Pepperfry is set to secure approximately $18 million in a fresh funding round

Pepperfry to secure $18 million funding

In an Indian e-commerce furniture space, a unique development, the omnichannel retailer of furniture in Mumbai, Pepperfry, is currently in the process of raising about ₹158.4 crore ($17.6 million) in an additional round of funding. This more recent capital raise is however at a much-adjusted value, which is referred to in the industry as a down round.

Morde Foods and SageOne Investments are now leading the round, which indicates the change in the investor profile of the company in its complex market consolidation and financial recalibration period.

Diverse investor participation and valuation impact

As per the regulatory filings obtained through the Registrar of Companies (RoC), the Pepperfry board had a resolution to issue more than 4 million equity shares at the issue price of ₹391 per share in January 2026. This price indicates the mood of the market and the internal re-adjustments that the company has experienced. Although Morde Foods and SageOne Investments are leading the round with contributions of ₹25 crore and ₹20 crore respectively, the financing has a relatively wide range of participants.

The round has received more than 50 various investors including institutional investors such as Newage Global Ventures and F3 advisors. High profile angel investors, including Indian cricketer Shreyas Iyer, among others, are also strengthening the cap table alongside people like Sidharth Iyer and Vikas Arora. It is reported that Pepperfry had already taken approximately ₹105 crore ($11.7 million) out of the entire allocated capital and the remaining was to be completed soon.

The most notable point in this finance is the implication on the post-allotment valuation of Pepperfry. It is estimated that the company will lose its valuation to the tune of 44% and its valuation will reduce to approximately ₹1,661 crore ($185 million). This is a drastic fall to the valuation of $330 million in its last bridge round of $5.1 million that took place in June 2025. This valuation reduction is indicative of an overall pattern in the category of so-called new-age Indian startups, which are emphasizing long-term sustainability and efficiency in their operations, rather than the stratospheric valuation attached to this sector in earlier years of uncontrollable growth.

On the financial front, the company has been directed at reducing its losses. Pepperfry experienced a reduction in operating revenue of 30% to ₹189 crore in the fiscal year ending March 2024 (FY24) but was able to reduce its losses by 37% to ₹117.5 crore. This $18 million round of capital will be strategically diverted to the business expansion, subsidiary operation, and general working capital requirements to ensure that the firm has the runway to stabilize the marketplace business model.

Operational focus

Since Pepperfry was launched in 2011, it has transformed into a strong omnichannel business in terms of growth, since it has been a pure-play online marketplace. The company has a database of more than 10,000 products, and it is operating on a system of over 200 Studio Pepperfry experience centres located in 100 cities. This new model of integrating an online shop with brick-and-mortar studios is at the core of its strategy to stay competitive with major-financed competitors such as Urban Ladder and Wooden Street.

The new capital will most probably be invested into further development of this omnichannel experience and its logistics infrastructure. The company is also planning to strengthen its own brands and expand its home decor line under the leadership of the CEO, Ashish Shah. Though this is a down round, this capital raise is a lifeline, which enables the brand to keep on with its mission of redefining the furniture-buying experience in India and head towards a more sustainable business model, eventually becoming profitable.

Conclusion

The move by Pepperfry to use an $18 million down round indicates the expediency that is in the need in the Indian startup ecosystem. The company is raising capital by acquiring financing through a combination of conventional food industry heavy-hitters, such as Morde Foods, investment groups, such as SageOne and celebrity investors, such as angels, which is ensuring that it has the capital to withstand current economic changes.

Although the decline in valuation is considerable, the main goal is obvious, and it is to strengthen fundamentals and guarantee long-term operating viability. Since the company will be implementing this new capital, the focus will most certainly remain on consolidating its market share and proving that its omnichannel marketplace can survive in a value-conscious retail environment.

Natco Pharma regulatory approval from the CDSCO for strategic Semaglutide launch in India

Natco Pharma CDSCO approval for Semaglutide

Natco Pharma Limited has received regulatory approval by Central Drugs Standard Control Organisation (CDSCO) to produce and market its generic form of Semaglutide Injection in India. The approval is a significant step by the Hyderabad-based company as it is preparing to move into one of the most demandable therapeutic areas of modern medicine.

Addressing the diabetes challenge and strategy

The approval specifically applies to Semaglutide as a prescription-only drug that is used to treat adults with inadequately controlled type 2 diabetes mellitus. The approved clinical setting is to utilize the drug as a dietary and exercise supplement to have patients control their glycemic levels better.

It works by resembling a natural hormone that stimulates the pancreas to secrete an adequate amount of insulin in instances where the quantity of glucose present in the blood is high. It is among the most important processes that aid in the body to make muscle and fat cells absorb the glucose and utilize it as energy, hence, stabilizing the blood sugar level.

