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TrueFoundry secures $19M to revolutionize AI deployment at scale

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L-R- Nikunj Bajaj -Anuraag Gutgutia- Abhishek Choudhary

TrueFoundry, a top AI deployment and scaling platform, has secured $19 million in Series A Funding led by Intel Capital. The funding round also saw participation from existing investors Eniac Ventures, Peak XV’s Surge (formerly Sequoia Capital India & SEA), and new investor Jump Capital. Notable angel investors contributed, including Gokul Rajaram, Mohit Aron, Cyan Banister, and executives from Fortune 1000 companies.

With this latest investment, TrueFoundry’s total funding reaches $21 million. The capital will accelerate its mission of building a universal AI development and AI deployment platform that eliminates infrastructure complexities. The funds will drive team expansion, go-to-market strategies, and customer growth efforts. Additionally, Avi Bharadwaj, Investment Director at Intel Capital, will join TrueFoundry’s board of directors.

“Enterprises using TrueFoundry have built and launched their internal AI platforms in as little as two months, achieving return on investment within four months—a stark contrast to the industry average of 14 months,” said Nikunj Bajaj, chief executive officer and co-founder of TrueFoundry.

TrueFoundry, based in India, offers a cloud-native platform designed to simplify machine learning (ML) training and deployment, enabling enterprises to manage their AI applications efficiently. By collaborating with industry leaders like Games 24×7 and Whatfix, TrueFoundry enhances ML scalability while optimizing infrastructure resources. Its platform facilitates fast model deployment—often within minutes—significantly reducing the time and effort typically required for AI implementation.

“TrueFoundry is uniquely positioned to address the growing complexities of AI deployment,” said Intel Capital’s investment director Avi Bharadwaj. “Their platform simplifies the process for AI teams, enabling them to build, deploy, and scale applications with speed and efficiency.”

TrueFoundry has enabled its customers to speed up development cycles, deliver business value 10 times faster, reduce infrastructure costs, and scale efficiently with leaner teams. For instance, the platform optimized NVIDIA’s GPU utilization for large language model (LLM) workloads by automating resource allocation and job scheduling, minimizing idle time, lowering costs, and enhancing overall efficiency.

“At TrueFoundry, we’re building a future where AI manages AI—removing the bottlenecks of human intervention and unlocking unparalleled speed and scale,” said Abhishek Choudhary, chief technology officer and co-founder of TrueFoundry.

TrueFoundry’s unified Platform-as-a-Service (PaaS) empowers enterprise AI and ML teams to develop, deploy, and manage LLM applications across cloud and on-premises infrastructure with speed, scalability, and security. The platform is designed with a developer-first interface and streamlines AI deployment, enabling full-stack data scientists to independently build, test, and scale applications without dependencies.

The company has experienced 4x year-on-year growth in its customer base and has successfully deployed over 1,000 ML clusters across its clients. TrueFoundry collaborates with Fortune 500 companies and major enterprises, including Siemens Healthineers, ResMed, Automation Anywhere, Games 24×7, and NVIDIA.

Looking ahead, TrueFoundry aims to revolutionize AI deployment with its AI Agent—a proactive, self-sustaining system designed to anticipate challenges and adapt dynamically.

Deepika Padukone-backed wellness brand Nua Secures ₹35-Cr funding for growth

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Women’s wellness and hygiene brand Nua has secured ₹35 crore in a pre-Series C funding round led by Mirabilis Investment Trust. Investors, including Samir Singh and ShuchiKothari, participated.

The Mumbai-based company has now raised $21.5 million, including this latest round, from existing investors such as Lightbox VC, Kae Capital, actress Deepika Padukone, and VindiBanga.

According to a press release, Nua will use the funds to expand its retail presence and launch new products across key channels, including marketplaces, quick commerce, and offline retail.

“The past 12 months have been exceptional for Nua. Not only have we become profitable, but we have also grown over 2.5x in revenue. We reached an important milestone by becoming profitable in Q2, crossed Rs. 100 Cr net revenue ARR in Q3 and are now on track to reach Rs 150 Cr net revenue ARR in the next quarter. The capital raised in the current round will accelerate our journey to achieving the growth milestones we have set for ourselves,” says Ravi Ramachandran, CEO & Co-founder.

