From PharmEasy To Curefoods — Indian Startups Raised $377 Mn This Week
Indian startup funding continued to pick up pace for the second consecutive week at the end of September. Twenty eight startups cumulatively raised $377.4 Mn during September 22-27, making it the highest weekly capital infusion in the Indian startup since June.
On a weekly basis, this marked an over 19% jump from the $316.6 Mn raised by startups during September 15-20. The investor interest in the Indian startup ecosystem is expected to continue to rise in the near future, with multiple VC firms announcing closure of their funds this week.
Funding Galore: Indian Startup Funding Of The Week [ Sep 22 – 27 ]
| Date | Name | Sector | Subsector | Business Model | Funding Round Size | Funding Round Type | Investors | Lead Investor |
| 24 Sep 2025 | PharmEasy | Health Tech | Online Pharmacy | B2C | $191.7 Mn | Debt | – | – |
| 24 Sep 2025 | Emergent | AI | Application Layer | B2C, B2B | $23 Mn | Series A | Lightspeed, Y Combinator, Together Fund, Prosus, Jeff Dean (Google’s chief scientist), Devendra Chaplot (AI researcher), Balaji Srinivasan (cofounder, Coinbase) | Lightspeed Ventures |
| 22 Sep 2025 | Chakr Innovation | Clean Tech | Climate Tech | B2B | $23 Mn | Series C | Iron Pillar | Iron Pillar |
| 26 Sep 2025 | Curefoods | Foodtech | Cloud Kitchen | B2C | $18 Mn | – | 3State Ventures | 3State Ventures |
| 25 Sep 2025 | Handpickd | Consumer Services | Hyperlocal Services | B2C | $15 Mn | Series A | Bertelsmann India Investments, Titan Capital | Bertelsmann India Investments |
| 23 Sep 2025 | Rocket | AI | Application Layer | B2B | $15 Mn | Seed | Salesforce Ventures, Accel, Together Fund | Salesforce Ventures, Accel |
| 26 Sep 2025 | Vedantu | Edtech | Digital Learning Platform | B2C | $11 Mn | – | – | – |
| 25 Sep 2025 | Simple Energy | Clean Tech | Electric Vehicles | B2C | $10 Mn | – | Dr Arokiaswamy Velumani (founder, Thyrocare) | Dr Arokiaswamy Velumani (founder, Thyrocare) |
| 26 Sep 2025 | KisanKonnect | Agritech | Market Linkage | B2B-B2C | $8.1 Mn | Pre-Series A | Bajaj Finserv Group, Mistry Ventures, Desai Foods, Dhanuka Agritech, Action Tessa Family Office | Bajaj Finserv Group |
| 23 Sep 2025 | Distil | Ecommerce | Marketplace | B2B | $7.7 Mn | Series A | Jungle Ventures, CE-Ventures, Rubamin, IndiaQuotient, Mayank Singhal (vice chairperson, PI Industries) | Jungle Ventures, CE-Ventures |
| 24 Sep 2025 | Gullak | Fintech | Investment Tech | B2C | $7.5 Mn | Series A | Chiratae Ventures, White Venture Capital, Samved Ventures, Y Combinator, GMO Venture Partners, Rebel Funds | Chiratae Ventures |
| 24 Sep 2025 | Oolka | Fintech | Lendingtech | B2C | $7 Mn | Seed | Lightspeed, Z47, 8i Ventures, Vidit Aatrey (cofounder, Meesho), Sanjeev Barnwal (cofounder, Meesho), Ramakant Sharma (cofounder, Livspace), Abhishek Goyal (cofounder, Tracxn), Rajesh Yabaji (cofounder, BlackBuck), Nitin Gupta (cofounder, Uni Cards), Madhusudan R (cofounder, M2P Fintech), Anil Goteti (founder, Scapia), Arnav Kumar (cofounder, Leap) | Lightspeed India, Z47 |
| 23 Sep 2025 | PRISM | Travel Tech | Hospitality | B2C | $5.6 Mn | – | InCred, Analah Capital | InCred, Analah Capital |
| 22 Sep 2025 | OnFinance | AI | Application Layer | B2B | $4.2 Mn | Pre-Series A | Peak XV (Surge), Groww Founder Fund, MarsShot VC, Climber Capital, Shyamal Hitesh Anadkat (head of Applied AI, OpenAI), Indian Angel Network, Silverneedle Ventures | Peak XV (Surge) |
| 23 Sep 2025 | Amwoodo | Ecommerce | D2C | B2C | $4 Mn | Pre-Series A | Rainmatter, Adventz Group, Thinkuvate, Caspian | Rainmatter |
| 25 Sep 2025 | Cosmoserve Space | Advanced Hardware & Technology | Space Tech | B2B | $3.2 Mn | Pre-Seed | AVCF, AUM Ventures, Shakti VC, Ram Shriram (Google’s early angel investor) | AVCF |
| 24 Sep 2025 | P-TAL | Ecommerce | D2C | B2C | $3 Mn | Series A | Venture Catalysts, Rainmatter, Connecticut Innovations, Zero Pearl, Anicut Capital, Jaipur Rugs Family Office, Ramakant Sharma (cofounder, Livspace), Sanjay Kapoor (founder, Genesis Luxury), Avnish Anand (consumer investor, Singularity AMC), Sibabrata Das (cofounder, Atomberg), Ritesh Malik (founder, Innov8) | Venture Catalysts, Rainmatter |
| 24 Sep 2025 | Xbattery | Clean Tech | Electric Vehicles | B2B | $2.3 Mn | Seed | Bipin Patel Family Office, Jhaveri Credits | Bipin Patel Family Office |
| 23 Sep 2025 | Grest | Ecommerce | Recommerce | B2C | $1.8 Mn | – | Equentis, The Chennai Angels, Lead Invest, India Accelerator | Equentis |
| 22 Sep 2025 | VyomIC | Advanced Hardware & Technology | Space Tech | B2B | $1.6 Mn | Pre-Seed | Speciale Invest, BYT Capital, DeVC | Speciale Invest |
