India’s AI startup market has received another strong signal from investors. VC firm Activate has closed its maiden AI-focused fund at $105 million, with a plan to back young companies building around artificial intelligence.

Activate was founded in December 2025 by Aakrit Vaish, former CEO and co-founder of Haptik, and Pratyush Choudhury, a former partner at Together Fund.

The firm calls itself an India-native AI venture firm and wants to support founders from the very beginning, sometimes even before a company is formally incorporated.

Activate fund – What the $105 million includes

As per Dealroom, Activate’s maiden fund includes an $85 million early-stage vehicle and $20 million through dedicated growth investment vehicles. The fund has reportedly closed above its original target, which shows strong investor confidence in India’s AI opportunity.

The firm plans to back around 25 to 30 startups. Its first cheques are expected to be in the range of $500,000 to $3 million. These investments will mostly go into pre-seed, seed and idea-stage AI startups.

In simple words, Activate is not waiting for startups to become big before investing. It wants to work with founders when the idea is still being shaped.

What Activate wants to invest in

Activate is focusing on three broad areas – AI applications, foundational models and physical infrastructure.

AI applications are tools that solve real business or consumer problems using AI. For example, an AI tutor for students, an AI sales assistant for small businesses or an AI tool for doctors to manage patient notes.

Foundational models are deeper technology plays, such as language, voice, video or coding models built for specific needs. Physical infrastructure can include compute, robotics or hardware-linked AI systems.

The firm believes India can create strong AI companies in sectors where the country already has scale, such as commerce, financial services, education, healthcare and services.

Why this fund matters for Indian AI startups

AI startups need more than money. They need access to models, cloud credits, technical feedback, hiring help and customer introductions. Activate is trying to build that support system around its fund.

The firm says its network includes a GenAI community of more than 15,000 technical practitioners. It has also listed partnerships with major AI and cloud companies such as NVIDIA, OpenAI, Anthropic, AWS, Microsoft Azure, Google Cloud and Notion. Portfolio companies may get up to $1 million in credits and benefits.

For an early-stage startup, this can be useful. A small team building an AI product may spend heavily on cloud and model usage before earning revenue. Support like credits and technical access can reduce early pressure.

Investors and early bets

Activate’s limited partners include founders, AI researchers, family offices, enterprises, global VC partners and well-known technology investors. Names mentioned across reports and the firm’s website include Vinod Khosla, General Catalyst, Vijay Shekhar Sharma, Ronnie Screwvala and Ranjan Pai.

The firm has already made investments in startups such as Sarvam AI, ElevenLabs and Wispr Flow. It has also backed several early-stage companies through its Inception strategy, though some of them are still in stealth.

Competitors and market context

Activate is entering a busy space. Other investors are also increasing their focus on AI and deeptech. Accel has launched a large AI and deeptech fund, while Elevation Capital has also moved strongly toward AI-focused investing.

The difference Activate wants to create is early involvement. Its aim is to work closely with founders at day zero, help refine the idea and then support product, hiring and future fundraising.

Udaan has made one of its biggest strategic moves yet by acquiring Swiggy’s Lynk Logistics in a Rs. 500 crore deal. It is a clear signal that Udaan wants to deepen its grip on retail distribution and strengthen its position in India’s fast-moving B2B commerce market.

Udaan was founded in 2016 by Amod Malviya, Sujeet Kumar, and Vaibhav Gupta. Lynk, which was founded in 2015 by Abinav Raja and Shekhar Bhende, had already been part of Swiggy’s portfolio since Swiggy acquired it in 2023. With this new move, the business is shifting again, this time into Udaan’s larger commerce network.

What exactly happened in the deal

The deal is an all-stock transaction. That means Swiggy is not just walking away with cash. Instead, it will receive about 2.8 percent stake in Udaan through preference shares in Udaan’s parent company, Trustroot Internet Private Limited. Swiggy is also making an additional Rs. 75 crore primary investment, which takes its total holding to around 3.2 percent.

For Udaan, this structure matters. It helps the company bring Lynk into its ecosystem without putting a large cash burden on the balance sheet. For Swiggy, it keeps some exposure to the retail distribution business while reducing direct operational involvement.

Why Udaan wants Lynk

The biggest reason is distribution depth.

Lynk has built a strong retail distribution network, especially in metros such as Bengaluru, Hyderabad, Chennai, and Kolkata. Those cities account for a large share of Lynk’s revenue. That gives Udaan a ready-made way to reach more retailers, brands, and suppliers in high-value urban markets.

Udaan already calls itself India’s largest eB2B platform and says it operates across FMCG, staples, fruits and vegetables, and pharma. Adding Lynk should help it improve product movement, retailer relationships, and last-mile distribution in key cities. In simple terms, it is buying speed, reach, and an existing supply chain instead of building everything from scratch.

There is also a bigger business reason. Udaan has been trying to become more efficient and more sustainable as a company. A stronger distribution layer can help it serve brands better, move goods faster, and improve margins over time.

What Swiggy gets from the transaction

Swiggy does not fully exit from the story. Instead, it swaps an operating asset for a stake in Udaan. That gives it exposure to the B2B commerce space without having to run the business itself.

This is a neat strategic move. Swiggy can keep some upside if Udaan grows, while Udaan gets a business that fits better with its own core model. In other words, both companies are getting something they value more than what they are giving away.

Why this deal is interesting for the market

B2B commerce in India is still a tough but attractive market. It needs logistics, trust, working capital, and strong retailer relationships. Deals like this matter because they show that scale is still the big game.

In the wider market, Udaan is up against players such as Jumbotail and ElasticRun. Jumbotail is pushing food and grocery distribution, while ElasticRun positions itself as a fulfillment and logistics network for brands and marketplaces. That means Udaan cannot rely on size alone. It has to keep improving execution, reach, and efficiency.

Conclusion

Udaan’s Rs. 500 crore acquisition of Lynk Logistics is a practical, business-first deal. It gives Udaan stronger distribution muscle, better access to key metro markets, and a sharper edge in B2B commerce. For Swiggy, it turns a direct operating business into equity exposure in a larger platform.

The real story here is not just ownership. It is consolidation. Udaan is trying to build a stronger commerce engine, and Lynk looks like a smart piece of that puzzle.

Key takeaways –

• Udaan has acquired Swiggy’s Lynk Logistics in a Rs. 500 crore deal.
• The transaction is an all-stock deal with an additional Rs. 75 crore primary investment from Swiggy.
• Swiggy will hold around 3.2 percent in Udaan after the deal.
• Udaan was founded in 2016 by Amod Malviya, Sujeet Kumar, and Vaibhav Gupta.
• Lynk was founded in 2015 by Abinav Raja and Shekhar Bhende.
• The deal helps Udaan expand distribution reach, especially in major metro markets.
• Udaan’s broader rivals include Jumbotail and ElasticRun.

References- Moneycontrol, BS, Financial Express, Swiggy, ET Retail

W Health Ventures has closed its second fund at Rs. 700 crore, and the number is only part of the story. What makes this raise interesting is the way the fund plans to work. Instead of simply backing startups after they are already built, W Health Ventures wants to create healthcare companies from the ground up.

The Mumbai-based firm says Fund II will help it build 8-10 companies over the next four years. W Health Ventures says it was founded in 2021, and its leadership is headed by Managing Partner Dr. Pankaj Jethwani. The firm focuses on healthcare businesses in India and the US-India corridor.

How this fund is different

Most venture funds invest in startups once the founder already has a product, some traction, and a clear market. W Health Ventures follows a different path. It uses a company-creation model.

In simple terms, the team first studies a healthcare problem closely, tests whether the opportunity is real, and only then brings in the right founder to build the business. The firm says its in-house team of physicians, operators, and technologists spends 12 to 18 months pressure-testing the idea before a company is launched.

That is a slower process, but it also lowers the risk of building the wrong thing. In healthcare, that matters a lot because regulations, patient trust, and execution are all harder than in many other sectors.

Where the money will go

The second fund is aimed at building companies in areas where healthcare systems still have big gaps. W Health Ventures has already shown the kind of spaces it likes to back. Its current portfolio includes companies working in obesity treatment, chronic pain, pediatrics, oncology, and behavioral health.

For example, it has backed Everhope Oncology, which is focused on cancer care, and Everbright Health, which works on advanced mental health treatment in the US. The larger pattern is clear. The fund is interested in problems that are large, difficult, and still underserved.

That makes the strategy easy to understand. If a market has millions of people with a health need, but very few organized solutions, then a fund like this sees both a business opportunity and a public-health opportunity.

Why investors are paying attention

W Health Ventures says its portfolio companies have already reached 25 million patients. That gives the firm some proof that its model can move beyond theory.

The fund also says it wants to keep building in India while serving some problems in the US-India corridor. That cross-border approach is useful because healthcare problems are often similar across markets, but the solutions need local execution.

Another reason the fund stands out is that it is backed by healthcare-linked investors and family offices. That usually helps in a sector where domain knowledge is just as important as capital.

Who it competes with

W Health Ventures does not behave like a standard venture fund, so its closest comparison is not always another VC firm. Still, in the broader healthcare investing space, funds like HealthQuad and Bharat Innovation Fund are part of the same conversation. They also back healthcare and health-tech businesses, but W Health’s company-creation model gives it a more hands-on role from the earliest stage.

That difference matters. One model funds startups. The other helps design and build them.

Conclusion

W Health Ventures’ Rs. 700 crore second fund is a strong signal that healthcare company creation is becoming a serious investment theme in India. The firm is not just looking for the next healthcare startup. It wants to shape the startup itself, then help it grow into a category leader.

For a sector as complex as healthcare, that approach makes sense. The problems are deep, but so is the opportunity.

Key takeaways –

• W Health Ventures has closed Fund II at Rs. 700 crore.
• The firm says it was founded in 2021 and is led by Dr. Pankaj Jethwani.
• Fund II will aim to build 8-10 healthcare companies over the next four years.
• The fund follows a company-creation model, not just a traditional investment model.
• Its focus areas include obesity, chronic pain, pediatrics, oncology, and behavioral health.
• W Health Ventures works across India and the US-India corridor.

Facts Input- Official Fund II announcement

The 6th edition of RISE Conclave 2026 concluded in Kolkata on September 7, 2026, and it carried a clear message – India wants its research, startups and industry to work much closer together. The event was organized by four CSIR labs and focused on moving home-grown ideas from the lab to the market faster.

RISE stands for Research, Industry, Start-up and Entrepreneurship. That name says a lot about the event’s purpose. It was not just a conference with speeches and panels. It was built as a working platform where scientists, entrepreneurs, investors, incubators and policymakers could actually meet, share ideas and build partnerships.

Why this conclave mattered

The biggest benefit of RISE Conclave 2026 was connection. Many good ideas in India stay stuck inside labs because the team behind them cannot find the right industry partner, investor or production support. Events like this try to solve that gap.

This year’s Kolkata edition put special focus on startups from Tier-2 and Tier-3 cities. That is important because many strong ideas come from outside the big metros, but those founders often need more visibility and better access to networks. The conclave created one shared space for them to meet scientists, mentors and business leaders.

The event also used the 4M framework – Minerals, Medicine, Materials and Machines. In practical terms, that gave the conclave a broad but useful structure. A materials startup could talk to researchers working on advanced composites. A healthcare startup could connect with CSIR-IICB experts. A manufacturing company could explore new machine technologies. That kind of exchange can save time and open real business opportunities.

What came out of the conclave

According to the government’s report, the conclave produced eight MoUs, four technology transfers, two product launches and one facility inauguration. Those are not small numbers. They show that the event was not only about discussion, but also about execution.

The Startup Exhibition and S&T Pavilion gave founders a chance to present their products and technologies directly to industry and investors. Around 150 startups took part, along with about 300 startup representatives and 150 delegates from incubation and innovation centres. That makes the conclave a useful networking point, not just a ceremonial gathering.

There was also strong policy support around the event. Speakers stressed that research should not stay inside institutions forever. It should move into products, commercial use and wider public benefit. That is the real value of any innovation conclave – not just more conversation, but a shorter path from idea to impact.

Who else is in the race

RISE Conclave does not really have a direct competitor in the usual business sense. It is part of a larger ecosystem that includes Startup India, state startup missions, university incubators and other national innovation forums. In that wider race, the real competition is for speed, collaboration and commercial success.

