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EquityPandit

EquityPandit
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Epic Games Bags $2 Billion Funding From Sony, Lego

Epic Games announced that it had raised $2 billion from Sony Group and Lego Group, which valued the company at $32 billion. Epic also said that Sony and Lego each contributed $1 billion to help assist a metaverse partnership it had entered earlier this month with the Lego Group.


The term “metaverse” is the newest buzzword in the technology world. It refers to a shared virtual platform that people can access via different devices and navigate around the digital environments. Fortnite is already considered a part of the metaverse, and Sony’s investment in Epic will allow it to explore deeper and capitalize on that business.

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Aerem Secures Rs 100 Crore Through Series A 

Ali Waghbakriwala

Aerem, a startup focused on solar project financing, has raised Rs 100 crore (approximately $12 million) in a Series A funding round led by Japan’s University of Tokyo Edge Capital Partners.

The round also saw participation from British International Investment, SE Ventures, Riverwalk Holdings, and existing investors Blume Ventures and Avaana Capital. Additionally, Aerem secured debt funding from financial institutions such as IDFC, AU Small Finance Bank, Axis Bank, Northern Arc, MAS Financials, and Vivriti Capital.

The company plans to use the fresh capital to strengthen its presence in current markets, expand its lending offerings, and enhance its technology infrastructure for its solar marketplace.

Founded in 2021 by Anand Jain and Vikesh Agrawal, Mumbai-based Aerem offers loans for solar panel installations to both businesses and homeowners. Through its NBFC arm, NetZero Finance, the startup also provides supply chain financing to solar equipment and EPC (engineering, procurement, and construction) companies. Aerem operates a B2B platform called SunStore, which helps customers access solar equipment at competitive prices.

This latest funding round follows a $5 million Pre-Series A investment led by Avaana Capital nearly two years ago.

According to filings with the Registrar of Companies (RoC), Aerem’s consolidated operating revenue surged 9X to Rs 175 crore in FY24 from Rs 1.84 crore the previous year. Its net profit also rose by 26% to Rs 3.57 crore, up from Rs 2.82 crore in FY23.

India’s solar sector has been gaining momentum thanks to various government-backed initiatives like the Solar Park Scheme, Grid Connected Solar Rooftop Scheme, and Bundling Scheme. As of 2023, India ranked fifth globally in terms of solar capacity, with 70.10 GW installed.

The solar energy market in India is projected to grow to $50.4 billion by 2031, expanding at a CAGR of 22%. However, despite this growth and strong policy support, investor sentiment in the Indian cleantech space has been cautious. Total investments in the sector dipped by nearly 4% to $829 million in 2024, compared to $861 million in 2023. Over the last two years, overall funding in cleantech has dropped nearly 25% from its $1.1 billion peak.

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Scapia Secures $40 Million Funding in Series B Round 

Ali Waghbakriwala

Scapia, the travel credit card company created by Anil Goteti, Flipkart’s former senior vice president, has secured $40 million in a Series B round led by Peak XV Partners. The current investors who participated in the round included Elevation Capital, Z47, and 3STATE Capital, according to the firm’s announcement on April 3.

Goteti said that the funds would be used to expand the staff, boost product offerings, and integrate AI-driven solutions. 

Anil Goteti said, “We are going to invest a lot in product development. We are going to invest a lot in AI as well. A lot of companies are experimenting and exploring with AI. We have a bunch of ideas that we are going to try out as well and see how that plays out for customers.”

Scapia is also willing to acquire companies that provide synergy.

Scapia was introduced in June 2023 and has its headquarters in Bengaluru. It offers consumers a co-branded credit card and an app to assist them in turning their everyday costs into benefits. These benefits are converted into Scapia tokens, which can be used to book hotels and flights online.

Scapia’s co-branded card has no joining or yearly fees, and users can enjoy a zero-forex markup and unrestricted domestic lounge access for minimum monthly expenditure.

Scapia offers a co-branded credit card in partnership with Federal Bank and is looking to grow its banking network.

Investors see a significant opportunity in the travel fintech sector, as Gen Z and millennials already account for half of all credit card issuances in India.

Scapia is well-positioned to capture a significant portion of this expanding market, according to Tejeshwi Sharma, managing director of Peak XV.

Scapia raised $9 million in its initial investment round, which was headed by Matrix Partners, in June 2023. The company raised $23 million in a Series A fundraising round in November of that year, with Elevation Capital and Binny Bansal’s fund 3State Ventures leading the deal.

