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  • Meta Levels Up Indian Gaming with New Accelerator and VC Backing

    The game industry in India is expanding quickly, and Mark Zuckerberg’s company Meta is interested in joining.

    The multibillion-dollar software company, in collaboration with four top venture capital funds—Bitkraft Ventures, Kalaari Capital, Lumikai Fund, and Elevation Capital—launched Meta Gaming Accelerator earlier this week, an incubator designed to assist small and medium gaming companies.

    The goal is to first assist 20 to 30 up-and-coming Indian creators and studios by providing them with strategic direction in the areas of AI-led game creation, cross-border scaling, user acquisition, and monetisation.

    Arun Srinivas, Managing Director and Head, Meta (India), stated that although the Indian gaming community is a hive of creativity and invention, “we must close the gap between talent and opportunity in order to realise its full potential.”

    Meta to Assist Creator in Infusing AI Tools

    Additionally, Meta will prioritise assisting Indian creators in incorporating its AI tools—such as Llama—into their game development and optimisation procedures.

    According to Anuj Tandon, Partner at BITKRAFT Ventures, there is a significant need for the ecosystem to unite and support small and medium-sized gaming businesses in developing gaming markets like India.

    Given that gaming is a potent catalyst for both cultural expression and commercial opportunity, Meta claims that its Gaming Accelerator expands on the company’s ongoing investments in fostering and expanding India’s digital economy.

    The goal of Meta’s Gaming Accelerator programme is to assist up-and-coming game studios and developers. It will give them the tools they need to expand internationally, improve their games, and build their businesses. 

    The programme includes a variety of features, including ad monetisation and platform integration (Meta Ads, Audience Network), player acquisition and campaign optimisation strategies, and Llama and AI seminars for game design, personalisation, and storytelling.

    India Second Largest Market for Gaming

    India has the largest mobile gaming market and the second-largest gaming market overall. With 520 million users—second only to China—and 1,888 gaming startups, the nation is home to more than 130,000 highly qualified gaming specialists.

    It is responsible for 15.1% of gaming app downloads and 20% of all gaming users worldwide. But because of inexpensive internet, India has solidified its position as the world’s largest mobile game market, with 8.45 billion downloads in FY25, according to the most recent report from Sensor Tower.

    India is one of the biggest gaming markets, but it has poor revenue due to a number of structural problems of its own. These include insufficient cultural validation, a fragmented consumer base, minimal monetisation per user, and a lack of deep capital for gaming intellectual property.

    For instance, in-app purchase (IAP) revenue in India is only a little over $400 million, which is low when compared to more developed economies, even though downloads are still high there.

  • Adani Airports Secures $1 Billion Liftoff for Expansion Plans

    For its Mumbai International Airport Ltd. (MIAL), Adani Airports Holdings Limited (AAHL) was able to obtain $1 billion in funding through a project finance framework.

    AAHL is the biggest private airport operator in India and a fully owned subsidiary of Adani Enterprises Ltd. Adani Airport Holdings is the parent company of MIAL.

     According to the statement, a group of long-term backers and affiliates of Apollo-managed funds contributed $750 million to Mumbai International Airport Ltd. Adani claims that the $750 million notes that mature in July 2029 will be issued as part of the deal and used for refinancing.

    A provision to raise an extra $250 million is also included in the financing structure, making a total of $1 billion in funding possible. According to reports, this is the first private bond offering in the airport infrastructure sector in India to receive an investment-grade (IG) rating.

    Apollo-Managed Funds Lead the Round

    The deal, which was spearheaded by Apollo-managed funds and involved a syndicate of top institutional investors and insurance firms, including Standard Chartered and BlackRock-managed funds, demonstrated international trust in India’s infrastructure potential and Adani Airports’ operational framework.

    The notes are anticipated to be rated BBB-/stable, supported by MIAL’s steady cash flows and asset base, as well as its operational efficiency. By continuing to invest in modernisation, capacity growth, digitalisation, and technology integration, AAHL is steadfast in its long-term goal of revolutionising the airport’s infrastructure.

    Additionally, by accelerating its sustainability programme, the deal will help MIAL reach its 2029 net-zero emissions target. This issue comes after AAHL received $750 million in funding from a group of international banks.

