Coram AI Secures $35M Series B to Transform Physical Security with AI, Expands India Engineering Hub

• The company has quadrupled revenue and tripled its customer base in the past year and plans to expand engineering hiring in India as it builds AI agents for security operations

Coram AI, the AI-native physical security platform co-founded by IIT Delhi alumnus Ashesh Jain, announced it has raised $35 million in Series B funding, bringing its total capital raised to $66 million. The round was co-led by Ansa Capital and Battery Ventures, with participation from UP.Partners, 8VC, and Mosaic Ventures.

The funding comes amid rapid growth for the company, which has achieved a 4x increase in revenue and tripled its customer base since raising its $13.8 million Series A last year, as organizations increasingly adopt AI to modernize security operations. Coram will use the new capital to accelerate AI product development, expand go-to-market teams, strengthen customer success, and grow its engineering presence in India.

Modern physical security teams face increased threats, fewer staff, and more systems to keep track of. Most software is siloed and requires on-site monitoring to be effective. Video, access control, visitor logs, and emergency response sit in separate tools, so investigating one incident means stitching them together by hand. Coram centralizes those workflows in a single AI platform, without requiring teams to replace the cameras and infrastructure they already own.

Coram AI was co-founded by Ashesh Jain, former head of autonomy for Lyft’s self-driving division and an engineering leader at Zoox (IIT Delhi alum and PhD in Computer Science from Cornell University), alongside Peter Ondruska, head of AI research at Lyft and then Toyota’s Woven division after Toyota acquired Lyft’s self-driving technology in 2021. After years of building AI systems that help vehicles understand the physical world and prevent accidents before they happen, they saw an opportunity to bring the same advances in AI perception and decision-making to physical security, an industry that remains heavily dependent on manual monitoring and fragmented software despite growing operational complexity and risk.

"Most security systems just record what happened. Only later, after a manual search, might you find the incident," said Ashesh Jain, co-founder and CEO of Coram AI. "We spent years building AI that helps cars read a scene and act before someone gets hurt. The same approach protects the places people live and work: catch risks earlier, and keep schools, hospitals, and workplaces safer instead of just documenting what went wrong."

"Physical security is one of the largest industries yet to be transformed by modern AI," said Allan Jean-Baptiste, co-founder and managing partner at Ansa Capital and Coram board member. "Coram's founders bring a rare combination of frontier AI expertise and deep conviction about where the market is headed. Their rapid growth demonstrates that organizations are looking for more than cameras and monitoring tools. They want intelligence that helps them operate more safely, efficiently, and proactively."

"Coram AI's hardware-enabled software anchors intelligence in first-party data to deliver capabilities far beyond what traditional security systems can offer," said Marcus Ryu, general partner at Battery Ventures and a board member at Coram. "We're enthusiastic to deepen our partnership with the Coram team with this Series B investment."

The market response has been strong. More than 1,500 sites across the U.S. and Canada, including Fortune 500 companies, 1-800-GOT-JUNK?, Hershey's Ice Cream, World YMCA, Lakepointe Church, major school districts, healthcare providers, manufacturers, and municipalities rely on Coram to modernize security operations using infrastructure they already own.

As part of its continued investment in AI-powered security operations, Coram is introducing Deep Investigation. The capability moves beyond text-based video search to autonomous security agents that can analyze video, access events, and visitor activity across cameras, locations, and time, answering complex security and operational questions with evidence attached. AI coding agents have already reshaped software engineering, and Coram is bringing the same shift to physical security. Investigations that took hours or weeks now take minutes, so one security professional can investigate more, respond faster, and protect more people without adding staff.

The company also plans to expand its engineering team in its Bengaluru office, hiring across AI, software engineering, and product development functions. Coram views India as a key hub for building next-generation AI technologies that power its global platform.

Strong customer adoption continues to validate the company’s approach. Hershey's Ice Cream uses Coram across facilities that produce millions of gallons of ice cream annually for nationwide distribution.

