Corporate Finance Monthly Alert January 2026
Apax Partners Picks Up Minority Stake In Ready-To-Cook Brand ID Fresh
Apax Partners has acquired a significant minority stake around 35% in ready-to-cook brand iD Fresh Food for roughly $166 million (around INR 1,500 crores), marking its first India deal in over a year. The stake was bought from existing investors Premji Invest and TPG NewQuest, who will continue as shareholders, valuing the Bengaluru-based company at about ₹4,000–4,250 crore. The investment will fund capacity expansion, product diversification, geographic growth, and supply chain optimisation through technology. Founded in 2005, iD Fresh has expanded beyond idli and dosa batter into flatbreads, chutneys, sambar, and dairy products, building a strong D2C food brand. The company operates in over 50 cities across India and the Gulf, supported by a workforce of around 2,400 employees. Its valuation reflects a sharp jump of more than 2.5x since its last funding round, highlighting investor confidence in the brand’s growth trajectory. The transaction is subject to regulatory approvals. The deal underscores continued private equity interest in India’s branded food segment driven by convenience-led consumption trends. It also strengthens iD Fresh’s ability to scale operations while maintaining its focus on fresh, preservative-free offerings.
(Source: VC Circle, 05th January 2026)
- Private Equity
Arya.ag Raises $80 Mn in Series D Round Led by GEF Capital Partners
Agritech platform Arya.ag, operated by Arya Collateral Warehousing Services Pvt Ltd, has secured about $80.6 million (Around INR 725 crores) in a Series D funding round led by private equity firm GEF Capital Partners. The capital will be used to promote climate smart and market led agricultural practices, expand farmers’ access to technology-driven solutions, and reduce post-harvest losses across the value chain. The round was largely primary in nature, with a small secondary component that allowed some early investors to partially exit
(Source: VC Circle, 02nd January 2026)
NDR Warehousing to Raise Up to $50 Million for Green Warehouse Expansion
NDR Warehousing Pvt Ltd, sponsor of the privately listed NDR InvIT, plans to raise up to $50 million (around INR 451 crores) from an offshore investor, including up to $25 million through compulsorily convertible debentures and another $25 million in debt from the International Finance Corporation. The funds will be used to acquire and develop green warehouses across major consumption centres such as Mumbai, Bengaluru, Chennai and Hyderabad, supporting warehouse construction, acquisition of under-development assets, land purchases, and general corporate purposes, while adding to the company’s expansion corpus following its Rs 2,000 crore bond raise last year.
(Source: VC Circle, 06th January 2026)
Warburg Pincus to Acquire APG Stake in Lemon Tree Unit
US-based private equity firm Warburg Pincus will acquire Dutch pension fund APG’s stake in a unit of Lemon Tree Hotels Ltd and invest an additional $106.2 million (around INR 960 crores) as part of a multi-stage transaction marking its return to the Indian hospitality group. As part of the reorganisation, Lemon Tree will transfer its hotel assets to Fleur Hotels Ltd, while Warburg will acquire APG’s 41.03% stake and make a primary investment to support growth, creating two platforms; an asset-light hotel management and brand business under Lemon Tree and a hotel ownership platform under Fleur, which is expected to be listed within 12–15 months, subject to regulatory and shareholder approvals.
(Source: VC Circle, 10th January 2026)
ASK Property Fund Invests $38 Mn In Mantra Group’s Housing Projects
ASK Property Fund, the real estate private equity arm of Blackstone-backed ASK Asset & Wealth Management Group, has invested $38 million (around INR 340 crores) across three residential projects of Mantra Group in Mumbai and Pune. The funding will support acquisition of two projects via the NCLT route, settle dues to financial creditors, and meet working capital needs, while also backing an ongoing development. ASK cited attractive entry valuations and alignment with its growth capital strategy, while Mantra noted the move will revive stalled projects affecting hundreds of homebuyers.
(Source: VC Circle, 12th January 2026)
Wonder Home Finance Raises $55 Mn From Growtheum Capital
Wonder Home Finance, part of the RK Group, has raised $55 million (around INR 500 crores) from Singapore based private equity firm Growtheum Capital in its first external funding round. The company will use the capital to expand its presence across India and strengthen its capital base to support future growth. Unitus Capital served as the exclusive financial advisor for the transaction.
(Source: VC Circle, 20th January 2026)
- Venture Capital
Kotak Alts-Backed FutureCure Health Bags $11 Mn In Series B
FutureCure Health Pvt. Ltd., the health-tech company behind the NeuroEquilibrium network of vertigo and dizziness clinics, has raised $11.5 million (around INR 104 crores) in a Series B round led by Carnelian Asset Management. The startup delivers non-invasive, technology-driven vestibular diagnosis and treatment by integrating advanced diagnostic systems with cloud-based platforms, and currently operates 300+ clinics across India and 16 countries in partnership with hospitals, ENT, and neurology centers. The fresh capital will fund its global expansion and support its move into chronic lifestyle disease segments such as migraine and diabetes, as the company continues to address the shortage of specialist doctors through scalable, India-built healthcare technologies.
(Source: VC Circle, 06th January 2026)
Wealth Management Platform AssetPlus Raises $19 Mn In Fresh Funding
Chennai-based wealthtech platform AssetPlus has raised $19.3 million (around INR 175 crores) in a Series B1 round led by Nexus Venture Partners, with participation from Eight Roads Ventures and Rainmatter, at a post-money valuation of $93.9 million (around INR 850 crores). Founded in 2016, the company provides a digital-assisted platform that enables mutual fund distributors to deliver holistic wealth management while streamlining operations and compliance. The fresh capital will be used to expand product offerings and strengthen its full-stack wealth management infrastructure.
