Spacewood Secures ₹300 Cr from A91 Partners to Accelerate Modular Furniture Expansion

Spacewood Furnishers Pvt. Ltd. (“Spacewood”), India’s leading modular furniture manufacturer and brand, has raised ₹300 crore in funding from A91 Partners, a marquee private equity firm focused on building consumer and growth-stage businesses in India.

The investment gives A91 Partners a significant minority stake in Spacewood and will fuel the company’s next phase of expansion, brand-building, and operational strengthening.

Speaking on the development, Mr. Kirit Joshi, Co-founder and Director, Spacewood, said: “We are excited to have A91 Partners on board. Beyond capital, they bring deep experience in scaling consumer brands, which will be invaluable as we embark on our next growth phase.”

Adding his perspective on the investment, Mr. Abhay Pandey, Partner at A91 Partners, said, “We are looking forward to the opportunity to partner with Kirit, Vivek, and Nitin in further building a dominant company in the large and growing market of home and office improvement.”

Founded in 1996 by Mr. Kirit Joshi and Mr. Vivek Deshpande, Spacewood has established itself as one of the most trusted names in India’s organised furniture sector. In 2011, Mr. Nitin Sudame joined as the founder of Spacewood Office Solutions (SOS), leading the company’s expansion into the office furniture segment.

With a focus on design innovation, durability, and craftsmanship, Spacewood has built a strong reputation as a full-home modular solutions provider.

For FY26 (estimated), the company expects to achieve group revenues of approximately ₹700 crore. With A91 Partners’ backing, Spacewood aims to accelerate its revenue trajectory, targeting 25–30% annual growth over the next five years with a focus on profitability. The funding will support technology upgrades, process automation, and talent acquisition to strengthen its operations and retail presence.

Spacewood operates one of India’s largest integrated furniture manufacturing facilities, spanning over 1 million sq. ft. and equipped with state-of-the-art panel and sheet metal processing technologies. Its diverse product portfolio covers modular kitchens, wardrobes, home furniture, pre-hung doors, and office furniture under the SOS brand.

Currently, Spacewood has 35+ exclusive stores across 20+ cities and a dealer network of 500+ partners in 150 towns and cities. It plans to expand to 100 stores nationwide in the next few years, further strengthening its omnichannel presence through platforms such as Amazon and Pepperfry.

Its enterprise business serves India’s largest corporates and real estate developers. The Spacewood Office Solutions division has delivered workplace solutions for more than 1000+ corporates with leading names such as Accenture, Capgemini, HDFC, and Adani Group. Besides, it works with leading educational institutions for their furniture. “We plan to expand to Tier 2 cities in the coming years,” said Nitin Sudame.

Meanwhile, its Sumai Doors division partners with 200 + developers in India with leading names such as Godrej Properties, DLF, Lodha, M3M, Kolte Patil, and more, reinforcing its credibility in the B2B space.

With this investment, Spacewood will continue to strengthen its leadership in the mass-premium and premium furniture categories, catering to design-conscious consumers seeking modern, functional, and aesthetic living solutions

Lighthouse Canton Secures $40 Mn in Strategic Funding Led by Peak XV Partners to Power Its Next Phase of Growth

Global investment institution, Lighthouse Canton, today announces a USD 40 million strategic investment round led by Peak XV Partners, with participation from Nextinfinity (investment holding company of Shyam Maheshwari - Founding Partner of SSG Capital, later Ares SSG). Qatar Insurance Company (QIC), an early investor in the company, continues to support its growth.

Founded in 2014, Lighthouse Canton has grown organically managing over USD 5 billion in assets across Singapore, India, the UAE, and the United Kingdom. Over the past decade, the company has built a reputation for disciplined investment management and a client-first approach that has made it a trusted partner for entrepreneurs, families, and institutions across regions.

This is Lighthouse Canton’s first external fundraise, undertaken to accelerate the next phase of its growth journey. The capital will be deployed to enhance technology infrastructure, attract senior talent, expand its product capabilities, and pursue geographic growth opportunities across high-potential markets.

“This is a defining milestone for us,” said Shilpi Chowdhary, Group CEO of Lighthouse Canton. “We have built Lighthouse Canton with an institutional mindset independently. For more than ten years we have been guided by a long-term vision of creating a world-class investment platform. With Peak XV and our strategic partners, we are deepening our capabilities, institutionalizing further, and positioning ourselves for the next decade of growth.”

Lighthouse Canton’s wealth management business provides personalized, family, wealth and business solutions for high-net-worth individuals, entrepreneurs, and family offices, while its asset management arm offers institutional-grade strategies across public and private markets. Lighthouse Canton’s strong regional presence and focus on disciplined execution have enabled it to serve clients across complex cross-border environments with agility and trust.

This strategic funding marks a new chapter in Lighthouse Canton’s journey and one that focuses on scale, innovation, and institutional depth, while continuing to deliver exceptional value to clients.

About Lighthouse Canton

Lighthouse Canton is a global investment institution with wealth and asset management capabilities. We employ over 200 experienced professionals across our offices in Singapore, Dubai, India, and London, and currently oversee over US$ 5 bn worth of assets under management and advisory. Lighthouse Canton creates value through innovative investment solutions for accredited private clients, institutional investors, and an ecosystem of founders and entrepreneurs globally.

Lighthouse Canton’s Asset Management business comprises strong internal product capabilities in hedge funds, private equity, traditional fundamental analysis, investing through multiple strategies in real estate private equity, private credit, venture capital, growth debt, public equities, and global macros.

Its Wealth Management business caters to accredited investors including corporates, ultra-high net worth individuals, families and family offices, founders, and entrepreneurs, to help with their personal and business investments, estates, and philanthropic needs, providing them tailored investment advisory, portfolio management, treasury, business & family office solutions.

Lighthouse Canton Pte Ltd is regulated by the Monetary Authority of Singapore (“MAS”). Lighthouse Canton Capital (DIFC) Pte Ltd is regulated by the Dubai Financial Services Authority (“DFSA”). LC Capital India Pte Ltd is regulated by Securities and Exchange Board of India (“SEBI”). Lighthouse Canton UK Limited is regulated by Financial Conduct Authority (“FCA”)

For more information visit www.lighthouse-canton.com

About Peak XV

Peak XV Partners (formerly Sequoia Capital India & SEA) is a leading venture capital firm investing across India, Southeast Asia and beyond. Over the last 19 years of operations in the region, Peak XV has grown to manage approximately USD 9 billion in capital across 13 funds and invested in over 400 companies.

The portfolio has seen 31 IPOs and several successful M&As till date.

To know more, please visit: www.peakxv.com

Lenskart Raises ₹3,268 Crore from Anchor Investors Ahead of ₹21,500 Million IPO

• Bid /Offer Opening Date – Friday, October 31, 2025, and Bid/ Offer Closing Date –Tuesday, November 04, 2025
• Price Band fixed at ₹ 382 per equity share of face value ₹2 each to ₹ 402 per equity share of the face value of ₹2 each (“Equity Shares”) of Lenskart Solutions Limited (the “Company”)
• Bids can be made for a minimum of 37 Equity Shares and in multiples of 37 Equity Shares thereafter
• Anchor link

Lenskart Solutions Limited, one of India’s largest omni-channel eyewear retailers, offering a wide range of affordable and fashionable prescription eyeglasses, sunglasses, and contact lenses through its online platform and extensive retail network, has allotted 8,13,02,412 equity shares to anchor investors, comprising marquee domestic and global institutional investors, and raised ₹3,268.36 crore ahead of the Company’s proposed IPO at the upper end of the price band at ₹402 per equity share (face value ₹2 per share).

Out of the total allocation of 8.13 crore equity shares to anchor investors, 2.87 crore equity shares (35.34%) were allocated to 21 domestic mutual funds through a total of 59 schemes.

