Latest news with #AmalParikh
Time of India
15 hours ago
- Business
- Time of India
ETtech Deals Digest: Startups raise $738 million in June, down 60% on-year
ETtech ETtech ETtech ETtech Indian startups raised about $738.5 million in funding between June 1 and 27, marking a 60% decrease from the full month last year, when they had raised a total of $1.8 billion across 207 month, startups, primarily in the seed, early and late stages, secured funding through 68 rounds, according to data from market intelligence platform May 2025, startups raised around $1.06 billion from 79 week — from June 21 to June 27 — startups raised around $276.3 drone manufacturing startup Raphe mPhibr raised $100 million in an equity funding round led by Silicon Valley investor General Catalyst. The round also saw participation from existing investors, including stock market investor Amal Parikh, Think Investments, and other family firm Cred closed a funding round of about $72 million at a sharply reduced valuation of $3.5 billion. This marks a steep 45% cut from the $6.4 billion valuation at which the company last raised capital in 2022. Singapore's sovereign wealth fund GIC , through its investment arm Lathe Investment, led the Singapore-based wealth management platform raised $53 million in a fresh funding round, led by two UK-based family offices. In August 2024, the company had raised $27 million as part of the same round, and this extension takes the total funds raised in the round to $80 million.Y Combinator-backed cross-border payments startup Aspora raised $53 million in Series B funding, co-led by Sequoia and Greylock, with Quantum Light Ventures also contributing to the non-banking finance company (NBFC) Flexiloans raised around $43.8 million in a mix of primary and secondary capital. The round was led by existing investors Nandan Nilekani's Fundamentum, US-based impact investor Accion Digital Transformation, American asset management firm Nuveen, and Denmark-based asset management major Maj Invest.
Time of India
2 days ago
- Business
- Time of India
Drone maker Raphe mPhibr raises $100 million in round led by Silicon Valley's General Catalyst
Academy Empower your mind, elevate your skills Noida-based drone manufacturing startup Raphe mPhibr has raised $100 million in an equity funding round led by Silicon Valley investor General Catalyst , the company said in a press release. The round, which values the nine-year old startup at nearly $900 million, also saw participation from existing investors including stock market investor Amal Parikh, Think Investments and other family what is among the largest financing rounds for an Indian military drone maker, the $100 million raise takes the company's total funding to $145 million. According to Venture Intelligence, Indian drone makers have raised a total of $151 million in the last five years.'The products emerging from Raphe mPhibr are already making a tangible impact on the ground, signalling what we believe will be a monumental shift. Their work is not only accelerating India's path to strategic self-reliance but also embodies the essence of our 'Global Resilience' thesis at General Catalyst – building for a future that is secure, sovereign, and sustainable,' said Neeraj Arora, managing director at General Catalyst. The investor has backed several other defence tech startups, including US-based companies such as Anduril Industries and Vannevar Labs, and Europe-based AI defence tech company funding comes at a time when the demand for locally made military unmanned aerial vehicles (UAV) has increased — as witnessed recently during the skirmish between India and Pakistan that saw both countries deploy drone per a Reuters report in May, which cited Drone Federation of India's president Smit Shah, India plans to invest heavily in local industry and could spend as much as $470 million on UAVs over the next 12 to 24 months, roughly three times pre-conflict in 2016 by Vivek Mishra and Vikash Mishra, the startup designs and manufactures a range of unmanned aerial vehicles (UAVs), which includes a drone swarm platform, a high-altitude logistics drone, a surveillance drone and a compact maritime patrol system. The company said that several of these systems are already being used by Indian defence to Tracxn data, Raphe mPhibr, which competes with the likes of listed player IdeaForge, Garuda Aerospace and Tata Advanced Systems, reported revenue of Rs 86 crore in fiscal 2024 – more than double of Rs 42 crore in FY23. The company also posted a profit of Rs 9 crore in mPhibr was among the 12 drone manufacturers shortlisted by the central government in 2022 for the production-linked incentive scheme for drones and drone components.
