INDIAN STARTUPS FUNDING
India’s startup engine: Can we build a $30 trillion economy on innovation?
India is rapidly emerging as a global startup leader, particularly in fintech, driven by the JAM trinity and DPI. To become the top startup nation, India needs to prioritize deeptech and cleantech innovation, mobilize domestic investment, and strengthen academia-industry collaboration. Attracting global talent and fostering ethical growth are crucial for achieving a $30+ trillion economy by 2047.
ETtech Deals Digest: Indian startups raise $160 million this week, up 75% on-year
Despite the higher value, the number of deals during the week was down at 16 transactions, compared to 34 in the corresponding week last year.
Ola's Krutrim upgrades Kruti to agentic AI assistant from chatbot
Ola-owned Krutrim has unveiled Kruti, an indigenous agentic AI assistant designed to enhance user agency. This development comes on the heels of mixed reviews regarding Krutrim's previous products.
Ethnicwear brand Kisah Apparels raises Rs 13 crore from Wow Momo founder, others
Men's ethnicwear brand Kisah Apparels has successfully raised Rs 13 crore in its latest funding round, led by Sagar Daryani of Wow Momo. With this fresh capital, the brand is set to enhance its physical retail footprint and direct-to-consumer initiatives.
Eye on IPO shores, companies set sail for Cayman
The Cayman Islands are emerging as a preferred destination for Indian software startups chasing global markets, offering greater flexibility in raising capital, whether from India or abroad. The self-governing British Overseas Territory is a “region of interest” for software-as-a-service (SaaS) companies scaling up their international ambitions.
Made in India, Made for India: The new AI model supports 22 regional languages and emphasizes inclusivity, ethics and cultural relevance.
Dr. Jitendra Singh launched BharatGen, India's first indigenous, government-funded multimodal LLM, at the BharatGen Summit in New Delhi. Developed under NMICPS and steered by IIT Bombay, it supports 22 Indian languages, aiming to transform healthcare, education, agriculture, and governance. The initiative promotes ethical, inclusive AI, aligning with PM Modi's vision for 'India's Techade' and fostering innovation for inclusion.
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Digital payment firms face RBI scrutiny; Pine Labs, Meesho eye listings
Happy Thursday! After approving about 54 companies to become payment aggregators, the central bank is tightening its reins in the sector. This and more in today’s ETtech Morning Dispatch.
India’s probiotics market doubles in 5 years, hits Rs 2,070 cr in 2025
India’s probiotics market recorded 22% annual growth in May, nearly doubling in five years from ₹1,016 crore in 2021 to ₹2,070 crore in 2025, according to PharmaTrac. Growth is led by pharma firms like Sun Pharma and Zydus, with older brands dominating.
India’s new warfare: Drones, data, and the defence race that can't wait
India’s battlefield is evolving from boots on the ground to code in the cloud. As drone swarms, cyber weapons, and AI take centre stage, New Delhi is rewriting its defence playbook. Through cutting-edge homegrown innovation, resilient startups, and a push from “Make in India” to “Create in India,” India is preparing for wars that are silent, swift, and sky-bound. This deep dive explores how India is building its future security one drone, one algorithm, and one idea at a time.
Qcomm cos on govt radar; Tata upskills in Taiwan
Happy Wednesday! The government may step up surveillance on quick commerce dark stores over rising hygiene concerns. This and more in today’s ETtech Morning Dispatch.
Wealthtech startup PowerUp Money raises $7 million from Accel, Blume, others
The fresh funds will be used for strengthening the research vertical, building more products to cater to consumer requirements, and scaling up customer acquisition. The startup, which was built within Uni Cards, has now been hived off completely into a separate entity.
Garuda Aerospace raises $1 million from Narotam Sekhsaria Family Office, others
The drone startup, which is backed by former Indian cricket team captain Mahendra Singh Dhoni, will use the funds for scaling up production capacity from 8,000 drones per annum now to between 12,000 and 15,000 units. The funds will also help boost R&D efforts and expand its export presence to 50 countries by the year-end.
Zerodha's Nithin Kamath hails SCRA rule clarification for stock brokers, "huge" for Rainmatter. Here's why
Nithin Kamath praised the Finance Ministry and NSE for clarifying SCRA rules, allowing brokers to invest their own funds freely. This regulatory shift will empower Zerodha’s Rainmatter to allocate more capital directly to Indian startups without prior approvals.
Fire sale at Byju’s; Meesho’s pre-IPO move
Troubled edtech startup Byju’s is selling its US assets at steep losses, mandated by a US bankruptcy court. This and more in today’s ETtech Top 5.
Rapido’s fresh funding; Starlink’s gotcha moment
Rapido has bagged fresh capital from an investor ahead of its food delivery rollout. This and more in today’s ETtech Top 5.
