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  • Speciale Invest Announces ₹600 Crore Close of Fund III to Back India’s Deep-Tech and Sovereign-Tech Future

    India, 12th August 2025: Speciale Invest, one of India’s leading deep-science and technology-focused venture capital firms, today announced the close of its third fund at ₹600 crore, exceeding its initial target of ₹500 crore. Fund III will support 18–20 new investments between 2025 and 2029, continuing the firm’s sharp focus on founders building from first principles in space, advanced manufacturing, energy, health, and artificial intelligence.

    With Fund III, Speciale has evolved to become one of the largest funds in India investing at the pre-seed stage in deep-tech. This scale allows the firm to lead early rounds, take meaningful positions, and support founders through long gestation cycles inherent to hard-tech ventures.

    The closing of Fund III comes as India celebrates its 79th Independence Day—a fitting milestone for a fund dedicated to strengthening the nation’s sovereign capabilities and global standing through technology.

    Since its inception in 2018, Speciale Invest has been the first institutional investor in several of India’s category-defining deep-tech startups. These include Agnikul Cosmos (orbital-class launch vehicles), the ePlane Company(electric aerial mobility), GalaxEye (multi-sensor satellite intelligence), QNu Labs (quantum cybersecurity), Fermbox (synbio for industrial bioprocessing), Inspecity (in-orbit infrastructure), and Newtrace (next-gen electrolyzers), among others. The firm has consistently backed companies that build for India and scale to the world, establishing itself as the go-to partner for pioneering founders in deep science and tech.

    Why Sovereign Edge Matters

    In an era marked by rapid technological disruption, supply chain realignments, and geopolitical complexities, the ability of a nation to independently design, develop, and deploy critical technologies is a strategic imperative. Sovereign edge is not just about self-reliance—it is about resilience, security, and global competitiveness.

    For India, this means building capabilities in space-based infrastructure, secure communications, quantum technologies, advanced manufacturing, clean energy, and dual-use defense innovations—technologies foundational to economic stability and national security. The COVID-19 pandemic, semiconductor shortages, and conflicts that disrupted global supply chains have underlined the risks of over-dependence on external sources for critical technologies. 

    Speciale’s Decade-Long Commitment

    Long before “sovereign tech” entered mainstream policy discourse, Speciale Invest recognized that deep-tech innovation is strategic for India’s future. Since 2018, the firm has methodically invested in startups that can form the building blocks of India’s sovereign technology stack.

    From Agnikul’s made-in-India orbital launch vehicles that ensure independent access to space, to QNu Labs’quantum cybersecurity enabling secure communications, to Newtrace’s electrolyzers powering green hydrogen for energy independence—Speciale’s portfolio reflects a consistent commitment to nation-critical capabilities.

    This focus has also been forward-looking. Speciale has not only invested capital but also helped founders navigate policy frameworks, global certification pathways, and dual-use markets, ensuring that Indian technologies meet and exceed global standards.

    “We believe the next generation of global champions will emerge from India’s labs, R&D centers, and workshops. In a geopolitically complex and technologically interdependent world, building for India’s resilience and sovereign capabilities is not just a national imperative—it is also a generational venture opportunity,” said Vishesh Rajaram, Managing Partner, Speciale Invest.

    “Deep-tech represents one of the most exciting frontiers for venture capital in India. The combination of world-class technical talent, increasing policy support, and global market access has created an unprecedented window to back companies solving some of humanity’s most complex challenges from India,” said Arjun Rao, Partner, Speciale Invest.

    The Road Ahead with Fund III

    Speciale Invest’s differentiated approach centers on being the first believer in companies building hard technologies with real-world impact. With Fund III, the firm will double down on sovereign-tech and deep-tech bets—across space-tech, dual-use defense innovation, frontier computing, and sustainable energy—while ensuring these innovations are globally competitive from day one.

    The fund is backed by a strong base of returning LPs including family offices, institutions, and strategic investors, all of whom share the long-term conviction in India’s deep-tech potential.

    As India emerges as a critical node in the global technology stack, Speciale Invest Fund III will ensure that Indian founders have the capital, conviction, and compounding partnerships needed to build breakthrough companies—at home and for the world.

    About Speciale Invest 

    Founded in 2017 by visionary leaders Vishesh Rajaram and Arjun Rao, Speciale Invest is a seed-stage venture capital firm dedicated to empowering deep tech founders who tackle complex global challenges. With a commitment to investing at the pre-seed and seed stages, the firm passionately focuses on five transformative themes such as Energy transition and planetary health, driving innovations in batteries, hydrogen, and materials; Advanced manufacturing and industrial modernization, spearheading advancements in robotics and semiconductors; Beyond Earth and space technology, exploring the frontiers of satellites and launch systems; Advanced software and computing, unlocking the potential of AI/ML infrastructure and quantum computing; Biosciences, pioneering breakthroughs in synthetic biology, bioengineering, and life sciences.

    By merging capital with profound technical and strategic support, Speciale Invest is on a mission to nurture and elevate globally relevant companies that emerge from India.

