Funding and acquisitions in Indian startup this week [Oct 06- Oct 11]

During the week, 36 Indian startups raised a total of $310.72 million, comprising 6 growth-stage and 27 early-stage deals, while 3 startups kept their funding undisclosed.

In contrast, 17 startups had collectively secured about $206.89 million in the previous week.

[Growth-stage deals]

Growth and late-stage funding reached $219.2 million across five deals this week. Raise Financial Services, parent of stockbroking platform Dhan, led the pack with a $120 million round led by Hornbill Capital, turning it into a unicorn. Intangles raised $30 million in a Series B led by Avataar Venture Partners, while Singapore-based Qapita secured $26.5 million from US-based Charles Schwab Corporation. Other notable deals included Hunger Inc, Gen-Z/A-first digital entertainment company RuskMedia and FableStreet parent FS life.

[Early-stage deals]

On the early-stage front, 27 startups raised around $91.5 million this week. Blockchain startup KGeN led the pack with a $13.5 million round from Prosus, Accel, and Jump Crypto, followed by electronics design firm Ekkaa Electronics, cybersecurity startup Pantherun Technologies, Voice AI platform GreyLabs AI, and FMCG brand Meolaa, among others.

Consumer engagement platform Trozo, a jewellery marketplace, and a D2C flame-free home fragrance brand also raised funding this week, though the amounts were not disclosed.

For a detailed funding breakdown, visit TheKredible.

[City and segment-wise deals]

By city-wise deal count, Bengaluru-based startups led with 18, followed by Delhi-NCR with 10 deals. Pune, Mumbai, & Hyderabad also saw activity with deals closed this week.

Segment-wise, AI and e-commerce startups led the week with five deals each, followed by fintech and healthtech with three deals apiece. SaaS, deeptech, EV, and other startups also secured funding during the period.

[Series-wise deals]

This week, seed rounds led the funding activity with 14 deals this week, followed by Series A and pre-seed with 6 deals apiece. Series B and pre-Series A 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 50% to $310.72 million as compared to around $206.89 million raised during the previous week.

The average funding in the last eight weeks stands at around $275.11 million with 25 deals per week.

[Key Hirings]

This week saw only 2 notable key hirings. Quick commerce giant Zepto announced Sneha Arora as its Chief Human Resources Officer (CHRO) and SaaS company Wingify appointed Aarthi Ramamurthy to board to drive AI-led strategy.

VisitTheKrediblefor more details

[Fund Launches]

UK-based AI chipmaker Graphcore, backed by SoftBank, will invest £1 billion ($1.3 billion) in India over the next decade, setting up its first AI engineering campus in Bengaluru and creating 500 semiconductor jobs. Venture capital firm Theia Ventures closed the first $15 million of its $30 million Fund I, targeting deeptech, energy transition, and decarbonisation startups. Fund management platform Aavishkaar Group launched OneAavishkaar to support emerging venture funds and partnered with Jamwant Ventures to launch a Rs 500 crore defence and deeptech-focused fund.

[Mergers and Acquisitions]

Investment platform Groww has acquired Bengaluru-based wealth tech startup Fisdom, following SEBI approval. The acquisition will help Groww expand its wealth management offerings and reduce reliance on market-linked trading revenues ahead of its planned public debut.

[Shutdown]

Fintech startup Niro has shut down after four and a half years, founder Aditya Kumar announced, despite raising around $20 million from investors including Elevar Equity, GMO Venture Partners, Rebright Partners, Mitsui Sumitomo Insurance VC, and Innoven Capital.

[ESOP Buyback]

Insurtech major InsuranceDekho has launched its first ESOP liquidity program worth $2 million, allowing employees to partially cash out vested stock options. Around 150 current and former employees participated through a secondary sale, gaining financial returns while retaining a stake in the company. The firm plans to expand the program with new grants to benefit employees at all levels as it scales.

[New Launches and Partnerships]

▪️ RBI introduces Offline CBDC; users can pay without internet

▪️ Razorpay, NPCI and OpenAI partner to launch agentic payments in India

▪️ PayU and Mindgate roll out UPI NXT Stack to boost real-time payments

▪️ Zenalyst launches AI Finance Workforce to transform corporate finance

▪️ Yaantra co-founder Jayant Jha launches BytePe, a smartphone subscription platform

▪️ Flipkart and Pine Labs launch the Flipkart Bharat Yatra Card to simplify and speed up daily commuting

▪️ Phi Commerce launches AI-Powered real-time fraud detection platform ‘Phi-ter’

▪️ QubeHealth-Pay partners with Volt Money

▪️ Gnani.ai launches AI-generated digital human

[Financial result this week]

▪️ Info Edge posts Rs 729 Cr revenue in Q2 FY26

▪️ Neobank unicorn Open posts Rs 46 Cr revenue in FY25; outstanding losses mounts to Rs 1,921 Cr

▪️ Tractor Junction revenue crosses Rs 100 Cr in FY25

▪️ Amazon Pay India’s growth stalls in FY25

▪️ Burma Burma crosses Rs 100 Cr revenue in FY25; almost breaks even

▪️ M League earns Rs 560 Cr from overseas in FY25, turns profitable

▪️ Cashfree posts Rs 640 Cr revenue in FY25, losses rise 14%

▪️ Cashify’s FY25 income nears Rs 1,100 Cr, losses shrink 80%

[News flash this week]

▪️ Prosus to acquire 10.1% stake in ixigo for Rs 1,296 Cr

▪️ Zappfresh IPO lists at 20% premium; shares hit upper circuit

▪️ Lending startup Niro shuts down operations

▪️ PedalStart’s Hustlers’ Mela 3.0 secures over $550K in startup investments; portfolio value surpasses  $40 million

▪️ Wakefit secures SEBI nod for IPO

▪️Pay10 ropes in Virat Kohli and Anushka Sharma as global brand ambassadors

[Summary]

On a weekly basis, startup funding jumped 50% to $310.72 million as compared to around $206.89 million raised during the previous week.

Ixigo’s parent, Le Travenues Technology, has approved a Rs 1,295.56 crore ($146 million) investment from Prosus through a preferential issue, giving Prosus a 10.1 percent stake at Rs 280 per share, slightly above the 10-day volume-weighted average price.

DSM Fresh Foods, the parent company of online meat delivery platform Zappfresh, made a strong debut on the BSE SME this week, listing at Rs 120 per share, a 20% premium over its issue price of Rs 100.

Pine Labs and Flipkart have launched the Flipkart Bharat Yatra Card, a digital prepaid card for public transport in India. Compatible with NCMC-enabled buses, metros, and other transit, it aims to streamline payments, reduce queues, and speed up travel for commuters.

PedalStart’s flagship event, Hustlers’ Mela 3.0, secured over $550,000 in investor commitments for five high-potential startups backed by the PedalInvest Club. The event saw 250+ investors, including VCs, family offices, and ecosystem leaders, engaging with founders to drive not just capital, but long-term collaboration and knowledge exchange in India’s startup ecosystem.

Digital payments and fintech company Pay10 has appointed Virat Kohli and Anushka Sharma as its global brand ambassadors. The duo will front the company’s upcoming brand campaigns, starting with the launch of Pay10’s UPI-enabled payments app in India.