New Delhi, Feb. 26 -- Non-bank lender Prayaan Capital, AI platform for the construction sector MeltPlan, deeptech engineering startup Hycosys, and at least four other startups have secured funding in various early-stage rounds.
Prayaan Capital
MSME lending platform Prayaan Capital has raised Rs 110 crore ($12 million) in a Series A round led by Peak XV Partners.
The investment will fund the building of Prayaan Capital's lending platform, team expansion, and growth across key MSME markets in India, the company said in a statement.
Prayaan is led by Rangarajan Krishnan, the former CEO of non-bank lender Five-Star Business Finance. The company serves underserved MSMEs across India by combining branch-led distribution with a technology-enabled operating model.
MeltPlan
MeltPlan, which calls itself a pre-construction AI platform, has raised $10 million in seed funding led by Bessemer Venture Partners, with participation from European tech investor noa, the company said on Thursday.
The startup said it will use the funds to develop its "planning engine" for the construction industry, an AI system designed specifically to optimize decisions before construction begins. The funding will drive MeltPlan's product development across code, cost, schedule, and value decision systems.
Founded in 2025 by Kanav Hasija (co-founder of Innovaccer) and Tanmaya Kala, MeltPlan is developing a software for the construction sector that optimizes upstream decisions and tradeoffs before scope is locked, procurement begins, and change orders become inevitable. Its construction-native AI system is designed to understand building codes, materials, sequencing, procurement, and construction methods.
Companion Labs
Companion Labs has raised $2.5 million in seed funding led by Peak XV's Surge, with participation from All in Capital, UntitledVC, DeVC and angel investors.
Founded by Akshay Jhanwar and Ajit Pol, Companion Labs uses AI-powered characters and narratives to let users explore alternate lives, careers, and aspirations.
Hycosys
Hycosys has raised $1 million in a seed funding round led by MountTech Growth Fund (MGF Kavachh) as it plans to develop hydrogen-compatible micro gas turbines, the company said in a statement.
The startup said it will use the capital raised to accelerate system integration, pilot deployments, and fuel the commercialisation roadmap of its micro gas turbine platform with applications across distributed power, aerospace and mobility.
The Bengaluru-based deeptech engineering startup was founded by Tapish Agarwal and Ugandhar Reddy. Hycosys is developing a fuel-flexible gas turbine with applications across distributed power, aerospace and mobility. The MGT is essentially an advanced propulsion system or jet engine capable of running on 100% hydrogen, natural gas, or blended fuels.
FREED
Aavishkaar Capital, the investment arm of Aavishkaar Group, has led a Rs 60 crore investment in debt relief platform FREED, with participation from existing investors, Sanjay Nayar-led Sorin Investments, Piper Serica and Sattva Ventures.
The company said the fresh capital raised will fund operations scaling, geographic reach expansion, strengthening of product and underwriting capabilities, and deepening of institutional partnerships.
Founded by Ritesh Srivastava in 2020, FREED operates a debt platform offering behavioral insights, data intelligence and cash flow-based evaluation. The platform enables financial counselling, negotiated settlements and structured repayments through trustee-managed special purpose accounts.
Spintly
Spintly has raised $8 million in Series A funding led by Accel, with participation from Enrission India Capital, SucSEED Ventures, Alumni Ventures and Chakra Growth Fund.
Founded in 2020, the Goa-headquartered company develops wireless, cloud-based access control and smart building solutions. Founded by Rohin Parkar and Malcolm D'Souza, Spintly is an IoT and security technology company providing wireless, cloud-based access control and smart building solutions for enterprises and multi-site environments across diverse industries and use cases.
ZeroHarm Sciences
Plant-based nutraceutical brand ZeroHarm Sciences secured Rs 25 crore in investment from healthcare and wellness-focused venture fund Alkemi Growth Capital.
The fresh funding follows the plant-based nutraceutical brand's Rs 40 crore fundraise from Kotak Alternate Asset Management, through its Kotak Life Sciences Fund I (KLSF-I), earlier this month.
Founded in 2020 by Sachin and Shweta Darbarwar, ZeroHarm Sciences is a Hyderabad-based company that develops plant-based health supplements using proprietary nano-formulation technology.
Published by HT Digital Content Services with permission from VC Circle.