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The round also saw participation from Baring Private Equity India, Saison Capital Pte. Ltd. and UNLEASH, along with other investors.
The round values the digital banking startup at $450 million, marking a steep decline from the $1.5 billion it commanded in 2022.
The Noida-based startup will use the funding to expand its AI tutoring platform and reach more schools and students.
The latest deal comes days after another large block transaction on August 28, when nearly 2.95 crore Lenskart shares worth Rs 1,857 crore changed hands at Rs 630 apiece.
As part of the deal, ITC Infotech will first buy a 22.1% stake in Happiest Minds for Rs 1,330 crore.
The Bengaluru-based fund is targeting a corpus of Rs 150 crore, with a Rs 50 crore greenshoe option.
Before joining Pluto, Abhishek Singh was associated with Upstox’s insurance business and spent more than a decade at OneInsure.
The funding round also saw participation from existing investors Together Fund and Array VC.
The funding round also saw participation from existing investors Arkam Ventures and Capital 2B.
The funding round saw participation from DoorDash, Lachy Groom, Lightspeed and Humba Ventures.
The funding round also saw participation from India’s national badminton coach Pullela Gopichand, Darwinbox co-founder Rohit Chennamaneni, Swiggy co-founder Nandan Reddy and other angel investors.
The Japanese financial services group took the decision to wound down its lending-infrastructure business in December.
Pando.ai will continue to operate as a separate brand, with its existing product and company identity.
The round also saw participation from existing investors Notable Capital, NEA, Neo Ventures and 8VC, along with new investors Acrew, Forerunner, Goodwater and Peak XV.
The investment round also saw participation from prominent angel investors including Abhishek Goyal (Tracxn) and Mekin Maheshwari (Flipkart).
For this special edition, instead of dissecting business, we’re reflecting on something more personal — the state of journalism in the age of AI.
OpenAI said that GPT-5 has made significant advances in reducing hallucinations, improving instruction following, and minimizing sycophancy.
The startup will use the fresh investment to expand its team in Bengaluru and London.
The company aims to raise around Rs 1,200 crore via the IPO, which will comprise of primary and secondary components.
