The funding round is expected to value Ema at approximately $800 million, representing a two-to-three-fold increase from its previous fundraising rounds in 2024, according to people familiar with the matter. The startup had raised $25 million in March 2024 before extending the round in July 2024 to secure an additional $36 million.

Ema and Creaegis did not respond to queries regarding the reported fundraising discussions.

If completed, the transaction would rank among the largest AI funding deals involving an India-linked startup, following Sarvam’s $300 million fundraising and Emergent’s $130 million round. The investment would also mark Creaegis’ second major AI bet within a week after the investment firm led Emergent’s $130 million financing at a valuation that increased fivefold.

The discussions highlight the accelerating momentum in India’s AI startup ecosystem, where investors are increasingly backing companies building practical AI applications for enterprises. Earlier this month, Moneycontrol reported that at least half a dozen early-stage AI startups were negotiating fresh funding rounds with investors including Flipkart co-founder Binny Bansal, Eternal Group CEO Albinder Dhindsa, family offices such as Claypond Capital, and several venture capital firms amid rising enthusiasm for artificial intelligence ventures.

Founded in San Francisco in 2023, Ema is led by founder and chief executive Surojit Chatterjee, who previously served as chief product officer at Coinbase and held leadership positions at Google and Walmart-owned Flipkart. The company’s co-founder and chief technology officer, Souvik Sen, previously worked at Okta and Google.

Together, Chatterjee and Sen bring decades of expertise across machine learning, enterprise software and advertising technology, while holding more than 40 and 37 patents, respectively.

Ema develops generative AI assistants designed to help enterprises improve operational efficiency and productivity across multiple business functions. The platform enables organisations to build and deploy AI assistants for a range of enterprise use cases.

Describing the platform’s capabilities earlier, Chatterjee said, “Enterprises can build on and deploy Ema for use cases around improving efficiency and boosting productivity across organisational functions. It comes with ‘standard personas’ of customer support and data professionals apart from more complex roles with its Generative Workflow Engine.”

The startup also boasts a distinguished investor base that includes venture capital firms such as Prosus, Accel, S32, Wipro, Frontier Ventures and Firebolt. Beyond institutional investors, Ema has attracted several prominent Silicon Valley entrepreneurs as angel investors, including former Meta chief operating officer Sheryl Sandberg, Facebook co-founder and Asana chief executive Dustin Moskovitz, Yahoo co-founder and AME Cloud Ventures founder Jerry Yang, ICONIQ Capital founder and chief executive Divesh Makan, and Roblox co-founder and chief executive David Baszucki.

The reported fundraising underscores the growing appetite among investors for enterprise AI startups capable of delivering practical business applications. As enterprises continue adopting AI-powered automation and productivity tools, companies developing scalable enterprise AI platforms are attracting larger investments and higher valuations.

Ema’s proposed funding round, if completed, is expected to strengthen its product development efforts and expand its enterprise AI platform, enabling the company to accelerate adoption of its generative AI assistants across global businesses while capitalising on the rapid growth of the enterprise AI market.

Notably, the equity round has valued Firmus at $5.5 billion post-money. In addition, leading AI chipmaker Nvidia also participated in the investment, further strengthening the company’s strategic positioning in the AI ecosystem.

Furthermore, Firmus stated that it will deploy the funds to accelerate its ambitious Project Southgate initiative. This project focuses on building a large-scale network of AI factories across Australia. Developed in collaboration with Nvidia and CDC Data Centres, the initiative is expected to reach a capacity of up to 1.6 gigawatts over the next three years.

Meanwhile, this latest equity funding follows a significant $10 billion debt package that the company finalized in February. The debt round was led by Coatue and global investment giant Blackstone, highlighting strong institutional confidence in Firmus’ long-term growth strategy.

Overall, Firmus is rapidly positioning itself as a key player in the global AI infrastructure space. As demand for scalable AI computing continues to surge, the company is well placed to capitalize on emerging opportunities across the Asia-Pacific market while strengthening Australia’s role in next-generation AI development.

Firmus’ latest funding round marks a significant milestone in its expansion journey. By combining strong investor backing, strategic partnerships, and large-scale infrastructure initiatives, the company is set to play a pivotal role in shaping the future of AI infrastructure in the Asia-Pacific region.

