Startup Funding: Kissht IPO, Pursuit & Optimized Electrotech Raise Millions
Key Highlights
Lending tech startup Kissht raises ₹278 Cr ahead of IPO. US-based Pursuit secures $22M seed, while India’s Optimized Electrotech lands Rs 100 Cr for defense tech.
Lending technology startup Kissht’s parent company, OnEMI Technology Solutions, has successfully raised ₹277.8 crore from anchor investors. This funding round precedes the public issue bidding, which is scheduled to commence on April 30. The company allotted 1.62 crore equity shares to anchor investors at ₹171 per share, the upper limit of its price band.
Domestic mutual funds were significant participants, acquiring 92.6 lakh shares, representing 57% of the anchor round, through 13 schemes. Notable participating funds included HDFC Mutual Fund, ICICI Prudential, Whiteoak Capital, and Bandhan Bank. Global investors such as Goldman Sachs, New York State Teachers Retirement System, BNP Paribas, and Citigroup also participated in the funding.
Kissht’s will open on April 30 and close on May 5. The public offering includes a fresh issue of shares worth up to ₹850 crore and an offer for sale () of 44.4 lakh shares. At the higher end of its ₹162 to ₹171 price band, the IPO is expected to value the company at approximately ₹2,881 crore (about $294.3 million). Existing investors like Vertex Ventures, Endiya Partners, and Ventureast will partially divest their holdings through the OFS.
Founded in 2015 by Ranvir Singh and Krishnan Vishwanathan, Kissht provides digital personal and business loans up to ₹5 lakh, alongside health insurance products and secured loans against property. In March, prior to the IPO process, the co-founders sold shares worth ₹40 crore at approximately ₹201 per share. Following this, their stakes in the company increased to 18.8% for Singh and 13.5% for Vishwanathan.
Kissht received approval from SEBI for its IPO in January 2026, having filed its draft papers in August 2025. Financially, the company reported a (PAT) of ₹199.3 crore in the first nine months of FY26, with operating revenue standing at ₹1,569.9 crore for the same period. However, its PAT for FY25 saw a decline of about 18% to ₹160.6 crore from ₹197.3 crore in FY24, with operating revenue falling over 20% to ₹1,337.5 crore from ₹1,674.5 crore in FY24.
In other funding news, Pursuit, a US-based startup focused on enabling companies to sell to the government, has announced a $22 million seed funding round. The round was led by Mike Rosengarten and included participation from venture capitalists such as Bill Gurley and Jack Altman.
Additionally, Indian startup Optimized Electrotech, which specializes in AI-powered electro-optical systems for defense applications, has secured Rs 100 crore. The company is already deploying its technology with Indian armed forces.