EMO Energy raises $6.2Mn in Series A Funding

January 7, 2025

EMO Energy, a deep-tech energy startup, has secured $6.2 million in its Series A funding round led by Subhkam Ventures. The round also included participation from new and existing investors, such as Microtek Group, SRK Family Office, and Transition VC.

Founded in 2022 by industry veterans Sheetanshu Tyagi and Rahul Patel—who bring experience from Tesla, Rivian, Ather, and General Motors—EMO Energy is revolutionizing the urban energy sector with its cutting-edge battery hardware and software solutions.

The newly raised capital will enable the company to scale its two-wheeler energy solutions to over 100,000 vehicles within the next two years and support the deployment of 1 GWh of energy storage. Additionally, funds will enhance the company’s proprietary battery health optimization software, bolstering research and development efforts and expanding its team to address increasing operational needs.

“Our focus is to create an integrated urban energy solution by deploying batteries and chargers in energy storage and light mobility. Over the last 12 months, EMO has forged critical high-volume partnerships across major OEMs, and with the latest infusion of capital, we are now well-equipped to scale from 2 to 2,000 kWh,” said Sheetanshu Tyagi, co-founder and CEO of EMO Energy.

“EMO is creating an ecosystem where dark stores and commercial establishments will have EMO-enabled delivery vehicles powered by EMO fast chargers and energy storage systems, all managed by an integrated energy management software. This funding will accelerate our mission to reshape the future of urban India and expand our impact on sustainable solutions for the future of clean energy,” added Tyagi.

EMO Energy leverages its proprietary cell-agnostic technology platform, ZEN, to deliver ultra-fast charging capabilities—fully charging in just 20 minutes—while extending battery lifespan to over five years. This patented solution integrates an AI-powered battery management system, active thermal regulation, and machine learning-driven algorithms for battery life enhancement. The technology is best for mobility and energy storage applications. It unlocks a multi-billion-dollar market potential across electric two-wheelers, light commercial vehicles, and industrial green energy storage systems.

EMO Energy has deployed over 2,000 battery packs in the mobility sector. The company is also conducting production-ready pilots for energy storage systems (ESS) designed to provide peak load management and backup power, serving as an eco-friendly alternative to diesel generators in industrial and commercial environments. Notable clients include Kinetic Green, BigBasket, Domino’s, and Blinkit.

Bitcoin wallet developer JAN3 raises $5M in seed funding

BRL Editor

January 6, 2025

Bitcoin wallet developer raises $5M in seed funding — JAN3 CEO Samson Mow

JAN3, the creators of the widely-used Bitcoin wallet AQUA, has secured $5 million in seed funding to expedite the development of their Bitcoin-centric super app.

The funding round, led by Fulgur Ventures, included participation from investors like Tether, Grupo Salinas, Lightning Ventures, East Ventures, and others, according to the company’s statement. This new investment builds on a pre-seed round in early 2023, where the firm raised $620,000.

“JAN3’s AQUA wallet has found excellent product-market fit by offering the perfect balance of saving in Bitcoin with spending in USDT,” said Paolo Ardoino, CEO of Tether.

The company revealed plans to allocate $1 million from the funding to create a Bitcoin treasury, acquiring 12 BTC at an average price of $83,333.33 per Bitcoin.

“The new seed funding will take AQUA to the next phase of its mission to onboard a billion people to Bitcoin,” the announcement states. “With the new funding, our priority will shift to growth and adding more Marketplace integrations, such as credit cards, loans, and local on/off ramps.”

The company announced the funding round on January 3, coinciding with the 16th anniversary of Bitcoin’s Genesis Block mining. The Bitcoin-focused app also integrates the Liquid Network, a Bitcoin sidechain developed by Blockstream, and provides native support for Tether’s stablecoin through this integration.

“We’ve managed to create a Bitcoin Superapp that’s able to deliver real utility and will be useful in daily life around the world,” said JAN3 CEO Samson Mow. “It just works, and it’s only going to get even better.”

By integrating advanced features like the Liquid Network and native support for Tether’s stablecoin, the company is reinforcing its commitment to innovation within the Bitcoin Ecosystem. As it continues to expand and evolve, JAN3 aims to empower users further and contribute to the broader adoption of Bitcoin and blockchain technology.

Royal Orchid Hotels expands footprint in Rajasthan with new property in Khatoo

BRL Editor

January 6, 2025

Royal Orchid Hotels (ROHL) has unveiled plans for a new property in Khatoo, Rajasthan, a town famed for the Shree Khatu Shyamji Temple, one of India’s most popular spiritual destinations. The soon-to-be-launched Anantam Hotel & Resort aims to serve the millions of devotees and leisure travellers who flock to this revered site yearly.

