Category: Corporate

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Corporate

AI startup Emergent turns unicorn

India’s AI startup ecosystem has added another unicorn, with Emergent raising $130 million in a Series C funding round that values the company at $1.5 billion. The milestone comes just over a year after the startup was launched, making it one of the fastest-growing AI companies in the country.

The latest funding round was led by global investors, reflecting growing confidence in India’s rapidly expanding artificial intelligence sector. The fresh capital will be used to accelerate product development, expand the company’s engineering team and strengthen its presence in international markets.

Emergent specialises in AI-powered coding tools that help software developers write, test and optimise code more efficiently. Its platform uses advanced generative AI to automate repetitive programming tasks, allowing developers to focus on solving complex problems and building new applications faster.

The company’s rapid growth has been driven by strong demand for AI tools among businesses and software developers worldwide. Since its launch, Emergent has attracted customers across multiple markets by offering solutions that improve productivity and reduce software development time.

The new funding marks a significant milestone not only for Emergent but also for India’s startup ecosystem, which has seen increasing investor interest in AI-focused companies. Industry experts believe the success of startups like Emergent highlights India’s growing role in the global AI innovation landscape.

Company executives said the investment will help scale the platform, improve AI capabilities and support expansion into new markets. The startup also plans to hire more engineers, researchers and product specialists as it continues to grow.

Investors say they see enormous potential in AI-assisted software development, a sector expected to witness rapid growth as businesses increasingly adopt artificial intelligence to improve efficiency and reduce costs.

Emergent’s rise to unicorn status comes at a time when global demand for AI solutions continues to surge. As organisations embrace generative AI across industries, startups building specialised AI products are attracting significant investments.

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Ather Energy raises ₹1,200 cr to fuel future growth

Electric two-wheeler maker Ather Energy has raised ₹1,200 crore in fresh funding, marking a significant step in its plans to expand production, strengthen technology and accelerate growth in India’s fast-growing electric vehicle market.

The funding round also saw Hero MotoCorp, Ather’s largest strategic investor, increase its stake in the company to 30.68%, reaffirming its long-term confidence in the Bengaluru-based EV manufacturer.

Ather said the newly raised capital will be used to expand its manufacturing capacity, strengthen research and development, introduce new products and widen its retail and charging network across the country. The company is also expected to invest in next-generation battery technology and software capabilities to improve the ownership experience for customers.

India’s electric two-wheeler market has become increasingly competitive, with established manufacturers and new startups racing to introduce innovative products. Ather has positioned itself as a premium EV brand, focusing on smart scooters equipped with connected technology, fast charging and advanced software features.

The fresh funding will help Ather compete more aggressively as demand for electric mobility continues to grow. The investment is expected to support the company’s long-term strategy of increasing production and reaching more cities across India.

Hero MotoCorp’s decision to increase its holding highlights the strategic partnership between the two companies. Hero has backed Ather for several years and continues to support its expansion plans as India’s transition towards cleaner transportation gathers pace.

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Sensex climbs over 250 points, Nifty tops 24,100

Markets opened on a firm note on Thursday, with investors taking encouragement from positive global cues despite growing geopolitical tensions in the Middle East. The BSE Sensex climbed over 250 points in early trade, while the NSE Nifty crossed the 24,100 mark, extending the previous session’s gains. Softer-than-expected US inflation data lifted hopes that the US Federal Reserve may delay further interest rate hikes, improving sentiment across global equity markets.

The rally came even as crude oil prices stayed near $86 a barrel, marking the fourth straight day of gains following fresh US military strikes on Iran. Rising oil prices have kept investors cautious because prolonged supply disruptions could increase inflationary pressures and impact corporate earnings. However, domestic investors largely focused on the ongoing June-quarter earnings season and stock-specific opportunities.

