NRI-focused Fintech Startup Belong Secures $5 Million in Seed Funding
NRI-focused fintech startup Belong has successfully raised $5 million in its seed funding round, which was spearheaded by Elevation Capital. The funding round also attracted contributions from Relentless Ventures and several prominent angel investors, including Abhiraj Singh Bahl and Varun Khaitan from Urban Company, Zomato’s CFO Akshant Goyal, Varun Alagh of Mamaearth, Vineet Sethi from PayU, and Aditya Sharma of McKinsey.
The capital raised will be allocated towards acquiring necessary regulatory licences, enhancing its product offerings, and expanding its footprint into regions with a significant NRI presence, such as the Gulf, UK, and US.
Belong’s Launch and Offerings
Founded in 2024 by Ankur Choudhary, Ayush Singh, and Sai Sankar M, Belong has kicked off operations with a USD fixed deposit product created in collaboration with Indian banks situated in GIFT City. This product promises tax-free returns in India, safeguards against rupee depreciation, doorstep KYC services, and hassle-free repatriation.
Regulatory Approvals
Belong has already acquired a Payment Services Provider (PSP) licence as well as a broker-dealer licence from the International Financial Services Centres Authority (IFSCA).
Future Plans for Expansion
In addition to fixed deposits, Belong aims to introduce mutual funds, Indian and US equities, insurance products, and financial cards, all designed within the regulatory framework of GIFT City. The startup has also launched a suite of digital tools tailored for NRIs, including an FD rates explorer, GIFT Nifty tracker, rupee-dollar monitor, and a residential status calculator. Furthermore, Belong is in the process of developing India tax filing services for NRIs.
In related news, Aspora, a Y Combinator-backed cross-border payments startup, successfully raised $53 million last month, led by Sequoia Capital and Greylock Partners.
Linkrunner: Leading App Attribution and Analytics Platform
Linkrunner: Leading App Attribution and Analytics Platform
Linkrunner, an app attribution and analytics platform, has successfully raised Rs 5 crore in a pre-seed funding round. This round was led by Titan Capital, with contributions from angel investor Samir Sood and early-stage venture firm 2AM.VC.
Utilisation of Funds
The funding will be primarily employed for recruiting across engineering, data science, and sales departments. It will also aid in enhancing product innovation and marketing strategies throughout India, as stated in a press release from Linkrunner.
Company Overview
Co-founded by Shreyans Sancheti and Darshil Rathod, Linkrunner is a cutting-edge AI-driven app attribution and analytics platform tailored for modern consumer applications. The platform assists businesses in tracking customer metrics, managing advertising expenditure, and making informed growth marketing decisions based on data.
Market Potential
Market research indicates that the mobile application sector in India generated $10.6 billion in revenue in 2024, with projections showing it could reach $27.7 billion by 2030. This represents a compound annual growth rate (CAGR) of 17.8%. Moreover, India is set to achieve 1 billion smartphone users by 2026.
Rapid Growth and Clientele
In a short span, Linkrunner has attracted significant attention from rapidly growing consumer applications such as Stimuler, Grapevine, Fold Money, Abcoffee, Jumbo Gaming, and Lingopanda. Customers value the efficient onboarding process, typically completed in under an hour, in addition to a clear pricing model and a generous free plan that is ideal for startups.
Vision for the Future
Shreyans Sancheti, co-founder of Linkrunner, noted that existing ad networks like Google and Meta have not acknowledged any Indian mobile measurement partners, thereby limiting choices for consumers. They recognised the absence of a straightforward, cost-effective app attribution platform specifically designed for Indian enterprises.
Future Development Plans
Linkrunner aims to enhance its product and market position by further developing its AI-driven attribution engine, which seamlessly integrates campaign data across various channels. The company is also preparing for potential global expansion beyond India.
Competitive Landscape
The Bengaluru-based firm is in competition with other major players in the market, including AppsFlyer, Branch, Adjust, Singular, Airbridge, Tenjin, and Apptrove.
Trident Growth Partners Invests Rs 120 Crore in Credit Wise Capital
Trident Growth Partners (TGP), a firm specialising in growth-stage private equity, has declared a significant investment of Rs 120 crore in Credit Wise Capital (CWC). This investment is part of a larger fundraising effort amounting to Rs 200 crore, which marks the first institutional funding for the Mumbai-based non-banking financial company (NBFC).
This investment represents the second allocation from TGP’s inaugural fund, valued at Rs 2,000 crore. The capital raised will support the expansion of Credit Wise Capital’s secured lending portfolio, facilitate enhancements to its proprietary SaaS lending platform, and strengthen its presence in underserved tier II to IV cities.
Insight into Credit Wise Capital
Credit Wise Capital was established by Aalesh Avlani and Gurpreet Singh Sodhi, focusing primarily on two-wheeler financing and MSME lending. The company has established a solid presence in 215 cities across 10 Indian states.
