New Delhi, June 3 -- US-headquartered venture capital firm Accel has started the process of raising its ninth India-focused fund while the UK-based Crane Venture Partners is looking to invest in an Indian startup and hospitality company Oyo has received regulatory approval for its initial public offering, separate media reports said.
Accel
Accel has started preparations for a new India fund to invest in local startups and may target raising $650-700 million, Moneycontrol reported, citing sources. It is looking to close the fund in early 2027, the report said.
Accel hit the final close on its eighth India fund in January 2025 after raising $650 million.
Crane Venture-Armatrix
Armatrix, a Bengaluru-based deeptech robotics startup, is in talks to raise around $15 million in a fresh funding round led by UK-based Crane Venture Partners, Moneycontrol reported, citing people familiar with the matter.
Armatrix previously raised $2.1 million in a pre-seed round in February led by pi Ventures. Inuka Capital, Boundless Ventures, Boost VC, Turbostart and gradCapital had also invested in the startup at the time.
Oyo
Hospitality brand Oyo's parent company Prism has secured approval from the Securities and Exchange Board of India for its IPO, multiple media reports said, citing sources.
Oyo plans to raise Rs 6,650 crore in fresh capital in the IPO. The company had filed for the IPO confidentially and now plans to file an updated draft prospectus within two months, the reports said.
Urban Company
Home services provider Urban Company has voluntarily exited Saudi Arabia after as it prioritises profitability over expansion, The Economic Times reported.
The company had started the voluntary winding-up process in late 2025, the report said, adding that the Saudi government recently cancelled the commercial registration of its step-down local subsidiary.
Published by HT Digital Content Services with permission from VC Circle.