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

India’s startup and business ecosystem witnessed a flurry of activity this week, marked by substantial fundraises, strategic partnerships, and key acquisitions. These developments reflect the resilience and momentum of India’s ever-evolving entrepreneurial landscape.

Dhan Becomes a Unicorn with $120 Mn Fundraise

Mumbai-based investment platform Dhan has officially joined the unicorn club after raising $120 million in a round led by Hornbill Capital. The fresh capital is expected to be used to enhance its product stack, expand user base, and strengthen its market position in the retail investing space.

Rusk Media Raises Rs. 103 Cr in Series B Round

Content and gaming platform Rusk Media has raised Rs. 103 crore in a Series B funding round led by IvyCap Ventures. The company plans to use the funds to scale its IPs and grow its OTT platform, Rusk Studios, which caters to Gen Z audiences.

Qapita Raises $26.5 Mn, Expands to US with Charles Schwab

Singapore- and India-based equity management platform Qapita secured $26.5 million in Series B funding. Alongside the funding, the company announced a strategic partnership with Charles Schwab, marking its entry into the US market.

Intangles Secures $30 Mn from Avataar Venture Partners

Intangles, a digital twin solutions provider for the automotive sector, raised $30 million in a funding round led by Avataar Venture Partners. The funds will be used to expand its global presence and invest in R&D.

JSW One Platforms Bags Rs. 575 Cr to Strengthen NBFC Arm

JSW One Platforms, the B2B e-commerce arm of the JSW Group, has raised Rs. 575 crore. The company aims to use the capital to expand operations and bolster its non-banking financial company (NBFC) business.

Meolaa Raises $6 Mn to Launch Two New Beauty Brands

Sustainable D2C marketplace Meolaa raised $6 million to launch two new beauty and personal care (BPC) brands. The funds will support expansion across digital and retail channels.

Greylabs AI Raises Rs. 85 Cr for R&D and BFSI Expansion

Voice AI startup Greylabs AI raised Rs. 85 crore in a Series A round. The funding will be allocated primarily to research and development, with a focus on expanding into the BFSI sector.

Eternz Raises Pre-Series A, Partners with Timex Group India

Luxury watch and accessories brand Eternz raised an undisclosed amount in a Pre-Series A round. It also announced a strategic partnership with Timex Group India to bolster its product line and distribution.

Reo.Dev Raises $4 Mn for AI-Powered Revenue Intelligence

AI-driven SaaS startup Reo.Dev secured $4 million to further develop its revenue intelligence tool aimed at enhancing enterprise sales strategies.

Lucio Raises $5 Mn to Revolutionise LegalTech with AI

LegalTech platform Lucio raised $5 million to expand its AI-based legal assistant product suite. The startup aims to streamline legal workflows for professionals and businesses alike.

August AI Secures $3 Mn from Accel and Claypond Capital

Generative AI startup August AI closed a $3 million round led by Accel and Claypond Capital. The funding will be directed towards team expansion and tech development.

KGeN Raises $13.5 Mn to Expand Blockchain Gaming Protocol

Gaming network KGeN raised $13.5 million to scale its blockchain-based game distribution infrastructure. The startup aims to decentralise gaming content and improve developer monetisation.

EcoEx Secures $4 Mn for Waste Management Tech

Waste management startup EcoEx raised $4 million in seed funding to enhance its tech platform that tracks and optimises plastic credit transactions for corporates.

Morphing Machines Raises Rs. 38.4 Cr for Semiconductor R&D

Pune-based Morphing Machines, a fabless semiconductor startup, raised Rs. 38.4 crore to invest in chip design and product development for AI and high-performance computing applications.

OZi Raises $3.3 Mn for Baby Care Quick Commerce

Quick commerce startup OZi, focused on baby care products, raised $3.3 million from Blume Ventures and others. The funds will help the startup expand in metro and tier-2 cities.

The Medical Travel Company Raises $4.5 Mn from Dineout Founders

Founders of Dineout raised $4.5 million for their new venture The Medical Travel Company, which aims to assist patients with international medical travel and treatment logistics.

Mergers & Acquisitions

• IPO-bound investment platform Groww has completed the acquisition of wealth-tech startup Fisdom after receiving SEBI approval. The move is expected to bolster Groww’s advisory services and widen its user base in Tier 2 and Tier 3 cities.

Other News

• Online meat delivery platform Zappfresh debuted on the stock market with a 20% premium over its issue price. Shares hit the upper circuit on the listing day, signalling strong investor interest.
• Agritech platform Tractor Junction has crossed the Rs. 100 crore revenue mark for FY25, demonstrating strong traction in the farm equipment marketplace sector.
• Logistics tech startup Stackbox is preparing to launch its Series A round at a $40 million+ valuation. The funding will be aimed at expanding its fulfilment and delivery capabilities.
• Lending startup Niro has officially ceased operations after struggling to scale sustainably. The closure comes amid growing regulatory pressure and rising NPAs in the consumer credit segment.