    This most recent deal is further evidence of Adani’s capacity to draw top-tier investors to India’s next-generation infrastructure platform and its access to diverse international finance markets.

    Investors Showing Great Confidence in AAHL-Bansal

    According to Arun Bansal, CEO of Adani Airports Holdings Ltd., this successful issue demonstrates the resilience of Mumbai International Airport’s foundation, the robustness of Adani Airports’ operating platform, and AAHL’s dedication to sustainable infrastructure development.

    He went on to say that the company is pleased to expand its access to international capital pools with the help of Apollo-managed funds and top institutional investors. AAHL’s ability to get one of the biggest private investment-grade project finance issuances, he added, shows its dedication to long-term value development, capital efficiency, and financial discipline.

    The investors were advised by Milbank LLP and Khaitan & Co., while MIAL was represented by A&O, Shearman, and Cyril Amarchand Mangaldas. In addition to managing the Navi Mumbai International Airport, a strategically placed project on the outskirts of Mumbai that is soon to open, Adani Airport Holdings already runs eight airports around India.

  • Government Weighs Relief Plan for Vi’s INR 84,000 Cr Debt Woes

    Due to concerns that the telecom operator would fail without executive latitude, the Centre, which already owns the largest equity in Vodafone Idea (Vi) through the conversion of previous receivables into stock, is considering a number of options to give the telco additional relief on outstanding regulatory dues of INR 84,000 crore.

    A media report cited that raising the repayment period from the current six years to 20 years and concurrently implementing simple interest on the outstanding balance rather than compound interest or interest on interest are two options on the table to address adjusted gross revenue (AGR)-related dues.

    Its annual payment load may decrease considerably if such terms are applicable to Vi; nonetheless, some are doubting if the telco’s current cash flows are adequate to meet even the most lenient repayment covenants.

    The report further revealed that a second possibility is to charge a nominal sum of INR 1,000–1,500 crore per year to partially cover such obligations while a resolution is made on the larger AGR issue.

    Several Other Options are Being Discussed

    According to a number of media reports, in addition to these two solutions, several other innovative ideas are also being investigated, and any one or a combination of options may provide relief.

    The government wants to keep the business open. According to a media report, something new needs to be created because the known or current options—like waiving the interest and penalties—are not working.

    However, whichever choice is chosen, it would be viable from a legal standpoint. As of March 2025, Vi owed INR 83,400 crore in unpaid AGR dues; the annual payment instalments for this amount are due beginning in March 2026 and must be made by March FY31.

    Currently, by March of this fiscal year, the losing telecom company must pay INR 18,064 crore. The government is concerned that the corporation won’t be able to survive without any respite on the AGR dues, as its cash and bank balance at the end of March amounted to INR 9,930 crore.

    Financial Hurdles of Vi

    As a result of the Supreme Court’s 2021 AGR verdict, telecom companies like Vi and Bharti Airtel currently pay between 29 and 30% compound interest on their existing debts each year.

    The total outlay and accumulation for the upcoming years would be decreased if the same were converted into simple interest of 8–10%. A media report claims that if the decision is carried out prospectively, Vi can save more than INR 16,000 crore in interest costs following the conversion.

    If the judgement is applied retroactively, the savings will be even greater. For instance, until 2031, Vi is required to pay INR 18,064 crore by March 31 of each year. However, the annual instalment would be almost INR 15,000 crore if the interest were converted to a basic interest of 8–10%.

    The report went on to say that the payments might be prolonged to 20 years because the company’s cash flows will not allow it to pay even that sum. The annual outlay could be less in such a scenario.

    According to the government’s scenario-building for Vi, the firm would go bankrupt in FY27 if it is forced to pay the entire INR 18,064 crore instalment that is due by the end of FY26.

  • Kamath Brothers Back InCred with INR 250 Crore Investment Power Move

    Nikhil and Nithin Kamath, co-founders of Zerodha, have paid INR 250 crore to purchase a minority interest in InCred Holdings Limited, which is the parent company of InCred Financial Services Ltd (IFSL).

    This is in advance of InCred’s anticipated first public offering later this year. IFSL is a tech-enabled NBFC that specialises in financing for SMEs, consumers, and educational institutions.