Financial and technology stocks remained in the spotlight. HDB Financial Services surged more than 4% after reporting a 38% year-on-year jump in June-quarter profit, supported by strong net interest income and improved asset quality. HDFC Life also traded higher after posting healthy quarterly earnings. In the IT space, HCL Tech, Wipro and Tech Mahindra attracted buying ahead of their earnings announcements, helping the Nifty IT index outperform the broader market.

Among the early gainers were HDB Financial Services, HDFC Life, HCL Tech, Wipro and Tech Mahindra. On the losing side, ICICI Lombard declined sharply after disappointing quarterly results, while ICICI Prudential Life and UltraTech Cement also remained under pressure. Investors continued to monitor movements in banking and insurance stocks as earnings season gathered pace.

Market experts believe the near-term direction will depend on corporate earnings, crude oil prices and developments in the Middle East. While global uncertainty remains high, resilient domestic buying, improving earnings expectations and optimism around interest rates have helped Indian equities maintain their upward momentum. Analysts expect markets to remain volatile but believe stock-specific action will continue to dominate trading sessions in the coming days.

Also Read: Fed Chief Warsh reaffirms strong fight against inflation

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Sensex rises 130 points, Nifty tops 24,050

Stock market indices ended higher on Wednesday as gains in banking and information technology stocks outweighed weakness in select auto and consumer shares.

The BSE Sensex advanced 130 points to close at 77,185, while the NSE Nifty 50 added 26 points to settle at 24,078, extending its hold above the 24,050 level.

Among the top gainers on the Sensex were Infosys, HDFC Bank, ICICI Bank, Tech Mahindra and Axis Bank, supported by buying in IT and financial stocks. On the losing side, Tata Motors, Trent, Titan Company, Mahindra & Mahindra and Sun Pharma ended lower, limiting the day’s gains.

Markets traded in a narrow range for most of the session as investors remained cautious ahead of more June-quarter earnings announcements. Strong interest in banking counters and expectations of healthy earnings from large IT companies helped keep sentiment positive despite mixed global cues.

Analysts said investors are closely tracking corporate earnings for signs of demand recovery and profit growth across sectors. Management commentary over the next few weeks is expected to influence market direction.

Global sentiment remained mixed as investors assessed developments related to trade, interest rate expectations and geopolitical tensions. Despite these uncertainties, domestic equities continued to find support from institutional buying and confidence in India’s economic outlook.

The broader market witnessed stock-specific action, with financial and technology counters attracting buying while profit booking emerged in parts of the automobile and consumer sectors.

Also Read: TCS chosen to power JFK Airport’s new terminal

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TCS chosen to power JFK Airport’s new terminal

Tata Consultancy Services (TCS) has been selected as the strategic technology and innovation partner for New York’s upcoming Terminal One at John F. Kennedy International Airport (JFK), marking a major global infrastructure technology win for the Indian IT services company.

The partnership will see TCS provide digital solutions, technology expertise and innovation support for the new terminal, which is part of the $9.5 billion redevelopment project at JFK Airport. The new Terminal One is expected to become one of the largest international terminals in the United States once completed.

As part of the agreement, TCS will help design and implement advanced technology systems aimed at improving passenger experiences, operational efficiency and airport management. The company’s role will focus on creating a more connected and digitally driven airport environment using technologies such as artificial intelligence, data analytics, automation and cloud solutions.

The project is being developed by The New Terminal One, a private consortium responsible for delivering and operating the new facility. The terminal is designed to handle growing international travel demand while offering modern passenger facilities and sustainable infrastructure.

TCS said its partnership will support the vision of building a next-generation airport that combines technology with better customer experiences. The company will bring its global experience in areas such as digital transformation, enterprise technology and large-scale systems integration to the project.

For TCS, the JFK Terminal One contract strengthens its presence in the global transportation and aviation technology sector. The company already works with organisations worldwide on digital upgrades, helping businesses and public infrastructure providers improve efficiency through technology.

