Funding and acquisitions in Indian startup this week [Nov 17- Nov 22]

This week only 26 Indian startups raised a total of $220.52 million, comprising 7 growth-stage and 16 early-stage deals, while 2 startups kept their funding undisclosed.

In contrast, 25 startups had collectively secured about $169.28 million in the previous week.

[Growth-stage deals]

Growth and late-stage funding reached $164.59 million across eight deals this week. The funding was led by Fintech platform Yubi Group’s Rs 411 crore (around $46.3 million) funding round followed by agritech startup AgroStar raising $30 million in a funding round led by climate-focused investment firm Just Climate. Quick commerce and retail firm BigBasket also secured Rs 200 crore ($22.7 million) in debt from DBS Bank. Tractor-focused marketplace Tractor Junction, spacetech Agnikul, digital freight forwarder Agraga, wearable and healthtech firm Ultrahuman and proptech Stylework also secured funding this week.

[Early-stage deals]

Early-stage startups raised about $56 million across 16 deals this week, led by logistics firm Pidge with a Rs 120 crore ($13.6 million) round and AI research startup Redrob’s $10 million Series A. They were followed by AI startups Pibit.AI and Synthio Labs, fintech platform Kaaj, spacetech company Axirium Aerospace, among others.

Mobile first gaming platform STAN and real estate solutions firm Survam Properties also secured funding this week, though the amounts was not disclosed.

For a detailed funding breakdown, visit TheKredible.

[City and segment-wise deals]

By city-wise deal count, Bengaluru led with 14 deals, followed by Delhi-NCR and Chennai grabbing deals each. Pune, Alwar, Mumbai and Hyderabad also recorded deals during the week.

Segment-wise, AI startups led the week with 5 deals, followed by fintech, e-commerce, logistics, spacetech and healthtech which secured 2 deals each. Agritech, hospitality, proptech, and others also bagged funding during the period.

[Series-wise deals]

This week again seed rounds led the funding activity with 9 deals, followed by Series A with 5 deals. Debt funding recorded 2 deals. Pre-Series B, pre-seed. Series C 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 jumped by 30% to $220.52 million as compared to around $169.28 million raised during the previous week.

The average funding in the last eight weeks stands at around $298.2 million with 26 deals per week.

[Key Hirings]

BharatPe has appointed Anil Kishora as a non-executive, non-independent director on the board of Unity Small Finance Bank, where it is a joint shareholder with Centrum. Probus Insurance, backed by BlueOrchard, has named Atrey Bhardwaj as its Chief Growth Officer.

VisitTheKrediblefor more details

[Fund Launches]

SIDBI Venture Capital Ltd (SVCL) has completed the first close of its Antariksh Venture Capital Fund at Rs 1,005 crore, largely backed by a Rs 1,000 crore commitment from IN-SPACe. The Rs 1,600 crore spacetech fund will invest in Indian startups across launch systems, satellites, in-space services, ground infrastructure, earth observation, communications and related applications.

[Mergers and Acquisitions]

Icertis, an AI-driven contract intelligence platform, has acquired Dioptra to further advance its AI capabilities for enterprise contracting. The deal represents a significant step in the company’s long-term AI roadmap after the launch of Icertis Vera, marking a key inflection point in contract lifecycle management (CLM) innovation.

[New Launches and Partnerships]

▪️ Even Healthcare launches comprehensive maternity care plan in India

▪️ NODWIN Gaming partners with Exceed Entertainment

▪️Swiggy partners with upGrad to offer higher-education opportunities for delivery partners

[Financial result this week]

▪️ Groww posts Rs 471 Cr profit on Rs 1,019 Cr revenue in Q2 FY26

▪️ Zoho-backed Ultraviolette reports Rs 32 Cr revenue and Rs 116 Cr loss in FY25

▪️ VAHDAM India turns profitable in FY25; clocks 95% revenue from global markets

▪️ Mosaic Wellness revenue doubles to Rs 736 Cr in FY25, nears break-even

▪️ Acko posts Rs 2,837 Cr revenue in FY25, trims losses by 37%

▪️ Wingify profit drops over 60% in FY25; revenue grows to Rs 386 Cr

▪️Digit Life Insurance H1 FY26 revenue up 31% to Rs 858 Cr; claims exceed Rs 200 crore

[News flash this week]

▪️ Capillary Technologies lists at 3% discount despite 53X subscribed IPO

▪️ Government says 26 firms declare 'no dark patterns'

▪️ Elevation trims Paytm stake via Rs 1,556 Cr bulk deal

▪️ PhonePe records 9.4 Bn UPI transactions in October

▪️ PhysicsWallah lists at Rs 145 with 33% premium on stock exchange

[Summary]

On a weekly basis, startup funding jumped by 30% to $220.52 million as compared to around $169.28 million raised during the previous week.

This week, tech stocks entered the market with contrasting debuts. PhysicsWallah, despite being subscribed only 1.8 times, listed at a 33 percent premium to its issue price. On the other hand, Capillary Technologies, even after being oversubscribed 53 times, listed at a 3 percent discount.

PhonePe and Google Pay dominated UPI customer-initiated transactions in October, jointly capturing nearly 80% of the total volume and value. PhonePe led with 9.4 billion transactions and Rs 13,06,401.90 crore in value, giving it a 45.47% volume share and 47.88% value share. Google Pay followed with 7.1 billion transactions and Rs 9,54,186.10 crore processed, accounting for 34.62% of volume and 34.98% of value.

Paytm’s parent One97 Communications witnessed a significant shareholder shift this week as Elevation Capital (formerly SAIF Partners) offloaded a 1.86% stake in the fintech major through a bulk deal worth Rs 1,556 crore.

The Ministry of Consumer Affairs said 26 e-commerce platforms have submitted self-declarations confirming their interfaces are free of dark patterns. Following new guidelines against manipulative design practices, companies including Flipkart, Amazon, Zepto, Myntra, MakeMyTrip, BigBasket, Swiggy, Zomato and Meesho have completed audits and declared compliance.