Founded in 2017 by Abhishek Ramanathan, Nua is a digital-first women’s wellness company dedicated to providing holistic and personalized solutions to women’s real challenges. Initially known for its innovative, toxin-free sanitary pads, the brand has expanded its portfolio to include period panties, intimate hygiene products, cramp-care solutions, postpartum care, and products for managing cyclical acne.

Nua differentiates itself in the growing market by focusing on a comprehensive approach to women’s wellness, offering safe, high-quality products, engaging content, and fostering a strong community. The company plans to accelerate growth over the next 6–8 quarters by investing in new products, content, and emerging distribution channels.

In the past year, Nua has introduced several new product categories emphasizing comfort and toxin-free formulations, such as extra-long night pads, disposable period panties, menstrual cups, and postpartum essentials. Its products are on its website and leading e-commerce platforms like Zepto, Amazon, and Flipkart.

Market research indicates that the global feminine hygiene products market projects to grow from $31.8 billion in 2023 to approximately $66.7 billion by 2033, with a CAGR of 7.7% from 2024 to 2033.

Nua reports significant growth, having become profitable while increasing revenue by 2.5x. It achieved profitability in Q2, surpassed ₹100 crore in net revenue ARR in Q3, and aims to reach ₹150 crore in the next quarter.

Nua rivals established brands such as Whisper, Stayfree, and Sofy in the competitive feminine hygiene space.

Sandhouse Hospitality plans pre-series round to fuel expansion this year

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Sandhouse Hospitality, the parent company of the Sandburgs QSR chain, is aiming for pan-India expansion and plans to raise funds through several pre-series rounds this year.

Founded in 2015 by brothers Pankaj Alagh and Danny Alagh in Delhi NCR, Sandburgs is a premium gourmet burger brand. After a slow start until 2021, the brand has rapidly expanded from 2 outlets to 10 in the past few years.

“We currently have a presence in 5 cities in north India: Delhi, Gurugram, Chandigarh, Dehradun and Mohali. We are looking at adding 10 to 15 more outlets soon. Our target is to have 50 to 60 outlets in the next 4 years,” said Danny Alagh, co-founder and CEO of the company, who takes care of the marketing and growth strategies of the brand.

The brand currently supplies its outlets from a central kitchen in Delhi NCR, which, as per Alagh, can support more than 30 locations.

Talking about the capacity expansion and brand expansion, Alagh said that they are in “active conversations with multiple VCs” for funding.

“We are in the process of raising a pre-series A round now. After that, we will expand our central kitchen capacity to 12,000 to 15,000 square feet, which can support at least 200 outlets,” said Alagh.

He stated that their strategy is concentrating on one city at a time. They plan to strengthen the brand’s presence in Delhi NCR by adding at least 8 to 10 more outlets.

“We want to expand to cities in the south and the west – Bengaluru, Mumbai, Pune, etc,” he informed.

Discussing the brand and its promise, Alagh said they position themselves in the “premium gourmet burger space,” focusing on providing customers with a healthy snacking experience.

“All our bread, patties and sauces are prepared in-house and on a daily basis. We are not offering factory food that has been frozen for months. Even with our shakes, we do it with premium ice cream, milk, and fresh fruits. Our coffee is premium Arabica by Blue Tokai. We have been partners of Blue Tokai for 9 years now,” he said.

Regarding the business model, Alagh shared that all 10 existing outlets are currently company-owned and operated. The brand functions in three formats—food courts, dine-in, and dark kitchens. He added that they focus on premium malls, food courts, high streets, and upscale residential areas.

As a QSR brand, Alagh stated that its standard operating procedures are highly reliable and emphasise hygiene and safety.

“We are a chefless model. Everything is done in a central kitchen. Only the assembly, toasting, grilling, or frying happen at the outlet. Staff can be trained in a week’s time. We have machines which eliminate chances of error completely,” he said.

Indonesian recommerce startup secures pre-seed funding

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Liquid8, an Indonesian startup, has secured pre-seed funding from SPIL Ventures to strengthen its recommerce solutions. The funding will help reduce overstock waste and support Indonesia’s micro, small, and medium enterprises (MSMEs). 

