Author: Team CEO VINE

IPO-bound fintech unicorn BharatPe has appointed Ajit Kumar, former Senior Vice President at Paytm, as its new Chief Technology Officer (CTO). In his new role, Ajit Kumar will lead BharatPe’s technology vision focusing on product innovation, platform efficiency, and strengthening its payments and lending infrastructure.

The appointment marks a strategic move as BharatPe gears up for its next growth phase and prepares for a potential public listing by FY27. The company aims to enhance its UPI and merchant technology stack, improve scalability, and sustain its recent profitability gains.

Founded in 2018, BharatPe has grown into one of India’s most recognized fintech players, empowering offline merchants and small businesses with digital payment and lending solutions.

Ajit Kumar brings nearly two decades of experience in scaling technology platforms. During his nine-year tenure at Paytm, he led multiple engineering teams and product verticals. His prior stints include roles at Snapdeal, Times Internet, and xAd Inc. He succeeds Pankaj Goel, who exited in mid-2025 to join LeadSquared.

The leadership change comes amid BharatPe’s broader organizational restructuring, which has seen senior leadership realignments across banking, consumer, and PoS divisions. All key verticals now report directly to CEO Nalin Negi, reflecting a sharper focus on execution and sustainable growth.

BharatPe recently reported an EBITDA profit of ₹141 crore in FY25 (excluding ESOP costs), a turnaround from the previous year’s losses alongside 17% revenue growth.

Kerala-based deeptech startup Neiox Eco Cycle has secured a ₹75 lakh prototyping grant under Cochin Shipyard Ltd’s USHUS Maritime Innovation Scheme, marking a major step forward in its mission to build sustainable, carbon-negative technologies for the maritime industry.

The grant will help Neiox develop its eco-friendly hull-coating material designed to reduce corrosion, limit biofouling, and boost vessel efficiency while simultaneously cutting emissions. The company positions this solution as a non-toxic, carbon-negative alternative to conventional coatings, aiming to balance operational performance with environmental responsibility.

Founded in 2023 by Akhil Raj Pottekkat, Neiox Eco Cycle operates from Kozhikode as a climate-tech venture focused on converting waste and captured air pollutants into usable industrial materials. Its technology pipeline blends circular economy principles with sustainable manufacturing, reinforcing Kerala’s growing presence in India’s green innovation ecosystem.

Earlier, in November 2024, the startup received a ₹30 lakh grant from Cochin Shipyard under a maritime innovation program, helping it advance early-stage research. The latest support will enable Neiox to move closer to commercial readiness for large-scale maritime adoption.

The official grant handover took place at IIM Kozhikode, attended by representatives from Cochin Shipyard and the institute’s LIVE incubation program. Neiox is also supported by Kerala Startup Mission (KSUM) and TBI NIT Calicut.

Commenting on the development, founder and CEO Akhil Raj Pottekkat said the company’s work lies “at the intersection of climate action, public health, and sustainable manufacturing,” adding that Neiox Eco Cycle aims to make maritime operations cleaner and more efficient while spotlighting Kerala’s potential in deeptech-led sustainability.

Enterprise AI software company UnifyApps has raised $50 million in a Series B round led by WestBridge Capital, with participation from ICONIQ and other investors. The funding brings the company’s total capital raised to $81 million, following its $20 million Series A earlier this year.

The fresh investment will be used to expand UnifyApps’ European footprint, grow its global team, and advance platform development. The company also plans to enhance enterprise integrations and build a catalog of pre-built AI applications to help clients deploy faster.

Founded in 2023 by Pavitar Singh and co-founders Abhishek Khurana, Rachit Mittal, Sumeet Nandal, Haitham Elkhatib, Abhinav Singi, Rahul Anishetty, Kavish Manubolu, Shivam Satrawal, and Rohan Vijay, UnifyApps operates across India, Dubai, and the United States. Recently, Ragy Thomas joined as Chairman and Co-CEO, strengthening the leadership team as the company scales globally.

UnifyApps is building what it calls an Enterprise Operating System for AI — a unified platform that connects data, workflows, and systems across major enterprise tools like Salesforce and Workday. Its low-code/no-code architecture helps organizations integrate data, deploy AI models, and automate operations efficiently.

The platform’s Six-Layer Enterprise AI Architecture enables seamless system integration, workflow automation, and deployment of autonomous AI agents. This approach is already transforming how enterprises deploy and scale AI.

Major organizations such as HDFC Bank, Deutsche Telekom, Contentstack, Sirion Labs, Belcorp, WalkMe, Air Arabia, and Liva Insurance, along with the Abu Dhabi and Dubai governments, are leveraging UnifyApps to unify data and accelerate their AI transformation.

