Infrastructure major Larsen & Toubro (L&T) has announced the sale of its 100% stake in Nabha Power Ltd (NPL) to Torrent Power for ₹3,660 crore. The transaction, executed through L&T’s wholly owned subsidiary L&T Power Development, marks a significant step in the group’s ongoing strategy to monetise non-core assets and exit the development projects business. Strategic Value Unlock for L&T According to the company, the divestment is a value-driven monetisation exercise aimed at strengthening its core engineering and construction businesses. NPL, which owns and operates the 1,400 megawatt Nabha thermal power plant in Punjab, reported a turnover of ₹4,421 crore…
Author: Adarsh Kumar
Wealthtech startup Otto Money has raised $1.3 million in a pre-seed funding round led by Pravega Ventures, as it looks to build a technology-first wealth advisory platform tailored for India’s fast-growing base of digital investors. The round also saw participation from angel investors including Rishi Kohli (Jio BlackRock AMC), Amit Gupta, Amit Agarwal, Mohit Aron, along with existing backers. Building an AI-Powered Wealth Guidance Layer Founded in 2025 by Apurv Gupta and Ankur Lahoti, Otto Money is developing an AI-powered wealth guidance platform focused on data driven decision support rather than product distribution. The startup aims to provide multi asset…
Listed online travel platform EaseMyTrip has announced plans to raise up to ₹500 crore to accelerate growth in high potential segments, particularly hotels and holiday packages, according to a stock exchange filing. The proposed fundraising may be carried out in one or more tranches through permissible routes, including a rights issue, qualified institutions placement (QIP), preferential allotment, private placement, or other approved mechanisms. The company stated that the final structure, pricing, and timeline will be determined based on market conditions and regulatory approvals. Focus on Hotels, Holidays, and Technology The capital infusion is aimed at strengthening EaseMyTrip’s non-air travel portfolio,…
Bengaluru-based deeptech startup C2i Semiconductors has raised $15 million in a new funding round led by Peak XV Partners, with participation from Yali Deeptech and TDK Ventures. The fundraise comes less than a year after the company secured $4 million from Yali Capital in November 2024, underscoring growing investor confidence in India’s semiconductor innovation ecosystem. The fresh capital will be deployed to accelerate global expansion, establish a US office to engage closely with customers and decision makers, and build an applications and systems engineering team in Taiwan. Building Power Infrastructure for AI Data Centres Founded in June 2024 by Ram…
Healthcare focused edtech platform DailyRounds delivered another strong financial performance in FY25, reporting a 13% year-on-year increase in operating revenue and a similar 13% growth in net profit. The Bengaluru based company continues to demonstrate disciplined scale and robust margins in the medical education segment. According to consolidated financial statements filed with the Registrar of Companies (RoC), DailyRounds’ operating revenue rose to ₹641 crore in FY25, up from ₹568 crore in FY24. Marrow Continues to Anchor Revenue The company’s flagship product, Marrow, remained the primary revenue engine. The subscription-based medical learning platform offering video lectures, question banks, and test series…
Mumbai-based GenAI infrastructure startup Neysa has raised over $1.2 billion in a landmark funding round led by private equity funds affiliated with Blackstone, marking one of the largest capital infusions in India’s AI infrastructure space. The transaction comprises $600 million in equity capital, with the company planning to secure an additional $600 million through debt financing. The equity round also saw participation from Teachers’ Venture Growth, TVS Capital, 360 ONE Assets, and Nexus Venture Partners. While the company did not officially disclose its valuation, reports peg Neysa’s post money valuation at around $1.4 billion, making it one of India’s newest…
MeMeraki, India’s largest culture-tech platform enabling technology-led market access for traditional Indian arts and crafts, has secured a ₹1 crore investment from four Sharks on Shark Tank India. The deal saw participation from Varun Alagh, Namita Thapar, Kunal Bahl, and Viraj Bahl, marking a rare multi-Shark endorsement for a heritage focused, impact driven startup. Founder and CEO Yosha Gupta entered the Tank seeking ₹50 lakh for 1.67% equity. Following strong interest from the panel, the Sharks collectively closed a ₹1 crore deal for 4% equity, valuing the company at ₹25 crore post-money. The investment signals confidence in MeMeraki’s ability to…
Study abroad platform Leverage Edu delivered strong top line growth in FY25, but rising marketing and commission costs pushed its losses beyond ₹100 crore. The Delhi-based edtech startup reported a 91% year-on-year surge in operating revenue to ₹173 crore in the fiscal year ended March 2025, up from ₹90.6 crore in FY24, according to filings with the Registrar of Companies (RoC). However, rapid expansion came at a cost. Net loss widened 56% to ₹106 crore in FY25 from ₹68 crore in FY24. Revenue Mix Shifts as Financial Services Scales Founded in 2017 by Akshay Chaturvedi, Leverage Edu offers counselling, admissions…
Online travel platform ixigo has approved the acquisition of a 60% stake in Spain-based online rail ticketing company Trenes for a total investment of approximately ₹125 crore. The move marks ixigo’s first major international acquisition and its formal entry into the European rail travel market. Upon completion of the transaction, Trenes will become a step-down subsidiary of ixigo. The company also retains the option to acquire the remaining stake in the future. Founded in 2013, Trenes operates across Spain and Southern Europe and is integrated with key Spanish and European rail operators, enabling seamless multi-operator train bookings. Spain’s rail network…
Ola Electric reported a sharp 55% year-on-year decline in revenue for the third quarter of FY26, reflecting continued pressure on its electric two-wheeler business. Despite the steep drop in topline, the Bengaluru-based EV maker managed to trim its losses by 14% during the quarter through tighter cost controls. According to its consolidated financial statements filed with the National Stock Exchange (NSE), Ola Electric’s revenue from operations fell to ₹470 crore in Q3 FY26, compared to ₹1,045 crore in Q3 FY25. Including other income from battery and automobile related activities, total revenue stood at ₹504 crore, down from ₹1,172 crore in…