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

This week, India’s startup ecosystem saw significant activity as companies across enterprise tech, EVs, wellness, luxury, space-tech, and climate-tech secured substantial funding. From communication platforms and luxury watches to celebrity-backed wellness brands, here’s a roundup of the top funding rounds, acquisitions, and strategic moves shaping the market.

Magma closes Series A round at $8 Mn

Enterprise communication platform Magma raised $8 million in a Series A round led by Lightspeed Venture Partners. The funding will help scale operations, expand its product suite, and strengthen its presence in the Indian market.

Oben Electric raises Rs 85 crore in Pre-Series B funding

EV startup Oben Electric secured Rs 85 crore in a Pre-Series B round from existing and new investors. The capital will be used to ramp up EV production, develop new models, and expand sales and service networks.

Shilpa Shetty-backed WickedGud raises Rs. 20 crore in fresh funding

Shilpa Shetty-backed wellness platform WickedGud raised Rs. 20 crore in a new funding round led by early-stage investors. The funds will be used to scale operations, enhance product offerings, and expand its customer base.

Premium watch startup Rotoris raises $3 Mn from Nikhil Kamath, Venture Catalysts

Luxury watch brand Rotoris raised $3 million from Nikhil Kamath and Venture Catalysts. The investment will help expand product lines, strengthen brand positioning, and scale its direct-to-consumer reach.

Ranveer Singh-owned SuperYou raises $7 million

Celebrity-backed wellness startup SuperYou raised $7 million in funding to enhance its product portfolio and expand operations. The brand plans to leverage the capital to accelerate growth and reach new customer segments.

MoEngage secures additional $180 million in Series F funding

Customer engagement platform MoEngage raised an additional $180 million in a Series F round. The funds will be used to drive global expansion, strengthen AI capabilities, and enhance product offerings.

Digantara raises $50 Mn to expand space surveillance

Space-tech startup Digantara raised $50 million to expand its space surveillance capabilities. The funding will support technology development, satellite deployments, and scaling operations globally.

Kusha Kapila and Vimarsh Razdan’s Underneat raises $6 million

Content and lifestyle brand Underneat raised $6 million in a funding round led by Fireside Ventures. The capital will be used to scale content creation, expand its platform, and reach new audiences.

Climate tech startup Aurassure secures Rs. 25 crore to fund global expansion

Aurassure, a climate tech startup, raised Rs. 25 crore to support global expansion. The funding will be used to enhance technology, scale operations, and enter new international markets.

Haircare brand Moxie Beauty raises $15 million in Series A funding

Haircare startup Moxie Beauty secured $15 million in Series A funding to expand its product offerings. The capital will also support marketing, brand-building, and scaling operations globally.

Deeptech startup Sisir Radar raises USD 7 Mn Series A funding

Deeptech company Sisir Radar raised $7 million in a Series A round led by 360 ONE Asset. The funds will be used to scale radar technology solutions and expand operations internationally.

Mergers and Acquisitions

• Freshworks, founded by Girish Mathrubootham, will acquire AI-powered incident management platform FireHydrant to enhance its enterprise service capabilities.
• SaaS firm Wingify has acquired Blitzllama to strengthen its AI-led user research and product insights offerings.

Other News

• Paytm Payments Services has received RBI approval to offer offline and cross-border payment services.
• Ola’s stock fell as CEO Bhavish Aggarwal sold 2.6 crore shares, impacting market sentiment.
• Mebigo Labs, parent of Kuku FM, has appointed bankers for a Rs. 1,800 crore initial public offering.