Cube Highways Trust Secures $131.6 Mn Pre-IPO Investment
\nPremji Invest, the family office of Wipro founder Azim Premji, has invested $100
\nMillion (around INR 950 crores) in Cube Highways Trust as part of a $131.6 Million
\n(around INR 1,250 crores) strategic investor round ahead of the InvIT's $526 Million
\n(around INR 5,000 crores) initial public offering (IPO). The pre-IPO placement also
\nattracted investments from HDFC Life Insurance, HDFC Pension Fund Management,
\nAxis Max Life Insurance, and WhiteOak Capital REIT & InvIT Alternatives Fund I,
\nreflecting strong institutional confidence in the infrastructure investment trust. The
\nIPO, comprising entirely an offer-for-sale (OFS) by existing unitholders including I
\nSquared Capital, Mubadala Investment Company, and British Columbia Investment
\nManagement Corporation (BCI), will facilitate Cube Highways Trust's transition from
\na privately listed to a publicly listed InvIT, enabling access to a broader investor base
\nand additional sources of capital. As of March 31, 2026, the InvIT manages 27
\noperational road assets across 12 Indian states and one Union Territory, covering
\n8,754 lane kilometres, with assets under management of $3.87 billion (around INR
\n36,842 crores) and an average residual concession life of 18 years.
\n(Source: VC Circle, 14 th July 2026)
\n\uf0d8 Private Equity
\nVitruvian Partners in Talks to Invest in Linux Laboratories
\nGlobal investment firm Vitruvian Partners is in advanced discussions to acquire a
\nsignificant stake in Linux Laboratories Pvt. Ltd., a Chennai-based domestic
\nformulations manufacturer focused on central nervous system (CNS) therapies. The
\ncompany is reportedly looking to raise around $70 million (Around INR 674 crores)
\nthrough a funding round comprising both primary and secondary components.
\nBacked by Tata Capital Healthcare Fund, Linux Laboratories has appointed Avendus
\nCapital to manage the fundraising process, with other private equity firms including
\nChrysCapital, Creador, and Investcorp also having expressed interest in the
\ntransaction.
\n(Source: VC Circle, 16 th July 2026)
\nNeo Group Raises $36.8 Mn to Accelerate Growth
\nNeo Group, a Mumbai-based wealth and asset management firm, has raised $36.8
\nMillion (around INR 350 crores) in a funding round led by existing investor Peak XV
\nPartners, following a recent $58 Million (Around INR 550 crores) capital infusion from
\nTVS Capital. The company plans to use the proceeds to strengthen its technology
\nplatform, expand its talent base and develop new products as it scales across India.
\nAs of 30 June 2026, Neo Group manages approximately INR 1.3 trillion in client
\nassets with a focus on alternative investment strategies including private credit,
\ninfrastructure and private equity.
\n(Source: VC Circle, 16 th July 2026)
\nBain Capital to Acquire Vitabiotics and Its Indian Unit
\nBain Capital has agreed to acquire Vitabiotics, the UK-based nutritional supplements
\nmanufacturer, including its Indian subsidiary Meyer Organics, as part of its
\ninternational expansion strategy. While the financial terms were not disclosed, Bain
\nwill support the company through investments in digital capabilities, e-commerce,
\ninternational distribution, supply chain resilience and product development.
\nVitabiotics will continue operating under its existing brand while accelerating growth<\/p>\n
across key markets, including India, the Middle East & North Africa (MENA), China
\nand Africa, with Bain's Asia private equity team leading the investment.
\n(Source: VC Circle, 24 th July 2026)
\nPrime Pharmaceuticals Raises $14.7 Mn
\nMumbai-based Prime Pharmaceuticals Pvt. Ltd. has raised $14.7 Million (around
\nINR 140 crores) in its first external fundraise through a convertible instrument,
\nreportedly backed by DMI Finance Pvt. Ltd. Established in 1968, the company
\nmanufactures generic, specialty and OTC medicines, exporting finished formulations
\nto over 50 countries. The proceeds will be used to strengthen R&D capabilities,
\nexpand its consumer healthcare business, and accelerate growth in developed
\nmarkets. The company opted for a convertible structure to balance its funding
\nrequirements while deferring immediate equity dilution.