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Isomorphic Labs Secures $600 Million in Funding

Ali Waghbakriwala

Isomorphic Labs, an AI-driven drug discovery startup, has raised $600 million in its first-ever external funding round, led by Thrive Capital, the company announced on Monday.

With tech giants increasingly integrating AI-powered solutions into their products, startups specializing in generative AI and machine learning continue to attract strong investor interest.

Founded in 2021 as a spin-off from Alphabet’s AI research arm, Google DeepMind (acquired in 2014), Isomorphic Labs has made significant strides in AI-powered drug discovery. Last May, it introduced the third major version of its Nobel Prize-winning AlphaFold model, which accurately predicts almost all known protein structures.

The London-based startup plans to utilize the newly raised capital to accelerate R&D efforts and expand its talent pool.

CEO and Founder Demis Hassabis, who also heads DeepMind, hinted in January that AI-designed drugs developed by Isomorphic Labs could enter clinical trials by late 2025.

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GreenFortune Secures $4.5 Million in Funding 

Ali Waghbakriwala

Hyderabad-based fenestration startup GreenFortune has raised $4.5 million (approximately Rs 39 crore) in a funding round led by Germany-based Foundamental, with participation from Titan Capital Winners Fund, Incubate Fund Asia, and other existing investors.

The fresh funds will be used to expand operations across India, boost production sixfold, and further develop its proprietary tech platform, PartnerGate, into a comprehensive full-stack solution to enhance customer experience.

Previously, GreenFortune secured $1 million in seed funding in July 2023, led by Incubate Fund Asia.

Founded in May 2022 by Dilip Kumar and Pratyusha Kosaraju, GreenFortune is modernizing India’s fragmented windows and doors industry by providing high-quality, climate-adaptive, and affordable fenestration solutions.

Currently operating in 100+ locations, the startup has supplied materials for over 2 million square feet of windows and doors.

Co-founder and CEO Dilip Kumar stated, “This funding reaffirms our investors’ trust in our vision to provide quality solutions to middle-income households at affordable prices.”

GreenFortune plans to diversify its product range beyond traditional windows and doors, incorporating aluminium, steel, and pre-painted steel solutions while investing in R&D and technical services to develop new offerings.

Shubhankar Bhattacharya, co-founder and general partner at Foundamental, highlighted the startup’s focus on scaling manufacturing, improving service quality, and enhancing customer access.

“GreenFortune is executing brilliantly in its mission to become India’s leading fenestration brand. We are proud to lead this Pre-Series A round,” he said.

Titan Capital Winners Fund VP Shiv Kapoor praised the team’s strong supply chain and commitment to quality at competitive prices, stating that GreenFortune is now ready for its next phase of growth.

The company aims to achieve Rs 250 crore ARR within two years, expanding first across South India before scaling nationwide.

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Dozee Secures $8 Mn to Boost Global Expansion

Ali Waghbakriwala

Bengaluru-based health-tech startup Dozee, backed by Prime Venture Partners and 3one4 Capital, has raised Rs 71.5 crore (approximately $8.3 million) through a mix of equity and debt.

According to the startup’s MCA filings, Temasek Trust’s impact-first investment vehicle C3H invested Rs 6.3 crore in equity, while Stockhausen International Pte Ltd provided Rs 58.5 crore as debt. The remaining funds came from undisclosed strategic investors.

The fresh capital will accelerate Dozee’s global expansion and enhance its R&D efforts to improve critical patient care monitoring, a company spokesperson confirmed.

Founded in 2015 by Mudit Dandwate and Gaurav Parchani, Dozee specializes in contactless patient monitoring systems, enabling hospitals to remotely track vital signs such as heart rate, respiration rate, blood pressure, and temperature. The company also offers an early warning system that alerts doctors to potential health deterioration in patients.

Dozee competes with Zyla Health, Fix Health, Zivov, and Cardiac Design Labs in the Indian health-tech space.

The startup last raised $6 million in a Series A2 round in 2023 from 3one4 Capital, Prime Venture Partners, YourNest VC, and the State Bank of India, among others. With this latest round, Dozee’s total funding now nears $20 million.

Facing growth challenges in India, Dozee has expanded to the US, UAE, and Africa and is actively exploring new international markets while broadening its product portfolio.

The company is also hiring across multiple departments, including data science, product, and marketing, as it aims to achieve profitability in India. However, last year, Dozee laid off around 40 employees to reduce losses.

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