Funding News:
Inflection Point Ventures, Antler-led SustVest Raises $1.7M in Pre-Series A Round
A sustainable investment platform specializing in renewable energy, has raised $1.7 million in a pre-Series A round through a mix of equity and debt.
The round was led by Inflection Point Ventures and Antler, which participated entrepreneurship catalyst, FAAD Network, and others.
The funds will support key development initiatives including acquiring solar projects, scaling up marketing for regulated platform launches, strengthening operations, and covering legal expenses.
(LR) Hardik Bhatia (CEO) Devansh Shah (CTO) Sustvest
Founded in 2020 by Hardik Bhatia and Devansh Shah, SustVest is a regulated platform for sustainable investments, offering fixed income opportunities in renewable energy. The platform supports zero-cost solar adoption for commercial and industrial customers, enabling them to access solar projects at 50% lower charges.
Its portfolio includes clients including Lodha Group, Hitachi, Mahle Group, Subros Limited, CISF, NSG, and CRPF. Serving global investors through seamless KYC processes, SustVest’s projects are located in key regions including Maharashtra and Himachal Pradesh.
SustVest has achieved over Rs 43 crore in Assets Under Management (AUM) with 9.3 MW of solar installations, distribution of over Rs 5.7 crore in energy income, and 94 lakh kg carbon emission savings.
M37Labs secures pre-seed funding from Concept Group
M37Labs, founded by Prashant Sivaram Iyer and Zoravar Purohit, has secured an undisclosed amount in a pre-seed funding round from Concept Group owner Vivek Suchanti.
Specializing in AI-as-a-Service (AIaaS), the company offers a range of AI solutions to help enterprises effectively adopt and implement AI. M37Labs offers services including AI strategy workshops, where they work with C-suite executives to align AI strategies with business goals; AI workflow design, ensuring seamless integration with existing processes; and custom AI software development to address specific business challenges.
The company focuses on sectors such as BFSI, Retail, Ecommerce, Telecom, Travel & Hospitality, Defense, Space Tech, Healthcare, Media, and Startups.
other news
Equantis Wealth Advisory offers technology-driven investment solutions
Equentis Wealth Advisory Services introduces MultiplyRR, a DIY equity investment solution designed to make the equity markets more accessible to new investors.
The solution debunks the myth of starting small in equity investing, offering innovative, technology-driven tools that simplify the process and empower individuals to achieve their financial goals while confidently growing their savings.
MultiplyRR offers six curated stock baskets designed for new-age investors looking for short- to medium-term capital growth. Each basket consists of 5-6 high-growth stocks, to match different risk appetites and investment styles, simplifying equity investing.
With entry points starting at Rs 22,000, MultiplyRR enables aspiring investors to confidently enter the equity markets without the complexity of individual stock selection.
Founded in 2015, Equantis Wealth Advisory Services serves over 30,000 clients across multiple sectors.
SPIT Mumbai celebrates the 25th anniversary of the 1999 batch at the Annual Alumni Reunion
Sardar Patel Institute of Technology (SPIT), Mumbai organized its Annual Alumni Reunion on December 21, 2024 at SP Jain Auditorium celebrating the 25th anniversary of the 1999 batch. The event welcomed over 300 alumni, including prominent leaders in technology and business, to honor their professional milestones.
Sameer Nigam and Rahul Chari, alumni of the 1999 batch and founders of PhonePe, announced a $1 million grant at the event to improve infrastructure, promote innovation and cultivate entrepreneurship, empowering students to create effective solutions and ventures.
Xcelerate acquired a strategic equity stake in Carisma Solutions
Xcelerate Pte Ltd has acquired a strategic equity stake in Carisma Solutions Private Limited, a knowledge-driven business services provider providing comprehensive managed services and digital solutions in the accounting, financial advisory, mortgage, and SMSF sectors in Australia.
Carisma assists clients in the preparation, calculation, filing and maintenance of complex financial, tax, and regulatory compliance requirements. With over 500 employees, the company operates out of five offices in Chennai, Bangalore, Tirunelveli, Sydney and Melbourne.
Xcelerate Pte Ltd, a Singapore-based operating and investment platform focused on ESGRC segments, is owned by companies such as Aparajita Corporate Services, Strip Communications Consultants, and Gieom Business Solutions. Along with AGS Chaitanya and Porco Pari, Yogesh Bhura and Arjun Ramaraju have joined Karishma’s board as Accelerate nominees.
EY provided financial and tax due diligence, while JSA Law advised Xcelerate legally. July Connect acted as transaction advisor to Xcelerate, and Eswaran Advocates represented Carisma’s shareholders.
Luxury co-living brand Housr targets 100+ properties by March 2025
A luxury-managed living brand, is expanding into the short-stay segment to meet growing demand for flexible corporate accommodation, noting high occupancy rates across 70+ properties in top-tier cities over the past 18 months.
It is expanding into the short-stay segment to meet the growing demand for flexible accommodation among corporate travelers. With more than 70 properties in top cities like Gurugram, Bengaluru, Hyderabad, Pune, and Vizag, Housr maintains over 90% occupancy rates, offering fully managed, community-centric spaces such as gourmet food, housekeeping, high-speed internet, and 24. /7 support.
