Tag: 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

Former BharatPe CEO Suhail Sameer has successfully closed the first fund of OTP Ventures at ₹500 Cr, surpassing its initial target of ₹400 Cr after a 17-month fundraising exercise that commenced in August 2024.

The fund received commitments exceeding ₹750 Cr by January 2026, but Sameer decided to cap it at ₹500 Cr to maintain ‘fund size discipline and return considerations’.

Initial contributions of ₹180-200 Cr came swiftly from founders, colleagues, friends, and venture capital investors, while the fund faced challenges with institutional investors and family offices in subsequent quarters.

By November 2025, the fund had exceeded the original target, with a diversified LP base of approximately 55 investors, including about 20 startup founders. Sameer emphasized the importance of honoring existing investors’ trust by limiting the fund size and rejecting additional institutional investments.

Source: Inc42 Media

Recent actions by the Reserve Bank of India (RBI) have affected the stock market, particularly impacting online brokerages like Groww and Angel One. The technology underlying these platforms is now facing scrutiny as the RBI tightens lending norms for stockbrokers.

Following the announcement of tighter regulations, Groww and Angel One saw significant drops in their share prices during intraday trading. The RBI’s decision to cap loan-to-value ratios for retail investors and impose stricter collateral and exposure norms on brokers has immediate implications for these platforms.

For tech enthusiasts, this move highlights the critical role technology plays in modern finance. Online brokerages rely heavily on sophisticated platforms to facilitate seamless trading experiences for their users. With lending norms being tightened, these platforms will need to adapt their technology to comply with the new regulations while maintaining a user-friendly interface.

As the RBI’s measures aim to reduce leverage-driven trading and speculative participation in equities, tech companies like Groww and Angel One will need to innovate and adjust their platforms to ensure compliance and mitigate potential risks associated with the new norms.

Looking ahead, the impact of these regulatory changes on the tech infrastructure of online brokerages will be closely watched by industry observers, as it will provide insights into how technology can adapt to evolving financial regulations.

Source: Inc42 Media