Government of Karnataka and Karnataka Digital Economy Mission (KDEM), in partnership with Startup Genome, today announced key findings from the Global Startup Ecosystem Report (GSER) 2026, unveiled at VivaTech Paris. The rankings highlight India's growing innovation footprint, with six Indian ecosystems featured globally. Recognized as the definitive benchmark for startup ecosystems, GSER draws on data from more than 5.5 million companies across 350+ innovation ecosystems worldwide.

Bengaluru, Karnataka: Ranked Second in Asia for AI Innovation, Enters Global Top 10 in Performance and R&D

The GSER 2026 ecosystem rankings are based on a weighted composite index across six key success factors: Performance (27.5%), Funding (20%), Market Reach (20%), Talent and Experience (17.5%), AI-Native Cluster (10%), and R&D Engine (5%). Each factor is scored on a 1–10 scale across more than 350 global ecosystems, making the ranking a multidimensional assessment of ecosystem strength rather than a single-parameter measure.

The finding underscores Bengaluru-Karnataka's growing influence in the global AI landscape. Ranked Asia's #2 AI-native startup ecosystem the region continues to build on its strengths in talent, research, entrepreneurship, and venture capital. The ecosystem also recorded stronger-than-average growth in early-stage AI funding, reinforcing Karnataka's role in shaping India's AI future.

Bengaluru-Karnataka Ecosystem Analysis

Across the GSER 2026 framework, Bengaluru-Karnataka demonstrates consistent outperformance across multiple high-weight indicators, with particularly strong signals in ecosystem output, innovation capacity, and value creation velocity.

Ranking #15 globally in the Startup Ecosystem Index, Bengaluru-Karnataka continues to strengthen its position as India's leading startup hub. Since GSER 2021, the ecosystem has recorded a 190% growth in ecosystem value, significantly outpacing the global average of 149% and the Asia average of 66%. With a total ecosystem value of USD 153 billion, USD 46 billion in startup exits between 2021 and 2025, 304 exits, and 30 active unicorns, Bengaluru-Karnataka demonstrates strong innovation output while maintaining comparatively lower talent input costs. The ecosystem ranks among the Top 10 globally and #3 in Asia for Performance, and among the Top 15 globally and #4 in Asia by Ecosystem Value.

On the investment front, Bengaluru-Karnataka attracted USD 39 billion in venture funding between 2021 and 2025, placing it among the Top 15 ecosystems globally and fourth in Asia. The ecosystem's average exit timeline of 8.2 years, compared to the global average of 11.1 years, reflects faster value-realisation cycles and capital recycling. Its funding profile is characterised by a strong concentration of growth and late-stage capital, complemented by increasing early-stage activity, highlighting the continued evolution of the ecosystem.

In innovation, Bengaluru-Karnataka's R&D Engine ranking improved from the global Top 30 in GSER 2025 to the Top 10 globally in GSER 2026, driven by increased patent output and research commercialisation. This growth is supported by leading institutions such as IISc, ISRO, DRDO, C-DAC, and NAL, alongside emerging deep-tech initiatives in quantum technologies and aerospace. The ecosystem has also emerged as a leading AI hub, accounting for approximately 58% of India's AI startup funding and ranking #2 in Asia in the AI-Native Cluster category.

This indicates strong early-stage concentration in AI-first business models, with scaling potential dependent on later-stage capital and global market expansion.

Overall, GSER 2026 highlights a structurally high-performing ecosystem characterised by strong value creation efficiency, improving innovation output, and above-average capital inflows, supported by faster exit cycles and deepening research-commercialisation linkages.

Bengaluru-Karnataka's Key Highlights in GSER 2026

Bengaluru retained its position among the world's Top 40 startup ecosystems for the second consecutive year and ranked as the #15 Global Startup Ecosystem, with an ecosystem value of USD 152.8 billion. The ecosystem ranked among the Top 10 globally and #3 in Asia for Performance, which measures the size and performance of an ecosystem based on accumulated startup value created through exits and funding.

In innovation, Bengaluru-Karnataka ranked among the Top 10 globally and #5 in Asia in the R&D Engine category, which measures innovation through research activity and patent generation. The ecosystem also ranked among the Top 15 globally and #4 in Asia in Funding Momentum, which measures ecosystem strength through early-stage funding activity and investor participation.

Bengaluru-Karnataka further ranked among the Top 15 globally and #2 in Asia in the AI-Native Cluster category, which measures the scale and intensity of AI startup activity within the ecosystem. In Talent Strength, the ecosystem ranked among the Top 30 globally and Top 10 in Asia, measuring its ability to generate, attract, and retain high-quality talent over time. The ecosystem also ranked among the Top 20 in Asia in Affordable Talent, which measures the ability to hire technology talent competitively, and among the Top 30 in Asia in Funding Runway, which measures the average capital runway that startups secure from venture funding rounds.

Commenting on the recognition, Priyank Kharge, Honourable Home minister, IT & BT, E-governance, Government of Karnataka, said, "Bengaluru-Karnataka is no longer just India’s startup capital; it is increasingly a global DeepTech and AI innovation hub. This recognition by Startup Genome validates our long-term investments in talent, research, entrepreneurship, and emerging technologies. As we build Karnataka’s DeepTech Decade, our focus remains clear: create the next generation of globally impactful companies from Karnataka for the world.”

View the full report here www.karnatakadigital.in.

ICEYE Factory

Additional investors include Solidium, Tesi, Varma, Ilmarinen, Lifeline Ventures, as well as Nokia, from Finland, Qatar Investment Authority (QIA) and TCV. Together with a secondary placement, the total Series F funding round exceeds EUR 1 billion.

The breadth of the investor group signals recognition that sovereign and commercial access to space-based intelligence is essential to national security and resilience worldwide.

Seven governments to date across Europe have procured sovereign satellite systems from ICEYE, making it the leading provider of space-based intelligence. Proceeds from the funding round will drive the expansion of ICEYE’s global footprint and deepen its intelligence capabilities, positioning the company to meet growing demand and deliver sovereign intelligence systems and data to governments and customers at a new scale.

Rafal Modrzewski, Co-Founder & CEO of ICEYE, said, "The quality of investors who have chosen to back us at this scale reflects a shared belief. Sovereign intelligence from space is entering a new era and the window to build it is now. ICEYE has built the world's most advanced, proven capability to meet that demand. This funding enables us to accelerate the delivery of new capabilities to governments and customers faster than ever before."

Sascha Günther, Managing Director, Head of DACH, and Co-Head of EMEA Technology at General Atlantic, said, “ICEYE has fundamentally redefined Earth observation. The company pioneered the shift to next-generation, agile satellite fleets that deliver greater strategic capability with far greater cost efficiency – and today operates the world’s largest and most advanced SAR constellation on a vertically integrated platform. Rafal and the team are taking breakthrough technology from innovation to commercial and operational success at scale, and we believe global structural demand for ICEYE’s intelligence will continue to accelerate. We are proud to back remarkable builders like ICEYE as they push the boundaries of what’s possible.”

Nokia joins the funding round as a new strategic investor. Justin Hotard, President and CEO of Nokia, said, “Modern defense increasingly depends on combining trusted connectivity with real-time visibility. Nokia and ICEYE bring complementary strengths that can help advance Europe’s defense, resilience and technological sovereignty. This combination will become increasingly important as governments and industries look to build more secure, aware and adaptable critical systems.”

This Series F follows a period of significant momentum for ICEYE. In 2025, ICEYE scaled growth, profitability, and cash generation simultaneously - crossing over EUR 250 million in revenue, and over EUR 100 million in EBITDA, while building a contracted backlog of over EUR 1.5 billion⁽¹⁾. Production is now doubling, from 50 satellites per year today to a target of 100 annually by 2028 and beyond, supported by a matching launch cadence.

Every sovereign system ICEYE deploys strengthens not only the nation that operates it but a broader network of intelligence. ICEYE recently delivered a fully operational sovereign space system to the Polish Armed Forces, from contract signing to operational capability in 12 months, among the fastest sovereign space deployments in history. The model is now being replicated across Europe, the Middle East and Asia, and the pace is accelerating.

The transaction is subject to customary closing conditions and regulatory approvals.

About ICEYE

ICEYE is the world leader in sovereign intelligence from space. We deliver continuous monitoring capabilities to detect and respond to changes in any location on Earth.

ICEYE owns the world's largest and most advanced SAR (synthetic aperture radar) satellite constellation. To our customers we provide intelligence with unmatched quality, latency and revisit times, in any weather, day or night. To governments who choose to operate their own constellation we provide this proven capability as a sovereign system.

ICEYE-built constellations serve customers in defence and intelligence, environmental monitoring, insurance and emergency management. We enable fast decisions that contribute to a safer future.

Natively European, founded in Finland. ICEYE operates globally with over 1,000 employees.

We’re a growing international team of builders. iceye.com/joinus

About General Atlantic

General Atlantic is a leading global investor with more than four and a half decades of experience providing capital and strategic support for over 885 companies throughout its history. Established in 1980, General Atlantic continues to be a dedicated partner to visionary founders and investors seeking to build dynamic businesses and create long-term value. Guided by the conviction that entrepreneurs can be incredible agents of transformational change, the firm combines a collaborative global approach, sector specific expertise, a long-term investment horizon, and a deep understanding of growth drivers to partner with and scale innovative businesses around the world. The firm leverages its patient capital, operational expertise, and global platform to support a diversified investment platform spanning Growth Equity, Credit, Energy Transition, and Sustainable Infrastructure strategies. General Atlantic manages approximately USD 126 billion in assets under management, inclusive of all strategies, as of March 31, 2026, with more than 900 professionals in 20 countries across five regions.

For more information on General Atlantic, please visit: www.generalatlantic.com.

⁽¹⁾ Based on unaudited 2025 financial results.

L-R Divyam Shah, CA Nitant Desai, CA Shubham Makhecha

Founded by CA Shubham Makhecha (AIR 36), CA Nitant Desai, and Divyam Shah, Bucketlistt is building a curated marketplace for verified experiences across India, ranging from bungee jumping and river rafting to spiritual and immersive local experiences. Alongside its consumer facing platform, the company has also launched OkGhumo, an ERP and CRM platform designed specifically for experience and activity operators to manage bookings, operations, and finances.

The company will use the fresh capital to strengthen its technology stack, expand its operator network across key destinations, accelerate customer acquisition, and build out its team.

India’s experience tourism market is estimated at USD 45 billion, driven by rising disposable incomes and growing consumer demand for experiential travel. Despite the size of the opportunity, the sector remains highly fragmented, with travelers often relying on unorganized operators or generic online travel platforms that lack specialization and trust. Bucketlistt is positioning itself as a trusted, technology first platform focused on curated and verified experiences.

Since launching in December 2025, Bucketlistt says it has facilitated over INR 10 crore in bookings on its marketplace and served more than 31,000 customers within its first five months of operations. The company currently operates in Rishikesh, offering experiences such as skydiving, hot air balloon rides, ziplines, giant swings, rafting, camping, and front row access to the Ganga Aarti. As part of its expansion plans, Bucketlistt is preparing to launch in destinations including Manali, Bir, and Jaipur, while broadening its portfolio beyond adventure experiences to include curated cultural and spiritual offerings such as Dinner with the King of Rajwada, VIP Darshan at the Ujjain Mahakal Aarti, and authentic Feni making experiences in Goa. According to the company, every operator listed on the platform is vetted directly by its founding team before onboarding. 

Its recently launched SaaS platform, OkGhumo, is aimed at solving the operational inefficiencies faced by experienced businesses. The platform has already onboarded three vendors collectively representing over INR 40 crore in annual business volume.

“Adventure travel in India has long lacked trust, standardization, and digital infrastructure. Consumers often struggle to find reliable, verified operators, while vendors continue to manage their businesses through fragmented systems. We are building both sides of that infrastructure by creating a trusted discovery and booking platform for travelers, while equipping operators with purpose built software to run and scale their businesses more efficiently. This funding gives us the foundation to deepen our presence in existing markets and expand into new adventure hubs across India,” said Shubham Makhecha, Co founder of Bucketlistt.

Bucketlistt was founded by a team with backgrounds in finance, operations, and technology, with deep personal involvement in the experiences ecosystem. Co founder Shubham Makhecha is also a certified paragliding pilot and trek leader who has guided more than 3,000 participants across India.

“India’s adventure tourism ecosystem is large but still significantly underserved by organized, technology led players,” said Yash Mehta, Angel Investor and Founder, Joyspoon. “What stood out to us was Bucketlistt’s dual platform approach, building a trusted consumer marketplace while also embedding itself deeply into the operator ecosystem through OkGhumo. The founders have demonstrated strong execution in a short period, and we believe they are well positioned to help formalize and scale this category.”

Looking ahead, Bucketlistt plans to launch a consumer mobile app, introduce loyalty and dynamic pricing features, expand to additional destinations across India, and further develop OkGhumo’s product capabilities, including future integrations and AI powered booking infrastructure.

About Bucketlistt
Bucketlistt is an online curated marketplace for experiences, enabling customers to discover and book a wide variety of unique experiences across India. From skydiving in Delhi and attending the Ujjain Mahakal Aarti to exclusive cultural experiences such as dining with the King of Rajwada, the platform is designed to make experiential travel more accessible, trusted, and seamless for modern travelers.

Built on a technology first approach, Bucketlistt carefully curates and verifies every experience and operator listed on the platform to ensure quality, safety, and reliability. Beyond its consumer marketplace, the company is also building digital infrastructure for experience providers through OkGhumo, its ERP and CRM platform designed to help operators manage bookings, operations, and finances efficiently.

Founded in 2025, Bucketlistt is building toward becoming India’s trusted platform for discovering and booking memorable experiences across adventure, culture, spirituality, and lifestyle categories.

Divyansh Kumar Mishra and Prakhar Kumar Singh of Galgotias University secure INR 3 crore investment commitment for CyberGenix, their AI and cybersecurity startup

The startup has been founded by Divyansh Kumar Mishra from the Class of 2026, currently pursuing a Diploma in Computer Science Engineering, and Prakhar Kumar Singh from the Class of 2029, currently pursuing B.Tech Computer Science Engineering with specialisation in Cyber Security and Digital Forensics.

The investment follows the successful completion of the startup’s due diligence process, with the Share Subscription Agreement currently under execution.

Speaking about the vision behind Cybergenix, Divyansh Kumar Mishra said, “Working across Artificial Intelligence, cybersecurity, automation, and intelligent digital systems, Cybergenix is developing a context-driven AI ecosystem designed to address limitations increasingly visible across current AI infrastructure. While AI adoption has accelerated rapidly, many existing systems continue to operate as fragmented tools with limited contextual understanding, weak personalization, and inadequate integration between intelligence, automation, and security systems.”

Highlighting the technology architecture being developed at Cybergenix, Prakhar Kumar Singh said, “We are building an integrated architecture combining large language models, self-learning engines, automation frameworks, cybersecurity systems, and digital twin technology to create adaptive and behaviour-aware AI infrastructure capable of understanding workflows, user intent, and operational environments in real time.”

Among the technologies under development is a system-level AI assistant capable of interacting with applications, files, workflows, and operating environments through contextual intelligence and voice interaction. The startup is also developing digital twin systems capable of creating intelligent virtual representations of users for workflow execution, meetings, task management, and decision support. Additional capabilities include self-learning behavioural adaptation, emotion-aware interaction, cross-platform automation, voice and vision interfaces, and cybersecurity-first deployment infrastructure.

The startup has also received support through IIT Ropar’s iHub AWaDH, IIT Ropar under North Sprint Edition at Galgotias Ideathon 2025 and has been recognised through platforms including Smart India Hackathon, Eureka and multiple technology and innovation communities.

Commenting on the investment, angel investor Mr. Adil Jamal said, “A lot of young founders today are building applications on top of existing AI systems. What interested us here was that Divyansh and Prakhar were thinking much deeper about infrastructure, behaviour, automation, security, and how these systems interact in real environments. They are attempting something technically demanding and they have shown unusual persistence and clarity for founders at this stage.”

Dr. Dhruv Galgotia, CEO of Galgotias University, said, “Student-led ventures are beginning to emerge from a much larger innovation and technology ecosystem taking shape across the university. Student teams from Galgotias University have recently been selected to represent India at the Global EDVentures Startup Competition in Hong Kong, students from the university have developed live applications on Apple iOS, and several students have gained recognition through global technology and innovation platforms. The ability of students at such an early stage to attract a funding commitment of this scale also points to the growing seriousness with which young founders are approaching technology, innovation, and entrepreneurship.

Students today are getting exposure to startup building, product development, Artificial Intelligence, app ecosystems, and interdisciplinary collaboration much earlier. Access to advanced infrastructure such as the NVIDIA DGX H200 high performance computing ecosystem is also enabling students to work on AI systems and computational problems that require serious computing capability. Over time, these environments begin creating the confidence to attempt ambitious ideas and build beyond classroom assignments.”

The founders say their long-term vision is to build an integrated AI ecosystem combining Artificial Intelligence, cybersecurity, automation, and digital identity into a single intelligent platform capable of delivering highly personalised and autonomous interaction systems.

Across the Galgotias University campus, students are increasingly building products, experimenting with emerging technologies, engaging with investors, and developing deployable systems alongside their academic programmes. Startups like Cybergenix reflect how the university’s innovation, incubation, and high-performance technology ecosystem is beginning to translate into real ventures, products, and funding outcomes.

Building on its strong market momentum, Bombay Banta — the country’s fast-growing homegrown beverage brand reimagining the most beloved Indian flavours for today’s modern consumer has raised Rs 8 crore in a Pre-Series A funding round led by DSG Consumer Partners, which also led the company’s seed round in late 2023. This marks a major milestone, as Bombay Banta aggressively accelerates its rapid expansion journey across India’s booming beverage and quick commerce ecosystem.

L to R Akkshita Malhotra,  Meet Singh Malhotra, Co-founders, Bombay Banta

The company has also attracted strategic investment from hospitality entrepreneur Kapil Chopra, founder of EazyDiner and The Postcard Hotel. In the brand’s formative years, the founders were also supported by close hospitality industry collaborators and early investors including Simrita Arora and Chef Deep Mohan Arneja, who contributed to Bombay Banta’s product development and brand-building journey.

Akkshita Malhotra and Meet Singh Malhotra, Co-founders at Bombay Banta, shared, "This fundraise marks a significant inflection point for Bombay Banta. It reaffirms our conviction to disrupt the Indian beverage market as a brand that uniquely interprets flavour memories that generations have grown up with. Reimagined for today’s modern consumer with better ingredients, a distinctive range, premium branding, and world-class packaging – this capital with the backing of our investors will enable us to accelerate our vision across India and on a global stage over time.”

“Bombay Banta is building a highly differentiated Indian beverage brand at the intersection of nostalgia, flavour and modern consumer relevance. Meet and Akkshita have demonstrated exceptional product instinct and brand-building capability in a highly competitive market, while creating strong resonance with consumers across channels. We are excited to deepen our partnership with them as they continue scaling Bombay Banta into a large and enduring consumer brand,” added Hari Premkumar, Partner, DSG Consumer Partners.

Bombay Banta: Growth story so far
Founded in 2021, by the husband-wife duo - Akkshita Malhotra and Meet Singh Malhotra, Bombay Banta was built on a simple but ambitious belief that India’s most iconic local flavours deserved world-class branding, packaging and scale. What began as an attempt to modernise the nostalgic Indian banta experience has rapidly evolved into one of the country’s most exciting beverage brands that is challenging both established and emerging market players.

Today, Bombay Banta’s has eight distinctive variants in its current product portfolio of bold, distinctly Indian flavours. Its carbonated range includes – Masala Cola, Masala Soda, Kala Khatta, Jeera Soda, and Lemon Soda, while its non-carbonated range has low-sugar, vitamin-rich lemonades for the health-conscious consumer - Masala Shikanji, Nimbu Shikanji and Jamun Shikanji.

Bombay Banta first gained widespread visibility after becoming the featured beverage onboard Vistara Airlines, introducing the brand to premium urban consumers across India. Since then, the brand has rapidly expanded its presence across leading airlines, restaurants, cafés, delivery-first food brands and hospitality groups.

As on 2026, Bombay Banta is being served across hundreds of hotels and restaurants across India, including several premium and luxury hospitality brands that now stock the beverages across minibars, in-room dining and restaurant menus. A growing number of restaurant chains and food brands have also begun moving away from traditional global soft drink offerings in favour of Bombay Banta’s modern Indian beverage portfolio. Further, its product range is available across all leading quick commerce and e-commerce platforms including Blinkit, Zepto, Swiggy Instamart, Flipkart Minutes and BigBasket, where the brand has emerged as one of the fastest-growing players in its category.

