Capillary to acquire Mastercard’s loyalty business, Session M for 20M USD

Capillary Technologies completed its public listing today, representing a significant milestone for the Indian SaaS ecosystem and for Filter Capital. Established in 2008 by a team of young founders who chose to pursue an ambitious vision over established career paths...

The jury’s focus was on the nominees’ persistence during their lows and execution impact during their highs. Bengaluru-based Capillary Technologies ultimately clinched the award, with the jury praising its tenacity and lauding the team for an impressive turnaround.

R for Rabbit, one of India’s most trusted and fastest-growing baby products brands, has raised USD 27 million in Series B funding through a mix of primary and secondary investments.

Filter Capital, a growth-stage investment firm targeting technology-led businesses in India, has acquired approximately $10 million (84 Cr) worth of stake in M1xchange, India’s leading Trade Receivables Discounting System (“TReDS”) platform.

Capital Connect 2025 played host to the TiE X Oister Top GP Watchlist. Notable honourees included Nitin Nayar and Sumit Sinha, Co-Founders and Managing Partners at Filter Capital, and Sheetal Bahl, Partner at Merak Ventures.

LoadShare, one of India’s largest last-mile logistics providers, announced that it has secured a $5 million financing from British International Investment (BII), the UK’s development finance institution (DFI) and impact investor.

Filter Capital has received capital commitments from a diverse investor base including Indian institutional investors and family offices such as HDFC Fund of Funds, HDFC AMC, SIDBI, SRI Fund, Oister Global, DSP family office, Akash Prakash, the founder of Amansa Capital, and Harsh Jain, the CEO of Dream11.

Capillary Technologies, a company that offers customer engagement and loyalty SaaS products and solutions to enterprises, on February 27 announced a fundraise of $95 million in a secondary deal for its ongoing Series D funding round. The new fundraise will offer exits to its existing shareholders.

Indian technology services industry is massive, with a vibrant start-up ecosystem. However, surprisingly the sector is not an area of focus for venture capital. Our co-founder Sumit Sinha, who has been investing in the space since the early 2000s pens a blog busting some of the myths surrounding the sector, making a case for venture investing in tech services.

Most Indian SaaS companies intend to expand into the US market. However successful market entry requires a compelling strategy. Over the past few years, Filter Capital’s portfolio company Capillary Technologies has laid the groundwork for its US market entry, culminating in its two recent acquisitions.

After closing its Series D fundraise of $45 mn from multiple investors including Filter Capital, Capillary completed its third acquisition in the US, acquiring Tenerity’s Digital Connect Assets.

Filter Capital, alongside a consortium of global investors, continues to extend its support to Capillary Technologies by participating in its Series D fundraise of $45 mn.

Our portfolio company Chalo successfully raised their Series D close of $45 mn.

Filter Capital announced its fourth investment, in healthcare software company THB, partnering with Akansh Khurana and his team as they build Asia’s leading healthcare SaaS platform.

Last mile logistics services platform Loadshare raised a Series C round of Rs 300 Cr led by Tiger Global, with participation from Filter Capital, 57 Stars, and previous investors CDC and Matrix Partners India.