After gaining ground, investment activity in the Indian startup ecosystem plunged in the third week of June. Between June 16 and 21, startups raised $91.5 Mn across 10 deals, down 84% from the $559.2 Mn raised by 19 startups in the preceding week.
As private funding went for a toss in the week, the Indian startup ecosystem was rife with positive developments. While ArisInfra became the second startup to close its IPO in 2025, Capillary Technologies refiled its IPO papers. Meanwhile, Gurugram-based MakeMyTrip completed the biggest fundraise of $3.1 Bn undertaken by any Indian-origin new-age tech company.
With that, let's take a look at what happened this week.
Funding Galore: Indian Startup Funding Of The Week [ Jun 16 - 21 ]
| Date | Name | Sector | Subsector | Business Model | Funding Round Size | Funding Round Type | Investors | Lead Investor |
| 18 Jun 2025 | WIOM | Consumer Services/ Enteprise Services | - | B2B-B2C | $35 Mn | - | Bertelsmann India Investments, Accel, Prosus, Promaft Partners, RTP global | Accel, Prosus |
| 17 Jun 2025 | POP | Fintech | Banking | B2C | $30 Mn | - | Razorpay | Razorpay |
| 18 Jun 2025 | Oben Electric | Cleantech | Electric Vehicles | B2C | $11.5 Mn* | Series A | Helios Holdings, Sharda family office, Kay family | - |
| 18 Jun 2025 | Techfino | Fintech | Lending Tech | B2B-B2C | $7.5 Mn | - | Stellaris Venture Partners, Saison Capital | - |
| 17 Jun 2025 | Saswat Finance | Fintech | Banking | B2B | $2.6 Mn | Pre-Series A | Ankur Capital, Incubate Fund Asia | Ankur Capital |
| 19 Jun 2025 | illumine | Enterprise Tech | Vertical SaaS (Edtech) | B2B | $2.5 Mn | Seed | Prime Venture Partners | Prime Venture Partners |
| 17 Jun 2025 | Darwix AI | Artificial Intelligence | Application Layer | B2B | $1.5 Mn | - | Rebalance, IPV, JITO Incubation and Innovation Foundation, Growth Sense, Growth91, Ankit Nagori, Sanjay Suri, Amit Lakhotia, Mekin Maheshwari | - |
| 18 Jun 2025 | 7 Ring | Ecommerce | D2C (Consumer Electronics) | B2C | $462K | Pre-Series A | Venture Catalysts, Anchorage Capital Partners, Sheth family office | Venture Catalysts |
| 16 Jun 2025 | Nuvie | Ecommerce | D2C (F&B) | B2C | $450K | Pre-Seed | PedalStart | PedalStart |
| 17 Jun 2025 | Xportel | Logistics | Shipping & Delivery | B2B | - | Seed | Rukam Sitara, Flipkart Ventures | Rukam Sitara, Flipkart Ventures |
| Source: Inc42 *Part of a larger round **Included this week as it was skipped last week *** Includes both primary and secondary deal Note: Only disclosed funding rounds have been included |
Key Startup Funding Highlights Of The Week
- Fintech continued to be the most funded sector this week, with three startups in the space raising $40.1 Mn. This marked a near 90% decline from the $340 Mn raised by fintech startups last week
- Telecom startup WIOM's $35 Mn fundraise was the largest funding round this week. Investors like Accel, Prosus, Bertelsmann and RTP Global, among others, partook in the round.
- Three startups at the seed stage raised $3.5 Mn this week, down substantially from the $14.1 Mn raised by startups at this stage last week.
Startup IPO Developments This Week
- IPO of B2B ecommerce company ArisInfra Solutions closed with an oversubscription of 2.65X, with investors bidding for 3.47 Cr shares as against 1.31 Cr shares on offer. The company raised INR 225 Cr from anchor investors this week ahead of its public offer.
- SaaS company Capillary Technologies filed its DRHP for an IPO which will consist of a fresh issue of INR 430 Cr and an offer for sale (OFS) component comprising 18.3 Mn shares.
- Enroute to its IPO, ecommerce major Meesho received approval from the NCLT to shift its headquarters back to India from the US.
- Zepto has now deferred its IPO plans to next year to strengthen its growth, profitability and domestic ownership.
Mergers & Acquisitions This Week
- InCred's wealth arm InCred Money acquired Stocko to enter the retail broking space.
- Krutrim acquired BharatSah'AI'yak to help it advance its development of large language models (LLMs), cloud infrastructure and agentic AI platform Kruti.
Other Developments Of The Week
- Nasdaq-listed MakeMyTrip raised $3.1 Bn in a mix of convertible notes and a primary offering of shares to repurchase a portion of its Class B shares from China's Trip Group.
- Ahead of its IPO, BlueStone is inviting investors to infuse pre-IPO capital in the company at a valuation in the north of $1 Bn.
- Physis Capital raised over INR 200 Cr as part of its INR 400 Cr maiden fund. With the fund, the VC firm aims to build a portfolio of 15 to 20 startups operating in the fintech, SaaS, enterprise tech, edtech, deeptech and logistics sectors.
- PE firm Quadria Group launched HealthQuad Fund III with a target corpus of $300 Mn. The firm aims to back 13-15 healthtech startups with the fund.
- EV maker Okinawa is eyeing the raise of INR 60 Cr from existing investor Dhruv Khush Business Ventures.