Speaking on the announcement, Arjun Baljee, President of Royal Orchid Hotels Ltd., said, “Expanding our presence in spiritual epicentres across India is one of our core business priorities. Khatu Shyam Temple is one of North India’s fastest-growing religious hubs and has witnessed a record influx of 250 cr tourists in 2023. We are enthusiastic about the prospect of entering this territory of spiritual allure and are confident that this new property, backed by our trademark hospitality and impeccable services, will be a sought-after destination for both leisure and spiritual travellers.”

Conveniently situated just 2 km from the Shree Khatu Shyamji Temple, the 120-key Anantam Hotel & Resort will boast 14 luxurious suites, a swimming pool, and versatile event spaces, including a 7,000-square-foot banquet hall and a sprawling 25,000-square-foot lawn. Guests can indulge in a variety of dining experiences, including a casual South Indian café, a fine dining restaurant, and an open-air barbecue with stunning views of the tranquil surroundings.

Director Anantam Hotel & Resorts Rajender Kumar Agarwal & Dinesh Kumar Agarwal added, “This collaboration with ROHL heralds a new chapter for us. Khatu Shyam Ji is a revered spiritual destination, and devotees travel from far and wide to seek the blessings of Shree Khatu Shyam Ji. We have worked together with ROHL with a shared vision of creating a world-class experience for our guests visiting this sacred land.”

Anantam Resort will welcome guests in February 2025, promising a blend of luxury and spirituality in this iconic pilgrimage destination.

Indian real estate’s institutional investments touched $6.5 billion in 2024, industrial and warehousing dominate: Report

BRL Editor

January 6, 2025

Institutional investments in Indian real estate exceeded $6.5 billion in 2024, reflecting a 22% rise from the previous year’s $5.4 billion, as per a report by Colliers India. The industrial and warehousing sector led the way, attracting $2.5 billion, or 39% of the total investment, closely followed by the office sector, which accounted for 36%.

The report highlighted that in 2024, the industrial and warehousing sector captured the largest share of total real estate investments at 39%, surpassing the office sector.

The country’s strong manufacturing and industrial growth in 2024 reflects key macroeconomic indicators, including the Manufacturing Purchasing Manager’s Index (PMI) and the Index of Industrial Production (IIP).

The residential sector saw significant growth in 2024, attracting $1.1 billion, a 46% increase compared to 2023. Foreign investments dominated the real estate market, contributing $4.3 billion, or 66% of the total inflows. Domestic investments also experienced steady growth, rising by 27% year-on-year.

The fourth quarter of 2024 saw a strong performance, with investments reaching $1.9 billion—2.3 times higher than in 2023. Domestic investments played a significant role in Q4 2024, accounting for 43% of the total inflows. The report emphasized that this reflects India-based institutional investors’ increasing confidence alongside international investors’ continued interest.

“Private equity investments in Indian real estate have witnessed strong momentum in 2024, buoyed by robust domestic growth and sustained investor confidence. With record $6.5 billion inflows in 2024, Indian realty investments have been the highest since 2020. Interestingly, APAC investors drove almost one-third of the foreign inflows in the country’s real estate during the year,” Badal Yagnik, Chief Executive Officer, Colliers India, said.

He noted that Tier-I cities expect to remain the primary destination for capital, driven by government support for infrastructure development and the ‘Make in India’ initiative. While global investor confidence will likely stay positive, 2025 expects greater capital allocation from domestic investors across office, residential, and industrial sectors.

The report also highlighted that while multi-city deals comprised 39% of the total, Mumbai received approximately $1.6 billion in investments, representing 24% of the country’s real estate inflows in 2024.

The office sector dominated Mumbai’s investment landscape, capturing 58% of the city’s annual inflows, primarily in select developmental assets. The industrial and warehousing sectors followed, accounting for 20% of the real estate investments in Mumbai during the year. Investment inflows in Bengaluru, Chennai, and Delhi NCR remained stable, each holding an 8-9% share of total investments.

“The year 2024 was a watershed year for real estate investments in India, wherein industrial and warehousing asset inflows surpassed annual investments in the office segment. With $2.5 billion inflows, large-sized deals drove industrial and warehousing investments in 2024,” Vimal Nadar, Senior Director and Head of Research at Colliers India, said.

He added that the growing demand for high-quality Grade A developments and shifting supply-chain models will continue encouraging investors to focus on consolidating industrial and warehousing assets in India. Additionally, expanding manufacturing and strong consumption levels will draw domestic and global investments in ready-to-use and developmental industrial properties.