\n(Source: VC Circle, 31 st July 2026)
\nMahindra Last Mile Mobility Raises $33 Mn at Unicorn Valuation
\nMahindra Last Mile Mobility Ltd. (MLMML), the electric three-wheeler subsidiary of
\nMahindra & Mahindra, has raised $33 Million (around INR 322 crores) in a funding
\nround led by Lightrock, with participation from existing investors IFC and the India-
\nJapan Fund (IJF) through pre-emptive rights. The transaction values MLMML at a
\npost-money equity valuation of approximately $1.1 billion (around INR 10,822
\ncrores), making it a unicorn. The fundraise will be completed in tranches, subject to
\nregulatory approvals, and is expected to reduce Mahindra & Mahindra's shareholding
\nfrom 78.11% to 75.79%.
\n(Source: VC Circle, 31 st July 2026)<\/p>\n
\uf0d8 Venture Capital
\nAge Care Labs Snags Series B Cheque, Ties Up With Shrem For Senior Living
\nPlatform
\nAge Care Labs, the parent company of Emoha and Epoch Elder Care, has raised $9
\nmillion (around INR 85 crores) in the first tranche of its Series B funding round, led
\nby Shrem Group, with participation from Rainmatter, Pegasus Finvest and other
\ninvestors. The company plans to raise a total of $26 million (around INR 250 crores)
\nas part of the broader Series B round and will utilise the proceeds to expand its
\neldercare platform, enhance healthcare and technology capabilities and scale its
\nservices across India.
\n(Source: VC Circle, 02 nd July 2026)
\nEconovus Packaging Snag Funding
\nPune-based engineered sustainable packaging company Econovus Packaging has
\nraised $4.2 million (around INR 40 crores) in its pre-Series A funding round, led by
\nRainmatter, with participation from Rockstud Capital. The company will utilise the
\nproceeds to strengthen its presence in high-growth sectors, including automotive,
\nlithium-ion batteries, solar infrastructure, steel, defence and broader industrial supply
\nchains, while expanding its sustainable packaging solutions.
\n(Source: VC Circle, 07 th July 2026)
\nAukera Bag Early-Stage Cheques<\/p>\n
Premium lab-grown diamond jewellery brand Aukera has raised $9.4 million (around
\nINR 90 crores) in a funding round led by existing investor Alteria Capital, with
\nparticipation from Innoven Capital, Lighthouse Canton and an undisclosed bank. The
\nproceeds will be utilised to accelerate store expansion, strengthen its omnichannel
\npresence and invest in design, product innovation and talent. Founded in 2023, the
\ncompany has rapidly expanded its retail footprint from 13 to 35 company-owned
\nstores across multiple Indian cities, reflecting the growing demand for premium lab-
\ngrown diamond jewellery.
\n(Source: VC Circle, 10 th July 2026)
\nQuick Commerce Player Plazza Bag Early-Stage Funding
\nMedicine delivery quick commerce platform Plazza has raised $15 million (around
\nINR 145 crores) in its Series A funding round, co-led by Accel, Elevation Capital and
\nNexus Venture Partners, with participation from existing investors All In Capital and
\nBetter Capital. Founded in 2024, the pharmacy-first platform provides 15-30 minute
\nmedicine deliveries powered by AI-driven inventory intelligence. The company plans
\nto utilise the funds to strengthen its technology platform, enhance operational
\ncapabilities and expand into new geographies.
\n(Source: VC Circle, 20 th July 2026)
\nOmega Seiki Mobility Secure Funding
\nElectric commercial vehicle maker OSM (Omega Seiki Mobility) has raised $5.2
\nmillion (around INR 50 crores) in a funding round co-led by Securocorp Securities,
\nSangeeta Pareekh, Saket Aggarwal Family Office and Vanshika Sharma. The
\ncompany will utilise the funds to expand manufacturing capacity, strengthen R&D
\ncapabilities, enhance its nationwide dealer and service network and accelerate the
\nadoption of electric mobility solutions. Founded in 2018, OSM operates across
\nelectric cargo three-wheelers, passenger vehicles, premium electric two-wheelers
\nand electric light commercial vehicles.