The difference with RISE is its CSIR backbone. That gives it direct access to deep scientific research, which many general startup events do not have. In simple terms, it can help a founder go beyond pitch decks and into actual technology development.

Conclusion

RISE Conclave 2026 ended with a practical message – India’s innovation story works best when research, business and government move together. The Kolkata edition created space for partnerships, technology transfer and startup visibility, especially for founders outside the major metro hubs.

For startups, the benefit is access. For researchers, it is adoption. For industry, it is fresh technology. And for the wider ecosystem, it is a reminder that innovation grows faster when the right people are in the same room.

Key takeaways –

• RISE Conclave 2026 concluded in Kolkata on September 7, 2026.
• It was organised by four CSIR labs and focused on research, industry, startups and entrepreneurship.
• The event resulted in eight MoUs, four technology transfers, two product launches and one facility inauguration.
• Around 150 startups took part, with strong participation from incubators and innovation centres.
• The conclave’s main value was helping ideas move faster from research labs to real-world use.

Facts Input and Image Credit- PIB

MeitY has opened applications for GENESIS Entrepreneur-in-Residence Cohort 3, also called GENESIS EIR 3.0. The programme offers financial support of up to Rs. 10 lakh to early-stage innovators, students, researchers and startup founders who are building technology-led ideas.

The programme was launched at the GENESIS NextGen Startup Summit, Coimbatore Edition, held at Rathinam Global University on August 4, 2026. Applications are open from August 4 to September 3, 2026.

What is GENESIS EIR 3.0

GENESIS EIR 3.0 is part of MeitY’s wider Gen-Next Support for Innovative Startups scheme. The larger GENESIS scheme has a budget outlay of Rs. 490 crore and focuses on growing the startup ecosystem in Tier 2 and Tier 3 cities.

The EIR part is meant for people who are still in the early stage of building. They may have an idea, proof of concept, prototype, MVP or early validation, but may not yet have enough funding, mentoring or incubation support.

In simple words, this programme helps promising tech founders move from “I have an idea” to “I have something I can test in the market.”

Aim of the programme

The main aim of GENESIS EIR 3.0 is to support technology startups outside the usual metro startup hubs. Many talented founders in smaller cities do not get easy access to investors, mentors, labs, networks or early grants.

This programme tries to reduce that gap. It gives selected innovators funding, incubation access, expert guidance and help with product development.

For example, a student in Coimbatore building an AI tool for farmers, or a young founder in Bhilai working on an IoT device for factories, may use this support to build a prototype, test it with users and prepare for the next stage.

Who can apply

GENESIS EIR 3.0 is open to Indian citizens who are aspiring entrepreneurs, early-stage innovators, students, researchers, startup founders or co-founders.

The idea should be in electronics, IT, ICT or deep-tech areas. Focus sectors include AI and machine learning, IoT, semiconductor and VLSI, cybersecurity, blockchain, quantum technologies, AR and VR, spatial technologies and other emerging technology fields.

The innovation should generally be at Technology Readiness Level 1 to 4. In simple words, this means the idea can be at concept, proof of concept, prototype, MVP or early testing stage.

The startup should be based in a Tier 2 or Tier 3 city. If already incorporated, it should be less than two years old on the application date. The applicant should also not have received more than Rs. 10 lakh from any central or state government scheme for the same idea or startup.

What support will selected founders get

Selected applicants can receive up to Rs. 10 lakh in financial assistance. They will also get incubation support through participating GENESIS incubators.

The programme includes one-on-one mentoring, product development support, MVP building help, prototype guidance, market validation support and ecosystem connections.

This matters because early-stage founders often need more than money. They need someone to help them sharpen the product, understand customers, prepare a business plan and avoid basic mistakes.

How to apply

Applicants can apply online through the MeitY Startup Hub portal. The official application window is open until September 3, 2026.

Before applying, founders should prepare a clear note about their idea, problem statement, target users, technology stage, team background, product plan and how the solution can become a startup.

Similar programmes

GENESIS EIR 3.0 sits in the same broad support space as Startup India Seed Fund Scheme, Atal Innovation Mission, TIDE 2.0 and state-level startup grants. Its sharper focus is on early tech innovators from Tier 2 and Tier 3 cities.

Conclusion – Key takeaways

GENESIS EIR 3.0 is a useful opportunity for early-stage tech founders who need funding and guidance before approaching larger investors.

The programme offers up to Rs. 10 lakh support, mentoring and incubation access. It is best suited for founders building in AI, IoT, semiconductors, cybersecurity, blockchain, quantum tech, AR/VR and other emerging technology areas.

Facts Input- PIB, MeitY-GENESIS, MeitY Startup Hub application portal

India’s Semicon 2.0 programme is opening a bigger funding route for chip startups, and this could be a meaningful step for founders working in semiconductor design, systems, IP cores and related deep-tech products.

The Union Cabinet approved Semicon 2.0 in July 2026 with a total outlay of Rs. 1,27,500 crore. The programme builds on Semicon 1.0, which had a Rs. 76,000 crore outlay and focused on bringing semiconductor manufacturing, packaging and chip design activity into India.

What Semicon 2.0 wants to achieve

Semicon 2.0 is not only about building large chip factories. The programme has six focus areas which are- chip design, machines and materials, fabs, ATMP and OSAT packaging, research and development, and talent development.

In simple words, the government wants India to build the full semiconductor chain. That means designing chips, making equipment and materials, manufacturing chips, packaging them, training engineers and supporting research.

This matters because chips are used in almost everything today such as in smartphones, cars, laptops, defence systems, EVs, medical devices, telecom networks, drones, smart meters and AI hardware.

Why this is important for startups

Chip startups often face a tough early journey. They need expensive design software, skilled engineers, prototype testing, access to fabrication facilities and patient investors.

Unlike a normal app startup, a chip company cannot launch quickly with a small team and basic tools. Even making a prototype can cost a lot. Semicon 2.0 is trying to reduce this burden by giving startups a more structured support path.

Under the design-linked support route, startups and MSMEs can get access to electronic design automation tools, multi-project wafer fabrication services and seed funding. Reports say commercial chip-design startups may receive milestone-linked seed funding of up to Rs. 15 crore, or 50% of project cost, whichever is lower.

Who can apply

The funding route is mainly meant for domestic semiconductor design companies, startups and MSMEs.

Eligible applicants should generally be incorporated and headquartered in India, with meaningful operations and manpower in the country. For design-linked incentives, companies are also expected to meet domestic ownership conditions, meaning more than 50% beneficial ownership should be with resident Indian citizens or Indian-owned companies.

Startups working on integrated circuits, chipsets, system-on-chips, systems, IP cores and semiconductor-linked designs can explore this route.

For example, a startup designing chips for drones, smart meters, telecom equipment, AI devices, LED drivers, IoT products or automotive electronics may fit the broad design support framework.

How startups can apply

Startups can apply through the Design Linked Incentive portal and relevant India Semiconductor Mission channels.

The basic process includes registration, submission of company and project details, a detailed project report, payment of the application fee and evaluation by the authorities. For some research and academic-linked proposals, founders may also look at the Chips to Startup programme, which supports academia, R&D organizations, startups and MSMEs.

Founders should prepare a clear project plan before applying. This should explain the chip idea, market use, technical stage, team strength, cost plan, timeline, expected IP ownership and how the product can be commercialized.

Government equity route

A key new idea under Semicon 2.0 is that the government may co-invest in chip startups along with venture capital investors. India Semiconductor Mission CEO Amitesh Kumar Sinha has said the government may take equity stakes but does not plan to control operations. The aim is to exit as companies mature.

This can help startups attract private investors, because government matching support reduces some early risk.

Conclusion – Key takeaways

Semicon 2.0 is a major policy push for India’s chip ecosystem. Its aim is to help India move from being mainly an electronics market to becoming a stronger semiconductor design and manufacturing hub.

For chip startups, the real benefit is access to funding, design tools, prototype support, fabrication access and possible VC-linked co-investment. Startups with serious semiconductor products, Indian ownership and a clear commercial plan should closely track the application windows.

Facts Input- PIB, India Semiconductor Mission, Design Linked Incentive portal, C2S programme guidelines, Moneycontrol

NIIF has raised Rs. 19,000 crore as the first close of its Infrastructure Fund II, marking one of the biggest infrastructure fundraising updates in India this year. The fund is targeting Rs. 30,000 crore in total, so this first close already covers more than 60% of the planned corpus.

The fund is backed by the Government of India and large institutional investors, including sovereign wealth funds, pension funds, insurance companies and major Indian financial institutions. For a country that needs better roads, cleaner energy, stronger digital systems and modern urban assets, this kind of long-term capital can play a serious role.

What is NIIF

NIIF, or National Investment and Infrastructure Fund, is India’s sovereign-anchored alternative asset manager. It was announced in the Union Budget in February 2015 and was created to attract long-term capital for India’s infrastructure needs.

In simple words, NIIF works like a professional investment platform that pools money from the Indian government, global investors and domestic institutions. It then invests that money into infrastructure businesses and projects that can support India’s growth.

NIIF is not a normal government scheme. It is structured as a fund manager and invests in commercially viable projects. That means it looks for projects that can create economic value and also generate returns for investors.

Purpose of Infrastructure Fund II

The new Infrastructure Fund II will invest in core areas such as energy, transport and digital infrastructure. It will also look at newer themes like urban infrastructure and electric mobility.

This can include assets linked to renewable energy, roads, logistics, data centres, smart metering, city infrastructure and EV-related systems.

For example, if India needs more charging networks for electric vehicles, better logistics parks near highways, or stronger digital infrastructure for data demand, funds like this can help bring large investors into those projects.

Who has invested

The first close is anchored by the Government of India. Global investors include AustralianSuper, CPP Investments, a subsidiary of the Abu Dhabi Investment Authority, Ontario Teachers’ Pension Plan and Temasek.

Indian investors include ICICI Bank, HDFC Bank, Axis Bank, Kotak Life Insurance and HDFC Life Insurance.

NIIF also expects to mobilize around Rs. 9,000 crore in co-investment capital. This means some investors may put extra money directly into select deals along with the fund.

History of NIIF

NIIF was announced in 2015 to improve infrastructure financing in India. It was registered as a Category II Alternative Investment Fund under SEBI rules.

Its first infrastructure fund, also called the Master Fund or Sustainable Infrastructure Fund, reached its first close in 2017 and final close in 2020 at around $2.34 billion. That fund invested across renewables, power transmission, distribution, battery storage, roads, ports and logistics, airports, data centres and smart metering.

NIIF has also built platforms and partnerships over the years, including work in logistics, infrastructure debt, private markets and green growth. Today, it manages capital across multiple funds and is seen as a bridge between India’s infrastructure pipeline and large global investors.

Why this fund matters

Infrastructure projects need patient money. A road, power network, airport or data centre cannot be built and monetized in a few months. These projects need years of planning, approvals, construction and operations.

That is why pension funds, sovereign funds and insurance companies are important investors. They usually look for long-term opportunities. NIIF gives them a structured way to participate in India’s growth story.

Competitors and similar players

NIIF operates in a market where global and domestic infrastructure investors such as Macquarie, Brookfield, KKR, GIC, CPPIB, ADIA, Actis and domestic infrastructure funds also invest.

NIIF’s advantage is its sovereign-anchored structure, local knowledge and ability to work with both Indian institutions and global capital providers.

Conclusion – Key takeaways

NIIF’s Rs. 19,000 crore first close for Infrastructure Fund II is a strong sign of investor confidence in India’s infrastructure future.

The fund’s aim is to support large, long-term projects in energy, transport, digital infrastructure, urban development and electric mobility. Its purpose is to bring patient capital into sectors that directly affect economic growth and everyday life.

If deployed well, this fund can help India build cleaner power systems, better transport networks, stronger digital assets and more future-ready cities.

Facts Input- NIIF, NIIF, DEA, IES Arthapedia

Groww AMC has completed its Rs. 580 crore strategic investment deal with State Street Investment Management after receiving the required regulatory approvals. The partnership was first announced in January 2026 and has now formally closed.