Natco Pharma has provided a precise roadmap of the commercial availability of the drug. As per official releases and executive briefs, the company is set to introduce the product in the Indian market in March 2026. This is a strategic time since it coincides with the anticipated expiration of major patents of the innovator company and Natco can be among the first generic entrants.

The domestic market approach of the company is a multi-pronged one. Natco will release the drug with its brand name and at the same time, out-license the product to two other companies to ensure maximum penetration into the market. To help this ambitious deployment, the company has budgeted a special team of 350 to 400 medical sales agents to market the drug nationwide.

Launch of Semaglutide and approval

Domestic business is expected to be a major driver of the business of Natco by the introduction of Semaglutide, where the company intends to realize a growth of more than 20% in this segment. Natco is a competitive company beyond the boundaries of India. The company is the only First-To-File (FTF) exclusivity holder in the United States on major strengths of both Ozempic and Wegovy forms of the substance, another strong statement maker regarding complex generics.

This most recent approval is a complement to the large collection of specialty Pharmaceuticals that Natco Pharma has. The company has two research facilities and nine manufacturing sites in India, as an organization that focuses on research and development. The fact that it received the CDSCO approval of a high-value molecule such as Semaglutide highlights its technical competence and its determination to offer more accessible treatment options against chronic metabolic conditions.

Conclusion

The nod by the CDSCO to the Semaglutide injection of Natco Pharma is not merely a victory in the regulatory front, but a significant move towards the Indian democratization of high-tech diabetes care. Natco can secure an attractive portion of the fast-moving GLP-1 market by readying a March 2026 launch with a powerful distribution and licensing strategy.

With the company still enjoying its R&D advantages and global exclusivity privileges, the launch of this generic substitute should help alleviate the needs of patients to effectively control type 2 diabetes on a large scale and sustain the trend of Natco being a force in the pharmaceutical world on the international and national levels.

India strengthens entrepreneurial landscape with ₹10,000 crore for the Fund of Funds for Startups (FFS 2.0)

The Indian government has made a bold move to strengthen the growing startup ecosystem of the country by setting aside a huge ₹10,000 crore Fund of Funds for Startups (FFS 2.0). This huge capital commitment, which has been declared by the Department for Promotion of Industry and Internal Trade (DPIIT), is meant to act as an overdrive to high-potential enterprises.

The initiative will minimize the dependence on foreign funding and ensure the stable flow of domestic funding by moving vital funding sources to the domestic environment at a time when the world is witnessing a more discerning venture capital flow.

Strategic focus and capital infusion

The new tranche of financing denotes the strategic change in industrial priorities in India, and it is evident that India focuses on manufacturing and clean technologies. With the world market gradually focusing on sustainability and resilience in supply chains, the Indian government is ensuring that its startup industry becomes the first in these two most crucial areas. By investing in these high-impact sectors, the fund will be promoting a new generation of businesses that can help India become self-reliant and, at the same time, achieve global standards of innovation and environmental friendliness.

It is a critical time when this capital inflow comes to the rescue of the entrepreneurial community. Although there was an increase in global venture capital investment in 2025, much of the increase was in certain niches, such as Artificial Intelligence. Through the launch of FFS 2.0, the DPIIT is making sure that other key industries, especially those that deal with physical infrastructural development and renewable sources, get the financial support needed to grow. This step strengthens the symbiotic relationship between state policy and innovation driven by the industry, which offers a safety net to the founders operating in an attention-seeking investment landscape.

Allocation and operational model

This current ₹10,000 crore commitment is not an isolated initiative but a follow-up on the success experienced with the first Fund of Funds introduced in 2016 as part of the Startup India Action Plan. Such a base fund was quite efficient in raising capital; by the end of 2025, it had financed more than 1,370 startups. The initial scheme worked by directing the funds to the Alternative Investment Funds (AIFs) registered by SEBI, which then invested approximately ₹25,547.98 crores into the ecosystem. This multiplier effect was an indication that the government could transform public funds into a huge engine to promote growth in the private sector.

The FFS 2.0 operational model is the same as that of its predecessor, which is a fund of funds and gives professional investors the mandate to recognise and develop local talent. Through AIFs, the government is able to ensure that capital is invested according to commercial viability and technical merit. It serves not only to support the individual companies, but also to develop the venture capital industry in India on a larger scale into a cycle of investment and entrepreneurship that would be self-sustaining and reach other levels of cities.

Conclusion

The ₹10,000 crore FFS 2.0 announcement is an indicator of a long-term and active government interest in developing India into a global innovation centre. The government is giving Indian founders the necessary belief capital to engage in ambitious and long-term domestic manufacturing and sustainability projects by doubling down on domestic policy as the anchor of the necessary financing.

This new capital can be projected to flow through the ecosystem and create a strong future in the sector, and the following decade of Startup India is projected to be characterized by consistency, inclusivity, and a significant global scale.

