Foundamental Launches Third Construction Tech Fund

18 Sep 2025 CW Team

Foundamental, a venture capital platform focused on project-based sectors such as construction, infrastructure and heavy-industry supply chains, has launched its third fund to strengthen its India and APAC presence alongside other global markets. Led by Berlin-based Managing Partners Shubhankar Bhattacharya and Patric Hellermann, the fund is expected to reach final close by end-2025.

Construction and infrastructure, representing a ~$12 trillion opportunity over the next decade, remain among the least digitised global industries. This gap, Foundamental believes, presents scope for new category leaders in the project economy, which touches nearly a third of global GDP.

“Backing winners and market leaders across continents has helped us compound our knowledge, enabling us to spot the founder traits that win and the business models that endure in the project economy. Being a global investor gives us this distinctive unfair advantage in partnering with Indian founders,” said Bhattacharya, Co-founder and General Partner, Foundamental.

India has become a core market, with portfolio companies like Infra.Market and Infraprime Logistics preparing IPOs. “As India undergoes a once-in-a-century transformation in infrastructure, the need for efficiency, transparency, and technology has never been greater. Fund III allows us to deepen our commitment to India while continuing to invest globally,” added Bhattacharya.

Foundamental has invested in companies such as Enter (Germany), Snaptrude (US), Tazapay (Singapore), Monumental (Netherlands) and Speckle (UK). Its funds rank among the top 10 per cent globally in their vintage years, with all previous LPs returning for Fund III and many increasing commitments.

Infrastructure Urban

05 Nov 2025

TBO Tek Q2 Profit Climbs 12%, Revenue Surges 26% YoY

TBO Tek Limited one of the world’s largest travel distribution platforms, reported a solid performance for Q2 FY26 with a 26 per cent year-on-year increase in revenue to Rs 5.68 billion, reflecting broad-based growth and improving profitability.The company recorded a Gross Transaction Value (GTV) of Rs 8,901 crore, up 12 per cent YoY, driven by strong performance across Europe, MEA, and APAC regions. Adjusted EBITDA before acquisition-related costs stood at Rs 1.04 billion, up 16 per cent YoY, translating into an 18.32 per cent margin compared to 16.56 per cent in Q1 FY26. Profit after tax r..

Northern Graphite, Rain Carbon Secure R&D Grant for Greener Battery Materials

Northern Graphite Corporation and Rain Carbon Canada Inc, a subsidiary of Rain Carbon Inc, have jointly received up to C$860,000 (€530,000) in funding under the Canada–Germany Collaborative Industrial Research and Development Programme to develop sustainable battery anode materials.The two-year, C$2.2 million project aims to transform natural graphite processing by-products into high-performance, battery-grade anode material (BAM). Supported by the National Research Council of Canada Industrial Research Assistance Programme (NRC IRAP) and Germany’s Federal Ministry for Economic Affairs a..

Antony Waste Q2 Revenue Jumps 16%; Subsidiary Wins Rs 3,200 Cr WtE Projects

Antony Waste Handling Cell Limited (AWHCL), a leading player in India’s municipal solid waste management sector, announced a 16 per cent year-on-year increase in total operating revenue to Rs 2.33 billion for Q2 FY26. The growth was driven by higher waste volumes, escalated contracts, and strong operational execution.EBITDA rose 18 per cent to Rs 570 million, with margins steady at 21.6 per cent, while profit after tax stood at Rs 173 million, up 13 per cent YoY. Revenue from Municipal Solid Waste Collection and Transportation (MSW C&T) reached Rs 1.605 billion, and MSW Processing re..