This is a meaningful move for India’s mutual fund market. Groww is already popular among young and first-time investors, while State Street is one of the world’s biggest asset management names. Together, the two companies want to build stronger investment products for Indian users, especially in areas like index funds, ETFs and systematic investing.

What has happened

State Street Investment Management has taken a 23% economic interest in Groww AMC. Its voting rights are limited to 4.85%, which means Groww continues to hold control of the asset management company.

In simple words, State Street gets financial exposure to Groww AMC’s growth, while Groww keeps running the business. This structure also keeps the deal aligned with Indian regulatory requirements for asset management companies.

Groww AMC is the investment manager of Groww Mutual Fund. Groww had acquired the Indiabulls Mutual Fund business in 2023, and since then it has been trying to build a larger mutual fund platform for retail investors.

Aim of the partnership

The main aim is to combine Groww’s digital reach in India with State Street’s global asset management experience.

Groww has built a strong name among retail investors because its app makes investing feel simple. Many young users started their stock or mutual fund journey through Groww. State Street, on the other hand, has deep experience in passive investing, ETFs, portfolio construction and global market products.

For a beginner, passive investing means buying a fund that tracks an index, such as Nifty 50 or Sensex, instead of depending on a fund manager to pick stocks actively. These products are usually simple, transparent and often cheaper.

Purpose of the Rs. 580 crore investment

The purpose of this investment is to help Groww AMC scale its mutual fund business and improve its product range.

The fresh capital and strategic relationship can support new fund launches, better technology, research capabilities and investor education. Reports also point to collaboration in ETFs, indexing, systematic investing, macro research and global market access.

For example, an Indian investor may want a simple low-cost index fund for long-term wealth creation. Another may want an ETF that tracks a sector or theme. Over time, Groww AMC could use State Street’s experience to create more such products for Indian investors.

Why State Street is interested in India

India’s mutual fund market is growing as more people move from traditional savings into market-linked products. SIPs have also made mutual funds easier for salaried people and first-time investors.

State Street’s investment gives it a way to participate in this growth without starting from zero. Groww already has a large digital user base and brand recall among retail investors, which makes the partnership attractive.

Competitors in the market

Groww AMC will compete with established mutual fund houses such as SBI Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Nippon India Mutual Fund, Axis Mutual Fund and Mirae Asset Mutual Fund.

It will also face competition in the passive investing space from players like UTI Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund and Zerodha Fund House.

The challenge for Groww AMC will be trust. Mutual funds are not bought only because an app is easy to use. Investors also look at performance, cost, fund management quality and long-term consistency.

Conclusion – Key takeaways

Groww AMC closing the Rs. 580 crore State Street investment is a strong signal for India’s asset management market.

The deal can help Groww build better mutual fund products, especially in ETFs, index funds and systematic investment solutions. State Street gets access to India’s fast-growing investor base, while Groww gains global product knowledge.

For investors, the real benefit will depend on what products Groww AMC launches next, how they are priced, and whether they perform well over time.

Facts Input- ET, StateStreet, MC, PIB

Micromax Informatics has launched a Rs. 250 crore family office to invest in deep-tech startups in India and global markets. The move marks a fresh chapter for the homegrown electronics company, which is now looking beyond smartphones and consumer devices.

The new investment platform will support startups working in areas such as artificial intelligence, semiconductors, defence technology, space technology and robotics. These are not easy sectors. They need more time, deeper research, stronger engineering and patient capital.

What Micromax wants to do

Micromax wants to back startups that are building difficult but useful technologies. Deep-tech simply means technology based on serious science, engineering or hardware innovation.

For example, a startup building a defence drone, a chip design platform, a robotic system for factories, or a satellite component may need years of testing before it becomes a large business. Such companies often need more than money. They need manufacturing help, industry contacts, supply-chain access and technical guidance.

This is where Micromax believes it can add value.

Micromax background

Micromax Informatics was founded in 2000. Its key co-founders include Rahul Sharma, Rajesh Agarwal, Sumeet Kumar and Vikas Jain.

The company became widely known in India for affordable mobile phones and later expanded into electronics, manufacturing and newer technology businesses. Its wider group includes Bhagwati Products and MiPhi Semiconductors, which may help selected startups with manufacturing and semiconductor-related support.

Purpose of the Rs. 250 crore family office

The family office will mainly invest in startups from pre-Series A to Series B stage. That means it will support companies that are past the idea stage but still need capital to build, test, scale and sell their products.

Reports suggest the average initial cheque size may be around Rs. 10 crore to Rs. 20 crore. Micromax has already started deploying capital across its focus sectors.

The purpose is not only to earn financial returns. The move also fits India’s larger push to build more local capability in chips, defence, space and advanced manufacturing.

Why this move matters

Many deep-tech founders struggle because their products take longer to commercialize. A software app can sometimes launch in months. A semiconductor or robotics company may need labs, parts, certifications, factory partnerships and long customer trials.

If Micromax can give startups access to its manufacturing knowledge and supply-chain network, the support can be practical. A young robotics startup, for instance, may know how to build a prototype but may not know how to produce 5,000 units reliably. That is where an industrial backer can help.

Competitors and similar players

Micromax’s family office will operate in a space where other investors are also backing deep-tech and frontier-tech startups. These include Speciale Invest, pi Ventures, Industrial47, Ankur Capital, YourNest, Blume Ventures and Udtara Ventures.

The difference for Micromax could be its hardware and manufacturing background. If used well, that can make it more than just a financial investor.

Conclusion – Key takeaways

Micromax’s Rs. 250 crore family office is a clear bet on India’s next wave of hard technology startups.

The aim is to support founders building in AI, semiconductors, defence, space and robotics. The purpose of the move is to combine capital with manufacturing support, industry access and scale-up guidance.

If the strategy works, Micromax could help young deep-tech companies move from lab ideas to real products used in India and abroad.

Facts Input- India Manufacturing Review

India’s energy sector is getting a new startup push with the MC²+ Ignite programme. The programme is designed to support around 30 energy deep-tech startups in its first cohort and help them move from prototype stage to real-world pilots.

The idea is simple but powerful. Many energy startups in India have strong technology, but they struggle to test it inside real industrial environments. A lab experiment is one thing. Proving the same technology at an oil refinery, gas pipeline, drilling site, storage facility or large energy plant is much harder.

MC²+ Ignite wants to solve this gap by connecting startups with energy public sector companies, research institutions, mentors, funding and pilot sites. For founders working on clean fuels, decarbonization, hydrogen, industrial AI, energy efficiency or advanced materials, this can become a serious opportunity.

What is MC²+ Ignite

MC²+ Ignite is an accelerator programme for energy-focused deep-tech startups in India. It is part of the MC²+ platform, which describes itself as India’s flagship energy innovation platform.

MC²+ is backed by major energy companies including ONGC, Indian Oil, Bharat Petroleum, Hindustan Petroleum, GAIL, Oil India and Petronet LNG. The platform is led under the Ministry of Petroleum and Natural Gas ecosystem.

The Ignite programme was launched on 19 August 2026 at IIT Madras, according to reports. Applications for the first cohort opened on 5 August 2026 and are expected to close on 31 August 2026.

For selected startups, the programme can offer funding, lab access, mentorship and chances to test their technology with large energy companies.

What energy deep-tech means

Deep-tech simply means technology based on serious science, engineering or research. In energy, this can include new battery materials, clean fuel production, carbon capture, AI tools for drilling, hydrogen systems, bioenergy, industrial sensors, digital asset management, or ways to reduce emissions from factories and refineries.

For example, a startup may build a sensor that can detect pipeline leakage early. Another may develop a cheaper process to make biofuel. One more may use AI to help energy companies maintain equipment before it fails.

These ideas are not like normal app-based startups. They need testing, equipment, patient capital and industry access. That is why a programme like MC²+ Ignite can matter.

How many startups will be supported

MC²+ Ignite plans to select around 30 startups in its first cohort. The focus is on startups at the prototype-to-early-pilot stage.

This stage is important. A startup may have already built a working model, but it may not yet have proved the product at industrial scale. That is usually where many deep-tech companies get stuck.

If MC²+ Ignite can help startups test their solutions inside real energy environments, it can reduce the distance between research and commercial use.

Funding support for startups

Selected startups can receive up to Rs. 2 crore in milestone-linked convertible funding, according to reports and programme-linked information.

This includes up to Rs. 50 lakh as initial support and up to Rs. 1.5 crore as milestone-based funding. Milestone-based funding means the startup may receive money in stages after achieving agreed goals.

For example, a startup may first get support to build or improve a prototype. If the prototype works and reaches the next technical target, it may receive more funding for pilot testing.

Convertible funding means the amount may later convert into equity under certain conditions. In simple words, it is not exactly like a normal grant. Founders should read the final terms carefully before applying.

What support will startups get beyond money

The biggest value of MC²+ Ignite may not be only funding. Energy startups often need access to testing facilities, industrial data, pilot locations and experienced mentors.

The programme says it will offer four main pillars – infrastructure, capital, mentorship and market access.

Infrastructure can include access to labs, testing rigs, fabrication workshops and technical facilities. Mentorship can come from research institutions, energy companies and industry experts. Market access can help startups find pilot opportunities and first customers among energy majors.

This matters because a startup selling to the energy sector cannot grow only with a pitch deck. It must prove safety, reliability and performance.

Institutional partners of MC²+ Ignite

MC²+ Ignite is working with institutions such as IIT Madras, IIT Kanpur, IIT Kharagpur, IIT Bombay, C-CAMP and Venture Center, Pune, according to reports.

These institutions can help with technical mentoring, lab infrastructure, startup screening and research support.

Venture Center’s MC² Node page also mentions its role in energy venture creation under the MC²+ initiative. It lists support around incubation, infrastructure, capital, mentorship and market access.

For founders, this mix of academic and industrial backing can be useful. Energy technologies need both science and market understanding.

Why this programme is important for India

India has a large energy demand, and that demand will keep growing. At the same time, the country needs cleaner fuels, lower emissions, better efficiency and stronger energy security.

Large companies can invest in research, but startups often move faster and try bold ideas. The problem is that energy startups need industrial partners to test and scale their solutions.

MC²+ Ignite can help by giving startups a clearer route from lab work to field validation. If even a few startups from the first cohort succeed, the impact can be meaningful.

A successful startup may help reduce energy waste, improve refinery efficiency, support hydrogen adoption, make biofuels cheaper, reduce equipment failure or cut emissions.

Who should apply

The programme is mainly useful for startups building serious technology for the energy sector.

This may include founders working in clean energy, energy transition, decarbonization, climate tech, industrial AI, advanced materials, clean fuels, downstream technologies, midstream technologies and digital tools for energy operations.

Researchers with lab-stage intellectual property may also find the platform useful if they want to turn their work into a venture.

However, startups should not apply casually. Energy pilots need technical depth, safety understanding and a clear use case. A strong application should explain the problem, the technology, current stage, team capability and why the solution can work at scale.

Similar programmes and ecosystem context

MC²+ Ignite is not the only startup support programme in India, but it is different because of its strong energy-sector focus.

Other accelerator and innovation programmes in India are run by corporates, government-backed incubators, IIT incubators and climate-tech funds. Programmes linked to C-CAMP, Venture Center, IIT incubators and large corporate accelerators also support deep-tech and climate-focused founders.

What makes MC²+ Ignite stand out is the direct involvement of major oil and gas public sector companies. For energy startups, access to such companies can be as valuable as funding.

Conclusion with key takeaways

MC²+ Ignite is a timely programme for India’s energy innovation ecosystem. It aims to support around 30 deep-tech startups that are ready to move from prototype to early pilot.

The programme can help founders with funding, lab access, mentorship and real industrial testing opportunities. For India, it can support cleaner, smarter and more reliable energy technologies.

Key takeaways –

• MC²+ Ignite will support around 30 energy deep-tech startups.
• The first cohort is focused on prototype-to-early-pilot stage companies.
• Selected startups may receive up to Rs. 2 crore in milestone-linked convertible funding.
• The programme is backed by major energy PSUs including ONGC, Indian Oil, BPCL, HPCL, GAIL, Oil India and Petronet LNG.
• Applications for the first cohort are expected to close on 31 August 2026.
• The programme can help startups test energy technologies in real industrial settings.

