Kotak Alt’s New Moves, Blue Energy Motors’ EV Plant, and Perplexity’s Free Plan

Kotak Alt has successfully completed the first close of its Life Sciences Fund with INR 250 Cr. Meanwhile, Blue Energy Motors is investing INR 3,500 Cr to develop an EV truck manufacturing plant. Additionally, Perplexity is providing free subscriptions to IIT Madras students, supporting their educational initiatives.

Grab your simmering cup of StartupChai.in and unwind with our hand-brewed memes.

“Ek Kadam Safalta Ki Aur”: Blue Energy Motors Sets Aside INR 3,500 Cr To Build EV Truck Manufacturing Plant

Blue Energy Motors has committed INR 3,500 Cr to establish an electric vehicle truck manufacturing plant in Maharashtra.

This facility aims to produce advanced EV trucks, addressing the increasing demand for sustainable transportation options. This investment reflects a significant step towards a more environmentally responsible future in the logistics sector.

Read more here

“BIlkul Free Free Free”: Perplexity Rolls Out Free Subscription To IIT Madras Students

Perplexity Pro has announced free subscriptions for all students, faculty, and staff at IIT Madras, marking the start of its planned expansion across Indian campuses.

This initiative is particularly meaningful, as IIT Madras is the alma mater of one of the team members, adding a personal connection to this development. It presents an opportunity for the academic community to benefit from valuable resources and tools.

Read more here

“Zindagi Gulzar Hai”: Kotak Alt Marks First Close Of Its Life Sciences Fund At INR 250 Cr

Kotak has recently announced the first close of its Life Sciences Fund at INR 250 Cr, aiming for a total corpus of INR 1,600 Cr (approximately $185 Mn). This fund has garnered participation from family offices, ultra-high-net-worth individuals, and seasoned industry veterans, reflecting a serious interest in the life sciences sector.

The focus will be on investing in early to growth-stage startups involved in critical areas such as medical devices, digital health, and consumer wellness, highlighting the importance of innovation in healthcare.

Read more here

1. ArisInfra has successfully raised INR 80 Cr through a pre-IPO placement by selling over 36 lakh equity shares at INR 222 each. This move highlights their strategic valuation approach and ambitious vision for the future.

   Read more here

2. Agritech startup Arya.ag has secured $30 million in debt funding from HSBC, amounting to around INR 259.4 Cr. This funding is backed by GuarantCo, highlighting confidence in Arya.ag's growth potential in the agritech sector.
   Read more here

3. Infra.Market has successfully raised INR 1,050 Cr (approximately $121 Mn) in its pre-IPO round, achieving a valuation of around $2.8 Bn. This Series F funding saw participation from notable investors like Tiger Global and Nikhil Kamath, showcasing confidence in the company's future.
   Read more here

4. Eximius Ventures has launched its second fund, targeting $30 million for pre-seed investments. Fund II aims to invest in 25-30 companies across sectors like fintech and AI, with initial checks of $500K and plans for follow-on funding to support promising startups.
   Read more here

5. Ati Motors has secured $20 million in Series B funding to enhance industrial automation through AI, led by Walden Catalyst Ventures and NGP Capital. The investment round also attracted support from existing investors like True Ventures and Blume Ventures, reflecting strong confidence in their innovative approach.
   Read more here

6. VuNet has raised INR 60 Cr (approximately $6.94 Mn) in the first close of its Series B funding round, led by Pravega Ventures. The company focuses on helping financial institutions optimize their IT operations and enhance customer journeys through AI-based observability solutions.
   Read more here

7. Proptech startup Landeed has secured $5 Mn (INR 43.1 Cr) in a new funding round led by 10x Founders Fund. This investment aims to enhance its AI and ML capabilities, with participation from notable investors like Oliver Jung and the founders of Snapdocs and Onboard.
   Read more here