Funding and acquisitions in Indian startup this week [July 21 - July 26]

During the week, 24 Indian startups raised a total of $202.79 million, including 4 growth-stage and 16 early-stage deals, while 4 startups kept their funding undisclosed.

In comparison, the previous week saw 26 startups across early and growth stages secure around $97.45  million.

[Growth-stage deals]

Growth and late-stage funding this week totaled $119.7 million. Conversational AI platform Gupshup raises over $60M in equity and debt from Globespan and EvolutionX. IndiQube raises Rs 374 Cr from anchor investors ahead of its Rs 700 Cr IPO. SuperK, a retail chain for small towns, raises Rs 100 Cr in Series B led by 3STATE Ventures. Pristyn Care, a surgery-focused hospital chain, has raised $4 million as part of a larger funding round to support its expansion of owned hospitals.

[Early-stage deals]

Further, 16 early-stage startups collectively raised around $83.09 million in funding led by agentic AI startup Composio raising $25 million in its Series A round led by Lightspeed followed by semiconductor startup Netrasemi which secured Rs 107 crore ($12.5 million) co-led by Zoho Corporations and Unicorn India Ventures. Enterprise AI infra startup Kluisz.ai, edtech startup Edufund, electric mobility-as-a-service (eMaaS) platform EVeez, infra-tech Enlite, among others.

Industrial solutions company Magma, lab-grown diamond brand Coluxe 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 9 deals followed by Delhi-NCR with 5 deals. Ahmedabad, Mumbai, Chennai and others also bagged deals.

Segment-wise, AI startups are at the top spot with 5 deals. E-commerce and healthtech startups followed with 3 deals each. Proptech, Semiconductor, edtech and other startups also bagged deals this week.

[Series-wise deals]

During the week, Seed funding led with 9 deals followed by Series A grabbing 8 deals. pre-seed, Series F and others also bagged deals. 

[Week-on-week funding trend]

On a weekly basis, startup funding more than doubled to $202.70 as compared to around $97.45 million raised during the previous week.

The average funding in the last eight weeks stands at around $200 million with 23 deals per week.

[Key Hirings & Departures]

This week witnessed several notable leadership moves. Raise Financial Services, the parent of stock trading platform Dhan, appointed Amit Gupta as Group CFO. Logistics startup Leap India, ahead of its IPO, named Harinarayanan Nair and Sanjiv Gupta as independent directors. Shadowfax also strengthened its board with the appointment of Bijou Kurien, Ruchira Shukla, Pirojshaw Sarkari, and Dinkar Gupta as it prepares for its public listing.

Visit TheKredible for more details

[Mergers and Acquisitions]

Mental health platform LISSUN has acquired US-based Being Cares Inc to advance its AI-driven, child-first behavioural development ecosystem in India.

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

[Fund Launches]

Venture capital firm Yali Capital has closed its maiden deeptech focused fund at Rs 893 crore (about $103.2 million). The fund intends to invest in startups across chip design, robotics, genomics, smart manufacturing, aerospace, and AI sectors

[Shutdown]

EV financing and leasing startup Ohm Mobility has announced that it is winding down operations after five years of trying to build a scalable business model.

[Potential Deals]

▪️ Captain Fresh lines up debt funding before public listing

▪️ Bonito Designs to raise $9.5 Mn from Tomorrow Capital

[New Launches and Partnerships]

▪️ Reliance enters fashion quick commerce with Ajio Rush

▪️ Grip Invest launches auto-compounding investment product

▪️ UKHI collaborates with DCGpac to boost sustainable packaging efforts

▪️ SBI Card and PhonePe join forces to launch co-branded PhonePe SBI Card

▪️ Freshworks partners with McLaren Formula 1 as official IT collaborator to enhance global operations

▪️ Spyne launches Vinnie, its first AI assistant, to revolutionize used car retail

[Financial result this week]

▪️ Tata 1mg revenue nears Rs 2,400 Cr in FY25, trims losses 

▪️ BigBasket’s B2C losses widen sharply in FY25; consolidated revenue declines

▪️ Ideaforge revenue nosedives 85% in Q1 FY26

▪️ Paytm posts Rs 1,918 Cr revenue and Rs 123 Cr profit in Q1 FY26

▪️ Milky Mist posts Rs 2,349 Cr revenue in FY25, profit jumps over 2.4X

▪️ Zomato’s parent Eternal posts Rs 7,167 Cr revenue in Q1 FY26, profit falls 90%

▪️ IndiQube crosses Rs 1,000 Cr revenue mark in FY25; cuts losses by 58%

[News flash this week]

▪️ Edtech unicorn PhysicsWallah receives SEBI nod for IPO

▪️ BNPL firm Simpl under ED lens for Rs 913 Cr FDI violations

▪️ Good Glamm Group to be split up as lenders enforce brand-wise sale

▪️ ED files FEMA case against Myntra over Rs 1,654 Cr FDI violation

▪️ Govt blocks Ullu, ALTT and 23 other OTT apps for explicit content

[Summary]

On a weekly basis, startup funding more than doubled to $202.70 as compared to around $97.45 million raised during the previous week.

Spyne, a global automotive AI platform, has launched Vinnie, India’s first autonomous AI assistant to fix broken customer communication. Built for car dealerships, Vinnie instantly responds to calls, qualifies leads, and boosts conversions with zero manual effort.

The Good Glamm Group, once a prominent digital-first beauty and personal care company, is being broken up as lenders enforce their charge on individual brands, effectively dismantling its unified structure. Founder Darpan Sanghvi confirmed the development in a letter to stakeholders, marking a key moment in the company’s ongoing restructuring.

The Enforcement Directorate has filed a complaint against Myntra Designs Pvt. Ltd and its affiliates under FEMA for alleged FDI violations worth over Rs 1,654 crore. The agency claims Myntra was conducting multi-brand retail trading under the guise of wholesale operations, which is restricted under current FDI rules.

The Ministry of Information & Broadcasting has banned 25 OTT platforms and their apps, including Ullu, ALTT, Desiflix, and Big Shots, for hosting sexually explicit content.