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ReshaMandi Raises $30 million from Creation Investments

ReshaMandi is India’s first silk-tech startup that serves as a B2B marketplace for silk farmers, businesses, and retailers in India; announced a Series A funding round of $30 million, led by global alternative investment manager Creation Investments and other investors.

This round featured a mix of equity and some debt. The equity funding includes new investors such as 9 Unicorns, Venture Catalysts, Sandeep Singhal from Nexus, Brijesh Agarwal, founder of IndiaMART, and Omnivore, which also led the seed round of ReshaMandi. Debt investors include Northern Arc, Alteria, Innoven, and Stride Ventures.

Founded in May 2020, ReshaMandi provides a full-stack digital ecosystem, starting from farm to fashion. The company was founded by Mayank Tiwari, a NIFT gold medalist, Saurabh Agarwal, former Cisco Systems technologist and entrepreneur, and Utkarsh Apoorva, a serial technology entrepreneur from IIT Delhi.

ReshaMandi is currently one of the fastest-growing B2B start-ups in India, witnessing an increase of 30X in revenue in the first year of operation.

“This round of funding will allow us to expand into newer territories and operationalise our R&D work while helping further stakeholders reap the benefits of our innovations and efficiencies,” said Mayank Tiwari, CEO, ReshaMandi. “On a personal note, I would like to thank every one of our customers, suppliers, investors, and of course, the ever-growing ReshaMandi team.”

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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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India’s Tech Startups Secure $2.5 Billion in Q1 2025, Up 8.7% YoY

Ali Waghbakriwala

India’s tech startups raised $2.5 billion in the first quarter of FY25, reflecting a 13.64% increase from the previous quarter and an 8.7% growth compared to Q1 FY24, according to a report released on Monday. With this funding, India remains the third-largest startup investment hub globally, following the United States and the United Kingdom.

Major Funding Highlights

According to the Tracxn Geo Quarterly India Tech Report, out of the total $2.5 billion raised, three startups, including Erisha E Mobility, Darwinbox, and Infra Market, secured over $100 million each, matching the number from the previous quarter.

  • Late-stage startups led funding rounds, attracting $1.8 billion, a jump from $1.3 billion in Q4 FY24.
  • Early-stage startups secured $528 million, while seed-stage startups raised $157 million.

Delhi-based tech firms led the funding landscape, accounting for 40% of the total investments, followed by Bengaluru with 21.64%.

Top Investors

  1. Accel, Blume Ventures, and Peak XV Partners were the most active investors in Q1 FY25.
  2. Venture Catalysts, Unicorn India Ventures, and YourNest dominated seed-stage investments.
  3. Avataar Ventures and Sofina were top late-stage investors, while Accel, Peak XV Partners, and Vertex Ventures led early-stage funding.

Top-Performing Sectors

The report identified auto tech, enterprise applications, and retail as the fastest-growing sectors:

  • Auto tech witnessed a funding surge to $1.1 billion, up from $214.6 million in Q4 FY24.
  • Enterprise applications secured $650.7 million, reflecting a 21.94% rise from the previous quarter.
  • Retail investments increased 21.67% to $481.5 million from $395.8 million in Q4 FY24.

IPOs & Unicorns

Six companies, including Nukleus, Maxvolt Energy, Volercars, and Harshil Agrotech, went public in Q1 FY25. However, no new unicorns emerged this quarter, in contrast to two unicorns formed in Q1 FY24.

Acquisitions

The quarter saw 38 acquisitions, marking a 15.15% increase from the previous quarter and a 40.74% rise compared to Q1 FY24. The largest deal was Magma General’s $516 million acquisition by DS Group and Patanjali Ayurved, surpassing Minimalist’s $350 million acquisition by Hindustan Unilever.

India’s startup ecosystem continues to gain momentum, with increasing investments, sectoral growth, and rising M&A activity reaffirming its position as a key player in the global tech landscape.

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Fractal Invests $20 Mn in AI-Driven Supply Chain Platform Asper.AI

Ali Waghbakriwala

SaaS unicorn Fractal has announced a $20 million (Rs 172 crore) investment in its AI-powered supply chain management platform, Asper.AI.

The funding aims to accelerate product development, expand Asper.AI’s enterprise customer base globally, and drive its next growth phase, Fractal stated.

Asper.AI co-founder and CEO Mohit Agarwal emphasized that the capital will help the platform attract experienced talent and enhance its product offerings.

Launched under Fractal’s umbrella in 2022 by Mohit Agarwal and Anuj Kaushik, Asper.AI utilizes AI to automate decision-making for retail businesses, covering areas such as demand forecasting, revenue growth management, inventory planning, and sales execution.

Fractal co-founder and CEO Pranay Agrawal highlighted Asper.AI’s rapid growth and innovation over the past three years, stating that the investment will unlock new opportunities for enterprise customers and fuel its long-term vision.

Meanwhile, Fractal Analytics, founded in 2000 by Srikanth Velamakanni, Pranay Agrawal, and Ashwath Bhat, provides AI and advanced analytics solutions to Fortune 500 companies. Backed by TPG Capital and Khazanah Nasional, Fractal has raised $685 million to date.

This investment comes as Fractal looks to strengthen its financial position after recording losses in FY 2023-24. The company has also been investing in its product arm amid plans to list on the Indian stock market.

In September 2024, reports suggested that Fractal was preparing to file its Draft Red Herring Prospectus (DRHP) with SEBI for a $500 million IPO, targeting a $3.5 billion valuation. However, no further updates have been shared regarding its IPO timeline.

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