  • Fairdeal Raises $3M in Pre-Series A Funding led by Incubate Fund Asia & Waterbridge Ventures

    12 August 2025, Delhi NCR: Fairdeal.Market, India’s first B2B quick commerce platform, has raised $3 million in a Pre-Series A funding round led by Incubate Fund Asia and Waterbridge Ventures & prominent angel investors. The funds will be deployed to deepen technology moat, expand into new zones in Delhi-NCR, and onboard more D2C and regional “hero” brands. 

    Fairdeal, through its tight data-backed operations, has established a low-burn, capital-efficient model with robust unit economics.  As a result, within a year of its operations, the company is approaching $10M ARR. Co-founded by Prateek and Yash Bansal, brothers hailing from Jaipur. Fairdeal is built on a clear mission to empower micro-retailers and enable their transition into the digital retail economy.

    “India’s kirana stores are no longer just adapting to the digital economy – they’re actively defining it. B2B quick commerce is unlocking a new era of leverage, where speed, data, and precision form the real moat. At Fairdeal, we combine instant delivery with intelligent demand sensing to ensure retailers get exactly what they need, exactly when they need it – no overstocking, no capital stuck on shelves.  For the first time, retailers are operating with real-time supply chains, behaving like modern, asset-light businesses. And yes, with Fairdeal, they finally feel like kings-in-control, well-stocked, and ready to grow,” said Prateek Bansal & Yash Bansal, Co-founders, Fairdeal

    Fairdeal believes that small retailers are the backbone of offline distribution in India and are irreplaceable. It is aiming to empower them and help them earn better and build a platform of highly loyal 1,00,000 retailers over the next 3 years. This can provide a path of non-linear gains to Fairdeal and achieve an ARR $150M. At a time when most of the technology distribution models are focused on shifting market share away from these retailers, Fairdeal is aligning with them by providing cloud inventory of over 1000+ SKUs, and discovery of upcoming brands with better margins.

    “We are pleased to announce our partnership with Fairdeal, a company building a robust B2B quick commerce infrastructure to serve over 13 million micro-retailers across India. Their model is powered by high-velocity fulfillment, data-driven analytics, and a curated assortment of SKUs tailored to market demand. We are particularly impressed by the exceptional execution capabilities demonstrated by Prateek and Yash, who have rapidly scaled operations while achieving industry-leading margins in a short span of time.”, said Rajeev Ranka, Partner at Incubate Fund Asia. 

    “Offline retail is data dark, traditionally opaque, and capital-intensive. By building cart-level transparency, Fairdeal provides insights on SKU velocity, performance of marketing campaigns, and potential whitespaces. We are seeing that this data is of immense value to MNC/National, Regional, and D2C brands in equal measure”, said Ashish Jain, Partner, WaterBridge Ventures

    With new funding, Fairdeal is positioned to become the de facto operating system for India’s micro retailers and brands – quick replenishment on the front end, a compounding data flywheel on the back.

    —

  • Weaver Services Completes Acquisition of Capital India Home Loans After Regulatory Approval

    Mumbai, August 12, 2025 – Weaver Services Private Limited (Weaver) today announced the successful completion of its 100% acquisition of Capital India Home Loans Limited (CIHL), following receipt of all necessary regulatory approvals. This marks a significant milestone in Weaver’s mission to build a next-generation, tech-driven affordable housing finance company.

    The ₹267 crore transaction was funded through equity raised from Premji Invest, Gaja Capital, and a group of distinguished individual investors. Capital India was advised on the deal by Sanjeev Lall and Devesh Kumar of EIP Financial Services LLP, and Sunil Shukla of CC Chokshi Advisors, while AZB & Partners were legal advisors to the deal on behalf of Weaver Services.

    This follows Weaver’s October 2024 announcement of its intent to acquire CIHL, signalling the company’s strategic roadmap to enter India’s affordable housing finance market. With the deal now closed, Weaver is moving quickly to launch a tech-led affordable housing finance platform targeting self-employed individuals in the unorganised sector, particularly in Tier 2 and Tier 3 towns. The company will place special emphasis on financial inclusion for women borrowers, who often face systemic challenges in accessing credit from traditional lenders.

    Reflecting on this milestone, Satrajit Bhattacharya, Promoter of Weaver Services, said, “Through this strategic acquisition, Weaver is poised to establish its market presence and drive meaningful change by delivering customized financial solutions tailored to the unique needs of our diverse customer base. Closing this acquisition with all approvals in place transforms our intent into action. We can now focus entirely on execution, building a platform that offers fair, fast, and accessible housing finance to those historically excluded from the system. We would like to thank our investors, the Capital India team, and their advisors, especially Mr. Sanjeev Lall, for their support in completing the transaction.”

    Keshav Porwal, Managing Director of Capital India Finance Limited, emphasized the strength of the transition, stating, “We are pleased that both the business and the team at Capital India Home Loans Limited have found a strong new home in Weaver. This handover marks a new chapter for CIHL and its team. Weaver brings the vision and capabilities needed to accelerate growth, expand reach, and deliver meaningful social impact in housing finance. We are confident they are well-positioned for future growth and impact. 