Time of India
2 days ago
- Business
- Time of India
Drone maker Raphe mPhibr secures $100 mn to expand aircraft design &manufacturing in India
(You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Indian drone startup Raphe mPhibr on Thursday announced that it has raised $100 million in a round led by General Catalyst, with participation from existing investors, including Amal Parikh, Think Investments, and other prominent high-net-worth family offices. This is the largest round of private funding raised by an Indian company in this industry to date and takes Raphe mPhibr's total capital raised to $145 million.'We are proud to join forces with Raphe mPhibr on their transformative journey to redefine engineering-led manufacturing across a spectrum of critical applications,' said Neeraj Arora, Managing Director at General Catalyst.'What sets this team apart is their unwavering, mission- driven ethos, coupled with an expansive vision and formidable technological depth. The products emerging from Raphe mPhibr are already making a tangible impact on the ground, signalling what we believe will be a monumental shift. Their work is not only accelerating India's path to strategic self-reliance but also embodies the essence of our Global Resilience thesis at General Catalyst—building for a future that is secure, sovereign, and sustainable.'
Business Upturn
2 days ago
- Business
- Business Upturn
Raphe mPhibr Secures $100M to Expand Aircraft Design and Manufacturing in India
NEW DELHI, June 26, 2025 (GLOBE NEWSWIRE) — Raphe mPhibr (रेफी एम फाइबर), India's most innovative aircraft manufacturing company, announced today that it has raised $100 million in a round led by General Catalyst, with participation from existing investors, including Amal Parikh, Think Investments, and other prominent high-net-worth family offices. This is the largest round of private funding raised by an Indian company in this industry to date and takes Raphe mPhibr's total capital raised to $145 million. 'We are proud to join forces with Raphe mPhibr on their transformative journey to redefine engineering-led manufacturing across a spectrum of critical applications,' said Neeraj Arora, Managing Director at General Catalyst. 'What sets this team apart is their unwavering, mission-driven ethos, coupled with an expansive vision and formidable technological depth. The products emerging from Raphe mPhibr are already making a tangible impact on the ground, signalling what we believe will be a monumental shift. Their work is not only accelerating India's path to strategic self-reliance but also embodies the essence of our Global Resilience thesis at General Catalyst—building for a future that is secure, sovereign, and sustainable.' 'Raphe mPhibr is uniquely positioned to develop cutting-edge aircrafts and UAVs given their robust, end-to-end design, engineering, and manufacturing capabilities,' shared Shashin Shah, Managing Partner, Think Investments. 'We are excited to deepen our partnership with the Raphe mPhibr team, and this investment underscores our conviction that it will emerge as one of the foremost aerospace companies in India.' Built with Purpose Founded nearly a decade ago, Raphe mPhibr grew alongside India's national vision of Aatmanirbhar Bharat and Make in India. These policies laid the foundation for building essential technologies within the country, especially in defence, where the needs of security forces continue to evolve in a complex and fast-changing world. Raphe mPhibr was born to serve that mission: to design and build solutions in India for those who protect it. Inspired by Nature Raphe mPhibr's engineering has always drawn from a timeless source: nature. As Aryabhata wrote, nature operates through laws and patterns that reveal themselves through observation and analysis. That philosophy shapes how the company builds and organises itself. Raphe mPhibr is built around strong engineering and science departments, with dedicated teams in aerodynamics, materials science, structural mechanics, vibrations, thermodynamics, electromagnetics, and more. Not just to model the world, but to build systems that move with its logic, not against it. Turning observations into working solutions demanded more than insight; it required capability. To deliver technology that India's forces could rely on in mountains, deserts, oceans, and beyond, Raphe mPhibr had to create India's most advanced, end-to-end aerospace manufacturing campus. Building End-to-End 'India has single-handedly developed its technology […] without spying or stealing the knowledge from other countries.' — Dr. R. Chidambaram, in his Science Popularisation Lecture at the 2019 Goa Science