News Room

2023-04-06

Curefoods, a cloud kitchen startup, said it has closed a funding round of about Rs 300 crore led by Flipkart founder Binny Bansal's Three State Ventures. It includes primary and secondary investments in the Bengaluru-based firm, which is run by former Flipkart executive Ankit Nagori.

Amazon Backs Indian Meat Startup FreshToHome In $104 Million Funding

2023-02-21

Amazon, through its India-focused Smbhav Venture Fund, has led a $104 million Series D financing round in the Bengaluru-headquartered startup. The new round for the startup, which also counts the development arm of the American government among its backers.

FreshToHome Raises $104 Million: What's Next For The Meat Delivery Startup?

2023-02-21

Meat delivery startup FreshToHome recently raised $104 Mn in funding that was led by Amazon's Sambhav Venture Fund. On #StartUpCentral Avanne Dubash spoke with Shan Kadavil CEO & Co-founder, FreshToHome to understand what the company plans to do with the new money.

Iron Pillar, Third Point, Others Invest $50 Mn In Ushur

Palo Alto

2023-02-16

Artificial intelligence-backed automation firm Ushur on Tuesday said it has raised $50 million (around Rs 413.3 crore) in its Series C funding round co-led by Third Point Ventures and Iron Pillar.

Ushur, Which Aims To Automate Aspects 7 Of The Customer Experience, Raises $50M

Palo Alto

2023-02-16

Ushur announced that it raised $50 million in a Series C round led by Third Point Ventures with participation from investors Iron Pillar, 8VC, Aflac Ventures and Pentland Ventures. Bringing the startup's total raised to $92 million, the funds will be put toward expanding Ushur's product portfolio, developing new Al innovations and moving into new regions and industry verticals.

Apple, Samsung partner Servify raises $65 million for its devices’ after-sales and management platform

2022-08-24

Servify, a startup that manages the lifecycle of devices for several popular smartphone vendors including Apple and Samsung in many markets, has raised $65 million as it eyes becoming a public company in two years.

Iron Pillar to raise $400 million to empower Indian tech startups: Report

2022-07-04

Leading investment company, Iron Pillar, which backs tech startups in India, is reportedly raising nearly $400 million to further help boost the country's startup ecosystem.

Tech-focused VC firm Iron Pillar sees an upside in India’s market correction

2022-06-20

Even as macroeconomic headwinds are threatning to derail the deal-making momentum in the short-to-medium term in India, limited partners (LPs), who invest in private equity (PE) and venture capital (VC) funds, are not necessarily worried.

Flat is the new up: A fight for survival, and an opportunity ahead, for Indian startups

2022-05-30

There were 14 Indian unicorns anointed in the first three months of 2022. And then none in April, and May managed to throw up one, according to the unicorn tracker by Venture Intelligence, a data insights company that tracks the Indian startup ecosystem.

India to have 250 unicorns by 2025

Delhi

2022-04-18

India has created 130 unicorns so far, generating a total value of $535 billion. But, many are choosing to base themselves in the U.S., shows a report by venture growth investor Iron Pillar.

Uniphore acquires AI-based knowledge automation firm Colabo

2022-04-14

Uniphore Technologies Inc, a conversational automation platform, on Wednesday said it has acquired an artificial intelligence (AI)-powered knowledge automation solution company Colabo.

Mohanjit Jolly of Iron Pillar on bridging the mid-stage gap, beyond capital, for Indian tech startups

2022-03-30

Mohanjit Jolly, partner at Iron Pillar, a mid-stage, growth capital provider that has notched up a small roster of very promising tech startups on its portfolio, which is into its second fund now. In this episode, Mohanjit talks about his career, which had multiple interesting transitions, the companies Iron Pillar is backing, and the value that the partners bring to them in the world's biggest tech markets.

Ratan Tata Backed BlueStone Bags $30 Million In Funding Round Led By Hero Enterprise Chairman

2022-03-21

Jewellery flatform Bluestone $30 million at a valuation of $410 million in a funding round led by Sunil Kany Munjal, the Chairman of Hero enterprise. With fresh capital, the omnichannel jewellery retailer is planning to scale manufacturing capabilities beyond iys two existing units in Mumbai and accelerate a nationwide store rollout.