The partnership also highlights the increasing role of Indian technology companies in major global infrastructure projects. As airports worldwide invest in smart technologies, companies like TCS are becoming key partners in developing digital ecosystems that improve security, convenience and operational performance.

Also Read: Mylan exits Biocon after selling entire stake

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Mylan exits Biocon after selling entire stake

Mylan has exited Biocon after selling its entire stake in the Bengaluru-based biotechnology company, marking the end of a long association between the two firms. The transaction involved Mylan’s 5.64% holding in Biocon and was completed through a block deal worth around ₹3,679 crore.

The stake sale attracted strong interest from several major institutional investors, including mutual funds, foreign portfolio investors and global financial institutions. Among the buyers were names such as Morgan Stanley, ICICI Prudential Mutual Fund, Goldman Sachs and Citigroup, which participated in acquiring the shares from Mylan.

Following the deal, Biocon’s stock gained investor attention, with shares rising nearly 6% as markets reacted to the ownership change. Analysts said the transaction improved liquidity in the stock and brought in a wider group of institutional shareholders.

Mylan, a global pharmaceutical company, had been associated with Biocon for several years, particularly through its partnership in biosimilars. The collaboration helped Biocon expand its presence in global markets, especially in the areas of insulin, oncology and other complex biologic medicines.

The stake sale comes as Biocon continues to focus on expanding its global biosimilars business and strengthening its position in regulated markets. The company has been investing in research, manufacturing capabilities and international partnerships to grow its presence in the global pharmaceutical sector.

Also Read: DeepSeek eyes fresh funding after $7 bn

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DeepSeek eyes fresh funding after $7 bn

Chinese artificial intelligence startup DeepSeek is reportedly looking to raise fresh funds just weeks after completing a major $7 billion funding round, highlighting the company’s rapid expansion plans in the highly competitive AI race.

The Hangzhou-based AI firm has started early discussions with potential investors for another fundraising round that could value the company at around $71 billion before the investment, according to reports. This comes soon after DeepSeek’s first external funding round, which valued the company at about $52 billion.

DeepSeek became a global name after its V3 and R1 AI models attracted attention for delivering strong performance while using fewer computing resources compared with some rival systems. The company’s progress challenged the belief that only Silicon Valley firms could lead advanced AI development.

The new funds are expected to support DeepSeek’s growing technology needs, including expanding computing capacity, building infrastructure and strengthening research efforts. Like other leading AI companies, DeepSeek faces rising costs as demand for powerful chips, data centres and skilled researchers continues to increase.

Alongside fundraising plans, reports suggest DeepSeek is also preparing for a possible initial public offering (IPO) as early as this year. The company is reportedly exploring a listing route that could help it secure more capital while maintaining its focus on long-term AI research.

DeepSeek is also working towards reducing its dependence on external chip suppliers by developing its own AI processors. The move reflects a broader push by Chinese technology companies to build more self-reliant AI ecosystems amid global competition.

Also Read: Udaan secures $160 mn ahead of planned IPO

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Udaan secures $160 mn ahead of planned IPO

Business-to-business (B2B) e-commerce platform Udaan has raised $160 million in a structured financing round as the Bengaluru-based company strengthens its financial position ahead of its planned initial public offering (IPO).

The latest funding includes investments from existing investors and debt partners, reflecting continued confidence in Udaan’s efforts to improve profitability while expanding its business. The company said the fresh capital will be used to reinforce its balance sheet, support long-term growth and accelerate preparations for a public listing.

Along with the financing, Udaan announced that it has completed the acquisition of TrustRoot, a fintech platform focused on supply chain financing. The acquisition is expected to enhance Udaan’s embedded financial services by offering improved credit and working capital solutions to retailers, wholesalers and small businesses using its platform.

The company believes integrating TrustRoot’s technology and expertise will strengthen its financial ecosystem and help improve access to credit for merchants, an important requirement for India’s rapidly growing B2B commerce market.

