Rural fintech startup Jai Kisan has acquired an NBFC license through its strategic acquisition of Kushal Finnovation Capital. This license enabl Jai Kisan to offer customized credit products and co-lend with financial institution supporting over 100,000 rural businesses and facilitating over Rs 6,000 crore in disbursals.
Healthcare startup 4baseCare raised $6 million in a Series A round led by Yali Capital. The funds will enhance product offerings and support expansion across India, Asia, and the Middle East. Founded in 2018, 4baseCare provides precision oncology solutions using genomics, impacting over 10,000 cancer patients in Southeast Asia.
Wealthtech startup Infinyte.Club secured $3.6 million in a funding round led by Elevation Capital, with participation from prominent angel investors like Cred’s Kunal Shah and Meesho’s Vidit Aatrey. Founded in 2023, the Bengaluru-based platform focuses on wealth creation for tech employees, offering private investment opportunities and ESOP liquidity solutions.
E-mobility startup Kazam raised $8 million in a Series A3 funding round led by Vertex Ventures. The funds will enhance Kazam’s technology, expand its market presence, and improve platform offerings. Kazam, co-founded in 2020, builds smart EV charging networks and currently serves over 25,000 charging points across India.
Wealth and asset management firm Neo secured Rs 400 crore ($48 million) in a Series B round led by MUFG Bank and Euclidean Capital, with Peak XV Partners participating. The funds will expand Neo’s wealth management division and support its asset management business. Neo manages Rs 35,000 crore in assets.
Oyo secured Rs 1,457 crore ($175 million) in a Series G round from investors including InCred Wealth, Patient Capital, and ASK Financial Holdings. Despite the investment, Oyo’s valuation remains at $2.38 billion, down 70% from 2021. The funds will support growth, global expansion, and acquisitions.
NuvoRetail, an e-commerce marketing and analytics company, has secured $350k in funding to develop its AI-ML driven platform, Enlytical.ai. The funds will support bid automation, insights, reporting, and global expansion. Launched in 2017, Enlytical.ai helps brands manage multiple e-commerce KPIs and optimize media spend for higher ROI.
Bengaluru-based used two-wheeler retailer BeepKart has laid off more than 100 employees, affecting over 20% of its workforce across various departments. The layoffs began shortly after the company’s April 2023 funding round, reportedly as part of a move to focus on profitability. BeepKart declined to comment.
Nazara Technologies has acquired UK gaming studio Fusebox Games for Rs 228 crore ($27.2 million) in an all-cash deal. Fusebox, known for its interactive story game “Love Island,” reported strong growth in 2024 with Rs 116.6 crore ($13.9 million) in revenues. The acquisition aligns with Nazara’s broader M&A strategy, following recent investments in Circle of Games and Paper Boat Apps.
BiofuelCircle, a biomass and biofuel marketplace, has raised Rs 45 crore ($5.3 million) in a funding round led by Spectrum Impact. The Pune-based company will use the funds to enhance its organized supply chain for biomass, connecting farmers, storage facilities, and refineries. Despite growing its revenue fivefold to Rs 11 crore in FY23, BiofuelCircle’s losses also increased by 80% to Rs 6.8 crore.