Distribution Model
CWC employs a ‘phygital’ distribution approach, which effectively blends physical networks with digital underwriting. This model aims to alleviate credit friction for India’s burgeoning middle class. As of March 2025, the NBFC boasts an impressive asset base of Rs 645 crore, showing substantial growth from Rs 489 crore the previous year, alongside a robust capital adequacy ratio of 31.2%.
Impact on Small-Town India
Credit Wise Capital has successfully financed over 200,000 two-wheelers, which plays a pivotal role in enhancing credit access in small-town India. Trident Growth Partners had previously secured over Rs 1,000 crore in commitments during the initial closing of its debut fund earlier this year, with support from various institutions, family offices, and over 30 distinguished founders.
Qoruz Secures $500K in Funding for Creator Intelligence
Qoruz, a prominent creator intelligence and collaboration platform, has successfully acquired $500K from The Chennai Angels as part of its ongoing pre-Series A funding round, which aims to reach $1 million. This funding round also attracted contributions from a range of senior marketing professionals, agency leaders, and founders within the media and advertising sectors.
Based in Bengaluru, the startup previously raised 4.5 crore during its seed funding round from Dexter Angels and the IIM Indore Alumni Fund.
According to Qoruz, the funds will be utilised to enhance its AI capabilities, penetrate new market verticals, and strengthen its international footprint, particularly concentrating on the Middle East and Southeast Asia.
Founding and Purpose of Qoruz
Established in 2014 by Praanesh Bhuvaneswar, Prabakaran B, Aditya Gurwara, and Priya Vivek, Qoruz serves as a creator intelligence and collaboration platform. It aids brands in discovering, assessing, and collaborating with creators to produce quantifiable business results. The platform encourages marketers to view creator collaboration as a systematic, data-driven channel rather than relying solely on intuition.
Vision for the Creator Economy
Praanesh Bhuvaneswar, co-founder and CEO of Qoruz, expressed that the company aims to develop not just a platform but an entire ecosystem for the creator economy, positioning creators at the centre of product discovery, trust, and purchasing. He explained that for meaningful scaling, it necessitates more than just connections; it requires robust infrastructure. The provided capital will empower Qoruz to solidify this foundation and introduce operational precision into an area that has traditionally thrived on instinct.
Future Growth Targets
Qoruz has set an ambitious goal to achieve $30 million in annual recurring revenue (ARR) by 2026, with plans to grow threefold year on year in enterprise client adoption. The company proudly states that its platform has been employed by more than 1,000 brands and agencies, including notable names like Amazon, Flipkart, Jiostar, Dabur, L’Oréal, and Coca-Cola.
Divine Hindu Secures Seed Funding for Spiritual Lifestyle Expansion
Spiritual lifestyle brand Divine Hindu has successfully raised Rs 1.56 crore in a seed funding round provided by BeyondSeed, D2C Insider Super Angels, and Signal Ventures.
The funds will be aimed at enhancing brand development both in India and globally, as well as expanding the range of spiritual products offered. Additionally, Divine Hindu intends to create an online community centred around Hindu traditions, as detailed in a press release.
Product Offerings and Mission
Co-founded by Aniruddha Singhai and Anurodh Singhai, Divine Hindu provides certified devotional and spiritual items that include Rudraksha, Tulsi, Karungali, sandalwood, agarbatti, brass idols, puja kits, sacred jewellery, gemstones, and religious literature. Each product is meticulously chosen to uphold ritual purity, support traditional artisans, and deliver beautifully crafted spiritual items that consumers can trust.
Expansion Plans
Divine Hindu is on a mission to broaden its reach throughout India via e-commerce platforms such as Amazon, Flipkart, Myntra, Blinkit, Zepto, and Instamart. Furthermore, the brand plans to venture into international markets, starting with Amazon Global, targeting countries like the US, UK, UAE, and Canada. There are also plans in place for the introduction of new products, including curated puja kits and spiritual wearables.
WiseLife Secures Funding to Elevate Yoga and Fitness Products
WiseLife, a brand focusing on yoga and home fitness essentials, has successfully raised Rs 8 crore in a pre-Series A funding round led by Rukam Capital. The brand gained significant attention after appearing on Shark Tank India Season 3, securing investments from all four sharks: Aman Gupta, Anupam Mittal, Ritesh Aggarwal, and Namita Thapar.
Previously, the startup acquired $145K in seed funding in September 2024.
The newly acquired funds will be directed towards establishing WiseLife as India’s premier brand for eco-friendly yoga mats and wellness products that skillfully combine unique design with affordability, as stated in a recent press release.
About WiseLife and Its Mission
Founded in 2022 by Prateek Kedia, WiseLife is committed to enhancing everyday wellness through thoughtfully designed yoga gear. The brand features a carefully selected range of biodegradable yoga mats, fitness equipment, and lifestyle accessories, all while prioritising durability, design, and sustainability at accessible price points.