"Coram's AI capabilities mean there is no live person required to watch footage all day. The system works in the background, so our staff can focus on their actual jobs,” said IT director Stephen Hoffer. "It's one of the best investments we've made in food safety and employee safety across our properties," added Zach Waite, the company's VP of production development.

Coram is hiring across sales, marketing, engineering, and AI research. View open roles at www.coram.ai/careers.

About Coram AI

Coram AI is an AI-native physical security platform that helps organizations investigate incidents faster, improve operational visibility, and coordinate response across video security, access control, guest management, and emergency workflows. Built to work with existing infrastructure, Coram enables organizations to modernize physical security operations without costly rip-and-replace projects. Trusted by more than 1,500 organizations across North America, Coram serves school districts, healthcare organizations, manufacturers, government agencies, places of worship, hospitality groups, retailers, and Fortune 500 enterprises.

Learn more at www.coram.ai.

About Ansa Capital

Ansa is a venture capital firm that makes high-conviction investments in new markets and systems. Our commitment goes beyond capital — Ansa's Revenue Council of elite go-to-market leaders and network of domain specific advisors equip our teams with indispensable tools that accelerate their path to market leadership. We offer a new model for founders: equal, aligned, and relentless. Leveraging our experience scaling companies through IPO, Ansa supports our operators' evolution into category definers. To learn more about Ansa, visit: www.ansa.co.

Adani Energy Solutions to Acquire IntelliSmart in ₹3,050 Crore Deal, Creating India’s Largest Smart Metering Platform

Adani Energy Solutions Limited (“AESL”), India’s largest private transmission company and one of India’s leading energy solutions providers, has executed a binding securities purchase and subscription agreement (“SPSA”) to acquire a 100% equity stake in IntelliSmart Infrastructure Private Limited, a leading smart metering JV between National Investment and Infrastructure Fund (“NIIF”) and Energy Efficiency Services Limited (“EESL”). The proposed acquisition will strengthen AESL’s position as India’s largest smart metering platform with over 4.7+ crore smart meters.

The proposed INR 3,050 crore transaction includes acquisition of the 100% of the equity share capital of IntelliSmart and redemption of the optionally convertible debentures of IntelliSmart held by NIIF. The transaction closing is subject to regulatory and other customary approvals.

IntelliSmart is one of India’s leading owners and operators of smart meter assets, with a total portfolio of 2.2+ crore meters across Uttar Pradesh, Gujarat, Madhya Pradesh, Bihar and Assam. IntelliSmart’s presence across high-growth consumer markets provides a strong runway for future expansion.

Acquisition of IntelliSmart enhances our scale and execution capabilities, enables us to support India’s power distribution modernization through technology-led solutions,\– Kandarp Patel, CEO, Adani Energy Solutions. 

The acquisition is in line with AESL’s strategy to pursue value-accretive growth through both organic and inorganic opportunities. The acquisition is expected to deliver synergies through economies of scale, optimisation of operations and maintenance costs, and integration with AESL’s broader energy and infrastructure platform.

“IntelliSmart is proud to be part of this milestone transaction, which has created value for its stakeholders.” said Anil Rawal, MD & CEO, IntelliSmart. “This achievement is expected to catalyze further investments and accelerate the digitalization of the power distribution sector, which is already emerging as a key driver of transformation across the country’s entire power value chain.”

“IntelliSmart’s evolution into one of the country’s leading smart metering platforms reflects NIIF’s ability to build and scale infrastructure businesses in emerging sectors of national importance.” said Vinod Giri, Managing Partner, NIIF. “For NIIF, this transaction marks an important milestone in our infrastructure strategy and reinforces our commitment to building industry-leading platforms in India. As IntelliSmart enters its next phase of growth, this exit enables us to unlock value while continuing to catalyse institutional capital into India’s digital and energy transition.”

EESL has been committed to enabling energy efficiency and digital transformation across India’s power sector,” said Akhilesh Dixit, CEO, EESL“We are proud of IntelliSmart’s contribution to the smart metering ecosystem and believe this transaction will further strengthen its ability to serve DISCOMs and consumers at scale. 

