RCB Acquired For $1.78 Bn In Landmark IPL Deal

A consortium comprising Aditya Birla Group, Times of India Group, Bolt Ventures, and Blackstone has agreed to acquire the Indian Premier League Franchise Royal Challengers Bengaluru for $1.78 billion (Around INR 16,500 crores) following a competitive bidding process. The sale by United Spirits, the Indian arm of Diageo, follows a strategic review that classified the franchise as non-core to its primary business. The acquisition includes both the men’s IPL team and the Women’s Premier League franchise, subject to regulatory approvals from the Board of Control for Cricket in India and the Competition Commission of India. Interest in the franchise had been strong, attracting global investors such as KKR and prominent Indian business leaders. Royal Challengers Bengaluru, one of the IPL’s original teams, secured its first men’s title in 2025 after 17 years, led by Virat Kohli, and reported revenues of $56 million (Around INR 526 crores) in 2024–25, reflecting a 73% increase over three years.

(Source: VC Circle, 25th March 2026)

• Private Equity

 

SFO Technologies Secures $82 Mn From PE Investors

Kochi-based EMS provider SFO Technologies Pvt Ltd has raised $79.8 (Around INR 750 crores) in a funding round led by Trident Growth Partners and Amicus Capital Partners, with participation from existing investors Anicut Capital and HDFC Asset Management Company. The company plans to utilize the proceeds to expand manufacturing capacity and enhance backward integration through component manufacturing. This investment is expected to strengthen SFO’s technological capabilities and support its ambition to emerge as a leading global EMS player. The transaction also highlights growing investor confidence in India’s EMS sector, supported by strong structural tailwinds. 

(Source: VC Circle, 2nd March 2026)

 

Eversource Backed Ecofy Finance Snags $41 Mn From BIl, Others

Eversource-backed Ecofy Finance Pvt Ltd has raised $41 million (Around INR 380.5 crores) in fresh equity funding from British International Investment and FMO, along with participation from existing investors including Eversource Capital. The company plans to deploy the capital to expand rooftop solar financing, electric vehicle adoption, and green lending for MSMEs. Founded in 2022, Ecofy focuses on financing sustainable assets and has built a retail-focused green lending platform serving over 120,000 customers. The fundraise will also support balance sheet expansion and deepen partnerships with financial institutions, reinforcing its position in India’s growing climate finance ecosystem. 

(Source: VC Circle, 16th March 2026)

 

LeapFrog Leads $95 Mn Funding In ReNew Energy Unit  

ReNew Energy Global Plc has raised $95 million (Around INR 878 crores) in fresh capital led by LeapFrog Investments, with participation from Emerging Market Climate Action Fund and Carlyle AlpInvest, to support the growth of its commercial and industrial (C&I) platform, ReNew Green Energy Solutions Pvt Ltd. The capital will be deployed to expand its footprint across key industrial sectors, leveraging its existing portfolio of over 2.5 GW of committed capacity, of which more than 2.0 GW is already operational with long-term agreements from global corporates. The fundraise underscores strong investor interest in India’s C&I renewable energy segment, driven by rising decarbonization needs and increasing demand for cost-efficient clean energy solutions. 

(Source: VC Circle, 17th March 2026)

 

KKR To Invest $310 Mn In PMI Electro’s E-Bus Platform Allfleet India 

Global private equity firm KKR has announced a $310 million (Around INR 2,865 crores) investment in Allfleet India Pvt Ltd, the e-bus platform of PMI Electro Mobility Solutions, acquiring a majority stake in Allfleet and a minority stake in PMI Electro. The investment will be utilized to scale electric bus deployments across key Indian cities in collaboration with public transport authorities, following strong order wins under government-led electrification initiatives. With over 3,000 electric buses already deployed across 30+ cities and plans to expand to a fleet of over 5,000 buses, the transaction underscores PMI Electro’s growing presence in the clean mobility space and marks KKR’s first investment under its Global Climate Transition strategy, highlighting increasing investor focus on sustainable infrastructure in India. 