    Since its establishment in 2016, the business has served clients throughout India by utilising data science, risk analytics, and digital-first operations. According to investor and entrepreneur Nikhil Kamath, the credit ecosystem in India is rapidly evolving, becoming more formal, digitised, and easily accessible.

    He went on to say that it appears that InCred Group was aware of this fluctuating pulse rate. They have a solid staff, prioritise technology, and have a clear idea of the market’s future. Supporting them is an investment in that larger change—and the conviction that responsible lending can grow without sacrificing its core values.

    InCred’s IPO and Funding Till Now

    InCred is reportedly aiming for an IPO valuation between INR 15,000 crore and INR 22,500 crore. Through the IPO, it hopes to raise between INR 4,000 and 5,000 crore.

    In 2023, the business joined the unicorn club with a $1.04 billion valuation. Manipal Education and Medical Group, owned by Ranjan Pai, is one of its investors.

    An additional INR 1,000 crore was allotted to start-up funding by Rainmatter Capital, an investment arm supported by Zerodha, according to Nithin Kamath’s 2023 announcement.

    In order to assist financial startups, Rainmatter was founded in 2016. Nithin Kamath stated, “We have invested INR 400 crore in 80 start-ups so far.”

    Yet to Finalise Bank for the IPO

    Despite worldwide market turbulence that has affected fundraising plans and caused a media agency to speculate last week that InCred Financial’s IPO may be delayed, the company is still exploring selling its shares.

    Despite such market fluctuations, UBS Group AG is becoming more optimistic about Indian stocks, moving the market from underweight to neutral due to its defensive appeal.

    In an interview with a media outlet earlier this month, the chief investment officer of InCred Financial’s credit division, InCred Alternative Investments, stated that the company intends to raise 15 billion rupees through a new fund in order to meet the demand for private lending.

    Bhupinder Singh launched InCred Financial in 2016, and it specialises in financing for small businesses, retail customers, and educational institutions. In 2022, the company announced a cooperation with KKR India Financial Services Ltd.

  • Swiss International University Sets New Benchmark with TAG-EDUQA Accreditation

    Swiss International University (SIU), a worldwide university renowned for its innovative vision in higher education, has received accreditation from TAG-EDUQA, the quality assurance arm of the Arab Organization for Quality Assurance in Education (AROQA). The achievement represents a major event in SIU’s ongoing effort to provide academically rich, affordable education to students the world over.

    This recognition qualifies SIU to join an elite group of institutions that have met AROQA’s stringent standards for quality teaching, learning, and institutional transparency. It upholds SIU’s compliance with international educational standards and underlines the institution’s credibility as a reliable deliverer of quality higher education.

    Awarding the accreditation came under the patronage of the founder of SIU, Dr. Talal Abu-Ghazaleh, one of the most highly successful Arab businessmen and the most powerful advocate of reform in education. Dr. Abu-Ghazaleh also chairs the board of TAG-EDUQA. The pride is deeper when the honorary President of TAG-EDUQA, along with the Secretary General of the Arab League, endorses the accreditation and highlights its importance in the Arab World.

    “This accreditation is a confirmation of the dedication and professionalism of academic and administrative staff at SIU,” said SIU’s Academic Program Director Derya Briand. “Receiving this honor on our first attempt shows the solid foundation we’ve already laid and our continued dedication to excellence. It’s a message to our students, partners, and faculty that SIU is committed to the highest quality of education.”

    The honor comes at a historic time in SIU’s history, when the university is increasing academic programs and growing ties globally. SIU is part of an expanding international network that includes OUS International Academy in Zurich, IBMS International Business Management School in Lucerne, and ISB International Vocational College and SIU Almaty (Bishkek, Kyrgyzstan). Collectively, these educational institutions are driving a borderless education model that encourages cultural exchange and global partnerships.

    SIU is raising the bar for local and international standards in higher education institutions as regional governments and regulatory bodies prioritize quality assurance. As more and more students in the Arab region and beyond seek a reputable academic institution, SIU is a popular option.

    SIU, more than just an institution of learning and research, is committed to developing well-rounded, responsible, and engaged leaders who are equipped to master the complex challenges of today’s competitive and collaborative global landscape by maintaining the Quadrangle’s universal values. The focus of the university—innovation, cultural inclusiveness, and leadership—has garnered the interest of overseas partners and Education authorities as well as being recognized by the Chinese education officials and other global stakeholders.

