In Full Blume | February 2025
Updates from the portfolio companies
February was an exciting and exhausting month.
Blume Day 2025 was the highlight of our month. It was months in the making, and we couldn’t be happier with the way it turned out! We’ve got all the updates below.
Other than the gala event, it was Business-As-Usual for our portfolio companies; they’ve gone about doing what they do best—build and win! Funding, ‘first-of-its-kind’ updates, ‘heads-down-and-work’ updates, we’ve got them all.
As we say each time, read on!
Oh, one last thing.
Starting this month we will also share all portfolio updates in a crisp video—made possible by GenAI tools. Take a look at the In Full Blume February video and let us know what you think. (Sound on.)
On to the text newsletter now.
Blume Day 2025 Highlights!
“Will there be a book?”
That’s what we ask our founders in the toughest of times.
And, when they stare back, counting on the extra reserve courage they somehow always seem to have, we often hear them say, “Destiny. I will Avenge You.”
And, as you’d have guessed, our theme for this year’s Blume Day, where the best and brightest of the ecosystem converged, was ‘Destiny. Avenged’
Think of it as our tribute or clarion call to the gritty ecosystem we are all building together.
Know more about it in Karthik Reddy’s own words. Here’s a look at the 11th edition of our Blume Day t-shirt.
Future Forward
Among the major highlights of the action-packed Blume Day evening were the sessions from our founders, peeking into the future and showing us what it feels like to be on the cutting edge of innovation.
Shan MS, Co-founder and COO, Namma Yatri (Fund IV), spoke about the future of mobility and why it has to be empathic, inclusive, decentralized, and open source (run by and for people).
Mohit Kumar, Co-founder and CEO, Ultrahuman (Fund III), argues that we know more about our cars than our bodies (he is right).
Saurav Kumar, Founder and CEO, Euler Motors (Fund III), paints a view of where we could go from here: UAVs, Hyperloop, Space travel, and what not!
Karan Shroff, Co-founder and CEO, and Justin Farren, Chief Creative Officer of LightFury (Fund IV), talk about how AI can help build more ethical, responsible, productive, and cost-effective games.
Awais Ahmed, Co-founder and CEO, Pixxel (Fund III), talks about why one must look at the stars to find solutions we need back home (earth).
Indus Valley Annual Report Makes Waves (Yet Again)
Well, we think we’ve come to a place where we no longer have to talk about what the Indus Valley Annual Report is. For those of you who haven’t yet read it, we’ve got tons and tons (180+ pages) of dense (and sometimes contrarian) insights.
We’ve covered everything from consumption patterns and IPOs, to quick commerce, and a host of other things through graphs, tweets, and commentary.
You can access the report here.
Watch the session where the Blume Team unveiled the report.
Now, on to portfolio updates!
Funding Galore
Ati Motors Secures $20M Series B to Expand Global Autonomous Robotics Operations
Ati Motors (Blume Fund III) has raised $20 million in a Series B funding round led by Walden Catalyst Ventures and NGP Capital, with participation from existing investors Blume Ventures, True Ventures, Exfinity Venture Partners, and Athera Venture Partners.
The autonomous robotics company plans to use the funding to accelerate product development, expand operations in North America and the Asia-Pacific region, and strengthen its global presence, having recently established operations in Mexico and expanded its Detroit headquarters.
According to co-founder and CEO Saurabh Chandra, Ati Motors’ robots are currently deployed across the US, Mexico, India, Thailand, Singapore, and Vietnam, with customers particularly valuing their performance in rugged conditions.
Mysa Secures $2.8M Seed Funding and Exits Beta
Mysa (Blume Fund IV) announced its $2.8 million seed funding led by Blume Ventures, with participation from Emphasis Ventures (EMVC), Antler, Neon Fund, IIMA Ventures, and notable angel investors.
After six months in closed beta with early adopters like DPDZero, Kouzina, Guru & Jana, Swish, and Rigi, Mysa is now available to anyone who wants to level up their finance function.
The platform offers unified finance and banking for businesses with features including seamless bill ingestion, smart document scanning, intelligent banking integration, and AI-powered accounting—all designed to eliminate manual reconciliation and compliance issues.