(Source: VC Circle, 18th March 2026)

Private Equity Firm TVS Capital Invests $53 Mn In Neo Group

Mumbai-based Neo Wealth and Asset Management has raised $53.2 million (Around INR 500 crores) from TVS Capital at a pre-money valuation of $1.07 Billion (Around INR 10,000 crores), marking the PE firm’s first investment in the wealth management space. The capital infusion will be utilized to accelerate the company’s growth, strengthen its platform, and expand its offerings across investment advisory and asset management services. The round also reinforces continued backing from existing investors including Peak XV Partners, MUFG Bank, and Euclidean Capital. The transaction underscores increasing investor interest in India’s growing wealth management sector, driven by rising affluence and demand for sophisticated financial solutions.

(Source: VC Circle, 20th March 2026)

• Venture Capital

 

Pronto Raises Series B, Valuation Surges To $100 Mn

Bengaluru based home services platform Pronto has raised $25 million (Around INR 235 crores) in its Series B funding round led by Epiq Capital, valuing the company at $100 million (Around INR 940 crores), more than double its previous valuation of $45 million (Around INR 423 crores) achieved less than seven months ago. The round also saw participation from existing investors including General Catalyst, Glade Brook Capital, and Bain Capital Ventures. The proceeds will be utilized to strengthen workforce capabilities, expand service offerings, and deepen market penetration over the next 12–18 months. Founded in 2024, Pronto operates a hyperlocal, on-demand home services model and has demonstrated rapid scale-up, positioning itself competitively alongside players such as Urban Company. 

(Source: VC Circle, 3rd March 2026)

 

Dabur’s Investment Arm Leads Series B Funding In RAS Luxury Skincare

Jaipur based D2C brand RAS Luxury Skincare has raised $7.5 million (Around INR 69 crores) in its Series B funding round led by Dabur Ventures, with participation from existing investor Unilever Ventures. The company plans to utilize the proceeds to accelerate its Omni channel expansion across domestic and international markets, while also strengthening its R&D capabilities in botanical science. Founded in 2017, RAS Luxury has built a vertically integrated, farm-to-face model and continues to scale rapidly within India’s premium skincare segment. The investment marks Dabur Ventures’ first deployment since its launch and reflects growing investor interest in the luxury beauty and personal care space. 

(Source: VC Circle, 3rd March 2026)

Drone Delivery Startup Skye Air Mobility Bags First Tranche Of Series B

Gurugram-based drone delivery startup Skye Air Mobility has secured $4 million (Around INR 37 crores) as the first tranche of its $9 million (Around INR 84 crores) Series B round led by IAN Alpha Fund, with participation from investors including AVNM Ventures, Faad Capital, and Bajaj Capital. The company plans to utilize the funds to strengthen its AI capabilities, integrate its drone and traffic management systems, and scale its delivery infrastructure. The capital will also support expansion into key metropolitan markets over the next 18 months. Founded in 2019, Skye Air is transitioning from proof-of-concept to large-scale deployment, serving sectors such as e-commerce, healthcare, and quick commerce.

(Source: VC Circle, 11th March 2026)

 

Visa Processing Platform Atlys Collects $36 Mn In Series C

Gurugram-based visa processing platform Atlys has raised $36 million (Around INR 338 crores) in its Series C funding round led by Susquehanna Asia Venture Capital, with participation from existing investors Elevation Capital, Peak XV Partners, and Long Journey Ventures, along with MakeMyTrip. The company plans to utilize the proceeds to expand into international markets, strengthen regulatory integrations, and accelerate its AI-driven product capabilities across the visa lifecycle. Founded in 2021, Atlys has demonstrated strong growth, processing a significant volume of visas while expanding its global footprint, positioning itself as a key player in the digital travel infrastructure space. 

(Source: VC Circle, 17th March 2026)

 

QSR Chain Burger Singh Raises Series B Funding From Artal Asia

Homegrown QSR chain Burger Singh has raised $8.9 million (Around INR 82 crores) in its Series B funding round led by Artal Asia, valuing the company at around $55.3 million (Around INR 520 crores). The round also saw participation from existing investor Negen Capital and new investor Nine Rivers Capital’s Aurum Rising India Fund. The company plans to utilize the proceeds to strengthen its franchise led model by enhancing systems, supply chain integration, and operational infrastructure. 

