Indian Startups Raise $181.21 Million in Funding This Week

Indian startups raised approximately $181.21 million during the week, which included 6 growth-stage and 13 early-stage funding rounds. Additionally, 5 startups opted to keep their funding amounts confidential.

In comparison, the week prior witnessed 30 startups across various stages collecting around $357.29 million.

Growth-Stage Funding Deals

This week, in the realm of growth-stage funding, payment technology firm Juspay secured $60 million in Series D funding, with Kedaara Capital leading the investment. Additionally, digital payments company Easebuzz raised Rs 240 crore ($30 million) through a funding round led by Bessemer Venture Partners. The Indian wearable brand Noise also attracted another round of funding from the global audio leader Bose. Other notable recipients of funding included the parent company of Bare Anatomy, Innovist, the social entertainment platform eloelo, and solar energy startup Sadhav Future Tech.

Early-Stage Funding Deals

In the early-stage segment, 13 startups together raised a total of $37.52 million. Cross-border logistics startup Xindus took the lead with a $10 million Series A round, followed by edtech startup SigIQ.ai, women-focused fashion brand Outzidr, and nanotech company Vimano. Direct-to-consumer snack brands such as Let’s Try and Eat Better were also part of this funding wave. Membership-based sports club Drive FITT, a refurbished iPhone marketplace named Grest, and data protection startup Data Safeguard also raised funds, although their amounts remain undisclosed.

For comprehensive funding details, check various sources.

Geographical and Sector-Specific Funding Analysis

Bengaluru-based startups led the city-wise funding count with 12 deals, followed by regions like Delhi-NCR, Pune, Jaipur, Hyderabad, and Mumbai.

In terms of sectors, e-commerce startups dominated with 4 deals. Fintech, consumer electronics, edtech, and foodtech sectors followed closely, each with 2 deals. Additionally, sectors such as Spiritual Tech, AI, and logistics secured funding as well.

Series of Funding Deals

This week, seed funding deals topped the chart with 10 transactions, followed by pre-Series A, Series A, Series B, among others.

Weekly Funding Trend

Week-on-week, the startup funding witnessed a nearly 50% drop to $181.21 million, compared to the approximately $357.29 million accumulated the previous week. The average funding over the last eight weeks is approximately $246.87 million with an average of 24 deals weekly.

Key Appointments and Changes

This week experienced notable leadership transitions within several companies. NimbusPost, a logistics tech platform from Xpressbees, appointed Irwin Anand as its new CEO. TiE Mumbai introduced Apoorva Ranjan Sharma as its new President, effective from April 2025 for a two-year term. The visa processing company Atlys named Ananth Iyer as its Chief Financial Officer. Furthermore, Claypond Capital, the family investment office of Ranjan Pai, appointed Sekhar Garisa as its Managing Director.

Additionally, some significant departures took place, including Thampy Koshy stepping down as MD and CEO of ONDC, and Myntra’s Chief Product and Technology Officer, Raghu Krishnananda, leaving after five years of service.

Mergers and Acquisitions

This week, Arihant Academy, an edtech firm listed on NSE, completed the full acquisition of Carmel Classes and Carmel Tuitions in a deal valued at $1.2 million. Creativefuel also acquired MissMalini Entertainment from The Good Glamm Group for Rs 6 crore.

Fund Launches and Expansions

Neo Asset Management announced the closure of its second private credit fund, NSCOF II, at Rs 2,000 crore. The fund, which was launched three months ago, is targeting a total corpus of Rs 5,000 crore. Asha Ventures, based in Mumbai, received $10 million from British International Investment, the UK’s development finance institution. US-based VC firm Expert Dojo has launched its third global fund aiming for $100 million, with $15 million earmarked for Indian startups.

For detailed analysis on series-wise deals, fund launches, and more insights, explore various sources.

New Launches and Partnerships

Kazam has partnered with Yuma to establish battery swapping stations in parks and charging hubs. Grahm, a real estate advisory platform, has made its entry into Bengaluru.

Potential Upcoming Deals

Mosaic Wellness is looking to raise $20 million at a $400 million valuation. Seekho is preparing to raise $25 million and has reported a monthly revenue of $4 million. Agrostar is in discussions for fresh funds from current investors. PhysicsWallah is negotiating to acquire Sarrthi IAS. Zolostays has sold its college accommodation business to Good Host Spaces for Rs 108 crore.

Financial Results This Week

Eloelo, a five-year-old startup, reported zero revenue and a Rs 99 crore loss for FY24, while Ecom Express recorded Rs 1,912 crore in revenue over the first nine months of FY25.

News Highlights This Week

This week, the Urban Company board granted approval for a primary fundraising of Rs 528 crore through an IPO. Bluestone and Aye Finance received nod from SEBI for their IPOs. boAt has filed a draft red herring prospectus confidentially. Wakefit aims for a $200 million+ IPO and has enlisted three investment banks: Axis Capital, IIFL Capital, and Nomura. BharatPe has received clearance from RBI to function as a payment aggregator. Omnivore and Nucleate introduced the BioWave Report, showcasing that India’s life sciences startups raised $1.9 billion over five years. Additionally, PhonePe has widened its lead against Google Pay in March, while CRED has slipped to seventh in UPI rankings.

Weekly Overview

In summary, startup funding for the week showed a significant decline of nearly 50%, falling to $181.21 million compared to the prior week’s $357.29 million. Consumer electronics brand boAt has submitted its Draft Red Herring Prospectus (DRHP) to SEBI through a confidential process. Omnichannel jeweller Bluestone and microlending platform Aye Finance have both attained final approval from SEBI for their public listings. Bluestone aims for a Rs 1,000 crore fresh equity issuance, while Aye Finance targets Rs 885 crore, including an Offer for Sale component. Urban Company has garnered shareholders’ approval for a primary capital raise of Rs 528 crore for its IPO. The edtech unicorn PhysicsWallah continues its acquisition strategy with Sarrthi IAS in its sights. Moreover, India’s leading sustainability-focused VC, Omnivore, in collaboration with Nucleate, published the “India Life Sciences Startup Investing Report” at BioWave, noting $1.9 billion invested across 465 deals between 2020 and 2024, highlighting momentum and focus on biotech in India. The Unified Payments Interface (UPI) recorded a 13.6% boost in transaction volumes in March, totaling 18.30 billion transactions, maintaining rankings for the leading UPI apps while Axis Bank outpaced CRED, shifting it to seventh place.