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GVFL Leads ₹36 Crore Funding in Aditi Toys to Boost India’s Toy Manufacturing

GVFL, one of India’s pioneering venture capital firms, has led a Rs 36 crore funding round in Aditi Toys Pvt. Ltd. This reaffirms GVFL’s focus on backing high-potential manufacturing and consumer brands from India.

The round, which also drew participation from family and friends of the founders, will support Aditi Toys’ next phase of growth, focusing on product innovation and market expansion across India and key global markets.

Founded in 2015 by Subhash Zala and Arvind Zala in Rajkot, Aditi Toys has evolved from a small partnership firm into a fully integrated toy manufacturer with one of India’s largest toy facilities under a single roof. The company designs and manufactures plastic, die-cast, electric, STEM, silicone, wooden, and ride-on toys, with a strong focus on safety, innovation, and smart learning.

Aditi Toys currently serves over 150 distributors and 15,000 retailers, with presence across general trade, modern trade, e-commerce, and its own D2C channels under its flagship brand ‘Chanak – The Smartest Kid’.

“Aditi Toys has demonstrated strong execution in integrated manufacturing, quality, and distribution, and we believe the company is well-positioned to become a leading Indian toy brand in the premium segment while reducing the country’s dependence on imported toys,” said Mihir Joshi, managing director of GVFL.

The company founders, Subhash Zala and Arvind Zala, stated: “The investment by GVFL validates our ten-year commitment to developing world-class infrastructure and distribution. Now, we look forward to accelerating innovation in premium and export categories while reducing India’s reliance on imported toys.”

Voltagen Innovator Newtrace Raises $6.3M to Cut Green Hydrogen Costs

Newtrace, a deeptech startup developing high-performance electrode and electrolyzer technology for green hydrogen production, has raised ₹56.93 crore ($6.3 million) in its Pre-Series A round, led by HDFC Bank Limited and MITSUI SUMITOMO INSURANCE Venture Capital, with participation from Peak XV’s Surge, Aavishkaar Capital, Speciale Invest, Micelio Technology Fund, and angel investors Manish Prataprai Gandhi and Renu Manish Gandhi.

Green hydrogen is emerging as a critical pillar of global decarbonization and is the only scalable clean fuel capable of replacing fossil fuels across sectors such as steel, refining, fertilizers, chemicals, and heavy transport. The global green hydrogen market is projected to reach $38.1 billion by 2029 and expand to $1.4 trillion annually by 2050. Yet today, less than 1 percent of the world’s hydrogen is green, with high costs remaining the biggest barrier.

Green hydrogen currently costs $4 to $10 per kilogram, more than double the cost of conventional grey hydrogen. A significant portion of this cost and inefficiency originates in the electrolyzer stack, particularly the electrode, where most performance losses occur.

At the same time, India’s National Green Hydrogen Mission has set a target of producing 5 million metric tonnes of green hydrogen annually by 2030, supported by ₹19,744 crore in government incentives. However, India currently lacks a domestic supply of high-performance electrolyzer electrodes, creating both a strategic vulnerability and a major opportunity for indigenous innovation.

Founded in 2021 and headquartered in Bengaluru, Newtrace has developed Voltagen, a proprietary advanced electrode technology designed for alkaline water electrolyzers. Voltagen improves energy efficiency, extends system lifetime, and reduces overall hydrogen production costs. Designed as a drop-in replacement for existing electrodes, Voltagen enables electrolyzer manufacturers and hydrogen producers to upgrade performance without redesigning their systems. Newtrace has also commercialized membraneless electrolyzer technology as part of its broader platform.

Newtrace primarily serves electrolyzer OEMs, green hydrogen project developers, and industrial gas companies. Its technology is positioned to support India’s rapidly expanding electrolyzer manufacturing ecosystem, as well as global customers seeking higher efficiency and more reliable supply chains.

Voltagen is built on three core technology pillars: a high-performance catalytic architecture engineered at the micro and nanoscale to improve efficiency, a durable coating system that ensures long operating life under industrial conditions, and a scalable manufacturing process designed for commercial production. These innovations reduce energy consumption per kilogram of hydrogen produced, extend electrode life, and create a domestically available alternative to imported components.