The anchor book has received widespread participation from domestic institutional investors including leading mutual funds such as SBI Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Kotak Mutual Fund, Axis Mutual Fund, Aditya Birla Sun Life Mutual Fund, Mirae Asset, DSP Mutual Fund, Franklin India, HSBC MF, WhiteOak Capital, Edelweiss, Bandhan, and Canara Robeco, and insurance companies such as SBI Life Insurance, HDFC Life Insurance, ICICI Prudential Life Insurance, Bajaj Allianz Life Insurance, Kotak Mahindra Life Insurance, Axis Max Life, Reliance Nippon Life Insurance, and Tata AIA Life Insurance.

Global interest was equally notable with very strong demand from sovereign and long-only FIIs such as the Government of Singapore, Monetary Authority of Singapore, Government Pension Fund Global (Norway), New World Fund Inc, Fidelity, T. Rowe Price, BlackRock, Capital Group, Goldman Sachs, Nomura, Amundi, JP Morgan and Wellington Management Company LLP, among others.

The offer comprises a fresh issue of equity shares aggregating up to ₹21,500 million (the “fresh issue”) and an offer for sale of up to 127,562,573 equity shares by certain existing shareholders, including Peyush Bansal, Neha Bansal, Amit Chaudhary and Sumeet Kapahi (“Promoter Selling Shareholders”) and SVF II Lightbulb (Cayman) Limited, Schroders Capital Private Equity Asia Mauritius Limited, PI Opportunities Fund – II, MacRitchie Investments Pte. Ltd., Kedaara Capital Fund II LLP, and Alpha Wave Ventures LP (“Investor Selling Shareholders”). The Offer comprises of an Employee Reservation Portion aggregating up to ₹150 million with the balance offer size being called as the “Net Offer”.

The company plans to utilise the net proceeds from the IPO for setting up new company-owned, company-operated (CoCo) stores in India, lease and rental payments, technology and cloud infrastructure, brand marketing, inorganic acquisitions, and general corporate purposes.

Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited, Avendus Capital Private Limited, Citigroup Global Markets India Private Limited, Axis Capital Limited, and Intensive Fiscal Services Private Limited are the Book Running Lead Managers (“BRLMs”) to the issue.

IGRPL, An IndianOil-GPS JV, Raises ₹836 Cr in Landmark CBG Financing Deal

IOC GPS Renewables Private Limited (IGRPL), a joint venture between IndianOil Corporation Ltd. (IndianOil) and GPS Renewables, focused on advancing India’s biofuels sector, has raised INR 836 crore (approximately USD 95 million) in debt financing from Indian Bank for the execution of 9 Compressed Biogas Projects across the country. The facility agreements were executed on 30th September in New Delhi between Indian Bank and IGRPL, represented by its CEO, Devendra Singh Sehgal, and CFO, Punit Jain.

This funding is the largest single-bank debt raise in the Compressed Biogas sector (CBG) (also referred to as Renewable Natural Gas or RNG). This is also the first case of a fully non-recourse debt raise in this sector.

The funds will be used towards development of CBG plants across India, with 4 projects in Haryana, 3 in Uttar Pradesh, 1 in Chhattisgarh and 1 in Andhra Pradesh. Each plant has a capacity to produce 15 tonnes of CBG per day and will use paddy straw as the primary feedstock. All 9 plants are expected to be completed and commissioned in 2026.

Commenting on the fundraise, Devendra Singh Sehgal, CEO, IGRPL (IOC and GPS Renewables Private Limited), said, “IGRPL was formed with an aim to scale India’s biogas infrastructure and drive wider adoption. This funding gives us the momentum to accelerate that mission. This is the first time that an OMC Joint Venture has secured a sanctioned loan for CBG projects without any corporate collateral, indicating IOCL’s strong credibility and the sector’s massive potential. This not only builds confidence among stakeholders but also encourages more large-scale investments in India’s clean energy sector”

Deepak Agarwal, MD, of GPSR ARYA (GPS Renewables’ asset platform), said, “Securing the largest single-bank funding in the CBG sector underscores the scale of the opportunity that exists. As the country makes significant strides towards a clean energy transition, our vision is to drive biofuel production and position India as a leading producer of renewable energy. This fundraise is a pivotal step in IGRPL’s journey as it enables us to execute our ambitious plan of building a nationwide network of CBG plants to significantly reduce our dependence on fossil fuels and lower greenhouse gas emissions.”

About IGRPL

IGRPL is a 50:50 Joint Venture by IndianOil and GPS Renewables Arya established in 2024. The joint venture will focus on integrating advanced biogas technologies to convert organic waste into Compressed Biogas (CBG), a cleaner and renewable energy source. This will significantly reduce greenhouse gas emissions while providing a sustainable alternative to traditional fossil fuels. By leveraging their combined expertise, IndianOil and GPS Renewables aim to accelerate the deployment of CBG plants nationwide. These initiatives complement IndianOil’s long-term low-carbon development strategy and to achieve operational net zero by 2046, which will also help achieve net-zero target by 2070 for our Country. CBG offers numerous benefits to India and the environment. For the country, it promotes energy security by reducing dependence on imported fossil fuels and supports the rural economy by creating local employment opportunities.

About IndianOil

IndianOil, a leader in the global energy sector and ranked 116th on the Fortune Global 500 list, is driving India's transition to cleaner and greener energy with a strong focus on sustainability. The company has set an ambitious target of achieving operational Net-Zero Emissions by 2046, aligning with India's national goal of Net-Zero by 2070. Alongside its green energy focus, IndianOil remains a major player in the oil and gas industry, operating a refining capacity of 70.25 million metric tonnes per annum (MMTPA) and an extensive pipeline network stretching nearly 20,000 kilometers. IndianOil processes over 1.6 million barrels of crude oil daily and operates more than 61,000 customer touchpoints, including 37,500+ fuel stations. The company also serves over 150 million LPG customers and is a leader in the petrochemicals and lubricants segments. At the forefront of hydrogen mobility,biofuels, and electric vehicle infrastructure, IndianOil has installed over 10,028 EV charging stations across India, along with battery swapping services at key locations. As a promoter of the Government's SATAT initiative, IndianOil is advancing Compressed Biogas (CBG) under its "IndiGreen" brand. Additionally, the company has expanded its ethanol initiatives, launching E20 fuel at more than 5,700 outlets and Ethanol 100 fuel at 400 locations. IndianOil’s innovative solar cooktop, ‘Surya Nutan,’ is further proof of its commitment to clean energy, with plans to deploy 350 units in Madhya Pradesh. Beyond its core businesses, IndianOil remains dedicated to environmental sustainability, investing over Rs 457 crore in CSR projects focused on healthcare, education, skill development, and women empowerment. As IndianOil leads the charge towards a greener future, it continues to power the nation’s progress while expanding its presence in international

About GPSR (GPS Renewables) Group

Headquartered in Bengaluru, GPS Renewables (“GPSR”) is a full-stack biofuels firm offering technology and project solutions for climate-positive biofuel projects. Starting from captive biogas plants, GPSR has scaled up to set up some of the world’s largest RNG plants. In 2022, GPS Renewables launched GPSR Arya Pvt Ltd (“ARYA”) a wholly-owned subsidiary, to commission BOO (Build-Own-Operate) projects, augmenting its climate impact ambitions.

GPSR has formed joint ventures with Indian Oil, Bharat Petroleum, and Oil India to build compressed biogas (CBG) plants across India. These plants will process agricultural and organic waste, reduce carbon emissions, and support the government’s SATAT initiative.

P•TAL Closes $3M Series A to Expand Heritage Metalware Brand Worldwide; Connecticut Innovations Makes First India Bet

• The round was led by VC Grid and Rainmatter by Nithin Kamath.
• P•TAL generates over 55% of its business from global markets and is actively expanding its presence.

P•TAL (Punjab Thathera Art Legacy), India’s handcrafted copper, brass, and bronze brand blending heritage with modern lifestyle, has raised USD 3 million in its Series A round to bolster its presence in India and accelerate growth across global markets. The round was led by VC Grid, bringing together a powerful community of family offices and accomplished founders, including Ekamya Ventures, the Salarpuria Group, LNB Group and several other marquee backers and Rainmatter, the fund backed by Nithin Kamath of Zerodha.

