The Tech Panda takes a look at recent funding events in the tech ecosystem, seeking to know where the cash is flowing.
Startup: IOC GPS Renewables Private Limited
Sector: Cleantech
Amount: US$95 M
Led by: Indian Bank
IOC GPS Renewables Private Limited (IGRPL), a joint venture between IndianOil Corporation Ltd. (IndianOil) and GPS Renewables, focused on advancing India’s biofuels sector, has raised INR 836 crore (approximately US$95 million) in debt financing from Indian Bank for the execution of 9 Compressed Biogas Projects across the country. This funding is the largest single-bank debt raise in the Compressed Biogas sector (CBG) (also referred to as Renewable Natural Gas or RNG). This is also the first case of a fully non-recourse debt raise in this sector.
Devendra Singh Sehgal, CEO, IGRPL (IOC and GPS Renewables Private Limited), said, “IGRPL was formed with an aim to scale India’s biogas infrastructure and drive wider adoption. This funding gives us the momentum to accelerate that mission. This is the first time that an OMC Joint Venture has secured a sanctioned loan for CBG projects without any corporate collateral, indicating IOCL’s strong credibility and the sector’s massive potential. This not only builds confidence among stakeholders but also encourages more large-scale investments in India’s clean energy sector”.
The funds will be used towards development of CBG plants across India, with 4 projects in Haryana, 3 in Uttar Pradesh, 1 in Chhattisgarh and 1 in Andhra Pradesh. Each plant has a capacity to produce 15 tonnes of CBG per day and will use paddy straw as the primary feedstock. All 9 plants are expected to be completed and commissioned in 2026.
Startup: Petpooja
Sector: Restaurant tech
Amount: INR 137 cr
Led by: Dharana Capital
Dharana Capital, an India-focused growth-stage investment firm, led an INR 137 crores funding round in Petpooja, India’s largest cloud-based SaaS platform for restaurants. The funding round, a mix of primary and secondary capital, also saw participation from Ashish Gupta, co-founder of Helion Ventures; Abhiraj Singh Bhal, Varun Khaitan, Raghav Chandra, founders of Urban Company; and Mukund Kulashekaran, Chief Business Officer at Urban Company.
Vamsi Duvvuri, Founder and Managing Partner, Dharana Capital said, “As India’s food service ecosystem undergoes rapid digitization, Petpooja has emerged as the core technology backbone for restaurants. Their resilience and customer-first approach has set them apart, and we look forward to supporting them in this next chapter of growth.”
The fresh capital will be utilised to enhance Petpooja’s product portfolio, accelerate AI-driven automation, and bolster customer support.
Startup: EyeROV
Sector: Robotics
Amount: INR47 Cr
Led by: Indian Navy
EyeROV, Indian underwater robotics startup, has announced the signing of a landmark INR47 Cr contract with the Indian Navy for advanced Underwater Remotely Operated Vehicles (UWROVs). The deal strengthens India’s naval capability with field-tested, indigenously built technology.
Johns T. Mathai, Co-Founder & CEO, EyeROV, said, “This recognition is a true reward for our dedicated efforts over the past eight years. We sincerely thank the iDEX and Navy teams for their support in fostering advanced indigenous solutions. Our vision has always been to serve the nation by delivering technologies that are at par with global standards.”
Startup: Emergent
Sector: Agentic vibe-coding
Amount: US$23 M
Led by: Lightspeed
Emergent, the agentic vibe-coding platform announced $23 million in Series A funding led by Lightspeed, with participation from Together Fund, Y Combinator, Prosus Ventures, and leading angels including Jeff Dean, Devendra Chaplot, and Balaji Srinivasan. This brings Emergent’s total funding to $30 million, including a $7 million seed round backed by Y Combinator and Together Fund. Funds will be utilized to grow the team, deepen investments in research and to grow the platform.
“My brother and I built Emergent to equip anyone with an idea and a phone to create software affordably,” shared Mukund Jha, co-founder and CEO. “Emergent addresses the technical friction of starting or growing a business. Now anyone from small business owners and aspiring founders to creators can now bring their vision to life, no matter how complex, at a fraction of the time and cost. As the only vibe coding platform that enables users to build highly customizable, production-ready apps, our platform unlocks new possibilities for everyone – not just software engineers.”
Startup: Xbattery
Sector: Deep-tech
Amount: US$2.3 M
Led by: Bipin Patel Family Office
Xbattery, a Hyderabad-based deep-tech startup developing next-generation Battery Management Systems (BMS), has raised USD 2.3 Million in its Seed funding led by Bipin Patel Family Office with participation from Jhaveri Credits. The funding will support R&D, hardware sourcing, talent hiring, and scaling prototypes for early orders and commercialization.
“Self-reliance in battery electronics is critical for India, and the market is bigger than people think,” said Satish Reddy, Founder and CEO of Xbattery. “We are thrilled to have found partners who share our vision. Because this is deeptech, it requires serious investment in R&D. This funding is going to help us bring our tech to market so we can start fulfilling our initial orders.”
Startup: Zealthix
Sector: Healthtech
Amount: US$1.1 M
Led by: Unicorn India Ventures
Zealthix, a comprehensive SaaS based Healthcare platform has raised US$1.1 M in a seed round led by Unicorn India Ventures with participation from AlphaGen Venture Capital. Funds raised will be used for expansion and revenue growth. Additionally, a sizable portion will also be invested in making technology more robust and achieving the mission of making the Indian Healthcare ecosystem more digitized, streamlined and interoperable.