Uniphore Backer Iron Pillar's Second Fund To Lean More Towards SaaS Firms

2022-03-21

Mid-stage focused venture capital firm Iron Pillar, backer of startups such as Freshtohome and recently turned unicorn Uniphore, expects its second fund to invest more in Indian companies that are building for the globe and consequently have a bias towards enterprise software-as-a-service (SaaS) firms, a top executive told VCCircle.

Iron Pillar invests in automation firm Jiffy’s $53 mn Series B Funding

New Delhi/Mumbai

2022-03-09

The round also saw participation from venture firms Iron Pillar, R-Squared, and existing investors Nexus Venture Partners, Reaction Capital and Rebright Partners, the company said in a statement.

Curefoods gets south India franchise rights for pizza chain Sbarro

2022-02-24

Cloud kitchen company Curefoods has acquired South India franchise rights for the US-based pizza chain Sbarro. As part of Curefoods, Sbarro will now actively expand in South India.

Servify Acquires 247around, an At-Home Service Platform

2022-02-23

Following the acquisition, 247around will operate as a group company of Servify. The transaction is expected to close in the next few weeks.

Uniphore A Unicorn As Startup Closes Largest Ever Funding Round For Call Center AI

New Jersey

2022-02-16

The size of the round "allows us to not have to take any more pitstops between now and us preparing to make the company public ready," says Uniphore cofounder and CEO Umesh Sachdev

Uniphore Announces $400 Million Series E Funding Round to Support Explosive Growth and Global Demand for Automating Conversations across the Enterprise; Valuation Climbs to $2.5 Billion

Palo Alto California

2022-02-16

Uniphore, the leader in conversational automation today announced its Series E funding round of $400 million. The round, which brings Uniphore’s total funding to more than half a billion ($610 million) is led by NEA and raises the company’s valuation to $2.5 billion. March Capital and other existing Uniphore investors along with new entities are also participating in this funding round.

FreshToHome announces expansion to over 150 cities, also set to launch 100 new stores

2022-02-11

Given the market’s great potential and the rise in demand for quality meat and seafood, we aim to provide customers with products at affordable rates and at their convenience,” said Shan Kadavil, Founder of FreshToHome

Sibros Attracts $70 Million Investment To Grow Its Over The Air Update Platform

New Jersey

2022-01-25

Silicon Valley tech company Sibros has cracked the code to develop tech any automaker can use for over-the-air updates and data capture. Thursday, Sibros announced a major cash infusion from a group of high profile companies.

Iron Pillar-Backed CoreStack’s Game Plan To Hit $1bn In Annual Recurring Revenue

2022-01-14

CoreStack Inc., a cloud governance and compliance software-as-a-service (SaaS) startup, is looking at acquiring its first clients from the oil and gas segment. The company is also considering its first acquisition, and planning to invest more in Europe and the Middle East as it seeks to become a $1 billion

Curefoods raises $62 mn from Iron Pillar, Binny Bansal, others

2022-01-12

Curefoods Pvt Ltd, a cloud kitchen startup floated by Cure.fit co-founder Ankit Nagori, has announced $62 million fundraising from existing investors Iron Pillar, Chiratae Ventures, Sixteenth Street Capital, Accel Partners and Binny Bansal.

Skill-Lync partners with Cyient to skill 500 trained professionals

Hyderabad

2021-12-08

Edtech start-up Skill-Lync has announced a partnership with engineering and digital technology solutions company Cyient to skill about 500 trained professionals by February 2022.

CoreStack Closes $30 Million Series B Financing Round Led by Avatar Growth Capital

California

2021-11-23

CoreStack, a global multi-cloud governance SaaS provider, today announced a $30 million Series B funding round led by Avatar Growth Capital, with continued participation from Dallas Venture Capital (DVC), Iron Pillar, and other angel investors. This brings CoreStack’s total funding to $45 million, following its Series A in March 2020, underscoring the growing enterprise demand for multi-cloud governance solutions.

