Premji Invest Infuses ₹300 Crore in Bharat Forge Subsidiary JSA, Takes 23% Stake

JS Auto Cast Foundry India Private Limited (JSA), 100% wholly owned step- down subsidiary of Bharat Forge Limited and a leading supplier of critical ferrous castings for industrial and automotive applications, has successfully raised equity of Rs. 300 crores from Premji Invest (PI) by way of primary infusion into the company. PI will hold 23% stake on a fully diluted basis post the infusion.

The capital will be utilized to accelerate the growth of JSA by expanding its casting capacity, investing in medium casting capacity and consolidation of the industry via acquisitions.

Commenting on this partnership, Amit Kalyani, Vice Chairman & Joint Managing Director, Bharat Forge said, “Since 2022 when we acquired JSA, the company has delivered excellent financial performance with topline, exports and profitability growing at a CAGR of 17%, 24% and 25% respectively, while enhancing its product mix and customer base. We are delighted to partner with Premji Invest (PI), a renowned and highly respected investor, in the next phase of JSA’s growth journey”

Manoj Jaiswal, Partner, Premji Invest, who leads the firm’s Industrials and Buyout investments said, “We are excited to partner with Bharat Forge, a premier engineering and manufacturing conglomerate in the country. Collaborating with leading conglomerates on their growth and consolidation journey is one of our strategic pillars. Through our investment in JSA, we look forward to jointly building a leading ferrous casting platform in the country.”

The completion of the transaction is subject to customary satisfaction of various conditions. PWC Investment Banking acted as the sole financial advisor for Bharat Forge Limited.

Emversity Raises $30 Mn (₹271 Crore) in Series A Funding

• Emversity has emerged as a category leader, supporting 4,500 learners across 40 campuses, with employer-co-created workforce pipelines in healthcare and hospitality
• The company will use the proceeds to expand to over 200 campuses, launch new skilling verticals in EPC and manufacturing, and unlock access to select global workforce demand for India-trained talent.

Emversity, a higher-education embedded training and employability platform operated by Beyond Odds Technologies Pvt. Ltd., has raised $30 million (₹271 crore) in a Series A round led by Premji Invest, with participation from Lightspeed and Z47, taking total funding raised to $46 million.

Emversity acts as a bridge between universities and employers, working with higher-education institutions to strengthen the link between academic learning and workforce readiness. By embedding industry-aligned curricula, work-integrated training, and advanced learning infrastructure—including simulation-based and AR/VR-enabled learning—the platform helps universities deliver more employable graduates. In parallel, Emversity works directly with employers and operates dedicated skill centres in affiliation with the National Skill Development Corporation (NSDC), offering short-term training programs for healthcare and hospitality. Together, these efforts address workforce shortages in critical sectors while enabling predictable education-to-employment outcomes.

In under two years, Emversity has scaled into a category-leading platform, supporting over 4,500 learners across 40+ campuses through employer-co-created workforce pipelines. Its healthcare and hospitality programs are developed in collaboration with leading employers to ensure curriculum relevance and job readiness, with early cohorts working at organisations such as Fortis Healthcare, Apollo Hospitals, Aster, KIMS, IHCL (Taj Hotels), and Lemon Tree Hotels. This employer-integrated model spans university-embedded programs and Emversity-operated skill centres, strengthening employability outcomes while enabling predictable, job-ready talent pipelines at scale.

The company plans to deploy the capital toward long-term priorities, including:

• Expanding Emversity’s campus footprint from 40+ to over 200 locations
• Deepening its leadership position in healthcare and hospitality skilling
• Launching skilling programs for infrastructure-led EPC and manufacturing industries
• Continuing to strengthen its technology-enabled careers platform spanning career discovery, training, employability, and workforce mobility

Vivek Sinha, Founder & CEO, Emversity said “India has added significant capacity in higher education over the past decade, but the alignment between education and employability has not kept pace with the needs of a rapidly changing economy. Universities have built academic scale and depth, while skill requirements across sectors have evolved far more quickly. Emversity was created to work alongside universities—adding industry relevance, applied training, and employer linkage where it is most needed.

