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Honasa Consumer makes strategic investment in oral care startup Fang

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L-R: Jitendra Arora, Ankit Agarwal & Ashutosh Jaiswal, co-founders, Fang

Fang Oral Care has raised ₹10 crore in funding from Honasa Consumer Ltd., the parent company behind brands such as Mamaearth, The Derma Co., and Aqualogica, the Mumbai-based startup announced.

Established in 2022 by Ankit Agarwal, Ashutosh Jaiswal, and Jitendra Arora, Fang focuses on teeth whitening and oral wellness offerings, selling through its own website and major e-commerce platforms like Amazon and Flipkart, as well as quick commerce channels.

The newly secured capital will support research and development, the expansion of its product range, and the strengthening of its digital presence across online and quick commerce platforms. Each of the three founders brings more than 20 years of expertise spanning product development, e-commerce, performance marketing, and healthcare manufacturing.

Varun Alagh, Chairman and CEO of Honasa Consumer, said the company recognized the founders for their deep category knowledge and strong vision for transforming the oral care landscape. He called oral care a high-growth category ripe for disruption, with Fang well-positioned to lead through offerings that combine aspirational branding with scientific credibility.

Co-founder Ashutosh Jaiswal noted that the team chose Honasa for its proven ability to build purpose-driven brands and its shared mission of making science-led oral care more accessible. Fang’s current lineup includes teeth whitening products and toothpastes formulated with active ingredients. Honasa Consumer remains India’s largest digital-first beauty and personal care company, with seven brands under its umbrella.

jüSTa Hotels & Resorts strengthens footprint as NUO enters Nagpur

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Homegrown hospitality group Onora Hospitality, which operates jüSTa Hotels & Resorts, NUO by jüSTa and Bookmark Resorts, has teamed up with Aviyaara Hospitality to bring its energetic and rapidly expanding brand NUO by jüSTa to Nagpur.

Built around the philosophy of ‘Moving Forward,’ NUO by jüSTa Hotels & Resorts combines the warmth and personalized feel of a boutique hotel with the functionality, design sensibility, and operational intelligence suited to India’s modern professionals. The brand integrates smart rooms, well-designed work areas, and engaging social spaces that encourage networking and community interaction. With its low-capex and high-efficiency model, NUO by jüSTa Hotels & Resorts provides investors with a scalable hospitality format that works across major metros as well as Tier 2 and Tier 3 cities.

“NUO by jüSTa is a space full of life, ideas, and consciousness,” said Ashish Vohra, Founder & CEO, Onora Hospitality. “Bringing it to Nagpur marks the beginning of our journey to take this young, design-driven, and sustainable brand to every major business city in the country. Our goal is to create spaces that reflect the rhythm of modern India—efficient, expressive, and forward-moving.”

Set to open within the next two years, the property will offer 40 rooms, a co-working café, a meeting room, and a versatile social space for events and gatherings. Aviyaara Hospitality, backed by a well-established Nagpur-based business family with interests in mining, education, and hospitality, expressed strong enthusiasm for the partnership.

“We are excited to bring this dynamic brand to Nagpur—one that truly embodies the city’s youthful spirit. We look forward to seeing NUO by jüSTa emerge as a vibrant destination for the young and the spirited,” said Kshitiz Agarwal, CEO, Aviyaara Hospitality.

Codeyoung raises $5 Mn in Series A to strengthen global edtech footprint

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Shailendra Dhakad and Rupika Taneja, co-founders, Codeyoung

Edtech startup Codeyoung has raised $5 Mn (INR 44.4 Cr) in its Series A funding round, led by 12 Flags Group—an investor in Blue Tokai—and Enzia Ventures. Cofounder Shailendra Dhakad said that the fundraising includes an equal share of primary and secondary components, with the secondary portion offering an exit to early backer Guild Capital.

The newly raised capital will help the company strengthen its footprint in existing international markets, particularly in the US and Canada. A portion of the funds will also support the development of AI-driven personalization tools and the launch of new learning categories.

Founded in 2020 by Dhakad and Rupika Taneja, Codeyoung provides one-to-one online lessons for learners aged 5–17 across subjects such as math, English, coding, and science.

“Currently, we have around 15,000 students learning from us every week. Overall, around 20,000+ students are active on the platform. In terms of our student distribution, 70% are from North America, which includes the US and Canada, around 25% come from the UK, and the remaining 5% are from the rest of the world,” Dhakad said.

The platform has about 1,100 trainers working as independent contractors from multiple continents, most of whom conduct at least 5–6 sessions weekly, he added.

