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The funding round also saw participation from new investors Anant Jain and Sachin Kasera.
The fresh capital will be used for product development, customer deployments, and expanding its engineering teams across the US, India, and Israel.
The AJVC investment is part of Novastar's broader private-markets strategy that combines fund investments with selective direct bets on private companies.
The funding round also saw participation from Claypond Capital, Martin Chavez, Olivier Pomel, Venky Harinarayan and Shah Rukh Khan.
The overall value of merchant category-wise purchases via UPI fell to Rs 8.95 lakh crore in August from Rs 9.07 lakh crore in July, even as transaction volumes rose.
The funding round also saw participation from angel investors Afsar Ahmad, Jani Pasha, and Arpit Dave.
The funding round also saw participation from 360 ONE Asset, IMM Investment, as well as existing investors Radical Ventures, growX Ventures, and others.
The Noida-based startup will use the funding to expand its AI tutoring platform and reach more schools and students.
The merged entity will operate under the InsuranceDekho brand and will be led by founder and CEO Ankit Agrawal.
The Bengaluru-based fund is targeting a corpus of Rs 150 crore, with a Rs 50 crore greenshoe option.
The shares were picked up by a clutch of institutional investors, including Integrated Core Strategies (Asia), Singularity Large Value Fund III and F3 Advisors.
The funding round also saw participation from existing investors Arkam Ventures and Capital 2B.
The company also plans to continue hiring senior bankers and investment specialists as it scales the new platform.
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.
The latest funding round valued the Delhi-based startup at Rs 45 crore.
The fintech company has also elevated Dhruv Wadhera as Senior Vice President (SVP), Offline Payments.
According to the data revealed by the Ministry of Finance in a reply to Parliament, UPI fraud incidents surged by 85% in FY24.
