Indian Startups Funding Highlights – $242.88 Million Raised This Week
This week, Indian startups raised $242.88 million, with 5 growth-stage and 17 early-stage investments, while details for one startup’s funding were not disclosed. The prior week saw 34 startups collectively obtaining around $334.88 million.
Growth-stage Deals
Growth and late-stage funding this week totalled $154.7 million over five transactions. MoEngage led the rounds, securing $100 million in its Series F financing from Goldman Sachs and A91 Partners. Spacewood Furnishers received Rs 300 crore ($36 million) from A91 Partners, robotics startup Miko attained $10.5 million (Rs 93.5 crore) led by iHeartMedia, and Agnikul Cosmos received Rs 60 crore ($6.7 million) from Advenza Global and Atharva Green Ecotech after a gap of two years. The Policy Exchange, an insurtech platform, also acquired funding this week.
Early-stage Deals
In early-stage investments, 17 startups raised approximately $88.2 million this week. Giga stood out with a $61 million Series A round from Redpoint Ventures, Y Combinator, and Nexus Venture Partners. Zynk secured $5 million in seed funding led by Hivemind Capital, and Stackbox obtained $4 million from Enrission India Capital. Other startups receiving funding included TABP (snacks and beverages), BabyOrgano (D2C Ayurvedic wellness), MeshDefend (AI security), and Ulook (space-tech), among others. AI infrastructure company Sistema.bio also secured undisclosed funding, whereas Bajaj Financial Securities acquired stakes in Bengaluru-based customer data platform Lemnisk, providing partial exits for early investors, including growX Ventures.
City and Segment-wise Deals
In terms of city-specific deal counts, Bengaluru secured the lead with nine transactions, followed by Delhi-NCR with six. Mumbai, Ahmedabad, Nagpur, Chennai, Coimbatore, and Indore also reported deals during this week.
Segment-wise, e-commerce startups took the lead with five deals, trailed by artificial intelligence startups, which garnered four deals. Areas like spacetech, adtech, robotics, and fintech also benefited from funding during this time.
Series-wise Deals
This week, seed rounds led the funding activity with eight transactions, followed closely by pre-Series A and Series A rounds with three and two deals, respectively. Series F, Series D, Series C, and others also saw participation. Various sources can provide details regarding series-wise deals along with monetary breakdowns and additional insights.
Week-on-week Funding Trend
Funding for startups fell by 27.6% on a week-by-week basis, dropping to $242.43 million compared to approximately $347.44 million from the previous week. The average funding over the past eight weeks is around $345.2 million across 25 deals each week.
Key Hirings / Departures
EaseMyTrip appointed Sankalp Kaul as CTO, taking over from Naimish Sinha, who left for personal reasons. GoKwik promoted Abhinav Midha to CBO, and BharatPe selected Shilpi Kapoor to lead marketing efforts. Delhivery’s CFO Amit Agarwal announced his resignation effective December 31, 2025, with Vivek Pabari stepping in as CFO and Key Managerial Personnel starting January 1, 2026. AI-driven digital classroom platform Roombr has named Fayyaz Hussain as Chief Growth Officer (CGO). Aakash CFO Vipan Joshi has resigned after a nine-year tenure, while Zepto’s meat business CEO Chandan Rungta has departed less than a year after taking up the role.
Fund Launches
ChrysCapital has finalised Fund X at $2.2 billion, marking the largest private equity fund raised by a firm focused on India. Lighthouse Canton secured $40 million in a strategic round led by Peak XV Partners, with contributions from Nextinfinity and existing investor Qatar Insurance Company. Former investment banker Dhruv Jhunjhunwala has established Novastar Partners, aimed at India’s private markets.
Mergers and Acquisitions
Social gaming platform Zupee has acquired Australian AI startup Nucanon for an undisclosed amount, aiming to create a new storytelling vertical. Spinny is preparing to acquire car servicing platform GoMechanic from its current owners. PB Fintech’s healthcare division, PB Health, has acquired Mumbai-based healthtech startup Fitterfly to enhance its chronic disease management offerings. The circular economy startup Black Gold Recycling has obtained a majority stake in Reteck Envirotech, the Indian division of the global reverse supply chain leader Li Tong Group.
Layoff
The on-demand logistics platform Porter has laid off between 300–350 staff members as part of cost-reduction strategies. This decision accompanies preparations for a potential IPO while streamlining operations ahead of market entry.
New Launches and Partnerships
Zomato and Blinkit have launched an initiative to assist delivery partners in accessing government welfare schemes. Lokal expanded into job and agriculture technology with the introduction of Sahi Jobs and AgriLoka platforms. EpikDoc has unveiled an AI-driven Pro platform and Patient LLM. Paytm is collaborating with Groq to enhance AI infrastructure and operational efficiency. VilCart has launched a B2B2C digital marketplace aimed at rural retailers and consumers. Delhivery is set to enter the fintech sector with a new subsidiary.
Financial Results This Week
XpressBees reported an 85% increase in losses to Rs 370 Cr in FY25, even as revenues remained flat. Smartworks has seen an 81% reduction in losses for Q2 FY26, with revenues of Rs 425 Cr. Euler Motors disclosed Rs 191 Cr in revenue against Rs 200 Cr in losses for FY25. Ola Electric’s revenues fell by 46% in Q2 FY26, while it managed to control losses. Delhivery has moved into the loss category in Q2 FY26, although revenues have grown by 17%. Blackbuck reported Rs 29 Cr in profit from Rs 151 Cr revenue during Q2 FY26. Tracxn’s losses increased by 19% in Q2 FY26, maintaining flat revenue. Wakefit’s revenue reached Rs 1,274 Cr in FY25, while losses have widened. Moneyview’s profit climbed to Rs 240 Cr in FY25, with revenues soaring by 74%. Paytm has reported Rs 2,061 Cr in revenue along with a profit of Rs 21 Cr in Q2 FY26. Bluestone’s revenue exceeded Rs 500 Cr in Q2 FY26, successfully controlling losses. Mobikwik’s losses have surged eightfold in Q2 FY26. Metalbook’s gross revenue surpassed Rs 1,300 Cr in FY25. TBO reported Rs 567 Cr in revenue with a profit of Rs 67 Cr in Q2 FY26. ZingHR turned a profit in FY25, achieving a 21% revenue increase. Gameberry Labs has announced a PAT of Rs 110 Cr in FY25.
News Flash This Week
TVS has exited Rapido with a Rs 288 Cr stake sale to Accel and Prosus. From tax arbitrage to IPO successes, the playbook behind India’s startup valuation is under scrutiny. PhysicsWallah is set to launch a Rs 3,480 Cr IPO on November 11, with co-founders reducing their OFS size. Lenskart’s IPO has been nearly 30 times oversubscribed. Groww has raised Rs 2,984 Cr from anchor investors ahead of its IPO. Shiprocket has received SEBI approval for its IPO, highlighting the growing trend of public listings among India’s startups. Pine Labs has allocated Rs 243 Cr in ESOPs to CEO Amrish Rau prior to its market debut, with its IPO valuing the company at $2.7 billion. Peak XV anticipates a 40X return while Invesco faces potential losses.
