This investment will enable the company’s expansion plans in the green energy domain, focusing on establishing new Compressed Bio-Gas (CBG) plants across the country.

The company plans to utilize this funding to enhance its operations and market presence.  It will accelerate Gruner’s research and development (R&D) initiatives, aiming to enhance biogas production efficiency and explore new avenues such as sustainable aviation fuel (SAF) and green hydrogen. The company also plans to expand its CNG retail outlets and increase its market presence over the next five years.

The company is committed to enhancing its research and development (R&D) efforts as it aims to make substantial contributions toward Prime Minister Narendra Modi’s vision of energy independence and sustainability for India.

Utkarsh Gupta, Founder & CEO, Gruner Renewable Energy said, “Establishing CBG plants in India is crucial for fostering a self-reliant and sustainable future. By promoting clean energy production and reducing dependence on imported compressed natural gas (CNG), we contribute significantly to India’s vision of energy independence. The Union Budget 2023-24 announcement to establish 500 new waste-to-wealth plants under the GOBARdhan initiative has been a major boost for the sector. With 113 functional CBG plants, 667 in development, and 171 under construction, the growth is substantial. These policy enablers promote a circular economy and sustainable development. This investment in Gruner from like-minded partners will be essential for driving this transformation”.

Utkarsh said, “As the Modi 3.0 government has taken charge, the biofuels industry anticipates policy reforms that will facilitate the expansion of new CBG projects nationwide. Biofuels will be essential in helping the country achieve its net zero ambitions. Government subsidies, tax credits, and substantial funding for R&D will be crucial in leveraging the opportunities inherent in CBG projects. This vision aligns with the goal of ‘Viksit Bharat’ (Developed India), where sustainable and self-reliant energy solutions drive economic growth and environmental stewardship”.

According to Utkarsh, encouraging the cultivation of energy crops through direct subsidies and financial incentives for farmers is essential. This approach not only supports the agricultural sector but also ensures a steady supply of feedstock for biogas production. By providing these incentives, the government can promote sustainable farming practices and contribute to the growth of the renewable energy sector. This strategy will help build a self-reliant and sustainable future for India.

A reflection of its commitment towards a cleaner and greener future for India, Gruner Renewable Energy is also establishing Asia’s largest CBG plant in Navsari, Gujarat.

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This fund will be allocated to marketing, sales, technology scaling, R&D, infrastructure and administrative expenses.

The company developing AI-powered solutions that personalize business communication for non-English speakers into both private and government infrastructures. By leveraging advanced Natural language processing (NLP) and Small Language Models (SLM), the company enables businesses to effectively reach customers in their native. Their innovative solutions address the unique linguistic needs of diverse audiences, enhancing communication and engagement.

The company was co-founded by Nakul Kundra and Himanshu Sharma, both of them having 15 years of entrepreneurial experience. Nakul Kundra, who holds an MBA in Marketing & Finance, has a rich background in business strategy and management. Himanshu Sharma, also an MBA in Marketing and a skilled coder, combines technical expertise with business acumen. Together, their diverse skill sets and extensive experience drive the innovative vision and growth of Devnagri.

Mitesh Shah, Co-Founder, Inflection Point Ventures says, “In India, where more than 700 languages are spoken, translating it is a challenging task from the perspective of accuracy, context, and cultural nuances. These issues impact communication, business expansion, and user experience. Devnagri addresses these problems by leveraging AI-powered human translation. The platform ensures precise translations, context-awareness, and localization, enabling seamless communication across diverse Indian languages.” 

Devnagri’s exceptional BLEU scores in Indian languages demonstrate its proficiency in delivering high-quality translations. By expanding its offerings to include GenAI and SLM, the company empowers businesses to create personalized content tailored to specific audiences, driving engagement and customer satisfaction.

The company’s focus on Tier II and Tier III cities is a strategic move to tap into underserved markets. By offering cost-effective, AI-powered language solutions, Devnagri is enabling businesses to expand their reach and build stronger connections with customers across India.

Nakul Kundra, Co-Founder of Devnagri, emphasized the company’s customer-centric approach, stating, “Effective communication is about reaching the receiver. Our focus on hyper-local communication empowers businesses to connect with their audiences in their own language.” He further highlighted the company’s vision of offering private cloud infrastructure to ensure data security and control for enterprise clients.

Devnagri’s achievements have been recognized with prestigious awards, including the TieCon Award 2024, the Graham Bell Award 2023, a feature in the special edition of Shark Tank India 2022, and recognition as NASSCOM’s Emerging NLP Startup of India.