Established in 2023 by Mike Roosevelt and Niko Abdulrachman, Liquid8 aims to tackle inefficiencies in the ecommerce and waste management sectors. 

In 2024, the company reported processing over 2,700 tons of overstock, redirecting unsold items to the wholesale market and offering affordable inventory to small businesses.

Liquid8, an Indonesian startup, has secured pre-seed funding from SPIL Ventures to strengthen its recommerce solutions. 

The funding will help reduce overstock waste and support Indonesia’s micro, small, and medium enterprises (MSMEs). Established in 2023 by Mike Roosevelt and Niko Abdulrachman, Liquid8 aims to tackle inefficiencies in the ecommerce and waste management sectors. 

In 2024, the company reported processing over 2,700 tons of overstock, redirecting unsold items to the wholesale market and offering affordable inventory to small businesses.

Google introduces new class of cheap AI models as cost concerns intensify

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Alphabet’s Google introduced updates to its Gemini family of large language models, including a new product line designed to compete with budget-friendly AI models, such as those from Chinese rival DeepSeek.

Google provides multiple versions of its Gemini models, each differing in price and performance. While it previously offered a lightweight variant called “Flash,” the newly introduced “Flash-Lite” is even more cost-effective. On Wednesday, the company rolled out Gemini 2.0 Flash to the public after a developer preview in December. Additionally, it launched Flash-Lite and began testing an updated version of its flagship “Pro” model.

According to Koray Kavukcuoglu, Chief Technology Officer of Google’s DeepMind AI lab, the company developed Flash-Lite after receiving positive feedback on the 1.5 version of Flash. In a press release, he noted that Gemini 2.0 Flash is more expensive than its predecessor. Recently, the cost of developing and using AI models has drawn investor attention, especially after DeepSeek disclosed that its final training run cost under $6 million. However, developers at top U.S. AI firms suggested that the actual expenses were likely significantly higher.

DeepSeek’s emergence has raised questions during earnings calls for Alphabet, Microsoft, and Meta, which have reaffirmed their commitment to significant capital investments in AI.

On Tuesday, Alphabet’s shares declined, partly due to investor concerns over a planned increase in capital expenditures, which exceeded Wall Street expectations by 29%.

Google prices certain inputs on Gemini Flash-Lite at $0.019 per 1 million tokens, the data units an AI model processes. OpenAI charges $0.075 for its cost-efficient flagship model, while DeepSeek sets its budget model at $0.014. However, DeepSeek states on its website that it will raise its pricing fivefold on February 8.

Print Media captures 73% of jewellery ad spend in 2024, highlighting its continued elevance

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India, January, 2025: The report sheds light on television’s role as a key media instrument for jewellery brands, with General Entertainment Channels (GECs) accounting for 45% of the total advertising expenditure. News and Sports channels followed with 36% and 9%, respectively. Advertising campaigns prominently featured celebrity endorsements, with brands like Kalyan Jewellers leveraging the star power of Bollywood icons such as Janhvi Kapoor and Alia Bhatt. This strategy secured Kalyan Jewellers the position of the top advertiser on television, contributing 20% of the total jewellery ad spend in 2024.

While television continues to captivate a broad audience, print media remains dominant, commanding 73% of the total advertising spending during 2024. Titan Company led print advertising with an 11% share, followed by Malabar Group and Kalyan Jewellers at 8% and 7%, respectively. Regional publications, particularly in South India, accounted for 28% of Print ad investments, where Eenadu topped the list, followed by Times of India. Compared to 2023, around 1700+ sponsors were present solely in 2024.

Digital advertising also witnessed remarkable growth, reflecting shifts in consumer behaviour. Display ads dominated with an 87% share of ad volume on digital platforms, while video content accounted for 13%. Facebook emerged as the top digital advertising platform, commanding 75% of Digital ad spend, followed by YouTube at 11%. August Jewellery was the leading digital advertiser, contributing 34% of the sector’s digital spend.