Market Opportunity for Yoga Products
Market data indicates that India’s yoga mat market is anticipated to expand from $1.4 billion in 2024 to $2.2 billion by 2033. Meanwhile, the global market is projected to reach $26.5 billion by 2030.
Future Aspirations of WiseLife
WiseLife aims to explore innovative ideas and develop even more exceptional products and content for yoga and fitness enthusiasts. The brand is actively building a robust customer base and has plans to introduce new product lines, enhance content and community engagement, and broaden distribution in the upcoming year.
InPrime Finserv, a tech-enabled NBFC, has successfully acquired Rs 50 crore ($6.02 million) in a Series A1 funding round. This investment was spearheaded by Pravega Ventures, with involvement from current investors Z47, InfoEdge Ventures, and Kettleborough VC.
Previous Investment and Future Plans
The Bengaluru-based firm had earlier raised $4.55 million from its existing investors. The capital raised will facilitate their expansion into additional geographic areas, as stated by InPrime Finserv in a recent press release.
Focus on Informal Prime Households
Established in 2021 by Sneh Thakur, Manish Raj, and Rajat Singh, InPrime Finserv is dedicated to catering to India’s informal prime households. These households represent aspirational clients who possess steady incomes and a significant desire for upward mobility. This demographic encompasses micro and nano entrepreneurs, self-employed professionals, small business owners, as well as individuals involved in farming and related agricultural sectors.
Expansion Goals
Over the forthcoming year, the company is targeting expansion to approximately 50 new locations, effectively broadening its presence across Karnataka, Uttar Pradesh, Rajasthan, and Haryana.
Impact and Future Growth Strategy
Since its inception, InPrime Finserv claims to have supported over 7,500 households by offering nearly Rs 100 crores in credit to the emerging middle class. Additionally, the company is looking to explore strategic co-lending partnerships to enhance and diversify its capital base.
Khetika: Clean-Label Food Company Raises $18 Million for Expansion
Khetika Secures $18 Million in Funding Round
Khetika, a clean-label food company from Mumbai, has successfully raised $18 million (Rs 153 crore) in a funding round, which was primarily led by the Narotam Sekhsaria Family Office in collaboration with Anicut Capital.
This funding round also welcomed contributions from existing backers such as Incofin India Progress Fund, Rajasthan Gum Pvt. Ltd., and Shree Ram India Gums Ltd.
As reported by ET, this funding round consisted of 70% primary capital, with the rest being secondary capital.
The funds will be allocated towards brand development, expansion both domestically and internationally, product innovation, and the establishment of new manufacturing units. Khetika is gearing up to penetrate markets in Europe, the Middle East, and the USA, in response to the rising demand for premium Indian food products globally.
About Khetika’s Offerings
Founded in 2017, Khetika operates in the staples sector, providing preservative-free products such as batters, spices, chutneys, millet-based foods, makhana, dry fruits, and rice.
The company sources its products directly from farmers across 14 Indian states, including Rajasthan, Gujarat, Punjab, Haryana, Andhra Pradesh, and Bihar. Currently, Khetika operates four manufacturing facilities throughout India.
Distribution Model of Khetika
Khetika employs an omnichannel distribution strategy, leveraging major e-commerce and quick commerce platforms while also maintaining a dedicated B2B supply network called SuperZop, which serves traditional kirana stores.
As kirana stores continue to be the predominant revenue channel for Khetika, quick commerce has made substantial contributions, accounting for 25% of overall sales, and is the fastest-growing segment for the company.
Indian Startups Funding Overview – Week of $290.28 Million
Indian Startups Funding Overview
Indian startups have recently attracted significant attention as they secured a total of approximately $290.28 million during the week. This funding spanned across 9 growth-stage and 15 early-stage deals, while 2 startups opted not to disclose their funding amounts.
Growth-Stage Funding Insights
In the realm of growth and late-stage financing, a substantial amount of $258.5 million was raised, with B2B marketplace Jumbotail leading the pack by securing a remarkable $120 million round from SC Ventures, marking its entry into the unicorn club. Infra.Market followed with a $50 million debt injection from Mars Growth Capital. Additionally, consumer brand Eggoz and spiritual tech enterprise AppsForBharat each raised $20 million in their Series C rounds. Other noteworthy fundraises included D2C lab-grown diamond brand Aukera, NBFC FincFriends, sustainable packaging venture Bambrew, agri-tech company Eeki, and sports brand Agilitas Sports.
Early-Stage Investments
Early-stage startups collectively raised around $31.78 million, dominated by regulatory compliance platform Zango AI, which garnered $4.8 million in its Seed round led by Nexus Venture Partners. Deeptech startup Maieutic Semiconductor and fertility-tech company Luma Fertility also made headlines, alongside AjnaLens and B2B infrastructure platform Blostem, which also secured funding but did not disclose the amounts.