Connecticut Innovations, the US-based venture firm, also participated, marking its first investment in an Indian company. The round saw participation from Anicut Capital, Zero Pearl VC, Jaipur Rugs Family Office, Ramakant Sharma (Livspace), Sanjay Kapoor (Genesis Luxury by Reliance), Avnish Anand (Caratlane), Shibam Das (Atomberg), and Dr Ritesh Malik (Innov8).

P•TAL’s exports to the US, UK, Europe, and the Middle East account for more than 55% of its total business. The brand now aims to deepen expansion across these regions, driven by growing demand for sustainable, wellness-focused lifestyle products. Over the next three to five years, its international business is projected to contribute over 75% of overall revenue. Investments will be directed towards product innovation, technology-led supply chain efficiencies, and empowering artisan communities in India.

On the funding announcement, Aditya Agrawal, Co-founder and CEO of P•TAL said “This fundraise is not just capital; it means something deeper for us. It’s a partnership with visionary investors, who believe as deeply as we do in the revival of beauty and the benefits of traditional metals like brass, copper and bronze and their place in the global homes and kitchens. We stand at the intersection of timeless heritage and modern utility, and this partnership fuels our mission to take P•TAL from the homes of India’s artisans to households across the world. With this backing, we are poised to scale globally, reimagining what ‘Made in India’ means: craft that carries soul, design that speaks the future, and products that are healthy and last generations. This is just the beginning, and together, we are building a brand that will make India proud on the world stage.”

“P•TAL is a rare blend of purpose and performance — rooted in a strong ethos while charting a disciplined growth trajectory. By reviving a centuries-old craft and empowering artisan communities, the founders are building a brand with global resonance. At VC Grid, we are excited to back founders who combine clarity of vision with deep purpose, and with this growth capital, we believe P•TAL is poised to become both a household name and a global ambassador of Indian craftsmanship and conscious living.” said Vansh Oberoi, Founder & Managing Partner, VC Grid

Speaking on the investment, Nithin Kamath, Founder & CEO, Zerodha said, “P•TAL has built an ecosystem that honours traditional craftsmanship by empowering artisan families. It is remarkable that these artisans have increased their earning potential from about Rs 2,500 to Rs 60,000, with one of them even holding ESOPs in the company. With a majority of the revenue coming from outside India, it is encouraging to see Indian heritage crafts finding their place across the world.”

Building on its growing consumer traction, P•TAL also secured an all-sharks deal on Shark Tank India Season 3. This milestone spotlighted the brand’s vision and reinforced investor confidence in its potential to scale globally. The company’s revenues have climbed from ₹5 crore ARR to ₹50 crore ARR since its previous fundraise, underscoring the brand’s rapid scale-up. Today, P•TAL serves quality-conscious households and wellness enthusiasts globally, with 60% of international revenue coming from foreign buyers. The company is targeting ₹150 crore ARR within the next twelve months, aiming to cement its position as a profitable, sustainable luxury brand redefining Indian craftsmanship worldwide.

About P-TAL:

Launched as a student initiative at Shri Ram College of Commerce by Aditya Agrawal, Kirti Goel, and Gaurav Garg, P•TAL has evolved into a fast-scaling premium lifestyle brand. The company partners with 100+ artisan families, raising their monthly incomes from as little as ₹2,000 to over ₹60,000, while safeguarding a 500-year-old legacy. P•TAL’s flagship stores in Delhi—GK-1 and Vasant Kunj—are complemented by a digital presence on Shopify, Amazon, Instamart, Blinkit, and global marketplaces.

With its philosophy of “Artful Utility”, P•TAL is blending heritage, health, and design to build India’s first truly global heritage and lifestyle brand. Positioned at the intersection of wellness, sustainability, and conscious luxury, the company is primed to tap into a $1 billion premium kitchenware market in India and a $10 billion-plus global opportunity.

India’s First Prebiotic Soda Brand Misfits Attracts Strategic Investors in Seed Round

Misfits, India's pioneering prebiotic soda brand, today announced the successful completion of its seed funding round, raising an undisclosed amount from a consortium of prominent investors. The round was led by Nu Ventures, seasoned angel investor Subba Rao Telidevara, Turiya Advisory Services’ Managing Director Bijoy Daga; and renowned corporate finance and strategic investment consultant Robert Pancras.

Founded by brothers Aditya and Yash, Misfits has disrupted India's beverage industry by introducing the country's first prebiotic soda that combines bold taste with gut-friendly benefits. The brand's flagship product contains zero added sugar and are low in calories, positioning itself as a healthier alternative to traditional carbonated drinks.

The funding will be utilized to enhance production capabilities, expand distribution networks, and accelerate market penetration across India. Since its launch, Misfits has gained significant traction with consumers seeking functional beverages that deliver both taste and health benefits.

Left to right - Aditya Pai & Yash Pai(Co-founders of Misfits)

"We are thrilled to partner with investors who share our vision of revolutionizing India's beverage landscape," said Aditya Pai, Co-founder of Misfits. "This funding validates our mission to provide consumers with a guilt-free alternative to sugar-loaded sodas while supporting gut health through innovative prebiotic formulation."

Yash Pai, Co-founder of Misfits, added, "The investment will enable us to scale our operations and introduce new flavors while maintaining our commitment to clean-label ingredients and functional benefits. We're excited to build a brand that resonates with health-conscious consumers across India."

The funding round reflects growing investor confidence in India's functional beverage market, where consumers increasingly prioritize health benefits alongside taste preferences. Misfits' unique positioning as India's first prebiotic soda addresses this evolving consumer demand.

"Misfits represents exactly the kind of innovative brand that can transform traditional categories," said Venk Krishnan, Founder of Nu Ventures.

"The founders have identified a genuine market gap and developed a product that delivers authentic functional benefits while maintaining the taste profile consumers expect from carbonated beverages. Their approach to building a health-focused alternative in the soda category has tremendous potential for market disruption." said Subba Rao Telidevara, angel investor and former industry executive.

Misfits differentiates itself through plant-based ingredients, natural sweeteners, and zero preservatives, appealing to conscious consumers who value transparency and health benefits. The company's clean-label approach includes providing third-party lab reports, enabling informed consumer decision-making and building trust in the functional beverage space.

Founded by brothers Aditya and Yash, Misfits is India's first prebiotic soda brand committed to providing healthier alternatives to traditional carbonated beverages. The Mumbai-based startup combines functional ingredients with bold flavors to create products that support digestive health while delivering the taste experience consumers expect from premium sodas. With its clean-label approach and innovative formulation, Misfits is redefining what fizzy drinks can be in the Indian market.

SuperK Raises ₹100 Crore in Series B Led by Binny Bansal’s 3STATE Ventures; Shubman Gill Joins Investor Lineup

Value-first retail chain for small towns of India, SuperK has raised INR 100 crore in Series B round of funding led by Binny Bansal’s 3STATE Ventures and Mithun Sancheti. The round also saw star Indian batter and current Men's Test Captain Shubman Gill joining in, along with existing investors Blume Ventures and Xeed Ventures.

The funding will be used to significantly expand SuperK’s organizational capacity, hiring top talent across marketing, store operations, category, and growth functions, to accelerate the company’s ambitious expansion into newer towns and adjacent categories.

Grocery retail is a $600 billion market in India, with small towns (Tier-II and below) accounting for more than 80% of the spend. Yet, less than 5% of this vast market is currently served by organised retail. This presents a massive opportunity for trusted, tech-enabled formats that can scale efficiently in these underpenetrated regions.

SuperK aims to dominate this white space by creating a value-first supermarket chain, akin to Costco, but for small-town India, powered by local franchisees, proprietary technology, and a deeply loyal customer base. The company currently operates 130 stores across 80+ small towns in Andhra Pradesh, each following a franchisee format.