Film Festival. That belief in building with integrity and technical depth continues at Raphe mPhibr. The company didn't set out to assemble parts, it set out to engineer solutions end-to-end. And to do so, Raphe mPhibr created a campus where design, simulation, manufacturing, and testing all work together, under one roof. As a result, the headquarters houses India's most advanced metal processing, composite manufacturing, engine design and testing, and military-grade electronics facility. Every manufacturing centre was designed with a single goal: to deliver systems our security forces can rely on. Many of these systems are already in the field: mR10: The world's first operational drone swarm. The world's first operational drone swarm. mR20: The world's first high-altitude logistics platform for resupply in remote forward areas. The world's first high-altitude logistics platform for resupply in remote forward areas. Bharat: A lightweight man-carried drone for rapid surveillance in complex terrain. A lightweight man-carried drone for rapid surveillance in complex terrain. X8: A compact platform for maritime patrol and situational awareness at sea. They help teams move faster, see further, and stay safer. Other products are in the making too, currently in the final stages of validation. And their echoes are now being heard far beyond India, in Paris, Dubai, and London, where Raphe mPhibr's engineering is increasingly shaping the global discourse. The company's motto, 'We innovate for a better society', guides how the company works and the partners it chooses. Raphe mPhibr partners with national institutions, in line with the mission laid out by India's Prime Minister: Make in India, innovate in India, and become truly Aatmanirbhar. It also works with international partners such as Dassault Systèmes, HENSOLDT, and Safran. 'Raphe mPhibr's implementation of our 3DEXPERIENCE platform shows how virtual worlds help innovators achieve speed and sovereignty by accelerating the entire product lifecycle from concept to certification,' noted Olivier Sappin, CEO, CATIA, Dassault Systèmes (France). 'We've worked closely with Raphe mPhibr's teams and seen first-hand their ability to deliver advanced mil-grade electronics and mechanical systems,' stated Oliver Dörre, CEO, HENSOLDT (Germany). 'Raphe mPhibr is a technological and industrial adventure the likes of which can only be found in India. We're proud of the partnership we are building with this company which could become one of the world's major players in the drone industry,' shared Alexandre Ziegler, Executive Vice President, Defense GBU, Safran Electronics & Defense (France) via LinkedIn. People First 'A musician must make music, an artist must paint, a poet must write, if he is to be ultimately at peace with himself.'— Abraham Maslow, founder of humanistic psychology and one of the most influential psychologists of the 20th century. All strong philosophies, whether scientific, strategic, or national, ultimately rest on people. And for people to do exceptional work, they must feel safe, supported, and fulfilled. That's why Raphe mPhibr is committed to building not just technology, but culture. A culture that is psychologically safe, emotionally grounded, organically grown, and quietly rigorous. One that helps people become not just better engineers, but better versions of themselves. As the Raphe mPhibr team often says: 'If we eat well, we innovate well.' It's a simple truth that makes Drongans feel good and when people feel good, they build what others think is impossible. Making It in India 'The world is looking at India with new eyes, and it's time we matched our vision with capability.' — Prime Minister Narendra Modi, during an annual Independence Day address to the nation. This funding is not just capital; it is a commitment. A commitment to build in India what the country cannot afford to depend on others for. To turn policy into product. To make Aatmanirbhar Bharat not just a campaign, but a living, flying ecosystem. About Raphe mPhibr Raphe mPhibr is India's most innovative aircraft manufacturer. Conceptualised in 2016, the company has logged over 1 million kilometres of flight, delivered the world's first operational drone swarm, and developed India's first indigenous state-of-the-art military grade autopilot, and lightweight internal combustion engine. From metals to composites and electronics, Raphe mPhibr designs and builds everything under one roof. With 600+ team members, over 100 unique IPs, and world-class design and manufacturing facilities, Raphe mPhibr innovates for a better society. Raphe mPhibrAman ChhabraPresident General+91 84477 43095 [email protected]