This funding allows us to scale that model responsibly: strengthening proven sectors, extending it to new areas of workforce demand, and continuing to build a durable institution focused on employability outcomes. Our objective is to enable a capital-efficient education-to-employment platform that leverages existing university infrastructure and can operate at a global scale over the long term.”

Kaveesh Chawla, Partner at Premji Invest, said, “Our investment in Emversity reflects our strong conviction in the role of outcome-oriented education and skilling in driving long-term social and economic impact in India. As the need to bridge the gap between academic learning and real-world employability grows, Emversity’s student-centric approach, focus on apprenticeships, and strong alignment with industry partners position it well to address this gap at scale.”

Rajat Agarwal, Managing Director at Z47, added, “Emversity is building employability infrastructure in sectors that are critical to India’s long-term growth and capacity. The team has demonstrated consistency and resilience in a complex operating environment, and this round supports the next phase of scaling a durable, employment-led higher education platform. We believe Emversity is well positioned to strengthen employability outcomes in India, and we’re pleased to continue partnering with the team.”

Harsha Kumar, Partner at Lightspeed, said, “Emversity is addressing a fundamental gap between education and employability in India by working within existing institutions rather than around them. Vivek and the team have built a disciplined, outcomes-led platform that aligns universities, employers, and learners over the long term. We believe this approach is well suited to building education-to-employment infrastructure at scale, and we’re pleased to continue supporting Emversity in its next phase.”

About Beyond Odds Technologies

Beyond Odds Technologies Pvt. Ltd. is an education-to-employment platform building long-term employability infrastructure for India’s workforce. Founded in 2023, the company operates across higher education, skilling, and talent outcomes, with a focus on large, under-served, and nation-building sectors. Its flagship platform, Emversity, works with higher-education institutions and employers in an asset-light partnership to strengthen the link between academic learning and workforce readiness. By embedding industry-aligned curriculum, applied training, technology-enabled learning infrastructure, internships, and placement support into existing university programs, Emversity enables institutions to deliver more employable graduates at scale.

For more details, visit www.emversity.com

Weaver Services Secures $170M from Lightspeed, Premji Invest to Transform Affordable Housing Finance in India

Weaver Services, a technology-first housing finance platform aiming to transform affordable housing finance in India, announced today that it has executed definitive transaction documents to raise $170 million funding in a landmark investment round led by Lightspeed and Premji Invest, subject to regulatory approvals. Gaja Capital also participated in the round.

Weaver is building a next-generation housing finance platform through use of technology and AI-driven workflows, to serve India's vast underserved affordable housing segment with a focus on self-employed individuals. Earlier, Weaver acquired Capital India Housing Finance as an anchor asset for the platform. It is likely to acquire another asset for initial scale and is currently evaluating a few assets for this purpose. The investment will accelerate Weaver's asset acquisition, fund technology development, and expand reach across tier-2 and tier-3 cities where the affordable housing gap is most acute. The team intends to combine strong market expertise in affordable housing with proprietary tech-driven underwriting models that leverage alternative data to assess creditworthiness beyond traditional parameters, enabling faster approvals and more inclusive lending.

Leading Weaver's transformation is Founder and Vice Chairman Satrajit Bhattacharya, an industry veteran with three decades of experience at HDFC Ltd. Alongside him, Co-Founder and CEO Anil Kothuri brings three decades of deep expertise in financial services, working at FedFina, Edelweiss and Citi.

“We aim to make housing finance more accessible to the people of India by leveraging technology and placing customers at the centre of our focus thereby bringing in a new paradigm in the space” said Satrajit Bhattacharya, Founder and Vice Chairman of Weaver Services.

"There is a clear opportunity to use technology mindfully to offer home loans to the informal segment, while achieving better customer selection, superior risk management, and enhanced productivity." said Anil Kothuri, MD and CEO of Weaver Services.

