India Investment Deals August 2026: PE, VC & M&A Updates

Bank of America has agreed to invest up to USD 1.92 billion (around INR 18,268
crores) in Jio Credit, the non-bank lending arm of Jio Financial Services, initially
acquiring a 26.5% stake with the potential to increase its holding to 49.9% through
warrants. Under the transaction, Jio Credit will issue equity shares worth up to USD
695 million (around INR 6,613 crores) and warrants worth USD 1.23 billion (around
INR 11,655 crores) to BofA through a preferential allotment, valuing Jio Credit at
approximately USD 3.8 billion (around INR 36,100 crores). The partnership will
combine Jio Financial Services’ scale, digital capabilities and customer base with
BofA’s global financial expertise, providing Jio Credit with additional capital to
support its expansion. Jio Credit’s AUM has crossed USD 3 billion (around INR
28,500 crores) within two years of operations, highlighting its rapid growth. The
transaction reinforces Jio Financial Services’ strategy of partnering with global
financial institutions across its lending, insurance, payments and asset management
businesses. It also comes amid increasing foreign investment in India’s rapidly
expanding banking and NBFC sector, as global lenders seek exposure to the
country’s strong credit growth. The partnership is expected to further strengthen Jio
Credit’s ability to expand its lending portfolio and reach a broader customer base
across India.
(Source: VC Circle, 13 th August 2026)

 Private Equity
KKR Expands India Healthcare Platform With $1.4 Bn Medicover Deal
US private equity firm KKR has agreed to acquire 100% of Swedish healthcare
provider Medicover AB’s India hospital business at an enterprise value of USD 1.4
billion (around INR 13,190 crores). Medicover India operates 24 multi-specialty
hospitals with approximately 4,800 beds across South and West India. The
acquisition marks KKR’s largest healthcare investment in India and will further
strengthen its hospital platform, alongside its existing investments in Baby Memorial
Hospital and Healthcare Global Enterprises. KKR plans to leverage the platform to
expand its presence in India’s healthcare sector and enhance clinical, technological
and infrastructure capabilities.
(Source: VC Circle, 6 th August 2026)

Keertana Finserv Raises $24 Mn In Maiden External Funding Round
Hyderabad based NBFC Keertana Finserv has raised USD 24 million (around INR
230 crores) from asset management firm Neo Wealth Partners in its first external
equity funding round, primarily through compulsorily convertible preference shares
(CCPS). The capital will strengthen its balance sheet and support expansion of its
gold loan business, including branch network expansion and entry into new markets.
The company will also invest in technology, operational infrastructure and enhanced
product and customer offerings.
(Source: VC Circle, 17 th August 2026)

Tata Group's Nelco Bets On Satellite Communications Firm Elveo Mobile
Mumbai listed Nelco, the satellite communications arm of the Tata Group, has
invested USD 20 million (around INR 191 crores) in Elveo Mobile through
compulsorily convertible debentures (CCDs), carrying a 7% annual compounded
return. The investment is aimed at establishing a long-term partnership for the
provision and commercialisation of satellite-based direct-to-device (D2D), IoT and

related communication services in India and other markets. Elveo Mobile, formed
through the merger of Lynk Global and Omnispace, is developing a non-
geostationary satellite network to provide mobile connectivity directly to phones and
connected devices.
(Source: VC Circle, 17 th August 2026)

Bharat Value Fund Invests In Ethnic Sweets Brand Dharwad Pedha
Bharat Value Fund, managed by The Wealth Company, has invested USD 31.3
million (around INR 300 crores) in ethnic sweets and snacks brand Dharwad Big
Mishra Pedha to support its transition from a regional brand to a national food
platform. The company plans to expand its portfolio of nearly 700 SKUs across
sweets, namkeen and bakery products, while scaling its restaurant and bakery
formats across India. With over 200 exclusive outlets and around 10 million
customers annually, the company aims to add 100 outlets and enter more than 50
new cities over the next two years.
(Source: VC Circle, 18 th August 2026)

Sachin Bansal Led Navi Raises $100 Mn From Prosus
Bengaluru based financial services company Navi Ltd. has raised USD 100 million
(around INR 950 crores) from Dutch technology investor Prosus, marking the
company’s first significant external equity investment after being largely funded by
founder Sachin Bansal and debt. Navi offers digital financial services including
personal and home loans, insurance, mutual funds and UPI payments, with its
lending arm Navi Finserv’s AUM crossing $1.36 billion (around INR 13,000 crores) in
FY26. The investment will support Navi’s continued growth and expansion across its
financial services businesses. The transaction remains subject to customary closing
conditions and regulatory approvals, including clearance from the Competition
Commission of India.
(Source: VC Circle, 19 th August 2026)

 Venture Capital
Water Raises $2.5 Million in Funding
Hyderabad-based physical AI startup Water has raised $2.5 million (around INR 23
crores) in a funding round led by Endiya Partners, with participation from Pullela
Gopichand, Rohit Chennamaneni, Nandan Reddy and other angel investors.
Founded by Teja Vinukollu and Haneesh Mourya Desu, the company is developing
adaptive products such as FLOW, an intelligent chair, and CAMA, an adaptive bed,
powered by its VORTEX AI model. The funds will support further technical validation
and product development, with the company having already developed a near-
production-ready adaptive sleep system and filed a foundational safety patent.
(Source: VC Circle, 24 th August 2026)

Third Wave Coffee Raises $43 Mn in Series D Funding
Homegrown coffee chain Third Wave Coffee has raised $43 million (around INR 408
crores) in a Series D round comprising primary and secondary capital, led by existing
investor WestBridge Capital, with participation from Creagis and other individual
investors. The company plans to use the funds to expand its geographic presence,
strengthen its footprint in high-potential cities and accelerate its Third Rush Desserts
business. Founded in 2016, Third Wave currently operates over 240 cafés across
India and aims to reach 320 cafés by the end of the fiscal year.
(Source: VC Circle, 24 th August 2026)

