Two Point O Capital, a climate-focused financing platform, has successfully raised $6.3 million in a seed funding round. The investment was led by Omnivore and participation from other notable investors like Multiply Ventures, RTP Global, GrowX, Spectrum Impact, and several prominent angel investors.
The newly acquired funds will be allocated to enhancing its tech-driven platform, designed for sourcing, financing, and monitoring distributed clean energy projects. A portion will also be directed toward expanding its team with top-tier talent.
Established in 2024 by Archit Mehrotra, Karan Bhutani, Manya Ranjan, and Shashidhar Reddy, Two Point O Capital specializes in offering flexible financing solutions for clean energy projects in the commercial and industrial sectors.
Based in Gurugram, the startup primarily focuses on solar rooftops, energy efficiency, and wastewater treatment, providing leasing and capex financing options. Additionally, it aims to collaborate with both operational and financial partners to build and manage a high-quality portfolio on its platform.
Namma Yatri, a leading mobility app in Bengaluru, has secured $11 million in a pre-Series A funding round to further enhance public transportation and empower local drivers. The round was led by Blume Ventures and Antler, with Google and other investors contributing to support Namma Yatri’s mission to offer a seamless, reliable, and sustainable transportation experience for the city’s commuters.
Launched in 2022, Namma Yatri is part of a broader suite of community-driven apps developed by Moving Tech, including Yatri Sathi, Yatri, and Mana Yatri. Built entirely as an open-source platform, Namma Yatri leverages the ONDC Network, aiming to create a transparent, efficient, and scalable transportation ecosystem. Its vision is to function as the “UPI for mobility,” making transportation as accessible and integrated as digital payments in India.
Namma Yatri focuses on improving driver earnings through direct-to-driver and multimodal transportation models, offering affordable solutions to commuters while simultaneously uplifting the livelihoods of local chauffeurs. This funding is a major milestone in Namma Yatri’s journey to becoming the go-to mobility platform for Bengaluru and expanding its impact in urban transport across India.
The Securities and Exchange Board of India (SEBI) has given the go-ahead for One Mobikwik Systems to initiate its Initial Public Offering (IPO). The fintech firm submitted its IPO documents to SEBI back in January of this year.
Mobikwik plans to secure ₹700 crore through this IPO, with intentions to allocate ₹250 crore towards expanding its financial services sector. Additionally, ₹135 crore is earmarked for enhancing its payment services operations. The company will invest another ₹135 crore in data analytics, machine learning, artificial intelligence, as well as product and technology advancements. Furthermore, ₹70.28 crore will be directed towards capital expenditures for payment devices and other general corporate needs.
Founded by Bipin Preet Singh and Upasana Taku, One Mobikwik Systems operates a platform designed to facilitate a dual payment network catering to both consumers and merchants. Its mission is to promote financial inclusion for underserved segments of the Indian population. The company offers a diverse array of payment solutions, including online checkout services, Merchant Cash, Advance MobiKwik Vibe (Soundbox), MobiKwik EDC Machine, and Kwik QR scan and pay functionalities.
Apptile, a no-code mobile app development platform, has raised $1.2 million in a funding round led by Singularity Early Opportunities Fund, with participation from Crown Trust and DeVC. This brings its total funding to $3.7 million, highlighting strong interest in simplifying mobile app creation for businesses of all sizes.
The new funds will help Apptile advance its goal of making mobile app development more accessible by eliminating the need for coding expertise. Using an intuitive drag-and-drop interface, users can create fully customized mobile applications, making it particularly beneficial for small to medium-sized enterprises and startups.
Apptile aims to expand its product offerings, focusing on sectors like e-commerce and direct-to-consumer brands, which have already begun adopting the platform. Founded in 2023 by Rohit Modi, Samyam Annappa, and Vishal Sood, the platform has enabled over 300 brands to launch their apps and recently introduced a live commerce solution for enhanced customer engagement.
By fostering a community of creators who can utilize technology without coding, Apptile is positioned to lead in the no-code development space, making app creation accessible for all businesses.