Investor Partnership

The investment marks a significant commitment by Lightspeed and Premji Invest, both of whom have been investing in India for two decades. Lightspeed, a global multi-stage investment firm with over $30 billion in AUM and a strong track record of backing category-defining entrepreneurs, sees Weaver as an impactful force that could potentially reshape India's housing finance market across Tier 1, 2 and 3 cities.

"We believe that India's housing finance market remains under-penetrated and we see it as a tremendous opportunity. Weaver’s combination of deep domain expertise, AI-driven capabilities, and a tech-first approach that positions them to democratize home ownership for millions of underserved Indians. At Lightspeed, we partner with bold, visionary founders with conviction to build extraordinary category leading companies. We are excited to partner with Satra, Anil and the exceptional team to reimagine the housing finance landscape in India” said Anuvrat Jain, Principal - Growth Investments, Lightspeed.

"At Premji Invest, we see a significant opportunity to leverage technology to transform the affordable housing finance sector in India. The acquisition of Capital India Housing Finance by Weaver Services marks an important first step toward delivering frictionless, scalable, and inclusive mortgage solutions for underserved segments. This investment reflects our commitment to backing differentiated and innovative platforms that use technology to drive meaningful, long-term impact in financial services” said Saravanan Nattanmai, Partner, Premji Invest.

Gopal Jain, Managing Partner, Gaja Capital added "Weaver is addressing a deep-rooted gap in India’s housing finance ecosystem with a tech-led, customer-first approach. Their sharp focus on the self-employed segment, combined with disciplined execution, positions them well to emerge as a leader in the next phase of inclusive growth in financial services”

About Lightspeed

Lightspeed is a leading global multi-stage investment firm, investing across venture to late-stage growth, with a focus on accelerating disruptive innovations in AI, Enterprise, Financial Services, Consumer, Health, and B2B. Over the past two decades, the Lightspeed team has backed hundreds of entrepreneurs building some of the most innovative and category-defining companies in the world. Globally, Lightspeed has invested in more than 500 companies, including Anthropic, Affirm, Anduril, Epic Games, Nutanix, Snapchat, AppDynamics, MuleSoft, Rubrik, Wiz, Oyo, Zepto, Udaan, Razorpay, PocketFM, Physicswallah and many others. Today, Lightspeed and its global team manage over $30 billion in AUM across its platform, with investment professionals and advisors based in the U.S., Europe, India, Israel, and Southeast Asia. Lightspeed began investing in India in 2008, with a portfolio that now spans both early-stage startups and growth-stage market leaders.

About Premji Invest

Premji Invest (PI) is a leading global investment firm with a charter to back emerging and disruptive technologies, address sizable market opportunities and nurture the spirit of entrepreneurship. Its evergreen structure allows PI to make investments in India and the US with a long-term horizon. PI invests both in private and public markets. Its private investments include early stage, growth equity and buyouts and focus areas span financial services, technology, consumer, industrials, and healthcare. Public markets investments span listed companies with promising long-term prospects, sustainable returns and high standards of corporate governance across sectors. Investments are done using a structured quantamental (fundamental + quantitative) approach. The returns generated by PI primarily support the work of Azim Premji Foundation, a non-profit that works to improve the lives of the underserved and underprivileged in society.

About Gaja Capital

Gaja Capital is one of India’s leading PE/alternative asset management companies, focused on providing growth capital to ambitious entrepreneurs building the future champions of the Indian economy. Founded in 2004, Gaja Capital has established itself as India’s first institutional and independent private equity firm with a strong track record of performance and value creation. Gaja Capital is recognised as a partner of choice by emerging Indian companies and top-tier global and domestic institutional investors. Some of Gaja Capital’s investments include Teamlease, Lighthouse Learning, RBL Bank, John Distilleries, Xpressbees, Ei, Leadsquared, Signzy and Fractal Analytics.