Facts Input- MC²+, Venture Center, GKToday, NewsBytes

Sachin Bansal-led Navi has raised $100 million from Prosus, marking a major funding moment for the Bengaluru-based fintech company. The investment comes at a time when Navi is preparing for a possible public listing and trying to grow deeper in India’s digital financial services market.

The round is important for two reasons. First, it is reported as Navi’s first external institutional funding round. Second, Prosus is not a random new name in Sachin Bansal’s journey. Its parent company Naspers was an early investor in Flipkart, the e-commerce company co-founded by Bansal before he moved on to build Navi.

Navi was founded in 2018 by Sachin Bansal and Ankit Agarwal. The company’s larger aim is simple – make financial products easier, faster and more accessible through a mobile-first platform.

What Navi does

Navi is a fintech company that offers digital financial services through its app and group companies. Its products include UPI payments, cash loans, home loans, health insurance and mutual fund investments.

For a normal user, Navi works like a single app for different money needs. Someone may use Navi UPI to make payments, apply for a cash loan, explore a home loan, buy health insurance or start investing in mutual funds.

This “one app, many financial products” model is what makes Navi different from companies that focus only on payments or only on lending. Navi wants to be present across the customer’s financial journey.

For example, a young working professional may first download Navi for UPI payments. Later, the same user may explore a personal loan or mutual fund. This gives Navi a chance to build long-term customer relationships instead of depending on one product.

Details of the Prosus investment

Navi has raised $100 million, around Rs. 1,000 crore, from Prosus. Reports say the investment is being made through MIH Payments Holdings BV, an indirect wholly owned subsidiary of Prosus NV.

The deal involves Prosus acquiring a minority stake in Navi. The Competition Commission of India has also been linked to the transaction, with reports saying the deal has received regulatory clearance or was taken to the regulator for approval.

Indian Startup News reported that the investment values Navi at about $1.3 billion. Moneycontrol reported that the funding comes ahead of Navi’s possible IPO, which could be around $2 billion in size.

The timing is worth noting. Navi had earlier received approval from SEBI in 2022 for a Rs. 3,350 crore public issue, but it did not go ahead with that listing. Now, with Prosus coming in, Navi appears to be preparing for another attempt at the public markets.

Purpose of funding

Navi has not shared a long, item-by-item spending plan in public reports. Still, the purpose of the funding can be understood from the company’s current direction.

The money is expected to support Navi’s growth as it expands payments, lending and other financial products. A large fintech business needs capital for technology, customer acquisition, risk systems, compliance, product building and balance sheet strength.

Lending is especially capital-heavy. If a company wants to offer more loans, it needs strong risk controls and access to funds. It must decide who is eligible for a loan, how much can be lent, what interest rate makes sense and how repayments will be tracked. All this needs technology, data and careful underwriting.

The funding can also help Navi ahead of its IPO preparation. Public market investors usually look for scale, governance, revenue growth, risk controls and a clear path to profitability. A global investor like Prosus can add confidence before a company enters the stock market.

Navi’s current business position

Navi has been growing in payments and lending. During FY26, Navi UPI remained the fourth-largest UPI app in India, according to reports. This is useful for the company because UPI can act as a customer entry point.

In simple terms, payments bring users into the app more frequently. Once users are active, Navi can offer them other services such as loans, insurance or investments.

Navi Finserv, the group’s lending arm, crossed Rs. 13,000 crore in assets under management by the end of FY26, according to company-linked reports. Assets under management, or AUM, means the total loan book or financial assets being managed by the company.

Navi also reported consolidated profitability in the fourth quarter of FY26, while Indian Startup News reported that the wider group had a full-year consolidated net loss of Rs. 466 crore in FY26, compared with Rs. 126 crore a year earlier. This shows a mixed picture – growth is strong, but spending on new businesses and customer acquisition is also high.

Why Prosus may be interested

Prosus is known for backing technology businesses with large market opportunities. India’s fintech sector fits that profile because millions of people now use digital payments, loans, insurance and investment apps.

For Prosus, Navi offers exposure to multiple financial services under one platform. It is not only a UPI app. It also has lending, mutual funds and insurance products. That can create more revenue options if Navi executes well.

There is also a relationship angle. Naspers and Prosus have a long history with Sachin Bansal through Flipkart. That past connection may have made the investment more meaningful, but the business case still depends on Navi’s ability to grow responsibly.

Competitors of Navi

Navi operates in a crowded fintech market. Its competitors change depending on the product category.

In UPI payments, Navi competes with PhonePe, Google Pay, Paytm and BHIM. In lending, it competes with players such as KreditBee, Moneyview, Fibe, PaySense and other digital lending platforms. In mutual funds and investments, it faces competition from Groww, Zerodha Coin, ET Money, Kuvera and Paytm Money. In insurance, it competes with digital insurance platforms and traditional insurers.

This makes Navi’s market attractive but tough. The company has to win user trust in payments, maintain credit quality in lending, offer simple investing products and handle insurance with care.

What this means for customers

For customers, Navi’s growth can mean more digital financial options. If the company uses the funding well, users may see better app experience, faster services, more products and wider access.

But customers should still be careful with financial products. A quick personal loan may look convenient, but it must be repaid on time. Mutual funds can help build wealth, but returns are not guaranteed. Health insurance should be chosen after reading the terms carefully.

A fintech app can make access easier. It cannot replace basic financial discipline.

Conclusion with key takeaways

Navi’s $100 million funding from Prosus is a big step for Sachin Bansal’s second major entrepreneurial journey after Flipkart. The investment comes as Navi prepares for a possible IPO and expands across payments, lending, insurance and investments.

The company has strong ambition, a large market and a well-known founder. But the real test will be execution – growing fast while managing risk, compliance, customer trust and profitability.

Key takeaways –

• Navi has raised $100 million from Prosus.
• The company was founded in 2018 by Sachin Bansal and Ankit Agarwal.
• Navi offers UPI payments, loans, health insurance, home loans and mutual funds.
• The funding comes ahead of Navi’s possible IPO plans.
• Reports say Prosus is acquiring a minority stake through MIH Payments Holdings BV.
• Navi UPI was reported as India’s fourth-largest UPI app during FY26.
• Navi competes with PhonePe, Google Pay, Paytm, Groww, KreditBee, Moneyview and other fintech players.

Facts Input- Indian Startup News, Fintech News Singapore, Moneycontrol

Atomberg has taken another serious step towards the stock market. The D2C consumer appliance brand has received board approval to raise up to Rs. 450 crore through an initial public offering.

The approval was passed at an extraordinary general meeting held on August 12, 2026, according to Indian Retailer. The IPO is expected to include a fresh issue of shares and an offer for sale by existing shareholders. The final launch will still depend on market conditions and approvals from SEBI.

Along with the IPO plan, Atomberg’s board has also approved a pre-IPO fundraise of up to Rs. 90 crore. This means the company may raise some money before the public issue. If that happens, the IPO’s fresh issue size may be reduced accordingly, as per applicable rules.

What Atomberg does

Atomberg is a Mumbai-based consumer appliance startup best known for its energy-efficient BLDC fans.

BLDC means brushless direct current. In simple terms, it is a motor technology that helps fans use less electricity while still giving strong air delivery. For Indian homes, where fans run for many hours in a day, this saving can matter.

The company started with fans, but it is no longer only a fan brand. Atomberg now sells mixer grinders, water purifiers, smart locks, juicers and other home appliances. Still, fans continue to remain its most important product category.

Who founded Atomberg

Atomberg was founded in 2012 by IIT Bombay alumni Manoj Meena and Sibabrata Das, also known as Shibam Das.

The company first focused on business-to-business sales of energy-efficient fans. It later entered the consumer market in 2016 and grew through online platforms like Amazon and Flipkart, its own website, and offline retail stores.

In 2026, the founders also reshaped their roles. Manoj Meena became chairman and managing director, while Shibam Das became chief executive officer. This kind of leadership restructuring is common when companies prepare for a larger public-market journey.

Why the IPO matters

The Rs. 450 crore IPO plan is important because it shows Atomberg is getting ready for the next stage of growth.

An IPO can help the company raise capital, improve brand visibility and give some early investors a partial exit through the offer-for-sale route. For Atomberg, the timing is also interesting because Indian consumers are spending more on better home appliances, especially products that save power and look modern.

The approved Rs. 90 crore pre-IPO placement is also worth watching. A pre-IPO round is usually used to bring in selected investors before the public issue. It can help a company strengthen its balance sheet and test investor interest before going to the wider market.

What makes Atomberg unique

Atomberg’s biggest difference is that it did not enter the appliance market only with branding. It entered with technology.

A ceiling fan is a very common product. Most people do not think deeply before buying one. Atomberg changed that conversation by making electricity saving a central selling point.

For example, a family using three or four fans for long hours during summer may not notice the saving in one day. But over a full year, lower power use can reduce electricity bills. This is a practical benefit, and it helped Atomberg build trust.

The brand also added features like remote controls, sleep mode, timer settings and smart controls. These features made a regular fan feel more modern without making it difficult to use.

Atomberg’s growth has also been helped by its digital-first approach. It used ecommerce platforms well before expanding offline. That gave the brand visibility among younger buyers and urban households.

Atomberg’s funding and investors

Atomberg has raised about $126.5 million so far. Its investors include Inflexor Ventures, Trifecta Capital Advisors, Steadview Capital, Temasek Holdings and Jungle Ventures, among others.

Earlier reports have also said that Atomberg raised Rs. 212 crore in a Series C extension led by Temasek. The company has used past funding to expand manufacturing, build new product lines, grow offline distribution and strengthen research and development.

Its investor list is important because public-market investors often look at who has backed a company before IPO. Strong private investors do not guarantee success, but they do show that the company has already passed several rounds of business checks.

Financial picture

Atomberg has been growing, but it is still working towards stronger profitability.

According to Entrackr, Atomberg’s revenue from operations rose to Rs. 958.4 crore in FY25 from Rs. 796.9 crore in FY24. Its net loss narrowed to Rs. 117.4 crore in FY25 from Rs. 199 crore in FY24.

That is a useful signal. Public investors usually like growth, but they also want to see losses coming down. Atomberg’s IPO story will likely be judged on whether it can keep growing while improving margins.

Competitors Atomberg faces

Atomberg competes in a tough market. Its rivals include Havells, Crompton, Orient Electric, Usha, Bajaj Electricals and V-Guard.

These companies already have strong dealer networks, service teams and years of consumer trust. Atomberg’s challenge is to keep its technology-led brand image while matching the reach and service strength of older players.

It also competes with newer digital-first appliance brands that sell through marketplaces, quick-commerce channels and direct websites.

Why consumers care

Atomberg’s appeal is easy to understand. It sells products that promise lower power use, better design and convenient features.

A new homeowner may like the stylish look. A family may care about electricity savings. A tech-friendly buyer may choose smart features. A practical buyer may simply want a fan that performs well and does not feel outdated.

This mix has helped Atomberg turn a low-interest category into a more active buying decision.

Conclusion with key takeaways

Atomberg’s Rs. 450 crore IPO approval is an important milestone for the startup. The company has moved from a research-led fan maker to a broader consumer appliance brand with public-market ambitions.

Its real strength lies in making everyday products feel smarter and more efficient. But the IPO journey will also bring tougher questions around profitability, competition, service quality and long-term growth.

Key takeaways –

• Atomberg’s board has approved a plan to raise up to Rs. 450 crore through an IPO.
• The company has also cleared a pre-IPO fundraise of up to Rs. 90 crore.
• Atomberg was founded in 2012 by Manoj Meena and Sibabrata Das.
• The brand is best known for energy-efficient BLDC fans and has expanded into other home appliances.
• Its competitors include Havells, Crompton, Orient Electric, Usha, Bajaj Electricals and V-Guard.

Prime Minister Narendra Modi used his Independence Day 2026 speech from the Red Fort to put startups, young entrepreneurs and innovation at the centre of India’s growth story. According to an India Today report published on August 15, 2026, the Prime Minister announced a Rs. 1 lakh crore innovation fund to support young people with ideas and help them turn those ideas into businesses.

The announcement is important because startup funding in India is no longer only about food delivery apps, fintech products or quick consumer platforms. The next phase is expected to be more about deep technology, manufacturing, artificial intelligence, clean energy, semiconductors, biotech, space and advanced research.