    Backing Weaver’s next phase of growth, Saravanan Nattanmai, Partner at Premji Invest, highlighted the opportunity ahead , “At Premji Invest, we see a significant opportunity to leverage technology to transform India’s affordable housing finance sector. With the transaction closed and regulatory clearances secured, Weaver is ready to move at speed. The acquisition of Capital India Home Loans marks an important first step toward delivering frictionless, scalable, and inclusive mortgage solutions for underrepresented segments. This investment reflects our commitment to backing differentiated and innovative platforms that use technology to drive meaningful, long-term impact in financial services.”

    Sharing a similar outlook, Gopal Jain, Managing Partner at Gaja Capital, pointed to Weaver’s strong market positioning  “Weaver is addressing a deep-rooted gap in India’s housing finance ecosystem with a tech-led, customer-first approach. Their sharp focus on the self-employed segment, combined with disciplined execution, positions them well to lead the next phase of inclusive growth in financial services. Strategically, Weaver is well-placed to close a longstanding gap in the market and emerge as a leader in the next wave of inclusive financial growth.”

    With this acquisition complete, Weaver Services is set to scale rapidly and reshape India’s affordable housing finance sector. Combining technology with deep local market insight, the company aims to deliver lasting impact for communities that have historically been underrepresented.

    Capital India Finance Limited (NSE & BSE: CIFL | 530879 | INE345H01024) is a non-deposit taking Middle Layer NBFC registered with the Reserve Bank of India. It offers customized credit solutions to micro, small and medium enterprises, professionals, and retail customers, combining strong underwriting expertise with a phygital operating model.

  • Sorin Investments Leads $1.9M Pre-Seed Round in Spike AI

    Spike AI, the startup building the first autonomous marketing intelligence system, today announced $1.9 million in pre-seed funding led by Sorin Investments, a VC firm co-founded by Sanjay Nayar and Angad Banga, with co-investment from Bay Area-based Principal Venture Partners and strategic participation from investors including GSI.

    Founded in 2024 by Deepesh Kumar and Shrestha Pratik, Spike AI replaces fragmented marketing tools and guesswork with a single, self-driving platform. Spike’s MAGI platform operates like an elite growth team analyzing channels, identifying friction, and deploying improvements in real-time.

    “The trillion-dollar marketing industry doesn’t need more dashboards and tools; it needs intelligent orchestration,” said CEO Deepesh Kumar. “Spike AI delivers a 24/7 AI growth team, shipping measurable outcomes 10x faster.”

    Deepesh and Shrestha combine decades of expertise in growth and generative AI. Deepesh previously led growth and experimentation at multiple tech companies, while Shrestha, a generative AI leader, was team lead at Meta and drove data-led growth at FICO and Swiggy.

    “A lot of current AI focuses on speeding up old habits,” said Shrestha Pratik, CTO of Spike AI. “But what if those habits were never ideal? Spike AI’s MAGI is marketing’s AlphaGo: adaptive, explainable, relentless.”

    Early Spike AI customers have achieved over 40% conversion increases. One early user even offered to acquire Spike before joining the funding round.

    “Spike AI isn’t just another SaaS tool. It’s the first real attempt at building a ‘marketing brain’ that can replace bloated agency workflows and instinct-driven marketing with measurable, intelligent growth,” said Mandar Dandekar, Partner at Sorin Investments. “We’re excited to back a bold, technically sound team that’s not just building software but reimagining the very foundation of how marketing works in the AI age.”

    “What drew us to Spike AI was its first-principles approach to a broken system,” said Dr. Songyee Yoon, Managing Partner of Principal Venture Partners. “They aren’t just adding AI to marketing. They’re building an entirely new paradigm. We believe Spike AI’s technology has the potential to be as fundamental to marketing as Salesforce’s was to CRM.”

    This funding accelerates MAGI’s default operation system approach across websites, paid media, SEO, email, and influencer marketing.

    About Spike AI

    Spike AI enables every business to tell their story clearly, powerfully, and at scale by replacing marketing guesswork with autonomous intelligence. Founded by Deepesh Kumar and Shrestha Pratik, and advised by top experts from HubSpot and Meesho, Spike AI combines deep marketing expertise, cutting-edge AI, and a relentless focus on results.

  • Seeds Fincap Raises ₹50 Crore Pre-Series B Led by Z47 and Lok Capital, Sets Stage for Series B

    Mumbai, India,12th August 2025 : Seeds Fincap Pvt Ltd, a high-growth NBFC delivering credit to underserved MSMEs, has raised ₹50 crore in a Pre-Series B round led by existing investors Z47 and Lok Capital. New investors Norinchukin Capital and Alteria Capital join the cap table, marking a strong mix of continued conviction and fresh backing ahead of Seeds’ planned Series B launch.Unitus Capital has been appointed as the advisor for Series B fundraise.

