Singapore-headquartered angel investment platform ThinKuvate has announced the first close of its India fund at INR 250 million. The investment comes within four months of the formal launch of the ThinKuvate India Fund — I.

The firm has made investments in four startups – Rosh.ai, Zippee, Pantherun, and NymbleUp.

Rosh.ai was founded in 2021 by Roshy John and Rajaram Moorthy. It specialises in autonomous vehicle technology, providing solutions for the automotive, seaport, and mining industries. The company has raised $1 million in Pre-Series A led by EV2 Ventures, with participation from Caret Capital and ThinKuvate.

Zippee was founded by Madhav Kasturia in 2021 and offers same-day delivery for more than 100 (D2C) brands. Zippee is scaling its operations in metro cities and expanding its brand partnership.

Founded in 2019 by Srinivas Shekar, Pantherun is a cybersecurity company specialising in advanced data protection solutions. The company has raised a bridge round led by QuickHeal Family Office and SIDBI Ventures, with participation from 8X, PiperSerica, and ThinKuvate.

NymbleUp.ai was founded in 2019 by Yogesh Bhatt & Manish Thakur. It has secured pre-series A  led by Chandigarh Angels, IVY Cap, and ThinKuvate. It provides AI-driven predictive workforce management solutions for QSRs and retail chains; forecasting demand across all sales channels at 15-minute intervals. 

ThinKuvate plans to invest in early-stage startups from seed to Series A, focusing on companies leveraging technology at the forefront.

Ghanshyam Ahuja, Managing Partner, ThinKuvate said, “We have been investing in Indian startups and saw the potential growth opportunities. That led us to launch an India-focused fund, we have reached the first milestone in little over 100 days. This validates our thesis on the next-gen innovations taking place in India, which have a global appeal.”

ThinKuvate continues to raise its target corpus, the fund plans to invest in 30 – 40 startups with an average investment size of INR 15 million to INR 40 million. The fund has also attracted top tier general partners globally, to manage the deal flow, due diligence, and overall portfolio management. More than 50 percent of investors in the fund are NRIs from various countries, top of them being Singapore, Australia, the USA, the UK, and Indonesia.

Mayank Jain, CEO, ThinKuvate, says, “We have built capabilities within our team to provide support and help to startups scale faster. The profile of limited partners, who are working professionals with senior roles in large corporates, would be a huge differentiator for the companies we back. Our vast network will not only bring in quality capital but provide access to the founders to accelerate their growth journey post funding from ThinKuvate. As we continue to raise the target corpus, we have already built a healthy deal flow and we are confident that with this fund, we will be able to build a strong portfolio and generate stellar returns for our investors.”

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MAHLE has introduced an advanced heat recovery system that enhances the efficiency of cabin heating in electric vehicles, directly addressing the challenge of reduced range in cold weather. This innovation, the MAHLE HeatX Range+, reclaims thermal energy from the vehicle's exhaust air. As interior air is expelled, it passes through the air conditioning evaporator, where its heat is transferred to the refrigerant. This captured energy is then used to preheat incoming fresh air before it enters the cabin.

This process reduces the total energy demand for the vehicle's climate control system by approximately 20 percent compared to conventional methods. In practical testing with a mid-size electric vehicle at an outside temperature of -7°C and a cabin target of 20°C, the system extended the driving range by nearly 10 kilometres. Beyond range extension, the continuous influx of fresh air maintains high interior air quality and minimises window fogging.

Engineered for seamless integration, the system has no adverse effect on airflow or acoustics. Its modular design allows manufacturers to incorporate it into existing vehicle architectures easily and cost-effectively. MAHLE developed the technology drawing on its extensive expertise in thermal management, and the current configuration for refrigerant R1234yf can be readily adapted for use with future alternative refrigerants.

Martin Wellhoeffer, Member of the MAHLE Group Management Board, responsible for the business unit Thermal and Fluid Systems, said, "Our HeatX Range+ heat recovery concept maximises the everyday practicality of electric vehicles in winter and makes a decisive contribution to further increasing the attractiveness of electric mobility.”

Dr Uli Christian Blessing, Vice President – R&D Thermal and Fluid Systems, MAHLE, said, "As early as the 1990s, MAHLE introduced the '’Economizer'’, the first cabin heat recovery system concept for passenger and commercial vehicles, thereby pioneering today’s trend towards efficient cabin climate control.”

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Tata Technologies has announced that its battery intelligence platform, WATTSync, is now equipped to meet India’s upcoming Battery Aadhaar requirements. The digital identity and traceability framework aligns with the EU Battery Regulation (EU BR 2023/1542).

The platform supports India’s mandated 21-character Battery Pack Aadhaar Number (BPAN), which allows manufacturers to manage identifiers across production, operations and recycling workflows.

WATTSync utilises a QR-code-enabled identity engine to provide access to both static and dynamic battery data. The system manages manufacturer identifiers, material composition, chemistry and battery carbon footprint (BCF).

