Indian education technology startup Mesa School of Business has raised ₹110 crore (approximately $12.7 million) in a Series A funding round co-led by Dharana Capital and existing investor Elevation Capital. The financing comprises ₹85 crore in equity and ₹25 crore in venture debt provided by InnoVen Capital and Alteria Capital.

The investment values Mesa at ₹385 crore following the round. The company plans to use the capital to integrate artificial intelligence into its educational programmes, introduce new courses, expand its leadership team and strengthen relationships with startups to provide students with practical industry experience.

Founded in 2023 by Ankit Agarwal and Varun Limaye, Mesa School of Business focuses on entrepreneurship, startup leadership and applied business education. The Bengaluru-based institution currently serves more than 550 students across three full-time programmes designed to prepare graduates for careers in startups and technology-driven businesses.

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Mesa School of Business Secures $12.7M Series A Funding

The ₹110 crore financing round combines equity investment from Dharana Capital and Elevation Capital with venture debt from InnoVen Capital and Alteria Capital.

Of the total amount, ₹85 crore was raised through equity financing, while the remaining ₹25 crore was secured as venture debt. The investment brings Mesa’s post-money valuation to ₹385 crore.

The institution is also backed by several Indian startup founders, including CRED founder Kunal Shah, Meesho co-founder Vidit Aatrey, Urban Company co-founder Abhiraj Bhal and Paytm founder Vijay Shekhar Sharma.

The new capital will support Mesa’s next stage of growth as it expands its educational offerings and strengthens its position in India’s entrepreneurship-focused education market.

Expanding AI-Powered Learning and New Business Programmes

Mesa plans to integrate artificial intelligence more extensively into its existing curriculum, with a focus on preparing students to use AI tools in business operations, product development and startup creation.

The institution intends to help students develop practical capabilities in building and launching technology products using AI, reflecting changing skill requirements across startups and digital businesses.

Alongside AI integration, Mesa will introduce additional educational programmes to address emerging industry needs. The company also plans to strengthen its leadership team and expand partnerships with startups to provide students with hands-on projects and professional exposure.

Its educational approach combines classroom learning with practical business experience, aiming to prepare graduates for roles that require entrepreneurial thinking, operational skills and familiarity with technology-driven organizations.

Mesa Expands to More Than 550 Students Across Three Programmes

Mesa School of Business currently offers three full-time programmes: a one-year Post Graduate Programme in Startup Leadership, a four-year undergraduate programme in business and entrepreneurship, and Forge, a one-year programme designed for graduates.

Since launching its initial postgraduate cohort, the institution has expanded to more than 550 students across these programmes.

The courses focus on developing skills relevant to startup and business leadership positions, including product management, partnerships, account management and founders’ office roles.

According to Mesa, its first three postgraduate cohorts have produced approximately 300 alumni who have joined more than 120 startups.

The institution has also incubated more than 50 student-founded startups, which have collectively reported approximately ₹50 crore in annual revenue.

These figures reflect Mesa’s emphasis on connecting education with startup employment and entrepreneurship opportunities.

Mesa Reports 2.5x Business Growth as It Approaches Operational Breakeven

Mesa has reported business growth of approximately 2.5 times over the past two years, according to Co-Founder Ankit Agarwal.

The institution has expanded its student base and programme portfolio while developing relationships with startups that provide employment opportunities, industry projects and entrepreneurial support.

Despite this growth, Mesa has not yet reached overall profitability. The company reports that most of its programmes are approaching operational breakeven, indicating progress toward covering their direct operating costs.

The latest funding is expected to support further expansion while allowing Mesa to invest in curriculum development, faculty and leadership capabilities, and partnerships with the startup ecosystem.

Maintaining programme quality and improving operating economics will remain important as the institution increases enrolment and introduces additional educational offerings.

Mesa Targets Further Growth in India’s Startup Education Market

With $12.7 million in Series A financing, Mesa School of Business plans to expand its AI-focused learning capabilities and develop new programmes tailored to the evolving needs of startups and technology companies.

The institution will also focus on strengthening its leadership team and building deeper relationships with startup founders and businesses to provide students with practical learning opportunities.

Its growth strategy combines entrepreneurship education, industry partnerships and AI-enabled learning, with the aim of preparing graduates for emerging business and technology roles.