(Source: VC Circle, 19th January 2026)
ScrapUncle Raises $2.4 Million in Pre-Series A Funding
ScrapUncle, an on-demand recycling platform, has raised $2.4 million (around INR 22 crores) in a pre-Series A funding round co-led by Orios Venture Partners and Acumen Fund, with participation from Upaya Social Ventures, Venture Catalysts, We Founder Circle, Soonicorn Ventures, and angel investor Bharat Jaisinghani. Founded by Mukul Chhabra, the company will use the capital to strengthen its presence in the Delhi-NCR region, scale operations toward INR 100 crores in annual recurring revenue, and support expansion into other metro cities, while investing in fulfillment infrastructure, technology, and workforce to build its doorstep recycling platform.
(Source: VC Circle, 28th January 2026)
Easy Home Finance Raises $30 Million in Series C Led by Investcorp
Easy Home Finance Ltd, backed by mid-market private equity firm Xponentia Capital, has raised $30 million (around INR 276 crores) in a Series C funding round led by Bahrain-based alternative investment firm Investcorp, with participation from existing investors Claypond Capital and SMBC Asia Rising Fund. The investment was made through the Investcorp Growth Equity Fund and Investcorp Growth Opportunity Fund, taking the company’s total equity capital raised to over $80 million. The fresh capital will be used to accelerate Pan-India expansion, strengthen distribution, and deepen technology capabilities across the home-loan lifecycle, following a $35 million Series B round raised in 2024, Easy Home Finance said in a press note.
(Source: VC Circle, 29th January 2026)
OneARVO Raises $130,000 in Pre-Seed Funding Led by Inflection Point Ventures
OneARVO, a New Delhi-based deep tech startup, has raised $130,000 (around INR 1.23 crores) in a pre-seed funding round led by Inflection Point Ventures. Founded in 2023 by Sumit Goswami and Duke Banerjee, the company leverages AI and blockchain to help brands secure product authenticity and combat counterfeiting across the supply chain. The funds will be used to strengthen its technology team, build an AI lab for datasets, and support go-to-market execution.
(Source: VC Circle, 29th January 2026)
- Mergers & Acquisitions
Kayess Square Raise Funds
Kayess Square Consulting, a Bengaluru-based finance, risk, governance, and transaction advisory firm, has raised $1.11 million (around INR 10 crores) in a strategic funding round led by its clients and leadership team. Vakil Housing anchored the round, with participation from industry leaders including Mindtree co-founder Parthasarathy NS and other prominent investors. The capital will be used to deepen core advisory practices and enhance service quality. Founded in 2017, the firm supports startups and growth-stage companies with M&A advisory, due diligence, fractional CFO services, tax structuring, valuation, compliance, and risk advisory solutions.
(Source: VC Circle, 06th January, 2026)
Germany’s Remmers To Acquire Majority Stake In Pune Based Teknovace
Germany’s Remmers Gruppe SE will acquire a 50.01% stake in Pune-based Teknovace for $33.3 million (around INR 300 crores) in a two-tranche deal aimed at strengthening its India presence and export capabilities. The investment will help Teknovace scale wood coatings capacity tenfold—from 6,000 to 60,000 tonnes per annum—along with setting up an integrated UV coatings facility, an in-house resin unit, a greenfield construction chemicals plant, and a global R&D centre in India. Founded in 2019, Teknovace reported ₹57 crore revenue in FY25 and plans to position India as an export hub serving APAC, the Middle East, and Africa, while also integrating into Remmers’ global sourcing network.
(Source: VC Circle, 08th January, 2026)
NIIT MTS Acquires US Firm
NIIT Learning Systems Ltd, operating under the NIIT MTS brand, has acquired San Francisco–based learning design firm SweetRush Inc for up to $26 million (₹234.4 crore) in cash, with additional earn-outs linked to performance over five years. The deal was executed via NIIT’s US subsidiary and brings SweetRush’s expertise in AI-enabled learning, certification content, and strategic training solutions into NIIT’s portfolio. Founded in 2001, SweetRush serves enterprises, associations, and nonprofits, with teams across the US and Costa Rica. The acquisition strengthens NIIT MTS’ capabilities in strategic learning and talent solutions while enabling a shift from project-based work to long-term managed learning engagements globally.
(Source: VC Circle, 12th January 2026)
Indian Hotels To Take Control Of Brij Hotels In Third Deal Within Six Months
Indian Hotels Co Ltd (IHCL), the Tata Group’s hospitality arm, will acquire a controlling 51% stake in Brij Hospitality Pvt Ltd for up to $24.8 million (around INR 225 crores) through a mix of primary investment and secondary share purchase. IHCL will also earn marketing and distribution fees and gain ownership of the “Brij” brand to strengthen its presence in the boutique leisure segment alongside the founder. This marks IHCL’s third acquisition in six months, reinforcing its inorganic expansion strategy, with Nomura highlighting the company’s strong cash surplus potential to support further deals.
(Source: VC Circle, 16th January 2026)
Waaree Energies Arm To Acquire Majority Stake In Transmission Firm For $133 Mn
Waaree Renewable Technologies Ltd, the EPC arm of Waaree Energies, will acquire a 55% stake in Gujarat-based Associated Power Structures Ltd for $133.4 million (around INR 1,225 crores), marking its entry into the grid infrastructure segment. The deal involves both a primary capital infusion and purchase of secondary shares, with proceeds to be used for doubling Associated Power’s manufacturing capacity. The acquisition strengthens Waaree’s end-to-end energy transition capabilities across generation, transmission, and distribution, with Singhi Advisors acting as the exclusive advisor on the transaction.
(Source: VC Circle, 27th January 2026)