Codeyoung’s operations team, based in Bengaluru, consists of around 350 employees. The startup currently reports an annual recurring revenue of $15 Mn. “Currently, Codeyoung is cash flow positive. We generate a revenue of about $1.8 Mn on a monthly basis,” Dhakad said.

The funding arrives after a challenging period for the Indian edtech sector, marked by BYJU’S—the sector’s highest-valued startup—entering insolvency. Despite this, 2025 has seen renewed activity, with platforms such as Leap, CENTA, and speakX securing investments. India’s edtech market will expand to $29 Bn by 2030, growing at a CAGR of 25.87% from 2022 to 2030.

Edtech unicorn PhysicsWallah recently closed its IPO and will list on November 18, while Imarticus Learning is gearing up for its public offering, planning to raise around INR 750 Cr through a mix of fresh issuance and an offer for sale.

Intellipaat joins hands with IndiaAI Mission to boost nationwide AI literacy

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Diwakar Chittora, Founder & CEO, Intellipaat

In a major step toward making Artificial Intelligence (AI) education accessible nationwide, Intellipaat, one of India’s prominent AI-driven learning and upskilling platforms, has collaborated with the IndiaAI Mission—an initiative under the Ministry of Electronics and Information Technology (MeitY), Government of India—to launch the ‘YUVAi for ALL’ program. This nationwide initiative aims to equip citizens with essential AI knowledge and prepare the country for an AI-enabled future.

Through this partnership, Intellipaat will provide free training in artificial intelligence and generative AI to students, educators, and working professionals. The initiative supports the government’s goal of empowering 10 million citizens with foundational AI competencies by January 2026. As part of the collaboration, participants will receive government-recognized certificates, while Intellipaat will host AI awareness sessions, generative AI tool demonstrations, and community-focused learning events, along with providing foundational AI literacy e-learning content.

“At Intellipaat, we have always believed that India’s true potential lies in its youth and educators. Our partnership with the IndiaAI Mission represents a shared vision to make AI education accessible to every citizen, regardless of their background. By empowering India’s Youth with this foundational AI literacy, we are taking a major step toward realizing the Hon’ble Prime Minister’s vision of a Digital and AI-Enabled Bharat,” said Diwakar Chittora, Founder & CEO, Intellipaat.

The IndiaAI Mission, led by MeitY, is the Government of India’s flagship program focused on fostering the responsible growth and adoption of artificial intelligence. Its objective is to strengthen AI research, innovation, and awareness across all segments of society, ultimately positioning India as a global leader in AI talent and real-world applications.

AI coding startup Cursor raises $2.3 Bn as valuation soars to $29.3 Bn

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L-R: Aman Sanger, Arvid Lunnemark, Sualeh Asif and Michael Truell, Co-founders, Cursor

AI coding startup Cursor has secured $2.3 billion in fresh funding, pushing its valuation to $29.3 billion. The San Francisco-based company brought in new investors, including Nvidia, Coatue Management, and Google, while existing supporters such as Accel, Andreessen Horowitz, DST Global, and Thrive Capital also joined the round.

Cursor said it will use the newly raised capital to boost research initiatives and expand its global presence as enterprises rapidly adopt AI-driven developer tools. The company also revealed that it has surpassed $1 billion in annualized revenue and now employs over 300 people.

Founded in 2022 by Michael Truell, Sualeh Asif, Arvid Lunnemark, and Aman Sanger, Cursor offers an AI-native coding environment powered by proprietary models capable of generating, clarifying, and updating code for engineering teams. The startup asserts that it is producing more code via its agentic system than any competing AI product currently available.

This substantial funding comes amid escalating investor enthusiasm for developer-focused AI tools. Cursor’s valuation has tripled within a short span, fueled by strong adoption from engineering teams eager to accelerate software delivery through automated coding workflows.

Analysts believe the new capital will catalyze advanced model development and intensify the company’s enterprise expansion, especially across North America and Europe, where interest in AI coding platforms continues to surge.

Ashtech Group enters real estate with ₹1,800-Cr luxury project in Greater Noida

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Sumit Agarwal, Director of Ashtech Group

Ashtech Group, a well-known name in construction materials and infrastructure development, has officially stepped into the real estate sector with plans to invest around ₹1,800 crore in a luxury housing project in Greater Noida.

The company’s maiden real estate venture will rise on a 5.6-acre fully paid-up plot, which it recently acquired from the authority for ₹300 crore, according to a company statement released on Thursday.

