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Indian Startups Raise $102.93 Million This Week

This week, Indian startups achieved a significant milestone by securing approximately $102.93 million in funding, comprising 5 growth-stage and 18 early-stage investments, while 2 startups opted not to disclose their funding amounts.

In contrast, the previous week saw a total of around $112.35 million raised by 22 startups across various stages.

Growth-stage Deals

Growth and late-stage funding reached nearly $30 million this week. The cleantech-focused NBFC Metafin led the charge with a $10 million Series A funding round. Following closely, Quantum cybersecurity firm QNu Labs obtained $7 million, and neobanking startup Kaleidofin received $5 million. Funding was also attracted by the edtech platform CollegeDekho and marine services company Sadhav Offshore during the week.

Early-stage Deals

A total of 18 early-stage startups garnered approximately $72.98 million in funding. The beauty tech and discovery platform Kult emerged as the leader in early-stage funding with a $20 million round, while the SaaS startup Fuze raised $12.2 million. Other notable early-stage fundraisers included healthcare platform HexaHealth and foodtech companies Anveshan, Sedna, the AI-driven spoken English learning platform Stimuler, and content creation platform Mugafi, among others. Healthtech startup ekincare and the offline social networking platform Jamm also raised undisclosed amounts during this period.

For an in-depth analysis of the funding structure, please refer to various sources.

City and Segment-wise Deals

Bengaluru and Delhi-NCR startups were the front-runners in terms of the number of funding deals, with each securing 7 deals, followed by Mumbai, Chennai, and other locations.

In terms of segments, healthtech startups took the lead with 4 deals, while e-commerce and foodtech startups followed with 3 deals each. Other sectors like media & entertainment, proptech, edtech, and SaaS also made notable contributions.

Series-wise Deals

This week, Series A and Seed funding dominated the scene with 7 deals each, trailed by pre-Series A and Series B, among others.

Week-on-week Funding Trend

Compared to the previous week, startup funding witnessed an 8.35% decline, totalling $102.95 million, down from approximately $112.35 million. The average funding over the past eight weeks stands at around $200.96 million with 24 deals per week.

Key Hirings & Departures

The week also saw notable promotions across various companies. Sahil Barua, founder and CEO of logistics firm Delhivery, joined the board of home decor and lifestyle brand Nestasia. GSV Ventures announced the appointment of Abhishek Mishra, an executive from its IPO-bound portfolio company PhysicsWallah, as a partner. Additionally, edtech startup Leap promoted senior executive Rajan Chaudhary to co-founder.

For further details, please consult various sources.

Mergers and Acquisitions

B2B SaaS fintech company Perfios has acquired healthcare information exchange IHX, aiming to enhance its technology stack within the health insurance claims ecosystem. Meanwhile, D2C lifestyle brand The Souled Store has successfully acquired apparel brand Redwolf.

For more detailed information, visit various sources.

Shutdowns

Foodtech giant Zomato has discontinued its 15-minute food delivery service ‘Quick’ from its main app, just four months post-launch, indicating a potential strategic shift in its approach to ultra-fast meal deliveries.

Refer to various sources for a detailed analysis of series-wise deals along with funding breakdowns and more insights.

New Launches and Partnerships

• Infibeam Avenues is set to launch a global agentic AI marketplace.
• CoinSwitch unveils INR-based crypto futures.
• Razorpay introduces an AI-enabled payment gateway.

Potential Deals

The electric bike startup Ultraviolette is aiming to secure new funding in its ongoing investment round.

Financial Results This Week

• Zomato’s parent company Eternal reported a 64% revenue growth in Q4 FY25, although its PAT dropped by 78%.
• Fashion brand Libas experienced a 64% decline in profit for FY24, nearing Rs 500 crore in revenue.
• FarEye has reduced its losses by 63% amid modest growth in FY24.
• Urban Company reported Rs 846 crore in revenue for 9M FY25, with its locks and RO business growing 7X.
• Go Digit General Insurance saw its profit jump 2.2X during Q4 FY25.
• Nathabit recorded an 80% revenue growth in FY24, while losses remained flat.
• WinZO achieved Rs 1,055 crore in revenue and Rs 315 crore in profit for FY24.
• Freshworks reported $196 million in revenue in Q1 CY25, cutting operational losses by 67%.

News Flash This Week

• Zomato paused its 15-minute food delivery service ‘Quick’ just four months after launching.
• MobiKwik’s Zaakpay obtained RBI approval to operate as an online payment aggregator.
• The Maharashtra Cabinet approved the EV policy 2025, which includes toll waivers and purchase subsidies.
• Karnataka HC permitted Ola, Uber, and Rapido bike taxis to operate until June 15.
• Oyo has re-entered the food business with its Townhouse Cafe QSR chain.
• UPI transactions saw a slight dip to 17.89 billion in April.
• In April, TVS Motor led the E2W market, surpassing Bajaj Auto and Ola Electric.

Summary

On a week-to-week basis, startup funding experienced an 8.35% decline to $102.95 million, compared to the approximately $112.35 million raised the previous week. TVS Motor emerged as the leader in India’s electric two-wheeler market in April 2025, with sales of 19,736 units, reflecting a 154% YoY increase and a 22% market share, according to Vahan data. They edged out Ola Electric (19,709 units, a 42% YoY decline) and Bajaj Auto (19,001 units, up 151% YoY), both capturing 21% market share. UPI recorded 17.89 billion transactions in April, showing a 2.24% decrease from 18.30 billion in March, with transaction value also declining 3.3% month-on-month to Rs 23.95 lakh crore, down from Rs 24.77 lakh crore. Hospitality giant Oyo has entered the quick-service restaurant segment with its brand, Townhouse Cafe, which will be launched at its Townhouse hotels.

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