Leverage Edu reported a revenue of ₹173 crore alongside a net loss of ₹106 crore in FY25

Leverage Edu FY25 revenue ₹173 crore

The edtech sector in India is still in the phase of major recalibration, with companies trying to strike a balance between aggressive growth and prolonged profitability. In a recent financial announcement, Leverage Edu, the most popular international student mobility platform, announced its consolidated financial performance in the fiscal year ending in March 2025 (FY25).

In this period, the company registered a revenue of ₹173 crore. This expansion was accompanied by a net loss of ₹106 crore, representing the capital intensity and high costs of operation to expand into a global full-stack service platform.

Revenue growth and geographical expansion

The FY25 revenue amount is a significant growth of the operating scale of the company in comparison with the past cycles. Leverage Edu has been able to diversify its revenue base through the provision of a broad range of services that transcend just normal counseling. 

These are Fly Finance, which offers education loans, and Fly Homes, which offers a solution to international accommodation for students. The incorporation of such allied services into the core business concept has helped the firm to grow its average revenue per user (ARPU) and enhanced its interaction with the students going through a complicated process of studying in a foreign country.

The geographical expansion has also been critical in the growth of revenues. Leverage Edu has also been aggressive in other markets other than India, like Nigeria and Nepal, and has recently indicated that it is looking to tap into markets in Southeast Asia, like Thailand. This global drive will be with the aim of fulfilling the increased needs of global education in the emerging economies, and this brand will be used as a transnational participant and not a nation-specific business.

Funding and decoding the operational costs

The ₹106 crore loss in FY25 illustrates the level of competition and high customer acquisition costs (CAC) being experienced in the edtech and study-abroad sector. To maintain the growth trend, the company has heavily invested in technological infrastructure and marketing.

Human capital is one of the key costs for a service-based platform. The firm has expanded its number of counselors and IT specialists to cope with the rising number of applications. It has invested high amounts of capital into the development of the AI-powered recommendation engines that pair students with the appropriate universities and courses.

The international education industry demands significant spending on online marketing and on the offline experience hubs as a way of establishing trust with students and parents. Although the loss is considerable, the company has noted that its EBITDA margins are high relative to FY24. This indicates that the absolute loss is high, but as a business, it is becoming more efficient on a unit level.

Leverage Edu has a robust team of investors such as Blume Ventures, DSG Consumer Partners, and the Educational Testing Service (ETS). The company has so far raised nearly $70 million in funds, and it has recently been valued at around $140-$150 million. This level of capital has enabled the company to remain aggressive in the market, unlike the present funding winter that is facing most of its competitors.

The recent Series C round, which was conducted by ETS, was especially strategic; this brought the platform in line with one of the largest private educational testing and assessment organizations in the world. This collaboration is likely to give Leverage Edu greater institutional connections and admission to a broader range of students who take standardized tests such as the TOEFL and GRE.

Conclusion

Leverage Edu FY25 results suggest that the company is in a high development stage of investment. Although the loss of ₹106 crores on ₹173 crore revenue indicates the burning process is still going on, the emphasis on creating a multi-service ecosystem, including finance and housing, is a sign of an environmentally sustainable long-term business model.

With the brand continuing to increase its presence across the globe and rolling out more experience stores, the task will be to move out of top-line growth and shift to bottom-line stability. In the meantime, Leverage Edu is in control of the Indian study-abroad market, with its full-stack strategy ultimately paying off in terms of scale to become profitable.

CRISIL reported steady growth as Q4 net profit rises 7.5% year-on-year

CRISIL reported steady growth in Q4

Analytical company CRISIL has announced a strong financial performance for the fourth quarter ended on December 31, 2025. The consolidated Profit After Tax (PAT) as per the latest regulatory filing by the company has risen to 7.5% as compared to ₹224.7 crore in the same quarter last year, with a total of ₹241.5 crore in the current case.

Significant expansion

The company has experienced a substantial growth in its top-line performance in the quarter. Operating consolidated income increased by 18.5% to attain ₹1,081.6 crore, compared to ₹912.9 crore in Q4 2024. Consolidated total income of CRISIL increased by 17.5% to ₹1,108.7 crore, factoring in other income sources, which demonstrates that CRISIL has good momentum in its various business segments. The consolidated revenue of this company due to the operations in the full financial year (FY25) increased by 11.9%, reaching ₹3,649 crore, and the annual net profit of the company increased by 12% and amounted to ₹766 crore.

Segmental performance and stability

The expansions were supported by strong performances of the company in its main segments. The Ratings Services segment recorded an increase of 8.6% to ₹290.9 crore of revenue in the quarter, as compared to ₹254.4 crore in the same period last year. The Research, Analytics and Solutions segment presented a significant revenue increase, with ₹791.2 crore having been achieved in Q4 2025 as compared to ₹659.1 crore in the same quarter last year.

