LIGHTSPEED VENTURES
Razorpay gets Sebi nod for Rs 5,000-6,000 crore IPO: sources
ET reported on April 20 that Razorpay was preparing a confidential IPO filing to raise Rs 5,500-6,500 crore at an expected valuation of $5 billion (Rs 49,000-50,000 crore), below the $7.5 billion (around Rs 6,000 crore then) it commanded in its last major private funding round in 2021.
Coders out, VCs in: Investors bet billions on AI-first services
The AI-native services firms’ promise of high margins and rapid growth with fewer people has attracted the interest of VC firms. If Distyl AI raised $175 million at a $1.8 billion valuation a year ago, Wonderful raised $550 million at a $5 billion valuation in September.
Wealthtech firm PowerUp Money raises $10 million led by Flourish Ventures
PowerUp Money was founded in 2024 by Jindal, who had previously cofounded Uni Cards. It offers mutual fund advisory services to retail investors, at time when the Indian mutual fund industry is seeing record SIP inflows. The company has more than 1.5 million customers tracking portfolios worth over Rs 2.5 lakh crore on its platform.
Exclusive | Cognizant in talks to invest in Indian AI startup Sarvam valuing it at $3.5-4 billion: sources
Cognizant’s potential investment in Sarvam comes as advances in agentic AI raise questions about the future of the IT services industry. AI agents are increasingly capable of automating tasks across software development, application maintenance and back-office operations, potentially disrupting traditional outsourcing models.
Who are the biggest investors backing Anthropic? A look at key stakeholders
Anthropic’s planned IPO is set to test public-market appetite for artificial intelligence companies. Backed by Amazon, Google, leading venture capital firms, global institutions and prominent individual investors, the Claude maker has seen its valuation surge through successive funding rounds.
Anthropic's top investors include Amazon, Google, Fidelity Management
Anthropic is preparing for its initial public offering, supported by significant investments from Amazon and Google. The company's valuation has increased significantly through numerous funding rounds over recent periods. Key investors like ICONIQ Capital and Coatue Management have also expressed confidence in its potential. Anthropic's partnerships with technology leaders enhance its resources for advancing AI development.
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Timeline: Anthropic's path from AI startup to industry-defining IPO
Anthropic's IPO filing marks a significant step toward becoming the first public listing for a frontier AI lab. The company has raised a total of $3.5 billion in various funding rounds leading up to its IPO. Significant investments have come from major companies including Amazon.com and Alphabet's Google. Anthropic is currently projecting revenue of approximately $190 billion to $200 billion in 2028.
Pronto founder Anjali Sardana sets up US-based physical AI venture Provision Labs
Anjali Sardana has launched Provision Labs, an innovative startup dedicated to collecting essential data for artificial intelligence systems. With a vision to source training data from professionals across various sectors globally, Provision Labs seeks to enhance AI developers' capabilities in effectively implementing their models. This venture emerges shortly after the introduction of Pronto's Verified service, which documents household tasks for AI training, addressing the surging need for practical AI solutions.
Zetwerk’s early backers sit on up to 36x returns post listing
The listing provides liquidity for investors who backed an industrial business when venture funding largely favoured software and consumer internet companies. The shares closed at Rs 138.30 on the BSE, 8.4% below the Rs 151 issue price, valuing Zetwerk at Rs 23,432 crore. They opened at Rs 159, a 5.3% premium.
How Byju’s parent funded Aakash rights issue; Zetwerk IPO fully subscribed
Happy Dussehra! Byju’s parent used money repaid by Great Learning to back Aakash’s rights issue. This and more in today’s ETtech Morning Dispatch.
Zetwerk IPO fully subscribed; Super.money triples revenues
Zetwerk’s Rs 5,012-crore IPO was subscribed 3.06 times on Monday, the last day for bids. This and more in today’s ETtech Top 5.
Zetwerk IPO subscribed 3 times, retail portion falls short
Industrial and consumer goods manufacturer Zetwerk counts wind turbine maker Siemens Gamesa, Acer India, NTPC Renewable Energy, and the Indian Air Force among its major clients
Snabbit reports net loss of Rs 168 crore, revenue of Rs 12 crore in FY26
Backed by investors including Nexus Venture Partners, Elevation Capital and Lightspeed, the Bengaluru-based company started operations in August 2024, making FY26 its first full year of operations.
Zetwerk raises Rs 2,251 crore from anchor investors ahead of IPO
The Bengaluru-based company allotted 149.1 million equity shares at Rs 151 apiece, the upper end of its IPO price band of Rs 143-151, according to a stock exchange filing on Wednesday.