Newtrace was founded by Prasanta Sarkar and Rochan Sinha, who bring deep expertise in electrochemistry, materials science, and industrial scale-up. The company operates from a 30,000 square foot technology center in Bengaluru and is supported by a multidisciplinary team of more than 45 engineers and scientists. It holds multiple patent applications and has received recognition under India’s National Green Hydrogen Mission. The company has also presented its technology to global audiences, including a showcase before Narendra Modi during National Startup Day 2026.

Newtrace Team 

“Green hydrogen’s cost problem is fundamentally a materials and manufacturing challenge,” said Prasanta Sarkar, CEO and Co-Founder of Newtrace. “Voltagen represents a new materials foundation that enables the efficiency and durability required to make green hydrogen cost competitive. This funding allows us to transition from proving the science to scaling manufacturing.”

“We built Newtrace to address the most critical and underinvested component of the electrolyzer stack,” said Rochan Sinha, CTO and Co-Founder of Newtrace. “Our focus now is on translating our technology into reliable, scalable manufacturing that can serve the global hydrogen economy.”

The newly raised capital will support pilot-scale manufacturing, customer validation and supply agreements, and expansion of manufacturing and engineering capabilities. Newtrace expects to begin initial commercial deliveries of Voltagen electrodes within the next 12 months.

About Newtrace:

Newtrace is a climate-tech startup developing and commercializing advanced electrode & stack technology for hydrogen electrolyzers . The vision we swear by is simple - to decarbonize the world through innovation, leaving a cleaner, greener, sustainable future for generations to come. By engineering high-performance electrodes at scale, Newtrace is working to make green hydrogen production economically viable and accelerate the global transition to clean energy. The company combines deep expertise in electrochemistry with scalable manufacturing to address one of the critical cost barriers in the hydrogen economy.

Capgemini to Acquire Piterion, Expanding Global PLM & MOM Expertise

• Piterion will reinforce Capgemini’s global product lifecycle management (PLM) capabilities, including agent-based tailored solutions to optimize clients’ product lifecycles at scale

Capgemini has signed an agreement to acquire Piterion, a leading independent product lifecycle management (PLM) and Manufacturing Operations Management (MOM) specialist. With a strong track record in interconnecting critical manufacturing systems and operating some of the most complex PLM landscapes, Piterion brings deep expertise that will significantly enhance Capgemini’s ability to deliver tailored, industry‑ready solutions.

Piterion’s PLM and MOM capabilities will help accelerate clients’ transitions from on-premise infrastructures to cloud-native environments, while Capgemini’s AI-driven analytics and generative AI models will unlock new levels of agility. Together, these strengths will help clients achieve faster time‑to‑market, increased engineering and manufacturing cost efficiency, and greater overall operational responsiveness. The acquisition is expected to close in the coming months, subject to regulatory approvals and other customary conditions for a transaction of this nature.

Founded in 2004 and headquartered in Stuttgart, Germany, Piterion operates subsidiaries in Italy, Tunisia and India. By integrating mechanical, electronic, and software engineering, its 200+ team supports a roster of blue-chip clients across consumer and commercial automotive, aerospace and defense, life sciences, and hi-tech - sectors in which Capgemini is also deeply active.

Piterion focuses on designing and managing complex engineering application environments to improve manufacturing processes and achieve greater efficiency, traceability and reliability. It specializes in industrial digitalization, notably PLM, and the interconnectivity of systems for manufacturing execution, manufacturing operations management and enterprise resource planning. The team also leverages advanced cloud infrastructure, to transform innovative concepts into reality and embeds AI into its own-developed accelerators such as a data migration platform, 3D visualization, and a deployment framework.

“Clients are increasingly looking to optimize their industrial engineering processes through digitalization and AI. Piterion is a leading player in product lifecycle management and manufacturing operations management across the complex, multi-layered landscapes of global organizations,” comments Dr Michael Schulte, CEO of Capgemini Engineering and Group Executive Board Member at Capgemini. “With its strong German footprint and international delivery capabilities, the acquisition of Piterion will strengthen Capgemini’s global PLM practice, expand our agent-based solution offerings, deepen strategic client relationships, and help accelerate growth - particularly in sectors where product and manufacturing expertise matter most.”

