Series C funding

With the fresh funds, the Mumbai-based company aims to expand in India, US, and UAE, strengthen supply chains, upgrade AI-powered technology, and pursue strategic acquisitions.

The Series C round's first close was led by Accel, followed by a second close led by Peak XV Partners, with significant participation from WestBridge Capital and Info Edge Ventures.

The funding includes a mix of primary and secondary investments, pushing the brand's valuation to USD 200 million.

The company also introduced a major upgrade to its Cyber Risk Singularity platform — the world's first fully autonomous Continuous Threat Exposure Management (CTEM) solution powered by Agentic AI.

The funds will be used to expand Varda's pharmaceutical manufacturing capabilities in microgravity and increase the cadence of orbital missions.

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 fresh capital will be deployed to strengthen Mahaveer's presence in South India, bolster its proprietary tech infrastructure, and serve a broader base of underserved customers who often rely on informal moneylenders.

The company recently acquired Selfwealth, a well-established Australian online investment platform, to further solidify its presence in the region.

The capital infusion will be used to expand operations across India's top five cities, scale the fleet to 10,000 vehicles by March 2026, and convert 30% of its fleet to electric vehicles (EVs).

The company plans to channel the funds toward scaling its operations, launching adjacent service lines, and expanding into new global markets. A significant portion will also be invested in R&D for AI-powered solutions focused on financial reporting and risk management.

The new capital will be directed toward expanding SuperOps' AI research and development initiatives, scaling its offerings for mid-market and enterprise MSPs, and extending its global reach.

This round adds to the USD 15 million raised in May 2024, led by Japanese giant ENEOS and supported by existing backers like 9Unicorns, IAN Fund, and Venture Catalysts.

Last year, the Mumbai-based brand raised USD 18 million (around INR 150 crore) in its Series B funding round, led by Panthera Growth Partners from Singapore.

Accel remains the largest external stakeholder with an 18.1% stake, followed by Creaegis and Elevation.

With the new funds, the brand aims to scale operations, expand sustainable dairy products in India, and strengthen its export segment.

The capital injection will enable Everest Fleet to scale its operations and expand its fleet of clean-energy vehicles, focusing on compressed natural gas (CNG) and electric vehicles (EVs).