New Delhi, Nov. 26 -- Electric vehicle maker 3ev Industries, deeptech firm Enerzi, lab-grown diamond brand ONYA, aviation startup Arctus Aerospace, fintech company AxiTrust, toy-tech venture Mirana Toys, and deeptech startup LightSpeed Photonics are among the latest companies to secure investment to support their growth plans.
3ev Industries
Bengaluru-based electric vehicle maker 3ev Industries has raised Rs 120 crore ($13.4 million) in a Series A funding round led by Mahanagar Gas Ltd, marking the company's first strategic investment in electric mobility. The round also saw participation from Equentis Angel Fund, Thackersey Group, and a group of high-net-worth individuals and family offices.
The funds will be used to expand 3ev's manufacturing capabilities, launch its 3C division for charging, care, and conversions, and accelerate R&D in advanced materials, regenerative braking, and solar-enabled EV technologies.
3ev claims that it has shown strong early traction, nearly doubling vehicle sales from 438 units in FY24 to 834 in FY25, while revenues rose from Rs 17.8 crore to Rs 54.7 crore. The company is targeting Rs 65 crore in revenue by FY26 with positive EBITDA.
Enerzi
Bengaluru-based deep-tech startup Enerzi has raised Rs 16.5 crore in a seed round led by Capital-A, a manufacturing-focused VC fund. The round also saw participation from 8x Ventures and other angel investors.
The funding will be used to scale Enerzi's clean hydrogen and nanocarbon platform and strengthen its engineering and plasma science teams. Founder and CSO Prakash Mugali said the investment will accelerate its transition from pilot systems to commercial scale deployment.
Enerzi, headquartered in Belgaum, Karnataka, develops microwave plasma reactors that convert methane into clean hydrogen while producing solid carbon nanopowder as a co-product.
The company also manufactures industrial microwave-based heating systems for applications in rubber processing, polymer curing, and materials engineering, leveraging this hardware expertise to advance its clean hydrogen and nanocarbon technology.
ONYA
Bengaluru-based lab-grown diamond jewellery brand ONYA has raised Rs 5.5 crore in a pre-seed funding round led by Zeropearl VC. The round also saw participation from angel investors such as the founders of MyGate and UrbanVault.
ONYA's offerings include IGI-certified lab-grown diamonds. The company plans to use the funds to expand its offline retail footprint in major Indian cities. With the new capital, the brand also aims to expand product lines, open more customer-focused stores, and tap into India's growing market for sustainable and conscious luxury jewellery.
Founded with the aim of making premium diamond jewellery more accessible, ONYA has opened four profitable stores in Bengaluru within 11 months, reaching a monthly revenue run rate of Rs 2 crore, the firm said in a release.
The brand has also strengthened its leadership team with the appointment of Gaurav Choudhary, former director of products at xto10x, as co-founder.
Arctus Aerospace
Bengaluru-based Arctus Aerospace has raised $2.6 million (Rs 23.2 crore) in a pre-seed round to develop high-altitude, long-endurance unmanned aircraft for commercial earth observation. The aircraft, which it claims is capable of flying at 45,000 feet for 24 hours with a 250 kg payload, will provide real-time geospatial intelligence at a fraction of current satellite costs.
The platform supports SAR, hyperspectral, EO/IR, and multispectral imaging, along with data for energy, infrastructure, climate, and security applications. It aims to make strategic-grade sensing commercially accessible to deliver imagery that normally costs $10,000 for 500 sq km for around $500.
Founder Shreepoorna S Rao said the company's mission is to eliminate ground infrastructure for high-resolution earth monitoring. Arctus currently operates aircraft at 10,000-plus feet and manages full-stack R&D, manufacturing, and testing from its Bengaluru facility.
AxiTrust
AxiTrust, a Gurugram-based fintech firm building digital surety infrastructure, has raised Rs 23.5 crore in a seed round led by General Catalyst, with participation from Atrium Angels, YAN Network, and Supermorpheous.
The company plans to use the funds to enable large-scale adoption of surety bonds across banking, insurance, and procurement ecosystems, replacing traditional collateral-heavy guarantees.
With over Rs 15 lakh crore of MSME capital tied up in bank guarantees, AxiTrust's platform seeks to get liquidity, expand credit access, and strengthen trust in business transactions.
"For decades, access to growth capital has been held back by the rigidity of collateral. Surety bonds mark a paradigm shift, enabling liquidity to flow freely through the economy. This is about building a new trust architecture for India's financial system, one that expands opportunities for MSMEs to increase participation across government and private supply chains," said Aditya Tulsian, chief executive officer and co-founder, AxiTrust.
Mirana Toys
Mirana Toys, a vertically integrated toy-tech startup, has raised Rs 57.5 crore in a Series A round led by Arkam Ventures, with participation from Accel, Info Edge, and Riverwalk Holdings. The Bengaluru-based company designs and manufactures smart and educational toys, including AI-powered robots, AR-enabled RC cars, STEM kits, and other innovative products.
The funding will support the expansion of factories, installation of injection-moulding and die-casting machines, and scaling of design and sales teams to boost both domestic and international growth.
Founded in 2021 by Devansh Sharma and Ravi Yadav, Mirana Toys provides end-to-end solutions across design, electronics, tooling, moulding, assembly, and quality control. Its products are available in over 3,000 stores in India, as well as on Amazon India and the US. The company also exports to the US, Europe, and is exploring markets in the Middle East and Africa.
LightSpeed Photonics
LightSpeed Photonics, a deep-tech startup developing next-generation optical interconnects for AI and high-performance computing, has raised $6.5 million in its pre-Series A round led by pi Ventures, with participation from 500 Global, Indian Accelerator, and returning investors 8X Ventures and Java Capital.
The Hyderabad-based company focuses on solderable, energy-efficient optical interconnects that enable faster, denser, and more reliable data links for data centers.
Founded in 2021 by Rohin Y and Ramana Pamidighantam, LightSpeed Photonics' technology delivers up to four times faster speeds, half the power consumption, and a 20x smaller footprint compared with conventional solutions. Its optical interconnects are designed for AI-driven systems, HPC, near-edge computing, 5G, aerospace, satellite, and Industry 4.0 applications.
The funding will accelerate commercialization of the company's 200/400 GBPS solderable optical interconnect, expand R&D, and strengthen partnerships with OEMs, ODMs, and EMS providers.
Published by HT Digital Content Services with permission from VC Circle.