For founders, the message is simple. If India wants to build world-class technology at home, promising ideas will need longer-term financial support. That is exactly where the Rs. 1 lakh crore innovation fund fits in.

What PM Modi announced

During his Independence Day address on August 15, 2026, PM Modi said the government had created a Rs. 1 lakh crore mechanism to support ideas, innovation and capability. The larger message was aimed at young entrepreneurs who may have strong ideas but lack the capital to develop them.

India Today reported that the announcement was part of a broader youth-focused push. The Prime Minister also spoke about AI training for one crore young people, free online coaching for competitive exam aspirants, and opportunities linked to Digital India, Skill India, the drone sector and the opening up of space.

This is why the fund should not be seen as a standalone headline. It sits inside a wider policy direction where the government wants Indian youth to build, research, manufacture and create jobs.

Is this a new fund or linked to the RDI Fund

The announcement is closely linked to the government’s Research, Development and Innovation Fund, commonly called the RDI Fund. Official records show that the Union Cabinet approved the Rs. 1 lakh crore RDI Scheme on July 1, 2025. It was formally launched by the Prime Minister on November 3, 2025.

So, the Independence Day 2026 announcement should be understood as a strong public push for the same innovation financing framework, especially for startups and young entrepreneurs.

The RDI Fund is planned over six years. It is designed to support private sector research, deep-tech startups and companies working on high-impact technologies. The fund is not meant only for small grants. It is meant to provide long-term capital for difficult technologies that may take years to become commercially ready.

Why this matters for Indian startups

Most startups need money. But deep-tech startups need a different kind of money.

A regular consumer startup may be able to launch a product, test it with users, change features quickly and show early revenue. A deep-tech startup works differently. It may need a lab, testing equipment, researchers, patents, safety approvals, pilots with large companies and manufacturing partners.

Take an electric vehicle battery startup as an example. It cannot simply build an app and launch it in a few weeks. It has to test battery chemistry, safety, charging performance, lifecycle, heat management and cost. That takes time and patient funding.

The same is true for startups building medical devices, drones, robotics, semiconductor tools, clean energy equipment or space technology. These areas are expensive, but they can also create serious long-term value for the country.

That is why the PM Modi Rs. 1 lakh crore innovation fund could matter. It can reduce the funding gap between an early idea and a product that is ready for the market.

Which sectors can benefit

The official RDI Fund framework focuses on sunrise and strategic sectors. These include artificial intelligence, quantum computing, robotics, space technology, biotechnology, biomanufacturing, pharmaceuticals, medical devices, energy transition, climate action and the digital economy.

AI in agriculture, health and education is also part of the focus area. This is important because India has many large public problems where technology can make a difference.

For example, an AI tool that helps farmers detect crop disease early can improve income and reduce waste. A low-cost medical device can help smaller hospitals. A robotics startup can support factories. A clean energy startup can help industries reduce fuel costs.

The automobile sector may also benefit indirectly. EV batteries, charging systems, vehicle electronics, lightweight materials and hydrogen technology all need research-led innovation. If the funding reaches strong companies in these areas, it can support India’s manufacturing ambitions.

How the process may work

The Rs. 1 lakh crore innovation fund is not expected to work like a simple online cash scheme where any founder can directly claim money.

As per official RDI Fund details, the structure works through the Anusandhan National Research Foundation, or ANRF. The Department of Science and Technology is the nodal ministry for implementation.

The fund uses a two-level model. Money is first routed to approved Second-Level Fund Managers, called SLFMs. These fund managers then support eligible startups, companies and research-led projects.

The Technology Development Board and the Biotechnology Industry Research Assistance Council have already been approved as SLFMs. In simple language, TDB may support wider technology commercialization, while BIRAC is more focused on biotechnology and life sciences.

This means founders should not only watch government announcements. They should track official calls from TDB, BIRAC, ANRF and future approved fund managers.

What founders should prepare

A startup that wants to apply should first check whether its product has a strong research or technology component. The fund is more suitable for serious innovation than for ordinary trading, resale, content or basic service businesses.

Founders should prepare a clear problem statement. They should explain what they are building, why it is different, what stage the technology has reached and how it can become commercially useful.

They should also keep technical proof ready. This may include prototypes, lab results, pilot data, patent filings, customer letters, testing reports or partnerships with research institutions.

Financial planning will be equally important. A founder should be able to explain how much funding is needed, where the money will go, what milestones will be achieved and how the company plans to earn revenue later.

A practical example would be a startup building an Indian-made medical sensor. A strong application would not only say “we are building a sensor”. It would show test results, target hospitals, expected price, regulatory path, manufacturing plan and why the product is better or cheaper than existing options.

Latest implementation status

The RDI Fund has already started moving from announcement to execution. A PIB update from July 2026 said TDB and BIRAC had each been sanctioned Rs. 1,000 crore under the RDI Fund.

The same update said Rs. 500 crore was disbursed to TDB in March 2026 for investment in eligible technology entities. TDB had approved 22 projects with total project cost of Rs. 4,744 crore, including RDI Fund support of Rs. 2,192 crore. BIRAC had shortlisted eight projects involving support of Rs. 390.35 crore.

This is a useful detail because it shows that the fund is not just a speech point. The funding machinery has started, though founders still need to follow formal calls and eligibility rules.

Conclusion with key takeaways

PM Modi’s Rs. 1 lakh crore innovation fund announcement on Independence Day 2026 gives India’s startup ecosystem a strong policy signal. The government wants more young entrepreneurs to build serious technology, not just quick digital products.

Key takeaways –

• PM Modi announced the Rs. 1 lakh crore innovation fund during his Independence Day 2026 speech.
• The announcement is linked to India’s wider RDI Fund framework for research, development and innovation.
• The fund is focused on deep-tech, AI, biotech, space, robotics, clean energy, medical devices and strategic technology areas.
• Startups may access support through approved fund managers such as TDB and BIRAC.
• Founders should prepare technical proof, clear milestones, funding plans and market use cases before applying.

Bluehill.VC has closed its maiden fund at Rs. 400 crore, including a Rs. 50 crore greenshoe option. The Chennai-based venture capital firm will use the fund to back early-stage startups working in frontier-tech areas such as defence, space, semiconductors, energy, advanced manufacturing, robotics and industrial technologies.

This is an important moment for India’s deeptech ecosystem. For years, venture capital in India was mostly known for consumer internet, fintech, ecommerce and software startups. Bluehill.VC is placing its bet on a different kind of founder – someone building hard technology that may take longer to develop but can create stronger long-term value.

The fund has investors including SIDBI and the governments of Kerala and Uttar Pradesh. Family offices, entrepreneurs and high-net-worth individuals from India and the Middle East have also invested in the fund.

What Bluehill.VC Does

Bluehill.VC is an early-stage venture capital firm focused on frontier technology. Frontier-tech means new, difficult and research-heavy technology that can create large real-world impact.

In simple words, Bluehill is not looking for another app that copies an existing model. It wants to back companies building original technology through science, engineering and intellectual property.

For example, a startup building reusable launch vehicles for space missions fits this fund’s interest. So does a company working on counter-drone systems, semiconductor chips, advanced materials or new energy systems.

These are not easy businesses. They often need labs, testing, hardware, manufacturing, government approvals and patient capital. That is why specialized investors matter.

Founders And Founding Year

Bluehill.VC was founded in 2024 by Manu Iyer and Sridhar Parthasarathy.

Manu Iyer is the managing partner and co-founder. He has been involved in India’s deeptech ecosystem for years and has worked closely with technical founders.

Sridhar Parthasarathy is also managing partner and co-founder. He has spoken about the need to back founders who build from first principles rather than making small improvements to existing products.

Their investment style is built around technical depth. In frontier-tech, this matters because investors need to understand whether a startup is building something truly defensible or only making a good presentation around a difficult topic.

Fund Purpose

The main purpose of Bluehill.VC’s maiden fund is to support early-stage Indian startups building foundational technology.

The fund will invest from seed to Series A stages. Its initial cheque size will usually range from $1 million to $2 million. Bluehill plans to build a focused portfolio of 15 to 16 companies.

This concentrated approach is useful in frontier-tech. These startups often need more hands-on support than regular software companies. They may need help with technical validation, customer pilots, government relationships, manufacturing partners, follow-on investors and hiring.

Bluehill has already deployed more than Rs. 100 crore across seven companies. It also plans to invest another Rs. 80 crore over the next six months.

What Kind Of Startups Will Get Backing

Bluehill.VC will focus on startups where technology and intellectual property sit at the core of the product.

Its areas of interest include space, defence, nuclear energy, electric vehicles, semiconductors, advanced materials, robotics, water, industrial technology and manufacturing.

A practical example makes this easier to understand. A normal software startup may build a delivery app and grow quickly if users like it. A frontier-tech startup may spend years building a new propulsion system, chip design or industrial robot before revenue becomes large.

But if the technology works, the company can become very hard to copy. That is the kind of long-term value Bluehill wants to find.

Current Portfolio of Bluehill

Bluehill has already invested in companies such as EtherealX, Zebu Intelligent Systems, Sophrosyne Technologies, optoML and Helex.

EtherealX is a space-tech startup working on reusable launch vehicles. Zebu Intelligent Systems is building counter-drone technology. Sophrosyne Technologies and optoML operate in the semiconductor space. Helex is a biotech company working on advanced therapeutics.

These investments show the fund’s real direction. It is not using deeptech as a buzzword. It is backing companies where science and engineering are central to the business.

Why This Fund Matters For India

India is trying to build strength in areas like defence manufacturing, space technology, electronics, semiconductors and clean energy. These sectors need more than policy support. They also need risk capital.

Banks usually do not fund very early deeptech companies because the risk is high and the timelines are long. Traditional venture funds may also hesitate because hardware-heavy startups can take longer to show results.

That is where funds like Bluehill can play an important role. They can provide early capital when the technology is promising but still needs validation.

For India, this is important because frontier-tech companies can reduce import dependence, create high-skilled jobs and build products for both domestic and global markets.

Competitors And Market Landscape

Bluehill.VC is part of a growing group of Indian funds that are looking seriously at deeptech and frontier-tech startups.

Its peers and competitors include Speciale Invest, Ideaspring Capital, MGF-Kavachh, pi Ventures, YourNest, Endiya Partners and some deeptech-focused programs backed by government institutions.

MGF-Kavachh, for example, focuses on defence, space and deeptech. Speciale Invest has backed startups in space, climate, semiconductors and enterprise technology. Ideaspring Capital has also invested in early-stage technology companies with strong IP.

This competition is healthy. Frontier-tech founders need more investors who understand long build cycles, technical risk and the need for patient support.

Challenges Ahead

Bluehill.VC has closed a strong maiden fund, but the real test starts now.

Frontier-tech investing is difficult. Some products may fail during testing. Some may need more capital than expected. Some may face slow customer adoption, especially if they sell to large enterprises or government-linked sectors.

Exit timelines can also be longer. A consumer app can scale quickly if users love it. A semiconductor, biotech or space-tech startup may need many years before it reaches commercial scale.

Still, the upside can be meaningful. If even a few companies from the fund become category leaders, Bluehill can build a strong position in India’s next wave of technology investing.

Conclusion With Key Takeaways

Bluehill.VC’s Rs. 400 crore maiden fund is a strong signal for India’s frontier-tech market. The firm is backing early-stage startups that are solving hard engineering and scientific problems, not just building copycat internet businesses.

The fund’s purpose is clear – support Indian founders building original, IP-led technology in sectors such as space, defence, semiconductors, energy, robotics and advanced manufacturing.

Key takeaways –

• Bluehill.VC has closed its maiden fund at Rs. 400 crore, including a Rs. 50 crore greenshoe option.
• The firm was founded in 2024 by Manu Iyer and Sridhar Parthasarathy.
• The fund will invest from seed to Series A stages.
• Initial cheques will typically range from $1 million to $2 million.
• Bluehill plans to build a focused portfolio of 15 to 16 companies.
• Its portfolio already includes EtherealX, Zebu Intelligent Systems, Sophrosyne Technologies, optoML and Helex.

