--- url: 'https://qubit.capital/blog/india-series-b-plus-weekly-funding-roundup-mar-13-20-2026' title: 'India Series B+ Weekly Funding Roundup (Mar 13-20, 2026): $77.0M Raised Across 3 Deals' author: name: Sahil Agrawal url: 'https://qubit.capital/blog/author/sahil' date: '2026-03-20T06:23:43+05:30' modified: '2026-03-20T15:12:39+05:30' type: post summary: 'India Series B+ weekly funding roundup: Ecofy raises $42M for green finance, Assiduus Global secures $25M for AI e-commerce, and Burger Singh closes $10M for QSR expansion.' categories: - Weekly Funding Roundup image: 'https://qubit.capital/wp-content/uploads/2026/03/featured-india-series-bplus-64363.webp' published: true --- # India Series B+ Weekly Funding Roundup (Mar 13-20, 2026): $77.0M Raised Across 3 Deals Indian growth-stage companies raised $77 million across three deals this week, spanning green finance, AI-powered e-commerce, and quick-service restaurants. The rounds reflect a maturing startup ecosystem where profitability and sector dominance matter more than pure growth metrics. Two themes stand out. First, climate and sustainability continue to attract serious capital — Ecofy’s $42 million raise from development finance institutions signals that green lending in India has moved beyond pilot stage. Second, profitable companies are commanding strong investor interest, with Assiduus Global’s seven consecutive years of profitability anchoring its $25 million pre-Series B. Meanwhile, Burger Singh’s franchise-first model shows that capital-efficient expansion strategies are gaining favor in consumer sectors. Weekly Funding Roundup MAR 13-20, 2026 $77M TOTAL RAISED 3DEALS CLOSED MixedSTAGE $25.666666666666668MAVG DEAL SIZE INDIATOP REGION BY STAGE Series B$52M68% Pre-Series B$25M32% BY SECTOR EcofyFintech / Climate Finance$42M Assiduus GlobalAI / E-Commerce$25M Burger SinghQuick-Service Restaurants (QSR)$10M Table of Contents - [1. Ecofy Raises $42M for Green Retail Finance in India](#1-ecofy-raises-$42m-for-green-retail-finance-in-india) [Deal Overview](#deal-overview) - [Investor Profile](#investor-profile) - [Company and Leadership](#company-and-leadership) - [Problem and Opportunity](#problem-and-opportunity) - [Product and Technology](#product-and-technology) - [Use of Proceeds and Vision](#use-of-proceeds-and-vision) - [Market Context](#market-context) - [2. Assiduus Global Raises $25M for AI-Powered Cross-Border E-Commerce](#2-assiduus-global-raises-$25m-for-ai-powered-cross-border-e-commerce) [Deal Overview](#deal-overview-1) - [Investor Profile](#investor-profile-1) - [Company and Leadership](#company-and-leadership-1) - [Problem and Opportunity](#problem-and-opportunity-1) - [Product and Technology](#product-and-technology-1) - [Use of Proceeds and Vision](#use-of-proceeds-and-vision-1) - [Market Context](#market-context-1) - [3. Burger Singh Raises ₹82 Crore (~$10M) for Franchise Expansion](#3-burger-singh-raises-₹82-crore-~$10m-for-franchise-expansion) [Deal Overview](#deal-overview-2) - [Investor Profile](#investor-profile-2) - [Company and Leadership](#company-and-leadership-2) - [Problem and Opportunity](#problem-and-opportunity-2) - [Product and Technology](#product-and-technology-2) - [Use of Proceeds and Vision](#use-of-proceeds-and-vision-2) - [Market Context](#market-context-2) - [Lessons for Founders](#lessons-for-founders) ## 1. Ecofy Raises $42M for Green Retail Finance in India ### Deal Overview - **Stage:** Series B - **Sector:** Fintech / Climate Finance - **Geography:** India - **Round Size:** $42 million - **Key Investors:** British International Investment, Finnfund Digital Access Impact Fund, FMO, Eversource Capital ### Investor Profile This round brings together three major development finance institutions — British International Investment (UK), Finnfund (Finland), and FMO (Netherlands) — alongside existing backer Eversource Capital. The DFI-heavy investor base reflects the blended finance model that climate ventures increasingly rely on, where concessional capital de-risks lending to emerging green asset classes. For Ecofy, this consortium provides not just capital but credibility with banking partners and regulators. ### Company and Leadership [Ecofy](https://ecofy.co.in) was founded