Cyril Amarchand Mangaldas acted as legal advisor to AESL for this transaction, Talwar Thakore & Associates acted as legal advisors to the Sellers, while Deloitte Touche Tohmatsu India acted as exclusive Transaction Advisors to the Sellers.

QubeHealth-Pay Raises ₹416 Crore Series A, Defines Healthcare as Fintech’s Next Big Vertical

• For the past few years, India’s most active fintech investors have been mapping the “verticalisation” of financial services — backing specialists in travel, payroll, and SME finance. One vertical, though, was quietly growing — and reaching more Indian households than any other: how a billion Indians pay for their healthcare.

QubeHealth-Pay, the healthcare payments processing company, has closed its Series-A funding round at a valuation of ₹416 Crore, backed by a clutch of deep-tech, fintech, and impact-focused family office funds that see healthcare as fintech’s next defining category. Unicorn India Ventures, IA Growth Opportunities Fund, Brew Opportunities Fund, Finvolve Ventures, FirstPort Capital, Maithan Family Office, and others participated in the round.

When QubeHealth-Pay last announced its funding, in late 2024, it had indicated it would raise its Series A at a valuation of around ₹270 Crore. The strength of investor demand for vertical fintech — in a market as ripe for disruption as Indian healthcare — saw the round close at a significantly higher valuation.

Qube is a vertical fintech: a financial platform engineered for the specific workflows of a single industry (i.e. Healthcare) rather than a one-size-fits-all product. Through its app, Indians pay for their family’s healthcare bills — at any hospital, clinic, doctor, diagnostic centre or pharmacy, anywhere in the country, with no network restrictions — earning instant cash-backs, and accessing instant medical finance for expenses their insurance does not cover. It also embeds access to employer health benefits funds, a user’s mutual fund savings, and government direct benefit funds, while rewarding each healthcare payment.

What Scapia and Jai Kisan are building in India for travel and agriculture, and what Toast became for restaurants in the US, and QubeHealth-Pay is building for healthcare: the financial operating system of a single, high-frequency, high-stakes vertical.

The behaviour on the Qube app is unusually sticky for a healthcare product. Active users open Qube 9.3 times a month to pay for their family’s health and medical bills — from everyday pharmacy purchases to doctors and diagnostics — with the most engaged households transacting around ₹9,000 a month across roughly three family members. More than 200,000 families have signed up, and over 700,000 Indians now rely on the platform. Qube processed ₹100 Crore of healthcare payments in FY2025-26, is on a run-rate to cross ₹240 Crore in FY2026-27, and is targeting more than $ 1 Billion by FY2029-30. Over 15,000 hospitals, clinics, and speciality providers — spanning diagnostics, dental, eye, skin, mental health, and more — hold special partnerships with Qube.

Paying for your family’s health is not like buying groceries — it’s urgent, recurring, emotional, and rarely fully covered by insurance.

For the past few years, the smartest money in fintech chased travel, payroll, and SME finance and missed the one bill every Indian family pays, fears, and cannot avoid: the healthcare bill.

This funding round is proof that investors now see that the next great fintech companies won’t be generalists; they’ll be vertical specialists — and the most significant vertical of all is healthcare. We’ve proven that category in India, and we intend to build it for the world.

— Chris George, Co-Founder & Group CEO, QubeHealth-Pay

The pattern is global. In the United States, Paytient gives employees an interest-free way to pay for care; in the Middle East, Klaim is rebuilding how providers are paid against insurance; in Africa, CarePay powers insurers’ payment rails.

India carries one of the largest out-of-pocket healthcare burdens of any major economy — and that's the gap QubeHealth-Pay fills, sitting where the payment happens and owning the data it creates.

We backed Qube before this was a recognised category, and everything we’ve seen since has only deepened our conviction. The team has turned a sharp insight about out-of-pocket healthcare into genuine product-market fit and relentless growth. Doubling down at this stage was an easy decision.

— Bhaskar Majumdar, Managing Partner, Unicorn India Ventures

Qube approached its Series A from a position of execution rather than promise. Having delivered the product roadmap it set out in 2024, the company raised on proof rather than projection.