The Ideathon witnessed participation from 38 fintechs, techfins, and technology innovators who submitted solutions aligned with real-world business use cases identified by HDB Financial Services. Moreover, the program aimed to uncover scalable, technology-driven approaches capable of enhancing accessibility, improving service delivery, and boosting operational agility across India’s financial ecosystem.

Subsequently, the Ideathon shortlisted 10 high-potential teams, who worked closely with mentors from HDB Financial Services and AWS over several weeks. During this phase, participants leveraged AWS’s cloud infrastructure, data capabilities, and generative AI tools to design solutions tailored to real operational challenges within HDB’s business environment.

The final stage featured Shark Tank-style presentations, where innovators showcased how emerging technologies can address long-standing inefficiencies and unlock new opportunities in financial services. Following a rigorous evaluation process, Noventiq emerged as the winner for its Agentic AI solution. Meanwhile, Nugget by Zomato and Ganit Business Solutions Pvt Ltd secured the runner-up positions with their scalable, technology-driven offerings.

Commenting on the successful conclusion, G Ramesh said, “Through this Ideathon, we have seen how startups can build enterprise-scale solutions that improve operational efficiency while also supporting financial inclusion across India. The collaboration demonstrates the potential of combining innovation with the scale and reach of established financial institutions.”

Looking ahead, the selected winners will enter a pilot phase with HDB Financial Services, opening pathways for potential long-term commercial partnerships. These pilots will focus on integrating the solutions into HDB’s extensive pan-India network of over 1,700 branches. As a result, customers can expect faster, more seamless, and highly personalised financial services, including improved access to affordable credit, reduced turnaround times, and enhanced overall service experience.

New investors joining the alliance include Qualcomm Ventures, Activate AI, InfoEdge Ventures, Chirate Ventures, and Kalaari Capital. The initiative, launched in September with an initial $1 billion commitment, aims to back companies in areas such as space, semiconductors, artificial intelligence, and robotics.

As a founding member and strategic advisor, Nvidia will offer technical guidance, training, and policy input to help Indian deep-tech startups leverage its AI and computing tools.

The move reflects efforts to address the persistent underfunding of research-driven startups, which often face challenges in attracting venture capital due to long development timelines and uncertain profitability.

The announcement comes shortly after the Indian government unveiled a $12 billion R&D initiative to boost innovation in a country known for its services sector but still lagging in manufacturing. According to Nasscom, funding for India’s deep-tech startups grew 78% to $1.6 billion last year, though it still accounted for only one-fifth of the $7.4 billion raised across startups overall.

In April, entrepreneurs criticised an Indian minister’s call for startups to focus on high-end technology instead of consumer services, arguing that the government must provide stronger support to promote innovation.

Experts emphasize that deep-tech investment is critical for developing core technologies like semiconductors and artificial intelligence, which underpin economic and strategic independence.

Sriram Viswanathan, founding managing partner at Celesta Capital, said the increasing government focus has made this the ideal moment for India to deepen its tech ambitions.

“There’s no better time for India to look at deep tech,” Viswanathan said.

Celesta—an investor in Agnikul Cosmos and IdeaForge—helped launch the alliance alongside Accel, Blume Ventures, Gaja Capital, and Premji Invest, among others.

Members of the alliance plan to deploy their own capital into Indian deep-tech startups over the next five to ten years, while offering mentorship and network access.

“There’s no real pooling of capital. It’s voluntary,” Viswanathan added, comparing the structure to Nasscom.

Flam will use the new capital to expand its operations in North America, Europe, and the Middle East, while also strengthening its presence in Asia. It will support the scaling of infrastructure, the development of new products, and the launch of a comprehensive enterprise suite focused on GenAI-powered mixed reality (MR) tools.

Shourya Agarwal, Malhar Patil, and Amit Gaiki, BITS Pilani alumni, founded Flam to create foundational infrastructure that delivers real-time 3D and MR experiences directly to users, without requiring app downloads or redirects, and with latency under 300 milliseconds.

“Series A capital brings in laser focus to ship the GenAI tool-chain that brands and enterprises have been begging for—an enterprise suite across channels to make experiences engaging, measurable, and interactive,” said Shourya Agarwal, Co-founder and CEO of Flam.

The AI infrastructure startup will offer upcoming tools that include automated 3D asset generation, a self-serve publishing platform for MR content, an integrated advertising suite, and analytics dashboards. These tools are designed specifically for use in sectors such as retail, sports, broadcasting, and live events.