Anil Joshi, Managing Partner, Unicorn India Ventures, says, “Advances in cloud computing have massively changed the technological landscape of businesses. India’s healthcare SaaS sector has entered a golden phase of adoption, showing promising ability to offer quality and timely services. What we are witnessing is not just digitization but a creation of a robust scalable healthcare ecosystem which will redefine how healthcare services are offered. The company has witnessed progress in the last 12 months and has designed new technology solutions. Hence, we believe the market opportunity is huge and the company has built the right momentum to capitalise on this segment.”
Startup: Chakr Innovation
Sector: Deeptech
Amount: US$23 M
Led by: Iron Pillar
Chakr Innovation, a deep-tech start-up specializing in material science, has raised US$23 M (INR 193.5 crore) in its Series C funding round, led by Iron Pillar. The company’s existing investor base includes SBI Cap Ventures, ONGC, IAN, and Inflexor from previous rounds. Ambit Private Limited has been a valued strategic partner to Chakr Innovation, acting as an exclusive financial advisor on the successful Series C fundraise.
The newly raised capital will primarily be used to expand manufacturing capacity, accelerate international growth, and backward integration. The funds will also enable Chakr Innovation to further invest in R&D to develop advanced technologies within the clean-tech space.
Kushagra Srivastava, Founder & CEO of Chakr Innovation, said, “This funding is a major step toward realizing our vision of building world-class material science technologies from India. With these resources, we will expand globally, strengthen our R&D capabilities, and establish the country’s first dedicated materials science center focused on critical materials. Our focus remains on enabling industries to operate sustainably while supporting the Prime Minister’s Atma Nirbhar Bharat vision.”
Startup: Carbon Masters India Pvt Ltd
Sector: Climate-tech
Amount: Undisclosed
Led by: Schneider Electric Energy Access Asia (SEEAA), Sangam Ventures & IAN Group
Carbon Masters India Pvt Ltd (CMIPL), a climate-tech venture pioneering circular economy solutions, has raised an undisclosed amount in a fresh round of equity funding led by Schneider Electric Energy Access Asia (SEEAA), Sangam Ventures, and IAN Group. The round also saw participation from Sriram Sankaran, Managing Director of Synchron Group, and Muthu Murugappan, CEO of Murugappa Group.
“We are proud to support Carbon Masters in its mission to decarbonize critical sectors of the Indian economy. Investing in scalable clean energy infrastructure and sustainable agriculture solutions is vital to building a resilient and inclusive low-carbon future.”, Gilles Vermot Desroches, SVP, Corporate Citizenship, Schneider Electric & President, SEEAA.
Startup: Raptee.HV
Sector: EV
Amount: Undisclosed
Led by: Department of Science & Technology (GoI)
Raptee.HV, the Chennai-based electric motorcycle startup pioneering the use of electric car’s high-voltage (HV) technology in two-wheelers, has announced that it has secured strategic funding from the Technology Development Board (TDB), Department of Science & Technology, Government of India. This milestone makes Raptee.HV the First Electric Vehicle Motorcycle OEM in the country to receive financial support from TDB.
The fresh funding will enable Raptee.HV to further advance its proprietary high-voltage technology and accelerate its efforts to capitalize on the USD 1 billion performance electric motorcycle category.
“This support from the Technology Development Board is a strong endorsement of Raptee.HV’s mission to redefine performance electric mobility, from India, for the world. In the absence of an ecosystem for high-voltage motorcycle architecture, we built our own through uncompromising engineering. Earlier, we also received a grant from the Ministry of Heavy Industries through ARAI-AMTIF, and now from TDB, both clear signals of the Government of India’s focus on supporting indigenous technological innovation. The trust placed in us by TDB and ARAI-AMTIF strengthens our resolve to push the boundaries of performance-driven motorcycle electrification in India” said Dinesh Arjun, CEO & Co-Founder, Raptee.HV.
Startup: uKnowva
Sector: HR Tech
Amount: US$ 0.5 M
Led by: Parv Network, Growth 91 & Aapna Infotech
uKnowva, a fast-growing HR Tech and Human Capital Management (HCM) platform, today announced the successful completion of its Pre-Series A funding round, raising US$ 0.5 M from Parv Network, Growth 91, and Aapna Infotech. This milestone marks the company’s first institutional capital raise after years of building and scaling profitably as a bootstrapped venture. The participating investors recognized uKnowva’s strength in the 4Ps – product, profitability, people, and past performanceas the foundation for its sustained growth and competitiveness in a highly challenging HR Tech space.
Vicky Jain, Co-Founder & CEO, uKnowva, said, “Securing this Pre-Series A funding is a proud milestone for us, especially because it comes from our customers and well-wishers who deeply believe in our vision. Having been bootstrapped till date, we have scaled the company conservatively while ensuring profitability. This investment now allows us to take bigger and bolder bets that can fuel our growth in new directions. Our aim is to spend this money wisely, keeping product excellence and profitability at the very core of our growth strategy, while continuing to deliver an intelligent, seamless experience to our customers.”
