Author: Team CEO VINE

IPO-bound used car marketplace Droom has secured ₹25 crore ($2.9 million) in a new funding round co-led by Finvolve, IA Growth Opportunities Fund II, and Rameshchandra Shah.

The round also saw participation from individual investors, including Rajkumar Sorathi, Hardik Kothiya, and Shirish Patel.

According to regulatory filings sourced from the Registrar of Companies (RoC), Droom’s board approved a special resolution to issue 15,62,500 preference shares at ₹160 each, raising the capital.

Finvolve, IA Growth Opportunities Fund II, and Shah are each contributing ₹5 crore, while Shirish Patel, CEO of Prudent Corporate Advisory, is investing ₹3 crore. The remaining amount will come from other investors.

The funds will be allocated toward general corporate purposes. Following the allotment, Gurugram-based Droom is expected to reach a valuation of approximately ₹3,097 crore ($360 million)

Sandeep Aggarwal, Founder and CEO of Droom, commented on the valuation strategy, stating,

“We deliberately kept the valuation very low for the Indian subsidiary as a strategic move to give material upside to Indians who did not have the opportunity to participate in Droom’s growth over the past decade. We plan to raise more capital soon at a much higher valuation in both Singapore and India.”

Founded in 2014, Droom operates an online marketplace for used vehicles, including cars, motorcycles, and electric vehicles, along with rental services.

To date, the company has raised approximately $330 million from investors such as 57 Stars, Seven Train Ventures, Lightbox, and Beenext.

The firm reported ₹85 crore in revenue for FY24, marking a 66% decline from ₹253 crore in FY23. However, it managed to cut losses by 35%, reducing them to ₹40 crore in FY24.

Droom is reportedly preparing to file draft papers for a ₹1,000 crore IPO in 2027, aiming for a valuation between $1.2 billion and $1.5 billion.

Rangsons Aerospace, founded by Pavan Ranga, has raised ₹300 crore ($36.5 million) in a funding round led by ValueQuest Investment Advisors, with Anand Rathi Advisors serving as the financial advisor.

The company specializes in aerospace, defense, and homeland security solutions.

The newly raised capital will be used to develop advanced products for commercial and military aviation markets globally, while also driving expansion into new business areas through strategic acquisitions.

A part of the Mysore-based NR Group, Rangsons Aerospace operates three facilities across Bangalore and Mysore.

Its product lineup includes satellite communication systems, airborne thermal management, and fluid distribution solutions.

As a Tier I supplier, Rangsons Aerospace partners with global aerospace giants such as Boeing, GE, and Honeywell.

It also provides critical systems to major Indian organizations, including ISRO, the Indian Navy, and HAL.

This investment will enable Rangsons Aerospace to strengthen its global footprint and continue innovating in the aerospace and defense sector.

Mumbai-based Purple Style Labs (PSL), the parent company of Pernia’s Pop-Up Shop (PPUS), has raised ₹102 crore (approximately $12 million) in a fresh funding round from over eighty investors as it prepares for an initial public offering (IPO) in 2026.

According to regulatory filings sourced from the Registrar of Companies (RoC), PSL’s board approved a special resolution to issue 2,040 preference shares at ₹5,00,000 each, raising ₹102 crore over the past three months.

Key investors include Minerva Ventures Fund (₹10 crore), Cordelia Family Trust (₹5 crore), S Four Capital (₹6 crore), and Sopariwala Exports (₹5 crore), along with 77 individual backers, including Sachin Tendulkar, Salman Khan, Surya Kumar Yadav, and Shraddha Kapoor.

The funds will be used for general corporate purposes and working capital requirements. Following this allotment, PSL’s valuation is expected to reach $400 million.

Founded in 2015 by Abhishek Agarwal, Purple Style Labs has positioned itself as a luxury fashion platform, operating Pernia’s Pop-Up Shop and The Stylist.

Since acquiring PPUS in 2018, the company has expanded to 15 experience centers across major Indian cities and London.

The company recorded a 36% year-on-year growth, with revenue climbing to ₹508 crore in the last fiscal year from ₹372 crore in FY23.

However, losses widened by 20 percent, reaching ₹45.6 crore due to aggressive expansion efforts.

With an IPO planned for 2026, PSL is targeting $200 million in gross sales for the upcoming year. The latest funding will help strengthen its market presence and support further expansion in the luxury fashion sector.