Sumit Agarwal, Director of Ashtech Group, shared, “We believe this is the right time to extend our expertise to real estate development.” He further highlighted that Ashtech has long been engaged in allied sectors like fly ash bricks, AAC blocks, ready-mix concrete (RMC), pre-engineered buildings, large-scale infrastructure, and power infrastructure—all of which provide a strong foundation for this new venture.

The company is gearing up to launch the first phase of the project soon. Based in Delhi-NCR, Ashtech Group reported a ₹500 crore turnover in the last fiscal year and plans to expand further with more real estate projects in the coming years.

Meanwhile, the Indian real estate market continues to flourish post-2022, with surging demand for both residential and commercial spaces. Property prices and land costs have witnessed significant appreciation, particularly after the pandemic, creating a ripe environment for new entrants like Ashtech to make their mark.

Blackstone, SoftBank in talks to invest in Indian cloud startup Neysa Networks

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L-R: Sharad Sanghi and Anindya Das, co-founders, Neysa

Blackstone and SoftBank Group are reportedly in early discussions to acquire stakes in Neysa Networks, an Indian cloud infrastructure startup, according to people familiar with the matter.

The US-based alternative asset manager is evaluating a majority stake, while SoftBank is considering a minority investment, the sources said, requesting anonymity as the talks remain confidential.

Founded in 2023 by Sharad Sanghi and Anindya Das, Neysa Networks provides cloud-computing infrastructure that enables companies to run artificial intelligence (AI) models on demand. The startup has already raised about $50 million from investors such as Z47 (formerly Matrix Partners India) and Nexus Venture Partners, according to details available on its website.

While Blackstone declined to comment on the matter, representatives for SoftBank and Neysa did not respond to requests for comment. Insiders noted that the potential deal could value Neysa at under $300 million, although any incoming investor would likely need to infuse additional capital to support the company’s ambitious expansion plans.

The growing investor interest reflects a global surge in funding for data centers and cloud infrastructure, driven by the booming demand for AI services. Investors worldwide are channeling billions into capital-intensive data ecosystems to power next-generation AI models. However, some experts continue to question whether the sector might be overbuilding capacity ahead of proven, long-term profitability.

If finalized, the deal would mark SoftBank’s first new investment in India in over three years, signaling a potential renewed focus on the country’s fast-growing AI and digital ecosystem. For Blackstone, a transaction with Neysa would further strengthen its digital infrastructure portfolio in India, complementing its existing real estate and infrastructure investments.

In 2024, Amit Dixit, Blackstone’s Head of Private Equity in Asia, had emphasized that data centers remain a key area of growth. The firm already backs Lumina CloudInfra in India and AirTrunk, the Australian data center operator it acquired, which has announced plans to build its next facility in India.

The interest in Neysa comes amid a wave of global data center partnerships. In 2023, Brookfield Infrastructure Partners and Digital Realty teamed up with Reliance Industries Ltd., while Google and Adani Enterprises Ltd. revealed plans just last month to invest $15 billion in Indian data centers, underscoring the massive momentum in the country’s digital infrastructure landscape.

Nia.one secures $2.4M seed funding from Elevar Equity to expand phygital support for gig workers in India

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[L-R] Sachin Chhabra & Pushkar Raj, Co-founders of Nia.one

Seed round accelerates the development of a national network of Niadel hubs, combining jobs, housing, and daily essentials into a single infrastructure layer for India’s blue- and grey-collar workforce.

Bengaluru / Gurugram — November 13, 2025: Nia.one, a full-stack platform for India’s gig and blue-collar workforce founded in August 2024, today announced that Elevar Equity has invested USD 2.4 million in its seed round. The investment will accelerate Nia.one’s vision of building Niadel hubs across major employment corridors, enabling workers to live closer to their workplaces, access fair jobs, and meet their daily needs within a single trusted phygital ecosystem.

As India’s gig and migrant workforce surpasses 23.5 million and urban clusters continue to expand, the need for inclusive worker infrastructure has never been more urgent.

Elevar is known for backing seasoned entrepreneurs building large-scale, enduring businesses focused on entrepreneurial households—resilient, aspirational households that remain deeply underserved. Nia.one aligns directly with this thesis by treating India’s gig workers not as a fragmented labor pool, but as households in motion that require integrated infrastructure: safe accommodations, reliable meals, essential products, and better-paying jobs—all within walking distance of work sites.

“At Nia.one, we are building the missing physical layer between the road and the rented bed,” said Lt. Col. Pushkar Raj (Retd), co-founder and COO, Nia.one. “Every Niadel hub is designed so that a worker can walk to work, return to a safe, affordable bed, access hot meals, and upgrade their life without debt traps or brokers. Elevar’s partnership strengthens our ability to build this infrastructure with discipline, speed, and long-term intent.”