in 2022 by Rajashree Nambiar and Govind Sankaranarayanan, who bring a combined 60+ years of experience in banking, financial services, and green product development. Nambiar serves as MD and CEO, while Sankaranarayanan leads operations and fundraising. The company is India’s first green-only non-banking financial company (NBFC), backed by Eversource Capital. ### Problem and Opportunity India’s transition to clean energy is constrained by a financing gap. Consumers and small businesses want electric vehicles and rooftop solar but lack access to affordable, tailored loans. Traditional NBFCs treat green assets as niche product lines rather than core offerings, resulting in generic underwriting that doesn’t account for the unique economics of EVs or solar installations. ### Product and Technology Ecofy provides loans for electric vehicles (2-wheelers and 3-wheelers), rooftop solar installations, energy-efficient equipment, sustainable SME credit, and supply chain financing. The company has built partnerships with over 100 OEMs and 23+ banks and financial institutions. Its fully retail-oriented loan book serves 120,000+ customers with assets under management exceeding ₹1,400 crore (~$165 million). Revenue grew 4.8x to ₹93.3 crore in FY25. ### Use of Proceeds and Vision The funds will expand Ecofy’s lending across rooftop solar, electric vehicles, and SME financing. The company is strengthening its balance sheet and investing in its technology-driven operating model to improve underwriting for emerging green asset classes. The goal is to become India’s premier green finance platform at the intersection of climate transition and financial inclusion. ### Market Context India’s green finance market is projected to reach $1 trillion by 2030. EV penetration is surging, with 2-wheeler EVs growing over 40% annually, and rooftop solar installations are accelerating under government subsidies. Competitors include traditional NBFCs like Bajaj Finance and Shriram, as well as newer green lenders, but Ecofy’s exclusive focus on green assets is unique in the market. ## 2. Assiduus Global Raises $25M for AI-Powered Cross-Border E-Commerce ### Deal Overview - **Stage:** Pre-Series B - **Sector:** AI / E-Commerce - **Geography:** India (HQ in Atlanta) - **Round Size:** $25 million - **Key Investors:** Bajaj Finserv, Uncorrelated Ventures, Aaruha Technology Fund ### Investor Profile Bajaj Finserv leading this round is notable — one of India’s largest financial services conglomerates backing a cross-border commerce platform signals confidence in the company’s unit economics. Uncorrelated Ventures brings US venture capital perspective, while Aaruha Technology Fund adds sector expertise. The mix of Indian financial muscle and global venture backing mirrors the company’s own cross-border positioning. ### Company and Leadership [Assiduus Global](https://assiduusglobal.com) was founded by a solo woman serial entrepreneur and is headquartered in Atlanta. The company has grown into the third-largest technology-led e-commerce distribution and supply chain platform globally. It has quadrupled revenue, tripled its valuation, and maintained profitability (PAT-positive) for seven consecutive years. Assiduus has earned multiple Deloitte Fast 50 recognitions. ### Problem and Opportunity Brands wanting to sell across borders face a fragmented landscape of marketplaces, each with different rules, logistics, and pricing dynamics. Managing inventory, pricing, and fulfillment across 18+ platforms in 20+ countries is operationally complex. Most brands either limit their reach or burn cash trying to manage it manually. ### Product and Technology Assiduus operates an AI-powered cross-border e-commerce accelerator that integrates with 18+ global marketplaces and quick-commerce platforms. The platform provides predictive demand forecasting, pricing intelligence, working-capital optimization, supply chain management, and distribution. It serves 150+ enterprise brands across India, UAE, UK, Denmark, and expanding markets with an end-to-end solution from brand onboarding to fulfillment. ### Use of Proceeds and Vision The capital will deepen AI and data capabilities across predictive demand, pricing intelligence, and working-capital