• Startup Pulse
    London-based fintech startup Seva Money announced a $5 million seed funding round co-led by Blockwall and Revent, with participation from Seedcamp. altM raises $10.3 million in a Series A round led by Rainmatter by Zerodha and Mela Ventures, with Omnivore, Theia Ventures, Aureolis Ventures, Spectrum Impact and strategic angel investors participating. Venomics AI raises $2.7 million in a pre-seed round co-led by Speciale Invest and South Park Commons, with Operators Studio participating. EloElo Group raises $80 million in a Series C round led by Hornbill Capital and NBCUniversal, with MIT Investment Co. and existing investors participating. Peppermint Robotics raises ₹100 crore (approximately $10.5 million) in a Pre-Series B round led by pi Ventures and Crane Venture Partners, with Asiana Fund participating. O-Health raises an undisclosed amount of funding from Sangita Reddy, BugleRock Capital, Perpetual Capital, Ankit Nagori and Varun Dua. Traversal raises $120 million in a Series B round at a $1 billion valuation, led by Kleiner Perkins, Redpoint and Khosla Ventures, with Sequoia Capital, Battery Ventures and Amex Ventures participating. GIVA raises over $100 million in a round led by Multiples Alternate Asset Management. The Croffle Guys raises ₹14 crore in a round led by V3 Ventures, with N.A.N Partners participating. Solgram raises over $1 million in a pre-seed round led by DSG Consumer Partners and Saama Capital, with Kapil Chopra participating. London-based fintech startup Seva Money announced a $5 million seed funding round co-led by Blockwall and Revent, with participation from Seedcamp. altM raises $10.3 million in a Series A round led by Rainmatter by Zerodha and Mela Ventures, with Omnivore, Theia Ventures, Aureolis Ventures, Spectrum Impact and strategic angel investors participating. Venomics AI raises $2.7 million in a pre-seed round co-led by Speciale Invest and South Park Commons, with Operators Studio participating. EloElo Group raises $80 million in a Series C round led by Hornbill Capital and NBCUniversal, with MIT Investment Co. and existing investors participating. Peppermint Robotics raises ₹100 crore (approximately $10.5 million) in a Pre-Series B round led by pi Ventures and Crane Venture Partners, with Asiana Fund participating. O-Health raises an undisclosed amount of funding from Sangita Reddy, BugleRock Capital, Perpetual Capital, Ankit Nagori and Varun Dua. Traversal raises $120 million in a Series B round at a $1 billion valuation, led by Kleiner Perkins, Redpoint and Khosla Ventures, with Sequoia Capital, Battery Ventures and Amex Ventures participating. GIVA raises over $100 million in a round led by Multiples Alternate Asset Management. The Croffle Guys raises ₹14 crore in a round led by V3 Ventures, with N.A.N Partners participating. Solgram raises over $1 million in a pre-seed round led by DSG Consumer Partners and Saama Capital, with Kapil Chopra participating.
  • SC ST MSEs: Why BHEL, NTPC and 28 Other CPSEs Are Under Pressure to Buy More

    SC ST MSEs

    New Delhi: The Ministry of Micro, Small and Medium Enterprises (MSME) recently held a round table discussion with 30 Central Public Sector Enterprises (CPSEs) to strengthen public procurement from SC ST MSEs and review progress towards achieving the mandated 4% procurement target under the Government’s Public Procurement Policy.

    The meeting was held at the Dr. Ambedkar International Centre in New Delhi and chaired by Mercy Epao, Joint Secretary, Ministry of MSME.

    Ajit Chavan, Additional Chief Executive Officer of the Government e-Marketplace (GeM), Dr. S.S. Acharya, Chairman-cum-Managing Director of the National Small Industries Corporation (NSIC), and senior officials from the Ministry of MSME, Department of Public Enterprises and NSIC also participated.

    The discussion focused on addressing challenges faced by CPSEs in meeting their procurement obligations from SC ST MSEs, sharing best practices and strengthening coordination between National SC-ST Hub (NSSH) offices, GeM and CPSEs.

    MSME Ministry Highlights Growth in Procurement from SC ST MSEs

    Addressing the participants, Mercy Epao highlighted various initiatives undertaken under the National SC-ST Hub (NSSH) Scheme to promote and provide handholding support to SC ST MSEs.

    She noted that these initiatives had contributed to a continuous increase in the share of SC ST MSEs in public procurement. In FY 2025-26, public procurement from SC ST MSEs recorded an increase of more than 36 times since the inception of the scheme.

    Epao also highlighted the Entrepreneur Awareness & Special Vendor Development Program (EA&SVDP), a new initiative aimed at creating awareness among SC ST MSEs and facilitating networking opportunities with CPSEs.

    She urged CPSEs to formulate internal action plans to achieve the mandated procurement target. She also called on them to extend support to SC/ST MSEs through vendor registration and enlistment procedures, product and service matchmaking, regional and local-level connections with CPSEs, and handholding assistance.

    GeM Highlights Measures to Increase Participation of SC ST MSEs

    Ajit Chavan, Additional Chief Executive Officer of GeM, acknowledged the Ministry of MSME’s significant contribution towards empowering small enterprises and achieving key milestones under the public procurement framework.

    He outlined various measures introduced by GeM to facilitate the participation of SC/ST MSEs in government tenders. These include identifying SC/ST MSE sellers through dedicated marketplace filters to make it easier for procurement agencies to identify eligible businesses.

    Chavan emphasised the importance of engaging sellers from diverse sectors, particularly in services and different industry verticals, to ensure equitable access to procurement opportunities.

    He also encouraged CPSEs to utilise the services of the Nodal Officer appointed by GeM for handholding support and assistance in facilitating procurement from SC/ST MSEs.

    30 CPSEs Participate in Discussion on Procurement Challenges

    A total of 30 CPSEs participated in the round table discussion, including Bharat Heavy Electricals Limited (BHEL), Bharat Electronics Limited (BEL), NTPC, Airports Authority of India (AAI), BEML and Coal India Limited.

    The meeting provided a platform for CPSEs to interact with better-performing public sector enterprises, understand their procurement practices and address existing gaps and challenges in meeting the procurement targets for SC/ST MSEs.

    Discussions also explored opportunities to strengthen collaboration between CPSEs and the National SC-ST Hub through vendor development programmes, capacity-building initiatives and digital facilitation support.

    The participants also discussed ways to strengthen procurement from SC/ST-owned and women-owned micro and small enterprises.

    The round table was aimed at improving coordination among CPSEs, NSSH offices and GeM while identifying practical measures to expand the participation of SC/ST MSEs in government procurement opportunities.

    Author

    • Salil Urunkar

      Salil Urunkar is a senior journalist and the editorial mind behind Sahyadri Startups. With years of experience covering Pune’s entrepreneurial rise, he’s passionate about telling the real stories of founders, disruptors, and game-changers.

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