SuperK has developed indigenous POS machines with an in-house retail OS, a consumer-facing app, and a partner app to streamline daily operations at the store level. Technology is a key differentiator - SuperK is the only offline retailer in the country with full visibility into customer behavior, enabled by granular data collection at every purchase. This data allows the company to deliver personalized offers to each customer and incentivize franchisees for driving specific selling outcomes. SuperK’s Gold membership program has significantly improved profitability and strengthened customer loyalty, now contributing a meaningful share of overall sales.

What gives SuperK a unique right to win in this space is its ability to sell the same customers across many product categories through the same stores and supply chain, increasing wallet share while optimizing existing infrastructure. The company has recently expanded beyond groceries into e-commerce, offering value-conscious families access to everyday essentials such as mixers, cookers, fans, and coolers, all built on top of its existing tech and supply chain infrastructure.

Anil Thontepu, Co-founder of SuperK, said, “Over the last year, we quietly rebuilt our engine — from building our own POS and launching a consumer app, to introducing our flagship membership program, which now drives 75% of sales. With this new capital, we’re ready to take that engine to 300 more towns across AP, Telangana, and Karnataka, bring exceptional talent on board, and build India’s most efficient, value-first retail chain for small-town families.”

Neeraj Menta, Co-founder of SuperK, said “Binny and Mithun have built companies that changed the way India shops. Their decision to back SuperK is a clear signal that value-first, tech-enabled retail has the potential to go much deeper into Bharat. We’re excited to scale this with discipline and ambition.”

Binny Bansal, 3STATE, added, “SuperK is well-positioned to reimagine retail in deeper Bharat by empowering entrepreneurs from these towns to easily own and operate supermarkets. We’re excited to continue supporting their vision of offering a better grocery shopping experience to small-town customers and back SuperK in their next phase of growth.”

SuperK was founded in 2020 by Anil Thontepu and Neeraj Menta, two BITS Pilani batchmates, both second-time entrepreneurs. Anil led product and growth at Kaodim, Hike, and Phonepe. Neeraj co-founded Hungerbox and built products at Flipkart and Zeta (Directi).

Gupshup Raises $60 Mn to Scale AI Messaging Platform, Eyes IPO in India

Conversational AI leader Gupshup has raised over $60 million in a strategic mix of equity and debt funding, backed by Globespan Capital Partners and EvolutionX Debt Capital. The fresh capital will fuel Gupshup’s expansion across emerging markets and accelerate its push into enterprise-grade AI messaging solutions.

AI agents are transitioning from experimental tech to business-critical infrastructure,” said Beerud Sheth, Founder and CEO of Gupshup. This funding positions us to capture that global opportunity.

Expansion Strategy

The company plans to deploy the funds to:

• Scale its AI-driven messaging platform
• Accelerate go-to-market execution in India, the Middle East, Latin America, and Africa
• Deepen product innovation and enterprise adoption

Gupshup currently powers over 120 billion messages annually for 50,000+ businesses across 130 countries, with India contributing nearly 60% of its revenue. Its platform supports AI agents for marketing, commerce, and customer support, integrated across WhatsApp, voice, mobile apps, and websites.

Operational Streamlining

The company has also undergone significant restructuring, reducing its workforce from 1,500 to around 1,000 over the past two years. The move reflects a shift toward profitable growth, aligning with investor expectations and long-term sustainability.

IPO Ambitions

Gupshup is exploring a domicile shift to India ahead of a potential IPO within 18–24 months, citing strategic alignment with WhatsApp’s dominance in the region and stronger resonance with Indian investors.

"We’re evaluating a local listing to better align with our market footprint and simplify our growth narrative,” Sheth added.

Market Recognition

Gupshup was recently named Meta’s Partner of the Year, underscoring its deep integration with WhatsApp and its growing influence in conversational commerce.

Founded in 2004, Gupshup has evolved from an SMS-based platform into a global leader in conversational AI. Its enterprise-grade tools now span campaign automation, agent assistance, and AI-powered customer engagement.

ADIA Pumps $200 Mn into Meril, Valuing Indian MedTech Major at $6.6 Bn

In a big move in India’s MedTech space, the Abu Dhabi Investment Authority (ADIA) is investing USD 200 million for a ~3% stake in Meril, a leading medical devices firm based in Vapi, Gujarat. This values Meril at a whopping USD 6.6 billion.

Meril, founded by the Bilakhia Group, is known for its cutting-edge innovations in cardiovascular devices, surgical robotics, orthopaedics, and diagnostics. It exports to over 150 countries, employs 13,000+ people, and runs 12 global training academies. The company’s 100-acre campus is powered entirely by renewable energy—a nice touch of sustainability in high-tech healthcare.

This deal, pending approval from the Competition Commission of India, will see Meril backed by two global giants: ADIA and Warburg Pincus. It’s a strong signal of confidence in India’s growing medical manufacturing ecosystem.

With operations in 150+ countries across Asia, Europe, North America, South America, Africa, and Oceania, Meril has built a robust international presence, positioning itself as a key player in the global MedTech landscape.

Meril has 100-acre campus in Vapi, India, with vertically integrated R&D and manufacturing facilities.

GVFL Backs DCGPAC's Sustainable Packaging Push with ₹15 Crore Pre-Series A Investment

GVFL, India’s pioneering venture capital firm, has led a Rs. 15 crore pre-Series A round in DCG Tech Limited, a leading B2B platform for packaging, warehouse solutions, and procurement. GVFL has invested Rs. 10 crores in the round, while Auxano Capital and the promoters have participated in the investment round.

Founded in 2005 by logistics veterans Suresh Bansal and Subhasish Chakraborty, DCG Tech (trade name: DCGPAC) was founded to address the packaging needs of MSMEs, e-commerce and quick-commerce brands by offering them a one-stop, cost-effective solution. With over 60,000 customers and 750 million packaging products delivered, the company has established a strong presence through eight fulfilment centres, six sales offices, and a Design and Innovation Centre. It also has a subsidiary in Dubai.

DCGPAC offers a tech-enabled, end-to-end procurement and distribution platform that provides over 10,000 SKUs across 78 categories. It delivers packaging and warehouse products nationwide. The firm’s solutions, such as Design to Distribution, Packaging as a Service, EcoPac for Sustainable Packaging, and the ProPac Platform, aim to bring efficiency and cost-effectiveness to businesses of all sizes.

The newly raised capital will be utilised to accelerate growth, enhance platform technology, and expand international operations. DCGPAC also plans to introduce innovative models such as RePac for reusable packaging to support circular economy and warehouse products.

Commenting on the investment, Mihir Joshi, Managing Director of GVFL, said, “We see a huge potential in DCGPAC’s mission to revolutionise packaging supply chain in India through a robust technology platform and deep supply chain integration. It has already carved a niche in the segment. We are confident that its pan-India reach, strong leadership, and customer-centric innovations make it ideally positioned to become a market leader in this fast-growing segment.”

Suresh Bansal, Founder and CEO of DCGpac

Suresh Bansal, Founder and CEO of DCGpac, said, “This funding round marks a strategic milestone in our journey. With the backing of GVFL and other investors, and our roadmap of smart manufacturing, AI-based technology, and sustainable packaging solutions, we are poised to lead the next phase of growth in the B2B commerce space. Our goal is to become India’s most preferred packaging and commerce platform for businesses. This funding will go a long way in helping us achieve our target of 10x growth in the next five years.”

DCGpac had earlier raised funds in its first seed round from marquee investors, including Haldiram’s and Saudi Arabia-based Zajil. Angel networks like IPV, VCATS and 9Unicorns were among the investors. With the latest round, the company is set to scale operations, launch new services, and accelerate its growth.

Adani Energy Solutions' board Approves Raising ₹4,300 Cr ( ~ $502 Mn)

Adani Energy Solutions' board has approved raising ₹4,300 crore ($502 million) through Qualified Institutional Placement (QIP) or other modes, in one or more franches, said an exchange filing, as reported by Bloomberg.

This move is part of the company’s broader strategy to strengthen its financial position and support ongoing infrastructure projects.

The company has been steadily regaining investor confidence, with Fitch Ratings recently removing Adani Energy from a rating watch and assigning a negative outlook, citing moderating liquidity risks.