“Along with world class industrial manufacturing expertise, we are supporting clients in similar sectors to Capgemini and our respective partnership ecosystems are highly complementary, making the Group a natural fit for Piterion,” said Ravi Nirankari, Co-Founder of Piterion. “Capgemini’s global scale and breadth of offerings will provide many varied projects and growth opportunities for our team members. We share the core values of Capgemini and are very excited at the prospect of joining the Group.”

Tata Power & Tamil Nadu Govt Partner to Scale Neurodiversity Inclusion Systems

In a decisive step toward building structured and scalable neurodiversity inclusion systems, Tata Power Community Development Trust (TPCDT) has signed a Memorandum of Understanding (MoU) with the Commissionerate for Welfare of the Differently Abled (CWDA), Government of Tamil Nadu. The partnership will strengthen the Tamil Nadu Rights (TN RIGHTS) programme under Tata Power’s flagship initiative Pay Autention.

Neurodiversity is the concept that neurological differences—such as autism, ADHD, dyslexia, and other conditions—are natural variations of the human brain, not deficits or disorders. It emphasizes acceptance, inclusion, and recognition of diverse ways of thinking, learning, and interacting.  

The collaboration is designed to build an integrated ecosystem that strengthens frontline capacity, enhances service delivery through technology-enabled systems, and exposure for industry-aligned livelihood pathways for Persons with Disabilities (PwDs). Over the next three years, the initiative will focus on structured training, community-based neurodiversity care models, and scalable interventions across districts in Tamil Nadu.

The MoU was signed by Tmt. M. Lakshmi, IAS, State Commissioner for Welfare of the Differently Abled, Government of Tamil Nadu, and Mr. Himal Tewari, CHRO and Chief Sustainability Officer, Tata Power and Chairperson, Tata Power Community Development Trust, in the presence of senior leadership from both institutions.

As part of the partnership, TPCDT will strengthen programme architecture, develop an open-source LMS, structured training modules, conduct Training of Trainers (ToT) programmes, integrate technology-enabled solutions, home-based care models, while also creating industry-aligned volunteering ecosystems that offer wider exposure and essential life skills within the TN RIGHTS framework. The initiative will also pilot community-based neurodiversity care models and structured home-based therapy support, creating systems that can be institutionalised within government delivery mechanisms.

Speaking on the occasion, Mr. Himal Tewari, CHRO and Chief Sustainability Officer, Tata Power, said: “At Tata Power, we believe that inclusion should not depend on isolated initiatives, but must be embedded within the systems that shape everyday lives. Through Pay Autention, we have been building structured ecosystems that support awareness, early intervention, skills, and exposure opportunities for neurodiverse individuals. Our partnership with the Government of Tamil Nadu under the TN RIGHTS programme is an important step toward creating sustainable public frameworks that ensure neurodiverse individuals can thrive with dignity, independence, and opportunity.”

Smt. M. Lakshmi, IAS, State Commissioner for Welfare of the Differently Abled, Government of Tamil Nadu, stated: “The TN RIGHTS programme reflects the Government of Tamil Nadu’s commitment to inclusion and dignity for Persons with Disabilities. We are pleased to partner with Tata Power Community Development Trust in this initiative. This partnership reflects a common vision to strengthen social care services for all disabilities, with special attention towards neurodiversity, and community-based services through capacity building, technology integration, and innovative approaches. Our objective is to strengthen solutions that are sustainable, scalable, and responsive to the needs of Persons with Disabilities.”

Through its flagship Pay Autention initiative, Tata Power Community Development Trust continues to build structured ecosystems that advance dignity, life skills development, and social participation for neurodiverse individuals creating measurable and sustainable impact across communities.

The initiative reflects Tata Power’s sustained commitment to social equity through its Pay Autention program, which advances awareness, early diagnosis, caregiver support, inclusive education, skill development, and workplace integration for neurodiverse individuals. Supported by a network of over 20+ nodal organizations, subject matter experts, and the E-Sanidhya platform developed in collaboration with the Ministry of Social Justice and Empowerment and Tata Elxsi, the initiative has reached more than 30,000 individuals and families, creating meaningful impact across underserved communities.