SUMMARY
Homegrown new-age tech companies collectively raised $347.7 Mn between 15-19
Rainmatter, Fireside Ventures, Titan Capital and 360 One Asset remained the most active investors in the Indian startup ecosystem this week
Ecommerce topped the funding charts and raised $48.3 Mn this week, up 5X from $7.7 Mn raised in the previous week
After nearly six weeks of muted funding trends, the Indian startup ecosystem bounced back strongly this week. Homegrown new-age tech companies collectively raised $347.7 Mn between 15-19, highlighting growing investor interest.
On a week-on-week basis, funding numbers grew 173% from $127.2 Mn bagged in the previous week.
Meanwhile, in terms of deal count, 27 transactions materialised this week compared to 21 last week.
Funding Galore : Indian Startup Funding Of The Week (Dec 15- Dec 19)
| Date | Company | Sector | Subsector | Business Model | Funding Round Size | Funding Round Type | Investors | Lead Investor |
| 17 Dec 2025 | MoEngage | Enterprise Tech | Horizontal SaaS | B2B | $180 Mn* | Series F | Chrys Capital, Dragon Funds and Schroders Capital, Goldman Sachs Alternatives and new investor A91 Partners | Chrys Capital, Dragon Funds and Schroders Capital |
| 16 Dec 2025 | Dignatara | Advanced Hardware and Technology | Spacetech | B2B, B2G | $50 Mn | Series B | SBI Investments Co Japan, 360 One Asset and entrepreneur Ronnie Screwvala, Peak XV Partners and Kalaari Capital | – |
| 16 Dec 2025 | Moxie Beauty | Ecommerce | D2C | B2C | $15 Mn | Series A | Navin Parwal, Sangeet Agarwal, Arjun Purkayastha, Fireside Ventures, Shantanu Deshpande, Suhasini Sampath, Rohit Kapoor, Bessemer Venture Partners | Bessemer Venture Partners |
| 19 Dec 2025 | StockGro | Fintech | Investment Tech | B2C | $13 Mn | Series B | BITKRAFT Ventures | BITKRAFT Ventures |
| 18 Dec 2025 | WorkIndia | Enterprise tech | HR Software | B2B | $10.8 Mn | Series B | BEENEXT Capital, Avishkaar Capital | Avishkaar Capital |
| 17 Dec 2025 | Tagbin | Enterprise Services | Consulting | B2B | $10 Mn | – | Sagen Flagship Growth OE Fund, the Soanvadian Come, the Queet, Rameas Damani, Moheet Agarties, Iddhatan Ier, Abinandan Lone | – |
| 18 Dec 2025 | Oben Electric | Clean Tech | Electric Vehicles | B2B | $10 Mn | Pre-Series B | Raj K Soin, Musa Dakri, Ramesh Bhutada | – |
| 19 Dec 2025 | Virohan | Edtech | Digital Learning Platform | B2C | $7.5 Mn | Series B | Mynavi Corporation, Blume Ventures, Bharat Inclusive Technologies Seed Fund, Rebright Partners | Mynavi Corporation |
| 17 Dec 2025 | SuperYou | Ecommerce | D2C | B2C | $7 Mn | Series B | V3 Ventures, Rainmatter, Gruhas Collective Consumer Fund | V3 Ventures |
| 15 Dec 2025 | Radar Comb | Advanced Hardware and Technology | Spacetech | B2B, B2G | $7 Mn | Series A | 360 ONE Asset and Shastra VC | 360 ONE Asset |
| 16 Dec 2025 | Underneat | Ecommerce | D2C | B2C | $6 Mn | Pre-Series A | Fireside Ventures | Fireside Ventures |
| 19 Dec 2025 | Food Agro Foods | Ecommerce | D2C | B2C | $5.8 Mn | Series A | IvyCap Ventures | IvyCap Ventures |
| 15 Dec 2025 | Atomberg | Ecommerce | D2C | B2C | $4.8 Mn | – | Forj Capital, White Whale Partners, Tanmay Bhatt | Forge Capital |
| 15 Dec 2025 | Rotor | Ecommerce | D2C | B2C | $3 Mn | – | Nikhil Kamath, Venture Catalysts, 100Unicorns, Vivek Oberoi, Tanmay Bhatt, Varun Alagh, Gaurav Khatri, Nitin Jain, Vivesh Khurana | Nikhil Kamath, Venture Catalysts, 100Unicorns, Vivek Oberoi, Tanmay Bhatt |
| 18 Dec 2025 | Magma | Enterprise Services | Manufacturing services | B2B | $3 Mn | Series A | Rainmatter, Unicorn India Ventures, Maithan Alloys | Rainmatter |
| 16 Dec 2025 | Aurassure | Clean Tech | Climate Tech | B2B | $ 2.8 Mn | Pre-Series A | Rainmatter, Unicorn India Ventures, Maithan Alloys | Rainmatter, Unicorn India Ventures |
| 19 Dec 2025 | Milk Station | Ecommerce | D2C | B2C | $2.5 Mn | – | V-Dairy | V-Dairy |
| 17 Dec 2025 | WickedGud | Ecommerce | D2C | B2C | $2.2 Mn | – | Shilpa Shetty, Orios Venture Partners, Asiana Fund | – |
| 15 Dec 2025 | CuePilot AI | AI | Application Layer | B2B | $1.8 Mn | Pre-Seed | Super Ventures, Titan Capital, Unilazer Ventures | Unilazer Ventures |
| 17 Dec 2025 | Decode Age | Health Tech | Lifesciences | B2B | $1.7 Mn | Pre-Series A | Krishna Prasad Chigurupati | Krishna Prasad Chigurupati |
| 16 Dec 2025 | EDT | Ecommerce | D2C | B2C | $1.4 Mn | Pre-Seed | Sauce VC, Consumer Collective, Mithun Sacheti, Amit Khatr, Varun Khaitan | Sauce VC |
| 16 Dec 2025 | Quintrans | Advanced Hardware and Technology | Robotics | B2B | $750 K | Pre-Seed | Capital-A, Sumeet Kabra, SanchiConnect, AIC-Pinnacle, IIMA Ventures | Capital-A |
