Elevation Capital

Karnataka Raised USD 3.8 Billion in 2025 Amid Sharp Decline in Late-Stage Funding

The IPO will open for public subscription on February 9 and close on February 11.

The decision to close the company was taken in October last year.

The Bengaluru-based company said the fresh capital will support its plans to expand local collection capabilities in more than 20 countries, strengthen card and compliance infrastructure and secure additional international licences.

Retail, real estate and construction tech, and fintech led sectoral growth, backed by active investors such as Venture Catalysts, Antler, Elevation Capital, Lightspeed, Bessemer, and Sofina.

Elevation Capital and Peak XV will lead the secondary sale, offering 5.54 crore and 3 crore shares respectively, while investors like Prosus and SoftBank, which hold 12.34% and 9.31% stakes, will retain their shares.

The Pre-Series B round was led by WestBridge Capital with Elevation, Goodwater, and angels Shyamal Anadkat and Ronnie Screwvala participating.

The round also saw participation from Elevation Capital and Z47, formerly known as Matrix Partners India.

The Series A round was led by Elevation Capital, with participation from existing investor Z47 and several angel investors.

Here are the top funding deals between September 6 and September 11.

The below brands have announced their latest funding rounds.

CityMall, Seekho, Blue Tokai, and FirstClub also raised capital this week.

The round also saw participation from Goodwater Capital, Lightspeed Venture Partners and Elevation Capital.

In 2022, CityMall had secured USD 75 million in a round led by Norwest Venture Partners.

This week's top deals reveal where investors are placing bold bets in the startup ecosystem.

The funding round was led by Elevation Capital, with additional participation from existing investor General Catalyst.

Existing backers Elevation Capital and Together Fund also participated in the round, along with several notable angel investors. These include Gokul Rajaram, Rubrik cofounder Soham Mazumdar, Dharmesh Shah of HubSpot, and Guillermo Rauch of Vercel.

Diverse Sectors See Fresh Capital Inflows

The below brands have announced their latest funding rounds.

The newly raised capital will be deployed to strengthen and scale temple partnerships in over 20 temple towns across India, including Varanasi, Ayodhya, Ujjain, and Haridwar.

The funding will accelerate product enhancements, including advanced automation as SEBI opens algorithmic trading for retail users, market expansion, and team growth to support Sahi's growing trader base.