Curefoods raises $13M from Iron Pillar, Nordstar, and Binny Bansal

2021-08-25

Curefoods, the spin off foodtech brand founded by Ankit Nagori in 2020, which operates brands like Eatfit, Yumlane, Aligarh House Biryani, and Masalabox, has raised $13 million funding led by Iron Pillar, Nordstar, and Binny Bansal.

FreshtoHome and BlueStone-backer Iron Pillar is planning to bring assets worth $1 billion under management

Chenai

2021-08-09

Technology-focused investment firm Iron Pillar is expecting to double its assets under management (AUM) by the end of 2022, as its portfolio companies continue to thrive during the pandemic. The company currently has a AUM of $500 million and is expected to hit $1 billion by December 2022.

Iron Pillar Ropes in Pavan Gupte as a Board Partner

2021-07-13

Mid stage focused venture capital firm Iron Pillar has roped in Pavan A Gupte, who has previously worked with private equity firms such as KKR and Adams Street Partners, as a board partner. Gupte has helped build investment management firms in Mumbai, London and Singapore covering emerging markets and western Europe.

150-year-old Allana Group invests $10M in Iron Pillar Fund II

2021-07-06

Technology-focused venture capital firm Iron Pillar has received an investment of $10 million from Allana Group in its Fund II. The 150-year-old group has manufacturing and distribution in 20 countries and has market leadership in oils, proteins, several FMCG brands and agri products.

Iron Pillar Raises $10M from Allana Group

Dubai

2021-07-06

Iron Pillar is a venture growth investor, focused on enterprise and consumer technology businesses that are building from India for the world. Since 2016, Iron Pillar has been working closely with extraordinary Founders to help them scale profitably from ~$10 million to $100 million+ in revenues. The firm has consistently executed this strategy across its marquee list of portfolio companies, including BlueStone, CureFoods, FreshToHome, Servify, Uniphore and others.

Servify acquires key businesses of Germany-based WebToGo

2021-04-14

Following this acquisition, Servify will be adding two of WebToGo's solutions to its portfolio as well as the German company's entire staff strength.

Iron Pillar Places Second Bet From New Fund On Automation Firm

2021-02-09

Mid-stage venture capital firm Iron Pillar on Tuesday said that it has invested in US-based no-code automation company Ushur Inc that makes products in Bengaluru. Iron Pillar said in a statement that this is its second investment from the new fund. Last year, the firm said it had made its debut bet from the fund in CoreStack, a cloud governance and compliance software-as-a-software (SaaS) startup.

Ushur raises $5M from Iron Pillar and Aflac Global Ventures as part of Series B investment

2021-02-09

Ushur, the Santa-Clara and Bengaluru-based no-code intelligent automation company, has raised $5 million as part of its $25 million Series B funding from growth investment firm Iron Pillar and Alfac Global Ventures. This is the second investment from Iron Pillar Fund II, targeting growth stage cloud software companies.

Iron Pillar Invests $4m In Saas Startup Corestack

2020-12-02

CoreStack, the Seattle-based cloud governance and compliance SaaS startup, has raised $4 million in funding led by Iron Pillar, the venture growth investor. This is the maiden investment made by Iron Pillar Fund II. The fund said in its press statement that it will be targeting growth-stage cloud software companies in Fund II. CoreStack will use the funds for continued market expansion. CoreStack has its development in Chennai.

Iron Pillar’s Second Fund Makes Debut Bet On SaaS Startup CoreStack

2020-12-02

Mid-stage venture capital firm Iron Pillar on Tuesday said that it has invested in US-based no-code automation company Ushur Inc that makes products in Bengaluru. Iron Pillar said in a statement that this is its second investment from the new fund. Last year, the firm said it had made its debut bet from the fund in CoreStack, a cloud governance and compliance software-as-a-software (SaaS) startup.