The opportunity market for Devnagri is valued at $100 Billion Globally by 2030 ($53 Billion in India growing at a CAGR of 6.7%) which keeps on growing with the growth of all content rich industries. As the language industry is just getting form in India, it will further create sub industries and will change the way of communication for everyone.

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Appreciate breaks down barriers for investing outside India, from India – removing high remittance fees, hidden charges, and minimum investment amounts. With this app, millions of Indians to invest in the $46 trillion U.S. stock market effortlessly. Investors can now purchase fractions of leading global stocks for as little as Re. 1.

The company was founded by Subho Moulik (CEO), Shlok Srivastav (COO), and Yogesh Kansal (CMO).

Mr. Subho Moulik, Founder and CEO of Appreciate, said, “This is huge savings and returns unlock where millions of people want to take the first step towards financial diversification but have always been deterred by high minimums, high fees, and a poor experience. We have solved bottlenecks others have failed to solve to make investing in U.S. stocks easy and low-cost.  With Appreciate, even a kirana store owner in Vidarbha can open a free U.S. trading account, buy a fraction of any U.S. stock for as little as Re. 1 – and participate in the growth story of these companies.”

He added, “Today, an investor needs to go to their bank, fill out an A2 form, identify and sign-up with a brokerage firm abroad, and then pay anywhere between Rs. 500 to Rs. 1,500 for the wire transfer, on top of dealing with the back and forth with a bank on remittance processing. This has been a key challenge for Indian investors who want to diversify their investments abroad – a challenge that we have worked on diligently and solved.”

Appreciate’s partners include YES Securities – a leading full-service Indian broker – for cost-effective access to Indian securities, and Samhita – a leading social sector financial inclusion and livelihoods accelerator – to promote financial literacy, a key enabling step towards driving mass adoption of regular saving and investing habits.

Appreciate’s user-friendly interface offers personalized investment recommendations and expert insights, supported by an AI-driven recommendation engine. Beyond U.S. stocks, the platform plans to expand its offerings to include Indian mutual funds, stocks, fixed deposits, and other domestic financial products, aiming to become the go-to financial destination for one billion Indians.

Mr. Prashant Kumar, Chairman of YES Securities (India) Limited, said, “Our partnership with Appreciate signifies a landmark moment where 1.4 billion Indians gain the unique opportunity to not only invest but to truly create wealth, now with seamless access to overseas markets. I firmly believe that this collaboration is not just about expanding our scale and distribution; it’s about elevating the standard of service we provide to our customers. Together, we see an exciting journey of innovation and growth that will have a lasting impact for years to come.”

Ms. Priya Naik, Founder and CEO of Samhita said, “Our partnership with Appreciate to drive financial literacy and empowerment using digital learning supplemented by digital saving and investing tools will provide support to women and those sections of society that are beginning their saving and investment journeys.  This is a key step to help 1.4 billion Indians build resilience through a regular saving and investing habit.”

In addition to providing a full suite of savings and investment products for consumers, Appreciate also has a strong B2B technology solution stack across investments, remittances, financial distributor management, cash management, credit sourcing, credit scoring, and Gen-AI applications.  The company works with multiple financial sector customers to embed these B2B technology solutions into B2B customer applications and customer interfaces, enabling B2B customers to achieve their product and customer goals better and faster.

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This significant investment, supported by both existing and new investors, including Chimes Group, Dev Punj, The Chennai Angels, Finvolve, India Accelerator, Hyderabad Angels, Mumbai Angels, Angel List India, and Agiliti Venture, positions the company for significant growth.

The fresh capital infusion will play a pivotal role in Proost Beer’s strategic expansion plans. Operating under the Grano69 Beverages Pvt. Ltd umbrella in Delhi, the startup has already established a strong presence in Delhi, Punjab, Uttar Pradesh, and Kerala retail outlets, where it sells an impressive 9 units of beer every minute.

Vijay P. Sharma, Co-Founder & Managing Director of Proost Beer, said, “The successful conclusion of this funding round empowers us to enhance our production capabilities and venture into new markets. We are highly optimistic about the industry’s growth potential, driven by the increasing consumer appetite for innovative, high-quality products. With this funding, we anticipate achieving a remarkable 300% growth.”

Founded in 2017, Proost Beer is on a mission to capture a substantial 5%+ share of the rapidly expanding Indian Beer Market by the end of this decade. In a constantly evolving beer landscape, Proost has distinguished itself as a player dedicated to revolutionizing the consumer experience with its range of mass premium and affordable beers.

