New Delhi, Dec. 2 -- Cloud-based modular infrastructure platform Modulus Housing has raised funding in a round led by Kalaari Capital, while media agency OG Media 360 has acquired a social media-focused business news platform.

Modulus Housing

Modulus Housing has raised $7.83 million (around Rs 70.4 crore) in its maiden funding round as it eyes its next phase of growth with market expansion and R&D for new technologies and product lines.

The Series A round was led by Kalaari Capital, Hero and Samarthya, with participation from SVAS, Sigma, Zetwerk founder Srinath Ramakkrushnan, Sanjiv Rangrass, and others.

The Chennai-headquartered company said it will use the funding to accelerate market expansion across India and strategic global markets, advanced R&D, including the launch of a concrete modular system, and scaling up of its cloud-based manufacturing network and partner ecosystem.

The factory-made building construction company was founded in 2018 out of IIT Madras by Shreeram Ravichandran and P Gobinath. Its operating revenue rose 38% to Rs 54 crore in FY24 from Rs 39 crore in the previous fiscal year. Modulus offers a cloud manufacturing model - a decentralized network of partner factories across the country, and their proprietary IP-based product suite, to enable the production and delivery of modular buildings across India and Africa, serving key sectors such as healthcare, agriculture, food processing, industrial infrastructure.

With over 1,500 modular buildings across 21 Indian states and various parts of Africa, the company has delivered modular hospitals, cold storage facilities, site offices, and schools.

OG Media 360

Media agency OG Media 360 has struck a deal to acquire Times of Business, an Instagram-first business news platform. Terms of the transaction were not disclosed.

The new-age media and brand-building company, led by founder Ankit Chowdhary, said the acquisition aligns with its long-term mission of building digital-first business media network by integrating high-impact IPs under one unified ecosystem. It also strengthens OG Media 360's "DOC Media Universe", which includes IPs such as StartupByDOC, BusinessByDOC and Startup IndiaStories.

Times of Business offers business updates, market insights and startup news through Instagram.

OG Media 360 is planning an "aggressive" expansion for Times of Business, with multi-platform expansion into LinkedIn, YouTube Shorts and X, daily video explainers on business, finance, markets and startup trends, founder and industry leader interview series across the DOC ecosystem, TOB Insiders, a premium community for business audiences, partnership-driven monetization for brands, startups and fintech's and cross-distribution across all OG Media 360 IP's.

Published by HT Digital Content Services with permission from VC Circle.