Next phase of rapid growth and expansion:
This Pre-Series A raise will fuel Bombay Banta's next phase of growth. The latest funding will be deployed toward - accelerating Bombay Banta’s pan-India expansion, strengthening distribution, deepening quick commerce penetration, and significantly expanding the product portfolio over the coming months. Bombay Banta is also preparing to launch Diet Vanilla Cola later in May, marking its entry into the zero-sugar, zero-calorie carbonated beverage segment.

The company has also seen sharp momentum in business performance. Even before the funding round formally closed, Bombay Banta recorded nearly 50 percent growth in sales during the course of investor discussions, with the founders now targeting a doubling of revenues over the next six months driven by strong summer demand and new product launches.

The Pre-Series A round values Bombay Banta at Rs 80 crore, marking a remarkable rise from the company’s early-stage valuation in a relatively short span of time. The rapid acceleration in both customer adoption and investor interest reflects the growing success of Bombay Banta’s vision to build a modern, globally relevant beverage brand rooted in Indian flavours and nostalgia.

At its core, Bombay Banta is building far more than a beverage company. The founders believe the next great global beverage brand can emerge from India, rooted in nostalgia, authenticity and local flavour, yet designed for a modern global consumer.

As the company enters its next phase of growth, Bombay Banta aims to challenge an industry long dominated by global giants - one Indian flavour at a time.

For more information on the brand, visit: Instagram handle @bombaybanta

Additional Notes
About the founders: Since its inception in 2021, Bombay Banta has become the country’s fastest growing, Indian beverage brand reimagining India’s most-loved nostalgic flavours for today’s modern consumer. Co-founders and husband-wife duo - Akkshita Malhotra and Meet Singh Malhotra, bring deep hospitality and consumer experience backgrounds to the business. Akkshita Malhotra leads brand and consumer strategy at Bombay Banta, she was formerly associated with prestigious hospitality and consumer brands like Nestlé and PVR. Meet Singh Malhotra, fronts the crafting of the unique recipes behind Bombay Banta’s signature flavours, he is a Gold Medallist from The Oberoi Centre of Learning & Development, and among the youngest Executive Chefs within the Oberoi ecosystem.

Dr. Rupali Ambegaonkar and Sannjeev Rao

The fresh capital will be deployed across product innovation, team expansion, marketing, and an accelerated retail rollout across the country. Bobakat's growth engine is built on compact, experience-first outlets strategically positioned across high-footfall food courts and premium high streets, a format that is already proving its mettle with consumers and delivering strong unit economics for the business.

Founded in 2024 by Dr. Rupali Ambegaonkar and Sannjeev Rao, Bobakat was built on a sharp conviction: that India's urban, young consumer was ready for a beverage brand that offered more than a drink; one that delivered a global experience rooted in local sensibility. That conviction has been validated decisively. The brand has served over 10 lakh consumers, is recording strong double-digit year-on-year growth, and is currently valued at INR 43 crore. The target now is INR 100 crore in Net Sales Value within 36 months, backed by a clear, capital-efficient expansion plan.

The macro tailwinds are undeniable. India's beverage market, valued at USD 80.11 billion in 2025, is on course to reach USD 154.67 billion by 2035, growing at a CAGR of 6.80%. Within this landscape, the premium and experiential beverage segment represents one of the most exciting white spaces and Bobakat is firmly positioned to capture it.

Speaking on the fundraise, Dr. Rupali Ambegaonkar, Founder, Bobakat, said, "The Indian consumer today is seeking more than just beverages; they are looking for experiences, community spaces, and global formats adapted for local preferences. With Bobakat, our vision has always been to build a culturally relevant beverage brand that combines quality, innovation, and accessibility. This fundraise gives us the momentum to strengthen our operations, innovate across our offerings, and scale aggressively across key Indian markets."

Co-founder Sannjeev Rao added, "We see immense headroom in India's organised beverage ecosystem, especially within youth-driven consumption categories. Our compact and scalable retail model allows us to enter high-potential locations efficiently while maintaining strong unit economics. The next phase of growth will focus on expanding our store network, building stronger consumer recall, and creating a differentiated beverage experience."

What makes Bobakat a particularly compelling story is the founding team behind it. Dr. Ambegaonkar brings formidable category expertise as the founder of Tea Culture of the World (TCW), a premium tea brand now present across 200+ stores in India. A former medical professional turned tea sommelier, she has spent years crafting globally inspired beverage experiences for Indian consumers and understands, better than most, what it takes to build a beverage brand with staying power. Sannjeev Rao is one of India's most accomplished retail operators, with over 30 years of brand-building and turnaround experience across Future Group, Aditya Birla Retail, Landmark Dubai, and Raymond, and most recently as CEO of Being Human. Together, they bring the rare combination of consumer insight, category depth, and hard-won retail execution expertise that early-stage brands rarely have access to.

Bobakat's differentiation in the crowded premium beverage space rests on four pillars: a quality-first product approach, sharp and deliberate audience positioning, a curated in-store consumer experience, and a store format designed for speed of replication without compromise on brand integrity.

The expansion roadmap reflects the brand's ambition with 35 new stores in FY26–27, followed by 50 stores each in FY27–28 and FY28–29, spanning metro cities and high-growth emerging urban markets. With this raise, Bobakat isn't just opening new stores it is staking its claim as the defining bubble tea and experiential beverage brand of India's next decade.

Monitra Healthcare Founders - From L to R - Sashank Bhogu, Aparna Bhogu and Ravi Bhogu
 

The round marks a strong vote of confidence in Monitra's clinical maturity, IP depth, and global ambition. When Monitra Health closed its funding round in December 2023, the story was about potential. Two years on, that thesis has been decisively validated. Monitra is no longer building the category - it is defining it.
 

Expanding clinical and commercial scale

• 50,000+ patients monitored on the upBeat® platform - a 5x jump from 10,000 at the time of the previous round, reflecting both deeper hospital adoption and broader physician preference.

• 10+ billion heartbeats analyzed, one of the largest proprietary high-resolution continuous ECG datasets.

• Revenue has grown 11x over the past four years, driven by disciplined execution, capital efficiency, and an expanding base of prescribing clinicians.

• Leading hospital adoption: trusted by marquee networks & clinicians from Manipal, Apollo, Aster and AIG, with an expanding footprint across Tier 1-Tier 4 cities in India.

A rare full-stack category position

Remote cardiac monitoring is projected to grow from USD 4.1 billion in 2024 to USD 12 billion by 2034 (11.3% CAGR, Market.us 2026). Yet the full-stack opportunity - owning the device, signal-acquisition technology, clinical reporting workflow and analytics layer - remains concentrated among a small handful of incumbents globally. Monitra is among a small group of companies globally to have built a full-stack platform end-to-end to have built that full stack end-to-end, powered by its proprietary XtremeSpan™, NanoVue™ and DeepFind™ technology and a dataset of billions of real-world heartbeats. This vertical integration drives upBeat®'s diagnostic precision, cost advantage and scalability - and makes the company structurally hard to replicate.
 

Why clinicians, hospitals, and global talent are aligning
Seasoned global medtech operators and leading cardiologists and electrophysiologists are aligning with Monitra as advisors, collaborators, and champions. For hospital systems, upBeat® is both a clinical and commercial lever: continuous monitoring captures arrhythmic events that short-duration tests miss - improving diagnostic yield, accelerating the path to the right intervention, and driving better patient outcomes - while opening a recurring, reimbursable revenue stream for cardiology service lines that scales with no proportional increase in clinician time or operational overhead.
 

The road ahead
Monitra enters its next phase of growth from a position of unusual strength for a medtech company at this stage - a proven product, growing clinical footprint, 11x revenue growth, strong IP, a maturing international regulatory pathway, and a category position rare anywhere in the world. The focus over the coming quarters is clear: accelerate global certifications, scale commercial reach within India, and continue building the clinical, scientific and organizational depth of a company operating on a global stage.
 

In their words:

“Our last round was about proving this could work. This one is about proving it can work everywhere. Crossing 50,000 patients, analyzing over 10 billion heartbeats, and growing revenue 11x has moved upBeat® from a promising platform to an indispensable one for a growing number of clinicians. We are grateful to this set of investors for backing that future with us,” Ravi Bhogu, Founder & CEO, Monitra Health.

“We are truly upBeat about our investment in Monitra Health. It is rare to find a company that combines strong IP, patented technology, cost advantage, and a world-class product built in India for global markets. With growing adoption among leading hospitals and cardiologists, Monitra has demonstrated both innovation and execution. We believe the company has the potential to become a global leader in cardiac monitoring - from India to the world,” Avinash Kalia, New Age India Fund.

“We first backed Monitra when the thesis was still being tested. Doubling down today is one of the easier decisions we have made — the clinical footprint has scaled 5x, revenue has grown 11x, the IP has deepened, and the team has stayed remarkably disciplined with capital. Monitra has exactly the kind of deep-tech healthcare solutions India should be exporting to the world,” Vasu Guruswamy, Co-founder & General Partner, Lavni Ventures.

“As practicing clinicians, we see the diagnostic gap in heart rhythm disorders every day. What Monitra has built is genuinely rare — a device and reporting workflow that is clinician-grade in accuracy, patient-friendly in design, and affordable enough to reach the populations that need it most. Global HealthX is privileged to support this team as they take it worldwide,” Dr. Ravindranath Kancherla, Global HealthX.

About Monitra Health
Monitra Health is building upBeat®, a full-stack remote cardiac monitoring platform and one of the few vertically integrated players in the global category. By owning the stack across wearable hardware, proprietary signal-acquisition technology, cloud software, analytics and clinical reporting, Monitra has created a defensible position in a fast-growing global category. Monitra's innovation is backed by patents granted in the United States, Australia and India, with additional filings underway.
 

Learn more at www.monitrahealth.com.

Vishal Rupani, Rishabh Kathotia, and Mohit Khadaria

Sprect enables anyone to book a focused 1:1 video call with professionals who are otherwise hard to reach. Thousands of verified professionals across finance, careers, business strategy, and technology have made their time available on Sprect, spanning alumni of IIMs, IITs, ISB, and UCLA; professionals from Airtel, Google, Times Internet, and WarnerBros. Discovery; Formula car drivers; and senior government officials.

Rishabh Kathotia, Director at Subhkam Ventures

“Expert access has historically been a privilege of the few,” said Rishabh Kathotia, Director at Subhkam Ventures. “Sprect is building the infrastructure to change that, with a credible PRO network, a clear institutional use case, and founders with the depth to execute on both sides of the platform. We are backing Vishal and Mohit for the long run.”

The professionals people most need to speak with are rarely the easiest to reach. A first-generation founder has no straightforward path to a candid conversation with a CFO who has navigated multiple funding cycles. A mid-career professional cannot easily connect with a senior leader at a company they aspire to join. Sprect removes that barrier, connecting anyone who needs expert guidance with the right professional, on demand. Institutions like SP Jain Institute of Management and Research (SPJIMR) have partnered with Sprect to keep their alumni connected across batches and years.

Mohit Khadaria, Co-founder of Sprect

“This funding round validates what we have always believed, that structured expert access is a real and growing need,” said Mohit Khadaria, Co-founder of Sprect. “Colleges want their alumni engaged and contributing. Organisations want curated knowledge flowing through their teams. We are already seeing this with multiple institutions, and this round lets us deepen that work significantly.”

Professionals on Sprect set their own availability, choose whether to offer paid, free, or charity calls, and define the topics they want to be approached for, with Sprect handling scheduling, payments, and video infrastructure end to end. Professionals looking to make their expertise accessible can apply for a free profile at sprect.com/pros

“The right 10 minutes with the right person can change the trajectory of a career or a business,” said Vishal Rupani, Co-founder of Sprect. “India has millions of professionals who have spent decades building exactly that kind of expertise, yet there has never been a dignified, structured way for them to offer it. Sprect changes that, giving every professional a platform to make their knowledge accessible on their own terms. This raise is about getting that opportunity in front of many more professionals.”

About Sprect

Sprect (short for Super Connect) is a platform that makes hard-to-reach professionals accessible to anyone who needs their expertise. Through focused 1:1 video calls, Sprect connects individuals with verified professionals spanning finance, careers, business strategy, technology, and more, including alumni of IIMs, IITs, ISB, and UCLA; professionals from leading global organisations; and senior domain experts across industries. Institutions including SPJIMR use Sprect to keep their alumni connected across batches and years. Visit sprect.com
 

About Subhkam Ventures

Subhkam Ventures (I) Private Limited is a registered NBFC incorporated in 1995, operating from Mumbai. Subhkam invests across public markets and private equity, partnering with high-potential businesses through capital and strategic advisory. Visit subhkam.com

Unbound is entering India’s rapidly evolving men’s personal care market with a philosophy that challenges how the category has traditionally been built. The brand has raised INR 8 crore in funding, led by Fireside Ventures, as it gears up to launch its first range of products across skin, hair, and body care.

Kanika Mittal, Co-Founder and CEO & Atul Arora, Co-Founder & COO of Unbound

At the core of Unbound lies the idea of Zero-Step Self-Care. Instead of encouraging layered routines or single-problem solutions, the brand focuses on engineering high-performance formulations that combine multiple functions into one seamless experience. The approach is rooted in simplifying grooming without compromising on efficacy, making it more intuitive and time-efficient for modern consumers.

India’s men’s personal care market has largely been shaped by basic hygiene offerings or adapted versions of broader beauty products. However, evolving lifestyles are beginning to shift this narrative. A new generation of men is increasingly engaging with fitness, outdoor activity, and high-performance routines, creating a demand for products that are not just functional but also adaptive.

Unbound is being built for a life in motion, with a product philosophy centred on multi-functional care that addresses everyday stressors like sun exposure, sweat, pollution, and hard water. Through consolidated, performance-driven formulations enriched with premium ingredients, the brand aims to simplify men’s self-care into a streamlined, high-impact routine. Designed specifically for men’s unique needs—such as higher sebum production, thicker skin, and greater environmental exposure—it delivers targeted and effective care.

Speaking about the brand, Kanika Mittal, Co-Founder and CEO of Unbound, said, “At its core, Unbound is about freedom. The brand is built on a simple belief that men are more than the roles they are expected to play, and that self-care can be a powerful expression of that freedom. Our research showed that men feel most like themselves when they are immersed in activities they love, whether it’s sport, fitness, or pushing their limits. That insight became the starting point for Unbound. We are extending this idea of liberation across every aspect of the brand—from the moments that matter most to men, to freeing them from sub-par products and unnecessary complexity. At Unbound, everything is designed to enable men to care for themselves without friction, so they can live fully, freely, and in motion.”

Atul Arora, Co-Founder and COO of Unbound, added, “Unbound is being built as more than just a personal care brand. Men’s grooming in India is evolving from basic hygiene to more considered self-care, and we see a clear whitespace for a brand that brings together scientific credibility with a premium, lifestyle-led identity. Having Fireside Ventures partner with us at this stage is incredibly meaningful, given their experience in building some of India’s most iconic consumer brands. This funding allows us to scale responsibly, accelerate product innovation, strengthen brand building, and expand our digital-first distribution across India.”

Prayag Mohanty, Principal who leads Early Venture investments at Fireside Ventures, added, “The men’s personal care category in India is entering an exciting phase of evolution, moving beyond basic grooming to performance-led skincare solutions. Unbound stands out for its clear philosophy of simplifying grooming while delivering high-efficacy formulations designed for modern lifestyles. We feel Kanika and Atul, who come with deep domain expertise and very complementary skillsets across brand building, growth, consumer insight, and product development, are best placed to address this large, growing consumer segment. We believe the brand sits at a compelling intersection of performance and self-care, and we are excited to partner with the team as they build a differentiated offering in this fast-growing category.”

Building Foundational AI Models for Banking in India from India

The round also saw participation from a powerhouse group of fintech veterans and technologists, including Navin Kukreja (Founder, Paisabazaar), Gaurav Aggarwal (former CXO, Paisabazaar), Prasanna Rao (Co-founder, Arya.ag), along with a diverse group of Bay Area angels and also counts leading investors including Brigade REAP, Prarambh Ventures, IIMA Ventures, Inflection Point Ventures on its cap table.

Revolutionizing Secured Lending through AI

The capital infusion comes as India’s financial services sector undergoes a structural shift toward AI adoption in secured lending, risk assessment, and underwriting. With Micro-LAP and secured MSME credit emerging as strategic priorities for Banks, HFCs, and NBFCs, Navanc’s AI-driven infrastructure has moved from a "value-add" to a core necessity for institutional growth.

Navanc provides explainable credit underwriting AI infrastructure designed specifically for Home Loans, Secured Working Capital, and Loan Against Property (LAP). By digitizing and standardizing property diligence, Navanc enables faster, compliant loan origination, automated revaluation, and real-time portfolio monitoring.

Leadership Perspective

“We are excited to partner with Navanc as they build the digital infrastructure layer for India’s secured lending ecosystem. With strong enterprise adoption and clear product-market fit, Navanc is well-positioned to become a category-defining property-credit intelligence platform. We look forward to supporting the team as they scale into a large and enduring financial infrastructure company,” Manish Goel, Founder, Equentis

“The investment from Equentis has come in at the dawn of Navanc’s exponential growth, with our ARR, and client size increasing by 150% and 283% respectively,” said Nagachethan SM, Co-founder and CEO of Navanc. “This additional capital allows us to double down on our vision of building an intelligent, self-improving ecosystem that financial institutions can trust as their foundational risk layer.”

Byom Kesh Jha, Co-founder and CT&DO, added, “Property-based lending requires more than digitization—it demands deep domain intelligence and a strong foundational assessment AI stack. At Navanc, we are building across multiple layers of property assessment, with live use cases already reducing human dependency by 80–90% and turnaround times from days to hours. This funding is a significant milestone for us, enabling stronger R&D and deeper domain capabilities. It will help us move closer to building a scalable, pan-India property intelligence stack.”

Expanding Footprint

Navanc currently operates as a B2B platform, serving over 35+ institutional customers, including Small Finance Banks (SFBs), NBFCs, and HFCs. The newly raised capital will be deployed to:

• Accelerate Product Development: Enhancing the AI-first architecture for deeper property risk insights.

• Market Penetration: Scaling operations to meet the surging demand across the secured credit ecosystem.

• Team Expansion: Hiring top-tier talent across all departments.

About Navanc

Navanc is India’s first AI-native banking infrastructure company, dedicated to transforming how financial institutions understand and manage property-led risk. By bridging the gap between physical collateral and digital underwriting, Navanc is setting the default standard for secured lending in the "Decisive Decade" of Indian fintech.

Founding Team - NowPurchase

The newly raised capital will be strategically deployed to accelerate key growth initiatives, with NowPurchase focusing on strengthening its core offerings such as scrap recycling, expanding its portfolio of branded products, and scaling its AI-powered platform, MetalCloud.

NowPurchase, founded in 2017 by Naman Shah and Aakash Shah, with an initial investment of $300K from Nipha Group, offers an AI enabled procurement solution that enables metal manufacturers to source high-quality raw materials such as scrap, alloys, and additives in a transparent and reliable manner. The company differentiates through its network of scrap processing centers and branded products for alloys and additives. NowPurchase’s AI platform MetalCloud helps metal manufacturers digitize & optimize their production process leveraging IoT & Computer Vision.

Speaking on the announcement Naman Shah, Founder & CEO, NowPurchase said, “We are delighted to have Bajaj Finserv as a partner in our next phase of growth. This investment will accelerate our investment in R&D capabilities & scrap recycling infrastructure to drive innovation and create meaningful value for our customers. Backed by a strong pan-India presence and an expanding global footprint, NowPurchase is well-positioned to double down on its core operations and continue scaling with strong unit economics.”

Aakash Shah, Co-founder NowPurchase highlighted, “This funding will fast-track the growth of MetalCloud—our AI-powered platform built to digitize and optimize production in metal manufacturing. We believe AI can fundamentally transform shop-floor operations, and MetalCloud is positioned to lead that shift.”

Mrs. Lakshmi Iyer, CEO of Bajaj Alternates, said, “We are pleased to join hands at a defining moment in the growth journey of NowPurchase. The company’s strong nationwide pan-India presence, expanding global ambitions, and its AI-enabled platform, positions it well to transform the metal manufacturing ecosystem.”