Tarun Bhargava, Co-Founder & CEO of Proost Beer, said, “We are thrilled to see the strong vote of confidence from both our existing and new investors. This endorsement underscores the strength of our business and sets the stage for the next phase of growth for Proost Beer.”

Known for its unwavering commitment to quality and a deep passion for the art of brewing, Proost Beer offers a curated selection of beers, with its flagship product, Proost Strong beer, leading the way. Brewed with precision and care, Proost Beer proudly sources most of its raw materials locally and is proudly 100% made in India.

With this substantial pre-Series A funding, Proost Beer is primed to disrupt the Indian beer market and achieve a dominant position by the end of the decade. Cheers to Proost’s journey towards industry dominance!

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Launched five years ago, eské offers a premium range of handbags, briefcases, and accessories for the global modern consumer in the price range of Rs. 3,000 to Rs. 10,000.

The brand has a strong online presence through its own website and various e-commerce platforms, as well as offline stores in select cities across India. eské plans to use the fresh funds to expand its product portfolio, open experience centres, enhance its technology platform, and enter new markets.

Shivam Khanna, founder and CEO of eské, said – “Humbled to partner with Mistry Ventures this early in our journey. Their long-term approach and patient capital will allow us to build eské into a world-class brand, with robust unit economics. India has long been known as a product exporter and brand importer. We will change that. Leveraging our decades of manufacturing expertise producing for the world’s finest brands, we will unleash our manufacturing capabilities, combining it with technology, to build a globally recognized lifestyle brand from India.”

Zahan Mistry of Mistry Ventures said that they were impressed by eské’s vision and execution. “The product quality of eské stands well above anything we have seen in the market. Their innovative and integrated supply-chain enables them to turn around inventory, and new styles extremely fast. We believe that eské has the potential to become a beloved brand in this space, and we are excited to partner with them in their journey”.

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This significant investment reflects the investors’ confidence in Melooha’s mission and its potential to modernize the field of astrology.

Melooha is a hyper-personalized AI-powered astrology platform that caters to the timeless human desire for guidance. It offers personalized insights based on an individual’s unique birth details, such as their specific birth date, place, and time. Users can also pose personalized questions and receive real-time guidance.

The platform relies on precise mathematical algorithms and incorporates the most accurate planetary data, including insights from NASA. The integration of advanced technologies like artificial intelligence and machine learning has been instrumental in realizing this ambitious vision.

Neeraj Sahejpal, Managing Partner at Streak Ventures LLC, said, “The astro-spiritual market is worth $40 billion, and Melooha’s AI and data-driven insights have the potential to revolutionise the industry, making astrology more accurate and accessible to a broader audience.”

Melooha is the dream project of second-time entrepreneur Vikram Labhe. Astrology based guidance has been a guiding force throughout Vikram’s life, providing valuable insights to navigate life’s challenges and successes. It was this profound influence that inspired the creation of  Melooha.

Vikram Labhe, Founder & CEO, Melooha, said, “We are excited to have the support of our investors, who share our vision of making astrology a valuable tool for personal growth and self-discovery. This funding is a significant step forward that will enable us to accelerate our product development and get the product out in the market sooner.”

Bhalchandra Patil, Co-founder & CTO, Melooha, added, “We are on a mission to make astrology more accessible and relevant to today’s tech-savvy audience. Our team has worked tirelessly to build an AI-driven platform that is not only cutting-edge but also deeply intuitive. We are excited about the possibilities this funding opens up for further innovation and expansion.”

Dr. Vineeta Phatak, Chief Astrologer, Melooha, said, “We are confident that Melooha will redefine the astro-spiritual market with its never-before accuracy and authenticity. I would like to convey my deep gratitude to our investors for believing in and supporting our efforts with the necessary monetary aid.”

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The investment will support the K12’s mission of providing high-quality education and technology services to students and to schools in India by leveraging technology.

Additionally, this investment will facilitate a partial exit for Peak XV Partners (formerly known as Sequoia Capital India).

K12 Techno providing a comprehensive range of education, content, and technology services to over 900 educational institutions throughout India. The company’s brand, content and technology are used by over 300,000 students in the K-12 space in India. The company has grown at a revenue CAGR of ~40% over last 5 years.

Kedaara will work closely with the Company’s professional management team led by its CEO, Mr. Jai Decosta, and other existing shareholders, namely, Peak XV Partners, Navneet Education Limited and Sofina Ventures, to augment its tech-enabled offering oriented towards world-class holistic education services.

