Startup Funding

Banking infrastructure startup Knight Fintech raises $23.6 million from Accel, IIFL, others

Mumbai-based banking infrastructure startup Knight Fintech has raised $23.6 million in a funding round led by Accel , with participation from IIFL and Rocket Capital. Existing investors Prime Venture Partners, 3One4 Capital, Commerce VC and Trifecta Capital also took part. Founded in 2019, Knight Fintech builds core infrastructure that connects banks, lenders, platforms and borrowers, enabling the flow of capital across the financial ecosystem. Its product suite spans co-lending, digital lending, embedded finance and treasury management. The startup's co-lending stack allows banks and large non-banking financial companies to partner with other institutions to originate and distribute loans. Knight Fintech works with financial institutions including Bank of Baroda, Bank of India, ICICI Securities, IIFL Finance, Bajaj Auto, Muthoot Fincorp and NABARD. It currently supports more than 150 partnerships across 85 lenders. According to the company, its platform has facilitated over $7 bill...

Startup Funding

DSM Fresh Foods steps into ready-to-eat market with acquisition of Avyom Foodtech

DSM Fresh Foods Limited, which operates the ZappFresh brand and is listed on the BSE SME platform, has approved the acquisition of a 51-60% controlling stake in Avyom Foodtech Private Limited, marking its formal entry into the ready-to-eat (RTE) and ready-to-cook (RTC) food segments and a push into overseas export markets. The acquisition will be executed through a cash infusion of around Rs 7.5 crore by DSM Fresh Foods Limited via a private placement of shares in Avyom Foodtech, resulting in at least 51% equity stake. The company said the transaction is expected to be completed over the next three to nine months. DSM Fresh Foods may also explore the induction of external strategic investors at the Avyom level through the issuance of fresh shares, subject to board approval, to support long-term growth and capital alignment. As part of the broader transaction structure, Avyom Foodtech has entered into a binding term sheet to acquire the operating food processing business of Ambrozia ...

Startup Funding

Adani Enterprises to raise up to Rs 1,000 crore via NCDs

Adani Enterprises is launching a public issue of non-convertible debentures to raise up to one thousand crore rupees. The issue offers various tenors and interest payment options. This fundraising aims to meet the company's financing needs, including refinancing and general corporate purposes. The debentures are rated CARE AA- and AA- (Stable) by respective agencies.

Startup Funding

India spent Rs 1.1 lakh Cr on NYE; Knight FinTech raises $23.6M

Meanwhile, the Ministry of Electronics and IT approved 22 new proposals under the Electronics Components Manufacturing Scheme, with a projected investment of Rs 41,863 crore and production of Rs 2,58,152 crore. Here’s what it entails.