Mr. Girish Jhunjhunwala, Fund Manager – PE and VC Investments at Bajaj Alternates, said, “This investment reflects our conviction in using technology to drive efficiency, innovation, and resilience across procurement, finance, and the company’s supply chain. We are committed to supporting NowPurchase’s scale-up journey and enabling long-term value creation.”

With this latest infusion, NowPurchase has raised approximately Rs. 120 crore (14.46 million USD) in total equity funding to date.

The funding will accelerate Uncia’s growth in India while simultaneously funding the company’s entry into the Middle East, North Africa (MENA), and North American markets. Uncia has also announced its intent to pursue a public listing in the next few years, positioning this round as the first chapter of what the company’s leadership describes as a multi-year journey toward becoming a globally scaled, publicly accountable lending technology institution.

Hari Padmanabhan

“We made a deliberate choice to build before we raised. Every rupee we invested came from the conviction that if we solved the right problem well enough, the market would validate it. Today, we manage over 2 lakh crore rupees cumulatively for some of India’s top NBFCs, and we believe we’ve proven our thesis. This funding is not a beginning but a gear shift. We have the product. We have validation at scale and diversity. Now we have the capital to take this to the world. We’re pleased to partner with Pavestone. Their investment values align closely with our mission, and we look forward to drawing on the strategic insight of their leadership team.” - Hari Padmanabhan, Chairman, Uncia.

In an era defined by heavily funded fintechs and venture-backed growth stories, Uncia represents something increasingly rare: a technology company that chose to let its product do the talking before its pitch deck did. Without external capital, the company had no choice but to be relentlessly precise about what it built, for whom, and why. The result is an AI-native platform suite that today powers loan origination, loan management, and supply chain finance operations for some of India’s most respected financial institutions.

Uncia’s AI-native platforms are designed around a philosophy the company calls ‘self-serve lending infrastructure’: the ability for a financial institution to configure, launch, and manage complex lending products independently, without change requests, IT dependencies, or implementation delays measured in quarters. Over 2 years of dedicated AI research, conducted in collaboration with IIT Madras from Uncia's base at the IITM Technology Research Park, is now beginning to deliver measurable results. Early adopters among Uncia's clients are already seeing direct cost efficiencies and smarter underwriting outcomes powered by these models.

“At Pavestone, we focus on backing businesses that are solving structural problems in large enterprises, with a clear path to scale and profitability. The lending ecosystem is expanding rapidly, yet much of the underlying technology remains constrained by legacy systems that cannot support the speed, flexibility, and intelligence lenders now require. Uncia has built a unified, cloud-first platform with embedded AI capabilities that addresses these challenges while enabling rapid deployment and ‘pay-as-you-grow’ scalability. We believe the company is well-positioned to deliver durable value.” - Srikanth Tanikella, Managing Partner, Pavestone Capital.

About Uncia Technologies Private Limited

Uncia Technologies is a Chennai-based AI-Native lending technology company that builds the digital infrastructure powering India’s banks and NBFCs. Founded on the belief that financial institutions deserve technology as sophisticated as the problems they solve, Uncia offers three integrated platforms: UnciaPrime (Loan Origination System), UnciaLeap (Loan Management System), and UnciaFlow (Supply Chain Finance and Digital Lending). The company’s platforms today process over INR 2 Lakh Crore AUM across leading financial institutions, including some of India’s largest and most respected lenders.

About Pavestone VC

Pavestone, a Hyderabad-headquartered VC firm, brings timeless investing principles to modern Venture Capital with a philosophy of supporting committed innovators with smart capital to build real-world value. Pavestone Technology Fund, with an INR 816 Cr corpus, fosters early growth-stage B2B technology companies that solve critical challenges for large public and private enterprises. The fund’s focus is on companies with validated market traction, established product-market fit, and partnerships with anchor clients. They also selectively invest in early-stage ventures pioneering high-impact technologies, targeting significant breakthroughs in enterprise solutions.

Novelty Wealth Founders (L–R): Sajal Gupta (CTO), Naveen Changoiwala (CEO), and Apurva Agarwal (CPGO), leading the company’s technology, strategy, and product vision respectively

The funding comes at a pivotal moment as India undergoes a structural shift toward digital, data-driven investment advisory driven by rising retail participation, increased financialisation of savings, and growing demand for transparent, unbiased financial guidance.

Early Traction Highlights

• 30,000+ app downloads since launch

• Strong engagement with NovaAI, validating demand for AI-driven financial guidance

• Early Pro membership adoption trends among users seeking deeper portfolio & Mutual Fund advisory

• Increasing usage of family dashboards and goal-based planning tools

The Problem: A Fragmented Financial Landscape

Despite record retail participation in India's capital markets, most investors still lack a unified, actionable view of their financial lives. Investments are scattered across banks, brokerages, and mutual fund platforms - making it difficult to understand true net worth, portfolio performance, risk exposure, and tax implications.

At the same time, affluent Indians are largely served by commission-driven products, creating structural misalignment between agent incentives and investor interests.

The result: gaps in transparency, trust, and long-term decision-making quality, leaving investors to navigate growing complexity without structured, unbiased guidance.

The Solution: A Purpose-Trained AI Wealth Intelligence Platform

Novelty Wealth is building purpose-trained AI wealth intelligence platform that aggregates financial data across accounts and transforms it into structured, actionable insights. Rather than functioning as a simple tracking or transaction tool, it is designed as a decision-making layer for personal finance.

Beyond portfolio tracking, the platform enables investors to:

• Access purpose-trained AI financial insights via NovaAI - your private wealth advisor, delivering real-time, unbiased guidance, and 24×7 clarity to help you make smarter, more confident financial decisions

• Connect banks, brokerages, and investment accounts automatically through seamless data aggregation

• Evaluate portfolio performance, risk, diversification, and concentration exposure

• Manage finances across entire families from one interface

• Identify tax-efficient opportunities and optimise investment decisions

• Align financial decisions with long-term goals such as retirement, home ownership, or education

​

Novelty Wealth operates on a zero-commission, fee-only advisory model and is a SEBI-RIA licensed, ensuring regulatory alignment, transparency, and recommendations that are always aligned with investor interests.

Founder's Perspective

“Our vision is to make wealth advisory accessible and affordable for every Indian investor. In today’s time, investors juggle across multiple apps and get fragmented information and biased advice. We built Novelty Wealth to solve that problem by giving people a unified financial view and a purpose-trained AI assistant that helps them make smarter decisions with complete transparency. We are seeing a clear shift toward data-driven financial decision-making. Today’s investors don’t just need access to financial products, they need clarity and control,” said Naveen Changoiwala, CEO & Co-founder, Novelty Wealth

Investor Perspective

"We’ve always known AI could transform personal finance, but building the right product requires a tough mix of tech skills, regulatory knowledge, and a deep understanding of what users actually need, i.e., something that works in the background. When we met the founders, we knew they had what it takes to get this right," said Anand Lunia, Founding Partner, IndiaQuotient

Market Opportunity

India's wealth management industry is undergoing a structural transformation, driven by rising disposable incomes, increased retail participation in equities and mutual funds, and a broad shift toward digital-first financial behaviour. However, the ecosystem remains highly fragmented, with limited integration between tracking, advisory, and decision-making tools.

This creates a large, underserved opportunity for platforms that can unify data, provide actionable intelligence, and deliver regulated, unbiased advice at scale. Novelty Wealth is positioned at the intersection of these structural shifts, building a purpose-trained AI financial intelligence layer for the next generation of Indian investors.

Founding Team

Novelty Wealth was founded by a team with deep experience across financial services, technology, and product innovation:

• Naveen Changoiwala (CEO & Co-founder) leads the company vision, strategy, and growth

• Sajal Gupta (CTO & Co-founder) leads technology architecture and platform engineering

• Apurva Agarwal (CPGO & Co-founder) leads product, user experience, growth, and distribution

About Novelty Wealth

Novelty Wealth is a SEBI-RIA licensed firm that has developed a purpose-trained AI wealth intelligence platform for Indian investors. The platform offers a unified view of financial assets and liabilities, backed by purpose-trained AI insights, portfolio analytics, tax optimisation, and goal-based financial planning, all within a zero-commission advisory model.

Novelty Wealth is committed to delivering transparent, unbiased, and data-driven financial guidance, enabling investors to make informed, long-term decisions with confidence.

Website: www.noveltywealth.in.

TimBuckDo Closes Rs 2.70 Crore Funding Round Backed by Industry Titans and VCs After National TV Showcase on Ideabaaz

The interest generated during TimBuckdo’s participation on Ideabaaz has now culminated in a completed and fully closed funding round, with all investors concluding their due diligence and formal commitments.

The round saw the participation from a group of global investors including Sandesh Sharda, Turbostart, Anupam Bansal, Arjun Vaidya, and Shaili Chopra, along with Rukam Capital, headed by Archana Jahagirdar, Ideabaaz’s investment arm, and the co-founders of Ideabaaz.

The total investment, which expanded from initial on-air interest to Rs. 2.70 crore, reflects strong conviction in TimBuckdo’s mission to build India’s largest and most trusted student ecosystem.

A Significant Moment for TimBuckdo

TimBuckdo’s journey from national television to a fully closed investment round marks a meaningful milestone for the company. The structured process from pitch, to investor engagement, to diligence, to closure, highlights the platform’s credibility and the growing market readiness of India’s student workforce.

Investor Statements

Ganesh Raju, Founder - Turbostart

"We invested in Timbuckdo because we saw a team with real passion and lived experience tackling a problem many Indian students face every day which is finding flexible, meaningful ways to earn, learn, and gain experience while they study. The founders’ deep commitment to empowering students and their thoughtful approach to building a safe, scalable gig ecosystem convinced us that Timbuckdo isn’t just solving a problem, it’s shaping how India’s students access opportunity and build their futures"

Sandesh Sharda, Angel Investor and Titan on Ideabaaz

“I could relate to the GiG workers problem and TimBuckDo solves it very well. The Management Team is driven and looks like Gig workers will continue to grow in India as we are a young economy driven by youth”

Anupam Bansal, Executive Director, Liberty Shoes and Titan on Ideabaaz

“Timbuckdo is opening meaningful pathways for students through gig opportunities, real-time earnings, and exposure to new ideas. I’m proud to support them with both capital and mentorship as they shape the future of young talent.”

Arjun Vaidya Managing Partner, V3 Ventures I Ventures Lead - India, Verlinvest Founder, Dr. Vaidya's (acquired) and Titan on Ideabaaz

"India's young population is a superpower that many don't talk about. With the rest of the world facing an aging population crisis, we have an opportunity. But, we need to do something about it. As a student, I always wanted to work but I never got my due. Seeing the Timbuckdo pitch brought these things together. Respectable, structured and most importantly PAID work for students in a platformized manner. The size of the opportunity is massive and Ideabaaz is excited to see what this team does with it!"

Mudit Kumar, Co-Founder, Ideabaaz

“The gig economy is redefining how young Bharat learns, earns, and experiments and it's no longer limited to professionals - it’s rapidly becoming a gateway for students and young talent to gain real-world exposure early. Timbuckdo is playing a critical role in building this culture by enabling structured, trusted gig opportunities at scale. We believe platforms like these will be foundational to Bharat’s future of work.”

Co-Founder Statements

Mythri Kumar, Co-founder, TimBuckdo -

“Ideabaaz gave us a stage to share our mission, but the trust placed in us throughout the diligence and funding process has been the true milestone. We intend to use the funds and the exposure from the show judiciously to strengthen our student community and make gig work a widely adoptable culture. With marquee investors backing us, our confidence in scaling TimBuckdo has only grown stronger.”

Apoorv Sharma Prasad, Co-founder, TimBuckdo -

“Closing this round with the backing of respected investors and partners is a moment of immense responsibility. The process was detailed and thorough, and its successful completion gives us the momentum to accelerate our next phase-from our AI-led student engine to expanding across campuses nationwide.”

About TimBuckdo

TimBuckdo is India’s first social-commerce platform built exclusively for students, empowering them to earn, upskill, and become financially self-reliant through meaningful gig opportunities. The platform brings together AI-driven job matching, dynamic in-store discounts via QR codes, a rapidly expanding campus ambassador network, and full-stack tools for digitising campus events and activities all designed to strengthen the student gig ecosystem and make part-time work an accessible, reliable, and rewarding culture across India.

About Ideabaaz

Ideabaaz, aired on ZTV and Z5, is a national television platform where all-stage founders pitch to leading business Titans and venture firms. The show bridges entrepreneurship, mentorship, and investment, providing startups visibility and access to experienced investors.

Octobotics Tech Pvt. Ltd., an industrial robotics company, has announced the successful closure of its Series Seed funding round of approximately Rs. 10 crore.

Octobotics Cofounders Mr Ishan Bhatnagar on left and Mr Gulshan Kumar on right

The round was led by Navam Capital, with participation from BYT Capital. The funds will be deployed to accelerate product development, strengthen field validation, and support international expansion.

Founded in 2020 by Ishan Bhatnagar and Gulshan Kumar, Octobotics develops AI-enabled, vertically integrated Non-Destructive Testing (NDT) robotics platforms engineered for harsh environments across industrial and rail applications.

The company currently serves leading organisations including the Indian Navy, IOCL, Saudi S-Chem, BPCL, HPCL, Aarti Industries, and GSFC, and recorded Rs. 2 crore in annual revenue in the last fiscal year.

“This capital will support R&D for vertical integration and the pursuit of IECEx and ATEX certifications, while expanding our operations in India, Singapore, and the Middle East,” said Ishan Bhatnagar and Gulshan Kumar, Co-Founders of Octobotics. “The distribution-led approach allows us to deploy these systems to assist human operators and reduce the need for manual tasks in hazardous environments.”

Commenting on the investment, Dr. Anjan Ray, Investment Partner at Navam Capital, said, “Octobotics is addressing specific maintenance challenges within critical infrastructure. Their focus on a vertically integrated technology stack and a scalable distribution model provides a clear path for serving the global inspection market.”

In asset-intensive industries such as Oil & Gas, Chemicals & Petrochemicals, Marine, Power, Fertilizers, and Rail, competitiveness is increasingly driven by safety, operability, and asset uptime. However, several high-risk inspection zones—including corroded surfaces, elevated structures, confined spaces, and complex geometries—continue to pose challenges for conventional manual inspection methods.

The company addresses complex inspection challenges by automating hazardous tasks and converting field measurements into actionable asset integrity intelligence. By enabling earlier detection of defects, corrosion, and material loss, Octobotics helps operators reduce operational risk and minimise unplanned downtime. Its robotic and sensor-driven workflows capture high-fidelity inspection data, which is analysed using predictive analytics to deliver a unified, decision-ready view of asset health.

The founders first connected at MERI Kolkata and later built careers in complex international operations. Ishan Bhatnagar previously managed maritime operations and automation at Singapore-based BW Maritime, while Gulshan Kumar served as an Operations & Maintenance Engineer at Belgian dredging major D.E.M.E. Inspired by the “Make in India” mission, they returned to India to build data-driven, field-ready inspection solutions for critical infrastructure.

Octobotics’ product portfolio includes PA RailScan, a PAUT-based system for rail track weld inspection that enables consistent defect detection and repeatable inspection quality at scale; Weld Sensei, an automated inspection platform designed for precision data acquisition in hazardous environments where manual inspection is impractical or unsafe; and Reach Master, a specialised NDT tool developed for inspection tasks in hard-to-reach and high-elevation zones.

About Octobotics

Octobotics is an India-based industrial robotics company building AI-enabled NDT platforms for high-risk inspection environments. The company combines field-grade sensing and robotics with predictive analytics to help operators improve safety, reduce downtime, and extend asset life across industrial and rail infrastructure.

EarthSync’s Co-founders Rajat Singh & Mehul Kumar

The investment will support the development of EarthSync’s AI-enabled clean energy modelling and forecasting engine, policy-enabled techno-economic optimizations, and project marketplace. EarthSync’s mission is to accelerate energy transitions through big data systems, providing cloud-first clean energy finance modelling and insights platforms to energy stakeholders including Independent Power Producers (IPPs), Commercial & Industrial (C&I) consumers, advisors, and utilities.

EarthSync is engineering a unified Artificial Intelligence platform that enables C&I enterprises, energy advisors, and Independent Power Producers to plan, procure, and manage renewable energy assets with clarity and precision. The platform combines techno-economic modelling, regulatory data, real-time simulations, and advanced AI to help users evaluate options, optimize returns, improve forecasting, and make confident, data-driven decisions before committing capital.

The EarthSync platform has already run 10 GW of solar and wind and 4 GWh of BESS simulations through pilots with key IPPs and C&I consumers, enabling decision-makers to strategize and bid for over 200 MW of solar and wind and 100 MWh of BESS projects. This fundraise will support EarthSync’s team and product build-out, enable higher project and bid volumes on the marketplace, and accelerate global scaling to power the next wave of clean energy deployments.

“We are delighted to partner with the EarthSync team as they transform how C&I customers and IPPs measure and manage the performance of their renewable energy installations. Through their proprietary AI-powered tech stack, the company is well positioned to deliver an agile, customizable, and accurate engine that disrupts the conventional Excel-based or legacy software models in this sector,” said Priya Shah, Founder & GP, Theia Ventures.

“EarthSync is providing a single, trusted view of policy, pricing, and asset performance, one that every stakeholder around the table can finally rely on. We’re excited to welcome EarthSync into Fund II and partner with a team that understands this problem at a systems level,” said Preeti Sampat, Partner, Eximius Ventures.

 “We are thrilled to welcome Theia and Eximius as our first institutional investors, partnering with us to accelerate and simplify energy transitions for IPPs, C&I consumers, and key industry stakeholders. We are building the digital energy backbone that converts policy, technical, and climate complexity into executable intelligence, working across auto manufacturing, data centres, metal and mining, chemicals, and textiles”, said EarthSync’s Co-founders Rajat Singh & Mehul Kumar.

India’s clean energy market is expanding rapidly as companies seek reliable and cost-effective solutions to meet long-term power needs, driven by rising demand, supportive policy momentum, and strong investment interest. However, adoption remains challenging due to evolving state-level policies, uncertain pricing and grid conditions, stricter compliance requirements, and fragmented data that slow planning, procurement, and operations. As renewable energy becomes a core business priority, the continued growth of the open access market depends on digital decision tools that can accurately interpret policy, model demand, manage risk, and enable financially sound choices.

This is Theia Ventures’ fifth investment from its new fund, which announced its first close, anchored by British International Investment, in October 2025. The fund counts Sarla Aviation, Climitra Carbon, Lemnisca, and Novyte Materials among its earlier investments and has committed to a few additional investments to be deployed within this financial year.

About EarthSync

EarthSync is engineering a unified intelligence platform that enables C&I enterprises, energy advisors, and Independent Power Producers to plan, procure, and manage renewable energy with clarity. The platform integrates regulatory intelligence, real-time simulation, and techno-economic modelling into a single workflow, turning a fragmented process into a clear and consistent system.

About Theia Ventures

Theia Ventures is one of India’s first specialist early-stage funds focused on energy transition, deep tech, and decarbonization. The fund backs founders building technologies that transform industrial systems and accelerate the transition to a low-carbon economy.

About Eximius Ventures
Eximius Ventures is India’s first dedicated pre-seed venture capital fund, backing ambitious founders building globally scalable companies from India. The fund follows a thesis-driven approach across fintech, consumer tech & enterprise AI, and works closely with founders from day zero to help build enduring, category-defining businesses.

Glass Jar Interactive
 

The investment reflects growing investor interest in video game studios as technology enablers within the broader entertainment ecosystem, alongside segments such as VFX, AR/VR, and digital production. With the rapid expansion of OTT platforms reshaping home entertainment consumption, video games are increasingly becoming a central component of the ecosystem, with the potential to extend beyond standalone products into films, series, comics, and merchandise, creating long-term, multi-format IP value.
 

Commenting on the investment, Vinayak Nath, Managing Director, UP Angel Network, said, “With the rapid growth of OTT platforms, home entertainment has seen a structural shift, and video games are becoming a core part of that ecosystem. Games today are not just standalone products; they have the potential to extend into films, series, comics, and merchandise, creating long-term, multi-format IP value.”
 

He added that UPAN has partnered with BSIS (Bharat Startup and Innovation Society), India’s largest startup ecosystem industry association, to support investments and knowledge-building programmes for startups and investors. The investment aligns with BSIS’ USD 100 million pledged fund corpus for startups, of which UP Angel Network is a participating partner.
 