FreshToHome raises $121 million to expand in India, UAE

New Delhi/Dubai

2020-10-27

FreshToHome, a Bengaluru-based online fresh fish and meat retailer, has raised $121 million in Series C funding led by Investment Corporation of Dubai (ICD), the principal investment arm of the Government of Dubai. Investcorp, Ascent Capital, The United States International Development Finance Corporation (DFC) and Allana also participated in the round with significant follow-on investment of $19 million from Series B lead investor Iron Pillar.

Servify raises $23 million financing led by Iron Pillar

2020-09-24

Device lifecycle management platform Servify has raised $23 million in Series C funding, led by existing investor Iron Pillar, along with participation from Blume Ventures, Beenext, Tetrao SPF and Trifecta Capital.

Apple partner Servify raises $23 million to scale its devices after-sales and management platform overseas

2020-09-23

Servify, a Mumbai-headquartered startup that operates a device lifecycle management platform and works deeply with brands, including Apple and Samsung, in a number of geographies, has raised $23 million in a new financing round.

Q&A: Iron Pillar's Anand Prasanna

2020-06-11

Anand Prasanna, a managing partner at Indian venture capital firm Iron Pillar, on building local companies that can be globally relevant, selling a GP stake, and the impact of COVID-19.

Iron Pillar partners with Nitya Capital

2020-06-03

Venture growth investor Iron Pillar, a specialist in mid-stage tech investments in India, is partnering up with Nitya Capital, a US investment firm with USD2 billion in AuM. Nitya Capital invested in Iron Pillar Holdings Ltd, alongside founding partners Anand Prasanna, Mohanjit Jolly and Ashok Ananthakrishnan, as part of the deal

Podcast: Iron Pillar’s Anand Prasanna On Top-Up Fund And Advice To Startups On Layoffs

2020-05-21

Iron Pillar, a mid-stage-focussed venture capital firm, has invested in eight startups such as Uniphore, FreshToHome and Testbook from its debut fund of $90 million. It recently raised a top-up fund of $45 million to invest in its existing portfolio companies. The fund was oversubscribed.

Venture capital firm Iron Pillar adds $45 million top-up to its first fund

2020-05-18

Through its Fund-I, Iron Pillar has made eight investments, and witnessed one exit from SaaS company, Now Floats, which was acquired by Reliance Jio in DecemberRemote healthcare delivery and gaming continue to be interesting opportunites for investors, according to Iron Pillar

Iron Pillar tops up first fund with USD45 million

2020-05-18

Iron Pillar has closed its USD45 million Top Up Fund, which will top-up the Iron Pillar Fund I that held its final close in 2018 with capital commitments of USD90 million.

Important For Startups To Build A Network Of People, Says Author-Entrepreneur Chris Yeh

2020-03-11

Investor, professor, entrepreneur, mentor, and author Chris Yeh was in India recently to talk about his book ‘Blitzscaling’, which he co-authored with Reid Hoffman. Chris also co-authored another best-seller ‘The Alliance: Managing Talent in the Networked Age,’ with Reid Hoffman and Ben Casnocha in 2014.

Amid coronavirus outbreak, VC firms tell startups to brace for uncertainty

Mumbai/ Bangalore

2020-03-09

As Covid-19 continues to spread across the world and in India, creating curbs on travel and large business events, venture capital (VC) firms are advising startups and their portfolio companies to conserve cash and spend less, and brace for a possible uncertain fund-raising environment.

Reverse Pitch | 'Confluence of education and employability is a massive opportunity

2020-02-25

One of the biggest challenges and opportunities facing India is its young and massive population and the so-called demographic dividend—the ratio of working age population and the non-working people—that is going to be with India for the next 30 years. With a million young people entering the working world every month, India has to generate jobs to keep the unemployment rate under control. The confluence of education and employability, thus, is a massive opportunity in India that Iron Pillar is excited about.

India: Growth Investor Iron Pillar in talks to raise add-on fund

Singapore

2020-02-19

Venture capital fund Iron Pillar is in talks to raise a $30 million add-on fund to invest in existing portfolio companies such as online meat grocer FreshToHome and phone service management firm Servify.