Another characteristic was an expansion abroad in a strategic manner. CRISIL has been able to acquire McKinsey PriceMetrix at a consideration of $32.9 million (approximately ₹294 crores). This will be a move that will be completed in November 2025 and will serve to strengthen data analytics and benchmarking by the company on a global scale.

Due to the good financial performance, the Board of Directors has declared a final dividend of ₹28 per share in equity for the financial year ending on December 31, 2025. This adds up to the cumulative dividend per share of the year to ₹61, which is a strong effort to give back to the shareholders.

The company also provided stability in the executive officiating by sanctioning the second three-year tenure re-appointment of Amish Mehta as managing director and CEO, which takes effect in October 2026. Amar Raj Bindra was once again appointed to serve as an Independent Director with a five-year term.

Conclusion

The results of CRISIL in Q4 and the entire year 2025 highlight the stability of its operations and its capability to sustain growth in a complicated global ecosystem. The company has been able to solidify its position in the market by integrating organic revenue expansion in ratings and analytics with strategic acquisitions such as PriceMetrix.

The double-digit increase in annual profit and a high dividend rate payout are indicators that the company has a solid balance sheet and a bright future ahead in the next few fiscal years as it keeps investing in technology and talent.

Subway India operator EverBrands secured $15 million in a fresh funding round led by Playbook Partners

Subway India Operator EverBrands $15M Funding Round

In an initiative to control the Indian quick-service restaurant (QSR) and cafeteria horizons, the operator of Subway and Lavazza, as well as other reputable brands in India, EverBrands, has raised $15 million in a fresh funding round. The initiative was led by Playbook Partners, a growth-stage venture capital firm. It is an important milestone in the process of establishing a strong, multi-brand food and beverage platform by EverBrands.

Newly secured capital and primary objective

The freshly acquired capital will be used in the aggressive growth of the portfolio of EverBrands in India. The company is an entity of the Everstone Group that is engaged in a wide variety of better-for-you food and beverage domains. It has a subsidiary called Culinary Brands, which deals with the Subway master franchise in India, Sri Lanka, and Bangladesh. It manages Lavazza Coffee, Fresh and Honest (F&H) Coffee, and the distribution of Dilmah Tea by Fresh and Honest Café Private Limited.

The primary objective of this investment of $15 million dollars is to maintain the technology infrastructure and the size of operations in the company. Through the experience of Playbook Partners in tech-enabled growth, EverBrands will be able to sharpen its service delivery and target a wider group of demographics in the city that are becoming more interested in fresh, customizable, and high-quality dining choices.

Growth momentum and partnership

The investment is timely when Subway India is enjoying unprecedented growth. The brand has also recently achieved a significant milestone by becoming the first brand to open its 1,000 th store in Gurugram, cementing its status as one of the fastest-growing up-market QSR brands in the nation. With the brand already increasing by an average of two new stores per week in the past three years, the growth has been unabated since the acquisition of the master franchise in 2021 by the Everstone Group.

Subway has grown to over 165 cities under the leadership of EverBrands and employs in excess of 3,500 employees. It has shifted its strategy more toward penetration into Tier II and Tier III markets, leaving the traditional mall-based sites to high-street, neighborhood, and transit-oriented formats such as airports and office parks. This decentralization will enable the brand to be part of the everyday Indian diet and will include, as part of its menu, more health-conscious choices that are directed at growing health awareness in the country.

Playbook Partners, under the leadership of the former Reliance Jio executive Vikas Choudhury, is the third significant investment in EverBrands that the firm has undertaken in India since the fund first closed in 2017. The VC company specializes in mid-market enterprises that are willing to grow through digital and technological advantage. The collaboration is likely to speed up the digitalization of EverBrands, especially in the optimization of its “Point and Order” systems and the improvement of its delivery network, which now contributes a major part of QSR transactions in India.

Everstone Group, which manages approximately $8 billion of funds, is still relying on EverBrands to integrate its F&B portfolio. The long-term vision is to expand the Subway presence by almost twice to a total of 2,000 outlets within the next five to six years. This financial injection is the so-called belief capital needed to keep this course and yet provide unit economics stay afloat in its diverse forms of cafes and restaurants.

Conclusion

The Playbook Partners-led $15 million funding round will be a key milestone in that EverBrands will grow beyond its rapid expansion approach of stores in the region and enter into a period of technology-focused operational efficiency. With the legacy of the world brands such as Subway and Lavazza, combined with the knowledge of local execution and new capital, EverBrands is poised to spearhead the next wave of the QSR revolution in India.

This investment underlines the strategic value of the Indian food services market as a high-growth area to both international and domestic investors since the company is considering a possible public listing in the future.

