NuSynth Technologies raises ₹36.5 million in seed round with participation from Avaana Capital and Shastra VC

NeoGrowth, a digital lender specializing in SMEs, has raised investments totaling 85 crore rupees. The round was led by FMO, the Dutch enterprise development bank, with participation from LeapFrog Investments.

According to the company's statement, the acquired capital will be used to support NeoGrowth's next stage of growth. Goals include expanding access to credit for small and medium-sized enterprises (SMEs), strengthening digital lending capabilities, and deepening market presence.

Between April 2025 and July 2026, the company attracted approximately 2,000 crore rupees in debt financing from 18 lenders. Other investors in NeoGrowth include Omidyar Network, Lightrock, Khosla Impact, Accion Frontier Inclusion Fund–Quona Capital, 360 ONE Asset, FMO, and LeapFrog Investments.

NeoGrowth was founded by Dhruv Kaitan and Piyush Kaitan. The company manages assets worth nearly 2,000 crore rupees and has disbursed over 16,000 crore rupees. In fiscal year 26, NeoGrowth expanded its distribution network, opening 17 new branches and achieving presence in 46 locations.

Arun Nayar, Managing Director and CEO of NeoGrowth, noted that this investment enhances the company's ability to provide more timely and accessible formal loans to SMEs during business scaling.

The company also reported that it continues to improve its underwriting, portfolio monitoring, and risk management systems using proprietary artificial intelligence-based initiatives.

Peter Bird, Private Equity Director at FMO, stated that FMO has been collaborating with NeoGrowth since 2017 and invested $20 million in equity in 2022. He expressed satisfaction with the opportunity to strengthen this partnership through the current investments, reflecting FMO's continued trust in the team, business model, and NeoGrowth's capacity to responsibly scale its impact.

Bird added that expanding access to finance for underserved entrepreneurs is a key part of FMO's strategy to support inclusive growth and reduce inequality.

FMO is a Dutch enterprise development bank that focuses on sectors such as agribusiness, food and forestry, energy, and financial institutions. The bank has a committed portfolio of 16 billion euros covering over 85 countries.

The design-led lifestyle-tech brand DailyObjects successfully raised 332 crore rupees in its Series C funding round. The leaders of this round were Xponentia Capital Partners, Anicut Capital, and Axiom Asia Private Capital.

This funding round comprised a combination of primary and secondary transactions, which boosted DailyObjects' valuation to 1,050 crore rupees. The company announced that Roots Ventures, one of the early investors, is partially exiting the project, realizing an 18x return on investment, while retaining its shareholder status alongside 360 One Asset and Trifecta Capital.

The company was founded in 2012 by Pankaj Garg and Saurav Adlakha. The raised funds are planned to be used for expanding retail presence, deepening product and R&D capabilities, strengthening the brand, and exploring opportunities for international market entry.

Over the next five years, the company intends to open 150 exclusive flagship stores across India. The main focus will be on building a profitable physical retail network, improving the product discovery process, and bringing the brand closer to consumers in key regions.

Pankaj Garg, co-founder and CEO of DailyObjects, stated: 'Over the years, we have built DailyObjects, remaining steadfastly focused on design, product quality, and disciplined capital deployment. As we scale, capital efficiency and profitable growth will remain at the core of our development approach.'

Furthermore, DailyObjects plans to strengthen its presence in existing product categories through investments in new product lines, design, materials, quality, and research and development. The company is considering opportunities for expansion into foreign markets, as its broader goal is to build a global consumer brand rooted in Indian design.

P Srinivas, Managing Partner at Xponentia Capital Partners, commented: 'DailyObjects has created a distinctive brand in a market where products were traditionally functional but not inspiring, and competition primarily focused on cost. What impressed us most was Pankaj and Saurav's commitment to delighting customers with both superior design and functional quality.'

The pharmaceutical company Linux Laboratories, based in Chennai, has raised $70 million in equity capital from the ChrysCapital and Tata Capital Healthcare Fund III funds.

This deal represents a combination of primary capital raising and secondary purchase. As a result, ChrysCapital will receive a significant minority stake in Linux, while Tata Capital Healthcare Fund II (TCHF II) will fully exit the company, realizing a return of approximately 4 times.

Linux stated that it plans to use the raised funds to support the next stage of its growth. This includes deepening its presence in core specialized areas, entering adjacent therapeutic fields, continuing brand acquisitions, and further investing in manufacturing capabilities and research and development.

Founded in 2007, Linux is a domestic platform focused on niche specializations, possessing a portfolio of over 125 brands covering more than 400 product lines. Its main specialization is central nervous system (CNS) therapies, including treatment for epilepsy, neuropathic pain, depression, and autism, while the company has expanded its operations into dermatology, cardio-diabetes, and nutraceuticals.

Co-founder and CEO of Linux Laboratories, S Ananda Kumar, noted that the company was established on the belief that a focused, science-backed portfolio ensuring healthcare accessibility and quality can compete with the largest players in the Indian pharmaceutical market.

According to the statement, Linux combined organic and inorganic growth by integrating and scaling the portfolios of Biomedica and Indiabulls Pharmaceuticals, as well as brands acquired from Cipla and Dr. Reddy’s Laboratories. The company also operates its own WHO-GMP certified manufacturing facility, which supports backward integration for branded business while strengthening its Contract Development and Manufacturing Organization (CDMO) operations and its export presence in various countries.

Kshitij Seth, Managing Director of ChrysCapital Advisors, emphasized that this investment aligns with ChrysCapital's strategy to support fast-growing domestic companies dealing with chronic diseases and led by dynamic entrepreneurs.

Linux Laboratories noted that the Indian branded drug market continues to attract strong investment interest. This interest is driven by the growing burden of chronic and subchronic conditions, as well as the increasing share of specialist-focused and niche portfolios.

Avendus Capital served as the exclusive financial advisor for Linux in this transaction.