    In the future, SIU is considering a stronger diversification of its educational offerings to meet global demand, the introduction of new academic fields and programs, and the establishment of collaborative programs for acquiring knowledge abroad. The accreditation from TAG-EDUQA comes at a critical time for these efforts and will help enhance the university’s position in the international arena.

    This announcement affirms the quality of SIU’s current offerings while demonstrating the university’s dedication to student-centered, forward-looking education. It showcases the university’s role in promoting innovation and building global ties in higher education.

    For more details on Swiss International University and its programs, visit www.swissuniversity.com.

  • Rohit Sharma Backs Prozo to Build India’s Integrated Supply Chain Operating System

    Gurugram, 24th June 2025: Prozo, one of India’s fastest-scaling integrated supply chain companies, today announced a strategic investment from Indian cricketing legend Rohit Sharma. His backing reflects growing recognition of supply chain infrastructure as a critical enabler of modern commerce and signals strong belief in Prozo’s vision to make enterprise-grade logistics accessible through a flexible, pay-per-use model.

    Founded in 2016 by Dr. Ashvini Jakhar, a former Naval doctor, McKinsey alumnus and ISB graduate, Prozo has built a full-stack platform that unifies warehousing, freight, and fulfillment. Prozo has raised a total of $20 million to date, with participation from investors such as Sixth Sense Ventures and Jafco Asia across multiple funding rounds. The company currently operates 42 tech-enabled warehouses covering over 2.2 million square feet, delivers to more than 24,000 pin codes, and is operating at a revenue run-rate of ₹250 crore.

    As per Deloitte India Report, India’s digital commerce market is projected to exceed $350 billion by 2030, driven by a surge in direct-to-consumer brands, omnichannel retail, and the rapid digitisation of logistics. However, the ability to meet this demand hinges on robust, technology-enabled supply chain systems. These are no longer back-end operations but have become strategic enablers of growth. As brands scale, they need infrastructure that can deliver speed, visibility, and reliability across channels and geographies. This is the gap Prozo is addressing.

    Commenting on the investment, Rohit Sharma, exclusively represented by RISE Worldwide, said, “Every great performance needs an engine that does not crack under pressure. Prozo is exactly that for the brands it supports, a dependable, tech-first platform that powers scale with consistency. I am glad to invest in  Prozo, which is focused on building the backbone of India’s new-age commerce.”

    Dr. Ashvini Jakhar, Founder and CEO of Prozo, added, “We are very happy to have Rohit Sharma on board as an investor. Rohit’s journey from opening batsman to national leader mirrors what we aspire to be for our clients; a consistent, reliable force. His belief in our mission energizes us further as we build India’s most agile and accessible supply chain infrastructure.”

    Prozo supports a diverse mix of high-growth and enterprise brands including The Minimalist, Neemans, Comet, Beardo, Bewakoof, Traya, Snitch, Powerlook and Aramya, along with large organisations such as PhonePe, McGraw-Hill and TATA Consumer Brands. Its proprietary control tower platform and national network enable clients to scale seamlessly across B2B, B2C and D2C channels.

    As India’s commerce ecosystem matures, Prozo is well-positioned to become the infrastructure layer powering the country’s next generation of brands; delivering efficiency, reliability and innovation at scale.

    About Prozo
    Prozo is a full-stack supply chain company that helps omni-channel brands achieve fast and reliable fulfillment. Backed by a pan-India warehousing and logistics network and its proprietary Control Tower tech stack, Prozo offers enterprise-grade capabilities on a flexible, pay-per-use model.

  • Skippi Raises ₹12 Crore in Extended Pre-Series A Round, Led by Dubai-Based Family Offices, Facilitated by Bestvantage Investments

    Mumbai, June 24, 2025: Skippi, India’s leading ice pops brand and a breakout success from Shark Tank India Season 1, has raised ₹12 crore in an extended pre-Series A funding round. The round was advised and facilitated by investment advisory firm Bestvantage Investments, and led by Dubai-based strategic family offices of Mr. Surya, who invested ₹10 crore. The remaining ₹2 crore was raised from other angel investors.

