Indian Startups Funding Overview

This week, Indian startups achieved significant funding with a total of around $62.67 million raised. This included 3 growth-stage and 18 early-stage investments, while 4 startups opted not to disclose their funding details.

Growth-stage Funding

The current week marked the presence of only three growth-stage funding deals. The B2B e-commerce giant OfBusiness raised $11.7 million (Rs 100 crore) during a pre-IPO funding round. Similarly, Garuda Aerospace, a driven drone technology startup, secured $11.7 million (Rs 100 crore) in its Series B funding led by Venture Catalysts. Additionally, deeptech firm Optimized Electrotech garnered $6 million in fresh investments.

Early-stage Funding

In early-stage funding, a total of 18 startups successfully raised $33.37 million. The SaaS startup Magma took the lead with a $5 million Series A funding round, followed by various companies including robotics firm Peppermint, healthtech innovator Risa Labs, jewellery brand Jewelbox, EV charging enterprise IPEC, and coffee chain Nothing Before Coffee.

Other early-stage ventures like D2C luggage brand Uppercase, sports tech startup SportSkill, gaming platform JetSynthesys, and alco-bev firm Orchre Spirits also received backing, although they have not revealed the specific funding amounts.

For detailed funding specifics, various sources can be consulted.

City and Segment-wise Funding Insights

Pune-based startups led the city-wise count with 5 funding deals, trailed by startups from Delhi-NCR, Chennai, Bengaluru, and others.

In the segment breakdown, e-commerce startups secured the top position with 5 deals, while healthtech and foodtech startups followed closely with 4 and 3 deals, respectively. Other segments like proptech, dronetech, deeptech, SaaS, and others also bagged notable funding.

Series-wise Funding Overview

Over the course of the week, Seed funding took the lead with 10 deals, followed by pre-Series A, Series A, Series B, and additional categories.

Weekly Funding Trend

Comparatively, startup funding witnessed a notable decline of almost 65%, reaching $62.67 million, down from approximately $181.21 million raised the prior week. The average funding across the past eight weeks has been around $231.66 million with 25 deals per week.

Key Hires and Departures

This week brought forth significant leadership changes in various companies. Fintech startup Cashfree Payments appointed Piyush Anchliya as their new Chief Financial Officer (CFO). B2B e-commerce entity Moglix has welcomed Sanjeev Arora as their new CFO. Additionally, Indian dairy company Milky Mist appointed two independent directors, and fintech venture Lendingkart has brought in Prashant Joshi as its chief executive officer, shortly after a majority stake acquisition by Temasek-owned Fullerton.

Meanwhile, a departure was noted as Unicommerce announced that Bhupinder Garg resigned from the position of Chief Technical Officer (CTO).

For further details, various sources should be consulted.

Mergers and Acquisitions

Findi Ltd, via its subsidiary Transaction Solutions International (India) Pvt Ltd (TSI), completed an acquisition of BANKIT Services Pvt. Ltd for Rs 160 crore ($18.7 million). Further, CleverTap, a platform focused on customer engagement and retention, has acquired rehook.ai, a startup backed by Y Combinator.

For more details, various sources may provide further insights.

Layoffs

The SaaS startup Zopper has let go of approximately 100 employees since early 2025. In addition, conversational messaging service Gupshup has recently laid off around 200 employees, adding to a previous reduction of approximately 300 employees in December last year.

For a series-wise breakdown of funding amounts and complete details on fund launches, various sources can be referenced.

New Launches and Partnerships

• Tyger Capital has joined forces with Credgenics
• Zippee has rolled out a 60-minute delivery service for e-commerce platforms
• Tulu Health has unveiled an AI agent platform poised to transform patient care
• Equirus Wealth has introduced a comprehensive wealth-tech initiative
• upGrad has partnered with Seed Group to enhance AI-driven learning and skill development in the MENA region

Potential Investment Deals

• Sachin Tendulkar and others are set to invest $18 million in Rayzon Solar, valuing it at $844 million
• Phi Commerce is initiating a Series B funding round with a valuation exceeding $150 million
• Dream11’s parent company is preparing to invest $50 million in Cricbuzz
• Wow! Momo aims to raise between Rs 130-150 crore led by Haldiram’s Kamal Agrawal and Khazanah

This Week’s Financial Results

• D’Decor has surpassed Rs 800 crore revenue for FY24, with profits rising by 20%
• Bootstrapped Collegedunia has reached Rs 200 crore in revenue, targeting 3X growth and an IPO within 5 years
• Just Dogs is closing in on Rs 100 crore revenue for FY24, but losses have surged
• Okinawa has experienced a significant revenue drop of 87%, standing at Rs 182 crore for FY24

This Week’s News Highlights

• PhonePe has transitioned to a public entity ahead of its major IPO
• Razorpay follows suit, converting to a public entity prior to IPO aspirations
• Medikabazaar has dismissed former CEO Vivek Tiwari due to fraud allegations
• There are reports of fund misappropriation involving Gensol’s promoters
• BluSmart has paused services in crucial cities
• PolicyBazaar’s PB Pay has secured RBI approval for payment aggregation