Centricity, a rising player in tech-driven wealth management, has successfully secured $20 million in seed funding. The financing round was spearheaded by Lightspeed, with contributions from Paramark VC, the Burman Family Office, Shantanu Agarwal, and several distinguished angel investors, including MS Dhoni’s family office.
This funding round values Centricity at $125 million and will be used to scale its two main platforms: Invictus and One Digital. The company intends to expand its technology development team, increasing its workforce from 75 to over 150 employees, with a focus on advancements in generative AI, insure-tech, and broking-tech. Centricity is also looking to broaden its service offerings in private banking and is strategizing for potential acquisitions to foster growth. The investment will enhance the company’s technological infrastructure and boost its market presence.
Centricity’s platforms aim to streamline financial portfolio management and enhance accessibility for financial advisors and clients, particularly in tier 2 and tier 3 cities. This strategy aligns with the company’s mission to democratize wealth management throughout India.
Swiggy has gained approval from the Securities and Exchange Board of India (SEBI) to proceed with its initial public offering (IPO), which is slated for launch in November. The food delivery service had submitted its offer documents in April 2023 using the confidential pre-filing method, keeping details under wraps until the public offering is ready.
Reports indicate that Swiggy plans to raise ₹11,000 crore through the IPO, with a fresh issue accounting for ₹5,000 crore. As of August 2023, the company holds a valuation of $9.3 billion and is backed by prominent investors, including Prosus, SoftBank, and Accel.
Before the IPO goes live, Swiggy must present its updated draft red herring prospectus (UDRHP) for a public comment period lasting 21 days. This process allows potential investors and stakeholders to review the information and provide feedback before the company finalizes its offering.
By taking this step, Swiggy will become the second food delivery platform to be listed on Indian stock exchanges, following Zomato. The confidential filing route, introduced in 2022, has also been employed by companies such as Oyo and Tata Play, which have yet to complete their own IPO processes.
Established at Harvard, Jhana.ai is currently beta testing its AI legal assistants with lawyers, law firms, and in-house legal teams throughout the country. The funds raised will be directed towards the creation of proprietary datasets and the development of AI models, alongside recruiting experts in both law and artificial intelligence.
The startup indicated that an additional portion of the funding related to India is nearing closure and will be announced shortly. This funding comes at a critical juncture for India’s legal system, which is grappling with an overwhelming backlog of nearly 5 crore pending cases. By integrating AI into legal services, Jhana.ai aims to enhance accessibility and efficiency within the sector.
“I aspire to create technology that democratizes access to justice, intelligence, and strategic resources for those who rely on our legal system,” stated Em McGlone, co-founder of Jhana.ai.
This funding round is particularly significant given the recent downturn in investment for AI startups in India, which reported only $8.2 million in the April-June quarter—an 82% decline compared to the previous year—while the U.S. attracted a staggering $27 billion in the same timeframe.
Earlier this year, it was reported that Krutrim AI, another prominent AI startup in India, raised $50 million in a funding round led by Matrix Partners India, achieving a valuation of $1 billion.
First Coffee, a grab-and-go specialty coffee brand, has raised $1.2 million in a funding round spearheaded by venture fund Beenext, which focuses on South Asia and India. Several notable investors also participated, including Ashish Gupta (Helion Venture Partners), AngelList India, Ritesh Malik (Innov8), Sahil Malik (Da Milano), Aman Arora (Keventers), and Agastya Dalmia (Keventers).
The funds will be used to expand First Coffee’s presence across key urban areas in New Delhi, NCR, and tier-I cities in northern India. The company also plans to invest in hiring and marketing initiatives to drive growth.
“We’re proud to introduce specialty coffee scoring 91% on the Specialty Coffee Association (SCA) scale to the Indian market. At First Coffee, we’re not just offering coffee but creating a premium experience tailored to our customers’ fast-paced lives,” said co-founder Shiv Dhawan.
Founded in 2024 by Dhawan and Sohrab Sitaram, First Coffee sources its beans from the Harley Coffee Estate in Chikmagalur. The brand is set to focus on small-format quick-service restaurants (QSR) in high-traffic areas like malls, corporate parks, high streets, and metro stations, with plans to launch 35 stores nationwide by the second quarter of the next fiscal year.