Facts Input- ToI, BS, YS

Mirae Asset Venture Investments India has hit the first close of its new India-focused fund at around $118 million, or about Rs. 1,125 crore, according to recent reports. The fund will be used to back Indian startups that have moved beyond the idea stage and are ready for serious growth.

This comes at a time when startup funding in India is more selective than it was during the 2021 boom. Investors are no longer writing large cheques only for fast user growth. They want clearer business models, stronger revenue, better margins and a real path to exits.

For Indian founders, Mirae Asset’s fresh fund is a positive signal. It shows that large global investors still believe India can produce strong technology companies, especially in sectors where digital adoption, consumption and financial services are growing steadily.

What Mirae Asset’s New Fund Means

A first close means the fund has secured its first set of committed capital from investors and can begin deploying money. The fund may raise more capital later before reaching its final close.

In simple words, Mirae now has a fresh pool of money ready for Indian startups. The focus will be early-growth companies. These are startups that already have a product, customers and some market proof, but need capital to grow faster.

For example, a fintech company that has built a lending product and found strong customer demand may need funds to improve technology, meet compliance needs and expand to more cities. A logistics startup may need money to strengthen operations, hire teams and build better software. That is the type of stage where a fund like this can become useful.

Fund Purpose – Why Mirae Is Raising Fresh India Capital

The main purpose of this fund is to support Indian startups during the early-growth phase.

This stage is important because many startups struggle after the first few years. They may have product-market fit, but they need money and guidance to build larger teams, improve systems, enter new markets and prepare for future funding rounds.

Mirae Asset has already backed Indian companies such as Shadowfax, Dhan, Snabbit and KreditBee. These names show the firm’s interest in sectors like logistics, fintech, consumer services and digital platforms.

The new fund gives Mirae more room to continue this strategy. It can invest in companies that are growing but still need long-term capital and patient support.

Mirae Asset – Background And India Journey

Mirae Asset is part of Mirae Asset Financial Group, a South Korea-headquartered financial services group founded in 1997. The group has built a global presence across asset management, venture capital, ETFs and alternative investments.

Mirae Asset Venture Investments India operates as the group’s venture investment arm in India. Its public profile describes it as a multi-stage technology venture capital firm based in Mumbai.

The firm has been active in India’s startup market for years. Its India portfolio has included companies such as Ola, BigBasket, Zomato, Shadowfax, KreditBee, Dhan, ShareChat, Unacademy, Jupiter and Jai Kisan.

This background matters because venture investing is not only about one new fund. A firm’s past portfolio, founder network and follow-on support often decide how useful it can be for startups.

Why This Fund Matters Now

The timing of the fund is important.

Over the last few years, Indian startups have faced a tighter funding market. Many companies had to cut costs, focus on profitability and slow down expansion. Investors became more careful after seeing high valuations fall in several sectors.

In this environment, a fresh India-focused fund tells founders that money is still available, but it is chasing better-quality businesses.

For startups, this can be healthy. Instead of chasing growth at any cost, founders may focus on building stronger companies. Investors like Mirae can then back businesses that have real demand, better economics and a clearer route to scale.

What Kind Of Startups Could Benefit

Mirae Asset is likely to look at technology-led companies in sectors where India has large market opportunities.

Fintech is an obvious area. India has seen strong growth in payments, credit, stockbroking, wealthtech and insurance platforms. Mirae’s investment in KreditBee and Dhan fits this direction.

Logistics and mobility are also important. Shadowfax is one example from its portfolio. As ecommerce, quick commerce and direct-to-consumer brands grow, logistics startups can solve real operational problems.

Consumer internet and digital platforms may also remain attractive, but investors are now more careful in this space. Startups need repeat users, strong revenue and lower dependence on discounts.

AI, enterprise software and digital infrastructure may also interest funds like Mirae, especially if the startups are solving business problems instead of only building trendy tools.

How This Helps Indian Founders

For founders, a fund like this can help in more than one way.

• First, it provides growth capital. Startups can use the money to hire stronger teams, improve technology, expand distribution and enter new markets.
• Second, it can help with credibility. When a recognized investor backs a startup, later investors, enterprise customers and partners may take the company more seriously.
• Third, Mirae’s global network can help companies that want to expand beyond India. This is useful for startups in fintech, SaaS, logistics technology and consumer brands with international ambitions.

Competitors In India’s Venture Capital Market

Mirae Asset will compete with several active venture capital firms in India.

Its competitors include Peak XV Partners, Accel, Lightspeed, Elevation Capital, Matrix Partners India, Blume Ventures, Nexus Venture Partners, 3one4 Capital and Stellaris Venture Partners.

Some of these funds focus heavily on seed and early-stage startups. Others invest across stages. Mirae’s advantage is its global financial backing and its experience investing in growth-stage Indian technology companies.

The competition is good for founders. More active funds mean more choices. But it also means startups must be clearer about their numbers, customer demand and long-term plan.

What Investors Are Looking For Now

The mood in venture capital has changed.

A few years ago, many investors were comfortable funding fast growth even if losses were very high. Today, the questions are sharper. Is the startup solving a real problem? Can it make money from each customer? Is the market large enough? Can it survive without constant discounting?

This makes Mirae’s new fund more interesting. It is arriving in a market where good founders may get serious attention, but weak business models may struggle.

For example, a startup with loyal paying customers and improving margins may raise capital more easily than a startup with only app downloads and no clear revenue.

Conclusion With Key Takeaways

Mirae Asset’s first close of its new India-focused fund at around $118 million is a strong sign of confidence in India’s startup ecosystem. The fund is expected to back early-growth companies that already have traction and are ready to scale.

The larger message is clear. Indian startups still have investor interest, but the bar is higher now. Founders need real products, paying customers, disciplined spending and a clear growth plan.

Key takeaways –

1. Mirae Asset Venture Investments India has hit the first close of its new India-focused fund at about $118 million, or around Rs. 1,125 crore.
2. The fund will focus on early-growth Indian startups.
3. Mirae Asset Financial Group was founded in 1997 in South Korea.
4. Mirae’s India portfolio includes Shadowfax, Dhan, Snabbit, KreditBee, Ola, BigBasket and Zomato.
5. The fund comes during a more selective funding market, where investors are looking for stronger business fundamentals.

Facts Input- BWDisrupt

Astrotalk has reportedly entered India’s unicorn club with a valuation of around $1 billion after employee ESOPs buyback. For a startup working in online astrology and spiritual services, this is a big moment. It also says something interesting about India’s consumer internet market – not every large digital business has to look like ecommerce, fintech or food delivery.

A unicorn is a privately held startup valued at $1 billion or more. In Astrotalk’s case, the journey is unusual because the company has grown with strong revenue and profits, not only with investor money.

The Noida-based platform connects users with astrologers through chat, voice and video calls. Astrology is a belief-based service and the business demand around it is very high. Astrotalk has turned that demand into a fast-growing digital platform.

What Astrotalk Does

Astrotalk is an online astrology and spiritual-tech platform. Users can open the app or website and consult astrologers for topics like marriage, career, relationships, health, finance and personal guidance.

The company earns money by charging users for consultations. Astrologers on the platform get paid for their time, while Astrotalk keeps a platform fee.

This is similar to a marketplace model. Just like food delivery apps connect restaurants and customers, Astrotalk connects astrologers and users. The difference is the category – instead of food, cabs or shopping, the product here is personal guidance through astrology.

Founders And Founding Year

Astrotalk was founded in 2017 by Puneet Gupta and Anmol Jain.

Puneet Gupta is the co-founder and CEO. Before Astrotalk, he had built CodeYeti Software Solutions, an IT services company. CodeYeti was later pivoted into Astrotalk in October 2017, according to the report.

Anmol Jain is the co-founder and has played an important role in scaling the platform and its astrologer network.

The company’s growth story is also interesting because it did not start with massive venture funding. Astrotalk raised institutional capital much later, after building strong traction.

How Astrotalk Became A Unicorn

Astrotalk’s rise to a $1 billion valuation did not happen because of one sudden trend. It came from a mix of timing, business model, user behaviour and profitability.

• First, online astrology became more acceptable after smartphones and digital payments became common. Earlier, users had to visit an astrologer physically or rely on local references. Astrotalk made the service available instantly through mobile chat and calls.
• Second, the company built repeat usage. Many users do not come only once. They may return for follow-up questions, festival-related rituals, relationship doubts or career concerns. This repeat behaviour helps revenue grow without depending only on new users.
• Third, Astrotalk has been profitable. Inc42 reported that the company’s FY25 revenue was around Rs. 1,200 crore, with profit of about Rs. 250 crore. Moneycontrol reported that Astrotalk crossed Rs. 1,176 crore in revenue from operations in FY25.

For investors, this is important. Many startups reach high valuations while still burning money. Astrotalk’s case is different because it has shown strong revenue and profit growth together.

The Role Of Funding

Astrotalk has not raised as much money as many other unicorns. Its earlier institutional rounds included funding from Left Lane Capital, Elev8 Venture Partners and others.

In 2024, Astrotalk raised about $34 million across its Series A rounds. At that time, its valuation was reported around $300 million.

Later reports said the company was in talks to raise fresh capital at a valuation above $1 billion. The new unicorn status appears to come from that valuation jump, supported by strong revenue, profit and IPO expectations.

One point to keep in mind – startup valuations can be based on fresh funding, secondary share sales, or a mix of both. A secondary sale means existing shareholders sell part of their stake to new investors. It does not always mean all the money goes into the company.

Why Investors Like Astrotalk

Investors usually like three things – growth, profit and a large market. Astrotalk has managed to show all three.

India has a large astrology and spiritual services market, but it has traditionally been unorganised. People buy gemstones, rudraksha, puja services, horoscope reports and consultation services from many small vendors. Astrotalk is trying to bring this into one digital ecosystem.

The company is also expanding beyond consultations. Its ecommerce arm, Astrotalk Store, sells spiritual products such as gemstones, rudraksha, bracelets, idols and ritual items. As per report, Astrotalk Store generated more than Rs. 140 crore in revenue in 2025 and was running at an annualized rate of over Rs. 200 crore.

This gives Astrotalk a second revenue engine. A user may first come for an astrology consultation and later buy a recommended product or service from the platform.

Competitors In The Spiritual-Tech Space

Astrotalk competes with platforms such as Astroyogi, InstaAstro, AstroSage and GaneshaSpeaks in online astrology.

It also faces competition from broader spiritual-tech startups like AppsForBharat and Vama, which focus more on devotional content, online puja and temple-related services.

Astrotalk’s advantage is its strong consultation business, brand recall and profitable scale. Its challenge will be trust. In a sensitive category like astrology, users want reliable service, transparent pricing and protection from poor-quality advice.

Other Indian Unicorns So Far

India’s unicorn list has grown more slowly than during the 2021 funding boom, but new names are still entering the club.

In 2026, Indian unicorns include Juspay, Neysa, KreditBee, Skyroot Aerospace, Sarvam AI, Square Yards and Emergent. Astrotalk now adds a very different category to the list – spiritual consumer internet.

This makes the market more diverse. One side has AI companies like Sarvam AI and Emergent. Another side has space-tech companies like Skyroot. Fintech names like Juspay and KreditBee show the strength of digital finance. Astrotalk shows that culture-led consumer platforms can also become large businesses.

What Happens Next

Astrotalk’s next big milestone could be its IPO. The company has been preparing for a public listing, and earlier reports said it may look at going public around 2027.

Before that, it will need to keep proving that its growth is sustainable. Public market investors will look closely at revenue quality, profit margins, customer repeat rates, marketing costs, compliance and category risks.

The company may also continue expanding into international markets, offline stores and spiritual commerce. If it can become a trusted spiritual services brand, not just an astrology app, its market can become much wider.

Conclusion With Key Takeaways

Astrotalk’s reported $1 billion valuation is a major moment for India’s spiritual-tech market. The company has shown that a culturally rooted service can become a large digital business when it is organised well, priced clearly and delivered through a convenient app.

Its rise has come from strong consultation revenue, repeat users, profitability, ecommerce expansion and investor belief in its IPO path.