In April, Adani Group raised $750 million for an acquisition, with BlackRock Inc. subscribing to about a third of the bond issue. Additionally, its ports unit secured $150 million from DBS Group Holdings Ltd. through a bilateral loan. Last year in May, the company approved a ₹12,500 crore fundraise through Qualified Institutional Placement (QIP) and other modes.

This latest ₹4,300 crore fundraise is smaller than the ₹12,500 crore effort from last year but aligns with Adani Energy’s strategy of gradual capital infusion to support ongoing projects. The company has been steadily regaining investor confidence after earlier scrutiny, and this move reinforces its financial stability.

Additionally, the board has appointed Kandarp Patel as the Whole Time Director & CEO for a three-year term starting May 31, 2025. It also approved the appointment of Hemant Nerurkar, Amiya Chandra, and Chandra lyengar as Non-Executive Independent Directors for three year.

Samunnati Secures ₹381 Cr in Series E Funding, Fuels Inclusive Growth in Agri Sector

Samunnati, India’s leading agri enterprise empowering agricultural value chains, has successfully secured INR 42.5 Crore in Series E equity funding from Agri-Biz Capital Delaware LLC. This equity infusion is the first for FY 2025-26 and takes the total Pre-Series E equity raised till date to more than INR 381 crore.

This strategic investment from Agri-Biz Capital Delaware LLC. significantly enhances Samunnati’s capital base and further strengthens the overall financial position of the Samunnati Group. Agri-Biz Capital Delaware LLC is one of Samunnati’s long-term partners, along with other marquee investors like Nuveen, Accel, Elevar Equity, Equitane and responsAbility and others who have backed Samunnati’s differentiated model and long-term growth trajectory.

The fresh infusion underscores the strong investor confidence in Samunnati’s integrated approach that combines financial services, market linkages, and advisory support to unlock value for smallholder farmers, farmer collectives and agri-enterprises alike.

Commenting on the development, Mr. Anil Kumar SG, Founder of Samunnati, said, "This infusion of capital validates the strength of our unique model that blends financial, market, and advisory services. As we move toward Samunnati 2.0, our focus is on catalyzing an inclusive agri ecosystem that brings markets closer to farmers, creating enduring value across the agricultural value chain. We are excited about what lies ahead and remain deeply committed to enabling prosperity for those who nurture our food systems.”

Last financial year, the company had successfully secured total funding of INR 1,158 crore from a set of diverse institutions like USDFC, Credit Saison, Tata Capital, Poonawalla Fincorp, Hinduja Leyland Finance, Wint Wealth, Altifi, Alteria Capital, and Anicut Capital.

With its robust financial foundation, a rapidly expanding network of lending partners, and an unwavering commitment to empowering stakeholders across agri-value chains, Samunnati is playing a pivotal role in transforming India’s agricultural ecosystem. By facilitating greater access to finance, fostering innovation, and enabling inclusive growth, it continues to drive long-term, sustainable change in the Indian Agriculture sector.

Credit Saison India Raised $150 Mn in ECB from Mizuho Bank

Credit Saison India (“CS India”), a leading non-banking financial company and the Indian subsidiary of Japan’s Credit Saison Co., has secured External Commercial Borrowing (ECB) funding of USD 150 million from Mizuho Bank Ltd. under a bilateral arrangement. This development follows Mizuho Bank’s equity investment for a 15% stake in CS India, with an investment of USD 145 million in 2024 which further deepens the strategic relationship between the two financial institutions. The equity stake marked Mizuho Bank’s strategic entry into the Indian market via Credit Saison India, and this latest ECB investment further strengthens that long-term partnership.

This transaction is funded through Mizuho’s GIFT City branch with a 5-year tenor that adds to Credit Saison India’s robust funding mix and enhances its long-term financial resilience. In April, Credit Saison India had secured a syndicated loan of USD 200 million with the participation of Axis Bank (India), DBS Bank (Singapore), and CTBC Bank (Taiwan), and raised another USD 100 million ECB from a major Indian bank. The latest bilateral ECB of USD 150 million from Mizuho Bank further builds on this momentum and enhances the company’s diversified funding base, bringing its total ECB facility to USD 450 million within a single quarter.

Credit Saison India has been diversifying its funding sources through the issuance of bonds and commercial papers, alongside borrowings from over 35 local financial institutions supported by its AAA long-term ratings from CRISIL and CARE. The recent ECB further bolsters the funding strategy, and allows access to capital from international banks and institutions.

This growing pool of funding enables CS India to support a wider range of borrowers through its co-lending platform and significantly expand its direct lending operations, especially in MSME and secured lending segments.

Ms. Presha Paragash, Whole Time Director & CEO of Credit Saison India, said “Mizuho Bank has been a strategic partner in our journey and chose Credit Saison India as its platform to enter the Indian lending market through equity participation. Over the past few years, the partnership has only deepened - now spanning equity, debt, and ECB support. This ECB transaction, after their equity investment in 2024, demonstrates deep conviction in our growth model and long-term potential in India. It also reflects the strength of our multi-product, multi-vertical focused business strategy, and gives us the power to accelerate our plans to scale the business and expand our pan-India footprint.”

Mr. Anudeep Ganguli, Chief Treasury Officer of Credit Saison India, added, “With the latest ECB facility, Mizuho Bank now supports Credit Saison India across the capital stack, debt, equity, and now external commercial borrowings. This is not only a vote of confidence in our business fundamentals and governance but also a significant milestone that firmly anchors our partnership strategically for the long-term. There is a deep alignment of vision and commitment for India together as we move forward our strategy of building a diversified, cost-efficient funding base to remain resilient in today’s evolving macro-environment.”

Mr. Masaaki Kaneko, Senior Managing Director / India Co-Country Head, India Corporate Banking Department from Mizuho Bank commented, “We believe in Credit Saison India’s robust, tech-driven lending model and its vision to promote financial inclusion at scale. We are confident in the company’s growth trajectory, leadership, market potential and governance practices. India continues to remain an important geography for us and we are committed to supporting the aspirations of the growing economy. Driven by strong economic fundamentals, rapid digital adoption, and a large underserved credit market, India presents one of the most compelling long-term opportunities in the global financial landscape.”

Through these efforts, Credit Saison India continues to strengthen its financial foundation to withstand interest rate fluctuations and macroeconomic shifts, while expanding its outreach to individuals and MSMEs in need of credit.

As part of the broader Saison Group, the company is also committed to advancing global financial inclusion by sharing its learnings from India across other emerging markets, including Brazil and Mexico.

About Credit Saison India:

Credit Saison India is a fast-growing non-banking financial company (NBFC) focused on wholesale, MSME, and consumer lending. CS India is backed by parent entity Credit Saison Japan (a Tokyo Stock Exchange-listed financial services firm) and is an Affiliate Company of Mizuho Bank, Japan. CS India has an AUM of over USD 2 billion with over 2 million active loans. The company leverages technology-driven financial solutions and its extensive network of 60+ branches to drive inclusion and growth in the Indian lending ecosystem. Established in 2018, Credit Saison India now has over 1,300 employees across India (registered name: Kisetsu Saison Finance India Pvt Ltd is a CRISIL AAA & CARE AAA rated NBFC registered with RBI).

About Credit Saison and Saison International

Credit Saison Company Limited (CS Japan), founded in 1951, has an established franchise in Japan’s consumer and SME finance space. Credit Saison is listed on the Tokyo Stock Exchange and as a group has a Balance Sheet of approx USD 30B. Recognized as one of Japan’s top credit card issuers, Credit Saison has evolved into a diversified financial services provider with a global presence across payments, finance, and lending. Saison International is Credit Saison’s international headquarters in Singapore that oversees all of Credit Saison’s Global Business divisions. It currently operates in Singapore, India, Indonesia, Vietnam, Thailand, Mexico and Brazil.

JSW One Platforms Raises Fresh Capital of ₹340 Cr, Enters Unicorn Club

JSW One Platforms Ltd., India’s leading tech-led B2B e-commerce platform, has raised ₹340 Cr of fresh capital, led by Principal Asset Management, OneUp, JSW Steel, and other investors. This round brings the company’s valuation to $1 billion, earning it a coveted unicorn status.

