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Athera Venture Partners Secures Major Investment from HDFC AMC

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Athera Venture Partners Secures Major Investment from HDFC AMC

Athera Venture Partners, a prominent tech-focused venture capital firm, has successfully secured a substantial investment from HDFC Asset Management Company (AMC’s) Select AIF FoF I Scheme for its upcoming Fund IV. This strategic move strengthens Athera’s position as a leading investor in India’s burgeoning startup ecosystem.

Key Highlights

  • Significant Investment: HDFC AMC’s investment will play a major role in Athera’s Fund IV, which is targeting a corpus of ₹900 crore (approximately $108 million). This funding will enable Athera to expand its portfolio and support emerging startups.
  • Focus on Tech-Driven Startups: Athera will continue to invest in promising startups operating in sectors such as Consumer Internet, Enterprise Software, Artificial Intelligence (AI), and other emerging technologies. The firm aims to identify and nurture innovative companies that have the potential to disrupt traditional industries.
  • Strong Investment Track Record: Athera has a proven history of backing successful startups, including notable names like redBus, PolicyBazaar, and Pixxel. This track record demonstrates the firm’s ability to identify high-potential ventures and provide them with the necessary resources for growth.
  • Founder-First Approach: Athera is committed to supporting ambitious founders by providing them with the necessary resources and mentorship to scale their businesses effectively. This founder-centric philosophy is central to Athera’s investment strategy.

Athera’s Vision for the Future

With the backing of HDFC AMC, Athera is well-positioned to capitalize on India’s growing startup ecosystem. The firm aims to identify and nurture the next generation of innovative companies that can create significant value across various sectors.

By providing strategic guidance, capital, and operational expertise, Athera empowers entrepreneurs to build sustainable and scalable businesses. The firm’s long-term commitment to its portfolio companies and its strong network of industry leaders contribute to its success.

Recent Developments

Athera Venture Partners recently launched its Fund IV following a rebranding from Inventus Capital in May 2022. The firm has already backed six startups through this fund, including:

  • Clickpost: A logistics platform.
  • CynLr: A robotics startup.
  • Ati Motors: An autonomous electric vehicle manufacturer.
  • Terra: A gaming firm.
  • Hyprbots: An AI finance startup.
  • Billion Hearts: A consumer tech startup founded by Koo co-founder Mayank Bidwatka.

The fund focuses on seed and Series A deals, looking to invest between ₹5 crore to ₹25 crore in 16 to 18 companies over the next 18 to 24 months.

Conclusion

The collaboration between Athera Venture Partners and HDFC AMC underscores the growing trend of domestic capital flowing into India’s venture capital space. As more local investors recognize the potential of homegrown startups, firms like Athera are poised to play a critical role in fostering innovation and driving economic growth in India. With a strong investment strategy focused on technology-driven sectors and a commitment to supporting founders, Athera Venture Partners is well-equipped to navigate the evolving landscape of the Indian startup ecosystem.

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Pune’s SuperGaming Secures $15M to Expand in Emerging Markets

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Super Gaming

SuperGaming, the Pune-based gaming innovator known for hit titles like MaskGun and Indus Battle Royale, has raised $15 million in a Series B funding round, boosting its valuation to an impressive $100 million. This marks a nearly fivefold increase from its 2021 valuation of $21 million, highlighting the company’s rapid growth and the rising investor confidence in India’s booming gaming industry. The funding reflects SuperGaming’s strong market presence and strategic vision to become a global leader in online gaming. 

The funding round was spearheaded by Skycatcher and Steadview Capital, with significant participation from notable international investors including a16z Speedrun, Bandai Namco O21 Fund, Neowiz, and prominent Web3 financiers such as Polygon Ventures and Sandeep Nailwal. Existing backers like AET Japan and BACE Capital also continued their support. SuperGaming aims to utilize this capital infusion to expand its footprint internationally, focusing on emerging markets. A key initiative includes launching its award-winning game, Indus Battle Royale, in Latin America through a partnership with LOUD.GG, alongside rolling out its proprietary SuperPlatform developed with Google Cloud to empower game developers worldwide, especially in resource-constrained regions. 