    This strategic capital infusion will support Skippi’s aggressive growth plans, strengthening brand visibility, enhancing working capital, accelerating product innovation, and onboarding senior leadership. It will also help the company establish a footprint in the Middle East, with the support of its new investor.

    Skippi, launched in 2021, has grown into India’s premier ice pops brand. Its products are now available in over 20,000 retail outlets nationwide and through top e-commerce platforms such as Zepto, Swiggy Instamart, Cred, Amazon, Big Basket, and its own website. The company recently diversified its portfolio with new offerings like Crazy Corn, Cornsticks, and Cream Rolls.

    Earlier this year, Skippi had raised a bridge round from Hyderabad Angels Network (HAN) and Venture Catalysts (VCats), with participation from Soonicorn Ventures, HEM Securities, and prominent angel investors.

    Skippi’s journey began with a ₹1.2 crore investment from all six sharks on Shark Tank India Season 1 that is Aman Gupta, Ashneer Grover, Anupam Mittal, Namita Thapar, Vineeta Singh, and Piyush Bansal for an 18% equity stake. Since then, the company has grown its monthly revenues by 80x, from ₹5–7 lakhs to several crores.

    Ravi Kabra, CEO and Co-Founder of Skippi, said “This funding is a big step for Skippi as we work to become a top FMCG brand in India. We are very thankful for the support from our investors, including our valued sharks. With this money, we will focus on building our brand, creating new products, and bringing in great talent to our leadership team.”

    Raman Sharma, CEO and Founder of Bestvantage Investments, added “Skippi has made an India-first brand in a market dominated by international players. We feel that there is a tremendous opportunity to take this product to the masses.”

    With this momentum, Skippi aims to deepen its footprint across India and international markets, while continuing to deliver fun, innovation, and nostalgia to families everywhere.

    About Skippi

    Skippi is India’s first ice popsicle brand and a household name born from Shark Tank India Season 1, where it secured investment from all six sharks. Launched in 2021, Skippi has rapidly scaled its presence to over 20,000 retail outlets across India and major online platforms such as Amazon, Zepto, Big Basket, Swiggy Instamart, and more. With a growing portfolio of innovative products Skippi is on a mission to build a modern FMCG brand that brings joy, nostalgia, and quality to every bite.

    About Bestvantage Investments

    Bestvantage Investments is a boutique investment advisory firm that connects high-potential startups with strategic investors across India and the Middle East. Founded by Raman Sharma, Bestvantage specializes in deal sourcing, investment structuring, and capital raising for early to growth-stage companies. With a strong network of family offices, venture funds, and institutional investors, the firm enables businesses to unlock growth opportunities through strategic capital partnerships.

  • Fantail Raises ₹13.75 Cr in Seed Round to Revolutionize Surat’s MMF Ecosystem for Fashion Retail

    24th June, 2025, Surat, India: Fantail, a B2B man-made textile company designing and manufacturing products for enterprise fashion retail, has raised $1.6Mn in a seed funding round led by Riverwalk Holdings, Incubate Fund Asia & All in Capital. Founded in 2023 by a seasoned entrepreneur, Ramya Iyer, Fantail aims to be the first MMF brand out of Surat, the world’s second-largest ecosystem for man-made fibres and textiles. The company aims to use the funds for building capabilities, processes, and talent required to streamline its design and manufacturing operations in the Surat MMF ecosystem.

    Fantail works at full depth with weavers, mills, processors, and value addition units to design, develop, and build products for fashion retail brands. Fantail’s supply chain is integrated across player,s right from the yarn stage to the final garment stage. This deep integration not only helps streamline operational and capital efficiency but also creates a mutually beneficial model, where SMEs in the value chain get consistent growth and scale, while Fantail builds a reliable, future-ready supply chain to serve the growing needs of organized fashion retail.

    With the infusion of this capital, Fantail plans to make strategic investments across multiple fronts, including processes and machinery investments in its partner weavers, mills, and processors in Surat, the development of backend technologies to streamline operations, and the acquisition of talent, particularly in design, quality, and technical domains. 