\n(Source: VC Circle, 27 th July 2026)
\n\uf0d8 Mergers & Acquisitions
\nEmcure Acquires Full Ownership of Gennova Biopharmaceuticals
\nEmcure Pharmaceuticals Ltd. has acquired the remaining 12.05% stake in its
\nbiopharma subsidiary, Gennova Biopharmaceuticals Ltd., for $24.2 Million (around
\nINR 231.8 crores), increasing its ownership from 87.95% to 100%. The acquisition
\nreinforces Emcure's strategic focus on expanding its biologics and biosimilars
\nbusiness and is accompanied by a leadership transition, with Samit Mehta set to
\nlead Gennova's next phase of growth. The company stated that the transaction will
\nnot materially impact its capital allocation, deleveraging plans, or R&D investments,
\nwhile Gennova will continue to strengthen its biologics franchise and biosimilars
\npipeline.
\n(Source: VC Circle, 13 th July 2026)
\nZaggle To Invest In Unobanc
\nMumbai-listed fintech company Zaggle Prepaid Ocean Services Ltd. has agreed to
\ninvest $0.83 million (around INR 7.96 crores) in technology-driven cross-border
\npayments and remittances company Unobanc Pvt. Ltd. through one or more
\ntranches. Following the investment, Zaggle will acquire up to a 19.9% equity stake in
\nUnobanc. The investment will strengthen Zaggle\u2019s presence in the fintech<\/p>\n
ecosystem, while enabling access to Unobanc\u2019s digital infrastructure for cross-border
\npayments and remittance solutions through its MoneyHop platform.
\n(Source: VC Circle, 21 st July 2026)
\nGodrej Capital To Acquire Kanakadurga's Gold Loan Business
\nGodrej Capital, the financial services arm of the Godrej Industries Group, has
\nentered the gold loan segment through the acquisition of the gold loan business of
\nKanakadurga Finance for $12.1 million (around INR 117.5 crores), with an additional
\nconsideration of $1.8 million (around INR 17.5 crores) subject to fulfilment of certain
\nconditions. The acquisition will add nearly 12,000 customers, 54 branches across
\nAndhra Pradesh, and around 250 employees to Godrej Capital\u2019s platform. The
\ntransaction aligns with Godrej Capital\u2019s strategy to build a diversified financial
\nservices franchise and expand its presence across lending segments. The
\nacquisition is expected to be completed by September 30, 2026.
\n(Source: VC Circle, 22 nd July 2026)
\nWipro Consumer Acquires Good Home and Eva Brands
\nWipro Consumer Care & Lighting has agreed to acquire the Good Home and Eva
\nbrands from TTK Healthcare Ltd. For $26 Million (around INR 256 crores),
\nstrengthening its presence in the home care and personal care segments. The
\nacquisition, Wipro Consumer Care's 17th transaction, aligns with the group's
\nacquisition-led growth strategy and follows its recent agreement to acquire S Brands
\nConsumer Care Inc. in the Philippines. The Good Home brand offers household
\ncleaning and hygiene products, while Eva is a well-established personal care and
\ndeodorant brand. Both brands will continue to operate under their existing identities
\nwhile leveraging Wipro Consumer Care's extensive distribution network, brand-
\nbuilding capabilities, and market reach to accelerate future growth.
\n(Source: VC Circle, 23 rd July 2026)
\nJapan's Galilei Holdings To Acquire Stake In Ice Make Refrigeration, Form JV
\nJapan-based Galilei Holdings Co. Ltd. has announced plans to acquire a 12.36%
\nstake in Mumbai-based Ice Make Refrigeration Ltd. through an investment of $18.7
\nmillion (around INR 180 crores). The companies will also establish a technology-led
\njoint venture, Ice Make Horeca Pvt. Ltd., to manufacture and market commercial
\nrefrigeration products in India. The joint venture will be majority-owned by Galilei
\nHoldings, which will hold a 60% stake, while Ice Make Refrigeration will hold the
\nremaining 40% stake. The partnership is expected to support capacity expansion,
\ntechnology enhancement and long-term growth in India\u2019s refrigeration and cold-chain
\nsector. The venture will initially focus on manufacturing and distribution of
\ncommercial refrigerators, ice makers,<\/p>\n","protected":false},"excerpt":{"rendered":"
Cube Highways Trust Secures $131.6 Mn Pre-IPO Investment Premji Invest, the family office of Wipro founder Azim Premji, has invested $100 Million (around INR 950 crores) in Cube Highways Trust as part of a $131.6 Million (around INR 1,250 crores) strategic investor round ahead of the InvIT's $526 Million (around INR 5,000 crores) initial public offering (IPO). The pre-IPO placement<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[20],"tags":[],"class_list":["post-3160","post","type-post","status-publish","format-standard","hentry","category-corporate-finance"],"yoast_head":"\n