February 26, 2025: India has created a robust business environment, with participants significantly influencing the nation's economy as a whole. In light of this, let's examine some of the investments and funds that were made today:
Elevation Capital leads MOC Cancer Care in raising $18 million.
Elevation Capital is leading the $18 million fundraising effort for the MOC Cancer Care & Research Centre, a network of community cancer centers. In order to increase its operations and technology capabilities, MOC previously raised $10 million from the Tata Capital Healthcare Fund in January 2023.
According to the Mumbai-based business, the money raised will be utilized to broaden the services it offers, develop new locations, and grow its operations. It works in the field of daycare oncology, specializing in chemotherapy and cancer treatment.
MOC, a concept turned enterprise and chain of community cancer centers, was founded in 2018 by oncologists Dr. Ashish Joshi, Dr. Kshitij Joshi, Dr. Pritam Kalaskar, and Dr. Vashishth Maniar. Its goal is to make the journey easier for cancer patients by creating an ecosystem that embodies important factors like affordability and proximity.
Wow Momo reports FY24 revenue of Rs 470 Cr and a loss of Rs 114 Cr.
Although a network of quick-service restaurants Wow! Momo's operating revenue increased by 14% in FY24, but it was still significantly less than the 88% year-over-year increase in FY23, suggesting that growth was slowing down. Nonetheless, the company supported by Tiger Global was able to maintain a flat loss for the fiscal year that concluded in March 2024.
According to Wow Momo's consolidated financial documents obtained from the Registrar of Companies, the company's operating revenue increased from Rs 413 crore in FY23 to Rs 470 crore in the most recent fiscal year.
Vidyut raises $2.5 Million To grow its Battery-as-a-service Financing Business
Platform for a full-stack electric car environment Global fintech investor Flourish Ventures has contributed $2.5 million to Vidyut's fundraising efforts. 3one4 Capital, Credit Saison, Flourish Ventures, Zephyr Peacock, Lighthouse Canton, and other well-known investors have contributed more than $16.5 million to Vidyut so far. In February of last year, the company closed its $10 million Series A financing.
The investment will support the growth of Vidyut's battery-as-a-service (BaaS) products in the commercial and passenger EV markets. According to a press statement from the firm, this investment supports Vidyut's objective to hasten India's clean energy transition by lowering the cost and increasing the accessibility of EV ownership for SMBs.
Founded in 2021 by ex-Swiggy and Bounce executives Xitij Kothi and Gaurav Srivastava, Vidyut revolutionized commercial EV financing. By unbundling batteries from EVs and offering them on a pay-per-km subscription basis, Vidyut reduced upfront three-wheeler (3W) EV costs by 35-40%, making them significantly cheaper than ICE vehicles from day one.
Eximius and Kalaari lead Triple Tap Games in Raising $1.2 Million in the Pre-seed Round
In its pre-seed investment round, which was managed by Eximius Ventures and Kalaari Capital and included angel investors from the gaming and entertainment industries, Mumbai-based gaming studio Triple Tap Games has collected $1.2 million.
The money raised will go toward developing a portfolio of cutting-edge mobile games in the "relax and unwind" genre that are geared toward a worldwide player base. The money raised will be used by the business to start and expand games in the US and Europe. Triple Tap Games was established in 2024 by Karan Khairajani with the goal of creating "relax and unwind" experiences for a worldwide audience.
HiWiPay Raised $2 Million in Seed finance Under the direction of Unicorn India Ventures
Unicorn India Ventures led a $2 million seed fundraising round for the cross-border payments platform HiWiPay. Jupiter Metaverse LLP, the family office of Dewang Neralla, and additional angel investors Ritesh Malik, Mitesh Shah, and Nilesh Doshi also participated in the round.
According to a news statement from HiWiPay, the money raised will be utilized to scale up activities in the school remittances sector and to improve and grow the trade remittance industry.
HiWiPay is a cross-border payments platform that was co-founded in 2022 by Dewang Neralla, Geeta Chauhan, and Ujwal Tamminedi. It provides a smooth digital experience, removing paperwork burdens and guaranteeing safe, legal transactions. The technology eliminates issues such perceived high forex margins, lack of currency rate transparency, due diligence, regulatory obligations, and documentation barriers.
Dr. Reddy's Lab Receives a Rs 30 Cr Investment from Go Digit
Go Digit, an insurtech business, has acquired a 0.32% share in Dr. Reddy's Laboratories, a leading pharmaceutical company, for Rs 30 crore. In an exchange filing, Go Digit stated, "The investment in shares is being made in the ordinary course of the company's investment function."
Dr. Reddy's Laboratories is a worldwide pharmaceutical firm based in India that was founded in 1984 by Kallam Anji Reddy. It produces and distributes reasonably priced medications. It offers a range of goods and services, such as generics, biosimilars, active pharmaceutical ingredients (APIs), customized pharmaceutical services (CPS), and unique formulations.
Quick Clean raises Rs 50 Cr in Series A round
Quick Clean, a professional linen management solutions provider, has raised Rs 50 crore which comes to about USD 5.7 million in its Series A funding round co-led by Alkemi Growth Capital and Blue Ashva Capital and witnessed an additional investment of Rs 10 crore ($1.15 million) credit line from Venture Debt Cos. The company had previously raised $188K from Deepan Exim and others. The fresh funds will be used to expand its footprint into healthcare and hospitality, Quick Clean said in a press release.
Co-founded in 2010 by Anshul Gupta and Ankur Gupta, Quick Clean started by introducing coin-operated laundromat before evolving into importer and distributor of commercial laundry equipment and expanded to 45 franchises in their first year of operation and being able to bring the leading technology providers like Electrolux Professional, Trevil, Rennai, and a few global names.
