Plum announced it has raised ₹193 crore (approximately $20.6 million) in a Series B funding round led by Peak XV Partners (formerly Sequoia India) . The round also saw participation from GMO Venture Partners and existing investor Tanglin Venture Partners . The funding values Plum at $125 million (₹1,181 crore) , nearly double its previous valuation of $66 million from its Series A round in 2021 . The round also included a secondary transaction component of about 30%, enabling early backer Incubate Fund Asia to partially exit and realize returns on its seed investment

Communications Minister Jyotiraditya Scindia provided the definitive answer. The delay, he explained, was not a failure of execution but a deliberate strategic choice: India chose to build its own 4G technology stack from scratch rather than buy it from foreign vendors . “The reason why the rollout of 4G has taken time is because we chose to develop our own stack. Countries across the world haven’t done it. India did it in 22 months,” Scindia said at the Times Now Summit .