(Source: VC Circle, 18th March 2026)

• Mergers & Acquisitions

 

US Cosmetics Major Estee Lauder To Fully Acquire India’s Forest Essentials 

The Estée Lauder Companies Inc. will acquire the remaining 51% stake in Forest Essentials, gaining full ownership of the Delhi based firm, with the transaction expected to close in the second half of 2026; financial terms were not disclosed. Having initially acquired a 20% stake in 2008 and increased it to 49% in 2020–21, Estée Lauder aims to strengthen its presence in India’s fast-growing prestige beauty market through this deal. Founded by Mira Kulkarni, Forest Essentials will continue to operate from New Delhi, retaining its research and development, local sourcing, and in-house manufacturing capabilities while leveraging Estée Lauder’s global brand strength, distribution network, and operational expertise for long-term growth. The brand, which operates over 200 standalone stores, will join Estée Lauder’s portfolio of global labels including Clinique and Bobbi Brown Cosmetics, and reported net sales of $61 million (Around INR 578.3 crores) in FY25 

(Source: VC Circle, 13th March 2026)

 

Cars24 Acquires Vehicle Info to Expand Automotive Services Ecosystem

Cars24 has acquired Vehicle Info from Vasundhara Infotech LLP as part of its strategy to expand beyond vehicle transactions into a comprehensive ownership ecosystem. Founded in 2017 by Chirag Pipaliya, Vehicle Info offers a unified digital platform enabling users to access services such as registration details, traffic challans, insurance verification, and service history. The acquisition aligns with Cars24’s vision to support vehicle owners throughout the lifecycle of ownership by integrating fragmented services into a single interface. This move follows its earlier acquisitions of CarInfo and Team-BHP, reinforcing its expansion across the automotive ecosystem. Cars24, which was valued at $3.3 billion (Around INR 28,000 crores) in 2021, is backed by investors including SoftBank, DST Global, Alpha Wave Global, and Tencent. 

(Source: VC Circle, 13th March 2026)

 

Strides Pharma to Acquire Sandoz Africa Portfolio for $12M

Strides Pharma Science Ltd has agreed to acquire the branded generics portfolio of Sandoz AG across sub-Saharan Africa for $12 million (Around INR 111 crores) through its step-down unit, Strides Pharma International AG. The transaction, which includes in-licensing of the product portfolio, is expected to close in the second quarter of the next fiscal. The acquisition will strengthen Strides’ presence in key African markets; Western Sahara (covering 10 countries), Ghana, Nigeria, and Kenya and expand its reach across therapeutic segments such as anti-infective, cardiovascular, and dermatology. The deal includes both fully acquired products and select brands that Strides will continue to market on behalf of Sandoz, alongside a manufacturing and supply agreement to ensure ongoing production and distribution.

(Source: VC Circle, 18th March 2026)

 

Nazara Technologies Acquires Spanish Gaming Firms in $100.3 Mn Deal 

Nazara Technologies has agreed to acquire a controlling stake in Spanish startups Bluetile Games and BestPlay System for $100.3 million (Around INR 918 crores) through all-cash transactions aimed at strengthening its AI-driven game development and publishing capabilities. The company will purchase a 50% stake in Bluetile for $88.4 million (Around INR 830 crores) and in BestPlay for $11.9 million (Around INR 112 crores), with $59.7 million (Around INR 561 crores) payable at the first close and the remainder within six months. CEO Nitish Mittersain stated that the deals will enhance the company’s strengths across development, engagement, and distribution, while advancing its strategy to build AI-enabled, globally scalable gaming businesses. 

(Source: VC Circle, 19th March 2026)

 

EPL–Indovida Merger to Create $2 Billion Emerging Markets Packaging Leader

Mumbai-listed EPL Ltd, one of the world’s largest manufacturers of laminated tubes, has agreed to merge with Indovida, a plastics packaging company backed by Indorama Ventures, to form an emerging markets-focused packaging firm. The combined entity is expected to generate over $1 billion (Around INR 9,436 crores) in revenue and command a valuation of around $2 billion (Around INR 18,872 crores) The transaction values EPL at about $1.2 billion (Around INR 11,000 crores) and Indovida at approximately $700 million (Around INR 6,580 crores). EPL will remain the listed entity. Post-merger, Indorama Ventures will become co-promoter with a 51.8% stake, while Blackstone will hold 16.6%, down from its 26.38% stake in EPL as of December 2025, following its earlier sale of a 24.9% stake to Indorama for roughly $220 million; notably, Blackstone had acquired a controlling stake in EPL in 2019. The merged company is expected to derive around 75% of its revenue from emerging markets.

(Source: VC Circle, 30th March 2026)