Social learning platform Bluelearn announced its closure due to challenges in scaling. The three-year-old Bengaluru startup will return 70% of its raised capital, nearly $4 million, to investors including Elevation Capital and Lightspeed. Co-founder Harish Uthayakumar cited difficulties in building a venture-scale business as the reason for the shutdown.
HR technology platform Umwelt.AI secured $125K in a seed funding round led by Upekkha. The funds will support global expansion and enhance its people analytics and employee experience solutions. Launched in 2023, Umwelt.AI helps organizations improve employee engagement and retention using behavioral science, chatbot technology, and advanced analytics.
Workspace solution provider Incuspaze raised $8 million in its first funding round, led by India Inflection Opportunity Fund (IIOF) and other institutions. The funds will enhance its workspace solutions for enterprises, MSMEs, and startups. Incuspaze, led by Sanjay Choudhary, manages 3 million square feet across 18 cities and plans expansion in southern India.
Last week, 22 early and growth-stage startups raised a total of $116.26 million. Growth-stage deals saw $168.63 million raised by nine startups, with Urban Company leading at $38 million. Early-stage startups secured $92.58 million, led by Newme. Bengaluru-based startups dominated with 12 deals.
Bengaluru-based drone business intelligence provider Aereo secured $15 million in Series B funding led by 360 ONE Asset, with StartupXseed Ventures and Navam Capital participating. Co-founded by Vipul Singh and Suhas Banshiwala, Aereo serv industries like mining and infrastructure, enhancing productivity and safety.
SaaS startup Bitscale raised its maiden funding round led by India Quotient’s First Cheque, with participation from Point One Capital, CRED’s Kunal Shah, and others. Launched by Sanket Goyal, Abhinay Kumar, and Yash Sharma, Bitscale aims to enhance its product and team, automating workflows for sales and marketing professionals.
BlackSoil NBFC raised Rs 208 crore in debt from HNIs, UHNIs, Family Offices, banks, and NBFCs. With 60% from new investors, total debt reached over Rs 1,570 crore. Founded by Mohinder Pal Bansal and Ankur Bansal, BlackSoil offers customized credit solutions and maintains a diversified portfolio across multiple sectors.
Commercial drone solutions startup Aereo raised $15 million in a Series B round led by 360 ONE Asset, with participation from existing investors. The funds will expand aerial intelligence solutions for capital asset management. Co-founded by Vipul Singh and Suhas Banshiwala, Aereo serves high-tech, aerospace, maritime, and defense sectors.
Consumer lending and payments startup Slice raised Rs 65 crore ($8 million) in debt from Neo Markets, its second debt investment this year. The Bengaluru-based company, founded by Rajan Bajaj, has raised $340 million to date, offering cards focused on millennials and expanding financial accessibility.
Fintech firm Paytm’s revenue from operations dropped 33.8% to Rs 1,501.6 crore in Q1 FY25 compared to Q4 FY24. The company’s overall revenue reached Rs 1,639.1 crore, including interest and gains from financial assets. Paytm’s expenses fell 8%, but losses increased 52.6% to Rs 840 crore.
