Tag: Inc42 Media

EV startup Bounce has successfully raised ₹36 Cr ($3.9 Mn) in a recent funding round led by existing investors Accel and B Capital. The startup, founded in 2014 and initially focused on bike rentals, has now shifted its focus to the electric scooter market. With a total funding of over $200 Mn, Bounce plans to utilize the latest investment to strengthen its infrastructure for India’s gig economy, particularly in the realm of last-mile delivery.

Bounce’s CEO, Vivekananda Hallekere, shared that the funding will fuel the growth of the company’s B2B EV rental ecosystem, emphasizing its Battery-as-a-Service (BaaS) platform and affordable scooter offerings for gig workers at ₹1 per km. Noteworthy partnerships with Sun Mobility and Swiggy demonstrate Bounce’s commitment to expanding its presence across key Indian cities and catering to the rising demand for electric mobility solutions.

This strategic fundraise signifies a pivotal moment for Bounce as it embarks on a trajectory of rapid scale-up and diversification within the EV sector. The infusion of ₹36 Cr is set to pave the way for further innovation and expansion, solidifying Bounce’s position as a significant player in India’s evolving electric vehicle landscape.

Source: Inc42 Media

Defense technology startup Constelli has raised $20 million (approximately ₹182 crore) in a funding round led by General Catalyst, along with 360 ONE Asset and existing investor Pravega Ventures. The Hyderabad-based company, founded in 2017 by Satya Gopal Panigrahi and Avinash Chenreddy, specializes in advanced signal processing, radar systems, and electronic warfare solutions for aerospace and defense applications.

With this new funding, Constelli aims to accelerate its research and development activities focused on enhancing electronic warfare and communication payloads across various platforms, including drones, ground systems, naval vessels, and satellites. The capital will also be used to establish infrastructure for rapid prototyping and initial production, enabling quicker deployment of operational systems.

Constelli had previously raised $3 million in a pre-Series A round in 2025, bringing its total funding to $23 million (₹209.36 crore). The company collaborates with prominent organizations such as DRDO, the Indian Air Force, HAL, and BEL, and is also eyeing expansion into international markets like South Korea and Australia.

The investment in Constelli comes amid growing investor interest in defense technology startups, driven by the Indian government’s emphasis on self-reliance in the sector. Initiatives like Defense Innovation Organisation’s iDEX, Make in India, and Aatmanirbhar Bharat Abhiyan are fostering partnerships between startups, armed forces, and industry players to propel India’s evolution from a major arms importer to a global defense manufacturing hub.

Source: Inc42 Media

The Indian Railways has introduced a dedicated tech policy to engage startups in developing solutions for the railway sector. Railway Minister Ashwini Vaishnaw unveiled this initiative, inspired by the defense ministry’s iDEX program, to encourage innovators, startups, and institutions to contribute their technological expertise to enhance railway operations.

The core of this tech policy revolves around a new ‘Rail Tech portal’ that streamlines the proposal submission process for startups, eliminating complex procedures and enabling direct interaction with the Railways. Once a project receives approval, the ministry will provide up to 50% funding, with the promise of substantial long-term orders upon successful solution development.

This policy shift emphasizes technology adoption over rigid vendor specifications, aiming to create an ecosystem that is transparent, digital-driven, and conducive to innovation. The Railways seeks to facilitate collaboration with startups, enhance scalability grants, and double the maximum grant for prototype development and trials, signaling a more supportive approach towards technological advancements in the railway industry.

Source: Inc42 Media

New-age technology stocks faced a challenging week as market volatility led to a substantial decline in their value. A total of 54 new-age tech companies experienced a collective decrease of $15.9 billion in market capitalization, ending the week at $127.3 billion compared to $143.2 billion the previous week.

Among the 54 companies, share prices of 39 plummeted by as much as 24%, with several hitting fresh lows, including Veefin Solutions, Awfis, Zaggle, Ola Electric, Smartworks, Pine Labs, WeWork India, MapmyIndia, Urban Company, and PhysicsWallah.

Despite the general downward trend, 15 companies managed to see their stock prices rise between 0.11% and close to 29% during the February 23-27 period.

Prominent companies like Groww, Paytm, Swiggy, and Eternal were not immune to the market downturn, with their share prices also taking a hit. In contrast, BSE SME-listed Zelio Mobility experienced a notable 28.92% surge, while Lenskart continued its upward trajectory, reaching a new all-time high.

Key events during the week included Fino Payments Bank’s CEO Rishi Gupta’s arrest for alleged tax evasion and Capillary Technologies’ acquisition of Mastercard’s cloud-based loyalty and engagement platform Sessi by its step-down subsidiary.

Source: Inc42 Media

In the biotech industry, where the demand for biologics and biosimilars is surging, Lemnisca has introduced a novel approach to address the challenges faced by manufacturers in scaling up production.

