India’s startup funding activity is spreading across several technology-heavy sectors. Recent deals involving NuSynth Technologies, OXG Space, RevRag AI and Circle show how investors are backing companies working in complex chemistry, space infrastructure, financial services and digital platforms.

The funding purposes are different, but the larger theme is similar. These startups are trying to turn specialized technology into practical products and scalable businesses.

NuSynth Technologies focuses on smarter chemical production

Bengaluru-based NuSynth Technologies has raised Rs. 36.5 crore in seed funding. The round was co-led by Avaana Capital and Shastra VC.

The startup is developing an AI-enabled platform for complex chemical research. Its system is designed to study experimental data, improve molecule selection and help researchers identify more efficient chemical processes.

The company is initially focusing on pharmaceuticals and electronics chemicals. Its aim is to develop processes that can improve cost efficiency, production yield, safety and sustainability.

The new funding will support NuSynth’s proprietary process development, scale-up capabilities and team expansion.

NuSynth Technologies was founded in 2026 by Poorvank Purohit, Abhishek Deo, Dipak Bajaj and Ramesha Ramakrishna.

In simple terms, NuSynth wants to improve how difficult chemicals are made, rather than only discovering new molecules. Its competitors include traditional chemical R&D companies and AI-based chemistry platforms.

OXG Space enters the growing spacetech funding race

Bengaluru-based Spacetech startup OXG Space has raised Rs. 17 crore, or approximately $2 million, in a round led by Aum Ventures through its India Innovation Fund II.

The funding is expected to support technology development, engineering work and the next stage of product validation. For spacetech companies, capital is often needed for hardware design, testing, certification and partnerships before commercial revenue becomes meaningful.

OXG Space will compete in a sector that includes Indian companies working on satellites, launch systems, Earth observation, space communications and orbital infrastructure. Its progress will depend on technical demonstrations and its ability to secure paying customers.

RevRag AI builds digital relationship managers for finance

Bengaluru-based RevRag AI has raised $2.5 million in seed funding. Accion Ventures and Cedar Hill Capital led the round, with participation from Wyser and Venture Catalysts.

The startup develops AI agents for banks, lenders, insurers and fintech companies. These agents can work inside mobile and web applications to guide users through onboarding, KYC verification, document submission, product selection and customer support.

RevRag AI was founded in 2023 by Ashutosh Singh, Neeraj Gupta and Pankaj Gupta. The company has reportedly worked with more than 45 financial institutions.

The new funding will be used to improve the product, expand enterprise deployments and support entry into the US market. RevRag also plans to develop more of its own AI models instead of relying mainly on third-party systems.

Its competitors include banking chatbot providers, customer-service automation companies and in-house AI teams at large financial institutions.

Circle receives seed capital from Nexus Venture Partners

Circle has raised Rs. 25 crore in seed funding led by Nexus Venture Partners. However, publicly available information about the company’s founders, founding year, product category and detailed use of funds is currently limited.

The capital is expected to help the startup develop its product, build its team and increase market reach. In the seed stage, funding is generally used to turn an early product into a more reliable service, test customer demand and prepare for a larger institutional round.

The company’s long-term progress will depend on its ability to clearly define its market, attract users and show repeatable revenue growth. More details about Circle’s business and funding structure will be important for understanding its position among competitors.

Disclaimer

Funding amounts and use-of-funds details are based on available reports on the web including social media and press release. This article is for information only and is not investment advice.

India’s startup funding scene is seeing interest in businesses that combine technology with real-world industries. Two recent stories highlight this shift. Materials-science startup Whizzo is reportedly in talks to raise $25 million from Bertelsmann India Investments, while biotech company Peptris Technologies has secured Rs. 86 crore from the Technology Development Board for AI-based drug development.

The two companies work in very different sectors, but both are trying to solve difficult problems through science, technology and specialized research.

Whizzo aims to modernize technical textile manufacturing

Whizzo was founded in 2024 by Shrestha Kukreja, a former Zetwerk executive.

The Bengaluru-based company develops technical textiles used in areas such as agriculture, infrastructure, packaging, protective clothing and industrial applications.

Unlike regular fabrics used mainly for comfort or fashion, technical textiles are designed for a specific purpose. They may need to resist heat, water, chemicals, fire or heavy pressure. For example, a geotextile can be used in road construction, while a protective textile may be needed for industrial workers.

