FIT backs Tamil Nadu photonics startup CCraft with a $126K debt round

CCraft, a Tamil Nadu-based company listed in the photonic chips sector, raised $126K in a debt round led by FIT, according to StartupTalky's running Indian startup funding tracker.

The deal sits in the tracker's December 2025 roundup covering the 16–29 December window — a fortnight that also carried Coreel's $30M Series B led by ValueQuest, Transcon Ind's $27.9M Series B led by Premier Energies and, at the very top of the table, Shriram Finance's $4.42B post-IPO raise with MUFG.

Against that backdrop, CCraft's raise is a footnote by size. But it is a telling one for the shape of the debt market in Indian startups during the period. Four other entries in the same window carried debt labels: True Balance's $75M conventional debt from Community Investment Management, Dugar Finance's $18M conventional debt from Symbiotics Group, Samtel Avionics' $8.3M debt from True North, and a separate undisclosed debt facility for Loopie from Sauce. At $126K, CCraft's is the smallest disclosed debt raise of the fortnight, a spread that runs from $75M down to a six-figure ticket.

Debt has become a routine line item in India's startup funding tables rather than an exception. In the same 16–29 December period, the tracker logs debt alongside seed, angel, Series A through Series F, private equity, grant and post-IPO rounds, spanning sectors from electric vehicles and space tech to fintech and food processing. Photonic chips, CCraft's category, is one of the narrower niches represented on the list.

The tracker does not state what CCraft will do with the proceeds, does not disclose a valuation, and does not describe the structure or terms of the debt. FIT is named as the sole lead investor on the entry. No other investors are listed.

StartupTalky publishes the funding data weekly, tracking company, sector, headquarters, amount, round type and lead investors for each deal. CCraft's entry is dated within the December 16–29, 2025 table.