By integrating a software solution with in-house wet lab capabilities, Lemnisca leverages data to enhance the precision of its digital twin platform. This strategy represents a significant advancement in the bioprocessing industry, reshaping the way businesses recreate life’s fundamental building blocks.

The global bioprocessing sector is on a remarkable growth trajectory, projected to reach $228.73 billion by 2033. The escalating need for bio-based materials across various sectors has catalyzed India’s bio-economy, witnessing a substantial 16-fold increase to $165.7 billion in the last decade.

Recognizing the immense potential in biotech, Lemnisca’s founders, Pushkar Pendse and Shilpa Nargund, identified the critical gap between laboratory experiments and large-scale production. Their digital twin platform for fermentation is poised to empower biotech manufacturers to elevate bioprocesses to an industrial scale, enhancing the accessibility and affordability of biotech products.

This strategic approach by Lemnisca aligns with the global trend towards more efficient and scalable bioprocessing solutions, paving the way for a transformative impact on the industry’s landscape.

Source: Inc42 Media

Fintech company Innoviti has successfully closed its Series M funding round, raising ₹104 Cr ($11.4 Mn) from a mix of new and existing investors. The funding will be used to pay off debts, enhance product development, and boost sales and distribution efforts. Bessemer Venture Partners and Patni Family Office are among the key investors who participated in this round.

Innoviti has reported a reduction in pre-tax and EBITDA losses for the current fiscal year, indicating improved operational efficiency. The company has also extended its IPO timeline, planning to file IPO papers with SEBI within the next 18-24 months. Despite the delay, Innoviti remains focused on business growth and execution.

With a strong revenue performance in the previous fiscal year and ongoing efforts to streamline operations, Innoviti is poised for further expansion and market presence. The company’s commitment to financial stability and growth aligns with its strategic goals, setting a solid foundation for future success.

Source: Inc42 Media

Inc42, a prominent player in India’s tech startup ecosystem, recently concluded its sixth edition of the D2CX program, which aims to support and nurture early-stage Direct-to-Consumer (D2C) brands in the country. The program, launched two years ago, provides a structured 12-week curriculum focused on helping D2C brands refine their execution strategies through mentorship, growth playbooks, and peer learning.

The latest cohort comprised 40 diverse D2C brands spanning categories like beauty, fashion, food, wellness, and lifestyle. India’s booming ecommerce sector, projected to exceed $400 billion by 2030, has attracted significant investor attention, with ecommerce being one of the most funded sectors in recent years.

D2C brands have emerged as a popular choice for entrepreneurs seeking to build consumer-centric brands emphasizing ownership, community, and distribution control. However, scaling these brands poses various challenges such as high customer acquisition costs, channel fragmentation, inventory management issues, and margin pressures.

To assist D2C founders in overcoming these obstacles, Inc42’s D2CX program offers practical guidance, operational insights, and networking opportunities to empower brands to navigate the complexities of growth successfully. With a track record of supporting over 300 D2C brands across multiple cohorts, the program continues to play a pivotal role in fostering the growth of India’s burgeoning D2C ecosystem.

Source: Inc42 Media

Quick commerce enablement startup Inamo has secured ₹50 Cr in a Series A funding round. The round was led by Five SB Limited, with participation from Shastra VC, Antler, and Gemba Capital. The funding values the startup at ₹110 Cr pre-money.

Inamo, founded in 2024, specializes in assisting businesses in establishing and optimizing dark store operations through technology solutions and last-mile delivery services. The startup plans to use the new funds to enhance its operations and expand its presence in the competitive quick commerce landscape.

With a presence in six metro cities and over 50 dark stores, Inamo competes with industry players like Zippee and Blitz in the quick commerce sector.

Source: Inc42 Media

Startup funding in India demonstrated resilience in the final week of February, as 33 startups collectively secured $219.8 million in investments, although this represented a 23% decrease from the previous week’s total. Notable developments included Temple, a company in the Advanced Hardware & Technology sector focusing on Internet of Things (IoT) and hardware for B2C applications, securing $54.1 million in funding from investors like NK Squared and Deepinder Goyal.

Another standout was Constelli, an Advanced Hardware & Technology startup specializing in Defence Tech for B2B and B2G markets, which raised $20 million with backing from General Catalyst and 360 One Asset Management. These funding rounds highlight the growing interest and support for tech innovations in India across various sectors.

Throughout the week, the commerce segment dominated with 9 deals, leading to ecommerce startups securing $27.1 million in funding. Despite the absence of mega funding rounds during this period, investors such as Lightspeed and ajvc remained active, supporting multiple startups in their growth endeavors.

Indian startup funding, while slightly lower compared to the previous week, continues to demonstrate the vibrancy and potential within the country’s tech ecosystem. This sustained momentum underscores the confidence investors have in the innovative solutions and business models emerging from India’s startup scene.

Source: Inc42 Media