Temple’s Valuation Soars to $375 Million as Founder Rolls Out ESOP Liquidity Programme

Temple, the Indian wearable‑technology startup that grew out of the Eternal ecosystem, announced a fresh internal valuation of roughly $375 million. That figure is almost double the $190 million mark the company fetched when it closed its seed round in February.

What’s more, founder Deepinder Goyal is offering a limited‑purpose ESOP liquidity programme. Roughly 20 out of the 200‑220 staff members who have earned options can, if they wish, sell up to a quarter of their vested shares back to the company. The memo makes it clear – participation is completely optional.

Why now? Goyal says external investors have been sniffing around with offers that peg the company at about $500 million. “Before we lock in the next round, I want a slice of that value to reach the people who built it,” he wrote to the team.

ESOP buy‑backs at an early‑stage startup are a rarity, and when they happen they’re usually done at a discount to the most recent financing round. Temple is flipping that script: the buy‑back is being executed at the higher, $375 million valuation, essentially rewarding early employees with a better price.

The capital structure, according to filings with the Registrar of Companies, shows Deepinder Goyal holding around 28 % of the equity. Employees collectively own about 10 % via the ESOP pool. Among institutional backers, Steadview Capital tops the list with just over 5 % and Peak XV Partners with a little over 3 %. Other investors include Vy Capital, QLT Technology, Masada Lake Enterprises and the family office of Zerodha founders Nithin and Nikhil Kamath (NKSquared).

Angel investors also have a seat at the table. Akshant Goyal – CFO of the Eternal Group and a close relative – owns close to 4 % of the company, making him the biggest individual holder outside the founder. Names such as Vijay Shekhar Sharma, Varun Alagh, Abhiraj Singh Bhal, Kunal Shah and Raj Shamani appear in the cap table, albeit with modest stakes.

The move comes on the heels of earlier reports that Temple is edging toward a commercial launch. The startup has already tied up with manufacturing partners Ethereal Machines and Zetwerk to bring its wearables to market.

In short, Temple is positioning itself for a bigger funding round, while also trying to keep its early‑team motivated and financially rewarded. Whether the $500 million interest materialises remains to be seen, but for now the message is clear: the company values its people and wants to share the upside.