Neo Group raises ₹350 crore in funding round led by Peak XV Partners

Senra Systems has successfully raised $65 million in a Series B funding round. These funds will be used to scale its software-driven manufacturing platform designed for wire harness production. The investment will allow the company to open a third production facility, which is necessary to meet growing demand from the aerospace and defense industries.

Funding Round Participants

The funding round was co-led by Lowercarbon Capital and Interlagos. General Catalyst, Sequoia Capital, Andreessen Horowitz, Founders Fund, 8VC, CIV, Dylan Field, The Friedkin Group, Jaws Estates Capital, Sozo Ventures, and Alumni Ventures also participated.

Importance of Wire Harnesses

CEO and co-founder Jordan Black noted that wire harnesses remain one of the most undervalued bottlenecks in manufacturing for the aerospace and defense industry, despite being critical components in advanced aircraft, satellites, launch vehicles, and defense systems.

Modern Manufacturing Platform

Senra produces complex wire harness systems that provide power, communication, and data distribution across all aerospace and defense platforms. Their platform helps reduce manual operations, accelerates adaptation, and increases production stability.

The company's manufacturing operations are based on Amp—Senra's proprietary software platform. This system integrates engineering, calculations, supply chain management, production planning, and manufacturing workflows into a single digital environment.

Expansion of Production Capacity

Earlier this year, Senra opened its second manufacturing site in Cypress, which increased its production base fivefold. This 80,000 square foot facility is expected to help the company increase its monthly production capacity from approximately 1,000 wire harnesses to around 10,000 by next year.

Addressing Workforce Challenges

The demand for wire harnesses has significantly increased amid rising government investments in aerospace and defense programs. Nevertheless, the industry continues to face labor shortages and production constraints. Senra aims to solve these issues by combining software automation with structured personnel training programs. The company is creating an integrated manufacturing solution capable of supporting the aerospace, defense, energy, and computing sectors.

Lowercarbon Capital General Partner Kai Lee stated that wire harnesses form the basis of virtually every advanced electronic platform, making manufacturing automation vital for expanding industrial potential.

Strengthening Company Leadership

The company has strengthened its leadership team by appointing Ken Wenner as Chief Technology and Product Officer. Wenner previously served as Director of Information Technology at SpaceX, where he oversaw corporate systems and the development of manufacturing infrastructure. He managed technologies supporting SpaceX's production operations and launch infrastructure across numerous advanced aerospace programs.

At Senra, Wenner will be responsible for the company's manufacturing platform, operating systems, and long-term technology roadmap. He will guide the technological strategy during the company's preparation for the next phase of business expansion. The company believes that software, automation, and workforce development will strengthen domestic manufacturing capabilities in critical industries.

FORE Biotherapeutics has successfully raised $67.4 million to support the development of its lead targeted anti-cancer drug, plaxiorafenib. This funding round was co-led by SR One, Medicxi, and SymBiosis, and also attracted new investors, including TaiAx, LG Technology Ventures, Primer Ventures, and Axil.

Previous Investor Participation

Previously invested companies such as OrbiMed Advisors, HBM Healthcare Investments, Wellington Management, Cormorant Capital, Novartis Venture Fund, Windham Life Science Partners, Samsung, and 3B Capital also participated in the deal. Thanks to this new round, the total capital raised in Series D-2 reached $110 million. The Philadelphia-based firm focuses on developing targeted treatments for patients with types of cancer that are often difficult to treat.

Plans for Fund Utilization

President and CEO William Hinshaw stated that the additional funds will allow the company to successfully pass key clinical and regulatory milestones over the next few years to advance plaxiorafenib to more advanced stages of development. The funds are planned to be directed towards continuing the late-stage development of plaxiorafenib, also known as FORE8394.

Research and Regulatory Goals

The company has completed patient enrollment in the global FORTE study, which covers recurrent or progressive central nervous system tumors with the BRAF V600E mutation. Preliminary results from this study are expected by the end of 2026, and if favorable, the company aims to file for accelerated approval with the FDA in 2027. Previously, the FDA granted plaxiorafenib Breakthrough Therapy designation in April 2026.

Expansion of Clinical Program

The therapy is being evaluated in patients with BRAF-altered tumors, including certain types of brain and spinal cord cancer. Furthermore, the company continues to develop monotherapies in additional indications, targeting rare solid tumors with the BRAF V600 mutation and common solid tumors with BRAF fusions. The FORTE study is a global Phase 2 trial designed to evaluate plaxiorafenib in various patient groups. The company recently received approval to include patients aged eight and older in the study, expanding access for children and young adults with specific BRAF-altered CNS tumors. The dosing regimen was also updated to allow plaxiorafenib to be taken with food, eliminating the need for an additional pharmacokinetic boost previously used in the trial. According to the company, drug-related discontinuation remained below 2% across all tumor types.

Prospects and Oncology Market

Earlier studies have demonstrated encouraging activity of the drug. In a Phase 1/2 study with patients having recurrent primary CNS tumors with BRAF V600 who had not previously received MAPK inhibitors, plaxiorafenib showed significant response rates and a favorable safety profile. FORE Biotherapeutics positions plaxiorafenib as a next-generation BRAF inhibitor designed to address limitations associated with earlier treatment methods. The company asserts that its approach can reduce recurrence rates and decrease the need for combination therapies used with older BRAF drugs. This deal reflects sustained interest in the growing market of precision oncology—treatments tailored to individuals with specific genetic mutations. BRAF mutations occur in several types of cancer and remain a focus for drug manufacturers.

Sterlite Technologies Ltd, a broadband access technology company, announced on Monday that it has raised an amount of ₹150 billion through a Qualified Institutional Placement (QIP).

Objectives of the Fundraise

The main goals for using these funds are to reduce the company's debt burden and ensure financing for the next stage of its development. As part of the placement, 2.57 billion shares were allocated to qualified institutional buyers, totaling ₹150 billion.

Financial Changes

After the completion of the placement, the equity capital of Sterlite Technologies increased to ₹102.78 billion, which includes 51.39 billion shares.

Placement Participants

Both domestic and international investors participated in the QIP process. The company specified that participants included Motilal Oswal, Nomura, HSBC, Bank of India, Oxbow, Think Investments, Bandhan, and Manulife.

Capital Utilization Plan

According to the statement, the raised funds will primarily be directed towards significantly reducing the company's debt load, which will substantially strengthen its financial position. Furthermore, the capital will serve as a solid foundation to support the next phase of STL's growth.

Management Comments

STL Managing Director, Ankit Agarwal, expressed gratitude to the investors for their continuous support. He noted that attracting this capital demonstrates investor confidence in STL's vision and execution. These funds will be used to strengthen the balance sheet, advance the next stage of growth, and accelerate the mission to change the lives of billions by connecting the world.