Consint.AI secures Rs 5-Cr for GenAI-driven Healthcare Insurance Solutions

BRL Editor

January 6, 2025

Consint.AI, a GenAI-powered healthcare insurance fraud and risk management startup, has raised Rs 5 crore in a seed funding round led by Equanimity Ventures and Seafund.

The funds will scale operations by expanding sales efforts and fast-tracking the Generative AI Feature Suite development for its Health AI Platform.

This platform includes advancements in fraud detection, streamlined claims processing, and personalized clinical care, aiming to drive innovation in healthcare.

The capital will also be used for team expansion, infrastructure enhancements, and R&D initiatives to solidify its position as a leader in health tech solutions.

Established in 2020 by Ashish Chaturvedi, with Swadeep Singh later joining as Co-Founder, Consint.AI is a trailblazer in Generative AI-powered healthcare fraud detection and risk management, committed to revolutionizing healthcare transactions and personalized care.

The company focuses on streamlining healthcare claims processing to make it more affordable and efficient through innovative platforms like Risk.ai, which enhances insurance transaction efficiency and fraud prevention, and CIPHR.ai, designed to improve critical patient management and simplify claims generation.

Leveraging advanced Generative AI technologies, Consint.AI empowers businesses in emerging markets and the U.S. to deliver value-based care, boost operational efficiency, and achieve sustainable growth.

Over the past year, Consint.AI has grown significantly, expanding its presence across India, the Middle East, and Africa. The startup recently introduced CIPHR.ai, an AI-powered platform designed specifically for hospitals, built on proprietary Generative AI models to transform personalized care in critical patient management.

CIPHR.ai delivers intelligence at the point of care and streamlines claims transactions, improving efficiency for healthcare providers. Targeted at emerging health markets and the U.S. Accountable Care Organization (ACO) sector, the platform leverages Generative AI to meet the dynamic demands of modern healthcare systems.

Consint.AI reported Rs 10 crore in signed contracts in the past two quarters, including several multi-year deals with prominent insurance providers and hospital networks. This underscores strong market validation and a growing demand for its innovative solutions, particularly in Generative AI and Document Forensics.

Ashish Chaturvedi, Founder and CEO of Consint, said, “This current market traction and milestones highlight the transformative potential of Generative AI in reshaping healthcare as we know it. At Consint, we are pioneering GenAI-driven platforms like CIPHR.ai and Risk.ai to solve complex challenges in healthcare transactions and personalized care. Our focus remains on advancing our Generative AI capabilities to drive innovation, deliver impactful solutions, and empower businesses globally to achieve seamless operations and value-based care. This funding accelerates our mission to lead the charge in AI-powered healthcare transformation.”

Manoj Agarwal, managing partner at Seafund, said, “Our focus on emerging tech like GenAI, deep tech, IoT, and sustainability has been the guiding force when it comes to backing unique and innovative startups. Consent.AI’s laser-sharp focus on solving the problem of healthcare Insurance claims processing and fraud detection, improving the performance of Insurance and Healthcare institutions is a multi-billion dollar problem to solve, and we believe that we have the necessary expertise and network to help the company grow and reach its ambitions.”

Imperfecto Mehfil adds touch of royal elegance to Omaxe Chowk in Chandni Chowk

BRL Editor

January 4, 2025

Imperfecto Mehfil by Bel Cibo has officially launched in the iconic Omaxe Chowk, Chandni Chowk, redefining Mughal-inspired dining. Spread across 6,000 square feet, the restaurant seamlessly blends royal Mughal aesthetics with authentic Mughlai cuisine, offering a truly immersive experience.

Featuring intricately crafted décor, baithak-style seating, and vintage chandeliers, ImperfectoMehfil transports guests to an era of regal elegance. The menu highlights the richness of Mughlai cuisine with standout dishes like Tandoori Raan, Nargisi Kofta, and Akbari Dal, complemented by refreshing drinks such as Mohabbat ka Sharbat.

Speaking about the launch, Jatin Goel, Executive Director of Omaxe Group, stated: “Our vision for Omaxe Chowk is to establish it as a premier culinary destination, offering a diverse range of dining experiences that celebrate both local and global flavors. With the addition of Imperfecto Mehfil, we are further enhancing this vision, introducing a refined dining experience that blends regal Mughal aesthetics with exceptional culinary craftsmanship. Omaxe Chowk is quickly becoming the go-to destination for food lovers, making it a true cultural and culinary landmark.