Jai Decosta, CEO, K12 Techno Services said, “We are delighted to welcome Kedaara as a valued partner for the next phase of our growth, as it symbolizes a convergence of values and aspirations, and will help us continue to deliver on our mission to make an impact in the K-12 space in India. Our philosophy is to help nurture not just scholars, but also compassionate and capable individuals ready to shape a better world. We believe the congruence of technology with learning models built for India will help scale both holistic learning as well as improve outcomes.”

Sunish Sharma, Founder and Managing Partner and Anant Gupta, Managing Director of Kedaara Capital, said, “Education is the cornerstone of any society’s progress. India has over 260 million students enrolled in the K-12 segment, that aspire for accessible, high-quality holistic education. K12 Techno has done tremendous work to help schools bridge this gap by leveraging technology and process orientation. We are excited to partner with Jai and the K12 Techno team to help them accelerate their growth and further their goal of providing world-class holistic education services across India at affordable price points.”

GV Ravishankar, MD, Peak XV, said, “As long-term shareholders and partners to Jai and team, we’ve had a ring side view of K12 Techno’s journey. Over the last 10 years, they have built a strong platform and tech stack to deliver high quality services to schools and students across the country. With Kedaara coming in, we believe the company will be well-funded and strengthened in its mission to build an enduring business.”

Sunil Gala, Managing Director of Navneet Education said, “Our partnership with K12 Techno has been based on a shared commitment towards promulgating knowledge and high-quality education in India. We have had a fantastic experience working with Jai and team over the last 10+ years. We are delighted to welcome Kedaara as a partner towards realizing this vision and are confident that K12 Techno will continue to create significant value for all the stakeholders in the coming years.”

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The round was led by Surge, Peak XV’s rapid scale-up program, and included participation from Titan Capital and Zetwerk founders.

The new funds will be used to strengthen Boxs’ product offering and expand its manufacturing capabilities.

The remarkable growth for interior design industry in India is projected to reach $38.2 billion by 2027. Despite such growth, many challenges still plague interior designers during the process of taking their design to the building stage.

While there are many existing software solutions that help interior designers create beautiful designs, there is no integrated platform that addresses the crucial stage of bringing these designs to life.

Boxs addresses this industry gap by providing interior designers access to a diverse library of modules, enabling the creation of bespoke designs. The platform’s technology allows for extensive customization of these modules, while an instant pricing engine provides real-time cost insights. Unlike traditional methods, where designers must coordinate intricate construction processes, Boxs delivers fully assembled products. This approach significantly reduces build times and minimizes errors.

Boxs was founded in May 2022 by Satheesh Ramdass and Vikram Venkatesan in Chennai. The duo, who studied together at the College of Engineering, Guindy, brings a wealth of experience from the tech industry. Having faced the challenges of interior design firsthand through their earlier venture Zenterior, they sought to revolutionize the design-to-build phase. Satheesh’s background includes roles at tech giants like Oracle, Microsoft, and Vegrow, while Vikram has led teams at D. E. Shaw, Thoughtworks, and Ally.io.

Vikram Venkatesan, Co-Founder of Boxes, said, “Boxs was started with a simple idea – what if the broken and inefficient build phase could be replaced with a simple IKEA-like experience? For far too long, interior design firms have been stuck with decades-old systems and processes, and spend a disproportionate amount of time managing workers onsite to ensure the final build quality and timelines are met. Even large, established firms struggle to build their designs on time. With the new funds, we will be doubling down on building out our tech and manufacturing capabilities to provide our customers a superior, hassle-free experience, better profit margins and shorter timelines”.

Rachel Hariharan from Beehive Homes Design Studio, said, “Boxs’ high quality, pre-assembled design modules have saved us countless hours of project management. Having to source and speak with various contractors was a time-consuming process that diverted our focus from expanding our creative vision and business growth. With Boxs, much of the design-to-build frustration has been lifted, and we can concentrate on improving our design innovation,”.

Bipin Shah, Partner at Titan Capital, said, “We are really proud to be partnering with Boxs early in their journey given their unique insights into the interior value chain and the team’s capability to apply tech to bring efficiency into the design to build process.”

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This funding was led by Matrix Partners India and Nexus Venture Partners. AdvantEdge and Mars Shot Ventures (Razorpay Founders’ Fund) along with 30 angel investors like Ramakant Sharma (Livspace), Sanjiv Rangrass (ex-ITC), Vikrampati Singhania (JK Group) and the founders of Zetwerk were also parcipated.

The funds will be used to establish the early team, build technology and strengthen presence in the US and UK.