It is also noteworthy to mention that Glass Jar Interactive was recently in the news for securing government-backed grant support and joining the CREATE Incubation Centre at the Indian Institute of Information Technology (IIIT) Lucknow. The startup is recognised under the Startup India initiative by the Department for Promotion of Industry and Internal Trade (DPIIT). The financial terms of the government grant were not disclosed.
 

CREATE (Confederation for Research, Entrepreneurship & Technology Enablement) is the incubation and entrepreneurship centre of IIIT Lucknow and is recognised by the Government of Uttar Pradesh under its StartInUP framework. The centre provides startups with access to structured mentorship, academic and technical resources, and linkages to state and national startup programmes.
 

“Building games from India for a global audience requires patience, creative freedom, and the right institutional support. Being part of CREATE at IIIT Lucknow gives us the space to experiment, learn, and focus on creating original IP without losing sight of global quality and long-term impact. The Rs. 2.3 crore seed funding from UP Angel Network further strengthens our ability to scale our vision and invest in long-term IP creation. Ghatika is Glass Jar Interactive’s debut original IP, a narrative-driven action-adventure game currently in production. Set in a fantasy world, the game follows the downfall of an empire, with players leading a group of survivors and uncovering the secrets of their people,” said Raunaq Kavalu, Co-founder and Director, Glass Jar Interactive.
 

IIIT Lucknow is a government-backed technical institution, and through CREATE it supports incubated startups via incubation programmes, workshops, seminars, and industry interactions aimed at accelerating early-stage innovation and entrepreneurship.
 

Glass Jar Interactive operates as a video game and entertainment studio focused on original IP-driven game development for PC and console platforms, with an emphasis on interactive storytelling and gameplay-centric experiences. The studio aims to create globally competitive yet culturally grounded interactive experiences from India.
 

The development comes amid a broader push by the Government of India to strengthen the domestic gaming and media ecosystem. India’s media and entertainment sector is projected to cross $100 billion by 2030, with gaming expected to be a key growth driver.

Astrikos AI has secured a strategic investment from Gorilla Technology Group
 

Market Growth and Opportunity

The smart infrastructure, IoT, and AI-driven urban management markets are undergoing exponential growth. According to a recent report by MarketsandMarkets™ (M&M), the global smart cities market size is projected to rise from approximately USD 699.7 billion in 2025 to USD 1,445.6 billion by 2030, at a 15.6% CAGR.
 

Furthermore, India’s AI-optimized data center market specifically is forecast to grow from $1.19 billion in 2025 to more than $3.10 billion by 2030, with a sustained growth rate above 20%. The broader data center industry is expected to reach $21.8 billion by 2030, driven by AI adoption and data localization. It is expected that global connected IoT devices will hit approximately 39 billion by 2030, driving a tidal wave of data generation and demand for real-time analytics.
 

Strategic Alignment

Against this backdrop, Astrikos AI - a recognized NASSCOM Emerge 50 award winner - is strategically positioned to capitalize on this rapid expansion. With its flagship Smart Interop Analytical Platform, Astrikos is currently engaging in high-value deployments across Smart Buildings, Security, Data Centers, and Smart City Infrastructure.
 

"Astrikos AI gives us a springboard into the United Arab Emirates, the USA, and India - all leading technology markets," said Jay Chandan, Chairman and CEO of Gorilla Technology Group. "By joining forces with Astrikos.ai, we combine their deep Indian presence and infrastructure intelligence engine with our proven delivery across the Middle East and Asia. We can deliver AI-ready national infrastructure at scale and move decisively into markets that are expanding at historic speed."
 

Leadership Commentary

Dr. Chinmay Hegde, CEO & Managing Director of Astrikos AI, stated, "This investment from Gorilla Technology Group marks a pivotal moment in Astrikos AI’s journey. It validates our vision of transforming Data Centers, Smart Cities, and Public Infrastructure through Real-time Operational Intelligence. With Gorilla’s expertise in edge computing, intelligent video surveillance, and advanced cybersecurity, we can enhance our real-time intelligence offerings across edge devices to national command centers."

Nani Iswara, Head of Operations, North America for Astrikos AI, added, "In North America, operators of Data Centers, Airports, Ports, and Large Campuses face the challenge of running more AI, GPUs, and Automation on aging or fragmented infrastructure. By drawing on Gorilla’s expertise in video analytics and cybersecurity alongside Astrikos AI’s infrastructure intelligence platform, customers can pursue more resilient operational intelligence."

About Astrikos AI

Headquartered in Bengaluru, India, Astrikos is a fast-growing infrastructure intelligence company that specializes in real-time monitoring, prediction, and optimization for critical national systems. Astrikos delivers advanced AI-driven solutions across large-scale public infrastructure, smart cities, Industry 4.0/5.0, government estates, data centers, and transport sectors.

For more information, please visit www.astrikos.ai.
 

About Gorilla Technology Group Inc.

Headquartered in London, U.K., Gorilla is a global solution provider in Data Centres, Security Intelligence, Network Intelligence, Business Intelligence and IoT technology. Gorilla provides a wide range of solutions, including Smart City, Network, Video, Security Convergence and IoT, across select verticals of Government & Public Services, Manufacturing, Telecom, Retail, Transportation & Logistics, Healthcare and Education, by using AI and Deep Learning Technologies.

For more information, please visit Gorilla-Technology.com.
 

Forward-Looking Statements

This press release contains 'forward-looking statements' within the meaning of the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995. Actual results for Astrikos or Gorilla may differ from expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. These statements include, without limitation, projections regarding the market size, CAGR, and capacity growth of the data centre and AI sectors in India and globally.
 

These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results, including but not limited to: the possibility that the projected market growth described in third-party reports may not materialize; risks related to the integration of Astrikos.ai's technology; and other risks described under the heading 'Risk Factors' in the Form 20-F Gorilla filed with the Securities and Exchange Commission (the 'SEC') on April 30, 2025. Market data used in this release relies on third-party analyst reports which are subject to change and have not been independently verified by Astrikos (with respect to Astrikos-specific data) or by Gorilla (with respect to data referenced from Gorilla's disclosures). Astrikos undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation; Gorilla's obligations are as stated in its public filings.

L to R: Onkar Bagaria, Mandar Shrikant Joshi, Shweta Choudhary, Anish Maheshwari, Digvijay Singh

Onkar Bagaria: Capital Discipline Meets Capability Building

Strategic Partner for Innovher, Onkar Bagaria brings a distinctive perspective shaped by investment banking, institutional leadership, and generational business wisdom. His grounding in structured finance and capital markets, coupled with his role as CEO at VGU, one of Rajasthan’s leading private university, allows him to bridge the often disconnected worlds of financial discipline and capability creation.

Within InnovHer, he plays a critical role in strengthening investor readiness frameworks, capital structuring confidence, governance orientation, and sustainable long-term planning. His family business legacy adds an important generational lens, focusing not only on growth but on reputation, credibility, and risk stewardship. For Tier 2 ventures aspiring to command serious institutional trust, his involvement ensures that capital aspiration is matched with financial prudence.

Mandar Shrikant Joshi: Aligning Tier 2 Ambitions With Global Standards

As Strategic Partner at Innovher for Global Venture Building and Ecosystem Design, Mandar Shrikant Joshi introduces a powerful international calibration layer to InnovHer’s mission. His experience spans venture building, startup ecosystems, investor readiness, and strategic alignment across multiple geographies and market cycles. He understands how founders evolve, how ecosystems mature, and what separates globally competitive ventures from locally confined aspirations.

At InnovHer, he focuses on aligning venture-building frameworks with international benchmarks, strengthening cross-border linkages, and preparing founders for global markets and capital expectations. His inputs are particularly impactful for sectors such as D2C, luxury, and lifestyle where aspiration must be backed with robust execution structures. Through his lens, InnovHer reinforces a central belief: Tier 2 origin is not a limitation. With the right discipline, founders from emerging ecosystems can build ventures that confidently operate on a global stage.

Anish Maheshwari: Governance Strength and Capital Stewardship

In a startup climate often driven by speed over structure, Anish Maheshwari, Director at VSure Investments, Mumbai, brings the stabilizing force of governance maturity and capital stewardship to InnovHer. As Strategic Partner at InnovHer for Corporate Governance and Capital Stewardship, he anchors the leadership bench with boardroom-grade seriousness.

He contributes deeply to corporate governance frameworks, investment structuring sanity, compliance sophistication, and investor confidence building. He ensures that ambition is supported by institutional safeguards, enabling founders to grow without exposing themselves to avoidable risks. At a time when credible investors increasingly demand transparency, discipline, and ethical capital management, his presence serves as a crucial assurance mechanism. For InnovHer, this balance between growth velocity and governance integrity is not optional. It is foundational.

Digvijay Singh: Architecting Digital Presence and Platform Trust

If InnovHer represents vision and institutional maturity, it also stands for lived mentorship and human evolution. Digvijay Singh, Director at InnovHer, represents that journey. Once mentored by InnovHer’s founder, he has grown into a core execution pillar and narrative custodian of the platform.

With a deep understanding of digital media, content ecosystems, and platform storytelling, he strengthens how InnovHer and its portfolio communicate credibility, trust, and relevance in today’s attention-driven digital economy. His work spans brand architecture, digital strategy, founder communication frameworks, narrative discipline, and media design. Beyond strategy, his journey from being a learner to becoming a leader reflects InnovHer’s belief in compounding human capital, not just financial capital.

A Convergence of Experience with One Aligned Mission

What truly distinguishes InnovHer’s leadership is not individual brilliance, but strategic complementarity. Capital markets expertise, governance strength, global venture wisdom, digital strategy, and institutional vision converge into one coherent operating philosophy: build ventures that are execution ready, capital credible, and institutionally governed from day one. With leaders like Onkar Bagaria, Mandar Shrikant Joshi, Anish Maheshwari, and Digvijay Singh rallying behind Dr. Shweta Choudhary’s vision, InnovHer’s momentum has moved beyond being founder driven. It is now institution anchored.

From Jaipur, InnovHer is quietly rewriting what Tier 2 entrepreneurship can represent in India. Not through noise. Not through rushed scaling. But by earning trust, building discipline, and nurturing a culture of seriousness around entrepreneurship. When experience aligns with purpose and integrity, institutions are not built overnight. They are built to endure. InnovHer stands as a testament to that belief.

The Series B funding marks a significant milestone for CoreEL, validating its R&D-driven business model focused on developing some of the country’s most innovative electronics products for fast-growing market segments. This funding will further accelerate the company’s growth journey, both in terms of revenue expansion and an enhanced commitment to R&D to ensure long-term, sustainable growth. The capital will be deployed across multiple initiatives, including scaling manufacturing capacity, strengthening research and development, advancing product engineering and supporting participation in large and complex aerospace and defence programmes in India and overseas.

Headquartered in Bengaluru, CoreEL designs, develops and manufactures advanced electronic system and sub-system-level products for strategic applications in the Radar, Electronic Warfare, Avionics Milcom sectors and the company has delivered several critical high end electronic system level products and solutions to both strategic and commercial set of customers. CoreEL customers include DRDO, Defence Public Sector companies and MOD.

The funding follows CoreEL’s recent acquisition of the Aerospace and Defence Systems division of Lekha Wireless, which significantly expanded its communication systems portfolio. The acquisition added proven wireless communication technologies, indigenous intellectual property and specialised engineering talent, further strengthening CoreEL’s capabilities in the MILCOM domain. These additions complement CoreEL’s existing strengths in communication systems, airborne electronics, secure data links and SATCOM-enabled solutions.

Commenting on the funding, Vishwanath Padur, Managing Director, CoreEL Technologies, said, “CoreEL has established itself as a world-class electronic systems and product development company, delivering complex, mission-critical solutions to our Armed Forces through DRDO and defence PSUs. We continue to develop some of the most advanced electronic systems for strategic aerospace and defence programs. This Series B funding reflects strong investor confidence in our long-term strategy, engineering depth and execution capability.”

Pushkar Jauhari, Managing Director and Head of Private Equity at Value Quest, said, “CoreEL’s strong positioning across aerospace and defence domain with its proven technological capabilities and its focus on indigenous development, aligns well with objective of investing into innovation driven strong technology companies strengthening India’s aerospace and defence sector with long term investment support and collaboration. Our investment in CoreEL Technologies reflects our strong conviction in CoreEL’s proven execution capability, engineering & leadership depth and its ability to scale up and contribute meaningfully to indigenization initiatives.”

Umesh Agrawal, Fund Manager, 360 ONE Asset and Nominee Director on Board of CoreEL, said, “CoreEL has built strong capabilities in electronic systems development for aerospace and defence, supported by a clear strategic vision and an experienced management team. We were the first institutional investor to back the team’s vision, and this investment reflects our conviction in the platform they are building. We are pleased to deepen our partnership with CoreEL as it scales its operations and enters the next phase of growth.”

Steer Advisors acted as the sole transaction advisor for the fundraise. Steer has been working in the Aerospace and Defence sector for over a decade now and has built a reputation as an enabling investment banker for companies seeking critical investment and collaboration. Rajesh Doshi, Managing Director of Steer said, “We are pleased to have enabled this investment into CoreEL, complementing our earlier efforts on Series A.  The emphasis CoreEL lays on innovation, processes, marketing and customer relationships has created a reputation for CoreEL as a dependable partner for its customers.” 

About ValueQuest

Founded in 2010, ValueQuest Investment Advisors Pvt. Ltd. (“ValueQuest”) is a Mumbai-based investment management firm known for its disciplined, research-driven approach to public and private markets. Over the past 15 years, ValueQuest has built a reputation for deep fundamental research, long-term value creation, and an unwavering commitment to its #InvestorsFirst philosophy. With a focus on identifying quality businesses and partnering in their growth journeys, ValueQuest continues to be one of India’s most respected and trusted investment managers. The firm manages AUM of ~USD 3bn. Their private equity funds are housed under the entity “Quest4Value Investment Managers LLP” with AUM in excess of USD 400m.

About 360 ONE Asset Management Limited

360 ONE Asset manages an overall listed market and alternates AUM of more than $10 billion* across multiple asset classes. It is one of India's largest alternative asset managers, with private market AUM of $5 billion. 360 ONE Asset's premier venture capital and private equity platform has an AUM of ~ $3.3 billion, 89 portfolio companies and a seasoned investment team in Mumbai and Bangalore. The platform spans the entire company life cycle, from Idea to IPO, offering investment solutions across Venture Capital, Growth Equity, Late-Stage PE and pre-IPO, Secondaries and Fund-of-Funds. It has a 10-year track record of successfully partnering with founders and of innovation, consistently bringing new offerings to the Indian market.

More information is available at: www.360.one/asset

*As on 30th Sept 2025. Funds managed by 360 ONE Asset Management Ltd. and 360 ONE Alternates Asset Management Ltd.

About CoreEL Technologies (India) Private Limited

Technologies is a Systems Engineering and Technology Solutions company founded in 1999. The Company designs, manufactures and supplies advanced electronic products and complex electronic systems to Indian Aerospace & Defence Industry, including the Ministry of Defence. Its products have been deployed in India’s next-generation avionics, radars, missiles, electronic warfare, MILCOM and SONARS, amongst others. CoreEL has received recognition from the Ministry of Defence (MOD), Defence Research and Development Organization (DRDO) and multiple Industry Associations for its innovative products and processes.

For more information visit: www.coreel.com.

This investment marks A.P. Moller Capital Funds’ first investment in India, highlighting the country’s growing importance as a global hub for renewable energy capital and confidence in its long-term economic fundamentals.

A.P. Moller Capital, drawing on over 120 years of A.P. Moller Group’s industrial heritage and a culture of hands-on value creation, has a strong track record of investing in and scaling renewable energy businesses across Southeast Asia and Africa, including solar, wind and hybrid-power businesses, grid solutions and energy-efficiency assets. Across its funds, A.P. Moller Capital has supported the development of more than 2 GW of renewable and transition-related capacity to date. The broader A.P. Moller Group has been active in India for more than 30 years through its logistics and services businesses, providing a strong foundation of commercial, operational and stakeholder relationships in the country.

Ketan Mehta, MD & CEO, Rays Power Infra

Ketan Mehta, MD & CEO, Rays Power Infra, commented: This partnership with A.P. Moller Capital marks a milestone for Rays Power Infra and reinforces our long-term vision of creating renewable energy infrastructure at scale. Their investment not only validates the strength of our development platform but also accelerates our ability to deliver sustainable, utility-scale solar assets across India

Semih Gökmen, Partner at A.P. Moller Capital, said: “This partnership allows us to deploy long-term capital into a high-quality pipeline in one of the world’s fastest-growing renewable markets. Our operational mindset positions us well to deliver utility-scale renewable capacity responsibly and efficiently. We are pleased to work with Rays Power Infra, whose development strengths complement our investment approach.”

Kim Fejfer, Managing Partner and CEO, A.P. Moller Capital, added: “We are delighted to take this first meaningful step into India’s renewable energy market. India’s energy transition presents one of the most compelling long-term infrastructure opportunities globally, and we see strong policy support and market fundamentals driving unprecedented growth. Building on the A.P. Moller Group’s decades of engagement in India and A.P. Moller Capital’s experience in developing and scaling critical infrastructure businesses, we are well positioned to execute at scale in support of India’s rapidly maturing renewable energy market.”

About Rays Power Infra Limited

Rays Power Infra is engaged in the business of providing utility scale end-to-end renewable energy solutions with a focus on solar energy solutions. We specialize in the development of ‘ready-to-build’ infrastructure for renewable power projects under our Co-Development Business model and providing engineering, construction and procurement (“EPC”) services for renewable power projects. We are among the leading players in the Indian solar industry with a demonstrated track record, along with being one of the pioneers of the Co-Development Business model in India.

The company currently has a diversified renewable energy portfolio of approximately 11,665 MWp, comprising solar, wind, and hybrid projects designed to cater to round-the-clock renewable energy demand. As of July 31, 2025, Rays Power Infra has commissioned ~1,771 MWp of projects across 13 Indian states and two international locations. Additionally, 4029 MWp is  Contracted, 3,565 MWp is under development & 2300 MWp is in advance stages.

Under the Co-Development model, Rays Power Infra manages the complete lifecycle of project development, including land aggregation, STU and ISTS grid connectivity, and all key regulatory and commercial approvals, with projects packaged within Special Purpose Vehicles (SPVs) and subsequently transferred to customers. rayspowerinfra.com.

About A.P. Moller Capital

A.P. Moller Capital is a global institutional fund manager focused on scaling critical infrastructure needs, particularly in Transport, Logistics and Energy Transition. A.P. Moller Capital invests in and develops businesses that support sustainable economic growth and prosperity in its markets of operations, while striving to deliver consistent and attractive investment returns to our investors. A.P. Moller Capital, part of A.P. Moller Group, is authorised by the Danish Financial Supervisory Authority. www.apmollercapital.com

Ajaz Khan, Founder and CEO, Novyte Materials

The process of discovering new materials remains one of the slowest and most resource intensive parts of innovation. Traditional development takes years, often decades, driven by extensive trial and error, fragmented experimentation, isolated lab data, and disconnected handoffs between computational prediction and real world validation. This slows progress across sectors that urgently need next generation materials for better performance, reliability, and sustainability.

Novyte is addressing this challenge with AI driven materials discovery that cuts R&D time by up to 10x and can reduce early stage physical testing costs by as much as 90%. Its generative AI system designs, validates, and reverse engineers novel materials using physics based simulations, supporting applications across composite materials, aerospace, advanced manufacturing and specialty chemicals.

As industries push toward cleaner energy, advanced manufacturing, and high performance systems, materials science has become the quiet force behind many breakthrough technologies. From advanced batteries and hypersonic flight to nuclear fusion and low loss transformers, the pace of progress is shaped by how quickly and accurately new stable materials can be designed and validated.

“As AI becomes foundational infrastructure for every industry, Novyte is bringing that transformation to materials discovery. Their system replaces years of lab work with intelligent AI-led design and real-time validation. We believe this will accelerate innovation across energy, aerospace, and advanced manufacturing,” - Priya Shah, Founder & GP - Theia Ventures.

“Innovation is currently capped by the physical limits of yesterday's materials. Novyte removes that ceiling. By decoding complex chemical interactions with AI, we are turning the search for new materials into a predictable, scalable engineering process,” - Ajaz Khan, Founder & CEO - Novyte Materials.

Novyte is redefining materials engineering by fusing the precision of wet lab experimentation with the predictive power of dry lab modeling.