“Most platforms see gig workers as transactions; Nia.one sees them as entrepreneurial workers needing infrastructure,” said Jyotsna Krishnan, Managing Partner, Elevar Equity, and co-founder and CEO, EPIC World. “By placing workers at the center—solving for where they live, what they eat, and how they work—Nia.one has built a model where worker well-being directly drives business performance. It’s a bold and fresh approach to this segment, and we are excited about the potential it holds.”

The seed capital will be used to:

·       Scale Niadel hubs across key corridors in NCR, Bengaluru, and Pune—in locations within one kilometer of large work sites across logistics, warehousing, e-commerce, industrial, and services clusters.

·       Deepen Rafiki, proprietary technology stack, by utilizing data and AI to match workers with better jobs, enhance retention for enterprises, and expand access to housing, food, mobility, and financial products transparently.

·       Standardise a replicable operating playbook for hub expansion, with a sharp focus on unit economics, cross-subsidized services, and retention-driving worker experiences that convert migration from a survival response into a path to stability.

·       Attract top talent and strengthen the team to drive innovation, operational excellence, and scalable growth across Nia.one’s expanding ecosystem.

The capital will enable Nia.one to expand from over 3,000 gig workers today to more than 8,000 in the coming quarters.

Nia.one’s Niadel model integrates four layers into every hub:

·       Flow: Verified jobs with faster onboarding, predictable earnings, and lower first-30-day drop-offs.

·       Studio: Essential products and services such as housing, meals, mobility, connectivity, and work gear at transparent prices that enable monthly savings.

·       Tribe: Community, learning, and health services that convert transient stays into stable lives.

·       Rafiki: An AI-led guide that uses data from the network to support worker decisions and enterprise performance.

This integrated architecture is designed to increase worker retention, reduce churn costs for employers, and create a capital-efficient model for building and operating physical hubs at scale. Founded in August 2024 by Sachin Chhabra and Lt. Col. Pushkar Raj (Retd.), Nia.one currently operates across 50+ cities, serving over 3,000 gig workers, with retention rates exceeding 80%—more than double the industry average of 40%.  This fits Elevar’s proven method of supporting businesses that successfully provide essential services to low- to middle-income customers that they term Entrepreneurial Households.

“Infrastructure for migrant workers has been treated as an afterthought for too long,” added Sachin Chhabra, Founder and CEO. “We’ve proven the model works with 80%+ retention and unit economics that improve with scale. Our focus now is to prove, city by city, that a network of Niadels can deliver better lives for workers and stronger economics for enterprises. With Elevar on board, we are set up to build what lasts, not just what trends, a trusted home for India’s migrating workforce.”

About Nia.one

Nia.one, owned and operated by Umoja Marketplace Technologies Private Limited, is India’s first full-stack migration infrastructure platform for gig and blue-collar workers. It combines jobs (Flow), essential services and housing (Studio), community and outcomes (Tribe), and an AI-led guide (Rafiki) into Niadel hubs located within walking distance of major work sites. Nia.one’s mission is to convert migration into stability by improving worker retention, increasing savings, and delivering reliable manpower to enterprises across logistics, e-commerce, manufacturing, and services. Learn more at Nia.one.

About Elevar Equity

Elevar Equity pioneered the commercial approach to impact investing, backing seasoned entrepreneurs building large-scale, enduring businesses focused on Entrepreneurial Households and the EPIC Opportunity. Elevar was early in identifying the entrepreneurial trends within these households and has consistently invested in this thesis since 2006, starting with microfinance and quickly expanding to affordable housing, healthcare, education, agriculture, and small businesses (MSMEs). With two decades of ground-up field insights and the scale journeys of 50+ companies, the Elevar Method of investing has delivered high-priority services to over 60 million Entrepreneurial Households across India and Latin America. Learn more atelevarequity.com.

For more information and media queries, please contact:

Afrin Shaikh | Associate Director

Slough PR

9930257896

afrin@sloughpr.com

sloughpr.comm@gmail.com

Afroz Shaikh

9987860688

afroz@sloughpr.com

afrozsloughpr@gmail.com

Manufacturing startup Brandworks Technologies raises $4 Mn in funding

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Nikita Kumawat, co-founder of Brandworks Technologies

Brandworks Technologies, a Mumbai-based manufacturing startup, has raised $4 million from the Roha Family Office in the second tranche of its ongoing funding round.

Earlier in August, the company had secured $7 million in the first tranche, which was led by Cactus Partners with participation from GVFL and several family offices. With this fresh capital, Brandworks aims to accelerate research and development (R&D) in AI hardware, IoT platforms, and connected device ecosystems, while also expanding its global footprint.