    Seeds Fincap, started in 2021 under the leadership of Subhash Chandra Acharya and Avishek Sarkar, is closing India’s ₹30 trillion MSME credit gap by building a differentiated institution through a network of 120 branches across 8 high-growth states. The model is anchored in sharp credit underwriting, data-led operations, and a deep understanding of the realities faced by small business owners—and has consistently delivered superior asset quality.

    Seeds closed FY 2025 profitably through a combination of discipline and scale. The company has disbursed over ₹1,000 crore in loans, now manages over ₹500 crore in assets, and has maintained NPAs consistently below 2%. Its cash flow-based underwriting, combined with tech-enabled sourcing to collections, allows for high-velocity lending with robust risk controls. Its branches have reached over 50,000 borrowers, many of whom are first-time formal credit recipients—unlocking capital for working capital, business expansion, and livelihood stability.

    Seeds is also building a well-diversified loan book, with Loan Against Property (LAP) expected to contribute nearly 20% of AUM in the near term.

    Subhash Chandra Acharya, Managing Director and Co-Founder of Seeds Fincap added:
    “We see MSME lending not just as financing, but as enabling India’s economic backbone. Our approach—combining advanced analytics, strong field control, and full-stack digitization—allows us to lend responsibly at scale. This round is a strong validation of our model and positions us well for our upcoming Series B.”

    Avishek Sarkar, Director and Co-Founder of Seeds Fincap, added:
    “Serving MSMEs means solving complexity with empathy. We’ve built a culture of execution and contextual intelligence, and we’re seeing that translate into real outcomes on the ground. This funding allows us to continue deepening our reach, expanding our product suite, and scaling responsibly.”

    Anish Patil, Vice President at Z47, said:
    “We are strong believers in the MSME credit opportunity in India. Seeds Fincap’s deep focus on tech-enabled field operations, strong hold on credit underwriting, coupled with rigorous portfolio monitoring and diversified presence, has helped them deliver superlative asset quality in a testing market. The company has demonstrated consistent execution across metrics and we are excited to double down and deepen our partnership. We welcome Norinchukin and Alteria to the cap table and wish Subhash and Avishek godspeed for the next phase of growth.”

    Rajat Bansal, Managing Director at Lok Capital, added:
    “Seeds is delivering the rare combination of high-quality credit, deep market reach, and real impact. In a segment often plagued by high defaults or poor customer understanding, Seeds has demonstrated strong NPA control and consistent execution across geographies. Their ability to bring underserved MSMEs into the fold of formal finance—sustainably and at scale—is what makes them stand out. We’re excited to continue partnering with them on this journey.”

    Hiroki Kawabata, Director at Norinchukin Capital, added:
    “At Norinchukin, we look for partners who can create real-world impact with lasting value, and Seeds Fincap embodies that spirit. Their work with underserved MSMEs reflects not just business potential but a genuine commitment to financial inclusion. What stands out is their ability to stay close to the ground while building scalable, tech-enabled systems. Subhash, Avishek, and the team are driving meaningful change in the sector, and we’re proud to support their vision of empowering small entrepreneurs across India.”

    Ankit Agarwal, Managing Partner at Alteria Capital, added:
    “Seeds Fincap has taken a thoughtful and mission-driven approach to solving the MSME credit gap. What we really value is their deep understanding of customer needs, combined with the discipline to scale responsibly. They’re not just building a lending business, they’re building trust at the grassroots level, one relationship at a time. The team’s ability to blend strong systems, local intelligence, and executional focus is impressive. We’re excited to be part of this journey and support them as they grow into a leading force in inclusive finance.”

    With this capital raise, Seeds will invest in expanding its footprint into new and underserved regions, strengthening its technology and risk infrastructure, and further accelerating its mission.

    About Seeds Fincap Pvt. Ltd
    Seeds Fincap Pvt. Ltd. is a Gurugram-based Non-Banking Financial Company (NBFC) dedicated to promoting financial inclusion and supporting the growth of MSMEs across India. By providing tailored financial solutions and leveraging technology, Seeds Fincap empowers small businesses to overcome financial challenges and achieve sustainable growth. With a focus on promoting the local economy and fostering entrepreneurship, Seeds Fincap is committed to making a positive impact on the communities it serves.

  • ELIVAAS Raises INR 87 Crores in Series B Funding Led by Vertex Ventures Southeast Asia & India

    National, 12th August 2025: ELIVAAS, a leading luxury vacation rental platform, has successfully raised INR 87 Crores (approx USD 10.4 Million) in its Series B funding round, led by Vertex Ventures Southeast Asia & India. Existing investors Peak XV Partners’ Surge and 3one4 Capital also participated in the round, reinforcing continued confidence in the brand’s growth trajectory and market potential. 

