Google-backed edtech company Adda247 has launched its first employee stock ownership plan (ESOP) buyback for over 130 employees, averaging 40 times the initial purchase price. This move comes as the company prepares for an IPO in 2026. Recently, Adda247 acquired CA test prep platform Ekagrata Eduserv.
Nazara Technologies has acquired an additional 48.42% stake in Paper Boat Apps (PBA) for Rs 300 crore, now owning 100% of the company. Paper Boat Apps, founded by PR Rajendran, R Kalpana, and PR Jayashree, develops the children’s learning app Kiddopia. Most of Kiddopia’s revenue comes from the US.
Wealthtech startup Stable Money raised Rs 123 crore ($15 million) from RTP Capital, Lightspeed India, and Matrix Partners, becoming one of the few startups to close two funding rounds within a year. The Bengaluru-based company, founded in late 2022, focuses on fixed-return investments and financial literacy.
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.
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.
