PhonePe has raised $350 million (about Rs 3000 crore) led by General Atlantic, valuing the startup at $12 billion (around Rs 98,000 crore). The company says it will invest in infrastructure such as data centers and expand into financial services including insurance, wealth management, and lending. The move follows recent Flipkart-PhonePe ownership separation.
AI fashion backend startup STCH, founded by ex-Zetwerk executives, says it raised $5.5 Mn in its Pre-Series A round led by Omnivore, with Kae Capital and WVC. The update came after an earlier $7 Mn figure. The company plans to expand AI capabilities, build its fabric R&D lab, and scale a CDMO platform that recreates fabrics in about 45 days.
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Astranova Mobility, an EV financing platform, has raised Rs 60 crore from IvyCap, ADB and Trucks VC. CEO Mundra says the capital will largely bolster data, AI and engineering capabilities, positioning the company for more than five-fold growth over the next 18 months. The round signals intensified competition in India’s EV lending and fintech space.
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