    Backed by its latest funding round, the company is focused on deepening its market penetration by doubling down on its presence in high-potential leisure and business travel destinations across India. ELIVAAS also aims to expand its global footprint and strengthen brand visibility in India and international markets, reinforcing its position as a leading player in the luxury vacation rental ecosystem. ELIVAAS also plans to invest in cutting-edge technology to fuel its next stage of growth, boosting operational performance, transforming the customer journey, and strengthening brand growth in an increasingly competitive market. 

    “We are thrilled to partner with Vertex Ventures SAE & India as we enter this new phase of growth and equally appreciative of the trust placed in us by our early backers Peak XV Partners’ Surge and 3one4 Capital . This round will enable us to not only grow aggressively in India but also lay the groundwork for international expansion. Our focus remains on leveraging technology to ensure seamless, high-quality experiences at scale while strengthening ELIVAAS as a trusted brand in luxury travel,” said Mr. Ritwik Khare, Founder and CEO, ELIVAAS. 

    “We see a fast growing opportunity to leverage second homes supply to provide premium travel experiences in India via alternate accommodation. Elivaas is best suited to capture this market with their technology enabled platform and obsessive commitment to customer experience, which is loved by both home owners and consumers. We at Vertex Ventures SEA & India are excited to partner with Ritwik and Karan on realizing this massive opportunity.” Nikhil Marwaha, Partner, Vertex Ventures Southeast Asia & India.

    Founded in 2023 by travel industry veterans Ritwik Khare and Karan Miglani, ELIVAAS aims to redefine second home ownership and luxury travel. In its Series A round in September 2024, the company raised $5 million, led by 3one4 Capital with participation from Peak XV Surge and angel investors. Over the last 2 years, the funding enabled ELIVAAS to enhance its proprietary technology platform, expand its operations, and launch its premium luxury brand, Privé while continuing to expand both ELIVAAS and Alaya Stays.

    The brand currently operates in 30 Indian destinations, with 5X  year-on-year growth in revenue in FY 24-25.

    The Series B fundraise marks a major milestone for ELIVAAS as it gears up to scale sustainably, backed by a strong technology foundation and a differentiated service proposition.

  • India’s Fastest Household Help App Pronto Raises $11M in Series A

    New Delhi, India | August 12, 2025: Pronto, India’s first real-time household help platform, has raised $11 million in Series A funding co-led by General Catalyst and Glade Brook Capital, with continued participation from Bain Capital Ventures (BCV). The investment underscores strong conviction in Pronto’s rapid traction and the vast white space it is addressing in India’s domestic help market. With its 10‑minute, shift‑based model for on‑demand home services, Pronto is building a new urban utility — dependable, trusted, and designed for high-frequency use — at a scale India has never seen before. 

    Domestic help in India is both ubiquitous and invisible — woven into daily life yet largely absent from the formal economy. For millions of households, finding help still depends on informal networks, uncertain availability, and unverified trust. For workers, the sector often means irregular income and little recognition. Pronto was founded in 2024 to change this equation; to bring predictability, safety, and dignity to a service everyone depends on but few have reimagined. By treating household help as critical urban infrastructure — delivered in minutes, built on training and trust — Pronto is setting a new standard for how cities manage the rhythms of everyday life. 

    “Pronto is not just another app — it’s architecting an entirely new layer of urban infrastructure for household help,” said Anjali Sardana, Founder & CEO of Pronto. “We’re tackling a sector that has remained unstructured and unreliable for decades — by offering instant, vetted help through a shift‑based model that elevates worker earnings and service trust. With this funding, we’ll deepen operations, build workforce resilience, and prove that household help can scale as a high-frequency utility in India’s most time‑strapped cities.” 

    Pronto isn’t replicating existing home‑service models; it’s redefining them. Where most platforms act as aggregators, Pronto operates on a shift‑based delivery system that gives workers predictable income and users guaranteed reliability — a first for India’s domestic help sector. Each professional undergoes rigorous training and verification and is equipped to fulfill tasks instantly, creating trust at scale in a category long driven by informal referrals. By embedding quality, speed, and dignity into a single platform, Pronto is carving out a new space in urban life — not just meeting the need for convenience, but turning household help into a high‑frequency utility that evolves with the pace of modern cities. 

    “Pronto is creating something novel for India: an infrastructure layer for domestic help that brings structure to traditionally informal markets,” commented Neeraj Arora, Managing Director at General Catalyst. “Anjali demonstrates the obsessive focus, clarity of thought, and large-scale vision with urgency that defines what we believe to be exceptional founders. This shift-based model creates predictable incomes for workers while delivering reliability for households, representing the infrastructure-building companies we back: those creating new economic frameworks across India’s expanding urban centers.” 

    “Pronto’s execution across product and growth is exceptional,” said Paul Hudson, Founder & CIO at Glade Brook Capital. “Anjali and the Pronto team are building stakeholder trust and customer delight through operational excellence and speed. Pronto is not another home-help app – it’s rapidly becoming a consumer infrastructure platform that delivers meaningful work opportunities and helps meet the daily needs of urban families.” 

