Page 4 - Funding

India's venture capital funding rises 43% to $13.7 billion in 2024

India's Venture Capital (VC) ecosystem exhibited robust growth in 2024, with funding surging 43 per cent year-on-year to USD 13.7 billion, according to a report. This recovery was fuelled by a 45 per cent rise in deal activity, with 1,270 transactions recorded, reinforcing India's position as the second largest market for venture capital and growth funding in the Asia-Pacific region, the report by Bain & Company and IVCA said. "Small- and medium-ticket deals (< USD 50 million), which made up around 95 per cent of the deals, increased by 1.4x, whereas USD 50 million+ deals nearly doubled, rebounding to pre-pandemic levels as high-quality assets attracted deployments. Megadeals (USD 100 million+) also rebounded with 1.6x increase in volumes as investors backed high-quality companies that successfully weathered the two-year funding winter," it said. The report noted that the consumer technology, software and SaaS (including generative AI), and fintech sectors attracted over 60 per

Wipro to invest $200 mn in Wipro Ventures to accelerate startups funding

IT major Wipro on Wednesday said it will invest USD 200 million (about Rs 1,740 crore) in its arm Wipro Ventures to accelerate its funding for startups in the technology innovation space. This marks the fourth funding round for Wipro Ventures since it began operations ten years ago, and is aimed at speeding up investments in startups at the early to mid-stage level, a company statement said. "This latest investment reaffirms our commitment to helping startups grow faster, innovate, and collaborate with the IT services industry to support large enterprises. We envision a collaborative ecosystem, where these emerging technologies can be deployed globally, drive progress, and create sustainable value for all stakeholders involved," Wipro CEO and MD Srini Pallia said. Established in 2015, Wipro Ventures focuses on identifying and investing in promising early-stage startups that drive technological innovation. The Wipro Ventures team connects Wipro and its clients to a global ecosystem o

India may miss key climate goal of 500-GW RE capacity by 2030: Report

India may fail to achieve its target of deploying 500 gigawatts (GW) of renewable energy capacity by 2030 if the annual funding does not increase by 20 per cent from the current levels, a new report warns. The report prepared by global energy think tank Ember said project-commissioning delays and uncertainties related to new age "Firm and Dispatchable Renewable Energy" (FDRE) projects could raise the cost of capital by up to 400 basis points. Delays in project commissioning have been caused by land-acquisition issues, grid connectivity delays and delays in signing power purchase agreements (PPAs), it said. According to the report, a 400 basis points increase in financing costs could result in India falling short of its 500-GW renewable energy target by up to 100 GW. A higher cost of capital would also increase electricity costs for consumers, it said. Investments in renewable power generation and transmission in the financial year 2024 were estimated at USD 13.3 billion, a 40-per

Geniemode raises over $50 million in Series C round led by Multiples

The investment is aimed at fuelling its global expansion and enhancing its technology-driven supply chain solutions, the company said

CapitaLand India Trust to invest Rs 1k cr in Maia Group's Bengaluru project

Singapore-based CapitaLand India Trust (CLINT) will provide around Rs 1,000 crore fund in a commercial project being developed by Maia Group in Bengaluru. In a statement on Friday, CLINT said it has "entered into a forward purchase agreement with Maia Estates Offices Pvt Ltd to acquire an office project at Nagawara, Outer Ring Road (ORR), Bengaluru". Maia Estates Offices is an affiliate of Bengaluru-based luxury residential developer Maia Group. Sitting on a land parcel of about 4.6 acres, the office complex is part of a mixed-used development with a total net leasable area of approximately 1.36 million sq ft. The mixed-use development is a flagship commercial project of Maia, comprising office and retail space with net leasable areas of 1.13 million sq ft and 0.22 million sq ft respectively. "As part of the forward purchase arrangement, CLINT will fully fund the development of the office project and receive interest on the funding at a rate which is higher than its borrowing cost

Spyne raises $16 million Series A to drive US expansion, AI innovation

This investment will fuel Spyne's growth trajectory, focusing on aggressive expansion in the US and developing its next-generation AI solutions designed to transform automotive retail

