Indian Startups Raised $258 Million This Week, More Than Double Prior Week

Twenty-eight Indian startups raised $258.1 million between November 2 and November 7, more than double the roughly $115 million that 28 startups secured in the previous week, according to Entrackr's weekly funding tracker. The week delivered three growth-stage deals, 17 early-stage deals (two undisclosed), nine key appointments, one departure, two fund launches, an ESOP buyback and one acquisition.

Where did the growth money go?

Growth-stage startups pulled in $190.5 million across three deals. Jewellery brand GIVA led with a $100 million round led by Multiples Alternate Asset Management. Bengaluru consumer AI and entertainment company EloElo Group followed with an $80 million Series C led by Hornbill Capital and NBCUniversal. Pune robotics startup Peppermint Robotics raised Rs 100 crore (about $10.5 million) in a Pre-Series B led by pi Ventures and Crane Venture Partners.

Early-stage companies collected $67.6 million across 17 deals. Pune health-tech firm Clinics On Cloud topped the list with a $12.5 million Series A from Dubai-based investors through Model42, powered by Enlightened Minds Investments. Specialty chemicals startup altM raised $10.3 million in a Series A led by Rainmatter by Zerodha and Mela Ventures.

AI-powered clean energy platform Two Point O Capital (TW.O) secured $10 million led by Transition Venture Capital. Wealthtech platform PowerUp Money raised $10 million led by Flourish Ventures, with Peak XV Partners, Accel and Blume Ventures participating. Spacetech startup Cosmoserve Space, defence technology firm Axial Aero, autonomous delivery robot developer Ottonomy, biotech company Venomics AI and QSR startup The Croffle Guys also raised funding.

How did deals split by city and sector?

Bengaluru led with six deals, followed by Delhi-NCR and Mumbai with five each. Pune, Hyderabad and Gandhinagar also recorded funding. E-commerce and AI startups led sector activity with three deals each; healthtech, manufacturing, fintech, foodtech and gaming logged two apiece. Seed rounds dominated with eight deals, followed by Series A (four) and pre-seed (three). Average weekly funding over the past eight weeks stood near $198 million across 23 deals.

Who moved, who left?

Porter appointed Gaurav Jain as CFO and elevated Shubham Gupta to CTO and Mohit Rathi to CMO. MathCo added Vijay Raj to its advisory board. Avendus named Sumit Agarwal managing director and head of equity corporate finance. Fulcrum Digital appointed Latha Nathan SVP of India delivery operations, and UiPath named Yashdeep Vaishnav India country manager. Fireside Ventures co-founder Vinay Singh will exit after nearly a decade to explore agentic commerce.

Daksham Growth Ventures raised Rs 125 crore in the first close of its maiden consumer-focused DGV Fund I. ValueQuest Tristar Fund, which backs advanced manufacturing across aerospace, defence, precision engineering and energy transition, secured over Rs 2,100 crore in commitments within 15 months of its first close, surpassing its target and full greenshoe.

What happened in M&A and buybacks?

Provision Labs, the physical AI venture of Pronto founder Anjali Sardana, acquired Mumbai hardware startup Basilisk Industries for an undisclosed sum. Basilisk founder Shourya Watwani will lead Provision's hardware efforts and develop in-house post-processing models.

Leverage Edu launched its third ESOP buyback and granted options to 100 more employees, lifting equity-holding staff to 23% of its workforce. Prior buybacks ran in June 2022 and June 2024.

Which launches and deals stood out?

• Cashfree launched Checkout for Agents, the first Indian payments integration of the WebMCP standard, letting AI agents complete transactions across hosted checkout, payment forms and payment links, and potentially cutting token consumption during checkout by over 40%.
• super.money launched 24-karat digital gold sourced via SafeGold ahead of Dhanteras, with 3% assured cashback capped at Rs 9,000 per user monthly and a Rs 50,000 purchase limit.
• InMobi signed a 30-year, Rs 65 crore (excluding GST) naming-rights deal with BMRCL; Ibbaluru Metro Station becomes InMobi Ibbaluru Metro Station.
• Procol will launch Clara 2.0, a multi-agent source-to-pay platform with two-way ERP synchronisation, at the Gartner IT Symposium in Kochi; it has cut procurement cycle times by up to 80% across Procol's customer base.

Scripbox approved conversion into a public limited company, renamed Scripbox Wealth Managers Limited, ahead of an IPO comprising a fresh issue and an offer for sale. Razorpay received SEBI approval for its IPO after confidentially filing its DRHP in June 2026; it targets Rs 5,500-6,500 crore at a $5 billion valuation and expects to file final papers before March 2027.

On the macro side, TVS Motor retained India's EV two-wheeler lead with 60,429 October registrations and a 27% share, per Vahan data, while Ola Electric fell 10.12% to 12,096 units. UPI processed a record 25.47 billion transactions worth Rs 31.53 lakh crore in October, NPCI data shows. Angel One overtook Zerodha as India's second-largest broker, adding nearly 2.43 lakh active clients, while Groww held the top spot with over 1.37 crore.