Electrifying News
Charging Ahead: Battery Smart Tops Clean-tech Rankings
Battery Smart (Blume Fund IV) has been ranked among India's top clean-tech startups by Outlook Business. Founded in 2019 by Siddharth Sikka and Pulkit Khurana, the Gurgaon-based company operates 1,400+ battery-swapping stations across 40+ cities, having saved over 280,000 tonnes of CO2 to date.
Euler Motors Powers Up with Tata Partnership for Commercial EV Charging
Euler Motors (Blume Fund III) has partnered with Tata Power Renewables to expand fast-charging infrastructure for commercial electric vehicles across India.
Under this strategic collaboration, Tata Power Renewables will install, operate, and maintain fast chargers at locations frequented by Euler Motors' customers, which will be provided rent-free by Euler Motors.
The partnership addresses range anxiety and charging accessibility concerns for commercial EV users, with Euler's HiLoadEV three-wheeled commercial vehicle capable of achieving a full charge in just 30 minutes.
Vecmocon's CEO Peeyush Asati Named in Entrepreneur India's 35 Under 35
Peeyush Asati, CEO, Vecmocon Technologies (Blume Fund IV), has been recognized in Entrepreneur India's prestigious 35 Under 35 list.
Vecmocon specializes in providing seamless connectivity, advanced data insights, and high-performance EV components, empowering OEMs and battery manufacturers to build world-class electric mobility solutions at scale.
‘Is This Really Possible’ News
Unacademy’s Airlearn Climbs to #3 in US Education App Rankings
Unacademy's (Blume Fund II) language learning app, Airlearn is at the #3 position in the US App Store's Education category, surpassing numerous global competitors.
The language learning app, led by CEO and Co-founder Gaurav Munjal, now ranks behind only Gauth and Duolingo in the competitive and lucrative US education app market.
slice Launches with Daily Interest at 100% of RBI Repo Rate
slice (Blume Fund II) has gone live with a groundbreaking banking feature offering 100% of the RBI repo rate as interest on savings accounts, significantly outperforming traditional banks.
According to data shared by Founder Rajan Bajaj, top public sector banks offer only about 44% of the RBI repo rate, while top private banks provide around 51%.
With daily interest compounding (versus quarterly at traditional banks), Slice demonstrates that a ₹5,00,000 savings balance would earn ₹31,250 annually, compared to ₹13,750 at top public sector banks and ₹15,937 at top private banks.
Company Updates
WebEngage Earns Top Rankings in G2's Best Software List
WebEngage (Blume Fund I vintage) has been recognized among G2's Best Software Companies, securing impressive rankings as #14 in India and #22 in the APAC region.
This significant achievement is based on authentic customer feedback, reinforcing WebEngage's commitment to simplifying customer retention and engagement solutions.
Ethereal Machines to Establish Smart Factory in Bengaluru
Ethereal Machines (Blume Fund III) has signed an MoU with the Government of Karnataka at Invest Karnataka 2025 to establish a three lakh sq. ft. smart factory in Bengaluru.
The state-of-the-art facility will focus on precision manufacturing, advanced engineering, and R&D, leveraging the company's proprietary IP and CNC machines to produce precision components for the aerospace, healthcare, and consumer electronics industries.
As one of the few global players to have mastered 5-axis CNC machining, Ethereal Machines enables industries to achieve higher accuracy, efficiency, and innovation—critical factors in modern manufacturing.
Namma Yatri Launches Driver-Led Initiative for Fair Pricing in Tamil Nadu
Namma Yatri (Blume Fund IV) has announced a significant development as Tamil Nadu’s auto and cab drivers commit to leading the country in customer service and fair pricing standards.
Founders Shan M S and Magizhan Selvan unveiled a historic pledge where drivers are adopting an Aavin-style open model focused on transparency, trust, and collaboration. Aavin is Tamil Nadu's milk corporation.
Routematic Expands Operations with New Command Centre in Hyderabad
Routematic (Blume Fund I vintage) has launched its third Command Center in Manikonda, Pokalwada, Telangana, following its existing centers in Bengaluru and Pune. The Command Center utilizes advanced AI-driven analytics and GPS-based tracking to enhance route optimization, reduce transit times, and lower carbon footprint.
The new state-of-the-art facility strengthens Routematic's mission to redefine corporate mobility with 24/7 support, AI-driven predictive fleet management, and real-time monitoring capabilities.
That’s all.
See you next month.
Team Blume
What did you use for that AI video? The lip syncing is great!