optimization. Assiduus is accelerating expansion across the Middle East, Europe, and Asia-Pacific, with Oman as a regional hub. The company is also strengthening enterprise and government partnerships to cement its position as the AI-powered backbone of global e-commerce distribution. ### Market Context Global cross-border e-commerce is projected to exceed $7.9 trillion by 2030. The platform economy dominated by Amazon, Flipkart, and Noon creates massive demand for multi-marketplace management. Competitors include ChannelAdvisor, Feedvisor, and Anchanto, but Assiduus’s end-to-end distribution model and sustained profitability are distinctive in a space where most players burn cash. ## 3. Burger Singh Raises ₹82 Crore (~$10M) for Franchise Expansion ### Deal Overview - **Stage:** Series B - **Sector:** Quick-Service Restaurants (QSR) - **Geography:** India - **Round Size:** ₹82 crore (~$10 million) - **Key Investors:** Artal Asia, Negen Undiscovered Value Fund, Aurum Rising India Fund ### Investor Profile Artal Asia is part of the Artal Group, a European investment firm with deep expertise in food and consumer brands — their portfolio includes Weight Watchers International. Negen Undiscovered Value Fund focuses on high-growth Indian companies, while Aurum Rising India Fund brings additional domestic capital. The investor mix signals belief in India’s homegrown QSR potential against global chains. ### Company and Leadership [Burger Singh](https://burgersingh.com) is India’s largest homegrown burger QSR chain. The company has built a brand around Indian-flavored burgers that cater to local taste preferences — a positioning that differentiates it from global chains like McDonald’s and Burger King in the Indian market. ### Problem and Opportunity India’s QSR market is dominated by international brands that adapt global menus for local tastes. There is a significant gap for a homegrown chain that builds Indian flavors into its core identity rather than treating them as menu add-ons. With rising disposable incomes and urbanization, demand for affordable, branded dining options is growing rapidly across tier-2 and tier-3 cities. ### Product and Technology Burger Singh offers a menu built around Indian-inspired burger recipes, targeting consumers who want familiar flavors in a modern QSR format. The company operates through a franchise-first model that enables capital-efficient expansion without the heavy overhead of company-owned stores. ### Use of Proceeds and Vision The funds will be deployed to build a scalable franchise-first growth platform, expanding Burger Singh’s footprint across India. The franchise model allows rapid geographic expansion while maintaining brand consistency and keeping capital requirements manageable for the parent company. ### Market Context India’s QSR market is projected to reach $30 billion by 2028, growing at over 18% CAGR. International chains dominate the organized segment, but homegrown brands are gaining share as consumers seek local flavor authenticity. The franchise model has been validated by chains like Wow! Momo and Chai Point, and Burger Singh is applying the same playbook to the burger segment. ## Lessons for Founders - **Profitability is the new growth hack.** Assiduus Global’s seven years of consecutive profitability made it compelling to blue-chip investors like Bajaj Finserv. In the current market, sustainable unit economics speak louder than top-line growth. - **DFI capital is real capital.** Ecofy’s round from British International Investment, Finnfund, and FMO shows that development finance institutions are serious partners for climate-aligned ventures — bringing not just funding but regulatory credibility and institutional trust. - **Franchise-first beats capital-heavy expansion.** Burger Singh’s model demonstrates that asset-light scaling can attract growth-stage capital. Founders in consumer sectors should consider franchise or partnership models before defaulting to company-owned expansion. - **Own your niche before expanding.** Ecofy as India’s only green-only NBFC and Assiduus as a profitable cross-border platform both succeeded by being the definitive player in a specific category rather than a generalist competing everywhere.