Bessemer Commends India’s Startup Ecosystem with dollar 350 Million Fund Raise
Bangalore, 12th March 2025 – Bessemer Venture Partners today announced the close of $350 million in capital for its second dedicated India fund, reinforcing the firm’s long-standing commitment to backing founders in the region as they build enduring companies.
The new fund will enhance the firm’s focus on early-stage investments, across AI-enabled services and SaaS, fintech, digital health, direct-to-consumer brands, and cybersecurity. Bessemer has a long-standing history of partnering with companies early and supporting them through their growth. More than 80 percent of its investments in India over the last five years have been in early-stage companies.
Speaking on the fund raise, Vishal Gupta, Partner and Managing Director of the firm’s Bangalore office said, “This fund deepens our commitment to India’s startup ecosystem as we continue backing the next generation of entrepreneurs building technology-led businesses. We remain focused on identifying and investing in founders who are driving innovation, solving complex challenges, and building market-defining companies. Beyond providing capital, we bring deep sector expertise, a global network, and hands-on support to help founders navigate their growth journeys and scale sustainably.”
Bessemer Partner Anant Vidur Puri added, “India is at the forefront of the AI-driven transformation, with founders building domestic as well as globally-competitive businesses across enterprise software, fintech, and consumer technology. As AI adoption accelerates, we see immense opportunities for innovation, and this fund allows us to back entrepreneurs shaping the next phase of India’s digital economy.”
Bessemer first established its India presence nearly two decades ago in 2006 and has since invested in more than 80 startups in the country. The partnership’s strategy centres around being patient, long-term partners to visionary founders from the early stages. The firm has a history of taking a roadmap-driven investment approach that enables its investors to build conviction in emerging areas across industries before they become obvious, and better help founders navigate evolving industry landscapes. This approach has led Bessemer to invest early in shifts in the market like the onset of the mobile revolution, India’s digital infrastructure, and its healthcare revolution, resulting in investments such as Urban Company, Perfios, and Medi Assist.
The firm’s first dedicated India fund backed notable startups including Boldfit, MoveInSync, Pepper Content, Shopdeck, Vetic, and Zopper, while its broader portfolio includes category leaders like BigBasket, Livspace, Perfios, Swiggy, and Urban Company. The firm has also seen nine IPOs within its India portfolio.
With investment teams positioned across five countries, Bessemer is a globally integrated platform that is committed to supporting innovative startups and fostering the next generation of industry leaders
NSE Clearing Ltd Reaffirms ‘CRISIL AAA/Stable’ for 17th Year
Mumbai, 12 March 2025: NSE Clearing Limited (NSE Clearing), has received reaffirmation of its credit rating of ‘‘CRISIL AAA/Stable” from CRISIL. ‘‘CRISIL AAA/Stable” rating indicates the highest degree of strength with regards to honouring debt obligations. NSE Clearing is a wholly owned subsidiary of NSE. As per CRISIL, the rating reflects NSE Clearing’s “strategic importance to, and the strong support from, its parent, National Stock Exchange of India Ltd (NSE)”. The rating also factor in NSE Clearing’s “comfortable capital position and comprehensive risk management systems”.
CRISIL has stated that “The systems are regularly upgraded to pre-empt market failures”. CRISIL has reaffirmed the outlook for NSE Clearing as “Stable” and states that, “NSE Clearing will maintain its strong market position due to its association with NSE and will sustain its comprehensive risk management systems and adequate core SGF commensurate with the clearing volumes, over the medium term.” On an ongoing basis, NSE Clearing continues to address the risks in clearing and settlement with its stringent norms for selection of members, robust margining system, and risk-based position limits and surveillance mechanism.
PhonePe Celebrates Milestone: 600 Million Registered Users and Counting
March 12,2025:PhonePe, today announced that it has crossed 600 million (60 crore) registered users on its platform. This marks a significant milestone for the company, which will celebrate its 10-year anniversary this year, and has grown to serve hundreds of millions of customers with its financial services and technology solutions.
PhonePe’s consistent enhancement of its product and service offerings, combined with growing customer preference for the platform, has contributed to reaching this milestone. The company’s development of a secure payment system focused on reliability, speed, and personalized transaction experiences has gained traction among millions of users. This growth can also be attributed to PhonePe’s widespread adoption across its merchant network throughout the country, creating a robust digital payment ecosystem that serves both consumers and businesses alike.
Speaking about the milestone, Sameer Nigam, Co-founder & CEO, of PhonePe said, “Reaching 60 crore registered users is a proud moment for all of us at PhonePe. Every milestone we achieve brings us a step closer to realizing our vision of building a truly inclusive financial ecosystem. We will continue building homegrown solutions to meet the evolving needs of our users and help drive India’s digital transformation.”
Wockhardt Mira Road Achieves 50 Kidney Transplants First ABO Swap
Mumbai, 12th March 2025: In a significant development that could improve quality of life of people suffering from kidney related ailments, a team of Nephrologists, Urologists and Transplant Surgeons headed by Dr Puneet Bhuwania, Consultant Nephrologist & Transplant Physician at Wockhardt Hospitals, Mira Road successfully performed the first Swap Kidney Transplant that saved two precious lives.
