Category: Startup

BYJU’S parent company, Think & Learn Pvt Ltd, has contested the National Company Law Appellate Tribunal’s (NCLAT) approval of Aakash Educational Services Limited’s (AESL) ₹240 Cr rights issue. The NCLAT’s decision allows Aakash to proceed with the second tranche of its fundraising, despite objections from BYJU’S. AESL shareholders had previously approved a plan to raise ₹240 Cr through a rights issue, with ₹100 Cr in the first tranche and ₹140 Cr in the subsequent tranche. This move could potentially reduce BYJU’S stake in Aakash from 26% to less than 5%, affecting the control BYJU’S acquired in AESL back in 2021 for nearly $950 Mn-$1 Bn.

Ranjan Pai’s family office, a major stakeholder in AESL, was also set to invest an additional ₹250 Cr in the coaching chain through the rights issue. Despite attempts by BYJU’S and Glas Trust to halt the rights issue, the resolution professional of BYJU’S parent company contested Aakash’s capital raise in multiple legal venues, including the NCLT, NCLAT, and the Supreme Court. TLPL even deposited INR 25 Cr to subscribe to the shares under the rights issue, indicating a complex legal and financial battle unfolding in the education sector.

Source: Inc42 Media

Indian agritech startup Fyllo is transforming farming practices by leveraging advanced technology to enhance decision-making for farmers. Co-founders Sudhanshu Rai and Sumit Sheoran established Fyllo as an AI-powered climate risk intelligence platform designed to assist farmers throughout the crop cycle.

By deploying IoT devices equipped with soil sensors and collecting localized data, Fyllo enables farmers to make informed choices on irrigation and fertilization timing. The platform integrates this data with short-range weather models to provide actionable guidance, reducing water usage, cutting fertilizer expenses, and ultimately enhancing crop yields.

Fyllo’s community-based deployment approach and focus on aggregated data models have already made a significant impact, with over 13,000 farmers benefiting from the technology across 22 crops. The company’s hardware-plus-subscription model ensures continuous support and valuable insights for farmers, contributing to sustainable farming practices and improved financial returns.

Source: Inc42 Media

Financial services company Equirus Group has successfully concluded its first early-stage venture capital (VC) fund, Equirus InnovateX Fund, raising ₹166 Cr ($18.3 Mn). Launched in January 2024 with a target of ₹207 Cr ($25 Mn), the fund aims to support up to 15 startups across sectors like SaaS, deeptech, and fintech, with a focus on B2B ventures.

Equirus has already invested in seven startups, including Pointo, Datazip, and Consuma AI, and plans to deploy the remaining capital over the next 12-18 months to fuel further innovation and growth in the tech startup ecosystem.

The fund’s limited partners (LPs) include industry figures like Xoriant founder Girish Gaitonde and Jyothy Labs chairperson M R Jyothy, indicating strong support for emerging tech ventures.

This milestone for Equirus Group comes as the industry sees increased investments in deeptech startups, reflecting a broader shift towards supporting cutting-edge technology innovations.

Source: Inc42 Media

Indian AI cloud infrastructure startup Neysa has secured a $1.2 billion funding deal with US-based Blackstone, marking a significant milestone in the tech industry. The funding, which includes $600 million from Blackstone and additional debt financing, propels Neysa’s enterprise valuation to $1.4 billion. This is expected to be the largest funding round for an AI-native startup in India, underscoring the growing importance of AI in the tech ecosystem.

Neysa’s strategic plan involves deploying 20,000 GPUs across India to bolster its cloud infrastructure network, catering to the increasing demand for AI solutions in various sectors such as finance, healthcare, and technology startups. The startup’s focus on GPU-led cloud and AI infrastructure solutions positions it as a key player in enabling companies to efficiently handle AI workloads.

Co-founded in 2023 by Sharad Sanghi and Anindya Das, Neysa has attracted substantial funding in previous rounds, including investments from Nexus Venture Partners and NTT Venture Capital. This recent funding round not only signifies investor confidence in Neysa’s vision but also highlights the critical need for advanced AI infrastructure to support India’s ambitions in the AI space.

Source: Inc42 Media

Semiconductor startup C2i Semiconductors has successfully raised $15 million in its Series A funding round, with Peak XV Partners leading the investment along with TDK Ventures and existing backer Yali Capital. The Bengaluru-based company, founded in 2024 by Vikram Gakhar, Preetam Charan Anand Tadeparthy, and Ramprasad Ananthaswamy, aims to advance the development of high-density and highly reliable power delivery solutions tailored for AI computing.

C2i Semiconductors plans to utilize the newly acquired capital to enhance its offerings for the next generation of AI data centers and cloud infrastructure. By focusing on power management solutions, the company addresses the critical challenge of power delivery in modern data centers, particularly with the growing scale and density of AI workloads. C2i’s approach emphasizes configurable, platform-based power architectures that cover the entire spectrum from grid to core, enabling increased power density, streamlined system design, faster deployment, and meeting the stringent reliability standards of large-scale AI infrastructure.

Previously, the company received a $4 million investment from Yali Capital in November 2024, further bolstering its financial position and technological advancements. This funding round underscores the increasing significance of semiconductor startups in the tech ecosystem and their role in shaping the future of AI computing solutions.

Source: Inc42 Media

CraftifAI, a tech startup, has raised $3 million in its seed funding round to further develop its CraftifAI Orbit platform. The platform utilizes AI to automate embedded software development for Edge, IoT, and AI-powered devices. The funding, led by Ankur Capital and backed by IvyCap Ventures, Capital-A, and Antler, aims to expand CraftifAI’s engineering and go-to-market teams globally.

