KALAARI
ETtech Deals Digest: Eloelo leads as weekly funding rises to $142 million, down 35% on-year
Eloelo led deal activity with $80 million, followed by Peppermint Robotics at $10.6 million, altM at $10.3 million, Two Point O Capital at $10 million, and PowerUp Money at $10 million. Crane Venture Partners was among the most active investors, backing Peppermint Robotics and Armatrix. Omnivore invested in altM and Two Point O Capital, while Flourish Ventures backed PowerUp Money.
Story TV parent Eloelo raises $80 million from Hornbill, NBCUniversal
The funding follows a surge in Story TV’s business, which has helped lift annualised collections more than tenfold to around $250 million over the past year, according to people familiar with the company. Eloelo said Story TV offers over 5,000 dramas in six languages, while its apps have more than 40 million monthly active users.
Lenskart, Nykaa, PhysicsWallah see Q2 profits surge
New-age companies Nykaa, Lenskart, and PhysicsWallah reported strong numbers for the September quarter. This and more in today’s ETtech Top 5.
EloElo eyes global expansion post $80 million fundraise, aims to build ‘Netflix of micro-drama’
EloElo Group, the parent company of Story TV, successfully raised $80 million in a Series C funding round. The funding round was led by Hornbill Capital and NBCUniversal, significantly increasing the company's valuation. EloElo aims to enhance its micro-drama platform and expand into international markets. The company reported substantial user growth and high production efficiency using AI technology.
EloElo Group raises $80 Million in Series C funding led by Hornbill Capital, NBCUniversal
EloElo Group has successfully raised $80 million in a Series C funding round to expand its AI-driven entertainment ecosystem. The company's focus will be on producing new original content and launching international micro-dramas. With over 40 million active users, EloElo plans to enhance its AI production capabilities through Dolphin AI. The funding will also support the company's aggressive growth strategy across diverse language offerings.
Upstox secures bond platform licence, to launch direct offerings soon
Upstox has been offering bonds through IndiaBonds, following a partnership announced in September 2025. The new licence will allow the company to offer the instruments directly instead of relying on a third-party bond platform.
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byteXL strengthens leadership team to fuel AI and skilling push
byteXL has appointed four senior executives across operations, business, strategy and finance as it prepares to scale its institutional network from 40 to 120 colleges and reach 500,000 students over the next two years. The company is also expanding programmes in AI, GCCs, electric vehicles, semiconductors and precision engineering as it shifts towards a deeper technology focus.
Eloelo in talks to raise $50-60 million at $400 million valuation
The potential funding follows a sharp expansion of Eloelo's micro-drama business, Story TV, which has helped lift annualised collections more than tenfold to around $250 million over the past year. The Bengaluru-based company has used aggressive performance marketing to scale up Story TV, which offers short, vertically filmed fiction across genres such as romance and thrillers, the people said.
Cult.fit gets Sebi nod for Rs 3,500-4,000 crore IPO
The IPO will comprise a fresh issue of shares worth Rs 950 crore and an offer for sale (OFS) of up to 178.6 million shares by existing investors and individual shareholders. The final issue size will be determined after the price band is set. Chiratae, Temasek, Fitness First, Tata Digital, Accel, Kalaari and cofounder Mukesh Bansal are among the entities divesting their stake. Chiratae plans to sell up to 28.1 million shares through two funds, while Temasek will offload up to 24.7 million shares. Actor Hrithik Roshan will also sell part of his stake.
UPI MDR rollout pushed; India’s first quantum computer coming soon
Happy Wednesday! The implementation of MDR on select UPI payments has been deferred beyond Diwali. This and more in today’s ETtech Morning Dispatch.
UPI MDR rollout delayed; Rs 7,131 crore RDI deployment
NPCI has pushed back the UPI MDR rollout until after the festive season. This and more in today's ETtech Top 5.
Blume, Kalaari, Chiratae among 19 VCs in RDI fund's Rs 7,131 crore first cohort
The selected cohort comprises 14 alternative investment funds (AIFs) and five focused research organisations (FROs), which will channel long-term capital into deeptech startups and private sector research and development.