By working directly alongside R&D teams, decoding complex material interactions to engineer custom solutions, eliminates the guesswork of traditional discovery. The vertically integrated approach bridges the gap between testing and commercialization, replacing costly trial-and-error with predictable, validated pathways. The result is a continuously learning system purpose-built for applied industrial chemistry, creating a scalable foundation for reliable material discovery.

Novyte is incubated at ICT-NICE, the innovation and entrepreneurship hub of the Institute of Chemical Technology, Mumbai, and works closely with ICT’s research ecosystem while building its own dedicated R&D infrastructure, and synthesis lab.

Novyte will initially partner with specialty chemicals industries, polymers, paints, adhesives, and coatings that are advancing in their journey to identify alternative materials with improved features and performance. The company aims to reduce operational and R&D costs, shorten development timelines, and accelerate material discovery while ensuring that validation and scale are more predictable. The goal is to make the journey from lab to commercialisation seamless and achievable. The company is currently inviting collaborations and strategic partnerships.

This is Theia Ventures’ fourth investment from its new fund, which announced its first close anchored by British International Investment in October 2025. The fund counts Sarla Aviation (an electric aircraft company), Climitra Carbon (a biochar company catering to the steel industry) and Lemnisca (a bio-manufacturing company) as its first three investments, and the fund has committed to a few additional investments to be deployed within this financial year.

Pushkar Pendse, Co-founder & CEO, Lemnisca and Shilpa Nargund, Co-founder & CTO, Lemnisca

Lemnisca is building an AI companion for fermentation that helps manufacturers scale bioprocesses faster, more predictably, and with greater efficiency. As industries shift to renewable feedstocks and biological alternatives to petrochemicals, scalable biomanufacturing has become essential. While AI has accelerated molecule discovery, the critical challenge now is taking these innovations from lab to industrial scale reliably and at speed. Lemnisca’s science-aware AI works alongside scientists and operators, coupling wet-lab experimentation with dry-lab modelling to understand process biology and steer production in real time. The result is a continuously learning system that makes biomanufacturing more efficient, predictable, and fundamentally more reliable.

Lemnisca will initially partner with fermentation-led manufacturers already advancing along their biomanufacturing journey, while also building its own internal product pipeline. The company aims to reduce development timelines by up to 50%, improve operating efficiency by 25%, and accelerate adoption of renewable and waste-carbon feedstocks, ensuring rapid validation and scalable impact. The company is currently inviting pilot collaborations and strategic partnerships across CDMOs, OEMs/SIs, and global ingredient brands.

“We are delighted to be early partners in Lemnisca’s journey, where we firmly believe that biomanufacturing in today's era needs advanced digital simulators that predict how microbial processes will perform before reaching large industrial scale,” said Priya Shah, Partner at Theia Ventures. “The team brings rich practical experience to support the symbiotic development of this product to be applied to nutraceutical markets.”

“From day one, our question was simple: how do we make biomanufacturing the default manufacturing mode globally?” said Pushkar Pendse, Co-founder & CEO, Lemnisca. “Our focus is to build the digital operating system that brings biology from lab to factory, making scale-up faster, smarter, and globally accessible.”

“We are rethinking everything, right from lab workflows to model architectures,” added Shilpa Nargund, Co-founder & CTO, Lemnisca. “The goal is fewer surprises at scale and faster, repeatable success.”

This is Theia Ventures' third investment from its new fund, which announced its first close anchored by British International Investment last month. The fund counts Sarla Aviation (an electric aircraft company) and Climitra Carbon (a biochar company catering to the steel industry) as its first two investments, and the fund has committed to three additional investments to be deployed within this financial year.

About Lemnisca
Lemnisca is building the AI companion for fermentation, enabling manufacturers to optimize, scale, and operate bioprocesses with confidence. Its science-aware AI models make biomanufacturing faster, more predictable, and more sustainable. Headquartered in Bengaluru, Lemnisca works with partners across industrial biotech and specialty ingredients globally.

About Theia Ventures
Theia Ventures is one of India’s first specialist early-stage funds focused on energy transition, deep tech, and decarbonization. The fund backs founders building technologies that transform industrial systems and accelerate the transition to a low-carbon economy.

For media inquiries:
Theia Ventures – info@theia-ventures.com
Lemnisca – pushkar@lemnisca.bio
Website - www.lemnisca.bio

50cr raised by Marwari Catalysts portfolio startups 

MCats Accelerator and Venture Studio continue to drive investor confidence in founders across healthcare, sustainability, AI, and consumer brands — a positive signal for India’s evolving startup landscape.

Funding Across High-Impact Sectors

The raise spans a diverse set of emerging industries, each addressing pressing challenges and opportunities in India’s heartland:

• Affordable Fertility Care (Elara IVF) – designed for aspirational Tier II markets.

• Fintech-Enabled B2B E-Commerce Platform for Building Materials (Mad Over Building).

• Insurtech (Inka) – redefining insurance access for India’s underserved communities through digital innovation and simplicity.

• Healthtech (Sarathi Healthcare) – elderly care platform enhancing dignified, last-mile access to healthcare and assisted living.

• Consumer Brands (TURMS) – intelligent wear engineered with advanced fabric technology, designed for comfort, performance, and the Indian lifestyle.

• Mobility & Logistics (DOCO) – overcoming non-metro transport and supply-chain gaps.

More details will be announced soon. Investors include angel investors, family offices, impact funds, and corporate innovation teams — signalling broad cross-sector confidence in the MCats approach. This is also a strong validation that family offices and HNIs are increasingly interested in the venture studio model.

Founder’s Perspective

“This is not just capital—it’s validation,” said Sushil Sharma, Founder of Marwari Catalysts Group. “These startups are solving real problems, building for real India, and showing that innovation isn’t confined to geography.”

A Larger Shift in the Ecosystem

This consolidated raise reflects a wider shift in investor mindset—from chasing valuations in metros to backing sustainable, scalable ventures emerging from India’s smaller cities. For MCats, it reaffirms its mission to bridge the gap between opportunity and origin, ensuring talented founders are discovered, funded, and scaled.

About Marwari Catalysts

Marwari Catalysts Group (MCats) is one of India’s fastest-growing startup ecosystem player (Accelerator and Venture Studio), with mentors with skin in the game supporting 100+ early-stage ventures across 20+ cities backed by SEBI-approved CAT-I AIF. MCats provide capital, mentorship, and global market access to founders. Its portfolio has already created 5,000+ jobs while driving inclusion through 35% women-led startups and successfully done 11+ exits. We are headquartered in Jodhpur with regional offices in Mumbai, Bengaluru and Jaipur.

Welcome to MCats Family!

The company recently rebranded from Try ND Buy to PointAI to reflect its core technological foundation, a proprietary parallel AI architecture developed entirely in-house by its team of scientists and backed by 70+ global patents. The recent funding will enable PointAI to accelerate product innovation, expand its market presence, and strengthen its technological capabilities.
 

Nitin Vats, Founder and CEO, PointAI
 

PointAI’s technology delivers a 100% real-store shopping experience for online customers, allowing users to virtually try on products, mix and match, and even interact with a virtual salesperson in real time. Unlike conventional generative AI models, PointAI’s platform can generate high-precision media outputs, including images, videos, and 3D assets, with B2B-grade accuracy, using significantly lower GPU resources and shorter processing times. Each media file can be rendered within 1–2 seconds, compared to several minutes required by traditional models, at a cost up to 90% lower than popular GenAI-based alternatives.
 

The company’s client portfolio includes industry leaders such as Amazon SPN, Flipkart, Myntra, and most recently, it has gone live at Rakuten (Japan).
 

“Our transformation from Try ND Buy to PointAI marks a new chapter in our journey to redefine how people experience products and services online. At PointAI, we are building next-generation, simulation-based AI models that deliver accuracy and speed enabling instant, hyper-realistic experiences that bridge the gap between physical and digital retail. Yali Capital’s investment reinforces our vision and fuels our mission to push the frontiers of AI and computer vision for the global e-commerce industry,” said Nitin Vats, Founder and CEO, PointAI.
 

Ganapathy Subramaniam, Founder and Managing Partner of Yali Capital, added, “We are excited to partner with PointAI, a company that exemplifies solid scientific rigor and a strong deep-tech foundation. With innovative solutions and a growing client base, they are well-positioned for significant growth, and we look forward to supporting their journey.”
 

“India’s deep-tech ecosystem is advancing steadily, and PointAI’s work in AI and computer vision represents a promising contribution backed by strong intellectual property. I’m excited to join the investors supporting PointAI alongside Yali Capital,” said Lip-Bu Tan, Chairman Walden International.
 

PointAI’s investors include Vijay Shekhar Sharma (Founder & CEO, PayTM) and Vinod Sood (Co-Founder, Hughes Systique). The company is headquartered in Noida with overall ~10 million funding.
 

About PointAI
PointAI (Prev Try ND Buy), is a leading technology company revolutionizing the online shopping experience through its cutting-edge virtual try-on solutions. The PointAI platform allows e-commerce companies, brands, and small sellers to create catalog images and videos, offer fitting and recommendation solutions, and build 3D, AI-based agentic shopping and virtual sales assistants, all in an automated manner. Brands and e-commerce companies can onboard the PointAI platform to access its complete suite of products.
 

About Yali Capital
Yali Capital is a Bengaluru-based venture capital firm focused on early-stage deep-tech startups across sectors such as AI, semiconductors, robotics, aerospace, genomics and smart manufacturing. Launched in 2024, the firm aims to identify and nurture ideas poised to lead the next wave of global innovation, with a particular emphasis on India’s deep-tech ecosystem. With a combined experience of over 60 years in the deep-tech domain, the Yali Capital team brings deep expertise and strategic guidance to its portfolio companies.

JECRC MeitY Partnership: When Government and Academia Join Hands to Shape a New Era of Entrepreneurship

Under this landmark partnership, 12 of Rajasthan’s most promising startups will collectively receive funding support worth Rs. 1.8 crore.

The initiative is specially designed to strengthen the startup landscape of Rajasthan, with a focus on fostering innovation and entrepreneurship in Tier-2 and Tier-3 cities.

For the first time, prestigious national programs such as GENESIS and TIDE are being launched within a state-level technical university creating a “Shark Tank” like platform for emerging entrepreneurs to pitch and grow their ventures.

Startups will receive funding based on their stage of development from idea validation to prototyping and achieving market fit. A multi-level funding mechanism has been introduced to accelerate growth across these stages.

Under TIDE 2.0, four startups will receive grants of Rs. 7 lakh each. Additionally, under the GENESIS program, startups will be supported according to their maturity level up to Rs. 10 lakh for Early Idea (EIR), up to Rs. 40 lakh for MVP/Pilot Stage and up to Rs. 50 lakh for Investment/Scale-Up Stage.

The opportunity is exclusively open to Rajasthan-based startups including both individual innovators and DPIIT-registered startups with at least 51% Indian ownership.

The JECRC Incubation Centre not only extends financial assistance but also aims to create a transformative impact on the entrepreneurial landscape of smaller cities empowering startups from Rajasthan to compete on a global stage.

Over the past five years, JIC has supported more than 80 startups with cumulative funding exceeding Rs. 8 crore, along with providing state of the art facilities such as co-working space, investor connect, pilot connect and industry partnerships.

Sattva Consulting launches its Annual State of CSR report, highlighting India’s shifting corporate giving landscape

Tier-1 city districts still absorb nearly 30% of total CSR funding, with neighbouring clusters accounting for another 3%. Yet, the once-dominant grip of metros is loosening. Cities with populations between one and two million have nearly doubled their CSR share (from 13.5% to 16.2% between FY 2022 and FY 2024), while industrial districts now attract 7.4% of total CSR allocations, up from 4.4% two years ago. The pace of growth in these regions has outstripped the overall 30% rise in CSR spending nationally, according to the report.

“Corporate India is clearly looking beyond traditional centres of philanthropy,” said Srikrishna Sridhar Murthy, CEO & Co-founder, Sattva Consulting. “From Vadodara to Madurai, we’re seeing companies anchor their giving where they operate - industrial clusters, manufacturing corridors, and smaller cities. This shift is deeply encouraging for the vision of Viksit Bharat, a future where development capital flows to every district, not just a few. It’s an important step towards localising impact.”

The report notes that while CSR funding has become more geographically diverse, equity in distribution remains limited. Over the past three years, 193 districts have absorbed three-quarters of all district-level CSR funding, and nearly 90% of this money flows into areas with low poverty levels. Only three of India’s 54 high-poverty districts feature among the top CSR recipients.

Funding in Aspirational Districts has risen threefold over the past decade, from 1.3% of total CSR inflows in FY 2015 to 4.5% in FY 2024, driven by a steady rise in private-sector participation. Larger corporates, particularly in BFSI, energy, and mining, are beginning to channel a growing share of their CSR outlay, around 5%, towards these underdeveloped regions. Public-sector companies continue to play a pivotal role, directing 11% of their CSR budgets to Aspirational Districts, nearly three times the private-sector average.

“The geography of philanthropy is shifting, and the opportunity ahead demonstrates deepening, not just diversifying of India’s CSR footprint,” added Krishna.

The annual State of CSR report is the most comprehensive analysis of CSR spending in India. It draws from MCA’s annual report of 21,489 companies and includes analysis of their individual annual reports. Among other insights from the report, the study finds that global firms ‘punch above their weight’, delivering higher impact through focus and scalability, while India’s large corporations and PSUs drive breadth and depth through significant local investments. It also notes that non-NGO partners are on the rise, with nearly one-fifth of all CSR funding in FY 2024 channelled through institutions such as universities, hospitals, and incubators, and over 60% of large corporates now implementing flagship programmes through their own foundations.

About Sattva Consulting

Sattva Consulting is a global impact consulting firm from India. Since 2009 we have been engaging with communities, business and government to achieve societal impact at scale.

We believe that Civil society, Business and Government all have a critical role to play in building an equitable and sustainable world, and we actively partner with all stakeholders to enable impact through our advisory & orchestration services, knowledge and data platforms which we have built as public goods for the ecosystem and collaborative solutions and partnerships.

To know more, visit www.sattva.co.in.

Shilpa Kumar (MD, BII India) and Priya Shah (Founder, Theia Ventures)

With a focused investment thesis, Theia Ventures Fund I aims to back 18–20 early-stage startups developing differentiated technologies to decarbonize critical sectors such as heavy industry, manufacturing, material science, mobility, and supply chains. The firm typically invests between $500,000 and $1 million, with over 50% of the corpus reserved for follow-on investments. The team brings a strong track record in energy transition investments, with prior proprietary investments in companies such as Exponent Energy, AltM Bio, Octolife, and Metastable Materials.

Through Fund I, Theia Ventures invested in Sarla Aviation, an Accel-backed electric air taxi company, and recently led a pre-seed round in Climitra Carbon, a biocoal company catering to the steel industry, run by a Stanford GSB, IIT-Bom & IIT-Dhanbad team. The fund has also signed on two additional companies in precision fermentation (biotech) and AI-based energy data modelling, with further investments expected to be announced in early 2026. The final close of the fund is expected by the end of the current financial year.

Priya Shah, Founder & Managing Partner of Theia Ventures, said, "We are thrilled to officially announce Theia’s first close and to partner with BII as our anchor investor, as well as other incredible stakeholders. Theia’s objective remains clear: to unlock much-needed, early stage capital towards Indian companies building transformative technologies to disrupt the energy status quo. Petroleum or coal-based products and processes are now being rapidly replaced by cleaner fuels and energy sources, which presents a huge opportunity for startup innovation and growth, particularly in emerging sectors such as carbon removal, novel materials, data centres, clean mobility, renewable energy and biotech. It’s fantastic to see international capital flowing into India to support talented founders building bold solutions that will shape the future." 

Shilpa Kumar, Managing Director and Head of Asia at BII, said: "Through our partnership with Theia, we are delighted to support early-stage companies developing unique climate technologies that can protect the planet and vulnerable groups in India. The climate emergency affects every aspect of life. Our investment will help accelerate technology development to reduce emissions and enhance climate resilience among low-income groups. This is aligned with our goal of contributing to India’s clean energy transition."

India’s forward-looking energy strategy continues to power economic growth, particularly in areas such as renewables.  India has become the world’s 3rd-largest solar energy producer, with renewables now powering over 50% of the country’s total installed electricity generation capacity of 484.82 GW.

About Theia Ventures

Theia Ventures is an early stage, thematic venture capital fund based in India, which invests in technology companies that are disrupting the energy status quo. It aims to support founders as a first cheque, and help them scale up throughout their operating journey.

About British International Investment

British International Investment is the UK’s development finance institution and impact investor. The organisation invests in businesses in developing countries to improve people’s lives and help protect the planet. BII’s work targets the underlying causes of poverty and the climate crisis, helping countries break free from aid dependency for good. Between 2022-2026, at least 30 per cent of BII’s total new commitments by value will be in climate finance. BII is also a founding member of the 2X Challenge which has raised over $33.6 billion to empower women’s economic development. The company has investments in over 1,600 businesses across 66 countries and total net assets of £9.87 billion. For more information, visit: www.bii.co.uk | watch here. Follow British International Investment on LinkedIn, Bluesky and X.

IVCA Secondaries Conference 2025 to Spotlight Liquidity, Continuity, and Growth in India’s Private Markets

The conference comes at a time when AIF commitments have reached approx Rs. 13.5 lakh crore as of March 2025, and a growing number of funds are approaching mid-to-late-stage of their fundcycle. As per UBS, globally, the secondary market reached $156 billion in transaction volume in 2024, a 35% increase over 2023 and 14% higher than the previous record of $136 billion in 2021. GP-led transactions totalled $70 billion—a 31% YoY increase—dominated by continuation funds, which accounted for over 85% of GP-led volumes.

Rajat Tandon, President, IVCA, said, “India’s alternate capital industry is entering a new phase of maturity, and the secondary market is at an inflection point. We expect it to play a transformational role by unlocking liquidity, optimising capital, and providing continuity through secondary transactions, whether LP-led or GP-led (including continuation funds). India has an opportunity to become one of the fastest-growing secondary markets in Asia, strengthening investor confidence and accelerating how our ecosystem evolves.”

Bringing a unique blend of domestic and international perspectives, the IVCA Secondaries Conference featured a line-up of leading voices from the investment space, such as Ashish Fafadia (Blume Ventures), Cheng Chee Mun (57 Stars), Divya Thakur (Morgan, Lewis & Bockius), Dominic Goh (HarbourVest), Jason Sambanju (Foundation Private Equity), Koon Kiat Poh (Axiom Asia), Kunal Shah (PW & Co LLP), Mamtesh Sugla (TPG NewQuest), Norbert Fernandes (Kenro Capital), Peter Lui (LGT Capital Partners), Rohit Agarwal (Aksia), Rohit Bhayana (Oister Global), Satish Mugulavalli (Hissa Fund), Shivani Bhasin Sachdeva (India Alternatives), Sunil Goyal (YourNest Venture Capital), Surya Chadha (Madison India Capital), Samip Barlota (Price Waterhouse & Co LLP), Swaroop Gudla (Headlands Capital), Ted Craig (Morgan, Lewis & Bockius), William Lo (Hamilton Lane) among many others.

Ashish Fafadia, Partner, Blume Ventures, said, “Secondaries have become a very important source of DPI generation for the alternatives industry as a whole, not only in India, but also globally. Of late, it has also been emerging as a very useful asset class within AIFs and alternatives as a category for Indian family offices, institutional investors, and ultra-HNIs alike. We have had the chance to raise secondaries and continuity funds for Blume over the last five years, and we look forward to sharing some of these experiences.”

Jason Sambanju, Partner, CEO & Founder, Foundation Private Equity, said, “Secondaries in India has come of age. I cannot recall another point in time over the last 18 years when the quality of deal flow—in terms of both fund managers and underlying portfolios—has been as consistent and as good as now. As an Asian GP-led secondaries specialist, India remains a core market for us, and we look forward to continuing to work with IVCA to further develop this market.”

“India’s direct secondaries market has evolved from a niche solution into a meaningful driver of value creation. This growth is expanding liquidity, drawing greater institutional participation, and strengthening the foundations of India’s private equity ecosystem. We are proud to play a role in this transformation as a trusted liquidity partner to the country’s private equity and venture capital community. Over the past decade, we have delivered liquidity to more than 500 shareholders and provided exits to over 25 leading institutional investors—many of whom have returned to us for repeat solutions. These milestones underscore the rising demand for direct secondaries and point to a future where GPs have greater flexibility to optimize portfolios, recycle capital, and pursue strategic realignments,” said a spokesperson for Madison India Capital.