CEO and Co-Founder Roby John emphasized that this funding milestone is crucial in shifting India from merely a gaming consumer base to a hub for gaming innovation. By adopting a “hyper-local” strategy that tailors games to diverse cultures in underrepresented markets like the Middle East and Latin America, SuperGaming is poised for global growth. With over 200 million installs and an expanding user base, SuperGaming’s recent fundraising solidifies its position at the forefront of India’s gaming revolution, ready to make a major impact on the international stage.

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Swiggy DeskEats: Office Food Delivery Launched in 30 Cities

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Swiggy

Swiggy, India’s leading online food delivery platform, has introduced DeskEats, a unique meal delivery service specifically designed for office-goers and working professionals across 30 major cities. DeskEats aims to streamline office dining by offering a diverse, office-friendly menu, making it easier than ever for corporate employees to enjoy convenient and delicious meals right at their workplace. By simply typing “Office” or “Work” in the Swiggy app, users can unlock curated collections like Value Combos, Stress Munchies, Healthy Nibbles, and Teamwork Bites, catering to every office dining scenario—from solo meals to team lunches and quick snack breaks.

Swiggy’s DeskEats is now operational in over 7,000 tech parks and business centers, granting office workers access to nearly 700,000 menu items from over 200,000 restaurants. This vast variety ensures there’s something for everyone, addressing the growing demand for quick, tasty, and nutritious food that fits seamlessly into the busy schedules of working professionals. Early trends from DeskEats’ pilot phase show a strong preference for easy-to-eat options like chicken popcorn in Bengaluru and garlic breadsticks in Gurugram, reflecting the popularity of meals tailored for the modern workday.

Expanding upon its Corporate Rewards Program, which is already trusted by thousands of organizations, Swiggy enables companies to enhance employee wellness programs by offering food delivery, groceries, and dining benefits efficiently. With DeskEats, Swiggy reaffirms its commitment to transforming workplace dining by prioritizing variety, convenience, and user satisfaction—cementing its position as a key player in the evolution of India’s office food culture.

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Setu Builds Fintech Powerhouse Leadership Team as Pine Labs IPO Nears

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Pine Labs

Setu, the API infrastructure platform and subsidiary of Pine Labs, has significantly strengthened its leadership by appointing Prashanth Nimmagada (ex-Razorpay) as Chief Technology Officer, signaling its commitment to innovation in India’s dynamic fintech landscape. Alongside Nimmagada, Setu has welcomed other top industry talent: Vijeth Pandit (ex-Razorpay) as Chief Product Officer, Ramkumar Thirumurthi (ex-Razorpay, co-founder Actyv.ai) as Chief Revenue Officer, Nikhil Ratanpal (ex-PhonePe) as Director of Product Development, and Santosh Subramanian (ex-Yes Bank, Wibmo) as Head of Finance. These high-profile hires accompany Anand Raisinghani’s (ex-SAP India) appointment as CEO, underscoring Setu’s focus on building a strong, experienced leadership bench to drive future growth.

Setu specializes in providing API-based digital financial infrastructure for services such as UPI, bill payments, KYC, and digital signatures, while also operating as an RBI-licensed NBFC Account Aggregator. With this expanded leadership team—drawn from India’s leading fintechs—Setu is well-positioned to accelerate the development of scalable, API-driven financial solutions for banks, fintechs, and enterprises. The influx of expertise from Razorpay and PhonePe veterans will bolster Setu’s technical capabilities and strategic partnerships, ensuring it remains a key enabler in India’s rapidly maturing digital public infrastructure ecosystem.

This leadership overhaul comes as parent company Pine Labs prepares for a major IPO, aiming to raise ₹2,600 crore through a fresh share issue after turning profitable in FY25. Setu’s enhanced leadership reinforces the broader group’s ambitions for international expansion, technological innovation, and financial performance. As Setu solidifies its role at the forefront of India’s fintech evolution, the company is poised to deliver advanced financial infrastructure solutions that support the country’s growing digital economy and drive Pine Labs’ strategic momentum.

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