The investment house Piper Serica, based in Mumbai and engaged in public and private market investments, has raised ₹300 crore during the first close of its Bharat Tech Fund, which has a total size of ₹800 crore.
The investment house Piper Serica, based in Mumbai and engaged in public and private market investments, has raised ₹300 crore during the first close of its Bharat Tech Fund, which has a total size of ₹800 crore.
According to the statement, nearly half of the commitments made at the first close came from existing Fund I investors, including institutional investors, family offices, and high-net-worth individuals.
Bharat Tech Fund, classified as an AIF Category 2, will focus on Indian startups in areas such as semiconductors, defense industry, space technology, fintech, robotics, biomedicine, and advanced electronics.
The fund plans to invest approximately between ₹25 and ₹50 crore in each startup, aiming to support companies developing world-class technologies in India.
At the first close, Ajay Modi, Director of Piper Serica, noted that the interest in Bharat Tech Fund demonstrates that investors view deep technology as a long-term opportunity, supported by the strong momentum shown through Fund I. He expressed confidence that the next generation of global Indian companies will emerge from founders solving complex problems through research, development, and science.
Piper Serica also reported having a very high-quality deal portfolio where deep technology companies generate significant revenue and secure large orders. Startups supported by Fund I included Alt Mobility, Pantherun, Rupeeflo, OTPless, Yaanendriya, Vobiz, and Six Sense Mobility.
The firm has been investing in the deep technology segment since 2022 and possesses an experienced investment team and expert staff. Modi emphasized: 'Our goal is to support entrepreneurs who create strong intellectual property and globally competitive businesses from India. We believe that India has the talent, policy support, and market opportunities to become a global leader in deep technology.'
Piper Serica had initially planned to complete the closing of Bharat Tech Fund by December of this year, but due to investor interest, it now expects to close the fund ahead of schedule.
Kaapi Machines, which provides equipment and services for coffee, has successfully raised 50 crore rupees in a share capital round from Sedna HoReCa. Sedna HoReCa is a supplier of solutions for the HoReCa sector—hotels, restaurants, and cafes/catering.
This was the first external funding for the company, which had previously developed through founders' investments. Kaapi Machines serves a wide range of clients, including large cafe chains, hotels, retail stores, corporate clients, and coffee sales enterprises.
The funds raised will be used by the company to expand its product range, strengthen production capacities, improve technological base, and warehouse and service infrastructure. Kaapi Machines' clients include Starbucks, Blue Tokai, McDonald’s, Araku, Subko, Burger King, and Boojee, as well as several specialized coffee shops. The company also collaborates with developing and venture companies such as NBC & AB Coffee and has a growing presence in the hospitality sector, working with brands like ITC Hotels and Oberoi.
Kaapi Machines aims to exceed revenues of 150 crore rupees in the current fiscal year, which spans 2026–27. Abhinav Mathur, Managing Director and CEO of Kaapi Machines, noted that the company started as an importer of international coffee equipment during the transition of Indian coffee from a commodity crop to a consumer product and the emergence of cafe culture. He emphasized that initially, the company collaborated with global leaders to introduce coffee equipment in India and provide after-sales service, which has always been its core business.
However, about two years ago, the company began exploring partnership opportunities with global brands to manufacture products directly in India. As a result of these partnerships, some have matured, and the company has begun local assembly of certain international products.
Going forward, Kaapi Machines intends to maintain its focus on the B2B HoReCa segment, continuing to invest in production, localization, and product innovation. Mathur expressed enthusiasm for the partnership with the Sedna team, noting that amid the growth and increased organization of the HoReCa industry, the company seeks to enhance its capabilities to offer customers new and advanced products, technologies, and solutions.
For his part, Saurabh Pandey, Managing Director of Sedna HoReCa, commented on the partnership, calling it a 'highly synergistic addition to Sedna's capabilities,' given Kaapi Machines' deep industry expertise, brand capital, and pan-Indian service network serving the fast-growing category. He added that this strengthens Sedna's vision of creating the most comprehensive B2B platform for the food service ecosystem in India.
Advay Capital Advisors served as the financial advisor for Kaapi Machines, and ALMT Legal acted as legal counsel. Sedna received consultation from K Law.