To meet mandates for dynamic data, the platform integrates with Battery Management Systems (BMS) to track – State of Health (SoH), charge-discharge cycles, thermal events and operational parameters.

The architecture is cloud-ready and supports API-based data exchange with government-authorised central servers, ensuring traceability across the supply chain.

The platform includes Role-Based Access Control (RBAC) to provide structured data views for suppliers, operators, and regulators. Additionally, AI-driven analytics are used for predictive maintenance, including thermal anomaly detection and Remaining Useful Life (RUL) estimation.

For manufacturers under the ACC-PLI scheme, WATTSync provides provenance documentation to verify cell origin. The platform also tracks recovered materials and carbon footprints to support circular economy objectives and recycling chain mandates in both India and the EU.

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Chinese technology company Pony.ai has announced that the first mass-produced bZ4X Robotaxi, developed in partnership with Toyota, has rolled off the production line. This marks the transition to scaled production and commercial deployment for the collaboration.

The partners plan to produce over 1,000 bZ4X units in 2026. These vehicles will be introduced into commercial services across Tier 1 cities in China, supporting Pony.ai's objective to expand its fleet to over 3,000 vehicles by the end of the year.

The bZ4X Robotaxi is equipped with Pony.ai’s seventh-generation (Gen-7) autonomous driving system. Key features of the hardware include:

• Automotive-Grade Components: 100 percent of the core components meet automotive standards.
• Cost Efficiency: The bill of materials (BOM) cost for the autonomous driving kit has been reduced by 70 percent compared to the previous generation.
• User Features: The system includes Bluetooth unlocking, in-cabin voice interaction, and climate control, with software tuning to reduce motion sickness through refined acceleration and braking.

The vehicle was developed by Pony.ai, Toyota Motor China and GAC Toyota, with production managed by GAC Toyota. The assembly process integrates the Toyota Production System (TPS) and adheres to Toyota’s Quality, Durability and Reliability (QDR) principles. Dedicated systems for quality and safety management have been established to support large-scale operations.

The collaboration between Pony.ai and Toyota began in 2019. Since then, the companies have established a joint venture focused on Robotaxi design and manufacturing. This milestone follows the launch of other Gen-7 models that entered commercial service in November last year.

The partners stated that this production milestone demonstrates a pathway for autonomous technology to move from limited validation to mass production.

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IIT Madras Research Park (IITMRP) and Unicorn India Ventures have partnered to launch an INR 6 billion fund christened - IITM Unicorn Frontier Fund I - dedicated to deep tech startups. The initiative includes an additional INR 4 billion greenshoe option, bringing the total potential corpus to INR 10 billion.

Unicorn India Ventures will act as the fund manager, with the fund aimed to build a portfolio of over 25 companies involved in intellectual property (IP)-led and engineering-heavy sectors, including robotics, space technology, defence, semiconductors and medical technology.

The fund will employ a multi-stage investment approach based on Technology Readiness Levels (TRL):

• Early Stage (TRL 3–4): Initial investments of INR 80 million to INR 100 million to assist innovations through commercialisation hurdles.
• Early Mid-Stage (TRL 5–7): Follow-on capital to support the development of technologies with proven concepts.
• Early Late-Stage (TRL 7–9): Support for companies with proven product technology requiring scale-up and market penetration.

To manage the long gestation periods associated with deep tech, 60 percent of the corpus is allocated for the initial portfolio, while 40 percent is reserved for follow-on rounds to provide patient capital.

Dr Kamakoti Veezhinathan, Director of IIT Madras, said, “Science and technology will play a crucial role in the growth story and towards India becoming Viksit Bharat 2047, focusing on technology sovereignty, AI, semiconductors, defencetech and quantum technology. The need of the hour to reduce reliance on technology imports and strengthen indigenous capabilities. IIT Madras has been in forefront of this wave for over a decade and this Fund is the next logical step for us.”

Natarajan Malupillai, Group CEO of IITM Research Park, added, “India’s deep-tech ecosystem is at a pivotal moment, driven by supportive policies, sustained R&D investments, and a strong entrepreneurial aspiration among our youth. This fund will accelerate the scale-up of mission-driven, globally competitive startups while strengthening India’s culture of innovation & entrepreneurship. We are pleased to partner with Unicorn India Ventures to advance India’s deep-tech leadership—imagining, designing, and building in India for the world.”

Bhaskar Majumdar, Managing Partner of Unicorn India Ventures, said, “It is an honour to be selected by IITM & IITMRP, which have been the backbone of deep tech innovation in India. With our proven understanding of deep tech, we believe we have the resources and the network to support early-stage deep tech companies. As an active deep tech investor, we have already built a portfolio of nearly 30 companies and this new fund in partnership with IITMRP comes at the right time as we have met numerous innovative deep tech companies in the last 2 years.”

A portion of the portfolio will be sourced from the IIT Madras ecosystem, with the remainder selected from the broader Indian deep tech landscape. The fund manager will raise the corpus from IIT Madras alumni and a network of limited partners, including family offices, ultra-high-net-worth individuals and institutions.

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