Situated in the heart of Delhi’s iconic Chandni Chowk, Omaxe Chowk is a premier destination for retail and dining, blending rich heritage with contemporary style. Home to Dawatpur, India’s largest food court, it offers an unparalleled culinary experience alongside an array of premium dining options. Visitors can also explore extensive shopping opportunities, including fashion, accessories, home décor, and electronics, making OmaxeChowk a vibrant hub for food, culture, and lifestyle.

Omaxe Chowk is a paradise for food lovers, offering an unmatched culinary experience that ranges from local street delicacies to global cuisines. Boasting world-class facilities and a prime location, it has become the go-to destination for dining, shopping, and leisure, drawing visitors from all over India. Adding to its culinary allure is Imperfecto Mehfil, the latest gem in Omaxe Chowk’s lineup, which elevates dining with its perfect fusion of heritage, sophistication, and exquisite flavors.

Papa John’s aims for 2025 India re-entry after delay

BRL Editor

January 4, 2025

Papa John’s left India in 2017, citing its restaurants’ inability to meet both the brand’s and franchisees’ expectations. Since then, competitors like Domino’s Pizza and Pizza Hut have gained popularity as more Indians turn to international cuisine. However, India “remains a priority” for the company, and a spokesperson confirmed that Papa John’s plans to open its first restaurants in the country this year.

As part of its 2023 strategy, the company set a goal to expand to 650 outlets over the next ten years.

“India is a complex market with unique consumer preferences. We are taking the time to ensure our franchise partner opens with the right products and menu, technology, and restaurant footprint to ensure their long-term success,” the company said.

Inflation is tightening the budgets of middle-class consumers, causing some businesses to delay their expansion plans. Tata Consumer Products, which operates Starbucks in India through a joint venture, has postponed opening several new outlets to a later date. Despite these challenges, consumer analysts in India remain optimistic about the long-term prospects for Western fast-food brands. They point to the country’s growing dining-out culture and the increasing urbanization of smaller towns as factors that will drive future demand.

Papa John’s, with over 5,900 locations in around 50 countries and territories, continues to see global growth despite the current hurdles in India. As the Indian market continues to evolve, Papa John’s and other international brands may find significant expansion opportunities driven by changing consumer habits and economic progress.

Swave Photonics secures €27M funding to revolutionize Augmented Reality smart glasses

BRL Editor

January 4, 2025

Swave Photonics, a Leuven-based augmented reality (AR) startup, has announced the successful closure of its €27 million Series A funding round. The investment will support the development of their Holographic eXtended Reality (HXR) platform. This funding aims to deliver a reality-first user experience for AI-driven Augmented Reality smart glasses and heads-up displays.

The round was co-led by imec.xpand and SFPIM Relaunch, with additional contributions from new investors EIC Fund, IAG Capital Partners, and Murata Electronics North America, Inc., alongside existing backers Qbic Fund, PMV, imec, and Luminate.

Swave raised a €10 million Seed round in 2023, which propelled the launch of Swave’s HXR technology and the expansion of Swave’s team, which claims to leverage “the top minds in photonics and semiconductors. “

“This round will accelerate Swave’s product introductions as we continue to solve the challenges of today’s Augmented Reality experiences through true holography,” said Mike Noonen, SwaveCEO. “We are thrilled with continued support from our existing investors and our new investors. They recognize that Swave uniquely brings together semiconductor, holographic, and AI technologies in a way that will deliver cost-effective and truly useful solutions.”

Founded in 2022, Swave is a spin-off from Imec that leverages CMOS chip technology to enable cost-effective, scalable, and rapid commercialization.

The company focuses on developing chipsets that power AI-driven, reality-first spatial computing. Swave claims its HXR display technology is the first to achieve true holography by shaping lightwaves into natural, high-resolution images. This proprietary technology supports compact designs while delivering a seamless and natural viewing experience.

“AR glasses are set to become the primary interface for AI-powered spatial computing and other applications, and Swave is uniquely positioned to enable this future,” said Theo Marescaux, Swave co-founder and Chief Product Officer. “We are co-designing every element—from our holographic SLMs with cutting-edge nano-pixels to real-time computechips, light engines, and AR combiners—delivering the most advanced and integrated solution yet.”

Swave’s HXR technology employs the “world’s smallest pixel” to manipulate light and create high-quality 3D holographic images. These images deliver a reality-first user experience, seamlessly integrating digital information with the user’s environment. Using its patented DynamicDepth technology, the system enables the human vision system to process the images naturally.