According to the company, its platform has helped enterprises reduce AI deployment timelines from months to days, significantly enhancing speed and efficiency in enterprise automation.

Healthy-snacking brand Wonderland Foods has raised ₹140 crore (approximately $16 million) in its first funding round, led by Asha Ventures with participation from British International Investment (BII), the UK government’s development finance institution.

The fresh capital will be used to expand operations, strengthen distribution, and enhance in-house processing capabilities. The company also plans to diversify its product range and invest in marketing and brand-building to deepen its reach across India’s growing healthy-snack market.

Founded in 2014 by Rakesh Gupta and Anubhav Gupta, Wonderland Foods offers a wide variety of nuts, seeds, berries, dried fruits, and dates, emphasizing quality, nutrition, and taste. By sourcing directly from farmers and maintaining in-house processing, the company ensures freshness and traceability—two key factors driving its consumer trust.

The brand has built a robust omnichannel presence, with products available across Amazon, Flipkart, Swiggy Instamart, Blinkit, Zepto, Reliance, D-Mart, Vishal Mega Mart, Lulu Super Mart, Metro Cash & Carry, and Walmart. Its distribution model spans both B2C and B2B segments, giving it a strong foothold in India’s rapidly expanding healthy food market.

Beyond business metrics, Wonderland Foods is creating meaningful social impact. Its production facilities employ nearly 1,000 workers, the majority of whom are women, contributing to economic empowerment and inclusive growth. The company also qualifies for the 2X Challenge, a global initiative that promotes gender-inclusive investment.

In terms of growth, Wonderland Foods has scaled rapidly—from ₹95 crore in FY21 to ₹540 crore in FY25, with projections to cross ₹700 crore by FY26.

India Quotient has announced the close of its fifth fund at $129 million (₹1,132 crore), reaffirming its commitment to nurturing India’s next generation of early-stage startups. The fresh capital raised from a mix of Indian and global investors comes at a time when optimism around the country’s startup ecosystem is on the rise again.

The new fund, India Quotient Fund V, will focus on pre-seed, seed, and idea-stage ventures, with an emphasis on technology-led sectors such as SaaS, fintech, digital brands, agritech, content-driven platforms, and consumer products.

The firm plans to write initial cheques ranging from ₹1 crore to ₹15 crore, with room for follow-on investments as startups begin to scale.

Founded in 2012 by Anand Lunia and Madhukar Sinha, this VC firm has built a strong reputation for identifying and shaping businesses that deeply understand Indian consumers and small businesses.

Its portfolio includes early bets on ShareChat, Sugar Cosmetics, Lendingkart, Kuku FM, and Vyapar, several of which have gone on to secure funding from leading global investors.

With Fund V, India Quotient has also expanded its leadership team, welcoming Kanika Agarrwal and Sahil Makkar as new partners alongside existing partners Gagan Goyal, Lunia, and Sinha.

The firm’s strategy remains rooted in its decade-long philosophy, partnering with founders at the concept stage, helping them refine product-market fit, and guiding them through future funding rounds.

This marks the firm’s fifth fundraise, following the $80 million Fund IV launched in 2021, which backed more than 35 startups.

Over the past decade, India Quotient has invested in 100+ companies, many of which have evolved into category leaders, reinforcing its role as one of India’s most influential early-stage venture firms.

Delhi-based healthy snacking brand Let’s Try has hit a major milestone, surpassing ₹250 crore in annual recurring revenue, founder Nitin Vinod (NV) Kalra announced on LinkedIn. Expressing gratitude toward customers, partners, and the team, Kalra highlighted the collective effort behind the brand’s rapid growth.

Founded in 2021 by NV Kalra, along with Neelam Kalra, Chitra Gupta, and Geetanjali, Let’s Try, legally known as Earth Crust Private Limited has been on a mission to revive India’s forgotten flavors with clean, high-quality snacking alternatives.

The company focuses on tasty, nutritious, and affordable snacks, made with natural ingredients and 100% groundnut oil, while avoiding artificial flavors, colors, preservatives, and palm oil.

NV Kalra, a national-level rifle shooter and former executive at ITC, PepsiCo, and Raymond, leads the brand with a vision of making wholesome snacking accessible and enjoyable.

Over the past four years, Let’s Try has grown its revenue from ₹1 crore to ₹250 crore, backed by $4.06 million raised across five funding rounds. The most recent $2.5 million Pre-Series A round was led by SWC Global. The brand has set its sights on achieving ₹1,000 crore in revenue by 2028.

The company gained early visibility on Shark Tank India Season 1, securing a ₹45 lakh deal for 12% equity with investors Aman Gupta and Anupam Mittal.

Operating as an internet-first brand, Let’s Try competes with established names like Yoga Bar, Eat Better, and Tagz Foods, building a strong foothold in India’s growing snacking segment.