Wootz.work is dedicated to redefining cross-border procurement of light engineering products through a combination of cutting-edge technology and comprehensive process ownership, spanning from initial design to final delivery. Setting itself apart from conventional marketplaces, Wootz.work doesn’t merely facilitate buyer-seller connections; it directly links buyers to tailored products and solutions. By considering key parameters like geography and industry, its technology swiftly tailors products to meet unique buyer needs. Quotations are delivered within 24 hours, compressing a typically lengthy 4-week process.

Over the past three years, the engineering equipment sector valued at $1.7 trillion has undergone remarkable supply chain transformations. Western buyers, in pursuit of value-driven capital expenditure, are increasingly looking at Southeast Asia for their procurement needs. However, they grapple with navigating the vast, fragmented market of nearly a million Small and Medium-sized Enterprise (SME) suppliers. Adding to the complexity, are language barriers, long pre-sales time inherent in custom products and an overall broken buying experience. Wootz.work, through its cross border platform, aims to bridge this gap.

Founded in March 2023, by Karan Anand and Himanshu Uniyal, the need for a fast, seamless and reliable global procurement platform became apparent as they were setting up factories for their former employer, Zume Inc. Karan and Himanshu cumulatively have 25 years of experience in engineering procurement, project management and international business development. They are alumni of Stanford University and Indian Institute of Technology – Kharagpur (IIT-KGP) respectively.

Karan Anand, Co-Founder & CEO, said, “We are convinced that the conditions have never been better for India and Southeast Asia to emerge as a global manufacturing hub for light engineering products. However, tapping this opportunity for SMEs is not as straightforward given their scale, differing engineering standards, regulatory environments, market distances and the imperative of robust after-sales service. Our goal at Wootz.work is to address this need and build at scale, to become a trusted, enduring procurement channel for our global customers.”

Himanshu Uniyal, Co-Founder & COO, said, “Our supply partners, SMEs from India and Southeast Asia, have a proven track record of technical excellence and often outperform economically in segments spanning from material handling to electrical equipment and MRO. At Wootz.work, we harness this technical and economic edge, speeding up the entire procurement journey — from pre-sales to logistics — aiming to match, if not surpass, local market delivery speeds, all while ensuring top-tier after-sales support.”

Sameer Brij Verma, Managing Director, Nexus Venture Partners, said, “Wootz.work promises a transformative approach to cross-border engineering equipment procurement, simplifying and standardizing processes from design to delivery. We at Nexus are thrilled to be part of this pioneering journey with the Wootz team.”

Sudipto Sannigrahi, Principal, Matrix Partners India, said, “We at Matrix are super excited about the manufacturing opportunity in India. A combination of the realignment of global supply chains, China + 1 and maturing of the Indian manufacturing sector has positioned India to be the manufacturing hub for the world. Wootz’s platform empowers Indian SME manufacturers to sell globally by solving key bottlenecks like design and quality. Karan and Himanshu bring extensive experience in setting up manufacturing facilities through the course of their respective careers and we are privileged to partner with them in the Wootz journey.”

Wootz.work is currently working with factories and Original Equipment Manufacturers (OEMs) in the UK across their growth, automation, and MRO phases, driving supply chain innovations and capital expenditure optimization. The company will be setting up new offices in the UK and US this year.

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The move comes as the company launches a big push to empower global deep tech growth through platform economics.

Convergence Partners Investments was the first vehicle structured as a permanent capital vehicle in the Convergence Partners stable. Andile Ngcaba remains firmly invested in and continues to drive the growth at Convergence Partners, which will continue to focus on private equity through its current and future digital infrastructure funds.

Under its new brand, Solcon Capital will focus on international deep-tech investments, with a particular emphasis on Generative AI & Large Language Models (LLM), Synthetic Data & Big Data, Cybersecurity, and Quantum Computing across South Africa, India, and Southeast Asia.

Solcon Capital is working on its flagship AI-based investment management platform, Solcon 360 to be unveiled during the company’s 20th anniversary celebrations in October.

This platform will enable investment companies to manage pipelines, VDR, and operations of their portfolios more effectively.

With its own LLM, Solcon 360 will allow investment companies to capitalise on Generative AI and build custom models tailored to their investment needs.

As part of the rebranding, Solcon also announced the appointment of Pramod Venkatesh as CEO starting 1 August 2023. He will spearhead the global growth of the company.

Venkatesh has extensive experience in managing and building deep-tech companies ground up garnered from Silicon Valley. Prior to joining Solcon Capital, Pramod was the Group CTO of inq. where he was responsible for building products & solutions around AI, SDN & Edge Computing.

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