    Commenting on Bain Capital Ventures’ early investment in Pronto and their continued participation in this round, Ajay Agarwal, Partner, Bain Capital Ventures said, “When we first invested in Pronto at the seed stage, we saw a rare chance to formalize a service millions depend on yet few had reimagined. In just a few months, Anjali and team have proven that this model can scale — delivering high‑frequency, real‑time help to households while elevating incomes for workers. Our continued support reflects our belief that Pronto is defining a new category of urban utility for India.” 

    With this milestone, Pronto is accelerating its vision of making household help as seamless and dependable as any other modern utility. Over the next 12-18 months, the company will expand beyond Gurgaon into Mumbai, Bengaluru, and other metros, establishing micro‑hubs across key residential clusters to guarantee sub‑10‑minute fulfillment at scale. The funding will also support the onboarding and training of 10,000 additional professionals, investment in quality‑assurance systems, and rollout of real‑time operations technology that powers Pronto’s shift‑based model. By bridging reliability for families and stability for workers, Pronto is redefining how urban India manages the essentials of daily life — and setting the standard for a category poised for nationwide impact. 

    About Pronto 

    Pronto is reimagining domestic help for urban India with its 10‑Minute Househelp App. Launched in 2024 by Anjali Sardana, Pronto connects households with trained, background‑verified professionals for everyday tasks — from cleaning and laundry to utensil washing and basic meal prep — delivered on demand, any time of day. Operating on a hyperlocal hub‑and‑spoke model, Pronto ensures speed and reliability while offering workers guaranteed shifts, higher earnings, and access to benefits often absent in the informal sector. 

    Backed by Bain Capital Ventures, General Catalyst, and Glade Brook Capital, Pronto blends technology, operations, and worker welfare to bring structure to a long‑fragmented industry. The result is a service that not only simplifies daily living for families but also creates dignified, well‑paying opportunities for thousands of domestic workers. 

  • Elever raises USD 1.1 Million in Pre-Series A Round

    Elever, a SEBI-registered Portfolio Management Services (PMS) firm, has raised USD 1.1 million in a pre-series A funding round to fuel its next phase of growth. 

    Elever’s quantitative PMS strategies leverage rule-based and factor investing to deliver superior, risk-adjusted returns. By combining data-driven insights with a systematic investment process, the platform aims to bring institutional-grade portfolio management to a wider base of individual investors and family offices.

    The round saw participation from CXOs of global companies, Brand Capital (the strategic investment arm of The Times of India Group), along with existing investors and promoters. This latest round brings Elever’s total funding to USD 4 million to date.

    The capital will be deployed to scale Elever’s PMS business, strengthen its brand presence, and deepen investor engagement. The partnership with Brand Capital is expected to play a pivotal role in enhancing Elever’s visibility and building trust among India’s new-age affluent, including HNIs, founders, entrepreneurs and next-generation investors, through its rule-based, tech-driven investment strategies.

    “We see Elever as a frontrunner in the evolution of wealth-tech, leveraging automation and factor investing to deliver consistent, risk-adjusted outcomes. Elever’s technology-led, rule-based approach to portfolio management reflects the future of investing in India. Their focus on data, discipline, and disruption aligns well with our belief in backing scalable, transformative fintech companies. We at Brand Capital are delighted to support their next phase of growth through our investment,” said Mr. Srini Vudayagiri – President & Head of Brand Capital.

    India’s wealth management market is projected to grow from US$1.1 trillion in FY24 to US$2.3 trillion by FY29, with an unmet demand of US$0.4 trillion, according to Deloitte’s ‘Financial Wealth Management Services in India’ report. In parallel,  PMS AUM in India has nearly tripled since FY17, reaching around US$445–450 billion by March 2025, reflecting strong investor traction towards disciplined, factor-based and tech-enabled portfolio management solutions like Elever’s.

    Anshul Sharan, Co-founder and CEO of Elever, added: “This funding round comes at a pivotal time as we double down on our PMS offering. Backing from Brand Capital and leading CXOs validates our vision to make institutional-grade, factor-based investing accessible to individuals & family offices — both in India and abroad (NRIs/FPIs). This is not just capital — it’s strategic support to build long-term credibility and scale.” 

    Anshul brings deep expertise in strategy, product, and risk management. Previously, he served as Head of Strategy at CreditAccess Grameen, where he was instrumental in leading the company’s IPO in 2018 and later became its Chief Risk Officer.

    In July this year, Elever launched Factorcapro PMS, India’s first PMS strategy designed to provide monthly income and capital protection, primarily targeting retirees & conservative investors. The offering has already seen strong demand from both investors and distributors. 

    Elever is now targeting to cross ₹1,000 Cr in AUM within the next two years, and plans to raise a Series-A round within the next 12 months to further accelerate product innovation, distribution, and team expansion.

    About Elever

    Founded in 2020 by industry veterans Anshul Sharan, Karan Aggarwal, Ram Subramaniam, and Santosh R., Elever is a Bengaluru-based SEBI-registered Portfolio Manager. Elever leverages rule-based investing and machine learning to drive significant, and sustainable alpha generation. With an ambitious target of achieving ₹1,000 crore in AUM within the next two years, Elever is committed to empowering investors with tailored investment solutions to meet their sophisticated financial goals.

