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.
The Bengaluru-based firm aims to deploy the fresh funds in expanding its presence in the FMCG and HoReCa (hotels, restaurants, and catering) sectors, boosting its private-label staples offerings, and strengthening its balance sheet to support its ongoing transformation.
Representatives from Chiratae Ventures, Lightspeed Venture Partners, and Premji Invest have stepped down from GlobalBees' board, according to the YourStory media sources.
The capital will be used to accelerate Tessell's global go-to-market strategy and enhance R&D efforts focused on building AI-powered capabilities that simplify, optimise, and scale enterprise data management across cloud ecosystems.
With the raised funds, Mstack aims to boost R&D, expand global operations, scale leadership across sectors, and grow its talent base in the US, Middle East, South America, and Asia.
With this fresh round of funding, Physics Wallah plans to aggressively scale its operations. It also aims for inorganic expansion, entry into the K-12 segment, enhanced content offerings, and potential mergers with community-driven education platforms.
The funds will scale the company's model and training datasets for future commercial deployment of its technology, and expand hiring across AI, robotics, engineering, operations, and security.
Vaibhav Agrawal is going to start his own venture firm. To oversee early-stage investments, Abhishek Nag has joined Mumbai-based 360 One (previously IIFL Wealth & Asset Management).
The company claims that it currently manages $18 billion across the Lightspeed platform, with investment professionals and advisors in the US, China, Europe, India, Israel and Southeast Asia
Lightspeed will start operations in Singapore and deploy capital from its global fund of USD 4 billion, which was closed in April this year, to invest in the Southeast Asian market, with key focus on Indonesia and Singapore