Founded in 2019 by Priyanka Singhal and based in Bangalore, Ammunic Systems is a leading Indian defence technology startup specializing in the design and development of advanced fuzing systems and warheads for military applications. Drawing on Priyanka’s experience with DRDO, the company is dedicated to delivering high-precision munitions, electronic fuses, thermobaric explosives, and next-generation warheads—enhancing the safety, accuracy, and effectiveness of defence systems. Ammunic Systems has already secured key partnerships with the Indian Army and Navy, leveraging AI and robotics to modernize India’s military capabilities and position itself as a pioneer in smart, autonomous weaponry.

Recently, Ammunic Systems raised $1.1 million in a crucial seed funding round, a move celebrated as a strong endorsement of India’s indigenous defence innovation sector. This capital injection will accelerate both research and development of cutting-edge military technologies and the expansion of manufacturing operations to meet the needs of India’s armed forces. The company is also committed to the ethical deployment of AI-powered defence systems, ensuring compliance with international humanitarian standards while pushing the boundaries of modern warfare technology.

This investment arrives amid India’s “Aatmanirbhar Bharat” (self-reliant India) initiative, which has significantly boosted domestic investment in defence startups. Ammunic Systems is now well-positioned to strengthen the country’s strategic autonomy, reduce reliance on foreign imports, and drive the modernization of India’s defence ecosystem. With this latest funding, Ammunic Systems is set to play a central role in advancing homegrown defence solutions, supporting India’s journey toward self-sufficiency and leadership in military technology innovation.

• Gramik, a Lucknow-based agritech startup, has secured INR 17 crore in a bridge funding round ahead of its upcoming INR 56 crore Series A raise.
• The funding round included investments via Optionally Convertible Debentures (OCDs) and Compulsorily Convertible Debentures (CCDs).
• Key investors include Sammaan Global Ventures, Money Creeper Investment, and prominent angels such as Balram Yadav (MD & CEO, Godrej Agrovet), Gev Aryaton, Irfan Alam, Nikhil Bhagat, and Salvia Siddiqui.

Gramik’s Unique Peer Commerce Model

• Founded in 2021 by Raj Yadav, Gramik empowers over 120 million small and marginal farmers in India through a technology-driven rural commerce platform.
• The startup operates a dual-channel distribution network using Village-Level Entrepreneurs (VLEs) and rural retailers to deliver high-quality agri-inputs to remote areas.
• Gramik’s full-stack platform offers demand aggregation, logistics, embedded credit, and agronomy services, ensuring last-mile delivery and support for farmers.

Expansion Plans and Future Growth

• Gramik currently operates in 12 districts, with 1,200+ active VLEs and 250+ rural retail partners, and plans to expand to 3,000 VLEs and reach 1 million+ farmers across Uttar Pradesh, Maharashtra, and Jammu.
• The new funds will be used to expand Gramik’s private-label products, enhance agronomy-led farmer engagement, and scale operations in key states.
• With a strong focus on supply chain efficiency, technology, and farmer advisory services, Gramik aims to become a leader in India’s $50 billion agri-input and rural commerce market.
• Backed by previous seed funding of over INR 25 crore, Gramik is set to drive innovation and inclusive growth for rural communities.

Reliance Jio Platforms, the digital and telecom powerhouse led by Mukesh Ambani, has decided to postpone its highly anticipated initial public offering (IPO), shelving plans for a 2025 listing. The IPO, which analysts valued at over $100 billion and expected to be India’s largest-ever stock market debut, will not take place this year. The company has yet to appoint bankers for the process, signaling that preparations for the public offering have not started in earnest.

According to sources close to the matter, Jio Platforms wants to give its business more time to grow before going public. The company is focusing on boosting revenues, expanding its telecom subscriber base, and scaling up its digital services—including apps, connected devices, and AI solutions—so it can achieve a higher valuation when the IPO eventually happens. Nearly 80% of Jio Platforms’ $17.6 billion annual revenue currently comes from its telecom business, Reliance Jio Infocomm, but the company is investing heavily in new digital ventures and partnerships, such as its collaboration with Nvidia on AI infrastructure.

The news of the delay impacted the market, with shares of parent company Reliance Industries falling by up to 1.8% following the announcement. Despite a strong IPO environment in India, Jio’s move is seen as a strategic decision to ensure stronger business fundamentals and a higher valuation before entering the public markets. Major investors, including Google and Meta, are said to support the decision, viewing it as a step toward long-term value creation.