Funding and acquisitions in Indian startup this week [Aug 18- Aug 23]

During the week, 16 Indian startups raised a total of $283.33 million, including 5 growth-stage and 9 early-stage deals, while 2 startups kept their funding undisclosed.

In comparison, the previous week saw 29 startups across early and growth stages secure around $340.55  million.

[Growth-stage deals]

Growth and late-stage funding this week stood at $271.7 million, led by Weaver Services, a tech-driven housing finance platform, which raised $170 million from Lightspeed and Premji Invest. AI firm Amnex Technologies followed with a $52 million round, while D2C baby products brand R for Rabbit secured $27 million in its Series B led by Filter Capital. Solar PV module maker Goldi Solar and managed accommodation provider Stanza Living also closed funding rounds during the week.

[Early-stage deals]

On the early-stage front, nine startups raised a total of $12.13 million this week. Smart kitchen appliances firm led the pack with a $4 million Series A round from Fireside Ventures, followed by MS Dhoni-backed House of Biryan, FMCG startup Mitra, biotech venture PeelOn, AI platform Edgehax, wearable devices startup Aether MindTech, among others

Conversational AI startup CoRover and nutrition brand  Ace Blend also raised a sum but did not disclose the amount raised.

For a detailed funding breakdown, visit TheKredible.

[City and segment-wise deals]

In terms of the city-wise number of funding deals, Bengaluru-based startups led with 6 deals followed by Mumbai with 3 deals. Ahmedabad, Delhi-NCR, Surat and others also bagged deals.

Segment-wise, AI and foodtech startups are at the top spot with 3 deals each. E-commerce startups followed with 2 deals. Fintech, solar-tech, hospitality and other startups also bagged deals this week.

[Series-wise deals]

During the week, Seed funding led with 7 deals followed by Series A grabbing 4 deals. Pre-Series A, Series B and debt funding also bagged deals. 

Visit TheKredible to see series-wise deals along with amount breakup, and more insights.

[Week-on-week funding trend]

On a weekly basis, startup funding declined  16.6% to $283.83 as compared to around $340.55 million raised during the previous week.

The average funding in the last eight weeks stands at around $205.71 million with 24 deals per week.

[Key Hirings & Departures]

This week saw several key leadership appointments across the startup ecosystem. ShareChat has appointed Google’s industry and ecommerce head Neha Markanda as chief business officer for both ShareChat and Moj. Astrotalk has named Deepak Khetan as CFO as the astrology startup gears up for an IPO within two years. Early stage investment platform IAN Group has appointed Chintan Thakkar as Group CEO of IAN Group. Fintech platform BharatPe has expanded its leadership team with the appointment of Rajesh C as Head of Finance and Himanshu Nazkani as Head of Investments. Urban mobility firm Cityflo has appointed Colonel Suresh Babu A B (Retd) as director of operations.

VisitTheKrediblefor more details

[Fund Launches]

The week also saw six fund launches. Ex-Kae Capital partner Natasha Malpani has launched Boundless Ventures, a Rs 200 Cr early-stage fund backing AI-native startups in India. PixelSky Capital, a secondaries-focused fund backed by IndigoEdge and Yumlane founder Hitesh Ahuja, has raised ₹150 Cr in its first close, targeting a Rs 400 Cr corpus. Jodhpur-based accelerator Marwari Catalysts (MCats) plans to build a Rs 4,000 Cr ($500 Mn) impact-focused portfolio by 2027, alongside its expansion into Dubai and Singapore.

[New Launches and Partnerships]

▪️ CRED to launch co-branded credit card with IndusInd Bank 

▪️ Apna launches AI Calling Agent to cut hiring time by half

▪️ Recur Club Partners with Enrission India Capital to boost capital access for startups

▪️ Swiggy and Bounce partner to boost EV adoption for delivery partners

▪️ Shiprocket rolls out RevProtect to help MSMEs curb revenue losses from RTOs

[Financial result this week]

▪️ Kissht posts Rs 1,337 Cr revenue in FY25 with Rs 161 Cr profit

▪️ Biryani Blues losses down by over 30% in 11 months of FY25

▪️ Garuda Aerospace posts Rs 17.5 Cr profit in FY25, revenue at Rs 118 Cr

[News flash this week]

▪️ Gameskraft, My11Circle, MPL, Probo and Zupee shut real money gaming ops

▪️ Dream11 set to shut its core real-money gaming biz

▪️ Karnataka HC gives govt one month to decide on bike taxi policy

▪️ Govt kills real-money gaming with Gaming Bill in Lok Sabha

▪️ Kissht files DRHP to raise Rs 1,000 Cr via fresh issue

[Summary]

On a weekly basis, startup funding declined  16.6% to $283.83 as compared to around $340.55 million raised during the previous week.

The Centre has passed the Promotion and Regulation of Online Gaming Bill, 2025, imposing a blanket ban on all real-money games (RMG), including fantasy sports, rummy, poker, and opinion trading. The law, led by IT Minister Ashwini Vaishnaw, deems all money-based games illegal, ending the “skill vs chance” debate, and grants extra-territorial powers to act against foreign platforms accessible in India.

Following the Online Gaming Bill 2025, platforms like Dream11 (Dream Sports), My11Circle, Zupee, RummyCulture, MPL, and Probo have shut down real-money gaming operations. Dream11 will pivot to non-RMG ventures such as Fancode, Sportz Drip, and investments in Cricbuzz and Willow TV, while exploring overseas formats. MPL will focus on international markets, which account for 50% of its revenue. Zupee will discontinue RMG but continue offering free-to-play games.

Digital lending platform Kissht, operated by OnEMI Technology Solutions, has filed draft papers with SEBI to raise Rs 1,000 crore through a fresh issue, along with an offer-for-sale of 8.88 million shares by early investors such as Vertex Ventures, Ventureast, Endiya Seed, AION Advisory, and Ammar Sdn Bhd.