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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.

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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.”

AI startup Parallel Web Systems raises $100 Mn to redefine web access for AI

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Parag Agrawal, Founder, Parallel Web Systems

Former Twitter CEO Parag Agrawal’s artificial intelligence startup, Parallel Web Systems, has secured USD 100 million in Series A funding to advance its mission of creating web search infrastructure tailored for AI agents and building strategic partnerships with online content owners, as reported.

The funding round co-led by Kleiner Perkins and Index Ventures, with participation from Khosla Ventures and other existing investors, values the San Francisco-based startup at USD 740 million.

Speaking about the company’s vision, Agrawal said, “How many jobs are there where we could turn off web access and ask you to do the same job fully? You can’t deprive an M&A lawyer from not being able to use the web, so why would you deprive their agents?”

Founded a couple of years ago, Parallel Web Systems previously raised USD 30 million in January 2024. The company is now taking bold steps toward building a new layer of the internet, one that is optimized for machine use instead of traditional human browsing.

Its innovative technology enables AI systems to query and extract live, real-time web data through application programming interfaces (APIs). This capability could revolutionize how autonomous AI agents handle complex digital tasks such as coding, data analysis, and decision-making.

In an interview, Agrawal revealed that Parallel’s enterprise clients already leverage its APIs to empower AI systems that generate software code, analyze customer data for sales operations, and assess risk for insurance companies. According to him, such use cases rely heavily on high-quality, dynamic web data seamlessly integrated with internal systems.

Parallel Web Systems is addressing the growing demand for dependable, real-time web access as generative AI increasingly depends on current, live information rather than static datasets. By offering structured access points to the web, the startup aims to position itself as a key enabler of AI-driven automation across industries worldwide.

As the line between the digital and intelligent web continues to blur, Agrawal’s vision places Parallel Web Systems at the forefront of a new era—where machines can think, learn, and act using live web data.

Bombay Shaving Company raises ₹136-Cr to strengthen retail expansion

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Shantanu Deshpande, Founder & CEO, Bombay Shaving Company

D2C grooming and personal care brand Bombay Shaving Company has raised INR 136 Cr (around $16.3 Mn) in a funding round led by existing investor Sixth Sense Ventures, comprising a mix of primary and secondary infusion.

The round also saw participation from founder and CEO Shantanu Deshpande, former cricketer Rahul Dravid, and several undisclosed family offices and high-net-worth individuals (HNIs).

The company plans to utilize the fresh capital to expand its omnichannel presence, strengthen brand building, and prepare for a potential IPO.

Founded in 2016 by Shantanu Deshpande, Bombay Shaving Company began as a D2C men’s grooming brand and has since diversified into newer categories such as perfumes, face washes, and skincare, evolving into a comprehensive omnichannel brand. Alongside its men’s range, the company also operates Bombae, a dedicated women’s grooming brand offering razors, trimmers, wax strips, and other personal care products.

The brand sells through its own website, leading e-commerce and quick-commerce platforms, as well as offline retail outlets, strengthening its multi-channel distribution strategy.

On the financial front, the company claimed to have achieved PAT profitability in FY25, though it did not disclose the exact figure. In FY24, Bombay Shaving Company’s net loss narrowed by 23% to INR 62.1 Cr from INR 80 Cr in FY23, while operating revenue increased by 26% to INR 204 Cr from INR 161.8 Cr in the previous fiscal year.

Prior to this, the company raised INR 24 Cr in debt funding in April last year. It competes with other grooming and personal care brands such as Beardo, The Man Company, and Ustraa, along with established players like Gillette and Philips.

Operating in India’s rapidly expanding D2C ecosystem, Bombay Shaving Company continues to ride the wave of digital adoption, consumer evolution, and product innovation, as the market is projected to grow into a $300 Bn industry by 2030.

Zuper Hotels & Resorts launches Empire by Zuper near Bhopal

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Zuper Hotels & Resorts has announced the launch of Empire by Zuper, a contemporary resort located in Bakaniya, just an hour’s drive from Bhopal. Surrounded by lush green landscapes and serene countryside charm, the resort seamlessly combines natural beauty with modern sophistication, offering guests a luxurious retreat designed for relaxation and rejuvenation.

Spread across twelve acres of verdant surroundings, the resort features 38 elegantly designed accommodations, including Tulip and Lillian exclusive rooms, Magnolia rooms, and Azalea rooms—each with a private portico overlooking the peaceful landscape.

Akaal Singh Manchanda, Director of Zuper Hotels & Resorts, said, “Empire by Zuper is a refreshing perspective on hospitality and reveals an unseen side of India. It is definitely more than a resort—more of a landmark—where design and world-class comfort culminate. It is one of the most progressive steps yet, putting the entire region on India’s visible leisure map.” He further added, “Empire by Zuper stands out as one of the best resorts in Bhopal, hosting weddings, private gatherings, and grand celebrations. Thoughtfully crafted for the people of Bhopal, the resort combines luxurious spaces with warm hospitality to make every event unforgettable.”

Guests can indulge in two distinct dining experiences—Savour, a multi-cuisine restaurant offering global flavors, and Chaska, a rooftop brasserie featuring open-air views and a relaxed atmosphere. The resort also includes a private dining room for intimate gatherings and a well-stocked bar, where expert mixologists serve signature beverages.

For recreation, visitors can enjoy indoor games like carrom and table tennis, as well as fitness sessions, all surrounded by the property’s panoramic greenery. Designed with precision and style, Empire by Zuper seamlessly blends elegance, space, and nature, creating a sophisticated escape in the heart of Madhya Pradesh.

The Fern Hotels & Resorts strengthens footprint in South India with its 13th property

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Suhail Kannampilly, Managing Director, The Fern Hotels & Resorts

The Fern Hotels & Resorts has announced the signing of Rajpath Beacon Hotel Belagavi, located in the vibrant city of Belagavi, Karnataka. This new addition marks another milestone in the group’s steady expansion across South India, bringing the total number of operational and upcoming properties in the region to 13.

Suhail Kannampilly, Managing Director of The Fern Hotels & Resorts, said, “India’s hospitality landscape is witnessing rapid growth beyond traditional metros, with cities like Belagavi emerging as key demand drivers due to increasing business activity, improved connectivity, and evolving consumer preferences. Our presence in such markets aligns with our long-term vision of creating a strong network of well-positioned hotels that serve both business and leisure segments, delivering contemporary, value-driven hospitality that resonates with today’s discerning travellers.”

The upcoming hotel will feature 35 well-appointed guestrooms, offering a comfortable mix of modern amenities and stylish design. Each room will be crafted to cater to the needs of both business and leisure travelers, ensuring a relaxed and fulfilling stay experience.

Guests will also be able to enjoy an all-day dining restaurant serving a variety of cuisines in a warm and inviting ambiance, ideal for both casual dining and social gatherings.

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