Startup of the Year Groww bets on scale; Qcomm sparks festive credit surge
Happy Thursday! Groww is betting its newer businesses will take a bigger slice of its income. This and more in today’s ETtech Morning Dispatch.
Flipkart alumni seek Esop buyout; Local sourcing for ISM 2.0
Former Flipkart executives are seeking a full cash-out of vested Esops. This and more in today’s ETtech Top 5.
Edtech firm ByteXL raises $9 million in Series B round led by Elevar Equity
Existing investors Kalaari Capital and the Michael & Susan Dell Foundation also participated in the round
As private wallets begin to open, India's big future bet takes off
India’s Rs 1 lakh crore RDI programme is beginning to unlock venture capital flows into deeptech, marking a shift in the country’s attempt to move from being a large technology consumer to a technology producer.
Mid-tier VCs scout deeptech deals; ETSA winner Varaha’s India play
Happy Monday! Sector-agnostic mid-tier venture capital investors are recaliberating focus on India's deeptech startups. This and more in today’s ETtech Morning Dispatch.
Mid-tier VCs rewrite playbooks to chase India's deeptech bets
So far in calendar year (CY) 2026, deeptech startups have attracted $574 million across 61 deals, which is almost 84% of the $679 million raised across 94 transactions, according to Venture Intelligence data shared with ET. The CY26 data includes large rounds, like satellite imaging startup Pixxel’s $100 million funding and Skyroot’s $60 million, which made it India’s first spacetech unicorn.
Skincare startup Deconstruct raises $2 million in funding led by Kalaari Capital
Deconstruct will use the capital for research and development, hiring, and expansion as it aims to become a Rs 100-crore brand in the next two years.
Bala Srinivasa, Prashanth Aluru leave Kalaari Capital
While Srinivasa joined Kalaari Capital in March 2015, Aluru had joined the firm in May 2016.
Reliance on board as limited partner in Kalaari Capital’s 4th fund
Kalaari Capital is “honoured to have RIL as an anchor LP or limited partner in its recent fund”, founder Vani Kola says in an email to startup founders and investors, and that the two firms shared a “common enthusiasm” for investments in startups and the digital development of Bharat.
ETtech Exclusive: How Kalaari's exit led to the fall of Milkbasket
Kalaari Capital is selling its entire stake in Milkbasket to Mahendra Nahata-led MN Televentures, a move that's seen eroding the hyperlocal delivery startup's entire valuation and its ability to onboard new investors.
Scoop: Jio Platforms set to invest $200 million in Kalaari Capital
Jio Platforms’ investment in Vani Kola’s Kalaari Capital will give Reliance Industries an early line of sight into startups and upcoming sectors.
Kalaari Capital adds 3 venture partners, plans to raise $200 million for new fund
The early-stage investment firm, which has backed companies like Urban Ladder, Curefit and Myntra, among others, will continue to focus on technology-focused startups going ahead, Vani Kola told ET.
Kalaari hires KPMG executive as partner
The appointment comes after the departure of at least three partners from the company in the past one year.
Basiz Fund services gives exit to Kalaari Capital through promoter buyback
Kalaari Capital’s blockbuster exit comes at a time when the scope for exits in the Indian startup ecosystem has slowly started picking up pace.
Kalaari Capital strengthens investment team with three appointments
The new hires come after Kalaari, an early investor in ecommerce firms Snapdeal and Myntra, raised $290 million (Rs 1,922 crore) last year.
Tech aces like Ravi Venkatesan, Ram Gupta to guide Kalaari startups
Gupta, former chief executive of Castiron , has already joined the boards of Kalaari-funded education technology venture Simpli-Learn and personal chat assistant app Haptik.
Kalaari Capital raising Rs 1,750 crore for two new funds
Kalaari Capital, an early investor in online marketplaces Myntra and Snapdeal, is raising $275 million (Rs 1,750 crore) for two new funds.
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