Six Sense Mobility secured $4.8 million in its pre-Seed A funding round led by Ashish Kacholia

Six Sense Mobility $4.8M Pre-Seed A Funding

Six Sense Mobility, operating in the Indian automotive deep-tech industry, has recently raised $4.8 million (approximately ₹44 crore) in a recent funding round. The pre-Series A funding was led by the famous ace investor Ashish Kacholia. He is well known in the Indian markets as the Big Whale of small-cap stocks. The investment is a strong vote of confidence in the mission of the startup to modernize vehicle safety and intelligence using indigenous technology.

Capital infusion and investor backing

The institutional and angel investors participated in the funding round. Although Ashish Kachalia moderated the round, there was still ongoing support to the startup provided by its old partner, Piper Serica Angel Fund. This inflow of funds will take the company to the next stage of further expansion, i.e., the growth of its production facilities and the increase of its research and development (R&D) department.

Six Sense Mobility is an incubated IIT Delhi-based startup, established in 2022, and has already found its niche in the automotive equipment domain. The firm focuses on creating superior electronic systems and connected vehicle solutions. With such a high-profile lead investor, not only financial resources, but also strategic credibility, Kacholia can make its decisions based on its track record of identifying high-potential, technology-driven companies.

Impact and primary objective

The new capital raised is aimed at the main purpose of expanding native automotive electronics production. Six Sense Mobility, as the global automotive industry moves toward even more complex software-defined vehicles, is establishing itself as an indispensable provider of the hardware and software stack needed to create contemporary mobility.

The large share of the $4.8 million will be used to expand production plants to accommodate the increasing number of Original Equipment Manufacturers (OEMs). The startup is actively engaged in strengthening its relationships with car manufacturers, and its safety and diagnostic devices are already part of new cars. The new capital will also be used to ensure the creation of next-generation intelligent systems, such as sophisticated driver assistance sensors and telematics gadgets that will improve road safety and fleet management.

Six Sense Mobility is also an indication of a wider pattern in the Indian startup ecosystem where deep-tech and hardware-based companies start to get substantial venture capital. The incubation in such a high-ranking institution as IIT Delhi gave the start-up the initial technical base and mentorship to come up with sophisticated solutions in mobility.

The entry of Ashish Kachalia to the cap table is projected to introduce a disciplined attitude towards the scaling strategy of the company. Kacholia is known to be patient with his capital, often an indicator of his belief in the ability of a company to shake up its industry. In the case of Six Sense Mobility, it means the freedom to specialize in the creation of high-quality electronic parts powerful enough to compete with any global standard but tailored to meet the specific needs of the Indian automotive market.

Conclusion

This is a turning point in Six Sense Mobility because of the successful fundraising of a total of $4.8 million, led by Ashish Kacholia. The innovation the startup aims to achieve is the ability to bridge the gap between university innovation and commercial scale, which puts the startup in a unique position to lead the efforts toward Indian self-reliance in automotive technology.

With the company increasing its production and establishing new OEM relationships, the company will be crucial in ensuring the Indian roads are safer and its vehicles smarter. This round of fundraising is not merely a financial achievement but a strategic move towards creating a robust home-grown ecosystem of sophisticated mobility equipment.

Uber India’s ride-hailing witnesses losses soaring 4x to ₹1,407 crore in FY25 with flat gross revenue

Uber India FY25 losses ₹1,407 crore

The Indian core mobility business of Uber has been difficult time in the fiscal year ending in March 2025. Based on the consolidated financial statements of the company, the ride-hailing segment of Uber India experienced a dramatic 4-fold growth in losses amounting to ₹1,407 crore. This economic recession came at a time when the company was comparatively steady with regard to gross revenue, leading to an increase in the disparity between what is happening in the market and the corresponding net income.

This sudden increase in losses is indicative of an aggressive approach to spending that is intended to keep the market share up as competition mounts and industry dynamics evolve.

Stagnant gross and operating revenue

The most shocking revelation of the FY25 financial report is the disproportion of gross and net revenue. The gross revenue of Uber India, the amount of commissions obtained during rides without taking into consideration incentives, did not change significantly, as the figure was ₹2,604 crore. The ride-hailing revenues plummeted by an astonishing margin of 89% to only ₹88 crore in FY25, which is against ₹807 crore in the last fiscal year.

This loss of net revenue can be directly explained by the accounting policy used by Uber, according to which the incentives to drivers and discounts provided to riders are offset on the top line. Uber has grown its expenditure on these incentives by 33% in FY25 to reach ₹2,516 crore. The company has successfully reduced its mobility top line to a fraction of its gross commission value by heavily subsidizing rides to entice drivers and commuters. This would be a defensive measure to counter competitors such as Rapido, which has recently changed to a zero-commission, flat-fee subscription model.

Uber India consolidated operating revenue recorded a slight increment of 2.3% with an overall revenue of ₹3,849 crore in FY25, even though it has been impacted by a massive blow to its ride-hailing revenue. This stability was mainly because of the support services segment of the company, and not its taxi business, which was facing the consumer market. The revenue growth was ₹3,664 crores in a year, compared to ₹2,936 crores last year (FY24) in the provision of engineering, back-office, and business support to its parent company (Uber BV) and other companies in the group.

