Startups, Mergers, Acquisitions and Funding Round-up this week

Anthropic Eyes Historic Valuation in Latest AI Funding Round

Anthropic, a leading artificial intelligence research company, is close to finalising a substantial funding round that could value the firm at $170 billion. If successful, this would place the company among the world’s most highly valued AI ventures. 

Acme Solar Secures Rs. 15,000 Crore to Scale Green Energy Projects

Acme Solar has landed a massive Rs. 15,000 crore in debt funding to power its new greenfield renewable energy projects. This funding will play a crucial role in expanding Acme’s solar energy capacity and supporting India’s national climate and sustainability goals. 

Titan Raises $74 Million to Power AI Automation and Strategic Acquisitions

Titan, a company focused on building AI-driven solutions for enterprises, has secured $74 million in fresh funding. The capital will help the company strengthen its artificial intelligence platform while enabling the acquisition of managed service providers (MSPs). 

Darwinbox Attracts $40 Million from Canadian Pension Giant OTPP

HR tech platform Darwinbox has raised $40 million in a funding round led by the Ontario Teachers’ Pension Plan Board. With a focus on digital human capital management solutions, the company will use the new capital to enhance product development and accelerate its expansion into international markets. 

Elivaas Raises $10.4 Million to Expand Luxury Rental Offerings

Luxury hospitality startup Elivaas has secured $10.4 million in a funding round spearheaded by Vertex Ventures. Known for offering premium vacation rental experiences, the startup intends to scale its operations, grow its high-end property listings, and improve service standards.

Age Care Labs Begins Early Fundraising Talks for Series B Round

Age Care Labs, supported by Rainmatter Capital, is reportedly gearing up for its Series B fundraising. The startup, which caters to the healthcare needs of the elderly population, is said to be in initial discussions with potential backers. 

Zepto Receives Rs. 400 Crore Backing from Motilal Oswal for Expansion Push

Quick commerce startup Zepto has received a significant Rs. 400 crore investment from Motilal Oswal Alternates. The funding will help the company scale its operations, increase dark store coverage, and reinforce its logistics infrastructure. 

Arintra Raises $21 Million to Advance AI Tools for Hospitals

Healthtech company Arintra has secured $21 million in a Series A round led by Peak XV. The startup provides AI-based documentation and clinical support for healthcare providers. With this investment, Arintra aims to grow its tech stack and expand integration with hospitals across India.

Dozee to Secure $10 Million in Debt to Expand Remote Monitoring Solutions

Dozee is in the process of raising $10 million through debt funding to expand its reach in hospital-based remote patient monitoring. The startup specialises in contactless health tracking systems and intends to use the funds for deepening market penetration.

Ultraviolette Attracts $21 Million to Scale EV Production and Innovation

Electric vehicle startup Ultraviolette has attracted $21 million in fresh investment, with TDK Ventures leading the round. The funding will allow the company to enhance its manufacturing capabilities and develop next-gen battery technologies. 

Mergers and acquisitions 

• Niyo has acquired Kanji Forex and appointed Amit Talwar to lead its forex vertical, strengthening its presence in cross-border finance.
• Manufacturing services platform Zetwerk has acquired a controlling stake in transformer maker KRYFS to expand its capabilities in the power infrastructure sector.
• Adani Defence, along with Prime Aero, has acquired Indamer Technics to expand its market share in aviation maintenance and repair services.
• Indian Hotels Company Ltd (IHCL) has acquired a 51% equity stake in Clarks Hotels for Rs. 214 crore, aiming to scale its mid-range hospitality footprint.

Other news 

• India’s semi-government investment vehicle is aiming to expand its managed assets by doubling them to $10 billion in the next two and a half years.
• The Indian government has officially recognised over 1.8 lakh startups under the Startup India initiative, indicating the growing pace of innovation-led entrepreneurship in the country.
• Karnataka has emerged as the second most active state in terms of startup registrations, with only Maharashtra ahead of it. 
• In a strategic expansion push, Amazon is setting up 300 dark stores across India, signalling its commitment to scaling its quick delivery infrastructure in the competitive quick commerce market.
• Rapido has launched a test version of its food delivery platform, 'Ownly', in specific zones of Bengaluru. This marks a notable shift for the mobility startup as it explores entry into the food tech sector.