China's rare earth curbs a 'wake-up call' as India builds alternative supply chains: Piyush Goyal
Piyush Goyal addressed China's rare earth export restrictions as a global wake-up call, highlighting India's efforts to build alternative supply chains. He acknowledged short-term challenges for the automotive and white goods sectors but expressed confidence in overcoming them through collaboration and innovation. India aims to become a trusted partner for businesses seeking to reduce dependence on Chinese suppliers.
India looking for other magnet sources after China's curbs on rare earth metals
India is negotiating with China to secure supplies of permanent magnets made from rare earth minerals, crucial for manufacturing cars, electric vehicles, and renewable energy equipment, said Commerce and Industry Minister Piyush Goyal. China controls 90% of these supplies and recently imposed export restrictions requiring special licenses and assurances that the magnets won’t be used by the US or defense sectors.
Krutrim announces agentic AI assistant 'Kruti', to launch on June 12
This is a key announcement for the company, as ET had reported earlier this month that its other products are not seeing much traction. Founders and developers ET had spoken to saw Krutrim's large language models (LLMs) and cloud offerings as subpar and lacking technical maturity compared to hyperscalers.
Sanlayan raises Rs186 crore from investors including Ashish Kacholia, Lashit Sanghvi and Jungle Ventures
Sanlayan Technologies, an aerospace and defence firm, secured Rs 186 crore in Series A funding. Ashish Kacholia, Lashit Sanghvi, and Jungle Ventures led the investment. The company will use the funds to enhance its defence capabilities. Sanlayan focuses on acquiring defence MSMEs and developing in-house technologies. They aim to contribute to India's national security.
Mohandas Pai flags lack of domestic capital for Indian startups, calls for policy overhaul
Pai pointed out that, unlike the US, where insurance companies and university endowments are major sources of startup funding, Indian endowments are prohibited from investing in startups by government policy, and insurance companies remain largely absent due to incomplete regulatory reforms.
Intern to CEO overnight? Bengaluru youth’s ‘AI startup got funded’ exit sparks LinkedIn buzz on ambition and arrogance
A Bengaluru intern’s abrupt WhatsApp message quitting an internship after securing AI startup funding has gone viral. Shared by a tech founder on LinkedIn, the screenshot sparked widespread debate on startup ambition, the AI buzzword boom, and career unpredictability—highlighting how quickly interns can transform into founders in India’s thriving startup ecosystem.
Too ‘founder-y’ to hire, not corporate enough to fit in: Former startup owner’s candid job hunt post strikes a chord on Reddit
After bootstrapping a healthy F&B startup, an Indian entrepreneur is now grappling with the job hunt. His Reddit post uncovers the emotional toll and professional challenges of transitioning from founder to employee, with netizens resonating deeply. As AI reshapes work, his experience sparks a conversation on how skills—not degrees or titles—should define employability in today’s economy.
Top tech and startup stories this week
Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.
ETtech Deals Digest: Startups raise $142.7 million this week, up 8.5% on-year
Startups across seed, early and late stages raised the funds through 14 deals, compared to 64 in the year-ago period. Top deals across the week included Syfe, Udaan, Pepperfry and Stable Money.
Longevity startup Biopeak raises $3 million from Ranjan Pai's Claypond Capital, Accel’s Prashanth Prakash, others
The company has launched its first longevity clinic in Bengaluru and plans to expand to other metros within a year. Biopeak offers a personalised preventive healthcare service, combining diagnostics, AI, and concierge-style care to predict health risks and craft tailored intervention plans.
Fintech startup Decentro raises Rs 30 crore, will shift domicile to India
Decentro, a fintech startup, secured Rs 30 crore in funding led by InfoEdge Ventures. The company intends to move its base from Singapore to India. This move aligns with other Indian startups returning home. Decentro aims to enhance its products and expand its enterprise adoption. They offer APIs for KYC, payments, and debt collection.
Portfolio valued at 5X of invested capital; ranks among top VC funds globally, says Artha Venture Fund
This approach, combined with capital efficiency and governance, attracts global LPs seeking sustainable value creation in India's maturing startup ecosystem.
Early-stage VC Inflexor eyes Q2 first close of $150-million Fund-III
Early-stage venture fund Inflexor Ventures expects to announce the first close of its $150 million (Rs 1,250 crore) Fund III by the end of the second quarter, partner Murali Krishna Gunturu told ET. Alongside its core interest areas, such as artificial intelligence (AI), the new fund will also invest in companies developing healthcare devices and advanced materials, including those used in electric vehicle (EV) batteries.
HSBC plans venture debt fund for Indian startups
HSBC is considering launching a venture debt fund in India, potentially becoming the first commercial bank to do so. This move would expand HSBC's startup financing business, initiated three years ago with a $600 million allocation. The fund's specifics are still under development, with hopes of launching within six months, pending regulatory approval.
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