Deal Roundup [10 April 2025]
Collating the deals announced in the past 24 hours
Consumer
Mosaic Wellness, the parent firm of Man Matters, Boywise, and Little Joys, has raised USD 20 Mn (INR 175 Cr.) in funding from Think Investments. The proceeds will be used for growth, expansion, and general corporate purposes.
Bower School of Entrepreneurship has raised USD 1.3 Mn (INR 11.5 Cr.) in Seed funding from HNIs and Astir Ventures. The proceeds will be used to support the development of an AI-powered course builder platform, new partnerships with industry players, and physical campuses in Southeast Asia, the Middle East, Europe, and the USA.
TMT (Technology, Media and Telecom)
Yethi Consulting, a provider of engineering solutions to the BFSI industry, has raised undisclosed funding led by Baring Private Equity Partners India, with participation from existing investors. The fresh funding will help the company enhance its work automation and AI-driven quality assurance solutions tailored for financial institutions.
Xindus has raised USD 10 Mn (INR 86 Cr.) in Series A funding. The funding was led by 3one4 Capital, co-led by Orios Venture Partners. The capital will be used to scale Xindus’ operations.
Tessell has raised USD 60 Mn (INR 516 Cr.) in Series B funding led by WestBridge Capital. The company intends to use the capital to accelerate its go-to-market expansion and research and development in AI-powered data management within the evolving enterprise data ecosystem.
Interactive spiritual-tech platform AskMyGuru has raised USD 1.2 Mn (INR 10 Cr.) in Seed funding led by interactive media and gaming VC fund Lumikai. The proceeds will be utilized to enhance the product roadmap, advance its proprietary Ved Vyas AI engine, and expand language support beyond English, Hindi, Kannada, Tamil, and Telugu.
Drive FITT has raised undisclosed funding from Australian cricketer Glenn Maxwell. The proceeds will be used to enhance training methodologies, develop athlete-focused programs, and expand the brand’s presence in the Indian fitness market.
Walko Food Co – the operating company of the NIC brand of ice cream based out of Pune, India – is seeking to raise between USD 30 - 40 Mn in the company’s third funding round.
ASG Hospital has received around INR 288 Cr. (USD 33.4 Mn) in fresh funding from existing investors Kedaara, General Atlantic, Sky Impact and Symphony Asia.
Capgemini has emerged as the frontrunner to acquire WNS Holdings.
Axles India 24.16% stake to be acquired by Sundaram Finance Holdings from Dana.
Alpha Wave Global is in the fray to potentially buy a significant stake in Nxtra Data, the data center business of Indian telecom company Bharti Airtel. Alpha Wave Global is competing against rival bidder DigitalBridge Group as the only two bidders remaining for Carlyle's stake.
The Good Glamm Group In Talks To Sell MissMalini.
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 and Inc42 among other public sources.