltd. and returning investor Aavishkaar Venture Management Services for INR 43.5 million, Peak XV Partners Operations LLC for 43.5 million, Speciale Invest, Micelio Mobility Private Limited and individual investor Manish Gandhi, Renu Gandhi.
The transaction will raise at a post-money valuation of INR 2370 million. After the completion of the transaction Speciale Invest has 12.88% stake, Peak XV Partners Operations LLC 12.88% stake, Micelio Mobility Private Limited 11.65% stake, Aavishkaar Venture Management Services 5.80% stake, HDFC Bank Limited 2.11% stake, Mitsui Sumitomo Insurance Co., Ltd. 1.84% stake in the company. The company will issue compulsory convertible cumulative preference shares in the transaction.
The board of company has passed a resolution to approve the issue of 2,541 pre-Series A CCCPS at an issue price of Rs 111,694 each to raise the above sum, according to a filing with the Registrar of Companies (RoC).