| 26 Sep 2025 | Akashalabdhi | Advanced Hardware & Technology | Space Tech | B2B | $1.2 Mn | Pre-Seed | LVX, 1Crowd, Riceberg Ventures, Aeroflex Enterprises, Uday Chatterjee (angel investor), Romesh Sobti (angel investor), Suraj Nalin (angel investor) | – |
| 24 Sep 2025 | Navo | Ecommerce | Vertical Marketplace | B2B | $902K | Seed | IndiaQuotient, Antler, Bharat Founders Fund | IndiaQuotient |
| 25 Sep 2025 | Bharat Intelligence | Agritech | Farmtech | B2B | $790K | Pre-Seed | Sahyadri Farms | Sahyadri Farms |
| 25 Sep 2025 | Recove | Clean Tech | Climate Tech | B2B | $598K | – | Momentum Capital, Ganesh Natarajan (ex-CEO, Aptech & Zensar), Ashish Goel (cofounder, Urban Ladder) | Momentum Capital |
| 23 Sep 2025 | Paar Autonomy | Advanced Hardware & Technology | Robotics | B2B | $500K | Seed | Venture Catalysts | Venture Catalysts |
| 25 Sep 2025 | Samaaro | Enterprise Tech | Vertical SaaS | B2C | $500K | Pre-Series A | Inflection Point Ventures, Silver Needle Ventures, Lets Venture, SucSEED Indovation Fund | Inflection Point Ventures |
| 26 Sep 2025 | Gaadimech | Consumer Services | Hyperlocal Services | B2C | $169K | – | AJVC | AJVC |
| 23 Sep 2025 | Gabit | Ecommerce | D2C | B2C | – | – | Ranbir Kapoor (Actor), Badshah (Musician) | – |
| Source: Inc42 Note: Only disclosed funding rounds have been included |
- Online pharmacy startup PharmEasy raised a debt of $191.7 Mn (INR 1,700 Cr) this week by pledging shares of its listed subsidiary Thyrocare to repay existing obligations.
- While PharmEasy’s debt raise propelled healthtech to the top spot in sector-wise weekly capital inflows, AI saw the second highest weekly funding. Three AI startups – Emergent, Rocket and OnFinance – together raised $42.2 Mn.
- The ecommerce sector saw the highest number of deals materialise this week, with six startups, including Distil, Amwoodo, among others, raising $17.4 Mn.
- IndiaQuotient, Rainmatter and Lightspeed were the most active investors this week.
- Seed funding surged to $32.5 Mn with nine deals materialising this week, an increase of 40% from $23.3 Mn raised by 10 startups last week.
- Micro VC firm Zeropearl VC closed its maiden fund at around $18 Mn. It plans to invest in 45 early-stage startups across several sectors.
- Good Capital closed its second fund at $30 Mn. With the fund, the firm would look to invest $1.5 Mn each in 30-35 startups over the next four years.
- Chiratae Ventures marked the second close of its fifth fundat $150 Mn to back early-stage startups in AI, deeptech, healthtech and spacetech sectors.
- Early-stage accelerator 888VC launched its maiden $19 Mn AIF to back early-stage startups operating in sectors like AI, deeptech and sustainability. It plans to invest in startups from these sectors over the next three years, with an average ticket size between INR 2 Cr to INR 4 Cr.
- Fintech major PhonePe pre-filed its DRHP with the SEBI this week. While details are scant, the company’s IPO is likely to solely comprise an offer for sale of up to $1.4 Bn.
- Pernia’s Pop-Up Shop parent Purple Style Labs filed its DRHP for its IPO that will solely comprise a fresh issue of up to $75 Mn (INR 660 Cr).
- Contract manufacturing company Aequs received SEBI’s nod for its confidential IPO papers this week. It is planning to raise up to $200 Mn (around INR 1,700 Cr) through its IPO.
- Zapppfresh’s BSE SME IPO opened on Friday to a lukewarm 21% subscription. The public issue comprises a fresh issue of up to 55.8 Lakh shares. At the upper end of the price band of INR 96 to 101, it expects to raise INR 59.6 Cr via the IPO.
- Furniture rental startup RentoMojo hasbegun preparations for its public listing, onboarding IIFL and Motilal Oswal as the book running lead managers for its IPO. The company is targeting a public listing by FY27.
- Swiggy’s board approved the sale of its stake in bike-taxi startup Rapido to the latter’s existing investors Westbridge and Prosus for about INR 2,400 Cr ($270.4 Mn).
- Including Swiggy’s secondary sale, Rapido is looking to close its latest funding round at $500 Mn to $550 Mn. The primary component of the deal would be of $300 Mn, with Prosus looking to pump in $240 Mn to $250 Mn.
- Peak XV Partners launched the 11th cohort of Surge, its accelerator and incubation programme. Twelve of the 23 startups in this cohort are based out of India. Under Surge, Peak XV invests $3 Mn seed capital in selected startups along with other incubation support.
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