Funding and acquisitions in Indian startup this week [July 14 - July 19]

During the week, 26 Indian startups raised a total of $97.45 million, including 4 growth-stage and 16 early-stage deals, while 6 startups kept their funding undisclosed.

In comparison, the previous week saw 17 startups across early and growth stages secure around $95  million.

[Growth-stage deals]

Growth and late-stage funding this week totaled $38.3 million. Telehealth platform Truemeds has secured $20 million in its ongoing Series C round from new investor Peak XV Partners, while omnichannel payment solutions provider Phi Commerce tops up Series B with $6 million from BEENEXT. B2B e-commerce unicorn Zetwerk has raised Rs 75 crore ($8.8 million) in debt funding from JM Financial and foodtech startup Lo! Foods bagged $3.5 million in Series B round led by Rainmatter.

[Early-stage deals]

Further, 16 early-stage startups collectively raised around $59.15 million in funding led by deeptech startup QpiAI, raising $32 million in Series A round co-led by Avataar Ventures, National Quantum Mission followed by speech,  home decor startup Vaaree, AI video platform Trupeer, quick commerce fashion platform KNOT, spacetech startup OmSpace, AI research startup Gibran, among others.

AI startups Onetab.ai, Fire AI, Aquila Clouds, wellness brand CosMoss and others 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 11 deals followed by Mumbai with 6 deals. Delhi-NCR, Chennai, Pune and others also bagged deals.

Segment-wise, AI startups are at the top spot with 6 deals. E-commerce and Healthtech startups followed with 4 deals and 3 deals, respectively. Deeptech, fintech, consumer tech and other startups also bagged deals this week.

[Series-wise deals]

During the week, Seed funding led with 8 deals followed by pre-Series A and pre-seed grabbing 6 and 4 deals, respectively. Series A, Series B and others also bagged deals. 

[Week-on-week funding trend]

On a weekly basis, startup funding remained flat at $97.45 million as compared to around $95 million raised during the previous week.

The average funding in the last eight weeks stands at around $200 million with 22 deals per week.

[Key Hirings & Departures]

This week saw several key leadership changes across companies. Rebel Foods appointed co-founder Ankush Grover as CEO, with Jaydeep Barman moving to Chairman and Group CEO. PhonePe named Shivnath Thukral as VP of Public Policy and Government Affairs, while PhysicsWallah (PW) brought in Satish Sharma as CMO to strengthen its online, offline, and hybrid education presence. Pocket FM promoted Akansha Kumari to Head of Product, and former HDFC Securities COO Sandiip Bharadwaj is set to become the new CEO of Paytm Money.

Visit TheKredible for more details

[Mergers and Acquisitions]

Bengaluru-based B2B e-commerce unicorn Udaan has acquired retail-tech startup ShopKirana in an all-stock deal, signaling a strategic consolidation in India’s eB2B space. ChrysCapital-backed Corona Remedies to acquire seven brands from German pharma major Bayer Pharmaceuticals.  AI-powered CRM engagement company, Conversive acquired AI startup VoxGenie.

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

[Fund Launches]

Early-stage investor Nisarg Shah’s venture capital firm, Kettleborough VC, has rolled out its second fund with a target size of Rs 80 crore and marked its first close at Rs 35 crore. The fund has secured backing from a blend of family offices and entrepreneurs across India and the US.

[Shutdown]

Blip, the ultra-fast fashion delivery startup that promised 30-minute deliveries, has ceased operations less than a year after its launch, co-founder Ansh Agarwal revealed in a LinkedIn post.

[Potential Deals]

▪️Altum Credo to raise Rs 100 Cr in Series C round

▪️Milky Mist to raise Rs 357 Cr in pre-IPO round

▪️R for Rabbit to raise $27 Mn in primary and secondary capital

▪️Burger Singh to raise Rs 47 Cr in fresh funding round

[New Launches and Partnerships]

▪️Jupiter Money enters insurance distribution with IRDAI approval

▪️GIVA launches same-day delivery service across four cities

▪️edForce partners with Linux Foundation APAC to drive open-source upskilling at enterprise scale

▪️Ullu forays into Web3 with launch of UlluCoin

[Financial result this week]

▪️ Ixigo posts Rs 314 Cr revenue in Q1 FY26; profit up 27%

▪️ Ola Electric sees sharp 50% fall in Q1 FY26 revenue, losses up 23%

[News flash this week]

▪️IndiQube files RHP for Rs 700 Cr IPO; issue opens on 23rd July

▪️Smartworks opens strong on stock exchange; market cap crosses $600 Mn

▪️Nazara ends majority control in Nodwin ahead of internal fundraise

▪️Fractal Analytics raises $172 Mn via secondary sale

▪️BYJU’s founders to sue for $2.5 Bn over alleged damages

[Summary]

On a weekly basis, startup funding jumped  by 12% to $107.45 million as compared to around $95 million raised during the previous week.

Managed workspace provider IndiQube has filed its draft RHP with SEBI for a reduced Rs 700 crore IPO, down from the earlier planned Rs 850 crore. The offering includes a fresh issue of Rs 650 crore and an OFS of Rs 50 crore by co-founders Rishi Das and Meghna Agarwal, who will each sell shares worth Rs 25 crore.

Managed office space provider Smartworks debuted on the NSE at Rs 435, a 7% premium to its issue price of Rs 407. Its IPO, oversubscribed 13.9 times, included a Rs 445 crore fresh issue and an OFS of 34 lakh shares worth Rs 137.5 crore, with a price band of Rs 387–407.

Nazara Technologies announced on Wednesday that it will cede majority control of its subsidiary Nodwin Gaming as the latter raises fresh capital from existing investors to expand in esports and youth media. Nazara’s decision to skip the round will see its stake in Nodwin drop below 50%.

Fractal Analytics, an AI and advanced analytics firm, has raised $172 million (Rs 1,461 crore) via a secondary share sale, valuing the company at $2.44 billion. Apax Partners offloaded a 6% stake to 22 investors, including Trust Investment Advisors, ET reported.

BYJU’s founders plan to file legal actions seeking over $2.5 billion in damages against parties they allege harmed them and their businesses, including Think & Learn. Some claims are already pending in Indian courts against Glas Trust, a former Think & Learn subsidiary now under Glas Trust’s control, and others.