Browsing: Industry Updates

Flexiloans, an NBFC focusing on small businesses, secured Rs 375 crore in funding, led by existing investors like Fundamentum and Accion. This capital infusion, a mix of primary and secondary, will fuel its expansion into secured lending and insurance distribution. Flexiloans achieved profitability for three consecutive years, with Rs 263 crore revenue and Rs 3 crore profit in FY24.

Decentro, a fintech startup, secured Rs 30 crore in funding led by InfoEdge Ventures. The company intends to move its base from Singapore to India. This move aligns with other Indian startups returning home. Decentro aims to enhance its products and expand its enterprise adoption. They offer APIs for KYC, payments, and debt collection.

The Bengaluru-based company, which provides standardised athletic assessments for children, will use the funds to develop its proprietary AI models, expand in domestic markets, and enhance support systems for athletes.

Agritech startup GROWiT India raised $3 million in a round led by GVFL, with participation from several investors. The funds will support expansion, enhance R&D, and improve technology infrastructure. CEO Saurabh Agarwal emphasised using technology to tackle climate challenges and promote sustainable, cost-effective farming for increased yields.

Ahmedabad-based startup Orbitt Space has raised US$1 million in a pre-seed funding round led by pi Ventures, with participation from IIMA Ventures.

360 ONE Asset’s Rs 500 crore VC fund will invest in seed and Series A startups across sectors including AI, fintech, spacetech, defence, and precision manufacturing

LIC-owned Paisalo Digital has approved the issuance of Non-Convertible Debentures (NCDs) worth up to ₹50 crore at a 10 per cent coupon rate, maturing in 24 months. Despite recent gains in May, the NBFC’s stock remains over 47 per cent down year-on-year.

Solar Defence and Aerospace (SDAL) successfully tested Bhargavastra, a low-cost counter-drone system, at the Gopalpur firing range. The system uses micro rockets to neutralize drone swarms, marking progress in India’s drone defense capabilities. Prime Minister Modi reviewed indigenous defence projects, including the Nagastra-3 loitering munition, highlighting advancements in India’s defence technology.

AI infrastructure startup Flam has raised $14 million in its Series A round, led by RTP Global, with participation from Dovetail and other strategic investors. With this capital, Flam aims to accelerate its mission of transforming how consumers engage with ads, retail environments, live broadcasts, and fan moments – all by making content and interfaces more immersive, interactive, and RoI-driven for brands.

This marks the company’s largest fundraise, comprising primary capital infusion and secondary stake sales.