Iron Pillar Raises $400Mn To Enhance Indian Tech Startups

Leading investment company Iron pillar has plans to raise $400 million in order to aid and assist software firms in India. Iron Pillar was founded in the year 2015 by Anand Prasanna, Ashish Shah, and Mohanjit Jolly. 

Also, the investment firm is reportedly in touch with limited partners to raise about $400 million for its second fund, according to sources at Deal Street Asia.

In addition, the firm has invested in Testbook.com, Freshtohome, Uniphore, NowFloats, Vyome Therapeutics, SEDEMAC Mechatronics, Servify, and Bluestone.com

Iron Pillar has so far made investments totaling 11 different investments. And on January 8, 2020, the last investment was made. Furthermore, according to predictions from Iron Pillar, India would reportedly be home to over 250 unicorns by 2025.

Iron Pillar, on the other hand, has raised two funds; it closed the first one, worth $90 million, in 2018, and the second, for $45 million, was raised in 2019.

Additionally, India has grown into the third-largest startup ecosystem in the world, behind China and the US. There are currently more than 100 unicorns in the nation. 42 unicorns were created in 2021 as a result of Indian businesses raising $42 billion through 1,583 agreements.

According to the report, Lightspeed India Partners plans to raise $500 million in funding, as opposed to Matrix Partners India, which wants to raise $450 million.