Over 100 major brands, including Google, Samsung, Emirates, Dabur, AJIO, Flipkart, and Tanishq, already use Flam’s platform. The company has also deployed its technology in high-profile political campaigns, such as the US Presidential Elections. Flam’s technology enables brands to transform static touchpoints—such as packaging, digital ads, and TV broadcasts—into engaging and interactive MR experiences.

Nishit Garg, Partner at RTP Global, said, “What excites us is not just the technology, but the clarity of vision and speed of execution. Shourya, Malhar, and team are building a category-defining company—and we’re excited to be part of their journey in this next phase of growth.”

The AI infrastructure startup is further expanding its partner ecosystem by enabling creative studios and platforms to rapidly build and launch MR content at scale. This move represents a bold step towards reshaping how brands engage with consumers in the GenAI era, offering more dynamic and immersive experiences.

Originally priced at $699, the AI Pin was promoted as a potential smartphone alternative, generating significant buzz through high-profile marketing campaigns, including appearances at events like Paris Fashion Week. Time magazine even recognized it as one of the best inventions of 2023. However, the device faced widespread criticism upon release, with negative reviews highlighting its flaws, ultimately leading to its downfall.

Established in 2019 by husband-and-wife duo Imran Chaudhri and Bethany Bongiorno, Humane started to revolutionize AI with its screenless, conversational AI Pin. Both co-founders had previously worked at Apple, with Chaudhri playing a key role in shaping the iPhone’s interface.

Humane initially positioned the AI Pin as a groundbreaking wearable, but customers encountered challenges once they started using it. Users reported overheating issues, while the AI software frequently delivered inaccurate responses. Despite ambitious plans to sell 100,000 units in its first year, Humane secured only about 10,000 orders.

Roughly a week after the AI Pin reviews came out, HP, a leading computer manufacturer, began talks with Humane about a potential acquisition valued at over $1 billion. Other bidders also showed interest, though discussions remained informal.

Last year, Humane brought in an investment bank to explore a possible sale while seeking fresh funding. The San Francisco-based startup had secured $240 million from prominent Silicon Valley investors, including OpenAI CEO Sam Altman and Salesforce CEO Marc Benioff, who valued the company at $1 billion based on its vision and potential. According to its founders, Humane spent five years developing the AI Pin.

In its announcement, HP stated that it would leverage Humane’s technology to become a more “experience-led company.” With the acquisition, HP will establish an innovation lab called HP IQ, which will focus on “building an intelligent ecosystem across HP’s products and services.” Chaudhri and Bongiorno will join HP as part of the deal.

HP, a leading PC and printer manufacturer, has steadily incorporated AI features into its laptops and other products. However, like many competitors, the company largely relies on Microsoft to implement AI capabilities within Windows-based computers.

WTFund offers grant funding of up to ₹20 lakh, expert mentorship, and strategic partnerships to help early-stage startups scale their operations and impact. By democratizing access to funding, the initiative serves as a launchpad for first-time founders, fostering a culture of innovation, resilience, and continuous learning. Its mission is to bridge key gaps in India’s startup ecosystem while empowering young entrepreneurs to build scalable, high-impact ventures.

This year, WTFund received applications from over 50 cities across India, including many from tier 2, tier 3, and remote regions. The second cohort showcases innovative solutions across diverse sectors such as technology/SaaS, D2C, edtech, fintech, health tech, agritech, and cleantech—demonstrating the growing depth of India’s entrepreneurial talent.

The applications also revealed a strong mobile-first approach across all tiers. At the same time, tier 1 startups leverage AI/ML for advanced B2B solutions, and founders from tier 2 and 3 cities are building vernacular-first, B2C products tailored to India’s diverse and dynamic markets. These innovations not only address local challenges but also offer globally scalable solutions.

The nine standout startups in the second cohort are Nasadya, InnerGize, Armatrix, Drnk, Neoperk, ReferRush, Modus AI, Bytes, and Ai.gnosis—each bringing fresh, impactful ideas.

WTFund, under the leadership of Nikhil Kamath, continues to empower India’s next generation of entrepreneurs by providing early-stage grants without immediate equity dilution. The fund supports founders tackling critical issues in health tech, AI, space tech, and energy transition sectors. Through accessible capital, mentorship, and growth resources, WTFund is nurturing bold, risk-taking innovators poised to shape India’s entrepreneurial landscape.

