In Full Blume | From Brain Health to Space Tech, and a 15-Year Celebration | March 2026Updates from the Blume portfolio
Here’s a look at what Blume’s portfolio companies were up to in March. This month was packed with new beginnings, bold expansions, and a celebration of how far we’ve come. We welcomed two exciting new companies into the Blume portfolio: Mave Health, building wearable brain stimulation technology for focus and mental wellness, and Bidso, a design-led manufacturing platform positioning India as a global toy powerhouse. Euler Motors (Fund III) closed $47M Series E round to scale commercial EV production, while OZi (Fund V) raised a $6.2M Series A to take quick commerce deeper into the parenting space. Pixxel (Fund III) made history as the first Indian space startup to be selected for a NASA contract — part of a $476M multi-award programme for hyperspectral earth observation data. Ultrahuman (Fund III) had a blockbuster month with Ring PRO pre-orders and a HYROX title partnership. And Namma Yatri’s parent company, Moving Tech, expanded into Europe with a bold open-mobility play. Meanwhile, Karthik B. Reddy kicked off a three-part series celebrating Blume Days, one of the longest-standing VC traditions in India. Let’s get into it. 👇 Welcome to the Blume FamilyFixing Focus, One Session at a Time: Mave Health Raises $2.1M (~₹18 Cr) Seed Round Mave Health (Fund V) raised $2.1M in a seed round led by us, with participation from All In Capital, Inuka Capital, Stanford Angels, and Aureolis Ventures. Founded in 2023 by Dhawal Jain, Jai Sharma, and Aman Kumar, Mave Health has built a wearable headset that uses gentle, targeted transcranial direct current stimulation (tDCS) to improve focus, mood, and stress regulation in just 20 minutes a day. Co-founder and CEO, Dhawal Jain shared their journey in an X post:
The fresh capital will go towards scaling production, deepening the clinical evidence base, and expanding into new markets.
Making India the Toy Factory of the World: BIDSO Raises ₹63 Cr (~$6.7M) Until 2019, China supplied over 85% of India’s toy imports. Then customs duty jumped from 20% to 70%, quality controls tightened, and India flipped from a net importer to a net exporter. Today, the domestic toy market is worth $2B and growing at ~10% annually. But there’s a gap. Most Indian manufacturers still rely on decades-old moulds, replicate Chinese designs, and operate as basic OEMs. The demand has shifted; the supply side hasn’t caught up. BIDSO (Fund V) is built to fill that gap. Founded by XLRI batchmates Vivek Singhal, Rahul Agarwal, and Aditya Krishnakumar, the company operates as an ODM (Original Design Manufacturer) — designing its own products informed by marketplace data, rather than just manufacturing to spec. It’s a fundamentally different model, and one that positions India not just as a maker, but as a creator. We led Bidso’s $6.7M (~₹63 Cr) round, with participation from PeerCapital and Sadev Capital. Read our investment note on BIDSO here.
Funding Updates From Our PortfolioPowering India’s Commercial EV Revolution: Euler Motors Raises $47M (~₹437 Cr) Euler Motors (Fund III) has raised $47M in a funding round led by Lightrock. We participated in the round along with Hero MotoCorp. The company has also secured ₹250 Cr in debt financing from BlackSoil, Trifecta, InnoVen Capital, and Alteria Capital. Founded by Saurav Kumar in 2018, Euler Motors is a leading commercial electric vehicle manufacturer building purpose-built electric three- and four-wheeler cargo vehicles for last-mile logistics. The fresh capital will be deployed to double production capacity to 2,000 vehicles per month, with a third manufacturing unit set to go live in the next six months. Around ₹400 Cr will be invested over the next 18 months across R&D, tooling, product development, and expansion. Quick Commerce Meets Parenthood: OZi Raises $6.2M (~₹54 Cr) OZi (Fund V) has raised $6.2M in a new funding round, led by RTP Global. We participated in the round along with Huddle Ventures and Zeropearl VC. Founded by Amit Sah, OZi is a quick commerce platform purpose-built for baby and kids’ products. With over 15,000 products across fashion, toys, nursing essentials, baby care, school supplies, pharmacy, and gifting — OZi operates 24x7, delivering within 60 minutes across Gurugram and Noida. As founder Amit Sah shared: “Parents today have plenty of options, but very little time. Finding the right product often means jumping across multiple apps, comparing and second-guessing. With OZi, we wanted to simplify that — one place where parents can quickly find what they need and trust what they’re buying.” New Launches and Product MomentumFirst Indian Space Startup Selected for a NASA Contract: Pixxel Pixxel (Fund III) was selected by NASA as part of a $476 million multi-award contract under the Commercial SmallSat Data Acquisition (CSDA) Program, alongside seven other global companies. Running until November 2028, this makes Pixxel the first Indian startup to be part of such a programme since the sector opened to private firms in 2020. Pixxel’s hyperspectral imaging technology offers detailed insights into climate change, agriculture, biodiversity, and resource management — capabilities that earned it a place alongside established players like Planet and BlackSky in NASA’s commercial data ecosystem.