  • Daily Indian Funding Roundup & Key News – 11 August 2025: Truemeds Raises $85M, Graas.ai Secures $9M, Tesla Charging Expansion & More

    India’s startup and business ecosystem saw a mix of high-value funding deals, strategic investments, and notable corporate developments on 11 August 2025. From multi-million-dollar raises in AI, biotech, and e-commerce to IPO market activity, EV infrastructure expansion, and regulatory updates, here’s your quick roundup for the top funding deals and key business highlights in India today.

    Daily Indian Funding Digest – 11 August 2025

    Company Round / Type Amount (local / USD) Lead investor(s) Sector
    Graas.ai Pre-Series B $9.0 million Tin Men Capital (lead) Commerce / AI
    Eyestem Research (Eyecyte-RPE™) Oversubscribed funding round $10.0 million Existing + strategic investors (not fully named) Clinical-stage biotech / cell therapy
    Truemeds Series C (closed in two tranches) $85.0 million Accel; Peak XV Partners E-pharmacy / telehealth
    Neuralzome Cybernetic Pre-seed $2.4 million 8X Ventures (lead) Deeptech robotics / autonomy
    FincFriends Debt funding (tranche) Rs 41.5 crore (debt) Existing lenders (IBL Finance, Moneywise, others) NBFC / digital lending
    Limelight Lab Grown Diamonds Strategic investment / ambassador appointment Undisclosed (Shilpa Shetty invested) Shilpa Shetty (strategic investor & brand ambassador) Jewellery / lab-grown diamonds

    Graas.ai – $9.0M pre-Series B for agentic commerce growth

    Graas.ai, an AI-native commerce data and automation firm, raised over $9 million in a pre-Series B round led by Tin Men Capital, with participation from Incred Wealth, Orzon and existing backers including Integra Partners and Yuj Ventures. The company says the capital will accelerate its Agent Foundry product and regional expansion across India and Southeast Asia.

    Eyestem Research – $10.0M to advance Eyecyte-RPE™ (Phase 2 / US IND prep)

    Clinical-stage biotechnology company Eyestem Research Pvt Ltd secured an oversubscribed funding round totalling $10 million to complete its ongoing Phase 2 trial for Eyecyte-RPE™ in India and to prepare for a US FDA IND filing. Company statements highlighted promising Phase 1 safety and early efficacy signals and said proceeds will support trial completion and regulatory readiness.

    Truemeds – $85.0M Series C (closed in two tranches)

    Mumbai-based e-pharmacy and telehealth platform Truemeds has closed a $85 million Series C, led by Accel and Peak XV Partners; the round was completed in two tranches and included participation from WestBridge Capital and Info Edge Ventures. The company plans to expand fulfilment centres in non-metro areas, scale product and engineering teams, and roll out diagnostics services and an iOS app. Financial context reported: Truemeds doubled revenue to INR 315 crore in FY24 while narrowing losses.

    Neuralzome Cybernetic – $2.4M pre-seed to build no-code teachable agents for robots

    Bengaluru-based deeptech startup Neuralzome Cybernetic raised $2.4 million in a pre-seed round led by 8X Ventures, with participation from Turbostart, Avinya Ventures, Saka Ventures, Appreciate Capital, Astir Ventures, IIM-Ahmedabad’s CIIE, SIDBI and Heston Castelino. The funds will support R&D in multi-agent autonomy, vision-based navigation, manufacturing scale-up and expansion to North America and Europe. The company follows a Robot-as-a-Service model.

    FincFriends – INR 41.5 Cr debt facility to grow lending in smaller towns

    RBI-registered NBFC FincFriends raised INR 41.5 crore of debt from existing investors (including IBL Finance, Moneywise Financial Services, Usha Financial Services, Shine Star Build Cap, Realtouch Finance and UC Inclusive Credit) in Q1 of FY26. The company said the capital will be used to scale lending through its RupeeRedee platform, focusing on Tier-II and Tier-III markets.

    Limelight Lab Grown Diamonds – Shilpa Shetty onboarded as investor & brand ambassador

    Mumbai-based jeweller Limelight Lab Grown Diamonds announced that actor-entrepreneur Shilpa Shetty has joined as a strategic investor and brand ambassador. Limelight currently operates over 50 stores across more than 45 Indian cities and intends to scale to 100 stores by 2026. Earlier fundraising in February 2025 saw nearly $11 million (INR 90 crore) raised; this recent Shilpa Shetty investment was not disclosed in monetary terms.

    Key News Highlights for 11 August 2025

    BlueStone Jewellery IPO Sees Strong Debut with QIB Demand

    The initial public offering (IPO) of BlueStone Jewellery opened on a positive note, achieving 39% subscription on its first day. Qualified Institutional Buyers (QIBs) led the charge with 57% subscription, followed by retail investors at 38% and non-institutional investors at 4%. The employee quota saw no bids on day one. The IPO, open from 11 to 13 August 2025, is priced between ₹492 and ₹517 per share. Strong institutional demand suggests confidence in the company’s growth prospects.