Iron Pillar Execs On Funding Gap At Mid-Stage Level, Exit Pipeline, Valuations And More

2020-02-17

Iron Pillar is one of the few mid-stage tech investors in India. The venture capital firm, which launched its debut fund in 2016, is eyeing more capital. The firm made five more new investments including in online fish and meat seller Freshtohome and artificial intelligence (AI) startup Uniphore.

Iron Pillar Eyes More Capital After Fully Committing Debut Fund

2020-02-12

Iron Pillar, one of the few mid-stage-focused venture capital investors in India, is eyeing more capital after fully committing its debut fund, a top executive told VCCircle. The fund had announced its final close of fundraising at $90 million (Rs 666 crore then) in October 2018.

Availability of capital at the right time is key for startups: Mohanjit Jolly

Bangalore/Palo Alto

2020-02-02

Even as the early stage funding momentum in startups continue, 2019 saw a boom in growth stage funding, with newer venture capital funds entering this space.

Iron Pillar Leads Series B Funding In Ed-Tech Startup Testbook

2020-01-08

Testbook Edu Solutions Pvt. Ltd, which operates an eponymous education-technology platform focussed on government examination preparations, has raised Rs 60 crore (about $8.3 million) in its Series B funding round.

The charge of India’s unicorn brigade

2019-12-31

Six years ago, when venture capitalist Aileen Lee coined the term “unicorn”—to define the extreme rarity of startups valued north of $1 billion—there were just 39 in the US and only three Indian unicorns. Today, the US and China are home to over 200 each, while India has roughly 30!

How China’s Alibaba and Tencent are divvying up India’s unicorns

2019-12-17

CIhina’s two technology behemoths, Alibaba and Tencent, have been aggressively snapping up stakes in Indian startups in the last five years—and many of the firms they’ve helped fund have crossed the $1 billion threshold to become unicorns.

Reliance Industries acquires a majority stake in SaaS startup NowFloats for $20M

2019-12-13

Reliance Industries, one of India’s largest industrial houses, has acquired a majority stake in NowFloats, an Indian startup that helps businesses and individuals build online presence without any web developing skills.

InMobi, MuSigma and Druva among most capital efficient unicorns in India

2019-11-26

In a report on the 'Tech Unicorns Market Landscape', the venture capital firm stated that on an average, B2B global companies that are built from India, raised $97 million to reach unicorn status

India start-ups: Land of the giants

Hongkong/China

2019-11-25

Indian investors are savoring a rapid proliferation in billion-dollar technology start-ups, but as the unicorn heap gets bigger, an almost unrecognizable economy will pose new challenges

B2B unicorns need 50% less funds than B2C

2019-11-18

Startups that create software and other and other products for the global market need 50% less capital compared with consumer-focused startups building services in India to become a unicorn (privately held companies valued at over ($ 1 billion), according to an Iron Pillar report.

Iron Pillar’s inaugural India Tech Trends Report predicts big increase in tech unicorns by 2025

UK

2019-11-18

The inaugural India Tech Trends Report by mid-stage technology investment firm Iron Pillar reveals that while India generated almost one unicorn per year between 2011 to 2017, the number spiked to 11 in 2018, with 10 so far in 2019. Of the country’s current 30 tech unicorns, 21 of them were created in the last two years.

Where do India’s unicorn startups come from?

2019-11-16

While the Indian tech ecosystem is gaining prominence, the number of unicorns—startups valued at over a billion dollars—have risen in tandem. Once rare, and hence named after the mythical creature, these companies are now emerging faster than ever. A report from venture capital fund Iron Pillar, pointed out some interesting trends about these unicorns:

India’s FreshToHome raises $20M to grow its fish, meat, vegetable and milk e-commerce platform

2019-08-26

FreshToHome, a Bangalore-based e-commerce startup that sells fresh vegetable, fish, chicken and other kinds of meat, has raised $20 million in a new financing round as it looks to expand its footprint in the nation.

