The Tech Panda takes a look at recent funding events in the tech ecosystem, seeking to know where the cash is flowing.
Startup: Emiza
Sector: 3PL
Amount: INR100 Cr
Led by: Evolvence India and Mirabilis Investment Trust
Emiza, the country’s leading Made-in-India Third-Party Logistics (3PL) provider for consumer and retail brands, announced the successful closure of its INR100 Cr Series C funding round at a valuation of INR400 crore. Led by Evolvence India and Mirabilis Investment Trust, this round comprises a mix of primary and secondary investments, enabling exits for some early investors.
Building on this momentum, Emiza is strategically positioned to capitalise on its extensive network of warehouses spanning 11+ cities and managing over 50 lakh+ cu. feet of space. The newly infused funds will be utilised to drive innovation, with a focus on enhancing warehouse technology, increasing automation, and expanding its footprint with new facilities. By strengthening its management team and introducing services tailored to the evolving needs of consumer and retail brands, Emiza aims to deliver comprehensive end-to-end fulfilment solutions, catering seamlessly to both online and offline platforms.
Ajay Rao, Founder of Emiza, stated, “This Series C funding is a testament to the trust our investors place in Emiza’s vision and capabilities. We have always aimed to bridge the logistics gap for brands by offering solutions that are agile, tech-driven, and tailored to their needs. With this funding, we are poised to accelerate our mission of empowering consumer and retail brands, ensuring seamless operations across the supply chain while helping them focus on what they do best: building exceptional products and brands.”
Startup: Whizzo
Sector: Materials science
Amount: US$.2 M
Led by: Lightspeed
Whizzo, a materials science manufacturing company pioneering innovation in engineered fashion and technical textiles, has raised US$.2 million in seed funding led by Lightspeed, with participation from BEENEXT. The investment will support Whizzo’s efforts to drive advancements in materials science R&D, establish a state-of-the-art design lab for fashion-engineered textiles, and strengthen its supply chain infrastructure across India, Vietnam, China, Bangladesh, and Indonesia.
Shrestha Kukreja, Founder, Whizzo, said, “Our vision is to establish Whizzo as an IP-driven leader in fashion-engineered and technical textiles. By creating proprietary blends and leveraging a cross-border Contract Development and Manufacturing Organization (CDMO) model, we aim to address critical gaps and transform the textile industry through innovation, sustainability, and global connectivity.”
Startup: shoppin’
Sector: Fashion search engine
Amount: US$1 M
Led by: Info Edge Ventures
shoppin’, a new-age fashion search engine powered by AI, has successfully raised $1 million in pre-seed funding from Info Edge Ventures. The platform is on a mission to make fashion discovery seamless, personalized, and accessible for all, enabling users to discover apparel products using prompts, vibes, product descriptions and images, putting consumer need at the heart of its operations.
The platform has already built an impressive base of over 35,000 Instagram followers and 20,000+ waitlist sign-ups, all in 3 weeks —achieved at 0 marketing spend—highlighting the need for the problem they’re solving and shoppin’s growing popularity among fashion enthusiasts.
The newly acquired funding will be allocated towards three key areas: hiring top talent, enhancing proprietary technology, and fostering growth. A large majority of the funds will be deployed towards building a team of AI engineers, developing, fine-tuning and scaling its advanced AI models, incl. their custom built SLMs and embeddings model, tailored specifically for fashion.
“If OpenAI’s multi-modal and NLP search prowess, Google’s indexing algorithm, and Pinterest’s social DNA were to have a fashion-obsessed baby, it’d be us. For Gen-Zs, over 75% of fashion inspiration discovery happens on Instagram and Pinterest. We started shoppin’ seven months ago with the idea of bridging the gap between inspiration discovery on social platforms and e-commerce discovery on marketplaces and D2C brand websites. Our mission at shoppin’ is to make fashion discovery as seamless and easy as clicking an image. With Info Edge Ventures’ support, we’re committed to innovating further, pushing the boundaries of AI, to help every shopper find what they love effortlessly,” said Shlok Bhartiya, Founder & CEO of shoppin’.
