Startup Roundup: Ecosystem, Mergers, Acquisitions and Funding News this week

Startup World: What's New 

India’s startup ecosystem recorded a steady yet consequential week, shaped by policy signalling, corporate partnerships, capital market activity and strategic recalibration. Developments across artificial intelligence, digital commerce, fintech and deep-tech reflected a sector balancing state support with tighter oversight and growing financial discipline.

On the policy front, Prime Minister Narendra Modi outlined the government’s MANAV vision at a major summit, calling for the democratisation of artificial intelligence and wider public access to emerging technologies. The remarks reinforced the Centre’s position that AI development should be inclusive, while also aligning with broader efforts to strengthen India’s domestic capabilities. In parallel, the Startup India Fund of Funds 2.0 initiative signalled a renewed push to channel capital into early-stage ventures, particularly in priority and high-impact sectors.

Institutional and corporate collaborations in AI gathered pace. Google DeepMind partnered with the Anusandhan National Research Foundation to expand research and education access in artificial intelligence, indicating continued global interest in India’s academic and innovation base. The Tata Group also entered into a tie-up with OpenAI, underlining how established business houses are positioning themselves within the AI value chain. Meanwhile, Larsen & Toubro and Nvidia announced plans to build a large-scale AI facility in India, reflecting rising investment in computational infrastructure.

Domestic AI capability remained in focus. Sarvam AI introduced locally developed large language models aimed at competing with global systems such as OpenAI’s ChatGPT and Google’s Gemini. The move highlights growing ambition among Indian startups to develop foundational AI models rather than rely solely on overseas platforms.

In digital commerce, competitive pressures became more visible. Swiggy shut down its 10-minute food delivery service Snacc, citing profitability concerns, signalling the continued reassessment of rapid-delivery models. IPO-bound Zepto discontinued its membership programme Zepto Daily, indicating a sharper focus on operational efficiency ahead of a public listing.

Fintech and crypto-related developments reflected both liquidity events and regulatory scrutiny. CoinDCX announced a Rs. 111 crore ESOP buyback, offering liquidity to more than 500 employees, a sign of internal capital management amid a cautious funding environment. At the same time, the Enforcement Directorate seized assets worth Rs. 590 crore linked to WinZO Pvt Ltd as part of a FEMA-related probe, underscoring ongoing regulatory oversight in the online gaming and digital payments space.

Taken together, the week’s developments point to an ecosystem that is expanding in capability while operating within firmer policy and financial guardrails. Government-backed AI initiatives, global research partnerships and infrastructure investments suggest sustained ambition. However, service shutdowns, programme discontinuations and enforcement actions reflect a parallel emphasis on compliance, profitability and governance. India’s startups appear to be navigating a phase where scale is increasingly balanced with sustainability and regulatory accountability.

Funding News 

Portkey raises $15 million in Series A led by Elevation

AI apps building platform Portkey raised $15 million in a Series A round led by Elevation Capital to strengthen its AI infrastructure stack and scale enterprise adoption globally.

Pluto Mobility raises $2 million in seed round

EV startup Pluto Mobility secured $2 million in a seed funding round to design and manufacture delivery-focused electric vehicles tailored for last-mile logistics use cases.

Statiq raises $18 million to expand EV charging network

EV charging solutions provider Statiq raised $18 million to expand its charging infrastructure footprint and strengthen its presence across urban and highway networks.

Peptris secures Rs. 70 crore in Series A round

AI-driven drug discovery startup Peptris secured Rs. 70 crore in a Series A round to advance its AI-generated drug pipeline towards clinical trials within the next 24 months.

Vervesemi Microelectronics raises $10 million

Chip design startup Vervesemi Microelectronics secured $10 million to accelerate development of its semiconductor design capabilities and expand engineering operations.

Stable Money raises $25 million led by Peak XV

Stable Money raised $25 million in a funding round led by Peak XV Partners at a reported valuation of $175 million to scale its fixed-income investment platform and broaden distribution.

CraftifAI raises $3 million

Embedded software-focused AI startup CraftifAI raised $3 million to build AI-led tools aimed at improving productivity and automation in embedded systems development.

C2i Semiconductors raises $15 million

Semiconductor startup C2i Semiconductors secured $15 million from Peak XV Partners and other investors to advance its chip innovation and expand R&D capabilities.

e-TRNL Energy raises Rs. 27.4 crore in seed round

Battery technology startup e-TRNL Energy raised Rs. 27.4 crore in seed funding to scale next-generation battery cell innovation and strengthen its manufacturing roadmap.

Six Sense Mobility raises $4.8 million

Mobility solutions startup Six Sense Mobility raised $4.8 million in a funding round led by investor Ashish Kacholia to expand its technology platform and operational footprint.

IDfy raises over $52 million in Series F

Regtech firm IDfy raised more than $52 million in a Series F round to expand its global presence and strengthen its digital verification and risk management solutions.

DUSQ raises Rs. 24 crore to enter US market

Sleeptech startup DUSQ raised Rs. 24 crore in funding to support its entry into the United States and expand its product portfolio in the premium sleep solutions segment.

Mergers and Acquisitions

• Ixigo will acquire a majority stake in Spanish train booking platform Trenes.com for Rs. 125 crore to strengthen its international rail distribution footprint.
• Hindustan Unilever Limited has taken full ownership of nutrition brand OZiva while divesting its stake in Nutritionalab as part of a portfolio realignment.
• USV Pharma has acquired a 79% stake in Wellbeing Nutrition for Rs. 1,583 crore to expand its presence in the consumer health and nutrition segment.