Venture capital firm Together Fund is set to close its $150 million Fund-II by June 2025, focusing on investments in artificial intelligence (AI) startups. The firm has already made 31 investments across its two funds and plans to back an additional 19 to 20 startups from the second fund, according to Manav Garg, founder of Eka Software. In a related development, IT services companies are witnessing proactive renewals of contracts, often shorter and smaller in size, driven by AI-led productivity improvements. Additionally, M2P Fintech is reportedly in advanced talks to acquire Chennai-based AI startup Mad Street Den for under $10 million, marking a distress sale for the company, which has previously raised over $50 million. This acquisition is indicative of the ongoing consolidation in the AI sector as companies seek to enhance their technological capabilities.