Weekly deal volume dropped 87% from the previous week’s $1.1 billion, even as Limelight Diamonds, Kapture CX and 23 other startups closed rounds
The total amount raised by 25 startups from the Indian early-stage and growth-stage markets was about $137 million through 24 deals (5 of which were growth-stage). Among the fundings in the Growth Stage, Limelight Diamonds ($137 million) led the way with their round of 275 crore ($39.68 million). Incuspaze, which provides provided managed workspace solutions, was next with a round of 150 crores ($21.09 million) while Kapture CX raised the least amount of money at $10 million – an agentic AI platform (Kapture CX raised $10 million) – but also received the additional benefit of a partnership with their investor.
Early-Stage Activity Stays Strong
There has been a continued good pipeline of early-stage funding with 19 early-stage companies receiving a combined total of $68.92 million from investors. The largest round was for The Indus Valley’s cookware brand ($17 million) and was led by Gaja Capital. BatX Energies, a battery recycling startup, $105 million from Dovetail Capital, and $100 million from Data Science Wizards all raised the remaining amounts.
Bengaluru Leads, AI and E-commerce Dominate
Bengaluru has once again topped the list of top cities with 12 funding deals, with Mumbai and Delhi-NCR coming in second and third respectively. AI and E-commerce both had 6 deals and continue to lead by sector; Fintech was third with 4 deals.
Acquisitions and Fund Launches
In total there were four M&A transactions announced during the week, the largest of which was Ananta Capital’s purchase of a majority ownership stake (approximately 100 crore) in Phitku (formerly known as PhOTI) and Crib App’s acquisition of CirclePe (a company focused on rent financing). In addition to this activity, Sparrow Capital closed its third fund ($475 crore), and 100×100 climate-focused venture capital opened its second fund ($100 million) focused on India and Southeast Asia.
