Non-banking finance company Techfino Capital Pvt Ltd, electric motorcycle maker Oben Electric, SaaS startup Illumine, and fintech company Seven have secured funding in separate early-stage rounds, the companies said on Wednesday.
Techfino
Techfino said it has secured Rs 65 crore in its Series A funding round from Saison Capital, the venture arm of Tokyo-listed financial firm Credit Saison, and Stellaris Venture Partners.
The NBFC will use the funds to expand its branch network, enhance its technology platform, and scale its secured lending business focused on MSMEs.
The lender is also backed by DCB Bank, which acquired a stake in Techfino in 2021. As of March 2024, DCB Bank held a 6.2% stake in the company, according to Techfino’s annual report.
Techfino offers loans against property to MSMEs in Tier-II and Tier-III cities in Karnataka, Gujarat, Madhya Pradesh, and Andhra Pradesh. It also provides education loans by partnering with education service providers through a B2B2C model.
The company’s net profit declined to just Rs 0.27 crore in FY24 from a little over Rs 2 crore in FY23, according to regulatory documents accessed by VCCircle. Additionally, its topline remained flat at Rs 187 crore for FY24.
Founded by bankers Jayaprakash Patra, Rajesh Panda, and Ratikant Satapathy, the company claims that it has disbursed over 1 lakh loans to date and surpassed Rs 200 crore in assets under management (AUM).
Electric motorcycle maker Oben Electric has closed a Series A round of funding with Rs 100 crore, following an additional Rs 50 crore investment in May 2025.
The round saw participation from Helios Holdings, the Sharda family office, Kay family and other new and existing investors, Oben said. This infusion will help Oben expand its presence with over 150 showrooms across 50-plus cities by FY26. It also intends to fast-track product development of the new ‘O100’ platform for affordable electric motorcycles under Rs 1 lakh, scale up its manufacturing facility in Bengaluru, and strengthen its after-sales service network.
The company in January this year secured Rs 50 crore as part of the Series A round. Overall, Oben has raised Rs 200 crore in funding so far. The company said it plans to raise $30 million in Series B this year to support international expansion and further scale-up of production and product lines.
Founded in 2020 by Sagar Thakkar, Dinkar and Madhumita Agrawal in Bengaluru, Oben Electric is an EV maker which designs, develops and manufactures electric two-wheelers indigenously.
Illumine
Illumine has raised $2.5 million in seed funding from Prime Venture Partners to accelerate product development and international expansion.
Led by Navneet Rastogi, the startup operates a SaaS platform for childcare for preschools and childcare centres. The platform streamlines operations, enhances communication, and delivers intelligent insights, with a presence in 56 countries including the US, UAE, Southeast Asia, Europe, and India.
Seven
Fintech startup Seven has secured Rs 4 crore in pre-Series A funding round led by early-stage investor and incubator Venture Catalysts.
The Mumbai-based fintech startup, which makes contactless payment smart ring, also raised funding from existing investor Vinners and Anchorage Capital Partners in the round.
Venture Catalysts said the investment will drive Seven's production of its flagship 7 Ring to scale. The device is a RuPay- and MasterCard-certified wearable that processes transactions without requiring charging, PINs, or smartphone apps. Seven also plans to expand its coverage to metro stations and e-commerce platforms like Amazon and Flipkart.
The company was founded by Vijay Khubchandani, Mahek Savla, and Karthik Menon.