SpotDraft raises $54 mn to lead AI-powered contract lifecycle management

SpotDraft's Series B funding round, spearheaded by Vertex Ventures and Trident Partners, will accelerate the company's global expansion and drive the advancement of its AI-powered product innovation

Atomicwork raises $25 mn to transform enterprise IT with Agentic AI

The Series A funding will fuel the scaling of enterprise AI agents, expand go-to-market (GTM) efforts, and enhance platform integrations for seamless scalability

Mouth freshener brand JoySpoon's funding round reaches Rs 1.81 crore

Founded by husband-and-wife duo Vaishali Mehta and Yash Mehta, JoySpoon is tapping an industry expected to grow to Rs 27,491 crore by 2028

Edtech firm BrightChamps acquires Edjust in a cash-and-stock deal

The firm said the acquisition is a strategy to enforce stricter standards and an industry-first model code of customer acquisition

Bank of Maharashtra eyes QIP of Rs 2,500 cr in FY26 to support biz growth

Reduce GOI stake, support business growth

Accel, Binny Bansal, Majety back flying taxi venture Sarla Aviation

As urbanisation accelerates and traffic congestion worsens in Indian cities, Sarla envisions a future where Indians can bypass road-bound infrastructure and seamlessly live, work, and thrive

EET Fuels secures $350 million funding for decarbonisation plans

EET Fuel, the trading name of Essar Oil (UK) Ltd, on Tuesday announced securing USD 350 million finance as investors reposed confidence in its decarbonisation strategy and market positioning. The firm secured USD 350 million through a combination of new financing by African Export-Import Bank (Afreximbank) and upsizing extension of existing crude facility, it said in a statement. EET Fuels, which owns and operates the UK's Stanlow refinery, is investing USD 1.2 billion over the next five years to decarbonise its operations and targeting a 95 per cent cut in emissions by 2030 through energy efficiency, carbon capture and fuel switching. The new facilities secured are USD 150 million from Afreximbank - the Pan-African multilateral financial institution mandated to finance and promote intra-and extra-African trade - and upsizing of the previously reported USD 300 million trade credit financing facility with an international oil company to USD 500 million. "The company has agreed USD 3

From backseat to driver's seat, rights issues take the wheel in 2024

From coasting to leading, they seize control of fundraising road in 2024

DPIIT partners with Stride Ventures to help startups in funding, mentorship

The Department for Promotion of Industry and Internal Trade (DPIIT) on Saturday said it has joined hands with venture debt firm Stride Ventures to support high growth potential startups in their funding requirements. It said this collaboration will be instrumental in creating enormous opportunities for startups by integrating financial support with strategic mentorship and market access. Highlighting the macroeconomic impact of this collaboration, Joint Secretary in DPIIT Sanjiv said Stride Ventures will curate dedicated programmes and collaborate on engagements like the Bharat Grand Challenge to promote entrepreneurship, innovation, and investment. Ishpreet Singh Gandhi, Founder and Managing Partner, Stride Ventures, said "this partnership, coupled with our billion-dollar commitment to nurturing startups, reaffirms our resolve to strengthen India's startup ecosystem". The department said Stride Ventures will give thrust "on identifying startups with high growth potential, offering

Stock market researcher Univest raises $10 mn from Bertelsmann India

SEBI-registered stock market research platform Univest has raised USD 10 million (about Rs 85 crore) in a funding round led by Bertelsmann India Investments (BII). The funds will be deployed towards scaling the Gurgaon-headquartered firm's offerings, while maintaining a focus on delivering personalised user experience, Univest co-founder and CEO Pranit Arora said. "With this funding round, we are excited to accelerate our mission to democratise access to high-quality research. The funds will enable us to scale our research-first, full-stack brokerage offering, creating India's first true stock market superapp for retail investors. Our focus will remain on delivering seamless, personalised, and actionable insights that simplify the investment journey for our users," he said. Univest provides expert trading advice across stocks, derivatives, and commodities. Investor users receive entry and exit signals from SEBI-registered analysts, during Live market hours, ensuring timely and ...

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