This accomplishment coincides with the Hospital achieving a remarkable milestone of completing 50 successful kidney transplants, demonstrating Wockhardt Mira Road’s expertise and excellence in Nephrology and Kidney Transplantation. The Hospital’s first Swap Kidney Transplant was successfully conducted on two blood group incompatible (ABO) donor-recipient pairs matched through kidney-paired donation. The first pair, a wife aged 52 (B) and husband aged 58 (A) as well as the second pair of a mother age 56 (A) and her daughter aged 30 (B) had incompatible blood groups. However, through a paired exchange, wife (B) from the first pair ended up donating to daughter (B) in the second pair, while the mother (A) from the second pair donated to husband (A) in the first pair.
Terming the swap kidney transplant as a ray of hope for families and patients, Dr Puneet Bhuwania said, “For those who might otherwise get excluded from transplantation due to blood group mismatch, utilizing paired kidney exchange overcomes the traditional barriers of ABO mismatch and expands the living donor pool that offers patients a chance to healthier, dialysis free life. Each of the 50 transplants we did represent a new lease on life for our patients. Our goal is not just to perform surgeries but to ensure long-term health and well-being through continuous post-transplant care and support.”
He further added, “The simultaneous surgeries on all four people required meticulous coordination across four operating rooms, with every member of the team working in perfect harmony. The results are rapid donor recovery, excellent recipient outcomes, and no complications highlight the safety and effectiveness of swap kidney transplants. Further, healthcare costs are reduced as long term dialysis is avoided.”
The procedure demonstrates how precision, innovation, and teamwork can converge to achieve extraordinary outcomes for patients suffering from end-stage renal disease. All the donors and recipients recovered well, with excellent graft function and no complications, and have been discharged from the Hospital. Both the donors and recipients thanked each other and the team of doctors for the life-saving transplant and are recovering well.
The life saving transplant was conducted by a team headed Dr Puneet Bhuwania, Consultant Nephrologist and Transplant Physician along with Dr. Jayesh Dhabalia, Consultant Transplant Surgeon, Dr. Pradeep Vyavahare, Consultant Urologist, Transplant & Robotic Surgeon, Dr Prakash Tejwani, Consultant Urologist & Transplant Surgeon and Dr Ashutosh Baghel, Consultant Urologist, Andrologist and Renal Transplant Surgeon
Urology and Renal Transplant Team, emphasized the importance of early detection and awareness, stating, “Timely diagnosis and intervention are key to improving kidney health. All the successful transplants and especially the first swap kidney transplant motivate us to further our mission of providing world-class nephrology care.”
The hospital’s expert team of nephrologists, urologists, and transplant surgeons has played a pivotal role in ensuring safe and effective transplants, improving patient outcomes, and enhancing quality of life. The success rate of these procedures underscores Wockhardt Hospital’s advanced infrastructure, cutting-edge technology, and patient-centered care.
Dr. Pankaj Dhamija, Centre Head, Wockhardt Hospitals, Mira Raod added “Wockhardt Hospital remains at the forefront of swap kidney transplants, minimally invasive procedures, and comprehensive renal care, reinforcing its position as a leader in the field. The hospital continues to drive awareness on the prevention and management of kidney disease, encouraging patients to seek timely medical attention.”
MatCare: Indira IVF’s Foray into Maternity and Child Healthcare
12 March 2025, Mumbai: Indira IVF has announced its foray into maternity and child healthcare with the launch of MatCare Maternity & Child Hospital in Varanasi. This marks an expansion within the core offering of reproductive care, highlighting Indira IVF’s commitment to providing high-quality, integrated services that comprehensively address the needs of families. The hospital is designed to provide expertise, advanced infrastructure, critical neonatal care (Level III NICU), and personalized care under one roof for expectant mothers, newborns, and high-risk pregnancies.
With the launch of its first hospital in Varanasi, Matcare Wellness Private Limited – a wholly owned subsidiary of Indira IVF Hospital Limited expands functioning in mother & child healthcare.
Equipped with advanced delivery rooms, modern operating theatres, and a Level III Neonatal Intensive Care Unit (NICU), MatCare is designed to provide seamless, end-to-end care from pregnancy to childbirth and beyond. Additionally, the facility will offer high-risk pregnancy management, minimally invasive gynaecological surgeries, neonatal surgical interventions, foetal medicine services, and postnatal rehabilitation, ensuring that mothers and newborns receive comprehensive, expert-led medical attention.
Speaking on the launch, Dr Kshitiz Murdia, Whole Time Director and CEO of Indira IVF, said, “Maternity care is an inclusive process that goes beyond childbirth, it is about ensuring the holistic well-being of both mother and child at every stage. Built on the principle that every mother and new-born deserves expert-led, compassionate care, MatCare brings together advanced medical technology and a highly specialized team of paediatricians, gynaecologists, obstetricians, neonatologists, and foetal medicine experts to set new benchmarks in maternity and neonatal healthcare. Our goal is not just to provide treatment but to create a supportive ecosystem where families feel confident, reassured, and empowered throughout their journey into parenthood and beyond.”
The hospital has been designed to provide high-quality treatment and critical care, offering 24/7 laboratory services, an in-house pharmacy, physiotherapy, lactation counselling, and a neonatal retrieval transport system, reinforcing its commitment to seamless, patient-centric care.
MatCare Maternity & Child Hospital aims to bridge critical gaps in maternity and neonatal healthcare, making high-quality, specialized care more accessible to families across India. By prioritizing Tier 2 and Tier 3 cities, where access to advanced maternal and neonatal services remains largely unmet, MatCare brings medical expertise and infrastructure to these regions, providing more families with the care they deserve.