Amwoodo Eco-Products Pvt. Ltd. stands out as an inspiration for innovation and sustainability in a world where environmental concerns are increasingly paramount. This journey is made possible by a consortium of forward-thinking investors, including Zerodha, Upaya Social Ventures, Caspian Impact, and Revx, who share Amwoodo’s dedication to transforming the bamboo industry. Their support has earned the company recognition and profoundly impacted the lives of marginalized communities across India.

Amwoodo’s mission is to revolutionize the bamboo industry by creating sustainable products that enhance guest experiences and contribute to the socio-economic development of the communities where they operate. The company’s eco-friendly hotel and guest amenities, including dental kits, comb kits, shaving kits, and other dry amenities, are products and experiences that can be customized to meet its clients’ branding and packaging needs. By choosing Amwoodo’s products, companies like Taj Group enhance their guest experience and contribute to the upliftment of marginalized communities.

Amwoodo’s products are designed to be sustainable and eco-friendly. Bamboo, a rapidly renewable resource, creates biodegradable products that require minimal water, pesticides, and fertilizers during cultivation. This reduces environmental impact and supports the development of a sustainable agricultural sector. Amwoodo’s commitment to innovation extends beyond product development. It actively engages with and contributes to the communities where it operates, ensuring its employees, farmers, and artisans earn fair wages and access better economic opportunities, health insurance, and educational support.

Amwoodo’s core values are environmental stewardship, purposeful innovation, ethical practices, community engagement, continuous learning and growth, and happiness. These values guide every company’s decision, ensuring its actions align with its purpose of creating a positive and sustainable impact. The company’s commitment to sustainability is evident in its ESG vision, which incorporates the philosophy of “Zero Harm, Zero Waste, Zero Discharge.”

Amwoodo’s social impact initiatives are extensive. They empower farmers through artisan reskilling and revolutionize agriculture. The company provides credit facilities, climate resilience support, and modern technical skills to farmers and artisans, enabling them to thrive in a rapidly evolving market. Amwoodo’s commitment to social responsibility extends beyond manufacturing, as it works to impact the lives of those around it positively.

Amwoodo’s achievements are numerous. The company has secured a spot in the top five at the Tata Social Enterprise Challenge 2023-24 and has won the Sustainability Innovator Awards 2023-24 for Best Innovation. These accolades underscore Amwoodo’s dedication to pushing the boundaries of sustainable solutions and its pivotal role as a catalyst for positive environmental change.

In conclusion, Amwoodo Eco-Products Pvt. Ltd. is a shining example of how innovation and sustainability can work together to create a better future. By embracing bamboo as a sustainable resource, Amwoodo reduces environmental impact, empowers communities, and creates a more harmonious relationship with the environment. As Amwoodo continues to lead the way in sustainable manufacturing, it inspires a global shift towards a more sustainable and resilient future for future generations.

The startup, founded only three months ago by Varun Vummadi and Esha Manideep Dinne, specializes in enabling enterprises to personalize and deploy large language models securely. Their platform empowers businesses to utilize LLMs like GPT-4 directly on their own servers.

Enterprises can take GigaML’s base model and further customize it to meet their specific requirements. Additionally, the company offers X1 code chat, which serves as an enterprise self-hosted alternative to GitHub Copilot.

The Bengaluru-based startup competes directly with companies like Mosaic ML and Together AI.

Nexus portfolio includes Postman, Apollo.io, MinIO, Fingerprint, Nx, Druva, Hasura, Observe.ai, Delhivery, H2O.ai, Quizizz, Sibros, TileDB, Turtlemint, Unacademy, Zepto, and Zomato, among others.

By integrating the cutting-edge technology of drones and the creativity of art, the collaboration between DroneAcharya and Studio Trika can potentially establish a new entertainment genre. The partnership aims to offer distinctive experiences to its customers by utilising Studio Trika’s artistic capabilities and DroneAcharya’s drone technology expertise.

In 2009, Chandrakanth Rajapure and Vineet Sabharwal founded Studio Trika, a collaborative environment that fuses art and technology to produce immersive experiences like drone light shows. They illuminate iconic Indian cultural monuments using cutting-edge technology and ongoing innovation, reaching millions of viewers in real-time and introducing leading brands to new media concepts.