From Zetwerk To Veriqus — Indian Startups Raised $209 Mn This Week
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Indian startup funding slowed in the fourth week of July. Between July 18 and July 24, Indian startups cumulatively raised about $209.1 Mn, down 26% from the $281.4 Mn raised in the preceding week.
Deal volume fell more sharply to 14 from last week’s 24 funding deals. Four rounds exceeding $40 Mn — Zetwerk, Veriqus, BUSINESSNEXT and Raghu Vamsi Aerospace — accounted for $172.1 Mn, or over 80% of the week’s total, leaving the remaining 10 startups to split about $37 Mn between them.
| Date | Name | Sector | Subsector | Business Model | Funding Round Size | Funding Round Type | Investors | Lead Investor |
| 24 Jul 2026 | Zetwerk | Enterprise Services | Manufacturing Solutions | B2B | $52 Mn | – | Bharat Value Fund (Pantomath Group) | Bharat Value Fund (Pantomath Group) |
| 20 Jul 2026 | Veriqus | Fintech | Wealth Tech | B2C | $40.1 Mn | – | Norwest | Norwest |
| 23 Jul 2026 | BUSINESSNEXT | Enterprise Tech | Horizontal SaaS | B2B | $40 Mn | Series C | ServiceNow Ventures | ServiceNow Ventures |
| 20 Jul 2026 | Raghu Vamsi Aerospace | Advanced Hardware & Technology | – | B2B | $40 Mn | – | Norwest, Skegen Asset Management, Indus Bridge Ventures, GJNX Ventures, Ashish Kacholia (Lucky Investment Managers) | Norwest, Skegen Asset Management |
| 20 Jul 2026 | Plazza | Consumer Services | Quick Commerce | B2C | $15 Mn | Series A | Accel, Elevation Capital, Nexus Venture Partners, All In Capital, Better Capital | Accel, Elevation Capital, Nexus Venture Partners |
| 23 Jul 2026 | CARPL.ai | Enterprise Tech | Vertical SaaS | B2B | $10 Mn | Series A | International Finance Corporation, Stellaris Venture Partners | International Finance Corporation |
| 21 Jul 2026 | 30 Sundays | Travel Tech | Listing & Discovery | B2C | $6.7 Mn | Series A | Bessemer Venture Partners, Info Edge Ventures, Eximius Ventures | Bessemer Venture Partners |
| 23 Jul 2026 | Farm Watt | Clean Tech | Climate Tech | B2B | $3.3 Mn | – | IAN Alpha Fund (India Angel Networks), Rainmatter | IAN Alpha Fund (India Angel Networks) |
| 22 Jul 2026 | Bioscan Research | Health Tech | Medical Equipments | B2B | $1 Mn | Seed | Unicorn India Ventures | Unicorn India Ventures |
| 20 Jul 2026 | LNGVTY | Ecommerce | D2C | B2C | $518K | Seed | Rukam Capital | Rukam Capital |
| 21 Jul 2026 | FireAI | AI | Application Layer | B2B | $259K | – | SucSEED Indovation Fund | SucSEED Indovation Fund |
| 23 Jul 2026 | NeuralKart | Fintech | Insurtech | B2C | $243K | Seed | Inflection Point Ventures | Inflection Point Ventures |
| 21 Jul 2026 | SolarSquare | Clean Tech | Climate Tech | B2B | – | Series C* | MS Dhoni (Cricketer) | MS Dhoni (Cricketer) |
| 21 Jul 2026 | Khageshvara Aviation Technology | Advanced Hardware & Technology | Aerial Vehicles | B2B | – | – | Finvolve, India Accelerator, Rukam Capital, ACIC-VGU | Finvolve, India Accelerator |
| Source: Inc42 *Part of a larger round |
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Key Startup Funding Highlights Of The Week
- Enterprise Services was the top-funded sector, drawing $52 Mn from a single deal — Zetwerk’s pre-IPO round. This round accounted for about 25% of the week’s total funding.
- Enterprisetech sector was second, raising $50 Mn across two deals. BUSINESSNEXT led the segment with a $40 Mn Series C from ServiceNow Ventures.
- AI’s share collapsed from nearly 60% of last week’s funding to a single $259K round raised by FireAI.
- Early-stage activity was thin. Three seed-stage startups raised about $1.8 Mn between them, led by Bioscan Research’s $1 Mn round. Three Series A rounds accounted for $31.7 Mn.
- Norwest backed two startups this week — Veriqus and Raghu Vamsi Aerospace — as did Rukam Capital, which invested in LNGVTY and Khageshvara Aviation Technology.
Startup IPO Updates Of The Week
- Edtech startup Klassroom fixed a price band of ₹151-159 per share for its SME IPO, which opens on July 31 and closes on August 4. Parent Fusion Klassroom Edutech is seeking a valuation of ₹148.1 Cr and looking to raise ₹39 Cr at the upper end of the price band.
- SoftBank-backed adtech unicorn InMobi has reportedly appointed JPMorgan Chase, Jefferies, Kotak Mahindra Capital and Axis Capital to helm its proposed $1 Bn (₹9,634 Cr) IPO.
Other Developments Of The Week
- Ather Energy raised about ₹1,300 Cr through a qualified institutional placement, allotting 1.08 Cr equity shares at ₹1,202 apiece. It forms part of the electric two-wheeler maker’s broader ₹2,500 Cr capital raise, with proceeds going towards debt repayment, R&D and marketing.
- Transition VC launched its second fund with a target corpus of ₹1,500 Cr (over $155 Mn) to back engineering-led startups across energy transition, advanced manufacturing and industrial deeptech. The fund will write cheques of $2 Mn to $5 Mn into more than 20 startups over four years, with deployment beginning in Q3 FY27.
- Fintech SaaS company Zaggle Prepaid Ocean Services approved a strategic investment of up to ₹7.97 Cr in Unobanc for a stake of up to 19.9%. Unobanc, a wholly owned subsidiary of Hop Financial Solutions operating under the moneyHOP brand, holds a full-fledged money changer licence.
The post From Zetwerk To Veriqus — Indian Startups Raised $209 Mn This Week appeared first on Inc42 Media.
