Belong, Green Aero, and Enercomp Solutions Raise Early-Stage Funding The below brands have announced their latest funding rounds.
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Belong Raises USD 5 Mn Funding from Elevation Capital
NRI-focused fintech startup Belong has raised USD 5 million in a seed round led by Elevation Capital, with participation from Relentless Ventures and top angel investors including Abhiraj Singh Bahl, Varun Khaitan (Urban Company), Akshant Goyal (Zomato), Varun Alagh (Mamaearth), and others.
The funds will be used to acquire regulatory licences, scale its product suite, and expand across major NRI geographies such as the UAE, Gulf, UK, and US.
Founded in 2024 by fintech veterans Ankur Choudhary, Ayush Singh, Sai Sankar M, and Savitri Bobde, Belong is India's first digital financial platform built exclusively for NRIs, operating through GIFT City, India's International Financial Services Centre.
Belong launched with a USD Fixed Deposit product in partnership with Indian banks in GIFT City—offering tax-free returns, INR depreciation protection, doorstep KYC, and easy repatriation. It has also secured PSP and broker-dealer licences from IFSCA.
"We're building Belong to be the trusted financial home for Global Indians," said Ankur Choudhary, CEO. "Starting with secure USD Fixed Deposits, our goal is to simplify India for NRIs."
The company also offers NRI-specific digital tools like an FD explorer, GIFT Nifty tracker, rupee-dollar monitor, and is soon launching a transparent India tax-filing service for NRIs.
"Belong is uniquely positioned to serve this massive, underserved market," added Vaas Bhaskar of Elevation Capital.
Green Aero Raises USD 1.6 Mn from pi Ventures and Antler
Deeptech startup Green Aero, incubated at IIT Delhi, has raised USD 1.6 million in seed funding from pi Ventures, with participation from Antler, to build next-generation propulsion systems for defence and hydrogen-powered civil aviation.
The funds will be deployed towards R&D, setting up an in-house engine testing facility, and team expansion ahead of upcoming commercial pilots.
Founded in 2022 by Prithwish Kundu, a former research scientist at the US Department of Energy's Argonne National Lab, Green Aero focuses on designing indigenous propulsion systems—a strategic move for India, which has long depended on imported turbine engines. The company recently test-fired India's first hydrogen-based aero engine, a major milestone in sustainable aviation.
"We are excited to be at the forefront of developing advanced aero engine technologies in India for the world. This is the need of the hour for modern defence and aviation requirements," said Kundu, who has previously collaborated with NASA and the US Army.
Green Aero aims to commercialise a small-category engine within 12 months, with long-term plans for larger engine platforms. Its product line includes propulsion systems for aerospace, naval, and civil aviation sectors.
"Green Aero is building world-class aero engines in India, with a laser-sharp focus on efficiency and performance," added Shubham Sandeep, MD at pi Ventures.
Enercomp Solutions Raises INR 2 Cr to Scale AI-Driven Drone Capabilities
Drone tech startup Enercomp Solutions has raised INR 2 crore in a bridge round led by angel investors, with the round advised by Bestvantage Investments, a boutique investment advisory firm.
The capital will be used to expand manufacturing, scale R&D for its AI-powered drone software, and strengthen delivery capabilities for national-scale projects.
Founded in Ahmedabad, Enercomp operates at the intersection of hardware, services, and software, offering indigenous drone manufacturing, Drone-as-a-Service (DaaS) models, and a proprietary GIS analytics platform. Its product portfolio includes seven proprietary drone models—VTOL, fixed-wing, and surveillance variants—actively used by enterprise and government clients.
"This bridge round will help us deepen our IP portfolio and scale for national deployments," said Jatin Patel, Co-founder and Director. "We're building not just drones, but foundational tech infrastructure for India's USD 13 billion drone economy."
Enercomp serves major clients such as Tata Projects, Reliance, Mahindra Susten, and L&T, and has maintained profitability while growing from INR 3.1 crore in FY23 to INR 5.6 crore in FY24. With INR 4.2 crore already logged in FY25 and an order book over INR 9 crore, the company shows strong momentum.
"We backed Enercomp for its capital efficiency and IP-led innovation," said Raman Sharma, Founder of Bestvantage Investments.
To date, Enercomp has raised INR 6.9 crore, with a valuation jump from INR 12.5 crore to INR 60 crore, while the founding team retains over 80.5% equity, including a 4% ESOP pool.