    Tesla Expands Supercharger Network in Key Indian Cities

    Tesla is accelerating its charging infrastructure rollout in Delhi–NCR, Mumbai, and Bengaluru ahead of its scheduled vehicle deliveries in September 2025. New Supercharging stations are planned in locations such as Gurugram, Saket, Noida, Lower Parel, Navi Mumbai, and Thane. The initiative follows the recent opening of Tesla’s second experience centre in Delhi Aerocity and is aimed at ensuring early adopters have reliable charging access.

    CCI Seeks Additional Evidence in Quick-Commerce Antitrust Review

    The Competition Commission of India (CCI) has requested more details from the petitioner in its initial review of alleged anti-competitive practices by quick-commerce players Blinkit, Instamart, and Zepto. The case is currently in the evidence-gathering stage, and no formal investigation has been launched yet. The request for further documentation indicates that the regulator is assessing whether the matter warrants a deeper probe into potential market dominance issues.

    Indian Startup Funding Updates for 2025 (Updated Weekly)
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  • Nirmala Sitharaman Tables Revised Income Tax Bill 2025 in Parliament to Boost Fairness and Clarity

    The majority of the suggestions made by the Parliamentary Select Committee, which was led by BJP MP Baijayant Panda, were incorporated into the Revised Income Tax Bill 2025, which Union Finance Minister Nirmala Sitharaman introduced in the Lok Sabha on August 11, 2025.

    Background of the Revised Bill

    The revised bill seeks to improve fairness and clarity in the nation’s income tax system, streamline India’s tax rules, and lower litigation for people and MSMEs. In the midst of opposition clamour, the introduction was made. Sitharaman stated that the amendments were required to accurately express the legislative content when he tabulated the measure. In order to prevent confusion, the previous bill was withdrawn, she added.

    Commenting on the move, Suraj Aiar, Founder & CEO, QWR said, “The revised Income Tax (No. 2) Bill, 2025 by Finance Minister Sitharaman represents a much-needed shift in India’s fiscal structure toward transparency, fairness and future-readiness. By reducing complexity including halving the number of sections and mandating faceless, digital-first assessments, the reforms showcase a modern, taxpayer-centric approach that is both timely and strategic.”

    “For startups especially in the AI and XR space, these changes go beyond being just the procedural updates, instead they represent a strong foundation for ease of compliance, scalable innovation and trust. At QWr, we believe that this new bill will act as a growth enabler, empowering more entrepreneurs to focus on building, not bureaucratising,” he added.

    Key Changes in the New Income Tax Law

    “There are corrections in the nature of draughting, alignment of phrases, consequential changes, and cross-referencing,” she said. According to the Finance Minister, the revised draft aims to bring the law into compliance with current regulations while enhancing justice and clarity.

    Now, lawmakers will have access to a single, revised version that incorporates all recommended modifications. The Parliamentary Select Committee’s 285 recommendations have been incorporated into the updated draft. It aims to rectify past inadequacies, streamline tax procedures, and possibly alter the nation’s income tax structure.

    How the Bill Benefits Taxpayers and MSMEs

    Panda claims that the new law will help individual taxpayers and MSMEs avoid needless litigation, simplify India’s decades-old tax system, and lessen legal ambiguity. With over 4,000 modifications and more than five lakh words, the present Income Tax Act, which was passed in 1961, is extremely complicated.

    Panda pointed out that the new measure makes the legislation much easier for regular taxpayers to read and comprehend by simplifying it by almost 50%. The committee pointed out several draughting mistakes and recommended changes to clear up any confusion. Slabs and rates have all been changed in the updated law to benefit all taxpayers.

    Key Changes in the New Income Tax Law

    According to the administration, the new structure will significantly lower middle-class taxes, giving them more discretionary income and encouraging investment, savings, and consumption. The Income Tax Bill, 2025, which was first presented in the Lok Sabha on February 13 to replace the current Income Tax Act, 1961, was formally withdrawn by the government last week.

    Why the Old Version Was Withdrawn?

    The Centre had stated that it would present a modified version of the New Income Tax Bill that included recommendations from the 31-member Select Committee of the Parliament after dropping the previous version.

     After abandoning the first version of the New Income Tax Bill, the Centre had promised to create a revised version that incorporated suggestions from the 31-member Select Committee of the Parliament.

    Quick
    Shots

    •Union
    Finance Minister Nirmala Sitharaman introduced the Revised Income Tax Bill
    2025 in the Lok Sabha on August 11, 2025.

    •Aims
    to improve fairness, clarity, and streamlining of India’s tax rules, reduce
    litigation for individual taxpayers and MSMEs, and replace the Income Tax
    Act, 1961.

    •The
    earlier bill (introduced on Feb 13, 2025) was withdrawn to correct drafting
    errors, align phrases, and avoid confusion