Udaan sees growth after four years with 13% rise in revenues
Udaan has shifted to a cluster-led operating model with greater accountability for performance at the city and category levels, according to Vishnu Menon, the company’s senior vice president, business finance. The approach marks a move away from expanding across markets towards improving efficiency and profitability in existing ones, he said.
Urban Company eyes Rs 2,500 crore QIP amid cash-intensive househelp battle
The Gurugram-based company, which went public in September 2025, is locked in a battle with Lightspeed-backed Snabbit and General Catalyst-backed Pronto in the high cash burn instant house help industry.
VCs clip all love & cash on agentic AI
As personal AI agents transform the consumer internet, Indian VCs are shifting the focus from attention-grabbing apps to intent-driven assistants, writes Himanshi Lohchab. From AI financial advisers, health companions to personal concierges, investors are betting that the next generation of consumer businesses will be built around intent, personalisation and delegation, rather than attention and app engagement.
Zetwerk’s early backers stand to make returns of up to 38-fold at IPO price
Venture capital (VC) firms Kae Capital, Accel, Peak XV Partners and Lightspeed Venture Partners will together sell 76.3 million shares, accounting for more than half the 144.5 million shares offered by existing shareholders.
Sarvam plans big fundraise; HCLTech's Q2 profit jumps
Happy Tuesday! Sarvam is in talks for a big round that could double its valuation to $3 billion. This and more in today’s ETtech Morning Dispatch.
AI startup Sarvam in talks for $300 million top-up; valuation may double to $3 billion
The startup builds Indian-language AI models and applications for government agencies and businesses, including banks and insurers. Its customers include Life Insurance Corp. of India, SBI Life, IDFC First Bank, Tata Capital and Cred. Maharashtra has approved deployment of Sarvam’s Indus AI workspace across departments for drafting, translation and document analysis, with government data hosted within India.
Zetwerk IPO eyes big returns; Flipkart alumni seek Esop buyback
Zetwerk’s early investors are poised for big gains as the platform prepares to go public. This and more in today’s ETtech Top 5.
Zetwerk IPO: Fresh issue size raised to Rs 2,830 crore, OFS grows 49%
The number of selling shareholders remains unchanged at 24, but eight institutional investors, including Peak XV Partners, Lightspeed Venture Partners, Accel, and Kae Capital, have increased the number of shares they plan to sell. Founders Amrit Acharya and Srinath Ramakkrushnan will be selling the same number of shares, about 14.2 million each.
Wealthtech startup Zomint raises Rs 36 crore from Lightspeed, Prime Venture Partners
Founded in September 2025 by Aman Mittal, a former executive at Flipkart and Pine Labs, and Shavir Bansal, who started personal finance content platform Bekifaayati, Zomint is targeting young millennials whose investable corpus is below the threshold typically served by traditional wealth management firms.
Prosus steps up India fintech bets with Kiwi, Oolka funding talks
Prosus has held exploratory talks to invest in Kiwi, which offers bank-issued RuPay credit cards and credit lines for Unified Payments Interface (UPI) payments and is looking to raise around $40 million, the people said. ET reported last week that Kiwi was in the market for fresh funding.
ElevenLabs hears a global tune in Indian voice AI deployments
ElevenLabs, recently valued at $22 billion, is expanding its research, engineering, and deployment teams in the country, which is now its second-largest market, with over 250 enterprise clients. Staniszewski expects voice agents to move beyond customer support into sales and operations, with India potentially leading some of those applications.
Top tech players, policymakers come together on Deepverse platform to develop deeptech
The Startup Policy Forum has launched DeepVerse, a groundbreaking initiative designed to bolster India's deeptech sector. This platform connects startups, investors, academics, and policymakers, fostering collaboration across ten sub-sectors, including biotech, quantum technology, and electric vehicles. With backing from influential investors and tech leaders, DeepVerse aims to create a robust policy framework that supports deeptech innovation in India.
German robot startup RobCo hits $1 billion valuation, CEO moves to US
German robotics maker RobCo on Monday said it had passed a $1 billion valuation and that its CEO Roman Holzl had relocated to the United States to focus on the company's fastest-growing market.
Anthropic’s Road to IPO: Funding, valuation, Claude growth and legal battles
Anthropic is preparing for a closely watched U.S. IPO after rapid growth in funding, valuation and revenue. The Claude maker faces legal and regulatory challenges while expanding AI capabilities, cloud partnerships and commercial operations. Its potential listing could offer investors insight into frontier AI economics, governance, capital requirements and growth expectations.
Anthropic's path from AI startup to industry-defining IPO
Anthropic's IPO prospectus, reviewed by Reuters, laid out a sweeping vision in which AI would reshape the global economy more profoundly than industrialization, electricity and the internet, as the Claude maker moved closer to what could be the first listing by a frontier AI lab.
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