Wealth-tech platform Veriqus raises ₹387 crore in funding led by Norwest Venture Partners

Wealth and asset management platform Veriqus Group has raised ₹387 crore in a funding round led by Norwest Venture Partners. Founded by industry veterans Ashish Gumashta and Roshi Jain, the firm will use its AI-enabled platform to serve high-net-worth individuals, family offices, and entrepreneurs, focusing on growth beyond major metro areas. The investment signals confidence in the tech-driven wealth management sector's expansion to capture value from first-generation entrepreneurs in India's smaller cities.

Chinese DRAM Maker CXMT Plans Record $8.5B IPO to Fund Expansion, Challenge Giants

Chinese memory chip manufacturer ChangXin Memory Technologies (CXMT) is planning a record initial public offering on Shanghai's STAR Market to raise approximately $8.55 billion. The capital will fund a significant capacity expansion and technology development effort aimed at challenging the market dominance of Samsung, SK hynix, and Micron. Despite a 2-3 year technology gap and heavy reliance on domestic customers, the IPO signals China's strategic push in semiconductors and could alter global supply chain dynamics.

Instant medicine delivery startup Plazza raises $15M led by Accel, Elevation, and Nexus

Instant medicine delivery platform Plazza has secured $15 million in a funding round led by venture capital firms Accel, Elevation Capital, and Nexus Venture Partners. The capital is designated for expanding the company's operational footprint, enhancing its technology stack, and scaling its quick-commerce pharmacy services. This investment signals strong investor confidence in the healthtech and quick-commerce sectors, intensifying competition in India's last-mile pharmaceutical delivery market.

Steptrade Capital secures Rs 100 Cr in first close for second venture fund

Venture capital firm Steptrade Capital has announced the first close of its second fund, securing commitments of Rs 100 crore. The new fund will focus on investing in early-stage technology startups, continuing the firm's previous investment thesis. This first close provides immediate capital for new deployments and signals sustained limited partner (LP) interest in the Indian venture asset class.

Prysmian inks €5.5B, 10-year fiber optic cable supply deal with Molex

Italian cable manufacturer Prysmian has secured a 10-year supply agreement with Koch-owned Molex, valued at up to €5.5 billion. The deal, which includes a €550 million upfront payment, will see Prysmian supply fiber optic cables for data centers amid rising AI-driven demand. To support the agreement, Prysmian will invest €1.25 billion to expand its production capacity, primarily in the United States.

Coratia Technologies Secures Rs 66 Crore Indian Navy Contract for Underwater Robots

Bhubaneswar-based deep-tech startup Coratia Technologies has secured a Rs 66 crore commercial contract with the Indian Navy. The agreement is for the development and deployment of autonomous underwater vehicles (AUVs) for surveillance and reconnaissance tasks. This deal signals significant non-VC growth potential for hardware and defense-tech startups through government procurement, validating the sector for investors.

Indian Startups Raise $281M in Weekly Funding; AI Sector Dominates

Indian startups secured approximately $281.4 million across 24 deals last week, a more than threefold increase from the preceding week. The AI sector led the activity, attracting $172.4 million, anchored by Emergent's $130 million unicorn round. At the seed stage, AI startup Aina raised $5.5 million, with Peak XV Partners, Y Combinator, and Fireside Ventures emerging as the most active investors.