Indian Startups Raise $147.64 Million This Week

This week, Indian startups attracted approximately $147.64 million, with 4 growth-stage and 19 early-stage deals, while 3 startups opted not to disclose their funding amounts. This marks a decrease from the previous week, where 47 startups had collectively raised about $354 million.

Growth-Stage Deals

This week, growth-stage funding amounted to $77.8 million across four transactions. Easy Home Finance, a home loan provider based in Mumbai, secured $30 million during a Series C round, with Investcorp leading the funding. Aerospace company JJG Aero raised $30 million in a Series B round from Norwest Venture Partners. The precision oncology firm 4baseCare obtained Rs 90 crore ($9.8 million) in the first phase of its Series B round, co-led by Ashish Kacholia and Lashit Sanghvi, with support from returning investor Yali Capital. Additionally, legal-tech company SpotDraft raised $8 million in a Series B extension from Qualcomm Ventures.

Early-Stage Deals

Early-stage funding for this week reached $69.84 million across 19 deals. The spacetech venture The Guild, previously known as EtherealX, raised $20.5 million in a Series A round led by TDK Ventures and BIG Capital. Bengaluru-based AI semiconductor firm Agrani Labs led with $8 million during its seed round, backed by Peak XV Partners. Healthtech venture Nivaan Care, along with rare earth metal manufacturer Vimag Labs, deeptech company Vimag Labs, and everyday-wear brand Cava Athleisure, also received funding this week. Legaltech firm SBC LLP, AI startup TakeTwo, and spacetech company Sanyark Space secured funds, although the specific amounts were not disclosed.

City and Segment-wise Deals

Bengaluru led the deal count with 14 transactions, followed by Delhi-NCR with 5 and Hyderabad with 2 deals. Mumbai and Chennai also had one deal each this week. In terms of sectors, deeptech startups led, recording 6 deals, while AI followed with 4. Other segments such as healthtech, fintech, aerospace, legaltech, and e-commerce also attracted funding during this timeframe.

Series-wise Deals

This week, seed rounds topped the funding landscape with 8 transactions, while Series A and pre-seed rounds each recorded 5 deals. Series B, Series C, and pre-Series A also noted transactions. For detailed pay breakdown and insights, further information can be accessed.

Week-on-week Funding Trend

Startup funding experienced a significant decline of 58% this week, totalling $147.64 million compared to the previous week’s $353.81 million. The average funding over the last eight weeks has settled at approximately $192.27 million, with 24 deals occurring per week.

Key Hirings and Departures

Jungle Ventures recently appointed Amrit Raj as its first Partner and Chief Marketing Officer. Easebuzz welcomed Parimal Kumar Shivendu as Executive Director and included him on its Board of Directors. Deepak Sahni, the founder of health tech enterprise Healthians, has stepped down after a decade at the Gurugram-based company.

Mergers and Acquisitions

Macobs Technologies, the parent company of Menhood, is entering the protein supplementation sector and has signed a share purchase agreement to acquire a 50.01% stake in the health and wellness brand Getmymettle for Rs 10.5 crore.

Layoffs

Delhi NCR-based gaming startup Zupee is set to lay off approximately 200 employees, which constitutes nearly 40% of its workforce, as part of cost-reduction efforts following the ban on real money gaming. Meanwhile, Ola Electric announced it would reduce its workforce by about 5% as it aims to enhance automation in its front-end operations.

Fund Launches

Navam Capital has completed the final close of its inaugural fund, Navam Venture Fund-I (NVF-I), raising Rs 250 crore and exercising its green shoe option to conclude at over Rs 315 crore ($35 million). Red Vanda Partners, based in Aizawl, has launched the Bana Kaih Venture Capital Fund targeting Rs 100 crore ($11 million).

New Launches and Partnerships

Startup Superb has initiated a new project titled Not Just Business. Taghash has unveiled a services layer aimed at enhancing fund operations and compliance. Furthermore, Pine Labs has partnered with UAE’s Wio Bank to develop a payment acquiring system.

Financial Results This Week

CRED has reported Rs 2,735 crore in revenue for FY25, with operating losses decreasing by 51%. Plush has achieved a 2.3X growth in revenue to Rs 66 crore in FY25. Paytm disclosed Rs 2,194 crore in revenue and a Rs 225 crore profit for Q3 FY26. In the same quarter, Swiggy reported Rs 6,148 crore in revenue, with losses increasing by 32%. Vedantu revealed Rs 227 crore in revenue for FY25, and Pine Labs recorded a profit of Rs 42 crore in Q3 FY26, with a revenue increase of 24%. CarTrade posted Rs 210 crore in revenue for Q3 FY26, with profits increasing by 35%. Drishti IAS achieved Rs 364 crore in revenue and a Rs 61 crore PAT in FY25. WeWork India posted a profit of Rs 17 crore in Q3 FY26, with a 29% revenue growth. The Whole Truth experienced a 3.3x revenue growth to Rs 216 crore in FY25.

News Flash This Week

Turtlemint has submitted an updated draft red herring prospectus (DRHP) for Rs 660 crore fresh issue IPO. The Startup Superb Report indicates that India’s agritech sector is at an inflection point, marking a funding revival with profitable models and consolidation. Shadowfax made a cautious debut in the stock market, listing at a 9% discount. Ola Electric’s electric two-wheeler market share has plummeted to below 6% in January 2026, down from 24.8% a year prior.

Summary

Throughout this week, startup funding has seen a 58% decline, amounting to $147.64 million compared to approximately $353.81 million from the previous week. Insurtech firm Turtlemint has filed an updated DRHP with SEBI for its IPO, which features a fresh equity issue worth Rs 660 crore (around $73.3 million) alongside an offer for sale (OFS) of 2.86 crore shares. Once considered one of India’s most promising startup segments, the agritech field experienced a robust momentum in 2021–22 thanks to investor interest and government support before witnessing a slowdown in funding in subsequent years. As reported by Startup Superb, roughly 160 agritech startups raised over $2 billion in 253 deals from January 2020 to 2025, with growth-stage firms accounting for $1.63 billion across 62 deals, and early-stage ventures raising $531 million in 191 deals. The Indian electric two-wheeler market has undergone significant changes, with Ola Electric, under the leadership of Bhavish Aggarwal, losing market position after a dominant run of over 35% in 2024. As of January 2025, its market share dipped to 14.9%, selling around 2.04 lakh units, down from 4.07 lakh registrations and a 35.47% market share in 2024, and recently falling below 6%. Logistics and last-mile delivery company Shadowfax Technologies had a subdued stock market debut on Wednesday, listing at Rs 112-113 on the NSE and BSE, nearly 9% less than the IPO’s upper price band of Rs 124. The company raised approximately Rs 1,907 crore through its IPO, which was open for subscription from January 20 to 22.