Pune/Delhi | August 14, 2025 — SMBC Asia Rising Fund—backed by Japan’s Sumitomo Mitsui Banking Corporation has acquired a 4.99% stake in Shivalik Small Finance Bank for $7 million (≈₹60 crore), valuing the bank at ₹1,200 crore. Shivalik SFB, which transitioned from a cooperative bank, operates 79 branches with over 900,000 customers, catering to MSMEs and retail clients. The fresh capital will fund strengthened digital infrastructure, modernization of product, engineering, and operations teams, and support for the next phase of its 35–40% annual growth ambition. Existing investors—including Accel, Quona, Lightspeed, and Sorin Investments added ₹40 crore via pro-rata participation, completing…
Author: Aman Atulya
August 2025 — Born in the modest town of Ambajogai, Maharashtra, Anand Mahurkar’s journey from a professor’s son to the founder of a globally acclaimed AI company is a masterclass in grit and vision. A national scholarship opened the doors for him to study mechanical engineering for just ₹250 a year. His first role as a project engineer at Bharat Forge exposed him to German engineers working on robotics. With no formal training, Anand taught himself coding after hours. This skill became his ticket to Videocon’s automation unit, and later, the Y2K-era boom at Kale Consultants, where he mastered C++…
Bengaluru | August 13, 2025 — Medical technology startup Cureous Labs has raised ₹1.66 crore in its pre-Series A seed round, led by Inflection Point Ventures (IPV) with participation from Anthill Ventures, to launch their flagship product, Eturnal, in India. What is Eturnal? Developed by Ashish Mohandas, Eturnal is an automated patient-repositioning device designed to prevent bedsores—an issue that affects millions of bedridden patients. It not only improves patient care but also enhances efficiency for nurses and caregivers. The device is priced at one-fifth the cost of global alternatives. The startup reports over 30,000 hours of machine usage and has…
Nashik | August 12, 2025 — Technology solutions company Satmat has announced its entry into the financial services sector with the launch of its new NBFC venture, PFIL Finance. The company inaugurated its first branch in Nashik, marking a significant milestone in its diversification strategy. From Tech to Finance Known for its tech-driven products and services, Satmat is now venturing into financial solutions aimed at individuals and businesses. PFIL Finance will initially focus on: With this expansion, Satmat is looking to leverage its technology background to introduce faster, more transparent, and customer-friendly lending solutions. Strategic Shift Towards Product-Based Growth The…
Indore | August 12, 2025 — Luxury vegan self-care brand Kimirica has raised $15 million (₹125+ crore) in growth capital from Carnelian Asset Management LLP, led by market veteran Vikas Khemani. The investment aims to fuel Kimirica’s domestic and global expansion across both its hospitality and consumer verticals. From Hotel Amenities to Global Lifestyle Brand Founded in 2013 by Mohit, Rajat, Kimi, and Rica Jain, Kimirica began by localizing premium hotel toiletries in an industry dominated by imports from China. Over the past decade, the company has scaled into two distinct but synergistic arms: Today, Kimirica’s reach spans 70+ countries,…
Bengaluru | August 12, 2025 — AI entertainment startup Dashverse has raised $13 million in its Series A round led by Peak XV Partners, with participation from Z47 and Stellaris Venture Partners. The fresh capital will help the company expand its AI-powered storytelling ecosystem, including popular platforms DashReels, Dashtoon, and Frameo.AI. From Start to Scale Founded in 2023 by Sanidhya Narain, Lalith Gudipati, and Soumyadeep Mukherjee, Dashverse has quickly built a mobile-first content network where creators can develop, publish, and monetize original stories. Its products span microdramas, webtoons, and AI-assisted creative tools—designed for the short-form, high-engagement habits of today’s global…
Singapore | August 11, 2025 — E-commerce technology startup Graas AI has raised $9 million in a pre-Series B funding round led by Tin Men Capital, with participation from Incred Wealth, Orzon, and returning backers Integra Partners and Yuj Ventures. From Insights to Action Founded in 2022 by Prem Bhatia and Ashwin Puri, Graas AI has built Agent Foundry, a multi agent platform designed to execute not just analyze commerce tasks. Instead of relying on dashboards, the system uses autonomous AI agents to act directly on business data. Specialized agents in the platform include: The goal is simple: automate complex…
New Delhi | August, 2025 — Indian fintech major BharatPe is in advanced discussions to secure $80–100 million in a pre-IPO equity round, with US-based Coatue Management expected to lead the investment. This would be BharatPe’s first major equity raise in four years. Funding Snapshot Profitability Milestone The fundraising comes on the back of BharatPe turning profitable in FY25, posting a ₹6 crore profit before tax (excluding ESOP costs) — a sharp turnaround from past losses. CEO Nalin Negi has underlined the company’s intent to maintain consistent profitability before listing on the public markets. Fintech Ecosystem Play Over the years,…
The Union Government has officially withdrawn the proposed Income-Tax Bill, 2025, which aimed to overhaul the nearly six-decade-old Income-Tax Act, 1961. The draft, introduced in the Lok Sabha in February, will now be reintroduced in a refined form on August 11, following extensive review. Why the Withdrawal? A Parliamentary Select Committee, chaired by MP Baijayant Panda, reviewed the bill and submitted over 285 recommendations addressing technical inconsistencies and language clarity. The government decided a new consolidated version would prevent confusion arising from multiple amendments. Key Suggestions Incorporated What’s Next The re-drafted bill is expected to be more accessible, taxpayer-friendly, and…
Bengaluru | August 9, 2025 — BlueStone Jewellery & Lifestyle, the Bengaluru-based fine jewellery retailer, has raised ₹693 crore from anchor investors ahead of its initial public offering (IPO) scheduled for August 11–13. The IPO is priced in the ₹492–₹517 range per share. Anchor Investment Details The company allotted 1.34 crore shares at ₹517 each to institutional investors including SBI Life Insurance, Goldman Sachs, Aditya Birla Sun Life AMC, and Axis MF. This strategic allocation signals strong institutional confidence in BlueStone’s growth story. IPO Structure The jewellery retailer aims to raise ₹1,540 crore through the offering: Business Footprint Founded in…