Founded by Pratik Sharda and Yashwant Dagar, CraftifAI’s platform simplifies the process of building intelligent systems by streamlining code generation and AI/ML deployment. By consolidating various toolchains into a unified AI-driven workflow, CraftifAI Orbit accelerates the embedded software lifecycle, enabling clients to bring hardware products to market more efficiently and accurately.

The startup has already secured partnerships with Indian OEMs in robotics, drones, IoT, and AI camera domains, as well as a US-listed semiconductor company. With the increasing proliferation of smart devices, projected to surpass 41 billion by 2030, CraftifAI’s focus on automating software development for connected devices is strategically positioned to meet the growing market demand.

Source: Inc42 Media

The Reserve Bank of India (RBI) has approved the appointment of Rajan Bajaj, the founder of slice, as the Managing Director and CEO of slice Small Finance Bank (SFB). This move marks a significant step in the technological transformation journey at slice SFB, ushering in a new era of leadership.

Rajan Bajaj, who previously served as the executive director of the bank, will now take over from Satish Kumar Kalra in his new role. The RBI’s approval, effective from February 17, solidifies Bajaj’s position at the helm of slice SFB.

slice SFB recently reported a notable net profit of ₹28 crore in the initial nine months of FY26, showcasing a remarkable financial turnaround. This profitability surge follows the merger with North East Small Finance Bank (NESFB), completed in October 2024. The amalgamation consolidated operations, assets, and brand identities, paving the way for a more robust banking institution.

Post-merger, slice SFB’s capital position witnessed a substantial boost, with its net worth soaring to ₹891 crore as of September 30, 2025. The bank’s assets under management (AUM) also experienced a remarkable growth of over 250% year-over-year, reaching ₹3,759 crore in H1 FY26.

The alignment of digital architecture, inclusive of UPI products and lending platforms, with physical branch infrastructure post-merger underscores slice SFB’s commitment to integrating cutting-edge technology solutions into its core banking operations.

Source: Inc42 Media

ValleyNXT Ventures, a prominent venture capital firm, has launched a new fund aimed at nurturing deeptech startups in various cutting-edge fields. With a target corpus of ₹200 Cr and a greenshoe option of ₹200 Cr, the Bharat Breakthrough Fund-I is set to propel innovation in sectors such as spacetech, defense tech, robotics, AI/ML, cybersecurity, biotech, sustainability, and consumer innovation.

The fund plans to provide substantial support to startups, intending to invest ₹100 Cr to ₹120 Cr in 25-30 early-stage ventures initially, followed by additional investments in a select few. Notably, each startup will undergo a rigorous nine-month accelerator program, emphasizing mentorship, investment, and networking opportunities.

ValleyNXT Ventures boasts a strong lineup of industry veterans, including Anvita Varshney, Arun Kanodiya, Rahul Garg, and Sandeep Aggarwal, who will serve as mentors for the accelerator program. The firm, established in 2021, has already made significant investments in startups like Cloudworx Studio, The Theatre Project, and Swaaha.

This initiative aligns with the government’s push to foster technological innovation and entrepreneurship, as the deeptech sector continues to gain traction and investment.

Source: Inc42 Media

Aye Finance, a non-banking financial company (NBFC) focused on micro, small, and medium enterprises (MSMEs), made its stock market debut with a flat listing at the issue price of ₹129 on both the BSE and NSE. The company’s initial public offering (IPO) comprised a fresh issue size of ₹710 Cr and an offer-for-sale (OFS) component of ₹300 Cr, garnering a subscription of 97%. Despite an optimistic start, the stock closed its first trading session at ₹128.90, marginally below the IPO price.

Founded in 2014 by Vikram Jetley and Sanjay Sharma, Aye Finance specializes in offering small-ticket business loans to MSMEs, aiding in working capital and business expansion. The IPO valued the NBFC at around ₹3,183 Cr at the upper end of the price band. Notable investors like Alpha Wave India I LP and CapitalG LP were among those who offloaded shares via the OFS. MAJ Invest Financial Inclusion Fund II emerged as a major beneficiary, securing a 1.7X return on its initial investment post the public listing.

The significance of Aye Finance’s stock market debut lies in the tech implications for the fintech sector. As a tech-driven NBFC, Aye Finance’s IPO and subsequent performance reflect investor sentiment towards technology-enabled financial services catering to the underserved MSME segment. This listing could set a precedent for other tech-focused financial institutions looking to tap into the capital markets for growth and expansion.

Source: Inc42 Media

Exponent Energy, known for its expertise in EV rapid charging, has made a strategic move into the EV financing sector by launching a subsidiary named ‘Exponent One.’ The startup has partnered with former evfin CEO Sandeep Divakaran, who will serve as the new subsidiary’s CEO.

Exponent One’s growth has been bolstered by a $2 million investment from VC firm AdvantEdge during a pre-seed funding round. This capital injection aims to facilitate Exponent One’s expansion into prominent commercial EV hubs.

Addressing critical industry challenges, Exponent One will provide tailored financing solutions for commercial EV operators. Leveraging real-time vehicle and charging data, the subsidiary will offer adaptive underwriting and earnings-linked financing options for driver-owners and small fleet operators. By incorporating flexible repayment structures, integrated protection mechanisms, and guaranteed buybacks, Exponent One aims to enhance asset reliability, minimize lender risk, and foster long-term financial stability for operators.

Through partnerships with traditional financiers, Exponent One plans to extend its EV financing services across various vehicle segments, including three-wheelers, four-wheelers, light commercial vehicles (LCVs), buses, and trucks.

Source: Inc42 Media