Akasa Air in Talks to Raise ~ $125 Mn from Consortium that includes Premji Invest, Family Offices of Azim Premji and Ranjan Pai

Premji Invest, a venture capital firm led by Wipro's Azim Premji, and Claypond Capital, the family offices of Azim Premji again, and Manipal Group's Ranjan Pai, respectively, are in discussions to invest approximately $125 million for a significant minority stake in Akasa Air, said a report by Economic Times. 

This investment would value the airline at over $350 million. The funds will be used for expansion and payments for the airline, with new shares issued by diluting the shareholding of the Jhunjhunwala family and Vinay Dube, who together own 65% of Akasa Air.

The proposed investment is approximately $125 million (over ₹1,000 crore), aimed at supporting the airline’s expansion and financing pre-delivery aircraft payments.

Additionally, Akasa Air is reportedly seeking additional funding of up to $400 million to increase its value from $650 million to $1 billion.

Akasa Air is backed by Rakesh Jhunjhunwala, who co-founded the company and owns 40% of it. Additionally, the former President of IndiGo, Aditya Ghosh, holds a 10% stake in Akasa Air. The Jhunjhunwala family currently holds the largest stake in the airline, with 40%, and will remain the largest shareholder even after the new investment by Premji Invest and Claypond Capital.

Indian billionaire trader Rakesh Jhunjhunwala invested $35 million for a 40% stake in Akasa Air in July 2021. Aditya Ghosh, former President of IndiGo, owns 10% of the airline, while Vinay Dube holds 31%.

The low-cost airline commenced commercial operations on 7 August 2022, flying its first service from Mumbai to Ahmedabad using a Boeing 737 MAX 8 aircraft. Akasa Air has rapidly expanded its fleet, adding 24 aircraft since its launch in August 2021—a record pace for any new airline in India.

The airline initially ordered 76 Boeing 737 Max aircraft, followed by an additional 150 orders in January. Production delays and regulatory scrutiny have impacted these plans. In March, Akasa Air and Canada-based CAE Inc., signed a 15-year agreement to provide pilot training for Akasa Air's Boeing 737MAX aircraft in India.

With a delivery rate of one aircraft every 15 days, Akasa Air now boasts a fleet of 18 aircraft and has flown over 11 million passengers since its launch in August 2022. 

Azim Premji's PremJi Invest Considering Investing $50–$70 Mn in Canva

Azim Premji's investment fund, Premji Invest, is considering investing $50–$70 Million in the Australian graphic design platform Canva. This investment is part of Canva's recent secondary market sale, where shares worth $1.6 billion changed hands between existing and new shareholders, valuing the company at $26 billion.

Premji Invest's interest in Canva aligns with the booming creator ecosystem, where Canva has a competitive edge. Additionally, this investment is a strategic move, as Canva is expected to go public within the next two years. Premji Invest is focussing on generative AI and its recent investment in California-based generative AI healthcare startup Hippocratic AI demonstrate its commitment to leveraging AI technologies.

Canva, which has a significant presence in India, continues to invest heavily in the country. India boasts one of the largest creator communities on Facebook, making it a crucial market for Canva's growth. As the company expands its offerings and embraces AI, it remains at the forefront of graphic design tools and creative software.

Additionally, Canva's recent acquisition of Affinity Suite, a creative software, aims to enhance its Al capabilities and leverage the power of Al tools within its platform, as well to compete with the rival Adobe.

As the world embraces Al-driven innovations, Premji Invest's strategic move underscores the potential of generative Al and its impact across various industries. With Canva's impressive valuation and growth trajectory, this investment could prove to be a valuable addition to Premji Invest's portfolio.

Premji Invest is a multi-family office specializing in private equity and venture capital investments, has an impressive portfolio of companies across various sectors. Here are some notable companies that Premji Invest has invested in — Policy Bazaar, Flipkart, Snapdeal, Byju's, PharmEasy, The Sleep Company, Dezerv, Oro Money, KreditBee and Contlo.

These investments reflect Premji Invest's diverse interests and strategic bets across different sectors, contributing to its evergreen capital and long-term vision.