AI Planet, a deeptech company specializing in enterprise Generative AI and Agentic AI solutions, has announced a strategic joint venture with InfoDrive Analytics – a Vardaan Global Company to establish a state-of-the-art AI and digital transformation hub in the United Arab Emirates.

The official agreement was signed at GITEX Global, in the presence of the Ambassador of Belgium and the Flanders Investment & Trade team, marking AI Planet’s first official entry into the UAE market beyond its existing operations in Belgium, Luxembourg, and India.

Backed by a $3 million investment from InfoDrive Analytics, the joint venture will be headquartered in Dubai and focus on supporting governments and large enterprises in accelerating their AI adoption and digital transformation initiatives.

The capital will be used to drive market development, enhance customer acquisition strategies, establish regional operations, and hire local talent. The partnership also aims to develop industry-specific Agentic AI solutions powered by AI Planet’s proprietary platform.

The collaboration combines AI Planet’s expertise in enterprise-grade AI orchestration with InfoDrive Analytics’ regional reach and business know-how. Together, they plan to deliver Generative AI and Agentic AI solutions across key sectors including finance, manufacturing, healthcare, telecom, and education.

AI Planet founded by Chanukya Patnaik, is a deeptech platform that enables enterprises to build, deploy, and scale autonomous AI solutions securely. With a presence across manufacturing, finance, education, and public sectors, the company helps organizations move beyond AI experimentation to achieve measurable business transformation.

Earlier this year, AI Planet introduced LuxLLama, Luxembourg’s first Large Language Model designed to preserve the culture and history of the Luxembourgish language.

Agentic AI startup Fundamento has raised $1.9 million (₹16 crore) in a pre-Series A round led by IIFL Fintech Fund, with participation from The Players Fund (backed by cricketers KL Rahul and Ben Stokes), Venture Catalysts, Lead Invest, Epic Angels, and other investors.

The company plans to use the funds to enhance its agentic AI capabilities, build verticalized solutions for banks and fintechs, and expand across key financial workflows such as collections, borrower profiling, and cross-selling.

It will also invest in strengthening its proprietary AI infrastructure and growing its enterprise partnerships across the banking and fintech ecosystem.

Founded in 2020 by Ankit Durga, Megha Aggarwal, and Vickram Saigal, Fundamento operates as a specialized AI platform designed to enhance borrower engagement for financial institutions. Acting as a strategic engagement layer, it helps banks, NBFCs, and fintechs streamline lending operations, automate decision-making, and deliver more personalized borrower journeys.

By combining deep financial expertise with multi-agentic AI, Fundamento enables lenders to improve loan recovery, risk assessment, and customer satisfaction. Its technology reduces friction across the lending lifecycle, improving both operational efficiency and end-user experience.

Looking ahead, Fundamento aims to scale its footprint within India’s BFSI sector while expanding into international markets such as the US and APAC, where digital lending and AI-driven debt management are rapidly growing.

Pune-based electric vehicle manufacturer EKA Mobility has raised ₹500 crore ($57 million) in a strategic investment from the National Investment and Infrastructure Fund (NIIF)’s India-Japan Fund.

The fresh capital will be used to enhance manufacturing capacity, boost R&D, expand product offerings, and strengthen supply chain infrastructure.

EKA also plans to set up new manufacturing facilities to meet rising demand across domestic and international markets.

Founded in 2022 by Sudhir Mehta, EKA Mobility operates as a subsidiary of Pinnacle Industries, focusing on the design and production of electric buses and small commercial EVs. The company aims to make zero-emission vehicles more affordable and accessible while supporting India’s transition toward clean, green transportation.

EKA’s product lineup includes electric buses (7m, 9m, and 12m), intercity coaches, 3-wheeler passenger and cargo EVs, and trucks ranging from 1.5T to 55T.

The company has confirmed orders for over 3,300 electric buses from government bodies and private operators, reinforcing its position among India’s leading EV manufacturers.

Currently, EKA’s Koregaon Bhima facility in Pune produces around 200–250 e-buses per month, with plans to double output to 500 units monthly by FY26. A new manufacturing unit is also being established in Pithampur, Madhya Pradesh, as part of its nationwide expansion.

This investment follows a ₹200 crore round from Enam Holdings earlier this year, which helped EKA ramp up production and scale operations. The company’s FY24 operating revenue grew nearly 12X, reaching ₹53 crore, up from ₹2.9 crore in the previous fiscal year — signaling strong market momentum.

Commenting on the development, Sudhir Mehta, Founder and Chairman of EKA Mobility, said,

“This investment comes at a pivotal time as we scale operations, strengthen R&D, and accelerate India’s transition to electric mobility.”