“Secondaries, including continuation funds, are playing an instrumental role in unlocking capital and providing liquidity to investors with the flexibility for fund managers to continue to play a strategic role in unlocking the true potential of a portfolio and achieving growth from a long term perspective. For India’s growing private equity sector, this means more flexibility, deepening of the market, driving sustainable growth, value realisation in the long term, etc. which is evolving the investment landscape in India,” said Kunal Shah, Partner, Price Waterhouse & Co LLP.

Mamtesh Sugla, Managing Director, TPG NewQuest, said, “The secondaries market has rapidly evolved into a core portfolio management tool that allows GPs to structure liquidity while also offering the flexibility of compounding trophy assets. At TPG NewQuest, we continue to deepen our commitment to this space through marquee GP-led transactions, in addition to direct secondary business. With access to the full TPG ecosystem, TPG NewQuest has created a distinct position within the Asian secondary market by partnering with experienced GPs and taking a sector-driven, asset-first approach to underwriting. Through thoughtful asset selection and collaborative engagement, we have seen how innovative GP-led solutions can unlock enduring value. The IVCA Secondaries Summit provides an important platform for industry stakeholders to exchange ideas and advance the continued evolution of this rapidly growing segment.”

Sunil K. Goyal, Managing Director, YourNest Venture Capital, said, “YourNest's association with IVCA goes back a long way, and we genuinely appreciate the contribution made to furthering India’s startup industry. By encouraging entrepreneurship and helping create policies that are founder-first, IVCA has helped put India on the global startup map. This particular event is very close to our heart: as a specialist DeepTech fund, we understand the need for patient capital and the value of longer-term investor-founder relationships. That’s why we believe that secondaries in the form of continuation vehicles must be a primary focus for the industry in these volatile, uncertain times. Personally, I am very happy to be part of this landmark event, and look forward to making things better for all our founders and investors.”

Through a series of insightful sessions, the IVCA Secondaries Conference will encourage collaboration and strategic thinking, enabling stakeholders to align on priorities, share best practices, and position India’s secondaries market as a globally competitive ecosystem. The discussions here will help shape policy frameworks and market practices that drive growth and unlock promising opportunities for investors and fund managers alike.

About IVCA

The Indian Venture and Alternate Capital (IVCA) is a not-for-profit, apex industry body promoting the alternate capital industry and fostering a vibrant investing ecosystem in India. IVCA is committed to supporting the ecosystem by facilitating advocacy discussions with the government of India, policymakers, and regulators, resulting in the rise of entrepreneurial activity, innovation, and job creation in India and contributing towards the development of India as a leading fund management hub. IVCA represents 460+ funds with a combined AUM of over $350 billion. Our members are the most active domestic and global VCs, PEs, funds for infrastructure, real estate, credit funds, limited partners, investment companies, family offices, corporate VCs, and knowledge partners. These funds invest in emerging companies, venture growth, buyout, special situations, distressed assets, and credit and venture debt, among others.

Convergent Finance LLP, announced a strategic investment of $18 million in Kapsons Group by funds advised by Convergent Finance. Founded in 1989, Kapsons Group has been a unique gateway for premium brands to enter and expand across tier-2 and tier-3 cities in India. Notably, the Group has been the preferred partner for international brands seeking to expand beyond metro cities into Northern India.  

With this investment, the Group aims to develop capabilities for the design and manufacture of premium garments through brand-led manufacturing partnerships, expand its footprint nationwide, while enhancing operational efficiency and strengthening corporate governance. The premium apparel segment in India is expected to grow from ~$26 bn in FY23 to ~$57 bn in FY27 at a CAGR of ~21.2% particularly in non-metro cities. The Group is well-positioned to address this demand and cater to the premium fashion markets.

Vipin Kapoor, Founder and Chairman of Kapsons Group said, "Partnering with Convergent Finance marks a significant milestone in our journey, as it validates our ambition to build a market leader in premium fashion. We believe that Convergent’s hands-on approach and long term vision align well with our values, and will be instrumental in unlocking Kapsons Group’s full potential.”

Harsha Raghavan, Managing Partner of Convergent Finance said, "We are delighted to partner with Vipin Kapoor who has done a fantastic job of building Kapsons Group into a leading fashion house in North India. We look forward to working with the team to take the company to the next level, and building a national champion in the growing premium apparel space.”

About Kapsons Group

Founded in 1989, Kapsons Group is one of India’s first organization to market international brands to customers in tier-2 and tier-3 cities in North India. The Group has built a strong portfolio of global fashion brands through partnerships with icons like Tommy Hilfiger, Hugo Boss, Calvin Klein, Gant, Forever New, G-Star, Armani Exchange, Mango, Vero Moda, Jack & Jones, Superdry, U.S. POLO and many more. With India increasingly positioned as a competitive hub for high-quality manufacturing, the Kapsons Group is seeking to leverage its understanding of the Indian consumer and her fashion preferences by extending its activities into designing and manufacturing of premium garments, making it easier to reach customers and provide them with the best brand experience. Having successfully established a strong presence across Northern India, the Group now aims to establish itself as a leading name across India.

About Convergent Finance LLP

Convergent Finance LLP is an investment management and advisory partnership at the forefront of bringing together Ideas, Capital, and passionate Entrepreneurs. The Convergent investment process involves identifying proprietary platform and bolt-on opportunities, speed of execution, and a relentless focus on performance improvement. The Convergent value investing approach believes in paying fair and reasonable valuations through bilaterally negotiated transactions.

India’s clean energy ambitions are set to take centre stage as Shri Pralhad Venkatesh Joshi, Hon’ble Union Minister of New & Renewable Energy, Government of India, will attend the IVCA Renewable Energy Summit 2025 as Chief Guest and deliver the Keynote Address. The event, hosted by the Indian Venture and Alternate Capital Association (IVCA), will take place on July 15 in Mumbai.

Union Minister Pralhad Joshi to Outline Vision for India’s Renewable Energy Future

Bringing together leaders from across the private equity, venture capital, and alternative investment landscape, the summit is a national platform to galvanise climate-aligned private capital in support of India’s energy transition goals. Organised in collaboration with Avendus, EAAA Alternatives, and Singularity Capital, the event will convene policymakers, institutional investors, family offices, climate-tech entrepreneurs, and financial innovators.

Speaking ahead of the event, Shri Pralhad Joshi said, “India’s clean energy transformation is not just an environmental goal—it is a national mission. From renewable generation to battery storage and green manufacturing, private capital will be key to achieving our 500 GW non-fossil fuel capacity target by 2030. I look forward to addressing the IVCA Renewable Energy Summit and reinforcing the government’s commitment to building a robust, investment-friendly ecosystem for sustainable growth.”

India’s clean energy sector is witnessing unprecedented momentum. In 2024, renewables accounted for 83% of total power sector investments, while non-fossil fuel capacity climbed to 44%, underscoring the country’s strong trajectory toward the 2030 target. India now ranks among the top three countries globally in renewable energy capacity addition.

As the government ramps up efforts to scale solar, wind, storage, and green hydrogen infrastructure, it has placed a renewed emphasis on public-private partnerships. Policy innovations, including viability gap funding for battery storage, incentives for offshore wind development, and grid expansion across new geographies, are designed to enable institutional capital participation at scale. This creates a clear opportunity for Private Equity, Venture Capital, and AIFs to partner in India’s next phase of green growth.

IVCA President Rajat Tandon said, “We are privileged to have Hon’ble Minister Shri Pralhad Joshi join us at the summit. His visionary leadership—whether in scaling renewable energy investments, battery storage, or creating a supportive policy ecosystem—has been instrumental in shaping India’s green growth story. His presence reaffirms the government’s commitment to enabling public-private partnerships that drive sustainable, long-term impact.”

The summit agenda includes sessions on:

• Accelerating clean power finance through innovative models

• Enabling clean mobility, AI, and hydrogen ecosystems through renewables

• Energy storage, grid tech and hybrid systems

• Policy frameworks for capital deployment

The speaker lineup features Dr. Ruchi Chojer, Executive Director, SEBI, and Shri Vishal Kumar Dev, Principal Secretary, Energy, Govt. of Odisha, alongside leaders from top financial institutions, family offices, development banks, and pioneering cleantech startups.

The IVCA Renewable Energy Summit 2025 promises to be a watershed moment in aligning capital with climate goals—highlighting how alternate capital can help unlock India’s full green potential.

About IVCA

The Indian Venture & Alternate Capital IVCA is a not-for-profit, apex industry body promoting the alternate capital industry and fostering a vibrant investing ecosystem in India. IVCA is committed to supporting the ecosystem by facilitating advocacy discussions with the government of India, policymakers, and regulators, resulting in the rise of entrepreneurial activity, innovation, and job creation in India and contributing towards the development of India as a leading fund management hub. IVCA represents 450+ funds with a combined AUM of over $350 Bn. Our members are the most active domestic and global VCs, PEs, funds for infrastructure, real estate, credit funds, limited partners, investment companies, family offices, corporate VCs, and knowledge partners. These funds invest in emerging companies, venture growth, buyout, special situations, distressed assets, and credit and venture debt, among others.

Vivek Kakkar, Founder, Accurize Startgrowers Pvt. Ltd.

Vivek Kakkar, Founder of Accurize StratGrowers, commented,"Rabitat is not just building products—it’s pioneering a movement around safer, smarter parenting choices. By merging certified food safety standards with world-class design, Rabitat is well-positioned to lead the next wave of innovation in food contact products (FCP) and conscious parenting essentials."

Accurize Investor Syndicate also participated in the round, underscoring deep alignment between the advisory platform and the brand’s growth journey.

The funding round was led by RPSG Capital Ventures and DSG Consumer Partners, with participation from Capital A, Flair Writing Family Office, Eaglewings Ventures, and leading angel investors including founders from The Souled Store, LivSpace etc.

Rabitat addresses the critical need for safe, functional, and stylish kids' food contact products. The company offers BPA-free, non-toxic drinkware and foodware made from globally certified materials, combining child-safe features with appealing aesthetics.

About Accurize
Founded in 2022 Accurize StratGrowers is a strategic growth advisory and capital syndication platform enabling growth-stage ventures across consumer, retail, and digital ecosystems. The firm specializes in high-impact fundraising mandates, M&A, go-to-market strategy and building long term capability for mission-driven businesses.

For more information, please visit www.accurize.co/

Harsh and Tanvi Somaiya, Co-Founders of The Bear House receive funding from Shark Namita Thapar

The investment deal from Namita, Executive Director of Emcure Pharmaceuticals, who is known for her expertise in scaling businesses, includes Rs. 1 crore for a 1% equity stake and Rs. 2 crore as debt. In the episode, which featured Sharks Namita Thapar, Anupam Mittal, Aman Gupta, Viraj Bahl, and Kunal Bahl, the couple impressed the judges with The Bear House’s profitability, scalability, and product offerings.  Shark Aman even described the brand as ‘too good to be true.’

Shark Kunal Bahl also expressed interest and offered to invest Rs. 3 crore for a 3% equity stake at a Rs. 100 crore valuation. Harsh and Tanvi Somaiya felt Namita Thapar's offer aligned better with their vision and decided to move forward with her when choosing between the two Sharks.

This menswear brand, inspired by European fashion and known for its high-quality, minimalistic, and smart casuals designed for hybrid work cultures, received high praise from the investors.

“Being on Shark Tank and earning the trust and support of the judges is a pivotal moment for The Bear House team! Having them experience our garments and believe in our business model through this investment validates our vision—giving Indian men the freedom to express their unique selves through our clothes, no matter where they go or what they do. This experience has solidified our reputation as a powerhouse in the menswear segment,” said Tanvi Somaiya, Co-founder of The Bear House.

“Our philosophy has always been simple—our product is our brand ambassador!” added Harsh Somaiya, Co-founder of The Bear House.

Having already established an offline presence in Delhi, Bengaluru, and Hyderabad this year, the brand aims to expand into other Tier I, Tier II cities, including Mumbai, Pune, and Chennai. It expects to surpass Rs. 140 crore in net revenue this year, with over 40% YoY growth.

In addition to its strong presence on Myntra—where it holds the top spot in the casual shirts category—the brand is also available on Flipkart, Ajio, Tata Cliq, Nykaa, and Amazon. It is further expanding its reach through collaborations with hyperlocal quick-commerce platforms like Zepto.

“Your story sounds too good to be true—but it’s not just a story, it’s your reality. Despite facing setbacks, you’ve emerged stronger, with a smile on your face and integrity intact. That resilience and commitment make me want to believe in you,” said Namita Thapar while making her offer.

She maintained the brand’s Rs. 100 crore valuation, offering Rs. 1 crore for a 1% equity stake and Rs. 2crore in debt at a 10% interest rate, repayable over five years.

About The Bear House

Founded in 2017 by Tanvi and Harsh Somaiya as a passion project, The Bear House has grown into a premium menswear brand known for its impeccable quality and versatile designs. Catering to discerning Indian consumers who seek effortless transitions between professional and social settings, The Bear House offers a curated range of smart casuals, including shirts, especially popular for its flannel shirts, t-shirts, bottoms, denims, polos, blazers, accessories, and footwear. Designed for modern Indian men who aspire to "Go Everywhere, Do Everything," the brand seamlessly blends international craftsmanship with contemporary style.

The Bear House recently made waves on Shark Tank India, securing investment to fuel its next phase of growth. The brand, expected to cross Rs. 140 crore in net revenue this year with an anticipated 40%+ YoY growth, plans to reinvest the funding into online and offline expansion, along with strategic marketing initiatives leveraging Shark Tank’s reach.

The brand is currently accessible through its e-commerce-enabled website, www.thebearhouse.com, brand’s own app and a growing retail footprint. It operates through Broadway, which is a D2C Multi brand store, present in Delhi and Hyderabad. The brand also recently opened its first EBO in Bhartiya Mall of Bengaluru. Looking ahead, The Bear House aims to launch multiple EBOs in the coming year, further strengthening its presence in India’s fashion landscape—both online and offline.

In addition to its existing partnerships with Myntra—where it holds the top spot in shirts—the brand is also available on Tata Cliq, Nykaa, Amazon and other growing marketplace platforms. The brand is expanding further through new collaborations with hyperlocal quick-commerce platforms like Zepto, where it is already available.

The investment will help Varaha expand its carbon projects across regions, reach a larger number of farmers, and provide greater benefits across diverse geographies, primarily in India and Nepal.
 

Varaha has implemented 14 technology-driven carbon projects in India, Nepal, Bangladesh and Kenya. These span regenerative agriculture, afforestation, biochar and enhanced rock weathering. Varaha has transitioned more than 100,000 smallholder farmers to sustainable practices to date, removing more than two million tonnes of greenhouse gas emissions (CO2e) from the atmosphere. Varaha was the first project developer in India to issue carbon removal credits for biochar under the Puro.Earth registry. In January 2025, Varaha sold 100,000 carbon dioxide removal (CDR) credits to Google, which marked Google’s first-ever large-scale purchase of carbon removal credits in India.

Madhur Jain, Co-founder of Varaha, said, “This investment from Conductor Capital is transformative for Varaha. It represents a significant endorsement of our model and the urgent need for sustainable environmental solutions. It enhances the potential impact of Conductor Capital's project investment by providing a clear pathway for scaling up operations and integrating into India's broader carbon reduction strategies. We are excited to lead the way in creating scalable, sustainable solutions that address climate change at its core, ensuring a healthier planet for future generations."
 

Marcello Romano, Chief Investment Officer of Conductor Capital, said, "We are excited to support Varaha’s innovative approach to carbon project development. Our investment reflects our commitment to backing solutions that offer substantial environmental and social benefits, and Varaha’s tech-driven platform coupled with its rigorous implementation expertise - stands out in this regard."
 

Varaha is a nature-based carbon removal company founded in 2022. Varaha’s mission is to mitigate the quarter of global greenhouse gas emissions that stem from agriculture and food systems by permanently removing carbon from the atmosphere. Varaha has developed projects in four countries, spanning regenerative agriculture, agroforestry, biochar and enhanced rock weathering. These projects simultaneously improve farmer livelihoods, increase climate resilience, and promote biodiversity. Varaha is backed by RTP Global, Omnivore, AgFunder, Artemeter by DRW, Norinchukin Bank, IMC Ventures, Orios, Theia Ventures and Better Capital.

To learn more, visit www.varaha.earth.
 

About Conductor Capital

Conductor Capital, founded in 2022, is an investment manager that is active in global commodity markets key to the energy transition. Conductor Capital is an active investor across projects that deliver meaningful climate impact by leveraging technology-based and nature-based pathways. Our focus is not only on environmental sustainability but also fostering societal co-benefits and stimulating economic development in the world’s most vulnerable communities.

To learn more, visit www.conductorcapital.co.uk.

With global education financing expected to surpass $500 billion by 2029, affordability remains a major barrier for students in emerging markets. Lorien Finance is solving this challenge by leveraging AI-driven lending and a global lender network to make education financing more accessible, faster, and smarter.
 

Strategic Investors Driving Growth
The funding round was led by FlatIronX, a New York-based early-stage VC firm investing in fintech solutions with strong ties to India. Additional investors include Seedstars International Ventures (SIV)—backed by IFC, Visa Foundation, The Rockefeller Foundation, and Symbiotics—as well as Ahimsa Capital, Bhavesh Gupta (Ex-Paytm President & COO), Ashneer Grover (ex-BharatPe MD), Play Holdings, and Silver Ridge Accelerator.
 

A Mission to Make Global Education Affordable
"For too long, financial constraints have determined who gets access to quality education, leaving millions of talented students in emerging economies behind," said Nikhil Mudgal, Founder & CEO of Lorien Finance. "We are changing this by making financing more inclusive and data-driven. This investment will help us push the boundaries of innovation, offering personalized funding solutions while empowering lenders to make confident, real-time decisions."
 

Lorien Finance already connects students to a $3 billion+ lending pool from 17+ international lenders, including Sallie Mae, a leading US education lender. This allows students to access interest rates as low as 3.49%. Since inception, over 1,000 Indian students have applied for funding through Lorien Finance.
 

Expanding Access in India
With this fresh capital, Lorien Finance will expand its reach to Tier 2 and Tier 3 cities in India, where access to financing remains limited. The company will also strengthen its AI-driven risk assessment technology, enabling faster underwriting decisions and more personalized financing solutions for students and lenders.
 

“The combination of a digital-first lending process and a data-driven risk assessment model is what makes Lorien Finance such a compelling opportunity. This approach not only benefits students but also strengthens the financial system by enabling lenders to deploy capital more effectively,” said Shreya Choubey, Partner at FlatIronX, and the former Product Head for Advice at MoneyLion (NYSE: ML), a leading US fintech platform with over 20 million customers.
 

"Access to quality higher education remains a challenge, and Lorien is uniquely positioned to bridge the financing gap, enabling more Indian students to study at top global institutions," added Charlie Graham-Brown, CIO & Co-founder at Seedstars International Ventures.
 

Lorien Finance is hiring across key functions to support its rapid expansion and invites top talent to join its mission of transforming global education financing.
 

About Lorien Finance
Headquartered in the US and India, Lorien Finance is a cross-border fintech platform dedicated to providing affordable education loans and comprehensive financial services to students pursuing studies abroad. Founded in 2022, Lorien Finance partners with over 17 global lenders to offer competitive interest rates and tailored loan solutions without requiring collateral. Beyond education loans, the platform offers services such as test bookings, forex exchange, insurance, international debit/credit cards, global SIM cards, GIC account setup, accommodation assistance, and placement support, ensuring a seamless transition for students to their new academic environments. With a data-driven approach, Lorien evaluates each student's potential and future employability, aiming to remove financial barriers and empower students to achieve their educational aspirations.
 

For more information, please visit lorien.finance.

Anu Prasad, Founder and CEO, ILSS; Amit Chandra, Co-founder, A.T.E. Chandra Foundation; Willeke van Rijn, CEO, The Resource Alliance

IFRC 2025 promises a rich and diverse platform featuring renowned international experts, and pioneering social sector leaders. Through engaging panel discussions, interactive workshops, and thought-provoking presentations, the conference will address critical issues, shaping the future of fundraising. Attendees can expect to gain insights into global fundraising and future-facing trends, and tools such as the social stock exchange, or the rise of generative AI in fundraising, exploring its potential and ethical considerations in donor engagement, campaign planning, and resource mobilisation. Furthermore, the conference will delve into the crucial aspect of building sustainable funding models, addressing long-term sustainability challenges, and exploring innovative approaches to diversified funding, including impact investing and blended finance. Overall, the conference will facilitate a global perspective on the art and science of fundraising, provide an opportunity to learn from international experts and network with a vibrant international fundraising community.

