Browsing: Industry Updates

Nandan Nilekani’s Fundamentum, Elevation Capital and Peak XV Partner also participated in the funding for the parent company of the devotional platform, Sri Mandir. The funds will be used to invest in over 20 temple towns in India, strengthen services and commerce verticals, and set up fulfilment and logistics hubs.

The fresh funds will be used to scale and develop its AI agent workforce across global life sciences enterprises, build its engineering team, and integrate with some legacy platforms within the life sciences segment. The Boston-based startup uses AI agents to automate and raise the level of efficiency of scientific knowledge work within highly regulated industries.

Cloud kitchen operator Curefoods has filed its draft red herring prospectus for an IPO, comprising a fresh issue of Rs 800 crore, alongside an offer for sale of 48.5 million shares. JM Financial, IIFL, and Nuvama are the bookrunning lead managers for the IPO.

Meesho, which completed its domicile shift from the US to India last week, will file its draft IPO prospectus under Sebi’s confidential route, the documents show. Investors Elevation Capital, Peak XV Partners and Prosus are among the largest institutional shareholders in Meesho, owning 13-15% stake each. Japanese investor SoftBank owns close to 10% stake in the etailer focused on value retailing at lower price points.

Zilo, a fashion tech startup, secured $4.5 million in seed funding led by Info Edge Ventures and Chiratae Ventures to expand its quick commerce model. The company plans to enhance its supply chain, brand partnerships, and geographic reach, aiming to deliver fashion and lifestyle products from over 250 brands within 60 minutes.

Existing investors, including stock market investor Amal Parikh, Think Investments, and other family offices, participated. With this, the company has raised a total of $145 million to date. Per founder and CEO Vivek Mishra, the fresh capital will be used for improving its R&D strengths and expanding its manufacturing facility.

Industrial 47, Antler, AC Ventures, Dexter Ventures, and several angel investors participated in the round. This comes at a time of heightened interest in indigenous defence manufacturing and AI-powered security systems, as India looks to reduce import dependence and strengthen domestic capabilities.

The funds will fuel expansion to new cities and online platforms. The company plans to broaden its product line with snacks from South India.

Industrial 47, Antler, AC Ventures, Dexter Ventures, and several angel investors participated in the round. This comes at a time of heightened interest in indigenous defence manufacturing and AI-powered security systems, as India looks to reduce import dependence and strengthen domestic capabilities.

The deal, led by Andreessen Horowitz, with participation from Conviction Partners (founded by ex-Greylock investor Sarah Guo), is among the largest-ever seed rounds in Silicon Valley’s history – underlining the investor frenzy surrounding AI model companies founded by ex-OpenAI leaders.