This cost-plus pricing of the company’s internal services is a financial safety net for Uber in India. Although the local mobility business is still a major depreciation on the balance sheet, the revenue earned on international support services means that the entire organization will still record high total revenue. The company also earned ₹79 crore under the sources of non- operation, such as interests on current investments that added to its overall earnings of the year.

Competitive pressure and consolidated net loss

Uber India also had a consolidated net loss of ₹1,512 crore in FY25. This is a considerable contrast to FY24, when the company had been able to reduce its losses significantly to an amount of ₹89 crore. The reversion to the deep losses highlights the expensive nature of the business in the Indian mobility market, as customer loyalty is usually based on price and the availability of the vehicle. The rise in the number of promotional spending would imply that the price war in the Indian ride-hailing industry has entered a new, more costly phase.

The financial trend in Uber FY25 compares to that of some competitors. The difference in the revenue models notwithstanding, Rapido was able to minimise its net losses by more than 30% in the same period. The threat of competitors matching lower prices and increased driver payments has made Uber compromise its short-term profitability goal in favor of maintaining its user base and network of drivers.

Conclusion

The performance of Uber India in FY25 indicates the strategic shift to the mode of aggressive market defense at the cost of the bottom line. Though the revenue generated by the company’s support services offers a secure source of income through the global parent of the company, the main ride-hailing operation is already struggling with an enormous increase in losses.

The move to invest ₹2,516 crore in incentives shows the sheer pressure to keep up with the competitive world, which is still very sensitive to price. The main challenge that the company will face as it proceeds is to balance between the need to retain market leadership in the country and to develop a sustainable, profitable model of mobility operations in India.

IDfy secured $53 million in a Series F funding round led by Neo Secondaries Fund

IDfy secured $53 million in Series F funding

IDfy, a regtech and identity verification firm based in India, has raised ₹476 crore (approximately $53 million) in a Series F round, significantly boosting the regtech and identity verification ecosystem in India. Neo Asset Management, via its Neo Secondaries Fund, led the investment, which was among the largest capital contributions into a homegrown platform of trust and identity.

Funding round and investor participation

The capital raise is designed as both primary and secondary funding. The most important part of the round, with a valuation of approximately ₹220 crore ($25 million), is the direct infusion of fresh capital into the company. The other secondary component helps to exit some of the early-stage investors of the company and employees, which is much-needed liquidity in the private market.

Though the largest commitment of ₹189 crore was made by Neo Secondaries Fund, the investment was well-suited to several major existing investors, including Blume Ventures, Analog Capital, Elev8 Venture Partners, IndiaMART, and Kae Capital. Under this infusion, the post-money valuation of IDfy is approximated to be around ₹2,420 crore ($272 million), which is a consistent growth in its market value as the company advances towards its long-term target of an Initial Public Offering (IPO).

Strategic growth and financial performance

The new capital is to be allocated to three main strategic pillars. First, the proceeds will be used by IDfy to make strategic acquisitions, which can bring proprietary data capabilities into the company and enable it to build a stronger risk underwriting stack. Second, the company considers an aggressive international expansion, with a view to expanding its presence in Southeast Asia and the Middle East and exploring as well the new global markets. At present, international business operations make approximately 18% of the total income of the company.

Thirdly, the funding will drive the further development of its TrustStack platform. With more than 500 enterprise clients (notably 70% of the large banks and NBFCs in India) and more than 500 million checks being verified every year, Idfy has more than 500 clients. With the growth of digital transactions and the introduction of regulations such as the Digital Personal Data Protection (DPDP) Act in India, there has never been a greater demand to regulate the concept of privacy and help detect fraudulent activities in the country.

The raise is based on the excellent financial performance of Idfy during the 2025 fiscal year. The company registered a growth of 28.3% in operating revenue to ₹186 crore against ₹145 crore in FY24. The company achieved a decisive moment when it became profitable, and the net profit amounted to ₹1.6 crore, after years of losses in the years prior.

Conclusion

The Series F round, which was led by Neo Secondaries Fund with a valuation of $53 million, makes IDfy one of the leading representatives of the world regtech. The company has also exhibited a mature capital management strategy by its ability to balance between primary growth capital and secondary liquidity of early stakeholders. With its expansion of operations into seven countries and the incorporation of modern privacy-enhancing technologies, IDfy is moving in the direction of becoming the digital infrastructure of trust that its founders only fantasized about in 2011.