This milestone marks a valuation jump of over 3x from its earlier round of funding in April 2023, a testament to the platform’s strong product-market fit, resilient supply chain, and rapid business execution in just four years.

The capital raised will strengthen national supply chain leadership in steel and cement categories, deepen distribution and logistics networks across India, scale the fintech and NBFC arms, and enable wider access to credit for MSMEs. This will be enabled by building a robust tech stack that creates a truly integrated and digital procurement journey for small businesses.

By offering an end-to-end ecosystem, including commerce, credit, and fulfilment, JSW One aims to simplify sourcing and accelerate growth for over 500,000 building and manufacturing MSMEs across the country.

Parth Jindal, Chairman, JSW One Platforms, said, "JSW One Platforms is more than a marketplace, it’s how India's MSMEs procure, finance, and grow. We're solving critical pain points by combining our tech-led distribution model with JSW Group's strength in manufacturing. We are well-positioned to fulfil the ambitions of India's expanding MSME sector."

Gaurav Sachdeva, Joint Managing Director & CEO, JSW One Platforms, added, "JSW One’s goal is to enable reliable procurement for MSMEs through quality materials, timely delivery, and the right credit solutions. This capital allows us to expand our service network, scale our private brands and NBFC arm, and invest further in tech and logistics. We’re building a supply chain that will continue to add efficiency for MSMEs across India."

In April 2023, JSW One raised ₹205 Cr in funding from Japan’s Mitsui & Co., which helped scale its credit and logistics capabilities and expand into new markets.

Qlik Announces Close of Significant Investment Led by ADIA and Thoma Bravo

Qlik®, a global leader in data integration, data quality, analytics, and AI, today announced the close of a previously disclosed significant minority investment led by a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA). As part of the transaction, Thoma Bravo, a leading software investment firm, remains Qlik’s majority owner and has made a new equity investment alongside ADIA. A select group of institutional investors have also co-invested. The transaction, originally signed in November 2024, has now received all necessary regulatory approvals.

Qlik helps organizations move from AI ambition to execution by turning raw data into trusted insights and proactive decisions. Through a unified platform that integrates data, analytics, and governance, Qlik provides the foundation enterprises need to scale AI initiatives with confidence. Across industries, customers rely on Qlik to stay agile in the face of market shifts, global disruptions, and unexpected challenges.

“Support from Thoma Bravo and a long-term investor like ADIA reinforces the strength of our strategy and the results we’re delivering,” said Mike Capone, CEO of Qlik. “In a market full of AI ambition, Qlik stands out for execution—helping enterprises move fast, act with trust, and turn data into confident decisions. This investment enables us to stay focused and scale that impact.”

“Qlik has consistently executed against one of the most important challenges facing modern enterprises: turning data and AI into real business outcomes,” said Seth Boro, a Managing Partner at Thoma Bravo. “Our continued majority ownership and additional investment reflect our conviction in Qlik’s platform, its performance, and its ability to scale meaningful impact for customers worldwide.”

“Enterprises around the world are moving from experimentation to execution with AI, and that shift is accelerating demand for trusted, scalable solutions,” said Mike Hoffmann, a Partner at Thoma Bravo. “Qlik is uniquely positioned to meet this moment—at the intersection of data integration, governance, and analytics—making it a clear fit with our long-term thesis around mission-critical enterprise software. We’re proud of the significant growth Qlik has achieved since we took the company private in 2016 and are excited to continue this momentum with Mike and ADIA.”

Building on its recent acquisition of Upsolver and its advancements in agentic AI solutions and conversational analytics, Qlik continues to expand its unified platform for trusted, scalable AI. As enterprises invest in AI while seeking to lower costs and maintain trust across the AI value chain, Qlik is increasingly the partner of choice—enabling faster execution with open architectures, governed data, and timely insights.

Guggenheim Securities LLC served as financial advisor and Kirkland & Ellis LLP acted as legal advisor to Thoma Bravo and Qlik. Evercore served as financial advisor and Gibson, Dunn & Crutcher LLP served as legal advisor to ADIA.

About Thoma Bravo

Thoma Bravo is one of the largest software-focused investors in the world, with over US$179 billion in assets under management as of December 31, 2024. Through its private equity, growth equity and credit strategies, the firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Leveraging Thoma Bravo's deep sector knowledge and strategic and operational expertise, the firm collaborates with its portfolio companies to implement operating best practices and drive growth initiatives. Over the past 20+ years, the firm has acquired or invested in approximately 520 companies representing approximately US$275 billion in enterprise value (including control and non-control investments). The firm has offices in Chicago, Dallas, London, Miami, New York and San Francisco. For more information, visit Thoma Bravo's website at thomabravo.com.

About Abu Dhabi Investment Authority

Established in 1976, the Abu Dhabi Investment Authority (“ADIA”) is a globally-diversified investment institution that prudently invests funds on behalf of the Government of Abu Dhabi through a strategy focused on long-term value creation.

About Qlik

Qlik converts complex data landscapes into actionable insights, driving strategic business outcomes. Serving over 40,000 global customers, our portfolio provides advanced, enterprise-grade AI/ML, data integration, and analytics. Our AI/ML tools, both practical and scalable, lead to better decisions, faster. We excel in data integration and governance, offering comprehensive solutions that work with diverse data sources. Intuitive analytics from Qlik uncover hidden patterns, empowering teams to address complex challenges and seize new opportunities. As strategic partners, our platform-agnostic technology and expertise make our customers more competitive.

Porter Closes Series F Funding Round led by Kedaara Capital and Wellington Management

Porter, India’s leading on-demand Goods Transport Agency (GTA), has successfully closed its Series F funding round led by Kedaara Capital and Wellington Management along with continued support from existing investor, Vitruvian Partners. The round included a healthy mix of primary investment in the Company and secondary exits to few existing shareholders.

Founded in 2014, Porter has transformed intra-city logistics across India, offering a comprehensive suite of services including on-demand intra-city transport, packers and movers, and enterprise logistics solutions. With this fresh capital, the company is set to expand operations across multiple cities, with the goal of serving millions of MSMEs and enabling livelihood opportunities for over 1 million gig workers. With a sharp eye on growth and innovation, Porter plans to channel the capital into team expansion, technological development, and operational excellence— while continuing to build a greener logistics network aligned with national decarbonization efforts.

Uttam Digga, Co-Founder & CEO, Porter, said, “We are pleased to welcome Kedaara Capital and Wellington Management as our strategic partners. Since our inception, we have been committed to making urban logistics more efficient, intelligent, and inclusive — supporting MSMEs, empowering gig workers, and strengthening the communities we serve. With this, we look forward to accelerating our growth and building world-class, sustainable logistics solutions for businesses and communities across the globe."

We would also like to acknowledge our early investors who played a pivotal role in supporting Porter’s growth journey, and we are deeply grateful for their unwavering support, guidance, and belief in our vision throughout this transformative period."

Anant Gupta, Partner and Ashutosh Sardesai, Director at Kedaara Capital, said “We are excited to partner with Porter, the undisputed leader in India’s intra-city logistics space. In a largely unorganized and underserved market, Porter has built a tech-first, asset-light platform that delivers seamless, reliable logistics solutions at scale. Their strong execution, deep market understanding, and unwavering focus on customer and partner experience have created significant network advantages. We look forward to supporting Uttam, Pranav, and the entire Porter team as they continue to drive innovation, empower driver-partners, and expand their leadership across India’s intra-city logistics ecosystem.”

Prakhar Singh, Asia Sector Lead, Wellington Management, added, “We admire Porter’s resilience and execution-first mindset, which has helped them create their leadership position in the intra-city logistics space. What sets them apart is how deeply they’re embedded in the ecosystem—organizing a largely unstructured market from within, using technology to create meaningful impact for MSMEs and gig workers. We’re excited to partner with them as they scale their purpose.”

