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Next Elevation’s new India fund; InsuranceDekho charts D-Street path Want this newsletter delivered to your inbox? Also in the letter Elevation Capital closes $500 million
Next Elevation’s new India fund; InsuranceDekho charts D-Street path Want this newsletter delivered to your inbox? Also in the letter Elevation Capital closes $500 million India fund; to back startups building on AI’s app layer Fund details Focus: Seed and Series A investments Thesis: AI-led businesses solving complex challenges in healthcare, education, and financial services. Scope: Global AI software companies being built out of India. Beyond software: Deeptech bets across space, defence, robotics, energy, and precision manufacturing. India focus Quote, unquote VC interest Peak XV Partners: Closed a $1.3 billion India fund in February, compared with a $2.8 billion vehicle in 2022. Lightspeed: Is planning to raise a $300-350 million India fund, down from its previous $500 million corpus., down from its previous.
Nexus Venture Partners: Raised a $700 million fund in December, matching the size of its prior fund. InsuranceDekho is working on Rs 2,500-3,000-crore IPO, plans September filing The IPO plan The Gurgaon-based company plans to raise Rs 2,500-3,000 crore at a valuation of around Rs 9,500 crore. The offer structure is expected to rely on a sizeable fresh issue and an offer-for-sale by early investors. InsuranceDekho does not intend to run a pre-IPO round. It will deploy fresh capital towards technology investments, acquisitions, and expansion into adjacent financial-services verticals. The company, incubated within the CarDekho group, will list independently. CarDekho, meanwhile, is also preparing its own IPO and is expected to file its papers by August, as ET reported on July 9.
Merger adds scale InsuranceDekho is working to close its merger with RenewBuy after securing approvals from the Competition Commission of India and in-principle clearance from the country's insurance regulator. with RenewBuy after securing approvals from the Competition Commission of India and in-principle clearance from the country's insurance regulator. The deal valued the combined entity at Rs 7,400 crore as of May last year – well below the Rs 9,500 crore valuation the company now wants to test in the IPO market. The merged business recorded Rs 6,700 crore in premium and business-level profitability in 2025-26. InsuranceDekho faces off against players such as Turtlemint and Policybazaar in India’s online insurance distribution market. Govt working with Sarvam and BharatGen for Mythos-like models Why this push Tell me more Patchwork defence HCLTech Q1 profit jumps 20%; revenue rises 13% Financials Net profit: Up 20% year-on-year (YoY) at Rs 4,624 crore vs Rs 3,843 crore a year ago.
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