Central Government released ₹387 crore for Telangana Gram Panchayats

Telangana Gram Panchayat ₹387 crore fund

The Central Government had released ₹387 crore specifically to Gram Panchayats in the state. This massive disbursement is a sequel to the first instalment of finances meant to support grassroots administration and other local developmental projects. After the first instalment of over ₹259 crore, the cumulative figure that has been given to the state in this current phase has already hit the target of ₹646.36 crore, and this has been a significant relief to the village administrations by giving them a lot of liquidity.

Bridging the financial gap

The disbursement of these funds is at a critical point in the rural governance in Telangana. The numerous Gram Panchayats had been struggling with financial limitations, which had halted any village-based programs for some considerable time. State officials have argued that the recently released ₹387 crore will be effectively deployed to solve several fundamental rural life aspects.

The most notable among them are the development of the local infrastructure, the growth of sanitation systems and the preservation of reliable drinking water services. The grant is estimated to channel part of it towards enhancing and maintaining rural roads, which are also important in linking the people in remote agricultural regions to the larger market centres.

Strategic coordination and the vision

The payment is made after a hard administrative liaison exists between the state and central governments. The funds were already delayed because of several procedural obligations and the time of the local body elections. The State authorities, namely, the Panchayat Raj and Rural Development Department, tried to ensure that all the documents and data that were requested by the Centre were provided in due time.

This adherence to the guidelines of the Fifteenth Finance Commission was a key factor in opening up the grants pending. The government has been able to carry out the Gram Panchayat elections successfully and take a new administrative term, which has led to the start of clearing these long-pending developmental tranches stage by stage by the Centre.

Panchayat Raj Minister Dhanasri Anasuya Seethakka has been a strong opponent of these central funds being released early. Although he expressed enthusiasm to embrace the current instalment, the Minister pointed out that some ₹3,000 crore is due to Telangana as suggested by the recommendations of the Fifteenth Finance Commission. Still ₹2,400 crore pending, she has requested a faster disbursement of the outstanding amount to live up to the hopes that the rural development will not stall.

The Minister pointed out that the economic empowerment of village Panchayats is the key to the successful delivery of services to the people. The state is hopeful that the ongoing coordination will result in full payment of all the dues allocated, thus changing the socio-economic situation of the rural Telangana.

Conclusion

The disbursement of ₹387 crore is a major step towards the financial stability of Telangana rural local bodies. This central assistance directly influences the quality of life of millions of inhabitants living in the hinterlands of the state by paying attention to such crucial services as water, sanitation, and infrastructure.

The newly elected sarpanches will assume command of their respective villages means that these funds will be available to undertake a fresh agenda of local interest and long-overdue projects. This financial infusion does not just help in catching up on the arrears of the past but also provides a solid platform for future development and self-sufficiency of the village communities in Telangana.

Digitory secured $500K in its pre-Series A funding round led by Tejas Paresh Lodaya

Digitory secured $500K in pre-Series A funding

The restaurant technology market in India is still experiencing a strong deal of technical advancement with homegrown startup Digitory, which has been working on automating hospitality processes. Digitory successfully raised $500K in its pre-Seed A funding round. The funding was led by an angel investor, Tejas Paresh Lodaya, whose presence indicates high confidence in the mission of Digitory to create a powerful operating system of restaurant profitability and scale.

Plan to utilize the fund

As per a press statement by the business, the new funds that have been acquired will be utilized in strategic positions in various major divisions that aim to speed up expansion. Digorry will use the capital to optimize its market presence and increase the rate of enterprise integration to enable more brands to adopt its complete set of tools.

Research and Development (R&D) also occupies a huge percentage of the investment. The company will also pay more attention to automation and operational intelligence so that its platform will be on the leading edge of industry demands. The funding will enable the scaling of the platform infrastructure to offer the required stability to its growing network of high-volume partners.

Core operational infrastructure and effectiveness

Digitory was founded in 2016 by Shivaprakash S. Mogali. Digitory has earned its reputation as a company that offers profound knowledge of operations to known hospitality brands. The platform is a fundamental infrastructure platform that is a combination of local capabilities and central cloud-powered intelligence to guarantee its smooth business continuity across locations. Its full-stack system provides a complete set of capabilities, such as real-time information to optimize stock and sales, solutions to ensure consistency and reduce food expenses, simplify work between the front-of-house and the back-of-house, and improve the speed and efficiency of guest service.

Digitory is employing AI and ML-oriented automation to overcome the hurdles of the complexities of multi-location operations in cafes, breweries, and cloud kitchens. The company says that it was already assisting more than 1.8 million end customers via its network before this latest round of funding.

The success of the platform can be emphasized by the fact that its client list is impressive and consists of some of the most prominent names in the industry. Top restaurant chains, which include Toit, Bier Library, Biergarten, Pumphouse, BlrBrewing, 1522, BygBrewski, Zero40, and Effingut Breweries, have already adopted the technology provided by Digitory to run their daily complicated businesses.