Sharing his insights on the findings, Vaishal Dalal, Co-founder & Director of Excellent Publicity, commented, “Television, radio, and print media have always been reliable mediums for the jewellery industry’s advertising. However, the technological revolution has brought about a remarkable change in people’s content-viewing habits. This behavioural change has opened up new avenues of online advertising formats for brands to connect with their audiences. The jewellery sector is no exception, embracing digital media to stay relevant and engage with its target consumers. With the endless possibilities digital offers, the future holds immense potential for growth and innovation in this space. It’ll be interesting to see how jewellery brands leverage different platforms in the future to get an edge in the market.”

Regarding demographics, the report highlights South India contributing 28% to the overall national ad spend, followed closely by the North zone at 30%. Southern publications (like Eenadu and The Times of India), alongside Radio Mirchi, were key for brands aiming to connect with their target audiences. 

As the wedding season approaches, expected to boost consumer demand, jewellery brands will continue strategically using traditional and digital platforms to engage audiences and capture their attention effectively.

Fintech firm Cashfree Payments bags $53M in fresh funding round

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Akash Sinha, chief executive officer and co-founder of Cashfree Payments

Fintech firm Cashfree Payments secured $53 million in a funding round led by Korean digital entertainment giant Krafton and existing investor Apis Growth Fund II, managed by UK-based Apis Partners Group.

The Bengaluru-based company stated that the new investment will enhance its payment solutions and expand its market presence.

“This collaboration will also position Cashfree to leverage synergies with Krafton, fueling innovation and pioneering new solutions across multiple digital sectors,” the company said in a statement.

Before this round, the company had raised $44 million in funding, according to data from market intelligence platform Tracxn.

“This investment will help us accelerate our key efforts—across cross-border and security innovations and international expansion—as we enter the next phase of our growth journey. We are focused on driving profitable growth as we scale,” said Akash Sinha, chief executive officer and co-founder of Cashfree Payments.

Cashfree Payments processes transactions worth $80 billion annually and serves a network of 800,000 merchants, including internet startups and large enterprises. In India, its clients include major brands such as Swiggy, redBus, Zepto, BigBasket, and Bajaj Finance. The company also expands its footprint in the United Arab Emirates (UAE).

Currently, Cashfree holds three key licenses: an online payment aggregator license, a payment aggregator license for cross-border transactions, and a prepaid payments instrument (PPI) authorization.

“As the media and entertainment sector and content consumption patterns in India continue to evolve, full-stack payment systems that specifically address the sector’s needs are crucial for enhancing user experience. This investment is part of Krafton’s ongoing efforts to support innovative solutions that drive growth and foster a dynamic startup ecosystem,” said Sean Hyunil Sohn, chief executive officer of Krafton India.

OYO to invest £50 Million in UK for premium hotel expansion

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Travel tech unicorn OYO announced on Tuesday its plans to invest £50 million (Rs 539.57 crore) in the UK over the next three years, aiming to expand its premium hotel portfolio. According to a company statement, this investment aims to create 1,000 jobs in the UK hospitality sector during this period.

OYO is making a strategic shift by prioritizing the premiumization of its UK portfolio, focusing on acquiring high-end properties through long-term leasehold and management contracts. Additionally, the company is in advanced discussions with major hotel chains and real estate firms for potential asset management deals.

“OYO’s investment in premium hotels will not only strengthen our tourism infrastructure but back our ambitious ‘Showcase Britain’ initiative, helping to boost economic growth as part of our Plan for Change,” said the UK Minister for Investment Baroness Poppy Gustafsson OBE in the statement.

Puneet Yadav, Country Head of OYO UK, stated that the company entered the UK market in 2018, adopting a model that had already been successful in other international markets.

“While we continue to cater to the budget segment, we are now focused on expanding through leasehold agreements and management contracts with premium properties. Additionally, we plan to introduce several of our popular European brands to the UK market, further diversifying our offerings and meeting evolving customer needs,” Yadav stated.

The investment was announced on the sidelines of the Nasscom delegation to the UK, organized by The Department of Business and Trade, UK.

Appreciating the role taken up by tech startups in strengthening the Indo-UK trade, Rajesh Nambiar, President of Nasscom, said, “India’s tech startup ecosystem has evolved into a global force, driving innovation and economic growth beyond its borders. Proud to see tech startups like OYO strengthening trade ties between both the nations, playing a crucial role in increasing the bilateral trade from USD 42 billion to USD 50 billion and beyond”.

