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The funding round was co-led by Prime Venture Partners and Leo Capital, with participation from Good Startup, Sparrow Capital, Sun Icon Ventures, Dhoka Ventures and WTF (India) Delhi Angels.
The changing sentiment is now visible across the ecosystem. According to reports, Citigroup bankers are projecting a rebound in IPO activity despite the current slowdown.
The fresh capital will be used to expand production capacity, strengthen advanced manufacturing infrastructure, and set up a new state-of-the-art facility.
The funds will be partly used to set up a greenfield manufacturing facility in Maharashtra, marking a key step in JSW Motors’ entry into the new energy passenger vehicle market.
Fresh Funds will enhance product platform, expand US operations, and grow partnerships as industries adopt automation to boost efficiency and tackle labour shortages.
The portfolio includes startups such as Zulu Defence, Nitro Commerce, IG Defence, Indrajaal, Satlabs, Dozee, Pernia’s Pop Up, Recur Club, Lawyered, Ammunic, and Constems AI, among others.
With ACE Fund III, Oister plans to expand late-stage secondary investments in high-growth sectors, targeting firms with strong unit economics and exits
The new round saw participation from a mix of business leaders and investors, including Harsh Jain of Dream11, Rajat Gupta, Zubin Bharti Mittal, and Ishan Sinha of Point72, along with Blume Founder’s Fund and others.
The Series C funding round was led by Sofina, with participation from Peak XV Partners and existing investors including Accel, Balderton, ICONIQ, Tencent and Speedinvest.