Anu Prasad, Founder and CEO of ILSS, says, "IFRC 2025 will be a pivotal gathering for the Indian social sector. We are excited to explore the future of fundraising, equip leaders with the knowledge and tools they need to thrive and foster a vibrant and collaborative ecosystem for social impact."

Recognising the power of storytelling and digital engagement in today's world, IFRC 2025 will dedicate sessions to leveraging the power of digital platforms and compelling narratives to build meaningful connections with donors and drive impactful campaigns. The conference will also create a platform for dialogue between funders and nonprofits around equitable funding practices, and ensuring transparency and accountability in funding relationships.

Talking about the partnership between ILSS and The Resource Alliance, Willeke van Rijn, CEO of The Resource Alliance, highlights the significance of IFRC 2025 as a valuable platform for knowledge exchange and collaboration. "Connecting the Indian social sector with global best practices is key to fostering a thriving fundraising ecosystem. Events like the IFRC, then, are the foundation on which the future readiness and resounding success of this sector will be built. We are proud to partner with ILSS to bolster that success in India."

A key highlight of IFRC 2025 will be the Pitch Fest, a unique platform designed to empower aspiring social impact leaders and fundraising professionals. This platform provides a stage for these individuals and organisations to showcase their innovative projects to a panel of esteemed judges. Selected finalists will have the opportunity to pitch their ideas, with the winning projects receiving invaluable mentorship opportunities, cash prizes up to INR 2,00,000, and exposure to a wider audience.

Amit Chandra, Co-founder of the A.T.E. Chandra Foundation, who is also a speaker at the Conference, emphasises the foundation's commitment to supporting IFRC 2025. He says, "The A.T.E. Chandra Foundation is proud to support IFRC 2025. We believe that strong fundraising is crucial for building a more equitable and just society, and we are committed to empowering the next generation of social impact leaders."

Registrations for IFRC 2025 are now open. For more information and to register, please visit: www.indialeadersforsocialsector.com/ilss-events-2.

About ILSS
India Leaders for Social Sector (ILSS) is a learning and leadership development organisation focussed on building leadership capacity for India’s social sector. Through a range of programs across areas of Women’s Leadership, Fundraising, People Practices, Board Leadership and Governance, Digital Transformation and Leadership, ILSS equips crossover and sector-grown leaders with the knowledge, skills and mindset necessary to navigate the complexities of India’s social sector and make a meaningful contribution.

About The Resource Alliance
The Resource Alliance is a global network of individuals and organisations working to strengthen the social sector. Through research, training, and advocacy, they support fundraising professionals, philanthropists, and social sector leaders to maximise their impact.

About the A.T.E. Chandra Foundation
ATE Chandra Foundation (ATECF) works closely with nonprofits and governments to design and scale solutions that impact the most marginalised populations. They focus on two key areas: (i) Capacity Building (building the capacity of professionals, organisations, and the ecosystem to create a stronger and more resilient nonprofit sector) and (ii) Rural Development (addressing key rural issues and investing in rejuvenation of water bodies and regenerative agricultural activities).

thePack.in team
 

Shobhit Mohanty, Founder of thePack, said, “India is home to a growing number of first-time dog parents. Without proper guidance, the journey to raise dogs can be quite overwhelming for first time parents. Limited access to expert advice, essential information and resources has led to India boasting the world’s highest pet abandonment rate. We're committed to bridging this gap. Our goal is to empower parents with the knowledge and support they need to raise happy, healthy dogs. With this funding, we'll expand our reach, strengthen our community and solidify our position as India's most trusted educational platform for pet parents.”
 

As per industry reports, the pet population in India stands at approximately 35 million, growing at a CAGR of 15%. However, India also boasts the highest pet abandonment rate in the world with nearly 50% current and previous pet owners stating they have relinquished a pet, compared to 28 per cent globally. As per thePack team, most of these abandonments are due to preventable health and behaviour issues in dogs, which can be solved through a more informed and pro-active approach.  By democratizing access to expert advice and pet care education, and by creating a supportive pet parents’ community, thePack seeks to make it easier for pet owners to raise dogs and reduce the pet abandonment rate in India.
 

Rohit Kalsi, Investor, added, “As passionate pet parents and entrepreneurs, we see immense potential in thePack to democratize access to quality dog care in the country. By making it easy for first-time pet parents to receive qualified expert guidance, we’re confident that thePack will not only simplify pet parenting but also fuel industry growth and bring a positive change to the ecosystem. We’re proud to be a part of this movement.” 
 

thePack.in was started in Nov 2020 by a group of first-time pet parents who faced innumerable challenges in raising their dogs. Over 4 years, thePack has helped 20,000+ pet parents learn more about their dogs and adopt best practices.  Their team of certified experts have hosted thousands of online and in-person events, consultations and other interactive educational sessions to solve the challenges that pet parents face in raising their dogs.
 

About thePack

thePack.in is a petcare startup that is dedicated to helping Indian pet owners live happier lives with their pets. We make it easy for pet parents to get expert help, access educational tools and resources, and learn more about their dogs with a like-minded and supportive pet parent community. Our goal is to solve the problems faced by pet parents all over India & reduce the pet abandonment rate.
 

Since starting up in Nov 2020, thePack.in has directly interacted with and helped over 20,000+ parents in their journey. The team is made up of India’s most qualified petcare experts, who boast a collective experience of 100+ years of working & have worked with 3000+ dogs.

Navanc, a pioneering FinTech startup building India’s first AI-powered property score and stack for secured lending and insurance practices, has successfully raised USD 1 million in a seed funding round. The round was led by Prarambh Ventures, with participation from Inflection Point Ventures (IPV), Brigade REAP FirstPort Capital, and marquee angel investors

(L) Byom Kesh Jha, CT&DO, (R) Nagachethan S M, CEO; Co-founders, Navanc

The funds will be directed toward expanding operations across India, with a focus on strengthening Navanc's presence in urban and semi-urban areas. Additionally, the startup will bolster its AI FinTech capabilities by incorporating Generative AI and Computer Vision models to further its vision of becoming India’s first Property Credit Score and Stack provider.

Navanc was founded by Nagachethan S M, CEO, and Byom Kesh Jha, CT&DO, in 2021. With a strong background in technology and finance, Nagachethan leads Navanc’s vision and strategy, driving innovation in the BFSI segment. A seasoned data science professional, Byom oversees Navanc’s Technology and Data Science, ensuring seamless execution of its AI and Tech goals.

Mr Mitesh Shah, Co-Founder, Inflection Point Ventures, says, ”Banks, NBFCs, HFCs all face the same challenges in mortgage and property assessment: inconsistent and time-consuming property valuations, lacking both transparency and data to build trust. By providing precise & scalable property valuation, transparency and reliability, Navanc helps every player in the industry make informed decisions based on real-time assessment, data and knowledge of legal and technical aspects. Thus reducing risks for both lenders and buyers. As investors, we are confident in Navanc’s potential to make property valuation efficient, trustworthy and data-driven.”

Mr Sreenivas Ramarao, from Prarambh Venture opines, “We believe Navanc is the pioneer in delivering AI and Digital services in making the real estate transactions faster, cheaper, reliable and more accurate. We also have great confidence in the team and are fully confident of their ability to deliver user friendly products in the space.”

“Brigade REAP has played a key role in refining and accelerating growth for Navanc, who have shown immense potential in revolutionizing property assessment through their innovative solutions. Navanc's strengths lie in its ability to streamline financial access for properties by integrating AI, IoT and Blockchain for secure, transparent transactions, making it a transformative player in the PropTech sector. Our association with Navanc is testament to our commitment to fostering innovation in the PropTech sector,” commented Abhay Garg, the Head of Brigade REAP.

Navanc stands out as India’s first FinTech startup to introduce an AI-powered property score and stack, specifically designed for secured lending and insurance practices. Its comprehensive collateral assessment, powered by cutting-edge AI and ML models, significantly enhances credit decision-making and portfolio management for the BFSI industry.

Nagachethan S M, CEO, Navanc, says, “We’re grateful for the support of our investors and excited to further our mission of revolutionizing secured lending and insurance practices in India. Our AI-powered solutions are set to make property transactions faster, more transparent, and accessible to all.”

Currently operating across Tiers of cities in about 6 states, Navanc is focused on expanding its reach to all states under its Bharat Vision. This strategic move aims to foster financial inclusion across India, transforming property lending and insurance practices nationwide.

Since its inception in 2021, Navanc has developed a cutting-edge data driven technology stack that streamlines secured lending, insurance, and property management practices in the BFSI sector. Its innovative solutions significantly reduce turnaround time, enhance transparency, and facilitate improved credit decision-making and portfolio management. The Indian property lending market is poised for exponential growth, with a rapidly increasing demand for digital and AI-enabled solutions to facilitate secured transactions.

About Navanc
Navanc, founded in 2021 by Nagachethan S M and Byom Kesh Jha, is a FinTech innovator developing AI-driven solutions for secured lending and property assessment in the BFSI sector. With a focus on building India’s first property credit score and AI stack, Navanc is transforming the way financial institutions assess and manage collateral.

RenaissThera is revolutionizing the fight against cardio-metabolic diseases like diabetes and obesity through its AI-powered Innovation Platform, leveraging Generative AI (GenAI) and machine learning to rapidly identify and optimize small molecules for targeted therapies. Mr. Sudhir Nagarajan, Managing Director, said, “We thank all the investors in this round for their support and belief in our team and the promise of RenaissThera in delivering innovative medicines.” With the successful close of its seed funding round, CEO Dr. Ramkesh Meena stated, “This milestone enables us to scale up and validate our early-stage pipeline in pre-clinical proof-of-concept studies and get ready for IND filing next year, propelling us closer to delivering life-changing, affordable therapies that address critical gaps in care.” This innovative approach combines scientific rigor and efficiency to reduce development timelines and costs while improving patient outcomes worldwide.

About RenaissThera

RenaissThera, based in Bengaluru, India, is a biotechnology company dedicated to developing affordable, novel small-molecule targeted therapies leveraging AI platforms. Our goal is to innovate for underserved populations and bridge the gaps in novel therapy access worldwide. We focus on high-unmet-need areas of prevalent diseases in key therapy areas such as Cardio-metabolic including diabetes and obesity indications. Leveraging our Innovation Platform powered by GenAI tools, we identify small-molecule therapies for proven pathways, ensuring cutting-edge solutions for patients.

For more information, visit www.renaissthera.com.

Empowered by AI-driven estimations from DealDox CPQ, say goodbye to manual spreadsheets and word templates

Founder Mohammed Khasim states, “Our enterprise software is more than just a quoting and estimation tool; it transforms the entire deal lifecycle. By shaping deals, streamlining approval processes, and enabling dynamic content generation. We provide a powerful, end-to-end solution that enhances efficiency, speeds up deal closures, and drives business growth.”

Co-founded by Sandhya S Hegde, DealDox is harnessing AI to revolutionize proposal and quotation generation. Unlike traditional CPQ platforms like Salesforce, Oracle, SAP, Zoho, Conga, Odoo, and ConnectWise Sell, which cater predominantly to product-focused businesses. DealDox is built for B2B organizations with complex product and service offerings. By eliminating manual spreadsheets and Word documents, the software boosts efficiency and accuracy maximizing ROI.

The pre-sales automation platform addresses a critical pain point for businesses still relying on disconnected tools like spreadsheets, custom applications, email-based approval processes, and Word templates stored on shared drives. These outdated methods leave quoting and sales workflows fragmented, prone to errors, and inefficient. DealDox provides a unified, automated solution that integrates seamlessly with other systems, eliminating manual processes and potential mistakes that can slow down sales cycles and hinder business growth. By unifying all processes into one connected system, the platform enables companies to streamline operations, enhance accuracy, and close deals faster. In addition to the existing web-based platform, the company offers a user-friendly mobile app that allows sales professionals to quickly generate quotations and proposals on the go, ensuring no deal is missed.

This Seed funding will help DealDox expand its team, tackle industry-specific challenges, and increase its market presence. The team is immensely grateful for the confidence and support shown by investors and remains dedicated to delivering exceptional results. 

The angel investor added, “DealDox, a cutting-edge AI-powered SaaS startup, is poised to make a significant impact on the global market. This innovative company specializes in cloud-based CPQ software, offering a compelling investment opportunity.”

With the global CPQ market projected to grow to $7.96 billion by 2031, driven by the demand for efficient sales automation, DealDox is uniquely positioned to capture a share of this rapidly expanding space.

DealDox has made significant strides in the manufacturing industry, partnering with leading companies such as Geberit Group - a European leader in the field of sanitary products, Universal Precision Screws - a leading fastener manufacturer, R&D Them – Chemical Equipment Manufacturers, and Daspass Sales Corporation - a pioneer in HVAC manufacturing. As the company continues to expand its reach, it is actively expanding into sectors like IT, automotive, construction, engineering, interior design, and healthcare. With its proven track record in manufacturing, the startup is well-positioned to revolutionize pre-sales processes in these diverse industries.

DealDox’s AI-powered technology guarantees future relevance, while its versatility ensures a stable customer base across multiple industries. This combination of factors makes it an attractive investment option for those seeking to capitalize on the growing demand for efficient sales automation solutions. Click here for a personalized demo.

#AltCap101 By IVCA to Empower Fund Managers with Alternate Investment Strategies

Scheduled to take place on 17th October 2024 in Mumbai, this specialised learning and knowledge-sharing programme will bring together Senior Management teams and CXOs of venture capital funds (VCs), micro-VCs, private equity (PE) funds, institutional investors, family offices, corporate venture capitalists (CVCs), and limited partners (LPs). For fund managers looking to make gains in alternate capital, this is an unparalleled opportunity to network with stalwarts of the financial ecosystem. It comes at a pivotal moment, as India’s alternate capital industry has been undergoing a remarkable transition. According to industry estimates, over the past decade and a half, India’s private capital assets under management (AUM) has more than tripled, reaching a record $124.3bn by the end of 2023.

Rajat Tandon, President, IVCA, placed emphasis on the programme’s importance as success in today’s alternate capital landscape demands more than just technical expertise, “#AltCap101 is designed to equip fund managers with a comprehensive understanding of the ecosystem, while providing a deep dive into the resources needed to thrive in today's financial landscape. The sessions, led by subject matter experts, will cover topics such as leveraging technology and AI in fund management, and conducting due diligence for effective risk management. Participants will move beyond the basics, gaining actionable insights into the alternate capital space, positioning India as a global hub for fund management.”

Tejesh Chitlangi, Joint Managing Partner, ICUL highlighted the importance of the timing of the programme, “#AltCap101 is designed to practically explain the finer nuances of the plethora of changes the Indian as well as global legal-regulatory regimes have undergone over a short span of time. Regulators expect letter as well as in-spirit compliances by the Funds and the GPs need to be absolutely on top of these frequent developments as the same would be critical from a risk management/mitigation perspective. Also, navigating the ever-evolving dynamics of the LP-GP relationships, exploring innovative fund structures need careful examination and strategizing. All these and many more topics in the form of practical examples and case studies will be discussed during the programme, which should benefit the entire Fund eco-system.”

#AltCap101 by IVCA will include advanced modules on critical topics such as navigating regulatory frameworks, leveraging technology and artificial intelligence (AI) for fund management, internalising versus externalising fund strategies, mastering due diligence and risk management, and much more. By attending immersive seminars led by industry leaders, participants will gain actionable perspectives on rising governance standards, the implications and importance of negotiating legal and commercial mandates, and the latest developments in this fast-moving industry.
 

Vivek Soni, Partner & National Leader - Private Equity Services, EY India said, “#AltCap101 has been designed as a key experience for fund management professionals seeking to excel in the rapidly evolving Indian alternate capital landscape. In today’s environment, investment success requires more than the technical know-how; it demands a good understanding of governance, portfolio management, and the effective integration of technology and AI for better PE/VC fund management. As India’s alternate capital markets grow in significance, this program seeks to equip fund management professionals with the essential tools and knowledge to stay ahead. By leveraging insights from industry leaders and engaging with real-world case studies, #AltCap101 offers a unique opportunity to learn from experts in the field, ensuring that participants are prepared to tackle the challenges of tomorrow.”

The event will feature an impressive lineup of speakers, including, Smt Nivruti Rai, MD and CEO of Invest India; Ashley Menezes, Chairperson IVCA and Partner & COO, ChrysCapital Advisors LLP; Saurabh Agarwal, Founder and Managing Director, Altstone Capital; Sudhir Variyar, MD & Deputy CEO, Multiples PE; Neha Grover, Regional Lead-IFC, South Asia Funds Group, International Finance Corporation (IFC) and Vineet Rai, Founder & Vice Chairman, Aavishkaar Group.

Industry leaders who are a part of the prestigious IC Universal Legal, Advocates & Solicitors (ICUL), namely Tejesh Chitlangi, Joint Managing Partner, ICUL; Sambhav Ranka, Senior Partner, ICUL; Leelavathi Naidu, Partner, ICUL; Sushreet Pattanayak, Partner, ICUL; Puneet Shah, Partner, IC Universal Legal (ICUL), Sanchit Kapoor, Partner at ICUL; and Twinkle Dhamecha, Partner, ICUL, will present their perspectives on the alternate capital space.

Representing EY India at the event will include: Vivek Soni, Partner and National Leader, EY India; ⁠Santosh Tiwari, Partner, EY-Parthenon India; Prashant Garg, Partner, Technology Consulting, EY India; Ashish Kakwani, Partner, EY-Parthenon India; Subramaniam Krishnan, Partner, EY India; Nachiket Deo, Partner and National Leader, Private Equity Tax, EY India; Ashish Singhal, Partner, Transaction Diligence, EY India and Sheetal Garg, Partner, Strategy and Transactions at EY India

Rajat Tandon, President, IVCA and Amit Pandey, Lead: VC Ecosystem and Capacity Building, IVCA will also be a part of the summit and share their expertise in the discussions.

A one-of-a-kind opportunity to explore the alternate capital landscape, #AltCap101 by IVCA will feature real-world case studies and scenario-based learning, equipping participants with practical insights to address challenges within this evolving sector.

About IVCA – Indian Venture and Alternate Capital Association

The Indian Venture and Alternate Capital Association (IVCA) is a not-for-profit, apex industry body promoting the alternate capital industry and fostering a vibrant investing ecosystem in India. IVCA is committed to supporting the ecosystem by facilitating advocacy discussions with the Government of India, policymakers, and regulators, resulting in the rise of entrepreneurial activity, innovation, and job creation in India and contributing towards the development of India as a leading fund management hub. IVCA represents 46% of overall AIFs in the country, and its members are the most active domestic and global VCs, PEs, funds for infrastructure, real estate, credit funds, limited partners, investment companies, family offices, corporate VCs, and knowledge partners. These funds invest in emerging companies, venture growth, buyouts, special situations, distressed assets, and credit and venture debt, among others.

With a commitment to delivering scientifically advanced clinically backed beauty solutions, Conscious Chemist is rapidly becoming a key player in India’s flourishing Beauty and Personal Care (BPC) sector. The sector is expected to grow to USD 34 billion by 2028, driven by rising disposable incomes, a surge in online penetration, an increased focus on self-care, and a shift toward high-quality products. It is projected to grow at a CAGR of 25% from 2023 to 2028, with more customers seeking effective, science-backed solutions for their skincare needs.

An investment from Atomic Capital will surely bring valuable strategic plans for the company, especially toward scaling up the operation, supply chain, marketing, and distribution of products. In addition to new product launches, the brand expansion will include elevating customer experience through data-driven insights and penetrating new markets in the beauty and wellness domain. As a digital-first brand, Conscious Chemist is well-positioned to benefit from growth in online marketplaces and direct-to-consumer platforms reaching the most tech-advanced customers across the country.

Prakher Mathur & Robin Gupta, Founders, Conscious Chemist

Commenting on the latest development, Conscious Chemist CEO Robin Gupta said, "We are glad to have Apoorv join our board in this new partnership with Atomic Capital. This is an exciting time for Conscious Chemist as we focus on scaling rapidly and bringing more innovative, science-backed skincare solutions to Indian consumers. Our vision is to transform beauty with products that deliver real results and transformative experiences.”

