Indian Startups Raise Over INR 160 Crore: Five Deals That Moved Cash

Indian startups pulled in more than INR 160 crore across five deals this month, with Zerodha's Rainmatter, Inflection Point Ventures and IvyCap Ventures leading the largest rounds. The money spread across manufacturing, deeptech, rural healthtech, wellness and fintech. Here is where the cash went and what each company plans to do with it.

What did Venttup raise?

Venttup, an Industries 5.0 startup in Manufacturing as a Service, raised $3 million in a Pre-Series A round led by Rainmatter by Zerodha and Unicorn India Ventures. The company will spend the money on three things:

• Expanding its engineering team
• Investing in a precision manufacturing facility and rapid prototyping infrastructure
• Adopting AI to improve B2B sourcing, supplier intelligence and operational efficiency

Abhinav Singh Negi, Lead – Climate and Deeptech at Rainmatter by Zerodha, said the fund kept hearing the same execution problem from portfolio companies: hardware startups struggle to find partners who can manage the transition from validation to production. He added: "Venttup is uniquely positioned to fulfill this demand by acting as a dependable operational bridge. Their approach of combining an in-house precision facility in Bengaluru with a vast, quality-checked network of local MSMEs provides immense value to the ecosystem."

Bhaskar Majumdar, Managing Partner at Unicorn India Ventures, said his firm has backed Venttup since the seed round. He predicted precision manufacturing will grow explosively as the deep tech ecosystem matures, whether the use case is defence or space.

Where does Viridian Ingni Propulsion fit?

Viridian Ingni Propulsion, a Chennai-based deeptech propulsion company, raised INR 1.47 crore in a pre-seed round led by Inflection Point Ventures. It also received INR 53.75 lakh in grants from SIPCOT (Tamil Nadu Government), MEITY Startup Hub, NIDHI PRAYAS under the Department of Science and Technology and Ministry of Heavy Industries, the IIT Madras Research Park's RTBI programme, and Cummins CSR.

The capital will move the company from validated prototypes into pilot production.

Mitesh Shah, Co-founder of IPV, said Viridian Ingni builds its entire technology stack in-house — motors, controllers and firmware — and adapts motor technology across applications, from e-rickshaws to drones.

Sriram G, Founder and CEO, said: "India designs very few of its own propulsion systems, and almost none end-to-end." He said the round takes the company into pilot production, certification and first customer deliveries. "The goal is to make Indian-designed propulsion the default choice for EV, drone and industrial OEMs, not the fallback."

Why is CureBay's INR 100 crore round the biggest?

CureBay, described as an Indian rural healthcare operating system, raised roughly INR 100 crore in a Pre-Series C round led by IvyCap Ventures. The round splits two ways: INR 69 crore in equity led by IvyCap along with existing investors, and over INR 30 crore in debt from Trifecta Capital, Alteria Capital and VentureSoul Partners.

Founder and CEO Priyadarshi Mohapatra said: "Rural Bharat doesn't need another app; it needs a system that works end to end, from the Swasthya Mitra at the doorstep to the specialist in the city." He said the capital will take the system to more states and let its AI "do the heavy lifting."

Vikram Gupta, Founder and Managing Partner of IvyCap Ventures, said CureBay's combination of technology with a strong on-ground healthcare network makes the model compelling.

What is The Stack building with INR 21.5 crore?

The Stack, a supplements brand focused on clinically studied ingredients, raised INR 21.5 crore in a round co-led by Sauce, OTP Ventures and Huddle Ventures.

Manu Chandra, founder at Sauce, said the supplements market in India is exploding with brands and information overload, and that The Stack's promise of minimal ingredients, quality and transparency attracted the investment.

Co-founder Kshitij Rihal said: "A lot of building The Stack has been saying no. No to launching fifty products, no to trending ingredients we don't believe in, no to upselling people things they don't need." He said the company would rather have five products customers return to than fifty they try once.

Ishaan Khosla, Partner at Huddle Ventures, said the brand's industry-leading repeat rates prove its discipline on formulation, and the firm will double down as The Stack expands across channels.

How does RocketPay plan to use INR 10 crore?

RocketPay, a digital collections infrastructure platform, raised INR 10 crore led by Sandeep Jain and Group. Jain co-founded Tradeswift and appears on Zee Business's "Jain Saab ke GEMS" segment. IPV, LetsVenture, Launch Capital, AVNM Ventures and Navyug Global Ventures also joined, alongside existing investor All In Capital.

Co-founder and CEO Rishav Dokania said the round marks a transition from technology that helps lenders collect more efficiently to infrastructure supporting the entire recovery lifecycle of financed assets.

Sandeep Jain said RocketPay sits at the intersection of two shifts in lending: digitised collections and technology-enabled recovery for financed devices. He added that the new RBI framework creates an opening to build an infrastructure layer for the growing device-financing market.

The spread of these five rounds — from a $3 million precision manufacturer to a INR 1.47 crore propulsion startup — shows investors backing hardware and infrastructure plays alongside the usual consumer and healthtech bets.