Browsing: Industry Updates

ID.me, trusted by more than 152 million users to securely prove their identity online, has raised $340 million across a Series E financing announced today and its recent credit facility, at a valuation exceeding $2 billion. The Series E round was led by Ribbit Capital, with participation from existing investors Ares Credit funds and Moonshots Capital, as well as new investors, including Positive Sum. This funding will accelerate ID.me’s mission to expand access to secure, reusable digital identity and to stop AI-driven fraud.

CityMall has raised $47 million in funding led by Accel. Existing investors including Waterbridge Ventures, Citius, general catalyst, Elevation Capital, Norwest Venture Partners, And Jungle Venture also backed the round.

Offgrid Energy Labs, a battery tech startup, has raised $15 million in Series A funding led by Archean Chemicals. This investment will help advance their innovative ZincGel batteries, paving the way for large-scale energy storage solutions.

Hyderabad: Enmovil, a full-stack AI supply chain planning and visibility startup, has raised Rs 52 crore (approx. $6 million) through a Series A funding round led by Sorin Investments, an early stage Indian venture capital firm co-founded by former KKR India CEO Sanjay Nayar and Caravel Group COO Angad Banga. Capria Ventures and Twynam also participated in the funding round.

India’s youngest airline Akasa on tuesday said it has completed funding transaction of about Rs 1,200 crore from new investors including Premji Invest, asset management firm 360 ONeAsset, and investment office of Ranjan Pal.

Dr. Reema Bali, CEO and Partner at Alpha Partners, delivered a comprehensive and effective Prevention of Sexual Harassment (POSH) awareness program at the Learning Centre of Numaligarh Refinery Limited (NRL) in Assam.

Internet of Things (IoT) communications startup Comminent currently focuses on the smart metering segment, and plans to expand into large-scale deployments such as smart street lighting and water metering, founder Amarjeet Kumar told ET. It is targeting revenue of around Rs 300 crore over the next three years.

The fund intends to invest in pre-seed and seed rounds of 18 to 20 startups that are developing critical technologies locally, a strategy it refers to as creating a sovereign edge. The investments are planned to be deployed over four years, with individual amounts ranging from Rs 7 crore to Rs 10 crore, while reserving 50% of the total capital for follow-on funding.

Bengaluru-based Neuralzome Cybernetic raises $2.4M pre-seed funding to scale its Robot-as-a-Service platform, aiming to make autonomous robotics accessible across sectors like agriculture and manufacturing.

“This funding from Elevation Capital and General Catalyst will allow us to build mega factories and enhance our technology while continuing to deliver exceptional value to our global customers,” said Vishal R. Sanghavi, founder and CEO, Jeh Aerospace.