Apoorv brings invaluable experience from his past tenure at Guild Capital and is serving as a board member for various brands such as Fitelo, Easebuzz, Plix, etc., where he worked closely with these high-growth consumer brands. He set up Atomic Capital, an early-stage fund with an operating VC playbook. He holds a distinctive track record backed by strong exits.

Apoorv, Founder & Managing Partner of Atomic Capital, said, “We believe Conscious Chemist has tremendous potential in the BPC space. Their science-backed approach resonates with today’s consumers, and the brand’s growth trajectory is incredibly promising. I’m looking forward to supporting the team as they work toward their 100 Cr. ARR goal.”

Atomic Capital is an early-stage fund developed by Apoorv Gautam with an operating VC playbook. He holds a distinctive track record backed by strong exits. Apoorv said “The fund has seen strong love from the founder community and given the deal flow we have to be selective in our investments. We were encouraged by Conscious Chemist’s capital efficiency and are very excited to partner with the team. We believe in becoming a true partner in founders’ journeys and not just remaining a passive financial investor. We have built a strong ecosystem of support and Conscious Chemist has already started leveraging our network.” Atomic Capital has completed its first close within just a few months of launch and is on track to close the fund soon. The fund has a team in place with offices in Mumbai and Bangalore.

Founded in 2019 and featured on Shark Tank India Season 3, Conscious Chemist has quickly gained consumer trust, serving over 10 lakh customers across India. The brand reaches customers through platforms like Amazon, Nykaa, Myntra, Flipkart, Blinkit, Zepto, and its own D2C website. Known for innovative formulations using globally sourced, clinically proven ingredients such as Salicylic Acid, Kojic Acid, Peptides, and Hyaluronic Acid, Conscious Chemist stands out in a competitive market. With new funding from Atomic Capital, the brand aims to enhance product development, expand its digital presence, and offer effective, affordable skincare solutions for Indian consumers.

Palak Gala and Rushabh savla - Team Paptech

Strengthening Global Supply Chain

This round marks the beginning of a larger effort by Paptech Corp to revolutionize its supply chain by sourcing materials from international markets. The current fundraising serves as a launchpad, with plans underway to secure additional debt and Letter of Credit (LC) facilities from international banks. These future capital injections will support the import requirements necessary to meet growing demand and increase operational capacity.

"As part of our ongoing strategy to scale our operations, this debt financing will allow us to streamline our supply chain while continuing to provide high-quality products to our clients," said Rushabh Savla, the Founder of Paptech Corp Pvt. Ltd. "Debt funding is not only a more cost-effective option compared to equity funding, but it also enables us to maintain financial agility as we expand."

Strategic Partnerships and Future Growth

In addition to its financial growth, Paptech has developed a strong partnership with Asia Pulp & Paper (APP), one of the world’s largest paper mills. This relationship positions Paptech as one of the few distributors of APP's packaging boards in India, enabling the company to provide high-quality materials to its clients in the packaging sector.

"We have been profitable since day one, and we are poised to double both our top and bottom lines in the next year. Our foray into international markets with imports as well as exports is key to that strategy," the Founder added.

Technological Innovations

In addition to expanding its supply chain, Paptech Corp is making strides in innovation. The company has developed a proprietary application aimed at improving stock management and providing clients with a seamless interface for searching and managing inventory. This technology is currently in the process of being patented, underscoring Paptech's commitment to both operational efficiency and customer satisfaction.

As Paptech continues its growth journey, this recent debt fundraising milestone represents a significant step toward achieving its long-term business goals.

About Paptech Corp Pvt. Ltd.

Paptech Corp Pvt. Ltd. is a leading distributor in the packaging boards industry, known for its strong partnerships and innovative solutions. With a focus on sustainable growth and profitability, Paptech aims to reshape the industry through strategic global partnerships and cutting-edge technology.

Dr. Shivaraman Ramaswamy, Director and CTO, BBBS in the presence of Shri Rajnath Singh, Defence Minister (file photo)

The round was heavily oversubscribed and included marquee investors who led the round including the Mumbai Angels Network, the Vyom Family Office, the SBI Startup Branch Chennai, Asquare Investing and others which was facilitated by the team of Negen Wealth. Given heavy oversubscription, the firm also offered existing investors a chance to exit.

Dr. Shivaraman Ramaswamy, Director and CTO, BBBS showcasing Anti-drone defence system to Hon’ble Prime Minister Sri Narendra Modi (file photo)

“Building a defense business requires patient capital. But expecting investors to have a 25 year horizon is a pipe dream. We therefore looked at the problem through a different lens. We decided to rotate the cap table 8 times in 25 years giving investors timely exits and an option to stay on. This can help build a company that can be a legacy brand and add real value. It is better to underprice a round than leave little on the table,” Praveen Dwarakanath, CEO of BBBS said.

The multi iDEX winner, BBBS was part of the recently concluded Indian Ministry of Defence delegation to various countries in Africa including Kenya, Algeria, Tanzania and Mozambique. The impressive showcase of its products led to significant interest regarding export of its solutions which it will be fulfilling in the next couple of months. Having made a dent in the African market, BBBS will be entering the European market in the coming quarter.

“When we set out to build a product, we benchmark ourselves globally, allowing us to compete both in India and across the world and ensure longer product lifecycles. While R&D is in our DNA, and we will do what it takes to transform the landscape of Indian Defence, we are clear that the timeline to monetization must go hand in hand with adequate creation of core intellectual property. Credit is also due to the government, DDP’s flagship iDex initiative and the Indian Armed Forces, who have envisioned the policies that have enabled this transformative growth,” Dr. R. Shivaraman, CTO of BBBS said.

In Indian operations, BBBS’ Naval Research and Development Center (NRDC) in Chennai is undertaking a pivotal role in product development in close collaboration with the Indian Navy on various projects including Non-Lethal Naval Deterrence, AI enabled Fire detection and Suppression, High Expansion Fire Fighting Systems, AI enabled Maintenance Modules, etc. BBBS has also signed a strategic manufacturing partnership with renowned JCBL Group, to jointly expand into precision manufacturing.

BBBS core domains include Artificial Intelligence, Electronic Warfare and Nanotechnology. Having a talent pool with expertise in such diverse fields helps them stay one step ahead of the rest.

While the talk in town is generally about startups who keep raising money and set out to become Unicorns, this is the rise of a different breed: of the Indian Dragon – a startup which is profitable and has returned capital to its shareholders.

About Big Bang Boom Solutions (BBBS)

Big Bang Boom Solutions is India's fastest growing Startup in the Defence Sector. Founded by Dr. Shiva and Praveen Dwarakanath, serial entrepreneurs in Deep Tech, it aims to co-create intellectual property that can be used by Indian Armed forces to counter asymmetric emerging threats. The founders have a great network in the research space which helps them develop technology faster and more frugally that by anyone else.

In addition to anti drone system, the company has won Multiple iDex challenges announced by the Ministry of Defence and has successfully completed 3 of them in diverse fields including electronic warfare, artificial intelligence and nanotechnology.

The company has also managed to setup channels for sales to friendly foreign nations with the help of the Export Promotion Cell, DDP, MOD.

Aditi Mittal (Co-Founder & COO, Newmi Care) and Sanchit Agarwal (Founder & CEO, Newmi Care)

This marks KVIF’s third investment, following its investments in FlexifyMe, a chronic pain management health-tech platform and Knorish, a Gen-AI based content monetization suite.

Newmi Care is an outpatient care platform focused on women health and wellness. The company addresses the need for quality OPD care for women through a triad of OPD clinics, insurance products and digital marketplace. Since its inception in May 2022, Newmi has serviced more than 60,000 women across 400 cities in India covering health concerns ranging from menstrual, sexual & hormonal health, fertility & maternity, menopause and women reproductive organ cancers.

Newmi has launched multiple market first solutions including women centric OPD insurance products with leading insurers. They currently have 10 operational clinics in Delhi/NCR.

This round of capital infusion will fund Newmi’s women-focused clinic expansion in North and West India, talent acquisition and tech development.

“We are on a mission to simplify outpatient care for women in India and bring women health to forefront. This capital infusion is a step to move closer to our path to solve for women health at scale in India," said Sanchit and Aditi Founders of Newmi Care.

Maneesh Bhandari, CEO of GrowthPal and the Investor Forum’s member shared his thoughts, “Very excited to be part of the journey with Newmi founders Sanchit and Aditi.  Women's health requires focused, specialised and continuous proactive attention and that along with founders' passion and personal & professional experiences, makes this venture very special.

Key Venture was instrumental in evaluating, syndicating and facilitating the investment for Newmi, and our investor group through KVIF had a very pleasant and sincere experience working with the entire Key Venture team."

Nidhi Saraf, CEO & Co-Founder of Key Venture, “Newmi’s model of payor and provider ensures a patient is provided with solutions customsied to one’s needs across the value chain thereby increasing value for both patients and the healthcare service providers. This unique proposition coupled with the founding team’s expertise in strategy and building consumer brands sets the company for profitable hypergrowth.”

Key Venture’s Investment banking arm served as financial advisor to Newmi Care.

To learn more about the transaction and Key Venture’s recent deals, Click here.

Nithin Kamath in the event launch with the leadership team of GoSports Foundation
 

Rainmatter’s grant will enable GoSports Foundation to focus on enhanced systems and processes, leadership development and legacy-building projects that will drive forward organisational effectiveness and the momentum towards its mission of enabling sports excellence.

Speaking at the launch, Deepthi Bopaiah, CEO of GoSports Foundation said, “We are delighted to have Rainmatter as our partner. The Rainmatter team’s belief in our work reinforces our belief in the importance of sport in the nation-building process and motivates us to jointly create a lasting legacy of sports excellence in India.” 

Rainmatter has been a strong advocate of building a "Fitter India", with this partnership with GoSports Foundation, their commitment to promoting sports and fitness at all levels is further solidified.

Nithin Kamath, Founder & CEO at Zerodha & Rainmatter, stated, "India has sporting talent but we also need to develop systems and processes around coaching and athlete development to make these players truly world class. This needs structured and long-term planning to develop an inclusive & sustainable sports ecosystem in India. Rainmatter is glad to partner with GoSports Foundation and is committed to supporting their efforts to create more athletes in India that all of us can be proud of."

Over the last 16 years, GoSports Foundation’s mission has been backed by the CSR initiatives of Aditya Birla Capital, AMM Foundation, AT&T, Brigade Foundation, HDFC Bank (Parivartan), Hyundai Motors India Foundation, IndusInd Bank, Infosys Foundation and Sony Pictures Network, among others. The capacity-building grant will aid the GoSports Foundation to make internal investments in its team, technology and systems to enhance its efficiency and impact as it continues its mission to enable sports excellence in India.
 

About Rainmatter

Rainmatter is an investment firm focused on backing Indian founders who are working on innovative solutions to help Indians make better choices with their money and health. As the investment arm of Zerodha, one of India's leading online brokerage platforms, Rainmatter leverages its expertise and network to support promising startups and drive positive change in the Indian market.

About GoSports Foundation

Founded in 2008, the GoSports Foundation is a non-profit organization dedicated to nurturing Indian sporting excellence across disciplines, genders, age groups, and geographies. The organisation currently supports over 200 athletes who aspire to represent India on the global stage, multiple academies, coaches and sports organisations through its CSR-supported programmes. Over 29 Olympians, 35 Paralympians and 16 Paralympic medals have been supported by GoSports Foundation’s programmes. 

Arka Launches its second fund of Rs. 500 Cr with Rohan Builders 

Arka Hreem Fund is strategically designed to bring in equity investments in the residential sector in India, with good quality counterparties across metros, which is starved of institutional equity despite the improved landscape in the recent years with better corporate governance, consolidation of the sector and the high growth potential. The Fund shall be focused on Tier 1 cities and invest with Grade A developer partners. It is managed by AIASPL and sponsored by Arka Financial Holdings Pvt Ltd - the financial services platform backed by Kirloskar Oil Engines Limited. The unique structure with Rohan Builders as a Partner ensures a blend of deep industry knowledge and robust investment acumen.

"We are proud to introduce the Arka Hreem Real Estate Opportunities Fund as a strategic investment opportunity that aligns with our commitment to delivering exceptional value to all our stakeholders," said Sonit Singh, Chief Business Officer - Real Estate, Asset Management & Advisory. "Our collaboration with Rohan Builders and backing by Kirloskar Group exemplify our dedication to addressing market needs and achieving superior returns for our investors."

“Our engagement with Arka Investment Advisory on the Arka Hreem Fund is a strategic move to leverage our deep industry expertise, strong execution capability and extensive network in the real estate sector. We are excited about the potential this fund holds for the sector as it is not for Rohan or its projects but rather the market and are confident it will provide significant value to the investee developers and investors alike,” said Suhas Lunkad, Chairman & Managing Director of Rohan Builders.

The first fund - Arka Credit Fund I, has demonstrated strong performance with investments across sectors like transportation, real estate, financial services, steel manufacturing & waste management demonstrating its capabilities to support companies across multiple sectors & stages of growth.

About Arka Investment Advisory

Arka Investment Advisory is a leading investment firm specializing in innovative financial products and solutions. With a focus on real estate and credit markets, Arka Investment Advisory leverages its extensive industry expertise and strategic partnerships to deliver outstanding returns and create long-term value for investors.

For more information on Arka Investment Advisory Services Pvt Limited, Arka Real Estate Opportunities Fund I and other investment opportunities please visit www.arkaholdings.com/de/web/arka-investment-advisory 

About Rohan Builders

Rohan Builders is a leading player in the Real Estate Development, Infrastructure Development and EPC Contracting sectors with headquarters in Pune and operations across India. Known for its user centric design and planning, Rohan Builders is a team of over 2,000 professionals and has delivered over 30 million square feet across the country. It has been rated DA2+ by CRISIL for last 14 years and has been consistently certified as a Great Place to Work by the GPTW organization. As a participant at the UNGC, the Group stays dedicated in its sustainability efforts.

For more information on Rohan Builders, please visit rohanbuilders.com.

Helping early-stage startups scale their businesses on the back of a strong customer retention and engagement strategy, full stack Retention Consultancy WebEngage, today announced that applications are open for their next cohort-based Startup Program REV. Through this cohort, WebEngage will be giving 30 promising startups free access to their world-class AI-powered, CDP and analytics dashboard with credits worth USD 25,000, a dedicated consulting team, and extended benefits via strategic partnerships with VCs, Ecosystem partners and Community partners.
 

WebEngage launches REV by WebEngage Startup Program for early-stage startups
 

Early-stage startups, either bootstrapped to Series A, in the space of D2C, ECommerce, FinTech, EdTech, HealthTech, Gaming, Marketplaces and other consumer-first startups, are eligible to apply.

95% of startups fail because they run out of cash. One of the many reasons behind the burn is the rising cost of Customer Acquisition. Reports suggest that Customer Retention is 5x cheaper than acquisition channels. WebEngage has recently announced its gradual shift into a consulting-based approach where its customers are bound to achieve up to 10x ROI on their ROAS. WSP REV will select the top 30 promising startups to build sustainable businesses by implementing Retention-first strategies unique to their businesses through mentorship programs, workshops, networking and community building.

Started in 2021, the WebEngage Startup Program has benefited over 400+ early-stage startups to build their Retention and Customer Engagement strategies. Some portfolio startups have also gone to pick up funding while some have been featured on the covetous Shark Tank. A few startups from the WebEngage Startup Program portfolio include Perfora, P-TAL, House of X, 1% Club, Rang De, Vobble, Hexa Health, Dezerv, Wright Research etc.

Nitya Shah, Lead - WSP, WebEngage, said, "A strong Customer Retention strategy helps businesses with sustainable growth and is crucial for long-term success. Over the years, the WebEngage Startup Program has played a pivotal role for early-stage startups in building their engagement and retention strategies. We are very proud to have supported more than 400 businesses to grow through this program. In line with our mission to enable growth for the startup ecosystem, WSP is extremely happy to introduce partner benefits for the new cohort through its unique positioning REV - Retain, Engage, and Value Deliver. The top 30 selected startups will not only get state-of-the-art Retention Consulting from WebEngage but also benefit from our strategic partnerships such as Rize by RazorPay, The D2C Folks, GrowthX,  Pedalstart and many others, that will help the startups to REV UP towards growth.”
 

Program Highlights:

• Unlocking Expert Guidance from VCs: Network with top VCs, gain real-time one-on-one feedback and receive tailored mentorship to navigate the landscape of fundraising and open doors to new opportunities. 

• Six-Month Access to the WebEngage Platform: Selected startups will get unrestricted access to the WebEngage platform for 6 months, allowing them to leverage a full suite of tools, including the Customer Data Platform, Engagement Tool, and Personalization Engine.

• Dedicated Mentorship: Startups will gain insights from seasoned mentors, industry leaders, and WebEngage experts who bring a wealth of experience in customer retention and growth strategies.

• Tailored Masterclasses and Workshops: Regular sessions on unlocking growth & GTM, personalised marketing, pitch deck teardowns, prepping up for funding and more, led by thought leaders and WSP partners will help startups build a solid foundation through best practices in retention.

• Networking and Community Building: REV offers startups the chance to connect with a diverse network of founders, investors, potential partners, and gain visibility in the ecosystem by fostering collaborations and growth opportunities.

• Access to Curated Tech and Growth deals: Leverage significant discounts and credits on essential tech and growth services, from cloud hosting to analytics and marketing tools. Reduce overhead costs and free up budget for product development or customer acquisition.

The application deadline for REV by WebEngage Startup Program is 22nd September 2024 and the cohort will run for six months from October 1, 2024, to March 31, 2025. For more information about REV by WebEngage Startup Program and to apply, please visit REV By WebEngage Startup Program.

About WebEngage

WebEngage helps consumer brands engage and retain their customers towards higher lifetime value and marketing ROI. The product stack includes a robust customer data and analytics platform - unifying data across silos, the best-in-class engagement layer with a multi-channel journey builder and a personalization engine that helps boost conversion for all channels including the web and mobile apps.

Ranked #1 consistently across all review platforms on ease of use and comprehensiveness of the platform, WebEngage is used by 800+ brands across India, the Middle East Africa, Latin America and Southeast Asian markets. The roster across  E-Commerce & Travel,  Edtech, BFSI & Fintech industries includes brands like IKEA, Unilever, Walmart, Myntra, Unacademy, Pepperfry, GoIbibo, Adan One, PFI Mega Life, PasarPolis, Wego, Groww, Acko, Blackberrys among others.

Marwari Catalysts portfolio, InsurancePadosi secures funding

InsurancePadosi, founded by Vaibhav Kathju, Abhay Singh, and Gaurav Gupta, is committed to democratizing access to insurance by simplifying complex processes, enhancing transparency, and delivering a seamless digital experience. The platform aims to address the critical gaps in insurance penetration across India, making insurance not just a product but a service accessible to millions.

The capital infusion will enable InsurancePadosi to enhance its technology stack, scale operations, and expand its product offerings to cater to the diverse insurance needs of the Indian population. This funding round is not just a financial milestone but a validation of the company’s strategic direction and its potential to redefine how insurance is perceived and consumed in India.

Sushil Sharma, Founder & CEO of MCats, emphasized the significance of this funding round, stating, “InsurancePadosi embodies the kind of innovation and social impact that MCats strives to support. Their approach to redefining the insurance experience in India is both visionary and pragmatic.”

The Founder of InsurancePadosi, Vaibhav Kathju expressed gratitude for the unwavering support from their investors. “Securing this funding is a significant validation of our mission to democratize insurance. We are dedicated to leveraging these resources to scale our impact and deliver unparalleled value to our users,” he remarked.

This funding round highlights the increasing importance of insurtech in the broader fintech ecosystem and positions InsurancePadosi as a key player in driving innovation within the sector. As the company advances, it is poised to play a critical role in expanding insurance accessibility and affordability across India, contributing to the broader financial inclusion agenda. 

About InsurancePadosi

InsurancePadosi is an insurtech platform at the forefront of reshaping the insurance sector in India. By leveraging cutting-edge technology, the platform simplifies the insurance process, making it more transparent, user-friendly, and accessible to the masses. Founded by Vaibhav Kathju, Abhay Singh, and Gaurav Gupta, InsurancePadosi is dedicated to creating a more inclusive and equitable insurance landscape in India.

About Marwari Catalysts

MCats is a leading startup accelerator, committed to fostering innovation and growth within the entrepreneurial ecosystem. With a focus on high-impact ventures, MCats with a 90+ portfolio companies and 200+ Co-founders club is making significant changes.