New Delhi, Sept. 22 -- Spacetech startup SpaceFields, HR-tech platform All Things People (ATP), power equipment maker Tesla Power Equipments and Projects, and generative AI platform OnFinance AI have secured funding in various rounds from venture capital firms, angel investors, and alternative investment funds, the companies said on Monday.

Meanwhile, India Accelerator will acquire co-working space provider MySOHO.

SpaceFields

Deeptech startup SpaceFields has raised $5 million (Rs 42 crore) in a strategic investment round led by Globaz Technologies Pvt Ltd. The round was co-led by Rockstud Capital, Venture Catalysts++ Group. It also saw participation from Nithin Kamath's Rainmatter, VC Grid, Burla Angel Network, Faad Capital, SIDBI, O2 Angels, MeitY Startup Hub, and others.

In 2024, the company had raised about $1.3 million in seed funding from Jamwant Ventures, HVB 88 Angels, and others.

The startup said the fresh capital will be deployed to scale manufacturing, secure key regulatory certifications, and expand the team across engineering, operations, and business functions.

Founded in 2021 by Apurwa Masook, Rounak Agrawal, and Sudarshan Samal, the company, which was incubated at the Indian Institute of Science (IISc), Bengaluru, develops rocket propulsion systems and solid propellants. It has won four contracts under the Ministry of Defence's iDEX initiative and filed 10 patents, five of which have already been granted.

All Things People

All Things People (ATP), a human resources technology startup, has raised Rs 7 crore ($0.7 million) in a seed round backed by an angel syndicate of global industry executives, family, and friends.

The round saw participation from Honasa Consumer founder and CEO Varun Alagh, Blackstone executive Amit Dalmia, Unilever executive Alex von Behr, and several other executives.

The company said the funds will be used to expand its first product offering, atp|reflect, and strengthen its capabilities in advanced analytics, and actionable insights.

The startup also plans to focus on building technological infrastructure, and expanding marketing reach, sales efforts, and strategic partnerships to enter new industries and geographies. It will expand its workforce across technology, product, sales, and customer success teams.

Founded in 2024 by Anish Singh, Kshitij Jain, and Shashank Shekhar, ATP provides scalable, personalized solutions to help organizations attract, engage, and grow talent.

Tesla Power Equipments and Projects

Tesla Power Equipments and Projects has secured Rs 25 crore in a pre-IPO round led by Steptrade Capital's debut Category-II alternative investment fund (AIF), Chanakya Opportunities Fund I. The fund contributed about 22% of the total fundraise, Steptrade said in a statement.

With the deal, the SME-exchange-focused fund has now deployed more than Rs 55 crore across private companies in the energy transition space. Managed by Kresha Gupta and Ankush Jain, Chanakya Opportunities Fund I focuses on sectors such as renewable energy, infrastructure, power and energy, waste management, and defence.

Tesla Power said it will use the funds to expand manufacturing and strengthen its supply chain in the clean energy space.

Founded in 2004 by Jaideep Jain, Tesla Power manufactures, supplies, and commissions power transformers, distribution transformers, and inverter-duty transformers (IDTs) for solar and wind projects. It has two plants in Bhopal and Mandideep with a combined capacity of 8,000 MVA. It serves clients such as Adani Green, Tata, and NTPC, as well as government contracts.

OnFinance AI

OnFinance AI has raised $4.2 million in a pre-Series A round led by Peak XV's Surge, with participation from investors and operators such as OpenAI executive Shyamal Hitesh Anadkat, Groww Founders' Fund, MarsShot VC, Climber Capital, and existing investors Indian Angel Network (IAN) and Silverneedle Ventures (SNV).

The startup said it will use the funds to expand its proprietary BFSI-focused AI models, accelerate R&D and hiring in engineering and AI research, and extend its reach to new international markets.

Headquartered in Bengaluru, the generative AI platform for the BFSI sector was founded in 2023 by Anuj Srivastava and Priyesh Srivastava. Its flagship platform, ComplianceOS, is powered by NeoGPT, a BFSI-specific large language model built on more than 300 million tokens of regulatory data across SEBI, RBI, IRDAI, and AMFI publications. ComplianceOS hosts a suite of more than 70 regulatory AI agents that can interpret regulations, assign tasks, track deadlines, and generate audit-ready evidence in real time.

The startup also has the InvestigativeOS platform, which delivers deeper, specialized compliance and risk capabilities, including KYC compliance, CSCRF (cyber security and resilience framework) compliance, accessibility compliance mandated under SEBI's PwD rules, vendor risk assessment, and market abuse compliance AI for surveillance of insider trading, front-running, and manipulative behaviors.

India Accelerator - MySOHO

India Accelerator (IA) has struck a deal to buy co-working venture MySOHO to build a holistic operating system for India's startups. The transaction consists of cash and equity. Other terms of the deal were not disclosed.

Currently, MySOHO operates 18 centers across eight cities, offering over 90,000 sq ft of workspace, with 1,800 desks at about 90% occupancy. These centres will now be integrated into IA Spaces, the startup accelerator's physical extension of India Accelerator's ecosystem.

"By combining MySOHO's infrastructure with IA's intellectual and financial capital, the accelerator is creating city-level catchment hubs to discover, support, and scale early-stage startups," IA said in a statement.

Published by HT Digital Content Services with permission from VC Circle.