As Mesa continues expanding its programmes and student base, the company will seek to improve programme-level economics while maintaining its focus on applied business education and startup career development

Indian mobile gaming startup Spill Games has raised $10.5 million in a Series A funding round led by Elevation Capital, with participation from existing investors Centre Court Capital and PeerCapital. The investment will support the company’s expansion into international gaming markets and the development of its portfolio of casual, puzzle and hybrid-casual mobile games.

Founded in 2024 by Om Misra, Tapan Ranjan and Harsh Garg, all former employees of PlaySimple Games, Spill Games develops free-to-play mobile games for global audiences. Its business model combines advertising revenue with in-app purchases, while its development strategy focuses on testing multiple game concepts and scaling those that demonstrate strong commercial potential.

The latest funding will enable Spill Games to invest in promising titles, accelerate new game development, improve its AI and data analytics capabilities, expand user acquisition efforts and make selective hires to support its growth.

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Spill Games Secures $10.5M Series A Led by Elevation Capital

The $10.5 million Series A investment will help Spill Games strengthen its operations and expand its presence in international mobile gaming markets.

Elevation Capital led the financing round, joined by returning investors Centre Court Capital and PeerCapital. The company did not disclose its valuation following the investment.

Spill Games plans to allocate the funding across several priorities, including scaling existing games with strong player engagement, developing new titles and expanding its technology infrastructure.

The company will also invest in user acquisition to attract additional players and support the growth of its gaming portfolio. Selective recruitment will accompany these investments as Spill expands its development and operational capabilities.

Developing Casual and Hybrid-Casual Games for Global Markets

Spill Games specializes in casual, puzzle and hybrid-casual mobile games designed for international audiences. Its free-to-play model generates revenue through advertising and optional in-app purchases.

The company follows a portfolio-based development approach, testing multiple gaming concepts before deciding which titles should receive additional investment.

Rather than committing significant resources to every new release, Spill evaluates individual games using performance indicators such as player engagement, retention, monetization and user acquisition efficiency.

Titles demonstrating stronger growth potential receive additional development and marketing resources, while performance data informs decisions about future projects.

This approach allows Spill Games to manage development risks and focus its investments on games with the potential to attract and retain players while generating sustainable revenue.

Spill Games Doubles Portfolio of Promising Titles

Spill Games has reported progress in identifying games with the potential for profitable growth. According to the company, the number of titles meeting its internal growth criteria increased from three to six in less than three months.

The development reflects its strategy of continuously testing game concepts and evaluating player behavior before expanding individual titles.

By analyzing engagement, retention and monetization performance, Spill aims to identify which games can support additional investment in development and user acquisition.

The company intends to build on this progress by scaling its strongest-performing titles while continuing to introduce and test new gaming concepts.

Its focus remains on developing mobile games in India for international audiences, with growth decisions guided by player data and commercial performance.

Expanding AI-Powered Game Development and User Acquisition

A key priority for Spill Games is strengthening its technology capabilities through artificial intelligence and data analytics.

The company plans to use AI-driven processes to improve game development and testing efficiency, allowing its teams to evaluate new concepts and refine existing titles more quickly.

Data analytics will continue to support decisions related to gameplay, player engagement, retention and monetization, helping the studio identify opportunities for improvement across its portfolio.

The funding will also support increased user acquisition efforts as Spill seeks to expand the reach of its games in global markets.

By combining technology investment with performance-based marketing, the company aims to improve development efficiency and direct resources toward titles with stronger long-term growth prospects.

Spill Games Targets International Expansion With New Funding

With $10.5 million in Series A financing, Spill Games plans to accelerate the development of new mobile games while expanding successful titles across international markets.

The company will continue its portfolio-based strategy, using player engagement and monetization data to determine which games warrant additional investment.

Its next phase of growth will also include improvements to AI-powered development processes, broader user acquisition activities and selective hiring.

As Spill Games expands its portfolio, its strategy will focus on balancing new game development with the growth of existing titles, aiming to build a sustainable mobile gaming business serving players worldwide.

Indian biotechnology startup Peptris Technologies has secured $8.98 million in optionally convertible debt financing from the Technology Development Board (TDB), operating under India’s Department of Science and Technology (DST). The funding will support the company’s VIGOR programme, which focuses on advancing four AI-discovered drug candidates through preclinical development and toward potential clinical trials.