“We are expanding our R&D to create more intellectual property (IP) products. That’s how we can evade the competition,” said Nikita Kumawat, cofounder and director of Brandworks Technologies. She added that the company is currently filing IPs for its home audio products, strengthening its innovation-led approach.

The Mumbai-headquartered company oversees the entire process—from product design to manufacturing—across a wide range of categories, including home audio systems, fintech soundboxes, surveillance devices, power electronics, and personal audio equipment for both domestic and international clients.

At present, Brandworks’ manufacturing facility in Mumbai employs around 250 people. To further advance innovation, the company recently opened an R&D office in Bengaluru. “We are in conversation with partners in Taiwan to begin our operations there. We are also exploring options in Hong Kong,” Kumawat told, emphasizing the company’s intent to strengthen its global partnerships.

Highlighting the strategic alignment, Mahesh Tibrewala, managing director of Roha Family Office, said, “Their focus (Brandworks) on quality, innovation, and operational excellence, along with a deep understanding of global supply chains, aligns seamlessly with the Make in India initiative.”

India’s manufacturing landscape is rapidly evolving. According to a report by early-stage venture firm 3one4 Capital released in April, the sector is shifting from traditional, scale-driven models to those anchored in IP creation, research, and automation.

Brandworks already counts Unbox Robotics, a warehouse automation startup, and agri-tech firm Fasal, which uses precision farming technology, among its key clients.

Meanwhile, venture capital interest in manufacturing startups has seen a strong surge this year. For instance, in June, Fabheads, a composite manufacturing technology company, raised $10 million through a mix of debt and equity from Accel and others. Similarly, in October, mobility startup Tsuyo Manufacturing raised $4.5 million in a round led by Avaana Capital, signaling growing investor confidence in India’s next-generation manufacturing ecosystem.

Swedish autonomous truck startup Einride eyes public debut via $1.8 Bn SPAC deal

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Swedish autonomous truck company Einride has announced plans to go public in the United States through a SPAC merger with Legato Merger Corp., valuing the company at USD 1.8 billion. The upcoming New York Stock Exchange listing marks a pivotal milestone for Einride, which is on a mission to transform global freight transport with its electric and self-driving vehicles.

By merging with a Special Purpose Acquisition Company (SPAC), Einride is choosing a faster and more efficient path to the public markets, thereby bypassing the longer and costlier traditional IPO route. Moreover, the deal will close in the first half of 2026 and could generate around USD 219 million in gross proceeds, excluding any potential redemptions and transaction-related expenses.

In addition to the SPAC merger, the startup plans to raise up to USD 100 million through Private Investment in Public Equity (PIPE) financing. The company intends to channel these funds into scaling production, enhancing its technology, and expanding strategic partnerships worldwide. This move follows its USD 100 million funding round led by existing investors EQT Ventures and IonQ, reinforcing investor confidence in its long-term vision.

Founded in 2016 by Robert Falck, Filip Lilja, and Linnea Kornehed, Einride is building a sustainable freight ecosystem that integrates autonomous driving, electrification, and data-driven logistics. Its heavy-duty electric truck fleet, managed through Saga, the company’s proprietary route planning and optimization platform, demonstrates how technology can reduce emissions while boosting efficiency in large-scale logistics operations.

Headquartered in Austin, Texas, Einride has rapidly expanded across Europe and North America, supported by its USD 500 million fundraising in 2022. The planned SPAC listing marks the next chapter in the company’s growth story, enabling broader commercialization and mass manufacturing scale-up. If successful, this public debut will make it one of the few European deep-tech mobility companies to achieve a major U.S. public listing, further solidifying its position as a global leader in electric and autonomous freight.

Roozbeh Charli, CEO of Einride, said, “Today marks a defining moment for Einride and for the future of freight technology. We’ve proven the technology, built trust with global customers, and shown that autonomous and electric operations are not just possible but better. This transaction positions us to accelerate our global expansion and continue to deliver with speed and precision for our customers. The foundation is built, the demand is clear, and our focus is on execution and delivering the future of freight.”

Eric Rosenfeld, Chief SPAC Officer of Legato, added, “This transaction with Einride aligns with our vision to bring industry-leading, innovative technology to the public markets. Einride’s proven customer relationships, regulatory achievements, and technology platform position the company to be a leader in the transformation of the freight industry. We believe that the market fundamentals are strong, the timing is right, and Einride has the operational excellence to capitalize on this massive shift in how goods move around the world.”

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