Swave points out that current AR devices, whether in prototype or on the market, face challenges such as high costs, bulky size and weight, excessive power consumption, and visual issues like Vergence-Accommodation Conflict, leading to nausea or fatigue for users.

In contrast, Swave claims that its HXR technology addresses these problems while eliminating the need for expensive components like waveguides or varifocal lenses, which are typically essential in existing AR devices.

“With Swave’s seed funding, we successfully built our team, proved the capabilities of the technology, and completed prototype designs,” said Dmitri Choutov, co-founder and Chief Operating Officer. “With Series A funding secured and silicon running at our partner fabs, we are on track to introduce product development kits and, soon thereafter, production devices.”

Tech startups poised for growth in 2025 with private funding boom and IPO wave

BRL Editor

January 4, 2025

For startups, securing funding remains a top priority. Industry experts predict that 2025 could be a pivotal year, with an anticipated revival in funding flows and an increase in smaller IPOs entering the market. This trend may provide startups with improved access to capital. Will the new year positively change India’s startup ecosystem, boosting investments and public listings on Dalal Street? According to industry leaders, 2025 holds promise for such advancements. Following a noticeable recovery in these areas during 2024, the momentum will gain further traction in 2025.

“Funding made a comeback in 2024, and more early-stage deals will happen in the next year, but there will be no crazy money or super aggressive investors like in 2021-which is good for the ecosystem,” TCM Sundaram, founder, and vice chairman of Chiratae Ventures, was quoted in the media as saying.

Reports reveal that in 2024, startups secured over $5 billion through various means, including public issues, partial sales via OFS (Offer for Sale) exercises, secondary deals, and block trades. This marked a significant surge compared to 2023 when just raising $0.7 billion through such exits. Additionally, cumulative funding in 2024 climbed to $11 billion, representing a 14.58% increase from the $9.6 billion recorded in 2023.

For example, according to published data, the following amounts were raised through OFS by these IPOs in 2024: Swiggy $808 million, FirstCry $299.2 million, Ola Electric $76.3 million, Blackbuck $66.9 million. “Founders see IPOs as real value unlocking, and we are seeing a fundamental shift here where entrepreneurs want to step down from the constant fundraising treadmill, which leads to dilution of their in their shareholding gradually,” Ashish Dave, CEO of Mirae Asset Ventures Investments (India), was quoted in the media as saying.

Funding trends for startups saw an upturn in 2024. After declining for four consecutive six-month periods since 2022, the first half of 2024 reversed the pattern seen in the latter half of 2023. According to the India Tech Semi-Annual Funding Report (H1 2024) by Tracxn, tech startups raised $4.1 billion during the first half of 2024, reflecting a 4% increase from $3.96 billion in H2 2023. However, this figure also represented a 13% drop compared to the $4.8 billion raised in H1 2023.

From a different perspective, India fell one spot behind China in tech startup funding. During the first half of 2024, Chinese startups secured $6.2 billion, whereas Indian startups managed to raise $4.1 billion in the same timeframe.

DPIIT signs MoU with Startup Policy Forum to strengthen startup ecosystem

BRL Editor

January 3, 2025

The Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of Commerce & Industry, has entered into a landmark partnership with the Startup Policy Forum (SPF), a prominent industry body representing India’s leading new-age companies.

As part of the collaboration, during National Startup Week celebrations, the SPF Baithak—a gathering of entrepreneurs and policymakers—will occur on January 15-16 at Bharat Mandapam. The event will serve as a platform to unveil new initiatives between DPIIT and SPF members. Additionally, Startup Policy Forum will work with DPIIT to host specialized immersive programs, allowing global investors to connect with Indian startups and witness the nation’s cutting-edge innovations firsthand.

Speaking about the partnership, Shri Sanjiv, Joint Secretary of Startup India, emphasized that this collaboration reflects DPIIT’s unwavering dedication to fostering a supportive environment for startups, contributing significantly to India’s vision of becoming a global innovation leader.

He further highlighted that Startup Policy Forum members embody the entrepreneurial spirit of India, and their involvement will play a pivotal role in achieving the nation’s goal of becoming a developed economy by 2047.

This alliance aims to elevate India’s startup ecosystem on the global stage by promoting partnerships among DPIIT and SPF members and strengthening ties with international stakeholders.

Meanwhile, Shweta Rajpal Kohli, President & CEO of Startup Policy Forum, remarked, “This alliance reflects the shared aspirations of DPIIT and SPF to build a resilient and thriving startup ecosystem. By facilitating useful collaborations amongst SPF members and DPIIT, we aim to ensure India’s position on the global innovation map and empower entrepreneurs to unlock their full potential.”

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