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

This week’s startup roundup highlights a dynamic mix of homegrown innovation and global expansion. From fashion brand Miraggio securing major funding to Nazara Technologies making a bold international acquisition, and Pointo's partnership to electrify classic Indian cars, the ecosystem continues to evolve across sectors. Here's a snapshot of the key developments.

BioState AI Raises $12M to Scale Deeptech Health Diagnostics

BioState AI, a health-focused deeptech startup, has raised $12 million in a funding round led by Accel, with participation from other key investors. The startup develops AI models that simulate human biology to enhance drug discovery and precision diagnostics, and plans to utilise the funds to strengthen its R&D capabilities, expand its scientific team, and expand global partnerships.

Mythik Secures $15M Seed Funding for Next-Gen Gaming Worlds

Founded by Jason Kothari, Mythik has raised $15 million in seed funding to build immersive, story-driven game experiences. The platform aims to blend cinematic storytelling with interactive gameplay, creating a new genre of digital entertainment for global audiences. The investment will support team growth, product development, and early global market entry.

Zuppa Raises Funds to Scale Micro-Drone ‘Ajeet Mini’

Chennai-based Zuppa, known for its UAV innovations, has raised an undisclosed amount to scale its compact micro-drone, Ajeet Mini. Designed for high-precision tasks in urban and defence settings, the funding will enable the company to ramp up production, upgrade flight control systems, and explore export opportunities.

BlackCarrot Bags Pre-Seed Investment to Reinvent Dinnerware

Premium tableware startup BlackCarrot has secured pre-seed funding from Venture Catalysts to build a stylish, sustainable dinnerware brand for urban Indian households. The funds will be used to expand product lines, develop e-commerce infrastructure, and launch targeted lifestyle campaigns.

Shuru Raises Rs. 29 Cr to Build Hyperlocal Community Commerce

Founded by the Roposo co-founders, Shuru has raised Rs. 29 crore to grow its community-driven local commerce platform. The app enables users in Tier II and III cities to discover, share, and shop within neighbourhood groups, blending content, commerce, and culture in one ecosystem.

Miraggio Secures Rs. 55 Crore in Series A to Expand Fashion Accessories Line

Homegrown fashion brand Miraggio has raised Rs. 55 crore (approximately $6.5 million) in a Series A funding round led by RPSG Capital Ventures and Client Associates Alternate Fund. The investment will support the company's plans to broaden its product offerings and strengthen its presence in the competitive fashion accessories market.

Mergers & Acquisitions 

• MoveInSync has acquired facility management startup EFM to boost global revenues and strengthen its enterprise mobility solutions.
• Groww is set to acquire wealthtech platform Fisdom in a move to enhance its offerings in financial planning and advisory services.
• Indian gaming company Nazara Technologies has acquired UK-based PC and console game publisher Curve Games for Rs. 247 crore (approximately £21.7 million).

Other News

• Hyderabad-based Indrajaal has launched an AI-powered drone defence system to safeguard critical infrastructure.
• A Bengaluru teenager has been accepted into Y Combinator, marking a milestone for young founders in India’s startup ecosystem.
• 360 One Asset has launched a Rs. 500 crore early-stage fund to back emerging Indian startups across sectors.
• Kunal Bahl’s Titan Capital has announced a dedicated investment vertical targeting defence-tech startups.
• Electric mobility startup Pointo has partnered with Jadavpur University to retrofit fossil-fuel vehicles, starting with the iconic Hindustan Ambassador, into electric vehicles.