New Delhi, June 30 -- Albatross Energetics, a deep-tech company, has secured $1.05 million (Rs 10 crore) in a pre-Series A funding round led by Transition VC.
The company will use the capital to establish pilot-scale manufacturing capabilities for critical components like heat-and-mass exchangers and liquid desiccants, it said in a press release.
It also plans to expand commercial deployments across industrial sectors, strengthen engineering and quality teams, and accelerate research and development for next-generation cooling technologies.
The startup, founded in 2021, is building energy-efficient air conditioning and dehumidification systems for industrial applications, using advanced liquid-desiccant technology to directly remove moisture from air, significantly reducing the energy required for humidity control.
It designs, manufactures, and deploys industrial cooling systems for sectors including pharmaceuticals, semiconductors, electronics, batteries, food processing, chemicals, and textiles, helping customers lower both operating costs and carbon emissions.
Vayana
SMBC Asia Rising Fund, the corporate venture capital arm of Japan's Sumitomo Mitsui Banking Corporation, has doubled down on its investment in trade financing startup Vayana. The round comprised a mix of primary and secondary capital, SMBC Asia said in a statement.
The investment firm didn't disclose the details of the capital it invested in the startup but said it has invested $12-15 million in follow-on rounds across three of its existing fintech portfolio companies: Easy Home Finance, Vayana, and DPDzero.
Vayana, based in Pune, had raised Rs 170.8 crore (about $20.5 million) in its Series D round, from SMBC, Chiratae Ventures and International Finance Corporation in June 2024.
The company provides a full stack of trade credit assessment, monitoring, and trade document processing. It claims to be facilitating over $1 billion of financing every month by banks and NBFCs to over 3,000 supply chains and their constituents distributed across the country. The company received its non-banking licence in 2025, and was reported to be planning to raise capital.
"Our follow-on investments reflect a simple principle: we increase conviction where we see sustained execution and expanding opportunity. Each of these companies has evolved meaningfully since our initial investment and is building capabilities that go beyond technology to become foundational enablers of India's financial ecosystem," said Rajeev Ranka, partner for India Investments at SMBC Asia Rising Fund.
Published by HT Digital Content Services with permission from VC Circle.