Funding and acquisitions in Indian startup this week [June 02 - June 07]

During the week, 21 Indian startups raised a total of approximately $216.19 million, including 7 growth-stage and 12 early-stage deals, while 2 startups kept their funding undisclosed.

In comparison, the previous week saw 19 startups across early and growth stages secure around $205.76  million.

[Growth-stage deals]

Growth and late-stage funding reached nearly $193.26 million this week, led by wealth management platform Syfe’s $80 million Series C round. D2C men’s wear brand Snitch followed with a $40 million Series B round led by 360 One Asset. Meanwhile, B2B e-commerce platform Udaan closed its Series G round at $114 million, raising an additional $39 million after securing $75 million earlier. Fintech startups including Stable Money, Loantap, Decentro along with Feminine care brand Plush also secured funding this week.

[Early-stage deals]

Further, 12 early-stage startups collectively raised a total of $22.93 million in funding. Education loan marketplace led the early stage funding with a $5.8 million Series A round followed by Climate Tech startup Stride Green, wellness and longevity startup, jewelery brand True Diamond, foodtech startup Naagin, fintech firm Spense, sneaker brand Gully Labs, among others.

Homegrown pickleball gear brand ServeClub and drontech startup AVPL International 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 10 deals followed by Delhi-NCR with 6 deals. Mumbai, Pune, and Chennai based startups also bagged deals.

Segment-wise, fintech startups are at the top spot with 6 deals each. E-commerce startups followed with 4 deals. Foodtech, healthtech, climate tech and AI and others also bagged the deals.

[Series-wise deals]

During the week, Seed funding led with 8 deals followed by Series B , pre-seed, pre-Series A, Series C and others.

[Week-on-week funding trend]

On a weekly basis, startup funding remained flat at $216.19 million as compared to around $205.76  million raised during the previous week.

The average funding in the last eight weeks stands at around $202.42 million with 23 deals per week.

[Key Hirings & Departures]

This week saw 6 notable hirings across companies. Probo appoints Shimal Kapoor as head of policy to bolster regulatory engagement and support policy development in India’s skill-based gaming sector. Bessemer Venture Partners has welcomed Pankaj Mitra as a Partner in its India team. Simplilearn reappoints Jitendra Kumar as CTO to spearhead AI integration. Steptrade Share Services, a SEBI-registered investment management entity, has announced the appointment of Mr. Kamal Bansal, former MD of GVFL, as a member of its Advisory Board.

There were a couple of departures as well with Zepto’s senior executive resigning to join Apollo brands as president and CTO of CoinDCX Vivek Gupta stepped down from his role after a five year stint at the company.

Visit TheKredible for more details

[Mergers and Acquisitions]

Agritech platform DeHaat has acquired NEERX’s real-time soil and weather monitoring technology into its services, for an undisclosed amount. The acquisition brings NEERX’s capabilities in satellite imagery and cloud-based analytics to the DeHaat platform. Nazara Technologies announced the acquisition of bankrupt sports entertainment startup Smaaash Entertainment through an NCLT-approved insolvency resolution process.

Visit TheKredible for more details

[Fund Launches]

Healthcare-focused investment firm HealthKois has launched with a target corpus of $300 million, along with a $100 million green shoe option. Early-stage venture capital firm Inflexor Ventures is targeting the first close of its $150 million (Rs 1,250 crore) Fund III by the end of Q2 FY26. Global investor network VNTR plans to launch a $5 million fund targeting early to late-stage Indian startups across sectors like fintech, healthtech, climate tech, deep tech, and AI.