Whizzo follows a contract development and manufacturing model. In simple terms, it helps customers move from an early product idea to research, testing, prototypes and large-scale manufacturing through one connected system.

According to earlier reports, Whizzo had raised $15 million in a Series A round led by Fundamentum. The money was intended to support materials research, intellectual property development and the expansion of its manufacturing network across Asia. The company had also planned to increase exports and work with more small and medium-sized manufacturers.

The proposed $25 million fundraise from Bertelsmann India Investments could help Whizzo expand its research facilities, build more proprietary textile products and increase production capacity. However, the round is still in discussion, so the final amount, valuation and use of funds may change as per Moneycontrol.

Peptris is taking AI drug discovery towards clinical development

Peptris Technologies was founded in 2019 by Venkatasubramanian Narayanan, Shridhar Narayanan, Anand Budni and Amit Mahajan.

The company uses artificial intelligence and machine learning to identify and improve potential drug molecules.

Its platform can study large chemical datasets, suggest new molecules and predict important properties such as safety, activity and suitability for further testing. This can reduce the number of compounds that need to be tested manually in laboratories.

The Rs. 86 crore support, approximately $8.98 million, has been approved under the government’s Research Development and Innovation Fund. It will support Peptris’s three-year VIGOR programme, which has a total project cost of Rs. 172 crore.

The programme will work on four AI-discovered drug candidates linked to conditions including neuromuscular disorders, cancer, alopecia, neuropathy and Duchenne muscular dystrophy. The plan is to move these candidates from an early validated stage towards advanced preclinical research and preparation for clinical trials as reported in PIB.

This is not a traditional equity investment. The support is structured as optionally convertible debt, which means the funding is provided as debt but may be converted into company shares under agreed conditions.

Disclaimer

The Whizzo fundraise is reportedly under discussion and should not be treated as a completed funding round until officially confirmed. Funding structures, amounts and deployment plans may change. This article is for information only and is not investment advice.

IIM Kozhikode and Walmart Global Tech have joined hands to launch DEEP LEAP, a new incubation programme for deeptech startups in India. The initiative will be operated through IIM Kozhikode’s business incubator, IIMK LIVE.

The programme is designed for startups that are developing advanced technology and already have a prototype or minimum viable product. Its broader goal is to help these companies move from technical development to commercial use.

Deeptech businesses often require more time, research and testing than regular software startups. A company building a satellite sensor, industrial robot or medical device may need help with product validation, manufacturing, regulations and customer access. DEEP LEAP aims to provide support in these areas.

What is DEEP LEAP

DEEP LEAP is IIMK LIVE’s deeptech incubation programme, powered by Walmart. It brings together academic knowledge, business guidance and industry connections to help technology startups become scalable businesses.

The programme focuses on areas such as artificial intelligence, machine learning, quantum computing, robotics, autonomous systems, space technology, aerospace, semiconductors and photonics. These sectors can create important products, but founders often face high development costs and long sales cycles.

According to IIMK LIVE, the programme offers mentorship, structured training, industry collaboration, investor access, funding opportunities and support for business growth. Selected startups can receive funding of up to Rs. 30 lakh, subject to the programme’s terms and evaluation process as per IIMK LIVE site.

Role of IIM Kozhikode and Walmart Global Tech

IIM Kozhikode brings academic expertise, business knowledge and an established incubation environment through IIMK LIVE. It can help founders understand pricing, operations, customer discovery, financial planning and business strategy.

Walmart Global Tech adds an industry perspective. The company develops technology for Walmart’s retail, supply-chain and customer platforms, giving it experience in handling large-scale technology systems.

The partnership may help startups understand how their products can work in real business environments. For example, an AI company may receive guidance on improving its product for enterprise use. A robotics startup may get help in explaining its value to industrial customers. A supply-chain technology company may benefit from feedback on reliability, integration and scalability.

This is Walmart Global Tech’s first formal institutional partnership in India focused specifically on deeptech incubation, according to reports on the launch. The programme is supported by a total commitment of Rs. 2.89 crore, including Rs. 1.5 crore earmarked for equity or seed support for selected startups.

Who can benefit from the programme

DEEP LEAP is aimed at early-stage founders who have moved beyond only having an idea. A working prototype or minimum viable product can help the programme assess whether the technology has a practical use.