Founded in 2016, Udaan connects manufacturers, wholesalers, retailers and traders through its digital marketplace, enabling businesses to source products across categories including grocery, electronics, lifestyle, pharmaceuticals and general merchandise. Over the past few years, the company has shifted its focus from aggressive expansion to improving operational efficiency and reducing losses.

The fresh funding comes as Udaan continues to report progress in lowering cash burn, improving contribution margins and building a more sustainable business model. These measures are seen as key steps before entering the capital markets.

India’s startup ecosystem has witnessed renewed investor interest in companies demonstrating a clear path to profitability, and Udaan’s latest financing reflects that trend. The company is expected to use the additional capital to strengthen technology, expand financial services and improve customer experience while maintaining disciplined growth.

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Elevation Capital raises $500 mn to back AI startups

Venture capital firm Elevation Capital has launched its ninth India-focused fund with a corpus of $500 million, reaffirming its long-term commitment to backing the country’s next generation of entrepreneurs. The new Fund IX will primarily invest in seed and Series A startups, with a strong focus on artificial intelligence (AI)-led businesses and deeptech ventures.

The fund arrives at a time when AI is rapidly reshaping industries worldwide and attracting a growing share of venture capital. Elevation Capital believes India is well-positioned to build globally competitive AI companies, despite concerns that much of the world’s AI investment is currently concentrated in the United States. According to the firm, India’s digital infrastructure, entrepreneurial talent and expanding technology ecosystem create a strong foundation for the next wave of innovation.

Fund IX will back startups developing AI-powered solutions for sectors such as healthcare, education and financial services, where technology can help solve large-scale operational challenges. The firm also plans to invest in AI software products built in India for global markets, alongside deeptech startups working in areas including robotics, defence, manufacturing, space technology and energy.

Unlike its previous fund, which invested across multiple stages, the new vehicle will concentrate on early-stage companies. Later-stage investments will continue through Elevation Capital’s separate $400 million Holdings Fund, taking the firm’s total deployable capital to around $900 million.

The fund has received overwhelming support from existing limited partners, reflecting investor confidence in Elevation Capital’s investment strategy and India’s startup ecosystem. The firm has previously backed several successful startups, including Swiggy, Urban Company, Meesho, NoBroker and Paytm, and now expects AI-led businesses to drive the country’s next phase of startup growth.

Elevation Capital said the AI revolution represents a once-in-a-generation opportunity for Indian founders.

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Sensex jumps over 500 points, Nifty tops 24,200

Indian benchmark indices bounced back strongly on Wednesday, recovering a large part of the previous session’s losses as investors cheered softer US inflation data and renewed buying in banking and financial stocks.

During the session, the BSE Sensex surged over 500 points to trade above 77,500, while the NSE Nifty reclaimed the 24,200 mark. Financial heavyweights led the rally, with HDFC Bank, ICICI Bank, Axis Bank, Bajaj Finance and Shriram Finance emerging among the top gainers. On the losing side, ONGC, Tata Consumer Products, Coal India, NTPC and Power Grid traded lower as investors remained cautious about rising energy prices and global uncertainties.

The recovery followed Tuesday’s sharp sell-off, when the Sensex had fallen 561 points to close at 77,054.94, while the Nifty slipped 159 points to settle at 24,052, wiping out nearly ₹3 lakh crore in investor wealth. Rising crude oil prices, foreign institutional investor (FII) selling and escalating geopolitical tensions had triggered broad-based weakness across sectors.

Investor sentiment improved after US inflation came in lower than expected, raising hopes that the US Federal Reserve may slow the pace of future interest rate hikes. The easing inflation outlook supported global equities and encouraged investors to return to Indian markets, particularly large-cap financial stocks.

However, market participants remain watchful as tensions involving the US and Iran continue to fuel concerns over possible disruptions to global crude oil supplies. Higher oil prices could increase India’s import bill, add to inflationary pressures and impact corporate profitability if the rally in crude sustains.

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