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The round also saw participation from Premji Invest and existing investors Peak XV Partners, GV and Y Combinator.
The startup will use the fresh capital to expand its global team of AI specialists and engineers, invest in proprietary technology and AI-native delivery capabilities, among others.
Total expenses of the fintech startup grew 130% to Rs 557 crore in FY26 from Rs 242 crore in FY25.
NeoGrowth’s total expenses fell 6.8% to Rs 687.69 crore in FY26 from Rs 738.19 crore in FY25.
Z47's fintech portfolio has seen mixed outcomes, with some companies struggling for traction, reflecting the ecosystem's "middle journey" as described in its report.
Chiratae Ventures' exit from PB Fintech is only one of a handful of full or partial exits from its fintech portfolio, fewer than those executed by other VC firms.
Fairfax has also proposed bringing its interests in Go Digit Life Insurance, Go Digit General Insurance and IIFL Capital Services under IDBI Bank.
The company's net profit increased 53.8% to Rs 724.70 crore in Q2 FY27.
The Bengaluru-based startup will use the fresh capital to advance Mission Synapse, a 12-month programme to demonstrate its satellite connectivity, in-orbit computing and power technologies.
The latest transaction follows an earlier sale in August, when Qualcomm sold 75 lakh Shadowfax shares for Rs 183.85 crore at an average price of Rs 245.13 per share.
The company, however, added that it remained adjusted EBITDA positive at Rs 33 crore, excluding non-cash ESOP costs.
To improve cash flows, the Council has proposed faster processing of GST refunds.
The funding round also saw participation from Stargazer.
With the latest transaction, NewQuest has offloaded 2.85 crore Shadowfax shares since July.
Total expenses of the company declined 12% to Rs 376.8 crore during the fiscal from Rs 426.7 crore in FY25, aided by a sharp reduction in impairment costs.
In his new role, Malli will be responsible for the Department of Supervision (Supervisory Assessment).
Niyo’s total operating expenses grew 20% to Rs 201 crore in FY26, compared with Rs 168 crore in the previous fiscal.
The cohort also includes founders with backgrounds at companies such as Airbnb, Microsoft Research, Google and India's recently minted unicorn Sarvam AI.
Several domestic and global institutional investors including Mirae Asset Mutual Fund and SBI Life Insurance bought the shares.
UPI's new 0.4% MDR grabbed headlines, but the real story is who profits. By our estimates, the top three UPI apps could get up to 40% of the MDR split.
