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Climate-tech startup Fitsol raises $1M in seed funding from Transition VC
Fitsol, a decarbonization platform designed for the manufacturing industry, has raised $1 million in a seed funding round from Transition VC.
Fitsol will use the raised capital to accelerate growth by enhancing its flagship platform Kyoto’s AI for advanced analytics and lifecycle assessment, recruiting talent in technology, business development and customer success, and building the B2B sustainability solutions marketplace.
Geographical expansion has also been prioritized, with India becoming a key market while international operations are about to begin in the Middle East.
Founded in 2022 by Anand Pathak, Akshay Tandon, Manoj Sharma, Sunil Bansal and Vikas Kalra, Fitsol enables producers to measure, report, benchmark and proactively reduce carbon emissions through its AI-powered platform, Kyoto, and a comprehensive sustainability marketplace. .
The company aims to manage 500 million tons of carbon emissions in the supply chain within the next two years.
Fitsol co-founder.
MBG Card secures Rs 2.72 crore led by IPV
MBG Card, a SaaS company that provides digital transformation solutions for businesses, has secured Rs 2.72 crore through Inflection Point Ventures. The round saw participation from revenue-based financing platform Velocity and Club.
The funds will be used to increase marketing efforts, product development, and team building.
Founded in 2021 by Abhinav Dubey, MBG Card specializes in digital transformation solutions for SMEs. The platform provides affordable tools to help businesses increase customer engagement, increase revenue, and automate operations.
Based in Jabalpur, Madhya Pradesh, MBG Card serves more than 10,000 customers in India and internationally.
other news
Velocity has announced Rs 200 crore funding for restaurant, Cloud Kitchen
Velocity, a cash-flow based financing platform, has earmarked Rs 200 crore in 2025 to accelerate growth and acceleration in the restaurant and cloud kitchen ecosystem across India.
The fund is specifically designed to address the unique challenges faced by F&B brands and help them grow. F&B brands often struggle to secure financing from traditional sources like banks and NBFCs.
Recognizing this gap, Velocity offers cash flow-based financing, enabling restaurants and cloud kitchens to effectively manage capital expenditures, working capital, open new outlets, purchase equipment, and launch sub-brands under existing ones without impacting operating profit. .
Since 2020, Velocity has funded several notable F&B brands such as IDC Kitchen, Smoor, Daily Sushi, Brahma Brew Works, Milano Icecream, Imperio, Amore Gelato, Jamie’s Pizza, and Baba’s Chicken.
Cornerstone Ventures spins out of AI platform Intelligence Node
Cornerstone Ventures, a SaaS-focused venture capital firm, has spun off Intelligence Node, a retail analytics and AI platform, following the company’s acquisition by global advertising giant Interpublic Group (IPG).
The acquisition was for approximately $100 million, including integration costs.
By joining forces with IPG, Intelligence Node will be able to further expand its reach and provide greater value to its customers through access to IPG’s resources and global network.
The full exit from the Intelligence Node marks Fund I’s second exit. Cornerstone Ventures first invested in Intelligence Node in 2019.
Cornerstone Ventures’ portfolio includes notable players in the service SaaS space such as ManageArtWorks, THB, EnParadigm, WatchYourHealth and Credit Nirvana, as well as SaaS + marketplace models such as Blubirch, Credilio, and Mystifly.
Employment platform Foundit appoints V Suresh as CEO
foundit (formerly Monster APAC & ME), a jobs and talent platform, and a Quess company, has appointed V Suresh as its Chief Executive Officer.
With over two decades of experience in the internet domain, digital transformation, and e-recruitment ecosystem, Suresh brings strategic expertise and forward-looking vision to Foundit.
Throughout his career, he has driven transformational growth, expanded market presence, and established successful digital platforms across sectors.
“Suresh’s deep understanding of the digital talent ecosystem and proven ability to scale businesses will help us strengthen our leadership position in the market. Under his stewardship, we aim to further refine our platform, expand our services and continue to bridge the talent gap across industries and geographies. ,” said Ajit Isaac, managing director of Quess Corp, the parent company of Foundit.
Skydo receives Amazon payment service provider approval
Skydo, a cross border payment platform, has received Payment Service Provider (PSP) approval from Amazon.
This makes Skydo one of the first indigenous platforms to offer seamless international payments for millions of Indian exporters selling on Amazon Global Marketplaces.
With this, exporters on Amazon can receive their international payments securely and cost-effectively through Skydo. Skydo is partnered with HDFC Bank and complies with RBI regulations.
As part of their launch offer, Skydo is offering Amazon Global sellers zero foreign exchange markup and a $1 flat transaction fee for the first three months of using the platform.
Some of Skydo’s features include transparent pricing with zero markup at direct mid-market forex rates, simplified regulatory compliance with instant digital onboarding and KYC, dedicated customer support, fast settlements, and instant foreign inward remittance advice.
Co-founder of Skydo.
Lectrix EV appoints Anil Dua as co-founder
SAR Group’s e-mobility arm, Lectrix EV, has appointed Anil Dua as co-founder, effective immediately.
A seasoned leader with a proven track record across industries, Dua brings over three decades of expertise in strategic leadership, digital transformation, and brand building.
Most recently, Dua served as the Group CEO of Dish TV. Earlier, he held key roles in Oman’s OTE Group, Hero MotoCorp, Unilever and Gillette.
With Dua on board, Lectrix EV hopes to strengthen its market position, expand its product portfolio and make electric mobility more accessible and sustainable.
(This article will be updated throughout the day with breaking news.)