The VIGOR programme has a total estimated project cost of ₹172 crore (approximately $17.96 million). Over three years, Peptris aims to advance its four selected drug candidates from Technology Readiness Level 4 (TRL-4) to TRL-6 through experimental validation, formulation development and regulatory preparation.

The financial assistance is being provided through India’s Research Development and Innovation (RDI) Fund, which supports technology-intensive projects and the commercialization of research-driven innovations.

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Peptris Technologies Secures $8.98M in Convertible Debt From TDB

The $8.98 million financing will support Peptris Technologies as it works to translate AI-generated drug discoveries into candidates suitable for further clinical evaluation.

Unlike a conventional equity funding round, the financial assistance is structured as optionally convertible debt, meaning it may be converted into equity under specified conditions. The funding forms part of the company’s broader ₹172 crore VIGOR programme.

The project aims to advance four drug candidates from TRL-4 to TRL-6 within three years, a process involving laboratory validation, preclinical testing and preparation for potential clinical trials.

The TDB’s support reflects India’s broader efforts to strengthen domestic research and development capabilities in biotechnology, pharmaceuticals and AI-enabled healthcare innovation.

VIGOR Programme Targets Four Drug Candidates

Peptris’ VIGOR programme focuses on four AI-discovered drug candidates addressing different medical conditions. All four are currently at TRL-4, with further development required before they can progress toward clinical evaluation.

The candidates include PEPR111, which targets neuromuscular disorders and oncology, and PEPRX101, which focuses on alopecia, a condition associated with hair loss.

The programme also includes PEPR202, targeting neuropathy, and PEPR112, which is being developed for Duchenne muscular dystrophy (DMD), a genetic disorder affecting muscle function.

Through VIGOR, Peptris plans to conduct advanced preclinical studies, develop suitable formulations and complete investigational new drug (IND)-enabling activities. These steps are intended to generate the scientific and regulatory evidence required to support potential clinical trial applications.

Progression to clinical studies will remain subject to the results of preclinical research and applicable regulatory approvals.

Combining AI Drug Discovery With Experimental Validation

Peptris Technologies develops AI-powered tools designed to identify promising molecules and support early-stage drug discovery.

The company plans to use its proprietary platform alongside conventional pharmaceutical development processes to advance the four selected candidates. Its approach combines computational research with laboratory testing, formulation development and preclinical evaluation.

Artificial intelligence can help researchers analyze molecular information, identify potential therapeutic compounds and prioritize candidates for further investigation. However, computational predictions must undergo experimental validation before a candidate can be considered for clinical development.

To support this process, Peptris intends to collaborate with global contract research organizations (CROs) that provide specialized testing and drug development services.

These partnerships will help the company conduct the studies required to evaluate the candidates’ properties, safety and potential suitability for further development.

India’s RDI Fund Supports Biotechnology Innovation

The financing is being provided through the Research Development and Innovation Fund, with the Technology Development Board facilitating support for Peptris’ VIGOR programme.

The initiative aims to help technology-driven companies advance research projects toward commercial and practical applications, particularly in sectors requiring substantial development investment.

Drug discovery is one such field, as progressing a potential treatment from early research to clinical evaluation involves extensive testing, specialized infrastructure and regulatory requirements.

By supporting Peptris, the programme seeks to strengthen India’s capabilities in AI-assisted pharmaceutical research and the development of new therapeutic candidates.

The project also aligns with national efforts to encourage domestic biotechnology innovation and reduce barriers to advancing research-based technologies.

Peptris Targets Clinical Development Readiness Within Three Years

With $8.98 million in optionally convertible debt financing, Peptris Technologies plans to accelerate the development of its four AI-discovered drug candidates through the VIGOR programme.

The company will focus on advancing the molecules from TRL-4 to TRL-6 over three years, supported by preclinical research, experimental validation, formulation development and IND-enabling studies.

Its collaboration with global CROs will provide additional technical capabilities as it works toward the scientific and regulatory milestones required for potential clinical evaluation.

While the programme does not represent regulatory approval or the start of human clinical trials, it is intended to move the selected candidates closer to that stage.

Through VIGOR, Peptris aims to demonstrate how AI-assisted drug discovery can be combined with established pharmaceutical development processes to advance new therapeutic candidates.