Namma Yatri’s Parent Company Expands Into Europe Moving Tech Innovations, the parent company behind Namma Yatri (Fund IV), welcomed Automicle into the Moving Tech family — marking its expansion into Europe with a care-mobility focus. As co-founder Shan M S shared: “Europe is ahead in public transport, yet some mobility challenges feel universal — high commissions for drivers, platform monopolies, weak connectivity in underserved markets, and fragmented care and social rides. Cities need models that preserve local ownership and control.” Automicle will operate independently as Moving Tech Europe, bringing integrated mobility and parking expertise to the European market, while Moving Tech brings its battle-tested open protocol technology from India. Know more about the expansion here Ring PRO and HYROX: Ultrahuman’s Blockbuster Month Ultrahuman (Fund III) had an action-packed March across two major fronts: Ring PRO Launch: Ultrahuman launched Ring PRO for pre-order in the US and worldwide — featuring a fighter jet-grade titanium unibody, 15-day battery life, and the most advanced ring charger ever built. US pre-orders opened at $349 (early bird), with shipping expected from May 15. HYROX Title Partnership: Ultrahuman signed on as the title partner for HYROX Bengaluru — India’s first two-day HYROX event, scheduled for April 11–12 with over 8,200 registrations, deepening its connection to the competitive fitness community in India.
Voice AI With Eyes: SquadStack Launches Humanoid Vision Agent SquadStack (Fund II) launched Humanoid Vision Agent — the first Voice AI agent with visual understanding. Before a call even connects, the agent processes product images, cross-references the seller’s catalogue, and parses listings for every attribute that doesn’t need asking. The company also hit its highest-ever volume of autonomous AI conversation minutes in February, fueled by a surge in live enterprise deployments. As the team put it: “The market has moved from curiosity to conviction.” Agentic Procurement Goes Live: Procol Launches Clara Procol (Fund III) launched Clara — an autonomous AI platform that manages the full procurement lifecycle, from sourcing and contract negotiation to supplier management, invoicing, and payment processing. The platform’s AI agents are trained on contextual procurement data from 200+ enterprises across 10+ countries, allowing enterprises to deploy agents tailored to their specific industry and workflows. To cap the month, Everest Group recognised Procol among the top 10 global platforms in their latest report on Agentic AI Applications in Procurement — the only vendor from India on the list. WizCommerce Unveils Refreshed Platform WizCommerce (Fund IV) launched a major platform refresh. As founder Divyaanshu Makkar shared: “We grew from a single product into a multi-product platform. We went deeper into real wholesale workflows — trade show selling, inside sales, payments, reorders. We layered in AI to remove the repetitive operational work. We became the AI platform for modernizing wholesale sales and operations.” Explore the new WizCommerce here 15 Years of Blume Days | The Little ThingsThis month, Karthik B. Reddy, co-founder and partner, Blume Ventures, kicked off a heartfelt series of posts celebrating Blume Day, one of the longest-standing VC traditions in India. Here are the first three posts, with more on their way. #1: The Venue — NCPA, Mumbai After years across iconic Mumbai landmarks — Breach Candy Club, Willingdon Club, Tote on the Turf, and Trident BKC — Blume settled at St. Regis in 2019 before making the move to NCPA (National Centre for Performing Arts) for a venue that matched the scale and spirit of what Blume Day has become. (Full post on LinkedIn) #2: Personal Journeys A video tribute (built entirely using archived material and AI tools) celebrated the families behind the founders and the Blume team. As Karthik reflected: “We’re forever grateful for the support that families provide in entrepreneurial journeys.” (Full post on LinkedIn) #3: The OG Selfie Kings and Queens A reel showcasing 15 years of working moments captured in selfies — with founders, investors, kids, weddings, and every life milestone in between. A reminder that behind every portfolio update, there’s a deeply personal journey. (Read the full post) That’s all this month. See you next month. Team Blume Thanks for reading In Full Blume! In Full Blume gives you a lowdown on what our portfolio companies and team members have been up to in the past month. You may want to check out Blume Fieldnotes, another newsletter from Blume’s stable, that curates the best reads and unmissable insights amassed by the team. Stay tuned.
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Thursday, 2 April 2026
In Full Blume | From Brain Health to Space Tech, and a 15-Year Celebration | March 2026
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