    The MMF industry in Surat is the second-largest globally, valued at over $40 billion. Traditionally geared towards unorganized retail, the sector is now seeing a shift with the rise of organized fashion retail in India. Fantail’s model aims to bridge this gap by organizing, streamlining, and scaling textile manufacturing through close collaboration with the region’s SMEs, a move that positions the company to serve not only the Indian market but eventually fashion brands across Asia and MENA. 

    Ms Ramya Iyer, Founder of Fantail, said, “In B2B, timing is of great significance. I have personally worked with the Surat ecosystem for a decade, and I think in the coming few years, we will see a lot of action in manufacturing 2.0 here. If we solve for the operational hurdles in scale and keep a strong focus on capital efficiency, we can truly harness the power of this ecosystem.” She further added, “I believe Fantail is at the right time, at the right place.  With the right team, we can truly build a valuable MMF brand from Surat. We’re fortunate to have investors who are patient and understand our approach and this space well.”

    Jai Sumer Singh, Founder & Managing Partner, Riverwalk Holdings, said, “Despite the massive MMF market in Surat, there’s no company that’s built a brand which stands for quality, trust, and forward-thinking design. We saw Fantail stepping in to bridge this gap by standardizing the fragmented supply chain and building proprietary designs with a customer-first mindset, and are excited to back them.”

    “Fantail is serving a vast yet fragmented value chain of finished textiles, catering to retailers, exporters, and manufacturers. Fantail’s integrated supply chain solutions enable them to provide a faster, more reliable source of supply, ensuring seamless operations across the industry. We are excited to partner with Ramya and team with a sharp focus on digitizing the supply chain for the textile industry and unlocking new efficiencies,” added Rajeev Ranka, Partner at Incubate Fund Asia.

    “Fantail is going after one of the largest and most under-digitized sectors in India—Surat’s $40B MMF ecosystem. The opportunity to organize and modernize this supply chain for enterprise retail is massive. What gave us conviction was not just the scale, but Ramya’s rare combination of deep domain experience and relentless execution. Her clarity, energy, and sharp understanding of the ecosystem stood out. We believe Fantail has all the ingredients to build a foundational B2B company from India.”, quoted Mr Aditya Singh, Partner, All In Capital.

    About Fantail

    Fantail is a B2B man-made textile company based in Surat, India, that designs and manufactures fabrics for enterprise fashion retail. Built on the backbone of SME weavers and mills in Surat, Fantail brings structure, technology, and scalability to the traditionally unorganized MMF ecosystem. The company serves brands across value, premium, and luxury segments, with a vision to build a globally recognized MMF brand from India.

  • Daily Indian Funding Roundup and Key News – 23 June 2025: EVs, Biotech, and Strategic Moves Lead the Way

    Here’s a quick roundup of the key startup fundings in India on 23rd June 2025. From biotech to co-living and EV infrastructure, startups across sectors attracted strong investor interest.

    Daily Indian Startup Funding Digest (23 June 2025)

    Startup Sector Funding Amount Stage Key Investors Location
    Truliv Co-living Undisclosed (Strategic) Strategic BCCL (Bennett, Coleman & Co. Ltd) Chennai
    Rabitat D2C (Baby Products) ₹40 crore (~$4.8 M) Series A DSG Consumer Partners, Saama Mumbai
    InCred Holdings Fintech ₹250 crore (~$30 M) Stake Sale Kamath Brothers (Zerodha founders) Mumbai
    Kazam Cleantech / EV Infra $6.2 million Series B Avaana Capital, Quantum Energy Bengaluru
    Utopia Therapeutics Biotech $1.5 million Seed Globizz Capital, angel syndicates Hyderabad
    EKA Mobility EV Manufacturing ₹200 crore (~$24 M) Convertible Pref. Enam Holdings Pune

    Truliv Receives Strategic Investment from BCCL

    Chennai-based co-living startup Truliv has secured a strategic investment from Bennett, Coleman & Co. Ltd (BCCL). Though the investment amount remains undisclosed, this partnership is expected to boost Truliv’s media visibility and brand equity as it expands across southern India.

    Rabitat Raises INR 40 Cr in Series A

    Mumbai-based D2C baby products brand Rabitat has raised INR 40 crore in its Series A round led by RPSG Capital Ventures and DSG Consumer Partners. The brand plans to utilise the funds to enhance product innovation, marketing efforts, and expand distribution channels across India.

