Funding
Climate-tech startup Fitsol raises $1M in seed funding from Transition VC
Fitsol, a decarbonisation platform designed for the manufacturing industry, has raised $1 million in seed funding round from Transition VC.
Fitsol will use the raised capital to accelerate growth by enhancing its flagship platform Kyoto’s AI for advanced analytics and lifecycle assessments, hiring talent in tech, business development, and customer success, and building a B2B sustainability solutions marketplace.
Geographical expansion is also a priority, with India remaining the core market while international operations are set to kick off in the Middle East.
Founded in 2022 by Anand Pathak, Akshay Tandon, Manoj Sharma, Sunil Bansal, and Vikas Kalra, Fitsol enables manufacturers to measure, report, benchmark, and actively reduce their carbon emissions through its AI-driven platform, Kyoto, and a comprehensive sustainability marketplace.
The company aims to manage 500 million tonnes of carbon emissions in supply chains within the next two years.
Fitsol co-founders.
MBG Card secures Rs 2.72 Cr led by IPV
MBG Card, a SaaS company providing digital transformation solutions for businesses, has secured Rs 2.72 crore in by Inflection Point Ventures. The round saw participation from revenue-based financing platforms Velocity and Klub.
This funding will be used to enhance marketing efforts, product development, and team building.
Founded in 2021 by Abhinavv Dubeyy, MBG Card specialises in digital transformation solutions for SMEs. The platform provides affordable tools to help businesses enhance customer engagement, boost revenue, and automate operations.
Based in Jabalpur, Madhya Pradesh, MBG Card serves over 10,000 clients across India and internationally.
Other news
Velocity announces Rs 200 Cr fund for restaurants, cloud kitchens
Velocity, a cash-flow based financing platform, has earmarked 200 crore in 2025 to support and accelerate growth in the restaurant and cloud kitchen ecosystem across India.
The fund is specifically designed to address the unique challenges faced by F&B brands and help them grow. F&B brands often struggle to secure financing from traditional sources like banks and NBFCs.
Recognising this gap, Velocity offers cash-flow based financing, enabling restaurants and cloud kitchens to effectively manage capital expenditure, working capital, open new outlets, purchase equipment, and launch sub-brands under existing ones without impacting operational profits.
Since 2020, Velocity has funded several notable F&B brands such as IDC Kitchen, Smoor, Daily Sushi, Brahma Brew Works, Milano Ice cream, Imperio, Amore Gelato, Jamie’s Pizza, and Baba’s Chicken.
Cornerstone Ventures exits AI platform Intelligence Node
Cornerstone Ventures, a SaaS-focused venture capital firm, has exited Intelligence Node, a retail analytics and AI platform, following the company’s acquisition by global advertising giant Interpublic Group (IPG).
The acquisition was for approximately $100 million, including integration costs.
By joining forces with IPG, Intelligence Node will be able to further expand its reach and deliver greater value to its clients through access to IPG’s resources and global network.
The full exit from Intelligence Node marks the second exit for Fund I. Cornerstone Ventures first invested in Intelligence Node in 2019.
Cornerstone Ventures’ portfolio includes notable players in the Service SaaS space, such as ManageArtWorks, THB, EnParadigm, WatchYourHealth and Credit Nirvana, as well as SaaS + Marketplace models like Blubirch, Credilio, and Mystifly.
Jobs platform foundit appoints V Suresh as CEO
foundit (formerly Monster APAC & ME), a jobs and talent platform, and a Quess company, has appointed V Suresh as its chief executive officer.
With over two decades of experience in the internet domain, digital transformation, and the e-recruitment ecosystem, Suresh brings a wealth of strategic expertise and a forward-looking vision to foundit.
Throughout his career, he has driven transformational growth, expanded market presence, and established successful digital platforms across sectors.
“Suresh’s deep understanding of the digital talent ecosystem and proven ability to scale businesses will help us strengthen our leadership position in the market. Under his stewardship, we aim to further refine our platform, enhance our services, and continue bridging the talent gap across industries and geographies,” said Ajit Isaac, Managing Director of Quess Corp, the parent company of foundit.
Skydo receives Amazon Payment Service Provider approval
Skydo, a cross border payments platform, has received a Payment Service Provider (PSP) approval from Amazon.
This makes Skydo one of the first homegrown platforms to offer seamless international payments for lakhs of Indian exporters selling on Amazon global marketplaces.
With this, exporters on Amazon can receive their international payouts through Skydo in a secure and cost-effective manner. Skydo is partnered with HDFC Bank and compliant with RBI regulations.
As part of their launch offer, Skydo is offering zero forex markup and a $1 flat transaction fee to Amazon Global sellers in their first three months of using the platform.
Some features of Skydo include transparent pricing with zero markup over live mid-market forex rates, instant digital onboarding and KYC, dedicated customer support, fast settlements, and simplified regulatory compliance with instant Foreign Inward Remittance Advice.
Skydo co-founders.
Lectrix EV appoints Anil Dua as Co-founder
Lectrix EV, the e-mobility arm of SAR Group, has appointed Anil Dua as Co-founder, effective immediately.
A seasoned leader with a proven track record across diverse industries, Dua brings over three decades of expertise in strategic leadership, digital transformation, and brand building.
Most recently, Dua served as the Group CEO of Dish TV. Prior to that, he held pivotal roles at OTE Group in Oman, Hero MotoCorp, Unilever, and Gillette.
With Dua on board, Lectrix EV hopes to strengthen its market position, expand its product portfolio, and make electric mobility more accessible and sustainable.
(This article will be updated with the latest news throughout the day.)