Mumbai-based energy storage startup AmpereHour Energy has raised $5 million (₹43.6 crore) in a funding round led by climate-focused fund Avaana Capital, with participation from UC Impower and existing angel investors.

This latest infusion of capital follows its previous $2.45 million raise from AngelList and others.

The company plans to utilize the funds to scale its manufacturing and software capabilities, accelerate research and development, and enhance its product portfolio, aiming to strengthen its position in the growing energy storage sector.

Founded in 2017 by Ayush Misra, Rahul Shelke, Harshal Thakur, and Neehar Jathar, AmpereHour Energy specializes in stationary battery energy storage solutions, helping businesses and power grids efficiently store and manage electricity.

Its proprietary Elina energy management software plays a critical role in optimizing battery performance for renewable energy integration, backup power, and grid stability.

The startup has already made significant strides in the industry, securing major clients like Amazon, Siemens, Coca-Cola, and Indigrid.

With deployments across more than 50 locations, AmpereHour is currently commissioning 50 megawatt-hours (MWh) of power storage capacity and has ambitious plans to scale up to 1 gigawatt-hour (GWh) within the next 18 months, backed by existing contracted capacity.

Beyond India, AmpereHour Energy is actively expanding its global footprint.

The company has ongoing projects in Oman and Nigeria, while ventures in Belgium and the UAE are currently in the commissioning phase, reflecting its growing international presence in the clean energy sector.

With rising demand for sustainable and efficient power storage solutions, AmpereHour Energy is poised to play a crucial role in shaping the future of energy infrastructure and grid resilience.

Upskilling platform Weskill has secured an undisclosed amount in a pre-seed funding round, valuing the company at ₹40 crore.

The investment comes from high-net-worth individuals (HNIs) and strategic investors.

The funding is aiming to fuel the platform’s expansion and enhance its AI-driven learning ecosystem.

Established in November 2023 by Prashant Prakash Dubey, Weskill addresses the growing disparity between traditional education and industry demands.

By leveraging artificial intelligence, the platform offers personalized career counseling and training modules, ensuring learners acquire relevant skills for today’s job market.

To provide high-quality experiential learning, Weskill has partnered with esteemed institutions such as EICT, IIT Guwahati, and various multinational corporations.

These collaborations enable the platform to deliver industry-relevant training to undergraduates and early-stage professionals, preparing them for success in corporate environments.

Beyond upskilling programs, Weskill has developed an AI-based career counseling and mock interview platform, reportedly benefiting over 170,000 students in their career advancement.

The company is committed to transforming education by empowering students and shaping a workforce equipped with in-demand skills.

Looking ahead, Weskill plans to upskill and guide over 600,000 students across India in the next two years.

The focus will remain on AI integration, innovative learning methodologies, and strategic industry partnerships to broaden its impact.

Edtech startup Dreamtime Learning has secured an undisclosed amount in a pre-Series A funding round from Gruhas, the investment firm co-founded by Nikhil Kamath and Abhijeet Pai.

This investment aims to bolster Dreamtime Learning’s expansion of its micro-school model in metropolitan areas and to scale its global online school, which currently serves learners in over 40 countries.

Founded by renowned educator Lina Ashar, who previously established Billabong High and Kangaroo Kids, Dreamtime Learning focuses on integrating technology into education.

The company emphasizes critical thinking and adaptability over traditional rote learning methods.

Ashar expressed that this investment validates their mission to revolutionize education, stating that with Gruhas’s backing, they are poised to scale their impact and reshape education for a rapidly evolving world.

This funding comes at a time when India’s edtech sector is experiencing significant growth. Valued at $7.5 billion in 2024, the industry is projected to reach $29 billion by 2030, expanding at a compound annual growth rate (CAGR) of 25.8%.

This surge is driven by rising aspirations, digital expansion, and a shift toward online learning.

Gruhas’s investment in Dreamtime Learning adds to Nikhil Kamath’s growing portfolio in education and technology startups.

The Zerodha co-founder has been actively investing in early-stage companies through various vehicles, including Gruhas and WTFund.

Last month, WTFund announced its second cohort of nine startups, including Bengaluru-based BYTES, which develops AI-powered safety systems for two-wheelers.

Dreamtime Learning’s innovative approach and recent funding position it well to capitalize on the burgeoning opportunities within India’s rapidly expanding edtech landscape.