Daily Update: Lumiq Raises Strategic Funding From Bajaj Finserv, Info Edge; Novva Group Acquires 120 MW Philippines Solar Project

LUMIQ RAISES STRATEGIC FUNDING FROM BAJAJ FINSERVE, INFO EDGE

LUMIQ, an AI-native financial services company, Friday said it has raised a strategic funding round to scale auto-decisioning for financial institutions across the United States and Southeast Asia. The round was led by Bajaj Finserv, one of India’s largest and most diversified financial services groups, with participation from existing investor Info Edge Ventures.

Vaibhav Dobriyal, Co-founder and Chief Product Officer, LUMIQ said,” This round funds four priorities: expanding go-to-market in the US and Southeast Asia; deepening LiteCone’s decisioning capabilities; extending the agent workforce across more financial-services roles; and building a partnership ecosystem with cloud hyperscalers, AI labs, and core banking and insurance platforms so LiteCone is embedded where institutions already run.”

Lakshmi Iyer, Group President – Investments & CEO, Bajaj Alternates: “Our conviction is grounded in what LUMIQ has already built. Their AI agents aren’t just built for the future. They are operating in production today, at speed. This combination is rare, and its value will only compound as the company scales globally.”

Freepik

NOVVA GROUP ACQUIRES 120 MW PHILIPPINES SOLAR PROJECT, ANCHORING ITS AI-ERA POWER PLATFORM IN SOUTHEAST ASIA

NOVVA Group,, a global AI-enabling energy infrastructure platform, Friday said it has signed a definitive agreement to acquire 100% of San Jose Solar Power Plant, a utility-scale solar PV project in Bukidnon, Mindanao, from Mabuhay Power Holdings Corporation. 

The acquisition marks Novva’s first investment in the Philippines and a critical milestone in its strategy to build a scalable, bankable power platform across Southeast Asia. The companies did not disclose terms of the transaction.

SJSP is a 120 MWp greenfield solar project located in Barangay San Jose, in the Municipality of Quezon, Bukidnon. Once operational, it is expected to generate over 200 GWh of clean electricity per year. Construction is scheduled to begin in Q1 2027, with commercial operation targeted for 2028.

The transaction comes amid an unprecedented surge in Asian power demand, driven by the rapid expansion of artificial intelligence, cloud computing, and digital infrastructure. With energy availability emerging as the primary constraint on sustained economic growth, resilient power infrastructure has become vital. The project also advances the Philippines’ goal of a 35% renewable energy share by 2030, channelling clean capacity into one of Southeast Asia’s fastest-growing digital economies.

Steven Liu, Founder and CEO of Novva, said: “Power availability has become one of the defining constraints on future growth. With SJSP, we are securing the strategic infrastructure needed to support the next wave of industrial and digital development. By combining disciplined execution with long-term partnerships, Novva is building a reliable clean energy foundation to power the future of Southeast Asia.”

SJSP will integrate directly into Novva’s regional platform, which combines renewable generation, flexible power solutions, energy storage, grid connectivity and infrastructure financing capabilities. Novva remains committed to scaling clean energy capacity to sustain the next generation of hyperscale data centres and digital economies.