Health insurance in India has focused mainly on hospitalisation (inpatient); however, the majority of a family's expenses are for consultations, diagnostics, pharmacy, dental, and everyday medical expenses. These expenses are, in the majority of cases, outside insurance coverage and directly affect the families. That gap has been the industry's unsolved problem for decades. QubeHealth-Pay is focusing on this problem and not competing with insurance. Qube is addressing the part of healthcare spending that matters to families.

— Sam Ghosh, Former MD - Bharti Financial Services and Former Group CEO Reliance Capital Ltd.

With the new capital, Qube will deepen its platform and extend the category it is defining — in India first, and over time across markets such as the Middle East and Southeast Asia, where families face the same out-of-pocket healthcare burden.

About QubeHealth-Pay

QubeHealth-Pay is a healthcare payments company, integrating a payments infrastructure, interest-free healthcare financing, insurance and healthcare providers into a single platform. Through the Qube app, employees of QubeHealth’s enterprise clients — and their families — can pay any healthcare provider across India, with no restrictions on provider networks or family members. Qube gives families control over their healthcare without being limited by their ability to pay, changing how India pays for healthcare. QubeHealth-Pay’s enterprise clients include Walmart India (which includes Flipkart), Tata Teleservices, Equitas Small Finance Bank and Omnicom Group.

India Opens Heavy‑Lift Rocket LVM3 to Private Sector for First Time

IN-SPACe has officially opened an Expression of Interest (EOI) for the transfer of ISRO’s heavy-lift rocket LVM3 (“Baahubali”) to private Indian companies, marking a historic step in India’s space sector liberalisation. The selected entity will gain full technology transfer, with ISRO handholding for up to 42 months or until two successful launches.

With this EOI, IN-SPACe opens India’s largest rocket for private contracts, including global satellite launches.

Moreover, it also marks the first time India’s heavy-lift rocket is being offered for private sector end-to-end realisation.

This development follows the PSLV transfer last month, signalling India’s move to let private industry handle operational Launches while ISRO to focus on advanced R&D, Gaganyaan, and interplanetary missions.

Key Highlights of the LVM3 EOI

• Technology Transfer: End-to-end realisation, operation, manufacturing, and commercialisation of LVM3.
• ISRO Support: Infrastructure access, mentorship, and engineering guidance for 42 months or until two launches.
• Eligibility Criteria:
  • Minimum 7+ years operational history
  • 5+ years in space/aerospace experience
  • Financial strength: ₹800 Cr+ average turnover OR ₹2000 Cr+ valuation
• Deadline: June 29, 2026
• Payload Capability: 4,000 kg to GTO and 8,000 kg to LEO
• Strategic Context: Follows PSLV transfer last month; frees ISRO to focus on advanced R&D, Gaganyaan, and interplanetary missions.

Why This Matters

Factor	Impact
Private Sector Role	Moves Indian firms from component suppliers to full-fledged launch service operators.
Global Space Economy	Positions India to scale launch frequencies and compete with SpaceX, Arianespace, etc.
Domestic Capability	Reduces reliance on ISRO for operational launches; strengthens sovereign manufacturing.
Commercialisation	Opens India’s heaviest rocket for private contracts, including satellite launches for global clients.

Risks & Challenges

• Late Entry: Industry experts note India is entering private heavy-lift commercialisation later than global peers.
• Absorption Complexity: LVM3 is a complex system; private firms must quickly build expertise.
• Capital Intensive: High investment required; only large aerospace players or consortia may qualify.
• Global Competition: Competing against established launch providers with proven track records.

Context for India

• LVM3 Missions: Chandrayaan-2, Chandrayaan-3, and Gaganyaan test flights.
• Strategic Goal: Scale India’s launch frequency and reduce bottlenecks at ISRO.
• Private Sector Push: Comes after PSLV transfer, signalling a broader shift to industry-led operations.