A startup developing an autonomous inspection robot, for example, may use the programme to test its product with industry partners, improve the design and prepare for investor discussions. A semiconductor or photonics startup may use mentorship to develop a clearer commercial plan while continuing its technical research.

The programme also plans to help startups become investor-ready. This can include improving their pitch, understanding business metrics, preparing for due diligence and presenting their progress during a Demo Day.

Why this initiative matters

India has a growing pool of engineers, researchers and technology founders. However, deeptech startups can struggle to find early support because their products often need more capital and development time than consumer apps or standard software services.

DEEP LEAP tries to address this gap by combining funding with practical guidance and industry access. The partnership also reflects a wider shift in India’s startup ecosystem towards AI, space technology, robotics, semiconductors and other high-value technology areas.

Conclusion with key takeaways

DEEP LEAP is intended to help Indian deeptech startups turn promising technology into useful, scalable products.

IIM Kozhikode will contribute incubation and business expertise, while Walmart Global Tech will bring industry knowledge and technology experience. Selected founders can receive mentorship, training, funding opportunities, investor access and support for market development.

The programme’s success will depend on how effectively it helps startups complete pilots, attract customers and raise follow-on capital. For deeptech founders, however, it offers an important combination of academic support and corporate guidance at an early stage.

Reference- Walmart Global Tech startup collaboration programme

SiMa.ai, an artificial intelligence and semiconductor startup, has raised $150 million in Series C funding at a valuation of $1.45 billion. The round has pushed the company into unicorn status, a term used for privately held startups valued at more than $1 billion.

The company plans to use this capital to expand its physical AI platform, develop new AI chips and support applications in robotics, drones, automobiles and other machines. The round was co-led by Fidelity Management & Research Company and Amplify. Several existing and new investors also participated as per SiMa.ai official announcement.

What SiMa.ai does

SiMa.ai builds hardware and software that allow machines to run AI directly on the device. This is commonly called edge AI.

Most people experience AI through cloud-based services, where data is sent to remote servers for processing. SiMa.ai focuses on situations where decisions need to happen locally and quickly. For example, a drone may need to identify an object in real time, or a robot may need to respond immediately to something in its path.

Local processing can reduce delay, limit the need for constant internet connectivity and help companies manage data more efficiently. It is especially useful in industrial locations, vehicles and other systems where speed and power consumption matter.

SiMa.ai was founded in 2018 by Krishna Rangasayee, who is also the company’s chief executive.

Its main idea is to build technology specifically for physical AI instead of adapting hardware designed for general computing.

Purpose of the $150 million funding

The most important use of the new funding will be the expansion of Palette Neat. SiMa.ai describes it as an agentic software environment designed for physical AI. In simple terms, it is meant to help developers build, test and deploy AI applications for machines more easily.

The company also plans to develop its next generation of hardware. Its planned products are expected to include new machine-learning IP, chiplets and system-on-chip designs. SiMa.ai says its future platform could deliver up to 1,000 dense TOPS of computing power, a measurement used to describe AI processing capability.

The company has also indicated that the funding will support expansion in humanoid robots, advanced driver assistance systems, AI-powered vehicle cabins, drones and industrial automation. The new capital could help SiMa.ai move from individual deployments to larger commercial programmes.

How SiMa.ai is different

SiMa.ai is focusing on a complete hardware-and-software package. Customers do not only receive an AI chip. They also get tools intended to simplify model deployment and improve performance at the edge.

Power efficiency is another important part of its pitch. Robots, drones and vehicles often operate with limited battery capacity, so a chip that delivers useful AI performance while using less power can be valuable.

The startup still faces strong competition from established companies offering edge processors and AI platforms, including Nvidia and other specialist chipmakers. Its success will depend on whether customers find its software easy to use and whether its chips can perform reliably in real-world environments.

Why this funding matters

Physical AI is moving from research labs into machines that can see, decide and act. That creates demand for specialized computing hardware. SiMa.ai’s funding gives it more time and resources to improve its products, expand its customer base and compete in a market that includes robotics, automotive technology and autonomous drones.

Conclusion with key takeaways

SiMa.ai’s $150 million Series C round values the company at $1.45 billion and takes its total funding to $500 million. The startup’s main goal is to make AI work efficiently inside machines, rather than relying entirely on cloud servers.

The funding will support Palette Neat, next-generation AI silicon and expansion across robotics, drones, vehicles and industrial systems. Its biggest test now is turning strong technology claims into large-scale customer deployments.

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