From Boldfit To Origin — Indian Startups Raised About $236 Mn This Week

Startup funding continued to pick up pace in the second week of October. Overall, Indian new-age tech ventures raised $236.2 Mn across 25 deals between October 12 and October 16. This was 92.2% higher from the previous week, when 25 startups raised $122.9 Mn. 

Funding Galore: Indian Startup Funding Of The Week [Oct 12 – 16]

Key Startup Funding Highlights Of The Week

• AI dominated the funding charts this week, attracting $53.4 Mn across six deals. RapidCanvas’ $29 Mn Series B round accounted for 54.3% of the total capital deployed in the segment.
• Ecommerce emerged as the second-most funded sector and lapped up $48.3 Mn, followed by travel tech at $34.6 Mn and enterprise services at $31.8 Mn. Advanced hardware and technology also attracted $23.2 Mn.
• Early-stage funding continued to gather steam as pre-seed and seed-stage startups raised $25.9 Mn across 11 disclosed deals this week.
• Accel emerged as the most active investor of the week, backing four startups. Other backers such as Hitachi Ventures, 3one4Capital and Inflection Point Ventures also participated in multiple rounds this week. 

Startup M&A Updates Of The Week

• IT advisory firm Infotech acquired Bengaluru-based SaaS startup Zluri to strengthen its application discovery and identity governance capabilities. The terms of the deal were not disclosed. 
• Nasdaq-listed SaaS major Freshworks signed a definitive agreement to acquire SaaS management platform Torii for an undisclosed amount to expand into AI spend management. The deal is expected to close by Q3 FY26.

Startup IPO Updates Of The Week

• Zetwerk’s public issue was subscribed 31% at the end of the second day of bidding. The B2B manufacturing startup’s IPO comprises a fresh issue of shares worth ₹2,830 Cr and an OFS component of up to 14.45 Cr shares.
• Investors made a beeline for Tonbo Imaging’s ₹852 Cr IPO. The issue was subscribed 7.78X on the second day of bidding, receiving bids for 6.63 Cr shares as against 85.26 Lakh shares on offer. It is scheduled to list on the bourses on October 23.

Other Developments Of The Week

• Bengaluru-based manufacturing Whizzo is in talks to raise around $26 Mn in a Series B round, which will likely be co-led by Aavishkaar Capital and Bertelsmann Investments.
• Haircare startup Traya is also in talks to raise around ₹300 Cr from Verlinvest. The round, which will likely include both primary and secondary deals, could potentially value the startup between ₹2,500 Cr and ₹3,000 Cr.

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