| 17 Dec 2025 | Cellarim Labs | Clean Tech | Climate Tech | B2B | $714K | Seed | 3i Partners, Venture Catalysts, Momentum Capital, Jashan Bhumkar, Gayathri Kuppendra Reddy | 3i Partners, Venture Catalysts |
| 15 Dec 20205 | IPF | Ecommerce | Vertical Marketplace | B2C | $385K | Seed | Titan Capital, Better Capital and Ranjit Pratap Singh, Aashish Jindal, Vivek Gulati, Abhishek Bhayana | Titan Capital |
| 16 Dec 2025 | Swizzle | Ecommerce | D2C | B2C | $238K | Seed | Sooraj Singh, Shaili Chopra | – |
| 9 Dec 2025 | ClayWorks** | Real Estate Tech | Property Listing & Discovery | B2B | – | – | NuVentures | NuVentures |
| 17 Dec 20205 | Novyte Materials | AI | Application Layer | B2B | – | Seed | Sandesh Paturi, Niharika Jain, Theia Ventures | Theia Ventures |
| Source: Inc42 *Mix of equity and debt **Included this week as it was skipped in the previous week Note: Only disclosed funding rounds have been included been included | ||||||||
Key Funding Highlights Of The Week
- Ecommerce topped the funding charts and raised $48.3 Mn this week, up 5X from $7.7 Mn raised in the previous week. The sector also clocked the highest number of deals at 11.
- Oddly, investor favourite fintech managed to clinch just one deal worth $13 Mn this week. This was an aberration for the sector, which has consistently led in terms of funding and deal count since the past few weeks.
- Rainmatter, Fireside Ventures, Titan Capital and 360 One Asset remained the most active investors in the Indian startup ecosystem this week.
Startup IPO Updates Of The Week
- Travelstack Tech, the parent of travel-focussed SaaS platform and budget hotel chain FabHotels, filed its draft red herring prospectus (DRHP) with SEBI. The company’s IPO comprises a fresh issue of shares worth up to INR 250 Cr and an offer-for-sale (OFS) component of up to 2.69 Cr shares.
- Ecommerce enablement giant Shiprocket also filed its updated DRHP with SEBI for INR 2,342.3 Cr IPO. Its public issue comprises a fresh issue of equity shares worth up to INR 1,100 Cr and an OFS of up to INR 1,242.3 Cr.
- Insurtech soonicorn Turtlemint received SEBI approval to float its public issue. The company had confidentially filed its DRHP with the regulator in September for an IPO in the range $200 Mn to $250 Mn.
M&A Updates Of The Week
- Nasdaq-listed SaaS major Freshworks signed an agreement to acquire FireHydrant, an AI-led incident management platform, for an undisclosed amount. Freshworks said the acquisition will enable its clients to reduce outages and improve service reliability.
- IPO-bound ecommerce giant Flipkart will acquire a majority stake in startup Minivet AI to strengthen its GenAI capabilities. Founded in 2024, Minivet’s platform can transform static product images into engaging video content via GenAI.
Fund Updates Of The Week
- VC firm Speciale Invest is planning to launch a growth-stage fundwith a target corpus of INR 1,400 Cr, to back deeptech startups. The fund will invest in 12-15 startups, with an average ticket size of $5 Mn to $8 Mn
- Neon Fund announced the final close of its third fund at $25 Mn. The fund is focussed on backing AI-driven B2B SaaS startups
- Edtech startup Imarticus Learning unveiled an INR 25 Cr venture fund, in collaboration with BLinC Invest, to support student entrepreneurs. The fund aims to provide early-stage capital, mentorship and a structured platform for learners to build startups alongside their studies.
- BizDateUp announced an INR 50 Cr fund, focussed solely on supporting women-led startups across India. The fund will offer capital and mentorship to emerging new-age tech companies across sectors like healthcare, ecommerce and sustainability.
Other Developments
- Fintech SaaS startup Zaggle raised about INR 15 Cr by issuing 10.58 Lakh warrants to Times Group parent BCCL and promoter group entity RAN Ventures.
- Swiggy raised about INR 10,000 Cr via a qualified institutional placement (QIP) by issuing 26.7 Cr equity shares to the incoming investors. The company said that it allocated the new shares at INR 375 apiece, a discount of about 4% to the floor price of INR 390.5.
- Trading platform Sahi is in talks to raise $30 Mn to $35 Mn in its Series B round at a valuation of over $200 Mn from existing backers Accel and Elevation Capital. The fresh capital will be utilised to strengthen its technology platform, scale market presence, and grow its team.
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