Startup Funding and Acquisitions in India: Highlights from May 5 to May 10

During the week, startup funding in India saw a remarkable increase as 27 startups collectively secured around $585.71 million. This included 6 deals in the growth stage and 21 in the early stage.

In contrast, the preceding week recorded 25 startups, spanning both early and growth stages, raising approximately $102.93 million.

Growth-stage Deals

Notably, growth and late-stage funding reached approximately $322.3 million this week, spearheaded by Porter, an on-demand goods transport service, which raised $200 million in its Series F funding round led by Kedaara Capital and Wellington Management. Additionally, automotive firm Routemotic garnered $40 million in its Series C round, while interior design startup Flipspaces raised $35 million with support from Iron Pillar. Celcius Logistics, The Good Bug, and e-commerce platform Blissclub also secured funding during this period.

Early-stage Deals

Furthermore, 20 early-stage startups raised a total of $263.41 million in funding. PB Healthcare, a healthcare company, led early-stage funding with a larger $218 million seed round initiated by General Catalyst. Following closely were robotics company Posha, edtech startup Footprints, spacetech firm InspeCity, full-stack commercial vehicle platform 91Trucks, and proptech company Alt DRX, all of whom also attracted investment this week.

For a more detailed funding breakdown, individuals may refer to various sources.

City and Segment-wise Deals

An overview of the city-wise funding reveals that startups based in Delhi-NCR led with 11 deals, while Bengaluru followed with 10 deals. Startups from Mumbai and Chennai also secured funding.

Segment-wise, healthtech startups took the lead with 4 deals, followed by logistics and foodtech sectors, each with 3 deals. Other sectors such as AI, automotive, decor, and robotics also participated in the funding.

Series-wise Deals

This week, seed funding accounted for the highest number of deals with 9, followed by Series A, pre-Series A, Series B, and other categories.

Week-on-week Funding Trend

Compared to the previous week, startup funding elevated by 5.7 times, reaching $585.71 million from approximately $102.93 million. The average funding over the last eight weeks is about $216.39 million with 25 deals each week.

Key Hirings & Departures

This week featured notable appointments across various companies. Peeyush Ranjan, previously CTO of Flipkart and an ex-Google executive, has joined Mukesh Bansal’s startup incubator, Meraki Labs, as a partner. Kuhoo Finance has welcomed Vineet Mahajan as its new CFO. Veranda, an edtech firm, has appointed Mohasin Khan as its CFO. Furthermore, Astrikos.Ai, an AI-based infrastructure intelligence company, has enhanced its leadership team by making four senior hires to facilitate its upcoming growth phase.

More information can be found in various sources.

Mergers and Acquisitions

Browserstack, a SaaS unicorn, has acquired Requestly, a tool for HTTP interception, API mocking, and debugging. Absolute Sports, a subsidiary of Nazara Technologies and parent of Sportskeeda.com, has entered into agreements to acquire TJRWrestling.net and ITRWrestling.com from Titan Insider Digital.

Additional details are available from various sources.

Fund Launch

QED Investors, a venture capital firm based in the US, plans to invest between $250 million and $300 million into early and growth-stage startups across India and the Asia Pacific region.

Layoffs

GenWise, an online club designed for seniors, has reduced its workforce by laying off 15–20 employees, constituting 20% of its staff, across various departments including tech, marketing, product, design, business, and operations.

More insights regarding series-wise deals and funding amounts can be found in various sources.

New Launches and Partnerships

Aerem has partnered with OMC Power to advance rooftop solar installation among MSMEs in Uttar Pradesh. Rilox EV has teamed up with Hala Mobility to deploy 20,000 electric two-wheelers throughout India. KOGO AI and Tech Mahindra have joined forces for AI agents, and the fintech SaaS platform CaptainBiz has launched Bill2Pay for MSMEs.

Potential Deals

Vetic, a petcare startup, aims to raise $26 million led by Bessemer. Propelld, an education-focused lending platform, seeks to secure $30 million from WestBridge and Stellaris. MakeO, the parent company of Toothsi, is also on track to raise funds at a 50% valuation cut, while Motilal Oswal invests Rs 200 crore into Lahori. Celebal Tech is commencing its Series B round with a 2X valuation increase.

Financial Results This Week

Swiggy has reported revenues of Rs 4,410 crore for Q4 FY25, while Instamart enjoys a growth of 115%. CaratLane’s revenue for Q4 FY25 stands at Rs 883 crore. Arya.ag has recorded Rs 447 crore in revenue for FY25, marking a 70% profit increase. CarTrade posted revenues of Rs 169 crore in Q4 FY25, doubling its profit. Paytm documented Rs 1,911 crore in revenue with a loss of Rs 23 crore in Q4 FY25. Unicommerce’s revenue surged by 70% in Q4 FY25, while Battery Smart’s revenue has tripled in FY24, although losses have more than doubled.

News Flash This Week

Vanguard has valued Ola at $1.25 billion. 10Club has filed with NCLT to initiate insolvency proceedings. Swiggy plans to transfer ownership of vital food brands to Kouzina. Porter has reached unicorn status in 2025 with a remarkable $200 million fundraise. Evera Cabs has taken over 500 electric vehicles previously utilized by BluSmart.

Summary

Startup funding escalated 5.7 times this week to $585.71 million compared to around $102.93 million from the prior week. Porter has emerged as the third unicorn of 2025 after securing $200 million in its Series F round alongside Kedaara Capital and Wellington Management. Evera Cabs is in the midst of reclaiming 500 electric vehicles that were once part of BluSmart’s fleet after encountering operational suspensions in major cities. They have successfully repossessed 220 vehicles with plans to recover the remainder, thereby reinforcing their leadership in the electric cab sector, especially for airport mobility.

Additionally, several startups are actively seeking investment. Celebal Technologies, an IT service provider, aims to raise Rs 125 crore (around $14.7 million) in its Series B round led by InCred Growth Partners Fund. Propelld, focused on education lending, anticipates securing Rs 260 crore (around $30.5 million) in its Series D round, supported by WestBridge Capital and Stellaris Venture Partners. Lahori, a beverage brand, is on track to raise Rs 200 crore (approximately $23 million) from Motilal Oswal. Other companies like MakeO and Vetic are also pursuing fundraising efforts.