Key takeaways –

• Astrotalk has reportedly become India’s latest unicorn at around $1 billion valuation.
• The company was founded in 2017 by Puneet Gupta and Anmol Jain.
• Astrotalk connects users with astrologers through chat, voice and video calls.
• The company reported strong FY25 revenue and profit growth.
• Its ecommerce arm, Astrotalk Store, is becoming an important second business.
• Other recent Indian unicorns include Sarvam AI, Emergent, Skyroot Aerospace, Juspay, KreditBee, Neysa and Square Yards.

Facts Input- APACNews

Accel has raised $550 million for its ninth India-focused early-stage fund, showing that large venture investors still see strong promise in India’s startup market. The new fund comes just 18 months after Accel closed its earlier $650 million India fund.

The timing is worth watching. Startup funding has become more careful over the last few years. Investors are asking harder questions about revenue, margins and public-market exits. Even then, Accel is adding fresh capital for Indian founders, mainly at the seed and early stages.

For young startups, this matters because early capital can decide how fast a company builds its product, hires its first team and finds paying customers. Accel’s new fund is meant to support that first serious phase of company-building.

What Accel’s New India Fund Means

Accel’s ninth India fund is a $550 million pool of capital focused on early-stage startups. In simple words, the firm will use this money to invest in young companies that are still building their product, market and team.

According to report, Accel expects to back around 15 to 30 companies every year through its India strategy. The firm generally prefers to enter early, often when a startup is raising its first institutional money.

That is important because early investors usually do more than provide funds. They help founders think through product direction, hiring, pricing, fundraising and expansion.

For example, a founder building an AI tool for banks may have a strong product idea but may not know how to sell to large financial institutions. A venture fund with experience in fintech and enterprise software can help with early customer introductions, hiring plans and later funding rounds.

Accel – Founders And India Journey

Accel was founded in 1983 by Arthur Patterson and Jim Swartz. The firm is headquartered in Palo Alto and has backed major global technology companies over the years.

Its India journey started in 2005, when the country’s digital economy was still small compared with today. Accel later built a deeper India presence and became one of the best-known early backers of Indian startups.

Accel’s India portfolio includes names such as Flipkart, Freshworks, Swiggy, Urban Company, BlackBuck, BrowserStack, Acko, Zetwerk and BlueStone. These investments gave the firm a strong reputation for spotting companies early and staying with them as they grow.

Why The $550 Million Fund Matters

This fund matters for two reasons.

• First, it shows that India remains an important market for global venture capital. Accel has now raised $1.2 billion for India in about 18 months, including the previous $650 million fund and the new $550 million fund.
• Second, it comes at a time when exits are becoming more visible in India. Accel has seen five of its portfolio companies list in India, with more in the pipeline. Public listings are important because they give investors a route to return money to their own backers.

In venture capital, this is a big deal. Investors do not only need startups to grow. They also need exits through IPOs, acquisitions or secondary share sales. A healthier IPO market makes it easier for funds to keep investing in new companies.

Aim And Purpose Of Accel’s Ninth India Fund

The main aim of Accel’s ninth India fund is to keep backing early-stage founders in India before their companies become obvious winners.

Accel is expected to stay close to its core style – investing early, taking long-term bets and supporting startups through later rounds when needed. The firm has said earlier that it likes to be among the first serious partners for founders.

The new fund also helps Accel stay ready when good opportunities appear. The firm still has a large part of its previous $650 million India fund left to deploy. So this new fund is not about rushing into deals. It is more about keeping capital available for the next cycle of strong companies.

That is a practical move. In startups, the best companies do not arrive on a fixed schedule. A fund needs dry powder, which simply means money available to invest when the right founder and market appear.

Key Sectors Accel Will Focus On

Artificial intelligence will be a major focus area for the new fund. Accel is expected to look at AI across consumer products, financial services and manufacturing.

This is not surprising. AI is changing how products are built. A small team can now create tools that earlier needed a much larger engineering team. That can make startups faster and more capital-efficient.

Fintech will also remain important. India’s digital payments, lending, wealth and insurance markets continue to create space for new companies.

Manufacturing is another area to watch. Accel has backed companies in supply chain, industrial technology and manufacturing before. With India trying to grow its manufacturing base, startups in this field can solve real problems around procurement, automation, logistics, quality checks and financing.

Deeptech and advanced manufacturing are also emerging themes. These areas may take longer to build, but they can create strong companies if the technology works and the market is ready.

Why Accel Is More Careful On Consumer Brands

Accel is still interested in consumer startups, but it appears to be more selective in brands and consumer products.

The reason is simple. Many consumer brands can grow quickly at first, but they may hit a ceiling if the market size, margins or repeat purchases are not strong enough. Venture investors usually look for companies that can become very large.

That does not mean consumer startups are out of favour. It means investors may ask sharper questions. Is the product loved by customers? Can the brand expand beyond one category? Are margins healthy? Can the company grow without spending too much on marketing?

Accel may still back strong consumer outliers, but the bar is higher.

Competitors And Market Context

Accel is not alone in raising fresh India-focused capital. The Indian venture market includes strong players such as Peak XV Partners, Lightspeed, Elevation Capital, Matrix Partners India, Blume Ventures, Stellaris Venture Partners and Nexus Venture Partners.

Elevation Capital recently closed a $500 million ninth India-focused fund, showing that other established funds are also preparing for the next wave of early-stage startups.

Peak XV, formerly Sequoia India and Southeast Asia, remains one of the biggest names in the region. Lightspeed has also been active across consumer, fintech, enterprise and AI-led companies.

For founders, this competition is good. More active funds mean more choices. But it also means founders must be sharper about their business model, customer need and growth plan.

What This Means For Indian Founders

For Indian founders, Accel’s new fund is a positive signal, but not a free pass.

Investors are still selective. A startup needs more than a trendy idea. It needs a real problem, a strong team and some proof that customers care.

A founder building for AI, fintech, manufacturing or enterprise software may find more investor interest if the product solves a painful problem. For example, an AI tool that saves banks hours of manual document review may be more attractive than a generic chatbot with no clear buyer.

The message is clear. Capital is available, but it is chasing quality.

Conclusion With Key Takeaways

Accel’s $550 million ninth India fund shows that the firm continues to believe in India’s startup story. The fund will mainly back early-stage companies, with strong interest in AI, fintech, manufacturing, deeptech and selected consumer opportunities.

The real purpose of the fund is not just to write cheques. It is to find young companies early and help them grow into large, durable businesses. With more Indian startups reaching IPO stage, Accel has another reason to keep investing in the country.

Key takeaways –

• Accel has raised $550 million for its ninth India-focused early-stage fund.
• The fund comes 18 months after Accel’s earlier $650 million India fund.
• Accel was founded in 1983 by Arthur Patterson and Jim Swartz.
• The firm began investing in India in 2005.
• AI, fintech, manufacturing, advanced manufacturing and deeptech are expected to be key focus areas.

Facts Input- ToI

Aum Ventures has raised Rs. 225 crore in the first close of its new DeepTech-focused fund, giving fresh momentum to India’s growing hard-tech startup market. The fund, called India Innovation Fund II, has a larger target corpus of Rs. 750 crore.

This is an important development because DeepTech startups do not grow like regular consumer apps. They often need years of research, testing, engineering and customer validation before they become large businesses. A rocket company, a semiconductor startup or an advanced robotics firm cannot be built with quick experiments alone.

Aum Ventures wants to back such companies early, when the idea is still taking shape but the technology is strong. The fund will focus on Indian founders building original technology that can compete not only in India, but also in global markets.

What Aum Ventures has announced

Aum Ventures has completed the first close of Rs. 225 crore for India Innovation Fund II. The fund is targeting Rs. 750 crore in total and will invest mainly in pre-seed and seed-stage startups.

The fund plans to back around 25 to 30 companies. Initial cheque sizes are expected to be between $750,000 and $2 million. Aum also plans to keep capital aside for follow-on rounds, which means it can support its stronger portfolio companies later at Series A and Series B stages.

According to YourStory, more than 65 percent of the first-close commitments came from international limited partners across markets such as the US and the Middle East. Limited partners are the investors who put money into a venture capital fund.

This global backing is important. It shows that overseas investors are taking Indian DeepTech more seriously than before.

Founders and background

Aum Ventures was founded in 2022 by Chetan Mehta. The firm is based in Mumbai and focuses on early-stage, IP-led startups. IP means intellectual property, which can include patents, proprietary designs, specialized software, scientific research or engineering know-how.

Nisha Shah is General Partner at Aum Ventures and is part of the leadership team. The firm’s wider team also includes professionals working across investment, finance, investor relations and portfolio support.

Aum’s first fund was launched in 2023. As per reports, the firm says Fund I has delivered a gross MOIC of 2.23x and a gross IRR of 53 percent. In simple language, MOIC shows how much the value of invested capital has multiplied, while IRR is a return measure based on time.

What is the aim of the fund?

The main aim of the Aum Ventures DeepTech Fund is to help Indian founders build serious technology companies from the earliest stage.

The fund will focus on sectors like space technology, semiconductors, defence technology, artificial intelligence, robotics, energy transition and advanced manufacturing. These are areas where India wants to become stronger over the next decade.

The purpose is not just to write cheques. DeepTech founders often need help with hiring, product planning, industry partnerships, global customers, government relationships and future fundraising. A fund with a focused thesis can support founders better than a general investor who may not understand long research cycles.

For example, a chip startup may need money for design, testing and fabrication support. A space startup may need capital for hardware, launch readiness and regulatory work. A robotics startup may need years of trials before large industrial customers trust the product.

That is why patient capital matters.

Why DeepTech funding is different

A food delivery app can test a new city quickly. A software company can launch a product online and get early users in weeks. DeepTech is different.

Here, the product may involve physics, hardware, manufacturing, safety testing or advanced science. Mistakes can be expensive. Timelines are longer. Teams need deep technical talent. Customers may also take longer to sign because the product has to work reliably in the real world.

This is why early-stage DeepTech funds are important. They understand that the first few years may be spent proving the technology before revenue becomes large.

Aum Ventures appears to be betting on this exact gap. It wants to enter early, support founders through difficult development stages and help them reach global markets.

Portfolio signals and Skyroot example

Skyroot Aerospace is one of the strongest examples in Aum’s portfolio story. Aum was an early institutional investor in the spacetech company.

Skyroot’s Vikram-I became the first privately developed Indian rocket to reach orbit from Indian soil on July 18, 2026. Earlier, in May 2026, Skyroot also became India’s first spacetech startup to reach a $1 billion valuation after raising $60 million.

This example matters because it shows the type of startup Aum wants to support. These are not companies built only for short-term trends. They are companies trying to create new technology categories from India.

Aum has also backed companies such as Azimuth AI, Cosmoserve Space and Sharang Shakti, according to earlier reports and the firm’s own public material.

Government support is helping the sector

Aum’s fundraise is happening at a time when India is putting more policy support behind DeepTech.

India’s Rs. 1 lakh crore Research, Development and Innovation Fund was approved in 2025 to encourage private-sector participation in high-risk research and development. The report also mentioned Startup India Fund of Funds 2.0 with a Rs. 10,000 crore corpus, which includes DeepTech and innovative manufacturing.

The government has also created a dedicated Deep Tech Startup category. This matters because DeepTech startups take longer to mature than normal startups. The recognition age limit has been extended to 20 years, while the turnover limit has been raised to Rs. 300 crore.

In semiconductors, the Cabinet approved Semicon 2.0 in July with an outlay of Rs. 1,27,500 crore. When public support and private capital move together, founders get a better chance to build long-term companies.

Competitors and market context

Aum Ventures is entering a busier DeepTech investment market. Several funds are now looking at sectors like AI, semiconductors, space, defence and advanced manufacturing.

Piper Serica recently raised Rs. 300 crore in the first close of its Rs. 800 crore Bharat Tech Fund. Other investors such as Inflexor Ventures, Navam Capital and deeptech-focused early-stage funds are also active in this space.

This competition is healthy for founders. More funds mean more choices, better sector understanding and stronger follow-on capital.

But it also means investors will be selective. DeepTech startups will still need to prove that their technology can become a real business. Strong engineering is important, but commercial clarity is equally important.

Conclusion – Key takeaways

Aum Ventures’ Rs. 225 crore first close is a strong signal for India’s DeepTech startup ecosystem. The fund is targeting Rs. 750 crore and plans to invest in 25 to 30 early-stage companies across space, semiconductors, AI, defence, robotics, energy transition and advanced manufacturing.