Shailesh Lakhani, MD, Peak XV, said, "When our journey started with Porter 10 years ago, the company was one amongst many in local goods transport. Uttam, Pranav and Vikas were clear on their vision and approach and why it was the right one. Today the company is the market leader, and more importantly has made the process of sending goods reliable, more efficient and transparent in cities in India and now abroad. In the journey, their name has become a verb and to say '’I am Portering it" means the goods will be there soon. We wish the company and their new partners all the best and thank the Company and the management for the partnership."

As Porter completes 10 years in business, the milestone signifies its resilience, consistent value delivery, and leadership in logistics across 22 cities in India and 2 countries. Guided by its purpose of “moving a billion dreams, one delivery at a time” Porter has now evolved into an ecosystem touching the lives of over 30 lakh customers and 3 lakh gig workers every month in India.

IndigoEdge acted as the exclusive financial advisor to Porter on this transaction.

About Porter:

Founded in 2014, Porter is a leading Goods Transport Agency (GTA) offering a wide range of intra-city and inter-city logistics solutions. Guided by its purpose of “moving a billion dreams, one delivery at a time” Porter has now evolved into an ecosystem touching the lives of over 30 lakh customers and 3 lakh gig workers every month across 22 cities in India. Backed by a team of 2,600 employees, the company has spent the last decade digitizing urban logistics infrastructure, fostering MSME collaborations, and accelerating India’s journey towards an organized and connected economy.

The company strives to improve the lives of gig-workers by providing them with financial access, affordability, and financial independence. Porter started operations in India as Smartshift Logistics Solutions Private Limited and has since expanded its footprint internationally, now operational in two countries. Porter has multiple segments within logistics—from on-demand trucks and two-wheelers to Packers & Movers, Porter Enterprise and intercity courier services. To learn more, visit www.porter.in

About Kedaara Capital

Kedaara is an operationally oriented private equity firm pursuing control and minority investment opportunities in India. It currently manages over $6 billion through investments in several market-leading businesses across a variety of sectors including financial services, consumer, pharma/healthcare, and technology/business services. Since its inception, Kedaara has remained singularly dedicated to its stated strategy of focusing on investments built through trust-based relationships with best-in-class entrepreneurs and management teams across secular fast-growing end markets. Kedaara combines the strengths of a well-networked, highly experienced local investing and operating team, with the experience of their strategic partner, Clayton, Dubilier & Rice, a global private equity firm.

About Private Investing at Wellington Management

Wellington’s Private Investing platform manages more than US$8.9bn in assets under management, and invests globally across venture capital, private credit, and private real estate in multiple stages and sectors (consumer, technology, healthcare, financial services, biotech, energy, industrials, climate tech, and real estate). The team accesses its deep research, networks, and resources across public and private markets to broaden perspectives which aim to benefit both investors and entrepreneurs.

For more than 20 years, Wellington has been investing in private markets, launching its first dedicated private capital fund in 2014. As one of the world’s largest independent investment management firms, Wellington serves as a trusted adviser to over 2,500 clients in more than 60 countries, managing US$1.3 trillion for pensions, endowments and foundations, insurers, family offices, fund sponsors, global wealth managers, and other clients.

Uniqus Consultech Raises $20 Mn in Series C Led By Nexus Venture Partners

Uniqus Consultech, a tech-enabled global platform that offers consulting solutions in the accounting & reporting, finance operations, governance, risk, ESG, and technology domains, today announced that it has secured $20 million in Series C funding.

The round was led by Nexus Venture Partners, with participation from Sorin Investments. Nexus and Sorin are existing investors in Uniqus. The funds will be used to accelerate the company’s rapid growth trajectory, launch adjacent services, and expand its geographical footprint across the globe. Uniqus also plans substantial R&D investments in AI-driven solutions for the reporting and risk management challenges faced by its clients.

The funding comes amid exceptional growth as Uniqus satisfies the strong market need for modern consulting solutions. Companies now seek consulting services that blend deep domain expertise with cutting-edge technology and access to a global talent pool. Uniqus has emerged as a leader, providing specialized, and scalable technology-driven solutions that disrupt traditional consulting models.

Since launching two years ago, Uniqus has established offices in 11 cities across India, US, and the Middle East, employing more than 550 high-performing professionals led by 60 Partners and Directors, serving more than 250 clients. During this period, Uniqus has also launched several tech assets:
UniQuest: GenAI-powered platform transforming search, summarization and analysis across industries including regulatory filings to deliver dynamic conversations and precise answers to reporting queries

• Risk UniVerse: Proprietary platform designed specifically to streamline internal controls over financial reporting, SOX compliance, and internal financial controls
• Reporting UniVerse: Comprehensive technology solution for financial reporting and data management
• ESG UniVerse: Advanced data management and reporting tool tailored for environmental, social, and governance (ESG) metrics.

Uniqus also enhances its offerings through strategic technology partnerships with companies like Cranium AI to enhance AI Risk Management Solutions for its clients.

"Uniqus represents the future of consulting,” said Anup Gupta, Managing Director of Nexus Venture Partners. "While traditional consulting firms struggle to adapt to changing market needs, Uniqus takes a fundamentally different approach that delivers superior results. The company's strategic use of technology and AI, coupled with its global cloud delivery model, unlocks an enormous opportunity to transform client outcomes and redefine consulting economics. We are thrilled to reinforce our partnership with Team Uniqus in this exciting journey."

“Our vision has always been to build a consulting platform that leverages global talent and technology to deliver exceptional client outcomes,” said Jamil Khatri, Co-Founder & CEO of Uniqus. “With a $100 billion+ addressable market before us, this is just the beginning. Our latest round of funding positions us to expand our capabilities and geographical presence as we tap into this market. The funding will also help us to build Uniqus AI, leveraging our deep domain skills and new GenAI models to transform how consulting services are delivered.”

"Uniqus continues to execute remarkably well as it builds a differentiated, global consulting company,” said Sanjay Nayar of Sorin Investments. “The company has anticipated and capitalized on the growing need for tech-enabled consulting services, positioning itself well ahead of competitors. With its proven execution prowess and the significant opportunities that lie ahead, we are excited to partner with Uniqus on the next phase of its growth journey.”

The Series C funding saw significant investor interest and marks another milestone in Uniqus’ journey, affirming investor confidence in its vision, team, and potential for long-term success.

Nexus Venture Partners is an India-US venture fund started by successful entrepreneurs, with a focus on enterprise technology and Digital India spaces. Sorin Investments is an early-stage tech fund founded by private equity veteran, Sanjay Nayar.

Noida-based Nexgen Energia Secures $1 Bn from Capital Edge

In a big news for India's green energy sector, NexGen Energia, a Noida-based firm specializing in Compressed Bio-Gas (CBG) production, has secured a $1 billion investment from Capital Edge, a Kuwaiti investment company. 

This funding will help NexGen Energia expand its CBG infrastructure across India, supporting the country's transition to clean energy and energy self-reliance.

The funding is equity-based, allowing NexGen Energia to scale operations without short-term repayment pressure.

The company aims to establish 1,000 CBG plants by 2026, contributing to India's clean energy transition. The investment aligns with India's National Bio-Energy Mission, which promotes bio-energy initiatives for sustainability and carbon neutrality.

The Kuwaiti firm, Capital Edge, specializes in high-impact investments across Asia, Africa, and the Middle East, focusing on scalable, sustainable projects.

The company aims to set up 1,000 CBG plants by 2026, significantly boosting India's renewable energy capacity 1. With the Indian government actively promoting bio-energy initiatives, this investment aligns well with national goals for sustainability and carbon neutrality.

NexGen Energia’s Director of Sales, Nishant Tiwari, emphasized that this funding will accelerate their vision of a greener India, fostering innovation, job creation, and energy independence.

This $1 billion investment in NexGen Energia's Compressed Bio-Gas (CBG) infrastructure is a significant step for India's renewable energy sector and has multiple far-reaching implications such as Job Creation, as setting up 1,000 CBG plants will generate employment opportunities, especially in rural areas. Moreover, farmers can sell agricultural waste to CBG plants, creating an additional revenue stream.