Uniphore raises $51 million in Series C funding

2019-08-13

Uniphore, a global conversational AI (Artificial Intelligence) technology company, on Tuesday said it has raised $51 million in Series C funding led by March Capital Partners, with participation from Chiratae Ventures (formerly IDG Ventures), Sistema Asia, CXO Fund, ITP, Iron Pillar, Patni Family, and other investors.

Growth stage investments hit a record $1 bn in January-June

2019-06-07

Growth stage investments in Indian startups set a record by breaching the billion-dollar mark in the first half of this year, as new investors doubled down on Series B and C rounds, generally considered the growth stage for startups.

VC investors see opportunity in India’s ‘missing mid stage’ funding

2019-04-15

Venture capital (VC) investors are increasingly participating in mid-series (Series B-C) fundraisings, attracted by more opportunities and lower competition.

Vyome Therapeutics raises $22M funding led by Iron Pillar

2019-01-04

Vyome Therapeutics' lead product, which targets the drug-resistant acne market, received approval of the US Food and Drug Administration for investigational drug discovery in January 2016.

Iron Pillar on Charting the Next Phase of Growth for Startups and Taking Them Global

2018-11-16

If you speak with any entrepreneur who’s worked with India-focused venture growth investor Iron Pillar, they’ll tell you that the primary attraction was never the capital. Instead, it is the venture fund’s six-member founding team, who – with their rich and varied skills and experiences – inspire the respect, trust, and confidence of enterprise startups looking to enter the next phase of growth.

Iron Pillar Goes Global with Its Strategic Alliance with Us-Based Draper Venture Network

2018-11-16

Iron Pillar announced it has joined the Draper Venture Network (DVN), a global alliance of independent venture capital firms with $1.8 billion in collective assets, in a move that will bolster the fund’s global access and reach for its growing portfolio of enterprise and consumer technology companies.

VC Firm Iron Pillar Marks Final Close Of Its $90 Mn Maiden Fund

2018-10-05

Mumbai-based venture growth fund Iron Pillar has announced the final close of its $90 Mn maiden fund.

OPIC Launches Venture Capital Program With Financing to India-Focused Iron Pillar

2018-10-05

The Overseas Private Investment Corporation (OPIC) on Friday announced the launch of a venture capital initiative designed to build on the agency’s existing financial tools by supporting venture capital funds investing in proven and emerging technologies that address critical challenges facing the developing world.

Iron Pillar makes final close of $90 million fund

2018-10-04

Iron Pillar, a mid-stage-focused venture capital (VC) firm, has made the final close of its $90 million maiden fund, senior company executives said.

Iron Pillar’s debut India Fund hits $20m first close

2017-05-08

Mumbai-based venture capital firm Iron Pillar has raised INR1.29m ($21m) at the first close of its debut fund.

Iron Pillar reaches $20m first close on debut fund

2017-05-08

Tech-focused venture capital firm, Iron Pillar, has made the first close of its maiden India fund at Rs 129 crore, bringing on board two major anchor investors, Small Industries Development Bank of India (Sidbi) and diversified financial services player IIFL.

VC firms like Iron Pillar, Zodius and B-Capital eye mid-stage deals

2017-04-21

A Mumbai-based software firm is raising $20 million in Series-B funding. Its existing investors are willing to chip in $5 million and it has identified three investors who are willing to bring in $4-5 million. The problem is it is unable to find an investor who can lead the Series-B round.

VCs anticipate challenges in a still-maturing India market

2017-02-24

India’s top venture capital funds are still looking for successful exits that are proving elusive in a rapidly transforming start-up ecosystem.

Fosun, VC fund Iron Pillar tie-up for tech investments in India

2017-01-17

Chinese conglomerate Fosun International Ltd has entered into a strategic partnership with Iron Pillar Capital Management Ltd, a venture capital fund focused on mid-stage technology investments, to target opportunities in India.

Indian start-ups’ mid-life crisis

2016-08-25

Indian start-ups suddenly find themselves in a tough spot as category-leading investors like SoftBank and Tiger seem to have hit the pause button.

10 new VC investors who are upbeat on Indian star-ups