Funding and acquisitions in Indian startup this week [Dec 01- Dec 06]

This week 18 Indian startups raised a total of $272.67 million, comprising 5 growth-stage and 11 early-stage deals, while a startup kept its funding undisclosed.

In contrast, 35 startups had collectively secured about $272.67 million in the previous week.

[Growth-stage deals]

Growth and late-stage funding touched $112.36 million across five deals this week. The round was led by Ultraviolette, which raised $45 million in its ongoing Series E from Zoho Corporation and Lingotto. Atomberg followed with Rs 212 crore ($24 million) in an extended Series C led by Jongsong Investments (Temasek). StockGro secured Rs 150 crore from Mukul Agarwal, while Furlenco and Planys Technologies raised $15 million and $11.1 million, respectively.

[Early-stage deals]

Early-stage startups  raised about $160.31 million across 12 deals this week, led by luxury jewellery brand QWEEN secured Rs 1,000 crore ($110 million) from Rosy Blue and Kashikey and plans to launch experiential retail stores by mid-February in Bengaluru and New Delhi. Finfactor, the parent of Finvu AA, has raised $15 million in a Series A round led by WestBridge Capital. It was followed by home loan startup Ambak, proptech Modulus Housing, electric tractor company Moonrider, among others. 

Hospital network Superhealth received investment from the family office of Mahendra Singh Dhoni, along with Panthera Peak Capital.

For a detailed funding breakdown, visit TheKredible.

[City and segment-wise deals]

By city-wise deal count, Bengaluru led with 9 deals, followed by Pune Chennai and Delhi-NCR grabbing 2 deals each. Mumbai, Bhubaneswar and Chandigarh also recorded deals during the week.

Segment-wise, fintech startups led the week with 4 deals, followed by e-commerce and EV startups with 2 deals each. Consumer Tech, Deeptech, proptech, edtech and others also bagged funding during the period.

[Series-wise deals]

This week Series A rounds led the funding activity with 4 deals, followed by seed with 3 deals. Series B and pre-Series A funding followed with 2 deals each. Series E,  Series C, Series D and others also saw participation.

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 by 22.8% to $272.67 million as compared to around $353.19 million raised during the previous week.

The average funding in the last eight weeks stands at around $327.37 million with 26 deals per week.

[Key Hirings / Departures]

A few notable hires were made in the startup ecosystem this week. Aspora (formerly Vance) appointed Varun Sridhar as CEO of its wealth management and lending business, strengthening its leadership team.  SpotDraft, the AI-powered contract lifecycle management (CLM) platform, recently announced the appointments of Alon Waks as Chief Marketing Officer and Amit Sharma as Chief Financial Officer. Meanwhile, Catalyst Brands Business Services (CBBS) named Nihar Nidhi as its new Managing Director. 

VisitTheKrediblefor more details

[Fund Launches]

Fireside Ventures closed its fourth fund at Rs 2,265 crore ($253 million) through a GIFT City feeder and India master fund. Nexus Venture Partners raised its $700 million eighth fund to back early-stage AI, enterprise software, consumer, and fintech startups in India and the US. DMI Alternatives closed a $120 million corporate private credit fund focused on performing, cash-flowing Indian companies. Meanwhile, Aakrit Vaish (Haptik co-founder) and Pratyush Choudhury (ex-Together Fund) launched Activate, a $75 million early-stage AI-focused venture fund.

[Mergers and Acquisitions]

Spend management and SaaS led fintech company Zaggle has entered into definitive agreements for the 100% acquisition of Rivpe Technology, a fintech startup specialising in consumer credit cards and UPI based payment solutions.

[New Launches and Partnerships]

▪️ MS Dhoni-backed Superhealth opens Bengaluru hospital, sets sights on 100 facilities

▪️ PhonePe’s Indus Appstore ties up with Motorola to expand its presence across smartphones in India

▪️ India’s first electric tractor mela inaugurated by Shri N. Chaluvarayaswamy, Honourable Minister of Agriculture, Government of Karnataka.

▪️ Former Organic Harvest founder Rahul Agarwal launches RASA Group.

▪️PedalStart launches Founder-Investor Fusion 2.0 to accelerate high-quality deal flow for early-stage startups.

▪️BQP, Classiq, and NVIDIA demonstrate hybrid quantum-classical breakthrough for scalable digital twin and CFD simulation.

[Financial result this week]

▪️ Captain Fresh turns profitable in FY25; GMV jumps 2.5X

▪️ MathCo profit jumps 4.3X in FY25 on flat revenue

▪️ Pine Labs delivers back-to-back profitable quarters

▪️ Wonderchef posts 421 Cr revenue and Rs 4 Cr profit in FY25

▪️ Yulu revenue jumps 98% in FY25; losses stand at Rs 126 Cr

▪️ Wakefit posts Rs 724 Cr revenue in H1 FY26; turns profitable

[News flash this week]

▪️ PhonePe ends Pincode B2C operations to focus only on B2B

▪️ Peak XV’s startup bets mint over Rs 30,000 Cr as Groww, Pine Labs lead IPO returns

▪️ Wakefit sets IPO band at Rs 185-195; Peak XV eyes 10X return

▪️ UPI processes 20.47 Bn transactions in November

▪️ TVS Motor reclaims top spot in Nov E2W sales; Ola Electric plunges 50%

[Summary]

On a weekly basis, startup funding declined by 22.8% to $272.67 million as compared to around $353.19 million raised during the previous week.

TVS Motor reclaimed the No. 1 spot in November 2025 with a 25.92% share of the E2W market, while Ola Electric’s sales fell nearly 50%, dropping it to fifth place.

Unified Payments Interface processed 20.47 billion transactions in November 2025, marginally lower than October’s 20.70 billion, per NPCI data. Despite the slight month-on-month dip, UPI volumes grew 32% year on year.

Wakefit has set a price band of Rs 185–195 per share for its IPO, valuing the home and sleep solutions brand at around Rs 6,400 crore ($719 million). Peak XV Partners stands to gain the most from the listing, set to realize a 10x return on its decade-long investment by cashing out Rs 397 crore through the OFS.

Karnataka advanced cleaner farm mechanisation as Agriculture Minister N. Chaluvarayaswamy inaugurated India’s first Electric Tractor Mela in Bengaluru, which also saw the launch of Moonrider’s electric tractors. Organised by NRDC with Villgro and Moonrider, and facilitated by CoE-FPO, the event brought together 200+ farmers from 100 FPOs.