Globally, investments in renewable energy have surged, with clean energy spending now nearly double that of fossil fuels. In 2024, total energy investment is expected to exceed $3 trillion, with $2 trillion allocated to clean energy technologies and infrastructure.

Indian Oil-GPS Renewables JV is investing 1,200 crore to set up 10 CBG plants across India in FY26. These plants will produce 5,475 tonnes per annum (TPA) of CBG, along with fertilizers and biomass pellets. Locations include Haryana, Uttar Pradesh, Chhattisgarh, and Andhra Pradesh.

Last November, Reliance Industries announced a massive investment of ₹65,000 crore (approximately US$ 7.5 billion) to set up 500 CBG plants in Andhra Pradesh over the next 5 years.

The SATAT initiative (Sustainable Alternative Towards Affordable Transportation) aims to establish 5,000 CBG plants by 2023-24, with an estimated investment of ₹2 lakh crore. This program is designed to boost clean fuel availability and create employment opportunities.

Financial analyses indicate that CBG investments offer promising returns, with growing demand for biomass blending in coal-based power plants and fertilizer markets. However, challenges include securing skilled manpower and ensuring stable feedstock supply.

Bessemer Venture Partners Raises $350 Mn India Fund to Back Next-Generation of Startups

• Second dedicated India fund builds on Bessemer’s nearly two-decade-long presence in the country and reinforces its commitment to supporting technology and innovation-driven businesses
• The fund will focus on early-stage startups and support them through subsequent growth stages
• Bessemer will focus on investments across AI, SaaS, fintech, digital health, consumer, and cybersecurity.

Bessemer Venture Partners today announced the close of $350 million in capital for its second dedicated India fund, reinforcing the firm’s long-standing commitment to backing founders in the region as they build enduring companies.

The new fund will enhance the firm’s focus on early-stage investments, across AI-enabled services and SaaS, fintech, digital health, direct-to-consumer brands, and cybersecurity. Bessemer has a long-standing history of partnering with companies early and supporting them through their growth. More than 80 percent of its investments in India over the last five years have been in early-stage companies.

Speaking on the fund raise, Vishal Gupta, Partner and Managing Director of the firm’s Bangalore office said, “This fund deepens our commitment to India’s startup ecosystem as we continue backing the next generation of entrepreneurs building technology-led businesses. We remain focused on identifying and investing in founders who are driving innovation, solving complex challenges, and building market-defining companies. Beyond providing capital, we bring deep sector expertise, a global network, and hands-on support to help founders navigate their growth journeys and scale sustainably.”

Bessemer Partner Anant Vidur Puri added, "India is at the forefront of the AI-driven transformation, with founders building domestic as well as globally-competitive businesses across enterprise software, fintech, and consumer technology. As AI adoption accelerates, we see immense opportunities for innovation, and this fund allows us to back entrepreneurs shaping the next phase of India’s digital economy."

Bessemer first established its India presence nearly two decades ago in 2006 and has since invested in more than 80 startups in the country. The partnership’s strategy centres around being patient, long-term partners to visionary founders from the early stages. The firm has a history of taking a roadmap-driven investment approach that enables its investors to build conviction in emerging areas across industries before they become obvious, and better help founders navigate evolving industry landscapes. This approach has led Bessemer to invest early in shifts in the market like the onset of the mobile revolution, India’s digital infrastructure, and its healthcare revolution, resulting in investments such as Urban Company, Perfios, and Medi Assist.

The firm’s first dedicated India fund backed notable startups including Boldfit, MoveInSync, Pepper Content, Shopdeck, Vetic, and Zopper, while its broader portfolio includes category leaders like BigBasket, Livspace, Perfios, Swiggy, and Urban Company. The firm has also seen nine IPOs within its India portfolio.

With investment teams positioned across five countries, Bessemer is a globally integrated platform that is committed to supporting innovative startups and fostering the next generation of industry leaders.

About Bessemer Venture Partners

Bessemer Venture Partners helps entrepreneurs lay strong foundations to build and forge long-standing companies. With more than 145 IPOs and 300 portfolio companies in the enterprise, consumer and healthcare spaces, Bessemer supports founders and CEOs from their early days through every stage of growth. Bessemer’s global portfolio has included ServiceTitan, Pinterest, Shopify, Twilio, Yelp, LinkedIn, PagerDuty, DocuSign, Wix, Fiverr, and Toast and has more than $18 billion of assets under management. Bessemer has teams of investors and partners located in Tel Aviv, Silicon Valley, San Francisco, New York, London, Hong Kong, Boston, and Bangalore. Born from innovations in steel more than a century ago, Bessemer’s storied history has afforded its partners the opportunity to celebrate and scrutinize its best investment decisions (see Memos) and also learn from its mistakes (see Anti-Portfolio).

Shriram Finance Raises Over $500 Mn Equivalent Marking One of the Largest SACE Covered Loan Facility

Shriram Finance Limited (SFL), among the India’s largest NBFC and the flagship company of the Shriram Group, has successfully availed a landmark External Commercial Borrowing (ECB) SACE Push loan facility. This transaction represents the largest SACE, an Italian export credit agency controlled by the Ministry of Economy & Finance, Italy, covered loan facility ever raised by a NBFC in India from SACE, reinforcing SFL’s position as a leader in offshore fundraising and its ability to diversify funding sources strategically.

This 10-year long-tenor facility is backed by SACE, underlines a strong global partnership aimed at promoting the financing of Italian vehicles, both new and used, under SFL’s Social Finance Framework. The transaction saw participation from leading global financial institutions, including HSBC, Deutsche Bank, KfW IPEX-Bank, ING Bankand J.P. Morgan as Mandated Lead Arrangers and Lenders amounting to EUR 393 million and USD 100 million highlighting the strong confidence of international lenders in SFL’s creditworthiness. HSBC acted as the Sole ECA (Export Credit Agency). Coordinator and ING Bank acted as the Social Loan Coordinator for the transaction.

SFL’s collaboration with SACE reaffirms its ability to structure innovative funding solutions that align with its long-term business strategy. The transaction further demonstrates SFL’s agility in tapping offshore financing markets and expanding its lender base to support sustainable business growth.

This milestone highlights SFL's demonstrated ability to tap into international capital markets, effectively optimizing its funding costs while maintaining a diverse funding mix. With this recent transaction, SFL has successfully secured over USD 2.50 billion in offshore funding in the current financial year, the highest by any NBFC in India in structured finance and sustainable funding initiatives.

Commenting on the successful fundraise, Mr. Umesh Revankar, Executive Vice Chairman of Shriram Finance Limited, stated: “This landmark transaction showcases our strong ability to navigate global financial markets and forge strategic partnerships with international lenders. Our association with SACE and leading global banks reinforces the confidence that global financial institutions have in SFL’s vision and operational strength. This facility not only enhances our ability to provide financing for Italian vehicles and equipment’s but also strengthens our commitment to financial inclusion and economic development.”

Gautam Bhansali, Head-India & South Asia of SACE stated: “Our relationship with Shriram Finance has only strengthened since 2019 when we executed our first Push Facility and since then over € 100 Mn equivalent of Italian products have been supported by them. This new unique facility is expected to further strengthen our partnership as we simultaneously support Italian excellence and Social activities of Shriram Finance in India.”

Mr. Ajay Sharma, Head of Banking, HSBC India, said, "We are delighted to work alongside SFL to arrange this landmark SACE-backed financing facility, further enhancing our relationship with them and reinforcing HSBC’s strong capabilities as a global ECA arranger. This transaction marks our fourth SACE-backed deal in India in the past 12 months, underscoring our commitment to supporting Indian clients and our strong relationship with the Italian ECA, which spans more than four decades.”

This transaction aligns with SFL’s strategic focus on expanding its lender base and accessing diversified pools of capital to support its mission of empowering small business owners and individuals with responsible financial solutions. By leveraging global partnerships, SFL continues to lead the way in mobilizing sustainable capital for India’s growth and development.