From Neo To Atlys— Indian Startups Raised $228 Mn This Week
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Funding momentum across the Indian startup ecosystem continued to remain stable this week amid heightened geopolitical uncertainties shaking up global markets. Twenty one startups raised $228.4 Mn between March 16 and 20, marking a 11% from the $206.5 Mn raised across 22 deals in the previous week.
Funding Galore: Indian Startup Funding Of The Week [Mar 16 — 20]
Date
Name
Sector
Subsector
Business Model
Funding Round Size
Funding Round Type
Investors
Lead Investor
20 Mar 2026
Neo Group
Fintech
Investment Tech
B2B,B2C
$53.4 Mn
–
TVS Capital
TVS Capital
16 Mar 2026
Ecofy
Fintech
Lending Tech
B2B, B2C
$42 Mn
–
British International Investment, Finnfund, FMO, Eversource Capital
British International Investment, Finnfund
16 Mar 2026
Atlys
Travel Tech
Travel Solutions
B2C
$36 Mn
Series C
Susquehanna Asia VC, MakeMyTrip, Elevation Capital, Long Journey Ventures, Peak XV Partners
Susquehanna Asia VC
19 Mar 2026
Assiduus
Enterprise Services
–
B2B
$25 Mn
Pre Series B
Bajaj FinServ, Uncorrelated Ventures, Aaruda Technology Fund
Bajaj FinServ
18 Mar 2026
Aerchain
Logistics
Procurement Services
B2B
$13 Mn
Series A
Pavestone, IndiaMART
Pavestone
18 Mar 2026
Burger Singh
Foodtech
QSR
B2C
$8.8 Mn
Series B
Artal Asia, Negen Undiscovered Value Fund, Aurum Rising India Fund
Artal Asia
17 Mar 2026
OfficeBanao
Real Estate Tech
Real Estate Services
B2B
$7.7 Mn
–
Lightspeed, Medra Family
Lightspeed
18 Mar 2026
VerbaFlo
AI
Application Layer
B2B
$7 Mn
Seed
pi Labs, Haatch, Navigate Ventures, Old College Capital
Pi Labs
17 Mar 2026
BambooBox
Enterprise Tech
Horizontal SaaS
B2B
$6.6 Mn
–
Peak XV Partners (Surge), Emergent Ventures, Arc180, Uncorrelated, HAF
Peak XV (Surge)
18 Mar 2026
CometChat
Enterprise Tech
Horizontal SaaS
B2B
$6.5 Mn
–
Run Ventures
Run Ventures
17 Mar 2026
IG Defence
Advanced Hardware & Technology
Defence Tech
B2B
$5 Mn
Pre-Series A
India Accelerator, Finvolve
India Accelerator
16 Mar 2026
Grapevine
Media & Entertainment
Social Media
B2C
$4.1 Mn
–
Kae Capital, Peak XV Partners, Ronnie Screwvala (upGrad)
–
17 Mar 2026
Velmenni
Advanced Hardware & Technology
Internet Of Things (IoT) & Hardware
B2B
$3.3 Mn
Pre-Series A
pi Ventures, MountTech Growth Fund
pi Ventures
16 Mar 2026
AGNIT Semiconductors
Advanced Hardware & Technology
Semiconductor
B2B
$2.6 Mn**
Seed
Shastra VC, 3one4 Capital, Zephyr Peacock
Shastra VC
17 Mar 2026
DrinkPrime
Ecommerce
D2C
B2C
$2.2 Mn
–
Mirabilis Investment Trust, Artha Continuum Fund
–
19 Mar 2026
Mave Health
Health Tech
Healthcare Devices
B2C
$2.1 Mn
Seed
Blume Ventures, All In Capital, Inuka Capital, Stanford Angels
Blume Ventures
17 Mar 2026
Canvaloop
Cleantech
Climate Tech
B2B
$1.4 Mn
–
GVFL, Rockstud Capital
GVFL
19 Mar 2026
Rymo Technologies
Health Tech
Medical Equipments
B2B
$1.2 Mn
Seed
IAN Angel Fund
IAN Angel Fund
18 Mar 2026
Laani
Ecommerce
D2C
B2C
$973K
Pre-Seed
V3 Ventures, Saama Capital, Arjun Purkayastha (Reckitt), Manish Taneja (Purplle), Kunal Bahl (AceVector), Aneesh Sheth (Dr. Sheth’s Skincare)
V3 Ventures, Saama Capital
19 Mar 2026
Pinq Polka
Ecommerce
D2C
B2C
$479K
Pre-Series A
Inflection Point Ventures
Inflection Point Ventures
17 Mar 2026
Moe Puppy
Ecommerce
D2C
B2C
$214K
Pre-Seed
PedalStart, Zindagi Live Angel Fund
PedalStart
Source: Inc42
*Mix of primary and secondary transactions
** Part of a larger round
Key Startup Funding Highlights Of The Week
- Fintech segment overtook ecommerce in terms of sectoral funding trends on the back of Neo Group’s $53.4 Mn and Ecofy’s $42 Mn fund raise this week.
- Ecommerce saw the highest number of four deals materialise this week, with a total capital infusion of $3.9 Mn.
- Seed funding for the week increased 12% to $12.9 Mn from $11.5 Mn raised last week
- Peak XV Partners was the most active investor, backing Atlys, BambooBox and Grapevine this week.
Startup IPO Updates This Week
- Over 16 years after listing on the Nasdaq, Delhi NCR-based MakeMyTrip is now planning for an IPO in the Indian equities market.
- SEBI has given its greenlight to the initial public offering of Fabhotels’ parent entity Travelstack Tech which is expected to comprise a fresh issue of shares worth up to ₹250 Cr and an offer-for-sale (OFS) component of up to 2.69 Cr shares
- PhonePe has paused its IPO amid heightened market volatility. Sources close to the development told Inc42 that the fintech major is likely to push its OFS-only IPOIPO at least till June 2026.
Fund Updates For The Week
- Deeptech-focused VC firm Celesta Capital is planning to launch an India-focused VC fund with a target corpus of ₹2,000 Cr, sources told Inc42. The fund will primarily invest in early-stage deeptech startups at Series A and B, with average cheque sizes ranging between $3 Mn and $7 Mn.
- Former Peak XV Partners MDs Shailesh Lakhani and Harshjit Sethi have partnered to launch an early-stage VC firm, Ambition Capital, with a maiden $250 Mn fund.
Other Updates Of The Week
- Listed gaming major Nazara is set to acquire 50% stake in Spanish casual gaming studio Bluetile Games and player engagement platform BestPlay Systems for a total consideration of $100.3 Mn.
- L’Oreal is reportedly in talks with BPC startup Innovist to buy out a majority stake in the startup. The deal could potentially value the startup in the range of $350-450 Mn.
- Tamil Nadu Industrial Development Corporation (TIDCO) plans on investing ₹25 Cr each in spacetech startup Agnikuand electric motorcycle manufacturer Raptee.
- KKR has signed a definitive agreement to buy a minority stake in electric bus manufacturer PMI Electro Mobility and a majority stake in its electric bus platform Allfleet for up to $310 Mn.
- Cofounder and CEO Gaurav Munjal took to social media platform X today on Sunday to announce that upGrad had signed a term sheet to acquire 100% stake in Unacademy.
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