Airbound Bags Early Stage Funding
Airbound, a Bengaluru-based aerospace startup founded in 2023, has raised $37
million (around INR 348 crores) in Series A funding led by Greenoaks, taking its total
funding to nearly $50 million. (around INR 470 crores) The company is developing
autonomous transport aircraft and plans to use the funds to scale engineering,
manufacturing and go-to-market activities. It has completed over 1,000 autonomous
flights for Narayana Health and signed an agreement with the Andhra Pradesh
government to develop a drone delivery network, with plans to scale to 10,000 daily
flights across healthcare, retail and e-commerce.
(Source: VC Circle, 25 th August 2026)

Nexedge Capital Raises $20 Million in Maiden Funding Round
Nexedge Capital, a New Delhi-based wealth management and multi-family office firm
founded in February 2025 by Anirudh Taparia, has raised $20 million (around INR
188 crores) in its maiden funding round led by Mirae Asset Venture Investment and
Elev8 Venture Partners. The company, which has scaled to over $3 billion (around
INR 28,626 crores) in assets under management across around 1,300 clients, plans
to use the capital to strengthen its technology platform and expand its senior banker
network and presence across India, particularly in Tier II and III cities.
(Source: VC Circle, 25 th August 2026)

Utsav Raises $3.8 Mn in Series A Funding
Kolkata-based religion-tech and puja booking platform Utsav has raised $3.8 million
(around INR 36 crores) in a Series A round led by Atomic Capital, with participation
from existing investors India Quotient and Equanimity Investments. Founded by
Sourajit Basu, Ankita De and Prajata Samanta, Utsav enables devotees to book
temple pujas, receive e-prasad and consecrated prasad, consult verified pandits and
participate in rituals remotely. The company plans to use the funds to expand its
temple network, enhance personalisation, improve fulfilment and logistics, and
strengthen services for the Indian diaspora.
(Source: VC Circle, 25 th August 2026)

 Mergers & Acquisitions
KKR-Backed Advanta To Acquire Egypt-Based Seed Company
KKR-backed global seeds platform Advanta Enterprises is set to acquire Egypt-
based seed company Misr Hytech Seed International for $110 million (around INR
1,051 crores), strengthening its presence in the Middle East and Africa. The
acquisition will give Advanta a leadership position in the region’s white and yellow
corn seed market and expand its seed portfolio and regional footprint. Advanta will
acquire a 99.98% stake in Misr Hytech through its holding company, subject to
regulatory approvals. The transaction is expected to close by January 31, 2027 and
forms part of Advanta’s strategy of expanding its global seeds business through
acquisitions.
(Source: VC Circle, 17 th August 2026)

Jubilant Ingrevia to Acquire 40% of Zettaone for $19.8 Mn
Jubilant Ingrevia Ltd has entered into a binding agreement to acquire a 40% stake in
Noida-based electronics design and manufacturing company Zettaone Technologies
for $19.8 million (around INR 189.2 crores) in cash. The transaction, structured in

two tranches expected to close by November 2026 and September 2027, will make
Zettaone an associate company of Jubilant Ingrevia. Zettaone provides end-to-end
electronics product development and manufacturing services across aerospace,
defence, semiconductor, automotive and healthcare sectors. The acquisition aligns
with Jubilant Ingrevia’s “Pinnacle” growth strategy and marks its entry into
Electronics Development and Manufacturing Services (EDMS)
(Source: VC Circle, 19 th August 2026)

Yantra Packs Raise Seed Funding
Gurugram-based reusable packaging startup Yantra Packs has raised $1.2 million
(around INR 12 crores) in a seed funding round from Caret Capital to expand its
reusable packaging asset pool and strengthen its technology platform, Trakkia. The
company provides reusable pallets, crates, containers and other returnable transport
items to enterprises through a packaging-as-a-service model. Yantra Packs currently
serves over 30 enterprise customers, with more than 250,000 containers in
circulation across eight warehouses and over 100 customer touchpoints. The fresh
capital will also support expansion across key manufacturing clusters and strengthen
its asset management, logistics, maintenance and team capabilities.
(Source: VC Circle, 20 th August 2026)

TCS to Acquire Porsche’s MHP for $320 Mn
Tata Consultancy Services (TCS) will acquire Porsche AG’s automotive and
consulting unit MHP for an enterprise value of $320 million (around INR 3008
crores), with the transaction expected to close within 3-4 months. The acquisition
forms part of a broader five-year partnership under which Porsche has committed
$1.46 billion to TCS and MHP for AI deployment across engineering, manufacturing,
operations and customer experience, as well as automotive technology and
software-defined mobility platforms. The deal is expected to strengthen TCS’s
automotive capabilities and add to revenue, while having a broadly neutral impact on
its stock, according to analysts.
(Source: VC Circle, 24 th August 2026)

Hero MotoCorp To Increase Stake In Ather With $184 Mn Share Purchase
Hero MotoCorp has agreed to acquire additional shares in electric scooter maker
Ather Energy for up to $184 million (around INR 1,758 crores) from an existing
shareholder, increasing its stake from 29.88% to approximately 32.8%. The
investment comes shortly after Ather allotted convertible warrants worth $100 million
(around INR 960 crores) to Hero MotoCorp through a separate preferential issue.
The transaction will further strengthen Hero MotoCorp’s position in India’s rapidly
expanding electric two-wheeler market. Ather has recently reported improved
financial performance, with a significantly narrower loss in the first quarter driven by
strong demand for its family oriented electric scooter offerings.
(Source: VC Circle, 28 th August 2026)