Get real time updates directly on you device, subscribe now.
Industrial AI company Ripik.ai is reportedly in advanced discussions for a large funding round, fintech infrastructure provider OneStack has closed a Rs. 12.5 crore round, and Gujarat has introduced a new Rs. 10 crore Growth Fund for technology-led startups.
The developments matter because they cover three important areas – AI for factories, digital payments for cooperative banks and early support for science and technology startups.
Ripik.ai reportedly in talks for Rs. 140-150 crore
As reported in VI, Noida-based Ripik.ai is reportedly in advanced talks to raise Rs. 140 crore to Rs. 150 crore from private-equity firm Gaja Capital. The transaction has not been officially confirmed, and the final amount, valuation, terms and closing date could change.
Founded in 2021 by Pinak Dattaray, Ripik.ai builds AI-based visual systems for large industrial plants. Its technology uses cameras, sensors and proprietary AI models to monitor equipment, materials and production processes in industries such as cement, steel, metals and chemicals.
For example, a cement plant can use computer vision to monitor the movement of materials on a conveyor belt or identify unusual conditions around equipment. This can help managers spot problems earlier, reduce waste and improve factory operations.
Ripik.ai already counts Accel and Venture Highway, now part of General Catalyst, among its backers. A potential Gaja Capital investment would give the company capital for its next growth phase, although Ripik.ai has not publicly shared a confirmed use-of-funds plan for the proposed round.
The company operates in a competitive industrial AI market, where businesses must prove that their tools deliver measurable improvements in safety, efficiency and production quality.
OneStack raises Rs. 12.5 crore for cooperative-bank technology
OneStack has raised Rs. 12.5 crore in a funding round led by Shepherd’s Hill. Existing investors Pentathlon Ventures and AVNM Ventures also participated.
Founded in 2019 by Amit Kapoor and Vishal Gupta, OneStack provides digital banking infrastructure to cooperative banks, credit societies and other smaller financial institutions. Its products include mobile banking, core banking systems, UPI services, QR payments, debit-card management and compliance tools.
As per IST, the new funding will be used to expand OneStack’s work with cooperative banks and NBFCs, or non-banking financial companies. The startup also plans to develop its payments, core banking and regulatory-compliance offerings.
A key part of OneStack’s strategy is helping cooperative banks connect directly to NPCI’s UPI network as issuers and acquirers. An issuing bank gives customers UPI IDs, while an acquiring bank helps merchants receive digital payments.
This can allow a cooperative bank to offer UPI services under its own identity rather than depending completely on another bank or intermediary. In practical terms, a local cooperative bank can maintain a closer relationship with its customers and merchants while offering familiar digital-payment services.
OneStack says it serves more than 200 banks and has access to a wider network through its banking partnerships. It will compete with other fintech and banking-technology providers serving smaller banks and financial institutions.
Gujarat launches Rs. 10 crore Growth Fund
Gujarat has launched the G₹OWTH Fund, a Rs. 10 crore support programme for science and technology-driven startups. The initiative was introduced by the Savli Technology and Business Incubator at the GInTech Conclave in Gandhinagar.
The fund is designed to help startups cross the difficult gap between a laboratory idea and a market-ready product. Early-stage startups can receive grants of up to Rs. 30 lakh for proof-of-concept work, technology validation and trials.
More advanced startups can seek up to Rs. 2 crore through equity-linked convertible funding. This is funding that may convert into company ownership at a later stage, based on agreed terms.
The scheme is particularly relevant for deep-tech founders working in areas such as AI, semiconductors, green energy, biotechnology, defence and advanced manufacturing. A startup developing a new industrial sensor, for instance, may use grant support to test a prototype before seeking larger commercial funding.
Applicants must meet the fund’s eligibility criteria, including requirements linked to company age, Indian ownership, revenue and operations in Gujarat. Applications are open until November 24, 2026, according to the Savli incubator.
Disclaimer
This article is for informational purposes only and is not investment or financial advice. Ripik.ai’s reported funding discussions remain subject to final agreements.
Discover more from Newskart
Subscribe to get the latest posts sent to your email.