Anirudh Garg, partner at Beenext, commented, “First Coffee is not just selling a product but delivering a coffee experience, blending technology, sustainability, and quality coffee.”
This announcement comes as the specialty coffee market in India sees increasing interest from investors. In March, AbCoffee raised $3.4 million in Series A funding, while Subko, a coffee roaster and craft bakehouse, raised $10 million led by Zerodha’s Nikhil Kamath. Other players in the space include Slay Coffee, Sleepy Owl, Hatti Kaapi, Blue Tokai, and Rage Coffee.
DailyObjects, a direct-to-consumer (D2C) design and lifestyle brand, has successfully raised $10 million (approximately ₹83 crore) in a funding round led by 360 One Asset, previously known as IIFL Asset Management. This round also saw participation from existing investor Roots Ventures.
The capital will be allocated towards expanding the distribution network, enhancing product innovation, increasing the workforce, and boosting manufacturing capabilities.
“Design has always been at the heart of DailyObjects. As we expand, we’re eager to introduce new product innovations to the market. This funding enables us to broaden our product offerings with a stronger emphasis on design and innovation,” stated Pankaj Garg, co-founder and CEO.
Established in 2012 by Garg and Saurav Adlakha, the Gurugram-based brand provides premium, functional, and high-utility everyday items. Its diverse product lineup includes tech accessories, wireless chargers, bags, and desk essentials, all crafted from durable materials with a focus on homegrown craftsmanship to meet the needs and aspirations of modern consumers.
“We are poised for significant growth, with plans to expand our manufacturing capabilities and increase inventory in line with business demands,” added Adlakha.
For its offline expansion, DailyObjects will concentrate on innovative, curated, and experiential retail concepts. The brand opened its first physical store in December of last year and had previously raised $2 million from early-stage venture capital firm Roots Ventures.
Karan Ahuja, fund manager at 360 One Asset, remarked, “The company has rapidly scaled up through a capital-efficient model, and 360 One Asset is excited to support the next phase of its journey.”
Rapido, a leading mobility startup, has successfully secured $200 million in a funding round spearheaded by WestBridge Capital, solidifying its position among India’s unicorn startups with a new valuation of $1.1 billion.
The Bengaluru-based company, which originally began as a two-wheeler bike-taxi service, has expanded into new sectors, including three-wheeler and four-wheeler ride-sharing. Co-founder and CEO, Aravind Sanka, stated that this capital injection would fuel the company’s expansion into hyperlocal and quick commerce deliveries. He also highlighted Rapido’s ambitious plans to further penetrate the four-wheeler market.
Rapido’s daily operations have now reached a staggering 2.3-2.5 million orders, with approximately 7% of those coming from B2B services, including food deliveries for Swiggy during non-peak hours for bike-taxis. The company has also joined hands with the Open Network for Digital Commerce (ONDC) to provide logistics solutions.
Over the last year, Rapido’s growth trajectory has been exponential, with the company experiencing a significant rise in its gross merchandise value (GMV) driven by diversification into autos and cabs across 100+ cities. In fact, auto-rickshaw bookings now contribute around 40% to the GMV, followed by bike-taxis and cabs, each contributing 30%.
Amidst growing competition from industry giants like Uber, Ola, and the emerging Namma Yatri, Rapido remains focused on its expansion strategy. The company is particularly keen on bolstering its four-wheeler cab services through a unique subscription model that ensures fair earnings for its driver partners by eliminating commission-based fees.
Additionally, Rapido is eyeing the rapidly growing quick-commerce sector. With a fleet of over 600,000 active two-wheeler riders, the company is exploring partnerships to enhance delivery times for ecommerce and quick commerce firms.
According to Sanka, the quick commerce industry in India is poised for exponential growth, and Rapido aims to leverage its extensive rider base to carve a niche in this sector.
The $200 million funding will not only propel Rapido’s ambitious expansion plans but also bolster its ability to compete with both established and emerging players in India’s highly competitive mobility and logistics space.