Startup: Mealawe
Sector: Food tech
Amount: US$1 M
Led by: Mix of FDI, a network of Shark Tank founders & angel investors
Mealawe, a food-tech company, has raised $1 million in funding from a mix of Foreign Direct Investment (FDI), a network of Shark Tank founders, and angel investors associated with companies such as Goldman Sachs and Oracle. This funding will drive the company’s expansion into 14 cities over the next 10-12 months, with a target of delivering 1 million meals per month. Currently operational in Pune, Bangalore, Mumbai, and Kota, Mealawe is steadily building a nationwide presence.
Since its launch in October 2022 under Climbing Seeds Pvt Ltd, Mealawe has grown rapidly, delivering over 30,000 meals monthly. The new capital will be used to scale operations by expanding women-led kitchens, strengthening corporate cafeteria solutions, and deepening partnerships for organic ingredient sourcing. The company’s growth trajectory and expansion plans will be underscored with a focus on scaling operations and market expansion.
Rupesh Kumar, Founder of Mealawe, stated: “Our mission is to bridge the gap in daily food access for corporate employees, students, senior citizens, and more. By focusing on organic ingredients, women-led kitchen setups, and innovative corporate solutions, we are building a sustainable ecosystem that benefits both customers and home chefs.”
Startup: Nua
Sector: Women’s wellness & hygiene
Amount: INR 35 crore
Led by: Mirabilis Investment Trust
Women’s wellness and hygiene brand Nua has raised Rs 35 crore in a pre series C round led by Mirabilis Investment Trust. The round also saw participation from distinguished investors including Samir Singh, EVP – Asia, Colgate Palmolive & Former Chair of Unilever SE Asia, Shuchi Kothari, Head of DSP Family Office and SRF Limited. The funds raised will be strategically deployed towards retail expansion and new product introductions across key channels such as marketplaces, quick commerce and offline retail. The Company has raised $21.5 million so far (including the current round) from leading investors including Lightbox VC (One of the earliest backers of Nua), Kae Capital, renowned actress Deepika Padukone and former Global President of Unilever, Vindi Banga.
Ravi Ramachandran, CEO & Co-founder, Nua says, “The past 12 months have been exceptional for Nua. Not only have we turned profitable but we have also grown over 2.5x in revenue. We reached an important milestone by becoming profitable in Q2, crossed Rs. 100 Cr net revenue ARR in Q3 and are now on track to reach Rs. 150 Cr net revenue ARR in the next quarter. The capital raised in the current round will accelerate our journey to achieving the growth milestones we have set for ourselves.”
Startup: MontyCloud Inc.
Sector: AI-powered cloud
Amount: Undisclosed
Led by: S3 Ventures
MontyCloud Inc., an AI-powered cloud operations company, announced the successful completion of its Series A1 funding round, led by S3 Ventures. This round builds upon the company’s initial Series A funding, also led by existing investor Lytical Ventures, with co-investments from Madrona and Raptor Group. The raised capital marks a significant milestone in MontyCloud’s mission to simplify and transform cloud operations for businesses worldwide.
The funds will be strategically deployed to scale operations, accelerate product innovation, and expand MontyCloud’s reach into untapped global markets. As part of this expansion, MontyCloud is also focusing on strengthening its platform with cutting-edge AI-driven automation and insights to deliver even greater value to customers.
“At MontyCloud, we’re committed to pushing the boundaries of cloud operations, and this new investment empowers us to accelerate our growth,” said Walter Rogers, CEO of MontyCloud. “We’re excited to partner with investors who share our vision for revolutionizing the cloud industry. This funding will enable us to innovate faster, extend our global footprint, and continue helping businesses transform their cloud operations into a competitive advantage.”
With this funding, MontyCloud is doubling its engineering and product management team in India, reinforcing the country’s pivotal role in the company’s global strategy. India’s deep technology talent pool will be instrumental in enhancing MontyCloud’s AI-driven cloud automation platform and delivering cutting-edge solutions to customers worldwide.
Startup: Solitario Lab Grown
Sector: Lab grown diamond
Amount: US$ 3.6 M
Led by: IPO funding round
Solitario Lab Grown, a lab grown diamond brand offering exclusive lab grown diamond jewellery, raised US$ 3.6 million in a pre-IPO funding round. The funding round attracted notable investors including Neeraj Gupta (Founder of Meru Cabs), Mauritius-based FPI Investi Global, Vicco Group, and Seema Manish Nuwal (Promoter, Solar Industries), along with several ultra-high-net-worth individuals including Amit Agarwal, Rajesh Singla, Garima Theti, and Sandeep Singh. Socradamus Capital Private Limited acted as the Book Running Lead Manager for the round.
