Deal Roundup [01 July 2025]
Collating the deals announced in the past 24 hours
Consumer
Bambrew has raised ~USD 10 Mn (INR 90 Cr.) in funding led by Ashok Goel with Japanese venture capital firm Enrission India Capital. The proceeds will be utilized to accelerate innovation, scale manufacturing, and expand its presence in global markets, including the Middle East and North America.
Agritech startup Eeki has raised USD 7 Mn (INR 60 Cr.) in Series A2 funding led by Sixth Sense Ventures. The company plans to deploy the freshly raised capital to expand its farming footprint, research & development, and accelerate its tech stack.
Garaaz has raised USD 531k (INR 4.6 Cr.) in Seed funding from GVFL. The startup plans to expand across states, improve R&D and tech infrastructure, and build a scalable support and logistics network.
DARE (Defence, Aerospace, Robotics and Emerging Technology)
Loopworm, a biomanufacturing company developing insect-derived proteins, has raised USD 3.25 Mn (INR 27.8 Cr.) in Pre-Series A funding. The latest funding was led by WaterBridge Ventures, an existing investor, and Enrission India Capital.
Deep-tech space startup Astrophel Aerospace has raised USD 798k (INR 6.8 Cr.) in Pre-Seed funding from a group of angel investors and venture firms. The startup will use the funds to build a prototype of its reusable semi-cryogenic launch vehicle and to expand in-house R&D efforts focused on building advanced missile-grade guidance and propulsion systems.
HPL (Healthcare, Pharmaceutical and Lifesciences)
Biopharma startup Lamark Biotech has raised USD 759k (INR 6.5 Cr.) in Pre-Series A funding led by the IAN Group, which included the IAN Alpha Fund, BioAngels and others. The fresh funds will be utilized to accelerate the development of thermostable insulin and expand the biologics platform for global access.
TMT (Technology, Media and Telecom)
Zango AI, a regulatory compliance platform, has raised USD 4.8 Mn (INR 41 Cr.) in Seed funding led by Nexus Venture Partners. The company will use the capital to grow its teams, and to develop advanced modules within its AI-driven governance, risk, and compliance suite.
Consumer
MMGY Global, the world’s leading integrated marketing and communications firm specializing in travel, tourism and hospitality, announced the acquisition of Think Strawberries (TS), a premier travel representation and marketing brand. Headquartered in India with a robust presence across the Gulf Cooperation Council (GCC) region.
Tractors And Farm Equipment (TAFE) to buy back stake from AGCO for USD 260 Mn, ending 15 months dispute.
Manufacturing
Lloyds Metals and Energy has completed the acquisition of 79.82% equity stake in Thriveni Earthmovers and Infra for INR 70 Cr..
Megasoft board approves sale of 36.52% stake in Extrovis to Refex Life Sciences for USD 15 Mn.
Huhtamaki India, a unit of Finland-based packaging company Huhtamaki Group, is looking at M&A deals in India. Huhtamaki is scouting for packaging companies in India that have already scaled up, and has earmarked around USD 400 Mn - USD 500 Mn to fund its inorganic growth plans, but the company can also raise debt to finance deals.
Melting Pot Concepts, an India-based health and nutrition supplements maker, is targeting a maiden funding round of INR 200 Cr. - INR 250 Cr. (USD 23.3 Mn - USD 29.2 Mn). The company will use the funds mainly for hiring and marketing, and a smaller amount for production and R&D.
SpeakX is planning to raise up to USD 15 Mn in a new funding round. The proceeds will be used to build AI and technology.
About the writer:
Nihar is an investment banker specializing in fundraising and M&A advisory for mid-market consumer and technology companies. As part of his mission to help promising businesses in India access private capital for their growth, he started this newsletter to raise awareness about startups, private equity and simplify the commonly used business jargon.
Disclaimer - This document presents a summary of deals that have been closed and announced, based on publicly available information. The analysis within the document is based on certain assumptions where necessary. For instance, deals have been categorized by sector and funding stage according to these assumptions. If different assumptions were applied, the results and observations might differ. Therefore, this document should not be used as a substitute for comprehensive and specific advice. Nihar Khandelwal will accept no responsibility for the accuracy of the information, any errors, or any decisions or losses incurred by readers relying on this document. The sources used for coverage includes Economic Times, Entrackr, Livemint, VC Circle, Financial Express, The Arc, Private Circle and Inc42 among other public sources.