The fund’s real purpose is to support founders who are building hard, original and globally relevant technology from India. These companies may take longer to scale, but their impact can be much deeper if they succeed.

For India, this marks a shift in startup funding. The next wave may not come only from consumer apps or quick digital products. It may come from labs, factories, launchpads, chip design teams and engineering floors.

The Reserve Bank of India has proposed tighter rules for non-banking financial companies, better known as NBFCs. The biggest change being discussed is that NBFCs may not be allowed to offer revolving credit facilities freely unless they have specific approval.

This may sound technical, but the impact can be very real. Many borrowers use credit lines, app-based loans, buy-now-pay-later products and flexible repayment products offered by NBFCs. If RBI’s proposal becomes final, such products may become more structured, more transparent and possibly less risky.

The move is part of RBI’s wider effort to make lending safer, clearer and more responsible. NBFCs have become an important part of India’s credit system, especially for people and small businesses that may not always get easy bank loans. But fast growth also brings risk, and that is what the regulator wants to control.

What are NBFCs

NBFCs are financial companies that offer loans and other credit services, but they are not banks.

They lend to individuals, small businesses, vehicle buyers, gold loan customers, housing borrowers, MSMEs, consumer durable buyers and many others. Some popular examples of NBFCs include Bajaj Finance, Shriram Finance, Muthoot Finance, LIC Housing Finance, Tata Capital and Mahindra Finance.

NBFCs are important because they reach customers faster and often serve segments where banks may be slower. For example, a small shopkeeper may get a business loan from an NBFC more easily than from a large bank. A customer buying a mobile phone on EMI may also be financed by an NBFC.

What RBI has proposed

RBI has proposed that NBFCs should mainly offer term loans and should not provide revolving credit facilities without approval.

A term loan has a fixed amount, fixed tenure and a repayment schedule. For example, if you borrow Rs. 1 lakh for 24 months, you repay it through fixed EMIs.

A revolving credit facility is different. It works more like a credit card or credit line. A borrower gets a limit, uses money when needed, repays it, and can use the limit again. This can be convenient, but it can also become risky if borrowers keep using credit without clear repayment discipline.

RBI’s concern seems to be that open-ended credit can create hidden debt stress for borrowers and higher risk for lenders.

Why RBI wants tighter norms

The main reason is financial discipline.

In recent years, digital lending has grown fast. Many NBFCs and fintech-linked lenders now offer instant loans, credit lines, consumer loans and app-based borrowing. This has helped many people get credit quickly, but it has also created concerns around over-borrowing, unclear charges and aggressive recovery practices.

RBI wants lending to be more transparent. Borrowers should know how much they are borrowing, how much they must repay, by when, and at what cost.

The regulator also wants to reduce risk in the financial system. If many borrowers take flexible credit and later fail to repay, NBFCs can face stress. Since NBFCs borrow from banks and markets, their stress can spread to other parts of the financial system.

How this may impact NBFCs

The impact on NBFCs can be significant.

• First, NBFCs may have to redesign some loan products. Credit lines, flexible EMI products and revolving credit products may need regulatory approval or restructuring.
• Second, growth may slow in some consumer lending segments. Products that depend on repeat borrowing may become harder to offer.
• Third, compliance costs may rise. NBFCs may need stronger systems, clearer documentation, better borrower checks and tighter monitoring.
• Fourth, profitability may be affected for companies that earn heavily from revolving credit or flexible lending products.

This is why shares of some financial companies reacted negatively after the proposal was reported. Investors worry that stricter rules may reduce business flexibility.

How this may impact borrowers

For borrowers, the impact can be mixed.

The good part is that loans may become safer and clearer. Borrowers may get more structured repayment plans, fewer surprises and better protection from confusing credit products.

A term loan is easier to understand. You know the loan amount, EMI, interest rate and end date. This helps people plan better.

The difficult part is that flexible credit may become less available. Some borrowers who use credit lines for short-term cash needs may find fewer options. Small businesses that depend on revolving credit for working capital may also feel some pressure if NBFCs tighten such products.

For example, a shop owner who uses a digital credit line to buy stock and repay after sales may need to move to a fixed-tenure working capital loan instead.

Interest rate transparency may improve

Another important discussion is around loan pricing.

Reports say RBI is also looking at more uniform interest rate norms for banks and NBFCs. This means borrowers may get clearer information on how their loan interest rate is decided and how it changes.

This can be useful because many borrowers do not fully understand processing fees, interest rates, penal charges and repayment costs.

Better transparency can help people compare loans more fairly. A borrower can ask, “What is the real cost of this loan?” instead of only looking at the EMI amount.

Recovery practices are also under focus

RBI has also been tightening rules around loan recovery.

Recent updates on recovery practices include stronger borrower protection, limits on harassment, recorded communication and clearer conduct rules for recovery agents. RBI has also issued rules around device-locking in cases where phones, laptops or tablets are financed through loans.

This matters because borrowers should not be treated unfairly even if they miss payments. Lenders have the right to recover dues, but recovery must be lawful and respectful.

Who will benefit from tighter norms

Responsible borrowers may benefit because loan products can become clearer and less risky.

First-time borrowers may benefit because they may get simpler repayment structures.

The financial system may benefit because NBFCs will have to manage risk more carefully.

Banks may also benefit indirectly because many banks lend to NBFCs. If NBFC lending becomes safer, bank exposure to NBFCs also becomes less risky.

However, some borrowers who depend on flexible credit may face reduced access in the short term.

Possible downside

The main downside is reduced credit availability for some customers.

NBFCs often serve borrowers who are ignored by traditional banks. If rules become too tight, some lenders may become cautious. This could affect small borrowers, gig workers, small businesses and customers with thin credit history.

There is also a risk that people may move toward informal lenders if formal credit becomes harder to access. That would not be healthy.

So the final rules must balance safety with access. India needs responsible lending, but it also needs enough credit for small businesses and households.

Conclusion with key takeaways

RBI’s proposed tighter norms for NBFCs are aimed at making lending safer, clearer and more disciplined. The biggest proposed change is around restricting NBFCs from offering revolving credit facilities without approval and pushing them toward structured term loans.

For NBFCs, this may mean product changes, higher compliance and slower growth in some lending categories. For borrowers, it may mean clearer loans and better protection, but possibly fewer flexible credit options.

Key takeaways –

1. RBI has proposed tighter norms for NBFC lending.
2. NBFCs may be restricted from offering revolving credit without approval.
3. Term loans may become the main lending format for NBFCs.
4. Borrowers may get clearer repayment structures and better transparency.
5. Some customers may face reduced access to flexible credit products.

Facts Input- ToI, RBI, ET, ET

Piper Serica has raised Rs. 300 crore in the first close of its Bharat Tech Fund, a new deeptech-focused investment fund for Indian startups. The fund is targeting a total corpus of Rs. 800 crore.

This is an important update for India’s startup ecosystem because deeptech companies usually need more patient capital than regular software or consumer startups. They often build in difficult areas such as semiconductors, artificial intelligence, defence technology, spacetech, biosciences and fintech infrastructure.

Piper Serica is a Mumbai-based investment firm founded in 2003 by Abhay Agarwal. The firm already manages public market and startup investment strategies, and the Bharat Tech Fund is its larger push into India’s next phase of technology-led businesses.

What is Bharat Tech Fund

Bharat Tech Fund is Piper Serica’s new deeptech investment fund.

The fund plans to invest in startups at the Series A and Series B stage. These are companies that have usually moved beyond the idea stage and now need capital for product development, manufacturing, pilots, certifications, hiring and market expansion.

According to earlier fund launch details, Piper Serica plans to invest in around 22 companies. The expected cheque size is about Rs. 25 crore to Rs. 40 crore per startup.

This is meaningful because many deeptech startups in India struggle after seed funding. They may have strong technology, but need larger capital before customers, defence agencies, enterprises or global buyers can adopt their products at scale.

Why the Rs. 300 crore first close matters

A first close means the fund has secured enough investor commitments to start investing.

By raising Rs. 300 crore in its first close, Piper Serica has shown that Indian family offices, wealthy investors and long-term capital providers are becoming more comfortable with deeptech investing.

This is a shift. Earlier, many investors preferred faster-moving internet businesses because they could scale quickly. Deeptech is different. It takes longer, needs testing, and may involve hardware, research, regulation and complex sales.

But if successful, deeptech companies can build strong intellectual property and global businesses from India.

Aim and purpose of the fund

The main aim of Bharat Tech Fund is to back Indian founders building serious technology companies.

These are not startups that only create an app or resell software. The fund is looking at companies that build original technology, engineering capability and defensible products.

The focus areas include artificial intelligence, semiconductors, spacetech, defence technology, fintech infrastructure and biosciences. These sectors are important for India’s long-term technology independence.

For example, a semiconductor startup may need money for chip design validation. A defence-tech startup may need field trials. A spacetech company may need capital for hardware testing. A bioscience startup may need research partnerships and regulatory work.

Bharat Tech Fund wants to support such companies when they are ready to move from early promise to serious scale.

Why India needs deeptech funds

India has strong engineering talent, but deeptech companies need more than talent.

They need labs, patient investors, manufacturing partners, testing facilities, government connections, enterprise customers and technical mentors. They also need investors who understand that revenue may take time.

A normal consumer startup may launch quickly and improve based on user feedback. A drone, chip, battery, satellite or biotech startup cannot move that way. One product cycle may take months or years.

This is why dedicated deeptech funds are important. They can understand technical risk better than general investors and give founders the right kind of support.

How Piper Serica may find startups

Piper Serica has said it works with institutions and innovation platforms such as IIT Madras, IIT Delhi, IIT Bombay, IISc Bengaluru, iDEX, IN-SPACe and DRDO-linked ecosystems.

This is important because many deeptech ideas begin inside research labs, engineering campuses and government-supported innovation programmes.

The firm also uses its own AI-assisted screening tool, Yoda.ai, to evaluate startups. But in deeptech, software screening alone is not enough. Investors also need technical review, founder assessment, market study and customer validation.

Piper Serica’s approach appears to mix research networks, institutional sourcing and disciplined investment checks.

Competitors

Bharat Tech Fund is entering a growing deeptech investment market.

Other investors active in India’s deeptech space include Speciale Invest, pi Ventures, Endiya Partners, Blume Ventures, 3one4 Capital, Celesta Capital, growX Ventures and deeptech-focused arms of larger firms.

Recent fund launches by firms such as Fundamentum and Shastra VC also show rising investor interest in AI, defence, spacetech, climate tech and advanced engineering startups.

This competition is healthy. India needs more capital at different stages: seed, Series A, Series B and growth. Deeptech founders often struggle most when they move from prototype to commercial deployment. Funds like Bharat Tech Fund can help fill that gap.

Future impact

If Bharat Tech Fund is deployed well, it can help create stronger Indian technology companies in strategic sectors.

The impact may show up in several ways. India may see more startups building chips, defence systems, AI infrastructure, satellite tools, biotech platforms and fintech rails. Some may serve Indian markets first. Others may sell globally.

The fund can also help create high-quality jobs for engineers, scientists, product leaders and manufacturing teams.

But success will depend on selection and patience. Deeptech investing is risky. Not every promising technology becomes a large business. The winners need strong founders, real customer demand, technical depth and capital discipline.

Conclusion with key takeaways

Piper Serica’s Rs. 300 crore first close for Bharat Tech Fund is a strong signal for India’s deeptech ecosystem. The fund is targeting Rs. 800 crore and plans to back Series A and Series B startups working in sectors that can shape India’s technology future.

The larger message is clear. India’s startup market is moving beyond apps and marketplaces. More capital is now flowing toward companies building hard, original and globally relevant technology.

Key takeaways –

• Piper Serica has raised Rs. 300 crore in the first close of Bharat Tech Fund.
• The fund is targeting a total corpus of Rs. 800 crore.
• It will focus on deeptech sectors such as AI, semiconductors, defence, spacetech, biosciences and fintech infrastructure.
• Piper Serica was founded in 2003 by Abhay Agarwal.
• The fund plans to invest in Series A and Series B startups, with expected cheques of around Rs. 25 crore to Rs. 40 crore.

Facts Input- Dealstreetasia