Participated · Equity · Jul 2026

Founded in 2015 by Alok Mittal and Siddharth Mahanot, Indifi operates a technology-led lending platform that facilitates unsecured business loans to SMEs via partnerships with lending institutions. The company says it has facilitated more than 1.5 lakh loans across 400-plus cities through partnerships with over 80 lending institutions. Indifi reported operating revenue of Rs 360 crore in FY25, up 22.4% from Rs 294.24 crore a year earlier, while its net loss widened 64% to Rs 45.04 crore in the same period. The fresh Rs 79 crore injection from existing backers is intended to expand operations, strengthen infrastructure, meet working capital needs, repay debt, and cover other corporate requirements. Previously, Indifi secured $35 million in 2023 in a round led by ICICI Venture.

Participated · Series A · Apr 2026

Founded in 2023 by Yuma Sasaki in Ethiopia, Dodai assembles electric motorcycles and batteries locally and operates an infrastructure of battery-exchange stations that let riders swap depleted batteries. Since launch the company reports it has assembled and deployed more than 2,000 electric motorcycles. Dodai raised $7 million in 2024 and has now completed a $13 million Series A that mixes $8 million in equity and $5 million in debt. The company plans to use the new funding to expand its battery-swap network in Addis Ababa—aiming for 30 stations and 3,000 users within 12 months—and to scale to 30,000 users and 1,000 stations over three years. Dodai also targets regional expansion to several African cities starting in 2028, leveraging its integrated model of local assembly plus battery-exchange infrastructure.

Led · Equity · Apr 2026

Polaris provides end-to-end smart metering solutions encompassing manufacturing, deployment, communications infrastructure, and software platforms. It is an I Squared Capital portfolio company and operates through subsidiaries such as Hooghly Smart Metering Private Limited. Polaris has an order book of about $1.1 billion, covering projects across Uttar Pradesh, West Bengal, and Manipur, with commitments for a total of 7.5 million electric meters. The company also serves the smart gas metering segment, with 1.6 million gas meters. Its near-term plans, supported by the recent Rs 710 crore financing, include deploying over 2.2 million smart meters in West Bengal and expanding its AMI footprint.

Participated · Equity · Mar 2026

Sistema.bio is described as a Mexican biogas firm that has launched FarmCarbon, a climate finance vehicle tied to carbon markets. The company secured $53 million to support FarmCarbon, which is intended to channel carbon market revenues to smallholder farmers. The article does not provide additional detail on Sistema.bio’s core products, revenue, user metrics, or founding year. It also does not disclose participating investors or prior financing rounds. The disclosed funding indicates an active move into climate finance mechanisms linked to the carbon market.

Led · Series B · Mar 2026

Co-founded in 2022 and based in Mumbai, Ecofy provides financing for economically sustainable climate initiatives including EVs, rooftop solar systems, energy-efficient equipment, energy storage, e-mobility, waste recycling, and water management. The company serves over 130,000 customers across 26 states and more than 500 cities and has grown assets under management to over Rs 1,400 crore. Ecofy reported revenue from operations rising 4.8X to Rs 93.3 crore in FY25 from Rs 19.19 crore in FY24, while losses increased 15.6% to Rs 42.28 crore. Its loan book is entirely retail, supported by partnerships with more than 100 OEMs and more than 23 banks and financial institutions. After recent fundraises, including the $15 million debt from Mirova and earlier equity from British International Investment, Finnfund, and FMO, the company cites a capital adequacy ratio of approximately 50% as it scales lending for rooftop solar and electric mobility across India.