From Bollywood actress Shipa Shetty joining lab-grown diamond startup Limelight to how Accel and Saama Capital are set to earn sizeable gains from Bluestone’s IPO, YourStory brings today’s headlines that highlight significant developments across the ecosystem.
Featured stories:
How Upsparks Capital carved out a niche in India’s pre-seed investments
Bengaluru-based proprietary venture capital firm Upsparks Capital has quietly emerged as a significant force in India’s early-stage startup ecosystem.
Since 2020, the proprietary fund has deployed Rs 57 crore across 65 investments, maintaining a sharp filter with an acceptance rate below 3% of evaluated startups, said a top executive in an interaction with YourStory.
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Other stories:
Accel, Saama Capital set for sizeable gains in Bluestone IPO
Accel India and Saama Capital are set to be the biggest beneficiaries from Bluestone’s initial public offering, with both early backers set to pocket hefty gains from sizeable stake sales.
The omnichannel jewellery retailer is offering shares in the price band of Rs 492–Rs 517, promising multi-bagger returns for its venture investors.
Among the biggest beneficiaries are Accel India and Saama Capital, who are set to offload sizeable stakes in the offer for sale (OFS).
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Funding stories:
Graas.ai raises $9M pre-Series B round to launch agent foundry for ecommerce automation
Graas.ai, an AI-native data and automation company for ecommerce, has raised over $9 million in a pre-Series B round led by Tin Men Capital, with participation from Incred Wealth, Orzon, and returning investors Integra Partners and Yuj Ventures.
The fresh capital will accelerate the rollout of Agent Foundry in India—a proprietary environment for developing autonomous agents that tackle pressing commerce challenges, from customer acquisition costs and pricing optimisation to margin protection and inventory management.
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Truemeds raises $85M to target non-metro markets
Epharmacy and telehealth platform Truemeds has raised $85 million in Series C funding to accelerate its push into smaller cities and towns.
The financing, completed in two tranches, was led first by Accel and later by Peak XV Partners, with continued backing from WestBridge Capital and Info Edge Ventures.
The Mumbai-based company said the capital will go toward tripling its national reach by adding fulfillment centers in high-demand non-metro markets, hiring top-tier engineering and product talent, and opening a new technology hub in Bengaluru.
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Eyestem raises funds to advance Phase 2 clinical trial for its RPE cell therapy
Biotechnology startup Eyestem Research on Monday raised an undisclosed amount of funds in an “oversubscribed funding round”, according to the company.
The newly raised funds will be used to advance the next stage of development for its investigational retinal pigment epithelial (RPE) cell therapy and enable completion of its ongoing Phase 2 clinical trial in India.
It will also use a portion of the funds to file for an investigational new drug (IND) application with the US Food and Drug Administration (FDA).
Other news:
Ranveer Singh-backed SuperYou launches clean-label protein powders
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Ranveer Singh
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Protein bar maker, SuperYou, has forayed into the protein supplements category with SuperYou Pro—a range of clean-label protein powders powered by bio-fermented yeast protein technology.
This is the company third product launch after its protein wafers and multigrain chips, which together have sold over 80 lakh units across India since launch.
The product is priced at Rs 3,000 per kg and it aims to capture its customers through its strong omnichannel presence, across ecommerce platforms, quick commerce platforms and stores.
Shunya Agritech signs MoU with ICAR-IIMR to conduct joint research on green fodder
Animal nutrition startup Shunya Agritech on Monday signed a memorandum of understanding (MoU) with the Indian Council of Agricultural Research – Indian Institute of Maize Research (ICAR-IIMR), Ludhiana to conduct joint research on hydroponic-based maize green fodder.
As part of the MoU, Shunya and ICAR-IIMR will collaborate on research through the setup of a hydroponics unit at the ICAR-IIMR Delhi campus.
This unit will be used to experiment with various maize hybrid varieties, focusing on their rapid growth and biomass potential. The partnership will also include in-depth studies to develop optimised protocols for different stages of the growing process, including pest and disease management.