City-Wise and Segment-Wise Breakdown
Bengaluru-based startups led the week with 9 funding deals, closely followed by Delhi-NCR with 8 deals. Startups from Chennai, Mumbai, Thane, and other regions also bagged funding.
In terms of industry segments, e-commerce, foodtech, and deep tech startups each achieved 4 deals. AI startups followed with 3 deals, while fintech and biotech startups secured 2 deals each. Proptech, spiritual tech, agritech, and other startups also successfully raised funds this week.
Series-Wise Funding Breakdown
Seed funding led the overall funding structure with 10 deals, followed by pre-Series A with 5 deals. Series C, Series A, and Debt rounds also contributed to the overall fundraising landscape.
Weekly Funding Trend Analysis
Compared to the previous week, there was a marginal decline in startup funding of approximately 7%, dropping to $290.28 million from $312.69 million. The average funding over the last eight weeks stands at about $217.64 million, with around 23 deals per week.
Key Appointments and Departures
This week saw significant personnel changes within various firms. Fintech platform MobiKwik promoted Saurabh Dwivedi to CTO and Dhruv Wadhera to SVP, Offline Payments, to enhance their operational backbone. Meanwhile, IPO-bound company Pine Labs appointed Sameer Kamath as their new Chief Financial Officer. Glance appointed Amit Bansal to spearhead AI-led commerce initiatives with Roposo. Wellbeing Nutrition entrusted Varun Kandhari with the role of Chief Marketing and Growth Officer.
Mergers and Acquisitions
In notable acquisitions, Zoho Corporation has absorbed Kochi-based deeptech startup Asimov Robotics. Established in 2012, Asimov Robotics specializes in developing robotic solutions aimed at helping industries handle hazardous and repetitive tasks.
New Partnerships and Launches
Policybazaar has announced a partnership with Whilter.AI to enhance engagement levels, and TiE Bangalore has teamed up with the Aerospace India Association to support startup development.
Financial Results for the Week
Curefoods reported a revenue of Rs 746 crore in FY25, demonstrating a 95% growth in dessert-led income. Additionally, the virtual spiritual app Vama has seen its revenue double in FY25.
News Highlights
Meesho has filed a confidential DRHP to secure $500 million in primary capital. The government has updated ride-hailing regulations: introducing a 2X surge cap, cancellation fees, and promoting bike taxis. Indian startups raised $6.7 billion in H1 amidst IPO discussions according to the Startup Superb Report. Flipkart-backed logistics venture Shadowfax has also filed a confidential DRHP with SEBI. In the electric vehicle segment, TVS Motor Company has taken the lead in 2W sales for June, while Ola Electric continues to lag behind Bajaj, which is now in second place. UPI experienced a slight decrease in June, processing 18.4 billion transactions. Finally, Think360.ai, associated with CAMS, made it to the esteemed 2025 AIFinTech100 list by FinTech Global, showcasing its innovative contributions in financial services.
FES Cafe: Leading the Dessert Cafe Movement in India
FES Cafe: Leading the Dessert Cafe Movement in India
Dessert-led cafe chain FES Cafe has successfully secured Rs 3 crore in a seed funding round, which was spearheaded by Aakash Anand and his venture studio Wolfpack Labs. The newly acquired funds will assist in their expansion efforts, notably their entry into Delhi this July, while also propelling their ambition to establish a nationally recognized, dessert-first cafe brand that emphasizes culture, community, and indulgence, as noted by FES Cafe in a recent press release.
About FES Cafe
Founded by Vidur Mayor, FES Cafe is an eggless dessert cafe chain dedicated to indulgence, innovation, and creating a sense of community. It aims to serve as a third space for the youth of India by providing baked cookies, puddings, cakes made from alternative ingredients, seasonal desserts, savoury dishes, dynamic dessert menus, arcade game sections, and community-focused events like Coffee Raves to curate a unique cafe experience.
Impressive Growth Metrics
Since its inception, FES Cafe has achieved remarkable milestones; it has tripled its revenue within the first three months, reached a store-level EBITDA of 29.8% by the fourth month, and increased delivery revenue by 347% in just 90 days. By June 2025, the cafe was handling over 10,000 monthly orders and became EBITDA-positive at the company level within four months.
Expansion Plans for FES Cafe
The Gurugram-based cafe is set to unveil its first outlet in Delhi this July, followed by another store in Gurugram situated in a corporate park in September 2025. With an ambitious target of launching over 100 stores by FY 2027 across Tier 1 and Tier 2 cities, FES Cafe is also creating a hybrid COCO and FICO model, alongside delivery-centric hubs and packaged dessert options to enhance its reach beyond just brick-and-mortar cafes.