The newly raised capital will be used to expand Solitario’s retail network both domestically and internationally, enter new geographical markets, enhance branding and marketing initiatives, broaden its product portfolio, and strengthen its manufacturing capabilities.
Ricky Vasandani, CEO of Solitario said, “This investment validates our vision of creating beautiful, sustainable jewellery that doesn’t compromise our planet’s future. The funds will accelerate our expansion plans and strengthen our position in the growing lab-grown diamond market. Solitario is not only creating jewellery but also crafting a legacy of environmental responsibility and exceptional craftsmanship.”
Startup: Stelmec Limited
Sector: Electrical Power Products
Amount: INR175 crore
Led by: Abakkus Four2Eight Opportunities Fund
Mumbai based Stelmec Limited, a three decade-old name synonymous with Electrical Power Products in India and a trusted partner to various State Owned and Private Power Utilities, has secured INR175 crore from a consortium led by Abakkus Four2Eight Opportunities Fund. The transaction was facilitated, Hem Securities Ltd., who played a pivotal role in structuring and executing the deal.
The funds raised will be utilized to accelerate Stelmec’s expansion plans, enhance R&D capabilities, and strengthen its market presence both domestically and internationally.
“We are thrilled to have Abakkus Four2Eight Opportunities Fund as a partner. This investment is a testament to the hard work and dedication of our team, and it will enable us to scale new heights in our mission to provide top-notch electrical solutions. We look forward to leveraging this partnership to drive growth and create value for our stakeholders. This investment underscores the strength of our business and with the strategic engagement of Hem Securities, we were able to successfully close this deal,” said Hamza Arsiwala, MD of Stelmec Limited.
Startup: ClustroAI
Sector: Edge AI
Amount: US$12 M
Led by: Forum Ventures
ClustroAI, an emerging innovator in edge AI technology, has announced the successful completion of its Series A funding round, securing $12 million to advance AI deployment on local and edge devices. With a total funding amount reaching $15 million, including its earlier seed round backed by NVIDIA, the Series A investment was led by Forum Ventures, with participation from MetaBlast, Metaverse Group, and other prominent investors. This funding will enable ClustroAI to further expand its technology and optimize its core platform, allowing enterprises to seamlessly run AI models on local devices and edge servers—without reliance on cloud computing.
“Our strategic partnership with NVIDIA is redefining edge computing. ClustroAI’s protocol-based architecture not only enables dynamic compute resource scheduling but also transforms every GPU, NPU, and even sensor into an autonomous decision-making node. From industrial machinery to smart terminals, we’re making compute power available on demand,” said Chris, Co-founder of ClustroAI.
Startup: Probus Smart Things
Sector: Smart grid applications
Amount: US$5 M
Led by: Unicorn India Ventures
DeepTech startup Probus Smart Things focused on Smart grid applications has raised $5 million in Series A1 led by Unicorn India Ventures. The round also saw participation from notable US-based and Indian family offices. The current round is a mix of equity and debt financing. Probus has raised over $8 million in funding till date including the current round.
Funds raised will be used for scaling its current communications tech stack into multiple smart grid and renewable applications along with development of existing expertise into AI integration with its patented communications and networking stacks. The Company will also be investing in scaling its innovative dual communications network interface modules for smart metering currently being deployed across various states in India.
Anil Joshi, Managing Partner, Unicorn India Ventures, says, “This is our fourth round of investment in Probus as we believe that the company has emerged as a disruptor in the last mile power distribution ecosystem. With the order book standing at Rs 400 crore, it is clear that their understanding of the problem, their ability to provide a tech-backed solution that can be rolled out at scale and AI integration is now a proven approach. While the current product offerings are ahead of available solutions in the market, the team has not only kept innovating to make themselves relevant to the changing requirement but has been continuously investing in R&D to keep coming out with cost effective innovative solutions. We see Probus as one of the category winning startups from our portfolio.”