Set to expand to over 100 properties and 10,000 beds by March 2025, Housr is redefining managed living for both short and long-term stays in India.
Harness appoints Prashant Verma as head of R&D to drive innovation in India
software company Appointed Prashant Verma as R&D Head for its India Centre. With 24 years of engineering leadership experience, IIT Delhi alumnus Prashant is poised to make Harness India a leading innovation hub, contributing to the company’s global growth.
Prashant Verma, Head, R&D India Centre, Harness
Prashant Verma, with experience at leading organizations such as i2, Informatica, Goldman Sachs, LinkedIn, Flipkart, Zoomcar, and Traveloka, joins Harness as Head of R&D, India Center. He will focus on building a world-class R&D center, fostering a technology-first culture, and enhancing collaboration with global teams to position Harness India as a top workplace.
Harness is a leading end-to-end software delivery platform that uses AI and machine learning to simplify and secure application releases for engineering and DevOps teams. The platform accelerates deployment by 75%, reduces infrastructure costs by 60%, and reduces lead time for changes by 90%.
IIT Kanpur completes Phase-1 placements for 2024-25 with over 1,100 offers accepted
Indian Institute of Technology Kanpur (IITK) successfully completed the first phase of campus placement for the 2024-25 undergraduate batch from December 1 to 15, 2024. The placement drive saw 1,109 offers across various industries, with 1,035 offers accepted by students.
Phase 1 of IIT Kanpur’s 2024-25 campus placements saw 28 international offers, a 27% increase over last year, and a significant increase in core industry placements due to growing student interest. Public Sector Undertakings (PSUs) have contributed significantly, with BPCL being the top recruiter in this category.
Over 250 companies participated including top recruiters like BPCL, NPCI, Databricks, Microsoft, Google, Oracle, Qualcomm, Intel, Texas Instruments, Meesho, Shiprocket, Reliance, Meril Life, Deutsche Bank, ICICI Bank, American Express, SLB, Micron . , Cars24, and FedEx.
Revenant Esports teams up with Indian gaming influencer ScoutOP
Revenant Esports, a South Asian esports organization, has partnered with the influential Tanmay “ScoutOP” Singh, an iconic figure in the Indian gaming community.
As part of the strategic collaboration, ScoutOP will be exclusively managed and represented by Revenant Esports. Known for its engaging content and strong online brand, Tanmay has built a thriving community of gaming enthusiasts by enabling partnerships with top Indian and global brands in the industry.
His versatile influence has attracted brands like Google, Monster Energy, Cadbury, Airtel, KFC, Samsung, Amazon, Flipkart, Adidas, Real Madrid, FC Bayern, and many more.
Samunnati restructures to increase agricultural cooperation with new corporate framework
Restructured its corporate structure to provide faster, simpler and more focused support in finance, market linkage, and advisory solutions.
Effective December 20, 2024, its NBFC lending business will operate under a wholly owned subsidiary, Samunnati Finance Private Limited.
This strategic shift aims to enhance collaboration with agricultural stakeholders and provide a broader range of integrated solutions through a streamlined and efficient framework addressing the evolving needs of the sector.
Founded in 2014, Samunnati provides financial, co-financial, and non-financial solutions to marginal, small and medium farmers, agri enterprises, and wholesale/retailers. With a presence in over 100 agri-value chains across 23 states, Samunnati connects 6,500+ farmer groups. It aims to impact one in every four farming families by 2027.
Zomato partners with ACKO to increase healthcare access for delivery partners
Food delivery platform, has partnered with A safety destination, to enhance the safety and well-being of its delivery partners.
Through this collaboration, more than 78,000 delivery partners have created ABHA ID cards on the ACKO platform, enabling centralized and seamless access to their healthcare records. The aim of this initiative is to provide essential health services more conveniently and conveniently.
Ayushman Bharat Health Accounts (ABHA), launched by the Ministry of Health and Family Welfare, serves as a unique digital identifier linking individual health records to create a streamlined digital health ecosystem under the Ayushman Bharat mission.
Free to register through Ayushman Bharat Digital Mission (ABDM), ABHA enables secure, consent-based access and management of health data including lab reports, prescriptions, and diagnoses from various healthcare providers such as hospitals, doctors, laboratories and lab reports. Kalyan Kendras, Advancing Digitization of Health Services.
Poonawala Fincorp Reduces Job Offer Time by 90 Percent with AI
Poonawala Fincorp Limited, a non-banking finance company promoted by the Cyrus Poonawala Group, has launched an initiative by integrating Artificial Intelligence (AI) into its Human Resources (HR) strategic business unit.
This integration has dramatically accelerated HR processes, reducing the time it takes to finalize job offers from nearly ten days to under one—a 90% reduction. Advanced AI tools facilitate faster document verification and candidate screening, improving recruitment cycles and significantly cutting operational costs.
Puonawalla Fincorp has integrated AI to improve efficiency while maintaining a personal touch in its HR processes. AI is used to speed up recruitment significantly, with rapid candidate matching, instant document verification, efficient candidate processing, automated job posting, and real-time screening.
The HR team is also developing a WhatsApp-powered AI bot system to enhance the employee experience by providing instant support for queries related to leave, salary, policies, and benefits. Partnering with IIT Bombay for leading AI implementations, this integration helps make more accurate, fair, and informed hiring decisions.