OYO operates over 200 hotels in the UK, primarily in the budget segment, spanning 65 cities, with key hubs in London, Manchester, Birmingham, Cardiff, and Brighton.

Recently, the company unveiled plans to launch more than 40 premium self-operated hotels through leasehold contracts within this financial year. So far, it has onboarded 18 hotels under this model and aims to add 22 more across major cities, including London, Birmingham, Manchester, Liverpool, Glasgow, Bristol, Cardiff, and Edinburgh.

In 2024, OYO’s parent company, Oravel Stays Limited, entered the UK’s premium market by launching SUNDAY Lansbury Heritage in Canary Wharf.

Indonesian Fund, Mitsui compete for $300M stake in toll operator RKE: Sources

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Indonesia’s sovereign wealth fund, the Indonesia Investment Authority (INA), and Japan’s Mitsui & Co are actively bidding for CVC Capital Partners’ 25% stake in Indonesian toll road operator RKE International, whose valuation is up to $300 million, according to two sources familiar with the matter.

Luxembourg-based investment firm CVC initiated the sale process for its 25% stake in RKE International, also known as Road King Expressway International Holdings, in late 2024. According to one of the sources, the sale has drawn interest from financial investors and strategic companies.

Both sources indicated that the potential deal could value CVC’s stake at approximately $250 million to $300 million, implying a total valuation of up to $1 billion for the entire company.

RKE International owns the remaining shares of Road King Infrastructure, a Hong Kong-listed property development and infrastructure group.

As the matter is private, the sources requested anonymity.

CVC declined to comment, while RKE International and Road King did not respond to emailed inquiries. INA stated it could not comment, and Mitsui refrained from discussing individual transactions.

The sale occurs amid increasing interest from global investors in Southeast Asia’s infrastructure sector, driven by the region’s strong growth potential and stable, long-term returns, especially in the face of global economic uncertainties.

According to Road King’s website, RKE International operates a toll road portfolio comprising four expressways in Indonesia, spanning approximately 335 kilometres (208.2 miles) across Central Java, East Java, and North Sumatra.

In 2018, according to a previous announcement, CVC invested 2 billion Hong Kong dollars ($256.7 million) in RKE International, which managed a portfolio of expressways in China.

In November 2023, RKE International divested its Chinese expressway assets, selling them to Hong Kong-based Cornerstone Holdings Ltd. for 4.4 billion yuan ($606.8 million), as per stock exchange filings.

Budget 2025 allocates Rs 10,000-Cr ‘Fund of Funds’ boost for startups

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In the Union Budget 2025, the Indian startup sector received a significant boost as Finance Minister Nirmala Sitharaman announced the creation of a new Fund of Funds (FoF), with a fresh allocation of Rs 10,000 crore and an expanded scope.

According to the FM, the previous FoF, also with an investment of Rs 10,000 crore, successfully generated commitments totalling Rs 91,000 crore.

“The renewal of the Rs 10,000 crore commitment to the Fund of Funds for AIFs is a significant step forward for the Indian startup and investment ecosystem. The initial Rs 10,000 crore commitment catalysed ₹91,000 crore in investments, and I fully expect this fresh infusion to attract an additional ₹1 lakh to ₹1.5 lakh crore in capital,” Anirudh Damani, managing partner, Artha Venture Funds.

Damani added that this initiative will provide much-needed growth capital to early-stage startups, further strengthening India’s position as a global innovation hub. “We are supremely excited about this development and look forward to actively participating in this next wave of investment momentum,” he said.

The government launched the first Fund of Funds (FoF) in 2016, channelling these funds through SEBI-registered AIFs.This initiative has significantly boosted the Indian startup ecosystem in recent years. The Finance Minister also announced a new scheme to support 5 lakh women entrepreneurs from SC/ST communities.

Focusing on research and development (R&D), the FM introduced a FoF for the deep tech sector, designed to stimulate the growth of next-generation startups in India. Over the next 5 years, the Centre will provide 10,000 fellowships for tech research at IITs and IISc.

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