Startups, Mergers, Acquisitions and Funding Round-up this week

This week, India’s startup ecosystem is buzzing with activity marked by significant funding deals, strategic acquisitions, and impactful collaborations across sectors. From AI-powered edtech and digital spirituality to logistics and wellness, startups like SigIQ.ai, Bhagva, Xindus, and Mosaic Wellness are drawing strong investor interest. Meanwhile, global partnerships such as AMTZ’s medtech push with FORGE, and Dixon Technologies’ JV with Signify signal a growing thrust on manufacturing and healthcare innovation.

SigIQ.ai Raises $9.5M to Expand AI Tutoring Platforms

AI-driven education startup SigIQ.ai has secured $9.5 million in seed funding, co-led by The House Fund and GSV Ventures, with participation from Duolingo, Peak XV Partners, and others. The company, co-founded by Dr. Karttikeya Mangalam and Professor Kurt Keutzer, aims to scale its AI-powered tutoring platforms—PadhAI for UPSC aspirants and EverTutor for GRE preparation—across global and Indian markets.

Bhagva Secures $1M to Enhance Digital Spiritual Services

Delhi-based digital spirituality platform Bhagva has raised $1 million in a pre-Series A funding round led by Australian investor Pradeep Nain. Founded in 2022 by Jagriti Motwani, Bhagva offers online and offline pooja services, pandit bookings, daily Panchang readings, and horoscope-based guidance. 

Xindus Raises $10M to Expand Cross-Border Logistics

Gurugram-based cross-border logistics startup Xindus has raised $10 million in a Series A funding round led by 3one4 Capital and Orios Venture Partners, with participation from Shastra VC and Caret Capital. 

Tessell Raises $60M in Series B to Advance AI-Powered Data Management

San Francisco-based multi-cloud database-as-a-service (DBaaS) provider Tessell has raised $60 million in a Series B funding round led by WestBridge Capital, with participation from Lightspeed Venture Partners, B37 Ventures, and Rocketship.vc.

Eloelo Secures $13.5M to Expand Multilingual Live Social Platform

Bengaluru-based Eloelo, a live social entertainment platform, has raised $13.5 million in a Series B funding round led by Play Ventures. The platform plans to utilise the funds to enhance its AI-driven creator tools, expand into Indian diaspora markets, and scale its offerings.

Mosaic Wellness Raises ₹175 Crore to Scale Digital Health Brands

Mumbai-based Mosaic Wellness, the parent company of Man Matters, Be Bodywise, and Little Joys, has secured ₹175 crore (approximately $20 million) from Think Investments. The funding will support the company's growth and expansion plans.

Amicco Secures $1M Seed Funding to Modernise Auto Spare Parts Procurement

Gurugram-based B2B startup Amicco has raised $1 million in seed funding led by Eximius Ventures, with participation from FJ Labs and other investors. Founded in 2024 by Vivek Aalok, Amicco aims to streamline the sourcing of auto spare parts for independent garages by addressing challenges like fragmented supply chains and inconsistent pricing.

Mergers and acquisitions

• Remsons Industries has acquired a 51.01% stake in Astro Motors for ₹14.22 crore, aiming to enhance its presence in the electric three-wheeler market.
• Metropolis Healthcare is set to acquire Dehradun-based Dr. Ahuja's Pathology & Imaging Centre for ₹35.01 crore, strengthening its diagnostic network in North India.
• Dixon Technologies and Signify have agreed to establish a 50:50 joint venture in India to manufacture lighting products, supporting the 'Make in India' initiative.

Other News:

• VIT-AP University has partnered with the IIT Madras Incubation Cell to foster the growth of deep-tech startups. This collaboration aims to provide mentorship, resources, and support to emerging ventures in the deep technology sector.
• The Southern Gujarat Chamber of Commerce and Industry (SGCCI) has inaugurated the Smart Education Expo and Startup Summit in Surat.
• SahiBandhu, a gold loan aggregator platform backed by The Manipal Group, has rebranded itself as Manipal Fintech.
• The Andhra Pradesh MedTech Zone (AMTZ) has partnered with FORGE Innovation & Ventures to establish a robust medtech startup ecosystem within the Medivalley Research Square in Visakhapatnam. 
• Australian cricketer Glenn Maxwell has made his first investment in the Indian startup ecosystem by investing in Drive FITT, a membership-based sports club focused on cricket, fitness, and recovery.