Gates Foundation Backs Bengaluru's Remidio’s AI Retinal Platform to Tackle Maternal Health Risks in Africa & India

Remidio Innovative Solutions has received a grant from the Gates Foundation to advance its Oculomics platform, which uses retinal imaging and AI to detect signs of systemic disease, for maternal health applications in low- and middle-income countries (LMICs). The initiative will focus on improving early risk assessment for major pregnancy complications, including pre-eclampsia (PE), anemia and gestational diabetes mellitus (GDM). The program will be carried out across countries in Africa and India, regions that together bear the overwhelming share of the global maternal and perinatal disease burden


The scale of the problem is stark. There are approximately 2 million stillbirths worldwide each year, equivalent to one every 16 seconds, and 84% of these occur in LMICs. Hypertensive disorders of pregnancy, particularly pre-eclampsia, are among the leading placental causes of these deaths. The same conditions are also among the leading causes of maternal mortality globally, contributing to an estimated 42,000 maternal deaths annually. Gestational diabetes mellitus affects approximately one in six pregnancies worldwide, with a disproportionately high burden falling on these same populations. Together, these conditions are major contributors to stillbirth, preterm birth, and long-term cardiovascular and metabolic complications that affect both mothers and their children.

The women most at risk from pre-eclampsia and gestational diabetes are often the least likely to reach a laboratory or a specialist in time," said Dr. Anand Sivaraman, Chief Executive Officer and Founding Director, Remidio. "A retinal image takes seconds and can be captured by a frontline worker with minimal training. This grant allows us to ask a clear question with real rigour: can the platform already deployed widely for diabetic retinopathy also help identify pregnancies at risk, in the places where that information is needed most.

The biological link between retinal microvascular changes and systemic vascular and metabolic disease is now well established. Yet in the primary care and community settings where maternal mortality is concentrated, the diagnostic tools that currently support early risk stratification, namely complex laboratory assays, biochemical biomarkers and Doppler-based assessments, are largely unavailable at the point of care, requiring laboratory infrastructure, trained personnel and referral pathways that simply do not exist for most pregnant women in LMICs. Non-invasive retinal imaging, by contrast, is quick, easy to perform by frontline health workers with minimal training, and inherently scalable, making it uniquely suited to bringing advanced risk assessment to the front lines of antenatal care.

The retina is the only place in the body where blood vessels can be observed directly and without an invasive procedure, said Dr. Divya Rao, Chief Medical Officer and Head of AI, Remidio. The microvascular and metabolic changes associated with pre-eclampsia and gestational diabetes leave detectable signatures. Having built and validated our retinal AI on a very large and diverse image dataset, our task now is to prove these signals hold up in community antenatal care, in the hands of frontline workers, across different populations. Evidence, not assumption, will decide where this proves useful.

Remidio's portable, smartphone-based retinal imaging platform is already widely deployed across primary care and community screening programs for diabetic retinopathy, glaucoma and AMD. The grant will extend this platform into maternal health, with implementation across partner sites in Africa and India.

About Remidio -

Today, the human eye is unlocking early insights into systemic health, and Remidio is at the forefront of this transformation. Remidio is a pioneer in AI-driven eye care, leading the shift from care of the eye to healthcare through the eye. As the first company to receive CDSCO approval in India for our adaptive ophthalmic AI, in addition to CE marking in Europe under Class II EU-MDR, we are redefining how diseases like diabetic retinopathy, glaucoma, and AMD are detected early, in close to patient contexts, while remaining confident of extending this to systemic disease detection such as CVD, CKD and liver diseases, in the future.

With CE-marked, FDA 510(k)-registered devices, our solutions have screened 16 million+ patients across 55 countries, integrating teleophthalmology and AI for fast, accurate diagnoses. Our innovative retinal imaging solutions ensure precision and efficiency in clinical workflows. Our journey began humbly - thanks to the chance meeting of our founder, with a mission driven ophthalmologist, who brought into focus the need for decentralizing eye testing with simple to use and affordable devices. That conversation, 15 years back, sparked a vision to make high-quality preventive care accessible to all. Guided by innovation, empathy, and a commitment to global impact, our journey is just beginning!