The Tech Panda takes a look at recent funding events in the tech ecosystem, seeking to know where the cash is flowing.
Startup: IIRM Holdings India Ltd
Sector: Insurance
Amount: INR1,500 Million
Led by: Carpediem Capital and Sanshi Fund – I
IIRM Holdings India Ltd, the holding company of a leading insurance distribution and risk advisory group with operations across India, Singapore, Sri Lanka, the Maldives and Kenya, announced a INR1,500 million strategic capital raise through a combination of Equity Shares and Fully Convertible Warrants at a price of INR143.28 per security, subject to shareholder and regulatory approvals. The issue is subject to the approval of the shareholders of the Company and such other statutory, regulatory and governmental approvals, permissions, consents and sanctions as may be required. The investment is being led by Carpediem Capital and Sanshi Fund – I.
“IIRM has built a high-quality, scalable platform in a large, underpenetrated market. Industry is poised for a consolidation play with many small to mid-sized players, and we believe IIRM is well positioned to be among the front runners in this space.” said, Hithendra Ramachandran, Co-Founder & MD, Carpediem Capital.
“IIRM’s strong fundamentals, experienced management and clear direction make it a compelling growth story. We are delighted to support its journey as a leading regional insurance distribution group”, said Saranya Agarwal, Founder, Sanshi Fund – I.
Startup: 90+ My Tuition App
Sector: EdTech
Amount: Undisclosed
Led by: Equity Intelligence
90+ My Tuition App, a Bengaluru-based K-12 education company, has announced a strategic investment from Equity Intelligence, the investment firm led by renowned investor Porinju Veliyath. The investment will support the company’s ambitious national expansion plans and the development of its next-generation AI Teacher Programme.
Porinju Veliyath said, “I have always believed in backing businesses with strong fundamentals, clear vision, and the potential to create long-term value. 90+ My Tuition App stands out for its outcome-driven model and its thoughtful use of technology and AI to improve learning outcomes at scale. We are pleased to support its next phase of growth as it expands its impact across India.”
“Our vision has always been to build India’s most trusted K-12 tuition ecosystem”, said Vingish Vijay, Founder of 90+ My Tuition App. “This strategic investment from Equity Intelligence is a significant milestone in our journey. It will enable us to expand our presence across India, strengthen our technology platform, and accelerate the development of AI-powered teaching solutions that will redefine personalized learning.”
Startup: SAVE Microfinance Pvt. Ltd
Sector: Microfinance
Amount: INR55 Crore
Led by: Indian Overseas Bank (IOB) & Northern Arc Capital
SAVE Microfinance Pvt. Ltd., a microfinance institution committed to advancing financial inclusion across India, successfully raised INR40 crore in debt funding, comprising INR25 crore from Indian Overseas Bank (IOB) and INR15 crore from Northern Arc Capital. The funding will strengthen the company’s lending capacity and support its mission of expanding access to responsible financial services for underserved communities, particularly women entrepreneurs and rural households.
The fresh funding will be utilized to scale the company’s microfinance operations, enhance customer outreach, and meet the growing demand for affordable credit across its operational geographies. The funding further reinforces the confidence of leading financial institutions in SAVE Microfinance’s robust business model, prudent governance, and sustainable growth strategy.
Pintu Kumar Singh, Chief Financial Officer, SAVE Microfinance Pvt. Ltd., said: “We are grateful to Indian Overseas Bank and Northern Arc Capital for their continued trust and partnership. This funding reflects the confidence of leading financial institutions in our financial discipline, portfolio quality, and governance standards. It will further strengthen our ability to expand responsible lending, deepen our outreach, and empower more underserved families and entrepreneurs with timely access to credit. We remain committed to sustainable growth while maintaining strong risk management and operational excellence.”
Startup: Aquapulse
Sector: AgTech
Amount: INR45 Crore
Led by: NABVENTURES
IAN Group, the early-stage investment platform, through IAN Alpha Fund, has participated in the successful closure of Aquapulse’s INR45 crore funding round, led by NABVENTURES through its AgriSURE Fund. The company plans to deploy the fresh capital to strengthen farm-level technology and disease management systems, expand its farmer procurement network across eastern India, scale processing and export operations, and build working capital infrastructure to support its growing global business.
Sarika Saxena, Managing Partner, IAN Alpha Fund, said, “We invest in scalable, execution-driven companies that bridge critical market gaps. Aquapulse stood out immediately due to their deep understanding of the aquaculture ecosystem and a ground-level operational model that drives genuine value for both vendors and customers. By building a seamless ‘farm-to-port’ platform, Abhishek and Abhilash are matching dynamic international demand with unparalleled transparency, traceability, and market access. Aquapulse perfectly aligns with our fund’s thesis: backing innovative solutions that solve real-world problems at scale.”
Abhishek Dwivedy, Co-Founder, MD & CEO, Aquapulse, said, “This round is a vote of confidence in the smallholder shrimp farmer. The capital lets us deepen the aquapreneur cluster model, strengthen pre-harvest technology at the pond, and scale processing and exports without losing the farmer-first discipline we started with. We are not trying to replace the existing value chain overnight. We are trying to organise it — pond by pond, cluster by cluster — so that quality, traceability and farmer income all move in the same direction.”