    Kamath Brothers Acquire INR 250 Cr Stake in InCred Holdings

    Nithin Kamath and Nikhil Kamath, founders of Zerodha, have acquired an INR 250 crore minority stake in InCred Holdings, marking a major move into India’s growing lending and financial services market. The acquisition is part of InCred’s broader strategy to strengthen its capital base and scale operations.

    Utopia Therapeutics Raises $1.5 Million in Seed Round

    Hyderabad-based biotech startup Utopia Therapeutics has raised $1.5 million in seed funding from Whale Tank.

    EKA Mobility Raises INR 200 Crore via Convertible Preference Shares

    Pune-based EV manufacturer EKA Mobility has raised INR 200 crore through convertible preference shares, with Enam Holdings leading the investment. The funds will be used to expand its manufacturing facilities and boost production of electric buses and commercial vehicles.

    Kazam Secures $6.2 Million Series B Funding

    Electric vehicle infrastructure platform Kazam has raised $6.2 million in Series B funding. The round saw participation from Avaana Climate Fund, Quantum Energy, and other investors. The Bengaluru-based startup will use the capital to bolster its tech stack and scale EV charging networks pan-India.

    Kazam Raises $6.2 Million to Expand EV Charging Globally
    Kazam, India’s fastest-scaling EV energy-tech company, has raised $6.2 million in Series B funding from the International Finance Corporation (IFC) and existing investors Vertex Ventures SEA & India and Avaana Capital Advisors.
    StartupTalkyStartupTalky News

    Key News Highlights – 23 June 2025

    Meesho completes reverse-flip merger, DRHP expected soon

    Meesho has finalised its reverse-flip structure, merging its U.S. entity with the Indian arm following National Company Law Tribunal nod. The SoftBank-backed firm will now be fully headquartered in India, paying an estimated $280–300 million in U.S. taxes. A Draft Red Herring Prospectus is expected to be filed within 2–3 weeks as part of its pre-IPO process.

    PharmEasy founders launch ‘All Home’ at $120 million valuation

    Dharmil Sheth, Dhaval Shah and Hardik Dedhia, co-founders of PharmEasy, have pivoted into home improvement, launching All Home, a tech-driven, omni-channel platform for interior design and home renovation. The platform has raised an undisclosed sum at a $120 million valuation, led by Bessemer Venture Partners with support from several prominent angels.

    PhonePe preparing $1.5 billion IPO, draft papers expected by August

    Reuters and Bloomberg report that PhonePe, India’s leading digital payments platform owned by Walmart, is preparing for an IPO that could raise up to $1.5 billion at a valuation close to $15 billion. Filing of the draft prospectus is anticipated by August, with Kotak Mahindra, JPMorgan Chase, Citi, and Morgan Stanley on board as advisers.

    Prosus values IPO-bound Urban Company at $2.4 billion

    In its FY2025 annual report, Prosus, which holds a stake in services platform Urban Company, has pegged its fair valuation at $2.4 billion ahead of its planned IPO. This consensus reflects investor optimism in the home-services sector

    Stay tuned with StartupTalky for your daily dose of startup funding and news highlights.

    Indian Startup Funding Updates for 2025 (Updated Weekly)
    Get weekly updates on Indian startup funding for 2025! StartupTalky is here to provide you with a clear and simple overview of the latest funding news.
    StartupTalkyApoorva Bajj

  • Kazam Secures $6.2 Million in Series B from IFC & Others to Boost Global EV Charging Infrastructure

    Kazam, India’s fastest-scaling EV energy-tech company, has raised $6.2 million in Series B funding from the International Finance Corporation (IFC) and existing investors Vertex Ventures SEA & India and Avaana Capital Advisors. The investment will fuel Kazam’s expansion across markets with its energy transition tools to accelerate the adoption of sustainable mobility. 

    This latest round brings Bengaluru-headquartered Kazam’s total capital raised to $19.2 million, including $13 million in equity funding in past rounds led by Avaana Capital Advisors, Vertex Ventures SEA & India, and Chakra Ventures. 