Angel investor Tejas Paresh Lodaya pointed to Digitory solving a severe pain point in the hospitality industry through scale operations. He observed that it is hard to come across a product that has managed to manage high-volume, complex situations and stay bootstrapped, making it a company that justified the investment due to quality and a tested approach. Shivaprakash S. Mogali, the founder and CEO, was thrilled by the round, saying that the investment will help attain organized growth and expanded market targeting.

Conclusion

With the food and beverage sector rapidly turning into a digital transformation, the effective financing round by Digitory makes it one of the key actors in the so-called New Space of restaurant tech. The startup is not merely delivering a software tool by concentrating on profitability and operational smoothness, but developing the foundation of architecture that modern hospitality brands need to effectively scale.

The new capital of $500K and the help of strategic investors will make Digitory fully prepared to overcome the distance between traditional service and technology-driven intelligence that will guarantee long-term sustainability of restaurant brands in a constantly changing market.

USV acquired 79% equity stake in Wellbeing Nutrition at a ₹1,583 crore valuation

USV acquired 79% stake in Wellbeing Nutrition

There is a major transformation in the Indian pharmaceutical scene as old prescription-focused firms are shifting to the new direct-to-consumer (D2C) wellness opportunity. Nutritionalab Private Limited has sold a majority share of its 79% stake to USV, a pharmaceutical giant, in a landmark deal that involves the parent company of the clean-label nutraceutical manufacturer Wellbeing Nutrition. This cash deal is estimated to be worth ₹1,583 crore, the highest deal up to date in the Indian health and wellness startup ecosystem.

Acquisition and exit of a major investor

The purchase represents the USV strategic expansion of its established leadership in such therapeutic domains as oral anti-diabetics and cardiovascular care. The USV, which has a history of leading brands in the market such as Glycomet GP and Ecosprin, is making use of this buyout to create a one-stop healthcare giant that cuts across the entire spectrum of prescription medicine to preventive lifestyle wellness.

The transaction is built as an important secondary transaction with additional founder participation. The 35% stake of the founder, Avnish Chhabria, and the other 44% of early-stage institutional investors are being sold to USV. This sale will enable the total exit of Hindustan Unilever (HUL) and Fireside Ventures, who together had a share of approximately 40% of the company.

HUL, which had earlier invested approximately ₹70 crore in Wellbeing Nutrition in 2022, has sold the whole 19.8% to USV at ₹307 crore. This departure has paid off tremendously for the FMCG giant in terms of a four times higher payoff on the initial investment. Although the ownership will change, the founder Avnish Chhabria will receive a significant stake and will remain in charge, which will ensure the brand retains its main goal and innovative spirit and has access to the global scope of USV and pharmaceutical experience.

Strategic rationale and financial performance

Wellbeing Nutrition has shown a high growth trend since its establishment in 2019. In the current FY25, the company generated a turnover of approximately ₹170 crore, which was an enormous 120% growth in two years. Although the company is still going through its loss-making periods, with the net loss standing at approximately ₹30 crore in FY25, the high valuation indicates that investors are convinced of its ability to scale and capture the market.

The brand has been successful due to its various and innovative product range comprising plant-based vitamins, minerals, collagen, and its trademarked Melts oral thin strips. The company uses a successful omnichannel model, involving the online and quick-commerce partners that make approximately 70% of the sales, and the stores are also present in more than 3,700 retail locations. In the future, Wellbeing Nutrition will achieve even larger sizes, and internal goals will focus on reaching ₹450 crore in yearly revenues as of FY27.

In the case of USV, this is a strategic acquisition to update its consumer healthcare portfolio. Although the company already has a presence within the vitamin and calcium segment under the prescription segment, such as D-Rise and Triplecal, these are mainly doctor-prescribed products. The acquisition of Integrating Wellbeing Nutrition offers USV an instant and advanced foothold in the D2C market, which has a valuation of more than ₹21,000 crore.

With the ability of USV to offer its clinical rigor and depth of distribution, and Wellbeing Nutrition to build a brand and act as a digital-first force, the entity stands in a strong position to dominate the preventive healthcare industry. This acquisition is part of a larger industry trend in which traditional pharma companies are buying agile D2C brands to remain relevant to a younger and more health-conscious generation that values transparent and sustainable nutrition.

Conclusion

The sale of 79% of Wellbeing Nutrition to USV at ₹1,583 crore in valuation is an indicator of the maturity of the health-tech and D2C industries in India. It points out an effective lifecycle of a startup- starting with initial support by strategic investors such as HUL and an enormous exit powered by a pharmaceutical giant.

With Wellbeing Nutrition in the next stage of its development within the framework of USV, priorities may be shifted on the way to attaining EBITDA profitability with global expansion within the US, UK, and the UAE. This deal not only confirms the huge potential of clean-label nutrition but also highlights the changing face of the Indian healthcare market, where the distinction between medicine and wellness is slowly becoming indistinct.