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

[Potential Deals]

▪️ Vecmocon to raise $8.7 Mn; Tessellate Ventures exits with 10X return

▪️ Scaler to raise $40 Mn at reduced valuation

▪️ Bloom Hotels to raise $9 Mn in new round

▪️ Anant Goel’s Handpickd raises fresh funds

▪️ Pepperfry to secure fresh funds from existing investors

[New Launches and Partnerships]

▪️ BimaPay Finsure rolls out premium financing solutions for corporate insurance policies

▪️ Inka collaborates with Growfitter to co-develop an insurance wellness scoring system

▪️ MiStay and HyperGuest join forces to transform hourly hotel bookings

▪️ Refrens launches AI accounting agent FREYA

▪️ Policybazaar unveils 'Saarthi' elder care program for senior citizen support

▪️ Insurtech startup Covrzy joins hands with Namma Yatri to offer affordable health coverage to thousands of drivers and their families

[Financial result this week]

▪️Digit Life Insurance FY 2024-25 revenue crosses Rs 1,300 crore in first full year of operations, serves 6.7 million customers

[News flash this week]

▪️ Lenskart sets stage for IPO with public entity conversion

▪️Capillary Tech board approves Rs 2,250 Cr IPO; doubles ESOP pool

▪️Hyundai, Kia sell Rs 690 Cr Ola Electric stake with majority buyers undisclosed

▪️ Fintech unicorn Moneyview to convert into public company ahead of IPO

▪️ PhonePe acquires GSPay IP from GupShup for UPI on feature phones

▪️ Flipkart secures NBFC licence from RBI

▪️ Wise gets in-principle approval to operate as cross-border payment aggregator

▪️ Grocery startup KiranaPro hit by cyberattack ahead of fundraise; halts operations

▪️ Accel sells BlackBuck shares worth Rs 203.8 crore

▪️Afthonia Labs Onboards 7 Innovative Fintech Startups, Doubling Down on Green Finance and Cybersecurity

▪️Prosus concludes its first FoundHER Challenge, awarding $100,000 in equity-free funding to four women-led startups in India.

[Summary]

On a weekly basis, startup funding remained flat at $216.19 million as compared to around $205.76  million raised during the previous week.

Hyundai Motor and Kia Corporation have fully exited Ola Electric, offloading their entire stake for a combined Rs 690 crore through block deals on Tuesday, marking a strategic retreat from their EV investment in India.

Flipkart has secured an NBFC licence from the Reserve Bank of India, enabling it to offer loans directly. This move follows its recent entry into UPI-based payments, further expanding its footprint in financial services.

Capillary Technologies has received board approval for its Rs 2,250 crore ($265 Mn) IPO. Ahead of the listing, the Bengaluru-based loyalty management firm expanded its ESOP pool by 123% to 72.91 lakh options, now representing 9.04% of its share capital.

Omnichannel eyewear retailer Lenskart and fintech unicorn Moneyview gearing up for their initial public offers (IPO) as both the companies have converted from a private to a public entity following board approval.

Go Digit Life Insurance reported a total gross written premium of Rs 1,315.9 crore in FY25, up from Rs 492.5 crore last year. Direct premium rose to Rs 1,069.4 crore from Rs 426.4 crore YoY.

Afthonia Labs has incubated seven startups in its 2025 rolling cohort, with a focus on green finance and cybersecurity, reinforcing its fintech innovation mission. The newly incubated startups are: Investplus, RIU, Sathpay, Ingood, Funbook, Fincraft and Mantech Studio.

Prosus concluded its inaugural Tech FoundHER Challenge, awarding $100,000 in equity-free grants to four women-led startups to help bridge the gender funding gap in India. Emotion AI startup Lightbulb won the top prize of $50,000, followed by healthtech platform RxMen with $30,000. Climate tech startups Varaha and Digital Paani shared the remaining $20,000.

Several startups are in the process of raising capital, according to regulatory filings accessed by Entrackr. Vehicle intelligence company Vecmocon Technologies is raising Rs 74 crore in a mix of primary and secondary deals, Delhi-based hospitality chain Bloom Hotels is set to raise $9 million. Fresh farm produce and supply chain startup Handpickd and Omnichannel furniture brand Pepperfry are also in process of raising funds.