Indian Startups Raised $347.44 Million This Week
This week, Indian startups secured a total of $347.44 million, which included three growth-stage and five early-stage transactions. This contrasts with the previous week, when 30 startups had collectively raised approximately $694.75 million.
Growth-stage Transactions
This week, the growth and late-stage funding amounted to $326 million across three deals. The conversational automation platform Uniphore led the way, raising $260 million in a Series F round, with backing from companies like NVIDIA, AMD, Snowflake, and Databricks. UnifyApps acquired $50 million in Series B funding, spearheaded by WestBridge Capital along with participation from ICONIQ and others. Meanwhile, Wonderland Foods, a healthy-snacking brand, raised Rs 140 crore (around $16 million) in its initial round of funding from Asha Ventures and British International Investment (BII).
Early-stage Transactions
Five early-stage startups received funding this week. The trade financing platform CapitalXB raised $15 million, utilizing a combination of equity and debt capital. The wastewater management startup Megaliter Varunaa gathered Rs 15 crore ($1.7 million) in a seed round. Fundamento, an agentic AI platform, raised $1.9 million (approximately Rs 16 crore) in a pre-Series A round led by IIFL Fintech Fund. Stylox Fashion, a denim and casual wear brand, secured Rs 3 crore from the Fashion Entrepreneur Fund (FEF). Additionally, the sports infrastructure startup Michezo Sport raised $2.5 million this week.
City and Segment-wise Transactions
In terms of deal count by city, startups from Bengaluru and Delhi-NCR each recorded three deals, while Mumbai and Hyderabad had one deal each. By segment, AI startups led this week with three deals, with Foodtech, Fintech, Cleantech, E-commerce, and Sportstech startups also attracting funding during this period.
Series-wise Transactions
The funding activity this week was primarily driven by seed rounds, which included four deals, followed by Series B and pre-Series A, each with two transactions. The Series F category also witnessed participation.
Week-on-week Funding Trend
When considering weekly figures, startup funding decreased by 50% to $347.44 million compared to the $694.75 million raised in the prior week. The average funding over the last eight weeks stands at approximately $322.17 million with 25 deals each week.
Key Appointments
This week featured two significant hires. BharatPe appointed Ajit Kumar as its Chief Technology Officer to enhance its technology and product infrastructure. Meanwhile, the Open Network for Digital Commerce (ONDC) named former Paytm executive Rohit Lohia as its Chief Business Officer (CBO). Additionally, MobiKwik announced the resignation of its Chief Operating Officer for Consumer Payments, Mohit Narain, due to health reasons.
Fund Launches
The early-stage venture capital firm India Quotient has raised $129 million (Rs 1,132 crore) from both domestic and international investors for its fifth fund (Fund V). This fund will target pre-seed, seed, and idea-stage startups across various sectors, including SaaS, fintech, D2C, consumer brands, agritech, and content platforms, with investments ranging from Rs 1 crore to Rs 15 crore.
New Launches and Partnerships
CCAvenue has partnered with Ujjivan Small Finance Bank to offer payment gateway solutions. Additionally, Bolt.Earth has joined forces with Atul Greentech to launch a home charging program. NOVA has teamed up with Tata Elxsi for the co-development of Kavach 4.0, while Jar and Atlys have collaborated to introduce digital gold referral rewards. Lastly, Zoho is set to enter the consumer payments space with ‘Zoho Pay’.
Financial Results this Week
This week saw several financial disclosures: Qure.ai reported an 87% increase in losses, amounting to Rs 90 Cr in FY25. Yubi recorded Rs 660 Cr in revenue during FY25, with adjusted EBITDA improving by 55%. Furlenco made a financial recovery, posting a profit after a Rs 130 Cr loss, and revenue surged by 65%. Homelane registered Rs 748 Cr in revenue for FY25 but fell short of its projections. Beardo saw its revenue top Rs 200 Cr in FY25, with profit increasing 3.6 times. Easebuzz reported a 2.3 times revenue growth in FY25, with a profit after tax rising to Rs 19 Cr, while Innoviti reported Rs 143 Cr in revenue and a Rs 62 Cr loss in FY25.
News Highlights this Week
This week also brought several news highlights: WazirX is set to resume trading after a year-long $235 million hack. The Ministry of Electronics and Information Technology (MeitY) has proposed new IT regulations to label and trace AI-generated and deepfake content. Ola Electric clarified issues regarding an FIR against its CEO and officials over an employee’s death. Furthermore, Flipkart-backed Shadowfax has received SEBI approval for an IPO.
This week saw startup funding decrease by 50% to $347.44 million compared to the previous week’s total of around $694.75 million. WazirX is anticipated to restart cryptocurrency trading on October 24, 2025, following a restructuring plan approved by a Singapore Court, enabling the platform to resume operations and address user claims. The exchange will initiate operations with zero trading fees for crypto-to-crypto and USDT/INR transactions to encourage user account reactivation and boost trading volume. Logistics startup Shadowfax has obtained SEBI approval for a Rs 2,500 crore IPO, featuring a fresh equity share issue and an offer for sale from existing shareholders, including Flipkart, Eight Roads Ventures, and NGP Capital. Zoho Corporation is making its entry into the consumer fintech sector through Zoho Pay, a payments application that will seamlessly integrate with its chat platform, Arattai. Zoho Pay will function both as an independent application and within Arattai, allowing users to conduct transactions without leaving the chat interface.