    “Kazam is building the digital infrastructure for EVs at scale, something that’s critical as the world transitions to clean mobility,” said Akshay Shekhar, CEO and Co-Founder, Kazam. “IFC’s backing signals confidence in our platform’s potential to decarbonize transport, especially across emerging markets.” 

    “EVs are key to accelerating India’s economic growth and energy transition. However, limited charging infrastructure remains a challenge. Our investment in Kazam aligns with IFC’s strategy to catalyze the growth of the electric mobility ecosystem. It will help scale the EV ecosystem and expand access to charging infrastructure, supporting the broader adoption of clean transportation across the country,” said Wendy Werner, Country Head, India and Maldives, IFC.

    “We’re extremely happy to welcome IFC as a co-investor in Kazam and strongly believe their global network and experience can help take the company to greater heights. This round is a testament to Kazam’s vision of increasing EV penetration globally, best-in-class full-stack ‘charging-in-a-box’ platform, marquee customer base and the team’s strong execution capability. As Vertex Ventures, we remain excited about the endless prospects for Kazam, and have participated in this round as well.” Said Nikhil Marwaha, Senior Executive Director, Vertex Ventures Southeast Asia & India.

    “Kazam is building the energy gateway for mobility. Kazam’s approach to building a scalable, interoperable digital ecosystem for EV ecosystem is what the sector needs for steady growth and widespread adoption. We invested in Kazam because of their technology prowess and razor sharp focus on execution to address the unique challenges of this emerging market. As EV adoption accelerates globally, Kazam will play a pivotal role in shaping the digital backbone of the future of mobility,” said Swapna Gupta, Partner, Avaana Capital.

    Kazam has seen rapid growth, with revenues rising 4X from $1.5 million in FY24 to $6 million in FY25, and targets $12 million in revenue this fiscal, with EBITDA positivity in sight.

    Today, Kazam has onboarded over 68,000 chargers, enabled 5 million+ charging sessions, and facilitated 45 GWh of energy, resulting in 46,000 tons of CO₂ avoided. Just last month, the platform powered 25 million electric km across 80 cities and 10 countries. 

    This funding marks a pivotal moment as Kazam scales its technology and reach, bringing reliable, accessible EV charging to the forefront of the global energy transition. 

    About Kazam

    Launched in 2020, Kazam is a pioneering e-mobility startup that offers device-agnostic solutions to  EV charging & battery swapping operators, vehicle OEMs, fleet operators, and electricity grid companies. Through its innovative software and hardware solutions, Kazam empowers operators and vehicle owners to control, manage, and analyse their charging assets, effectively addressing the critical issue of range anxiety and making EV charging more accessible across India.

    The company was co-founded by Akshay Shekhar, CEO, and Vaibhav Tyagi, CTO, with a vision to revolutionise the EV landscape globally. Kazam is also a Founding Alliance Member of the Unified Energy Interface (UEI), a UPI-like software for the energy sector, powered by the Beckn Protocol.

    About IFC

    IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2024, IFC committed a record $56 billion to private companies and financial institutions in developing countries, leveraging private sector solutions and mobilising private capital to create a world free of poverty on a livable planet.

    About Vertex Ventures Southeast Asia & India

    Vertex Ventures Southeast Asia & India is a leading early-stage venture capital firm focused on partnering with high-growth startups across Southeast Asia and India. With a strong network and strategic expertise, they have invested in successful companies such as Grab, FirstCry, Nium, Licious, Kuku FM, and PatSnap, driving innovation and scaling businesses across various sectors.

    About Avaana Capital

    Founded in 2018, Avaana Capital invests in and supports exceptional deep tech entrepreneurs and startups leveraging frontier innovation to pioneer globally competitive solutions in Energy, Supply Chains, Food and Agriculture and Advanced Materials.

    To date, Avaana has made high-conviction investments in pioneering startups including GreenGrahi (insect biotech platform), High Time Foods (shelf-stable plant protein), Eeki Foods (climate resilient precision agriculture), Dreamfly (specialised thermal battery management solutions for drones), Kazam ( interoperable EV charging platform), Eggoz (India’s largest packaged egg brand), Farmart (SaaS-B2B platform for food aggregation and distribution), and Amperehour (modular plug-and-play battery storage solutions)- each building cost-competitive, future-ready solutions from India for the world.

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