Funding

SolarSquare raises $40 million in series B funding from Lightspeed

Company plans to use the funding to expand its operations, hire talent, and for brand building

Canadian pension fund arm co-leads $180 mn investment in India's Mintifi

A Canadian pension fund arm on Tuesday announced that it has co-led in a USD 180 million funding round in Indian supply chain finance platform Mintifi. Ontario Teachers' Pension Plan's arm Teachers' Venture Growth and South Africa's Prosus have co-led the Series E investment into the city-based Mintifi, as per a statement. Premji Invest also participated in the funding round, which includes both primary and secondary transactions, the statement said. Canadian investors, especially pension funds, have been present in India for many years and have backed a slew of entities and projects for handsome returns. The fresh funding will deepen the company's presence across key sectors and consolidate its market leadership in the downstream supply chain financing space, it said. The company, which works with entities such as Asian Paints, Varun Beverages, Parle Products, Honda, Shree Cement, TVS and Castrol, will use the funds to expand on its new offerings, including dealer management syst

Mintifi raises $180 mn in Series E from TVG, Prosus, and Premji Invest

The company works with over 300 brands in India, including Asian Paints, Varun Beverages, Parle Products, Honda, and Shree Cement, among others

Antler India plans to invest around Rs 211 crore in 50 startups in 2025

Venture capital firm Antler India is planning to invest USD 25 million, or about Rs 211 crore, in 50 startups in 2025, the company said on Wednesday. The venture capital firm has invested in 30 startups in 2024 through its maiden USD 75 million fund. "Antler plans to ramp up investments further in the next year and make 50 investments in 2025. We plan to invest USD 25 million in the 50 companies," Antler India Partner Rajiv Srivatsa told PTI. The company's 2024 investments include a wholesale marketplace for fashion retail Bizup, aluminium-air fuel cell technology company Meine Electric, open mobility platform Namma Yatri, personal loan facilitator firm Keeper, which uses paid leaves as digital assets for salaried employees, AI-powered dashcam provider Cautio, etc. "Our investment pace reflects both the quality of the founders we're meeting and our conviction that the next wave of global technology companies will emerge from India. We have invested in 30 companies this year, many o

Lectrix EV plans to raise $100 million to fund next phase of growth

Lectrix EV, the e-mobility arm of SAR Group, plans to raise around USD 100 million (over Rs 800 crore) from external sources next year to fund its next phase of growth, according to founder Rakesh Malhotra. The company has invested around Rs 300 crore in the business from internal accruals so far. "I would say we are within 12 months from raising a sizable round of capital (outside)," Malhotra told PTI in an interaction. When asked to elaborate, he noted that the company could raise around USD 100 million. "By the time we raise capital, we would have put in 50 million of our own capital. So the next round has to be in the in a size which is meaningful and can keep us going for another year or two," Malhotra said. The raised capital would go into developing the business across the country, he stated. The company plans to invest the capital to enhance the dealership network and set up swapping infrastructure in about 100 cities, Malhotra said. "We are at about 200 (dealerships) to

After a prolonged winter, Indian edtech sector shows signs of recovery

Funding in the sector has increased by 153 per cent year-on-year (Y-o-Y), reaching $608.8 million across 68 deals in 2024 so far

Quick commerce major Zepto is India's most funded startup in 3 years

IPO-bound company has raised $1.35 billion in 2024

Insurtech firm Zopper raises $25 mn in to ramp up its digital infra

The funds will also accelerate growth in the firm's current bancassurance offerings and enhance its post sales and servicing capabilities for Zopper's device and appliance protection businesses

Alpha Alternatives raises Rs 3,800 cr for first close of maiden infra fund

The category II AIF will invest in road assets across India

Sirius India Airlines looks to raise $100 million for services expansion

Air charter services operator Sirius India Airlines has said it looks to raise USD 100 million through debt and other instruments for fleet and services expansion as it sees demand soaring from across segments. The company said it is aiming to have a fleet of 50 private jets by financial year 2027 and spread its wings to other markets such as the Far East, Southeast Asia and East Africa as part of the long-term business plan. The proposed funds are expected to be tied-up by March next year so that the plan starts getting implemented from FY26, Sirius India Airlines founder and promoter Arun Kashyap said. The Gurugram-based aviation venture launched its air charter services in collaboration with Dubai-based Transworld Group in August this year. "We are aiming to secure USD 100 million capital by this fiscal and have already started the process to do so. We are looking at these funds both by way of debt as well as from strategic investors and are in discussions with a bunch of lender

Zepto to raise $300 mn, doubling initial target amid quick commerce battle

The funding round, oversubscribed by prominent investors, will include top Indian family offices and ultra-high net worth individuals

Razorpay launches venture investment programme in partnership with VCs

Early-stage ventures could see potential fundraising of up to $1 million as part of the programme

Edtech platform Bhanzu secures $16.5 mn for US expansion and global growth

The company has reported 8 times growth since its last funding round two years ago. It is now cash-flow positive, with expansion plans focused on the US market

QubeHealth secures funding for Pre-Series-A, eyes Rs 270 crore valuation

The funds will enhance QubeHealth's technology and introduce embedded insurance, an AI-driven recommendation engine, and a healthcare marketplace

Govt to decide on RINL funding next month after viability report

The Centre is awaiting a technical viability report, due November, from a UK-based consulting firm

Good Glamm Group acquires Sirona Hygiene for Rs 450 cr in all-cash deal

This marks one of the largest cash exits for a direct-to-consumer startup in the women's health and well-being space

Refex Industries plans to raise Rs 928 cr via preferential issue of equity

Chennai-based Refex Industries Ltd on Thursday said it is planning to raise Rs 927.81 crore via preferential issue of equity and convertible warrants for investment in subsidiary companies, loan repayment and capex, among others. The funding is proposed at an opportune time as Refex continues to innovate in logistics for ash management, addressing environmental challenges associated with thermal power plant operations, the company said. Refex has a presence across sectors such as ash and coal handling and electric vehicle mobility. "Refex proposes to raise funds to the tune of Rs 927.81 crore, by way of preferential issue of equity and convertible warrants, to certain investors, under 'promoter' and 'non-promoter' category," the company said in a statement. Outlining the proposed fundraise plan, the company said of the total issue size of Rs 927.81 crore, Rs 530 crore are to be mopped up from high-net-worth individuals (HNIs) and family offices. It further said the promoter group

OpenAI secures $6.6 bn funding, emerges as one of world's most valued firms

OpenAI has raised $6.6 billion from key investors like Microsoft, Nvidia, and Thrive Capital. Tech giant Apple didn't participate in this round

Indian startup funding dips 7% to $7.6 billion in first nine months of 2024

Funding rounds declined to 1,036 from 1,579 during the same period, according to data from market intelligence platform Tracxn's India Tech 9M 2024 report

Pepsales raises $1.1 million in a round led by Chiratae Ventures

The firm said it is targeting the global enterprise application software market, which has an estimated annual sales and marketing expense exceeding $190 billion