This week, 18 Indian startups raised nearly $70.4 million across 3 growth-stage and 15 early-stage deals. The week also witnessed six acquisitions, three key leadership appointments, two departures, three fund launches, and 2 shutdowns.

In contrast, 25 startups had collectively secured about $137 million in the previous week.

[Growth-stage deals]

Growth-stage startups raised a total of $30.7 million across three deals this week, led by edtech platform Elevate Education, which secured $17.7 million in its Series D round led by WestBridge Capital.

Physical AI startup HakimoIncuspaze raised $12 million in a growth round from Bharat Value Fund, while workspace provider Stylework secured $1 million in a pre-Series B round led by Auxano Capital.

[Early-stage deals]

Early-stage startups raised $39.75 million across 15 deals this week, led by e-commerce brand Aukera, which secured $10 million in a funding round led by Alteria Capital with participation from InnoVent Capital and Lighthouse Canton.

Among the other notable deals, e-commerce startup WizCommerce raised Rs 8.3 million in a Series A round led by Blume Ventures and others. Packaging firm Econovus Packaging secured $4 million in a pre-Series A round led by Rainmatter, while events tech startup thumpN raised $3.75 million in a pre-seed round from actors and singers.

[City and segment-wise deals]

Bengaluru continued to lead the funding charts with 10 startup deals during the week, followed by Pune Delhi-NCR with three deals each. Mumbai and Udaipur bagged a deal each.

Segment-wise, AI startups led the week with five deals followed by e-commerce with 3 deals. EV recorded two deals meanwhile, proptech, packaging, healthtech, and others also recorded funding activity during the period.

[Series-wise deals]

pre-seed rounds led the week with six deals, followed by four Seed deals and. pre-Series A, Series B, pre-Series B, and Series D rounds also witnessed activity during the week.

[Week-on-week funding trend]

On a weekly basis, startup funding declined 95% to $70.45 million, compared to around $137 million raised during the previous week.

The average funding over the last eight weeks stands at around $325 million, with an average of 20 deals per week.

[Key hirings]

Bengaluru-based Arkam Ventures has elevated Vishnuhari Pareek as CFO. Pocket FM has appointed Abhilash Padival as CFO, while PhonePe has named Srijon Biswas as its CTO.

[Mergers & Acquisitions]

The week also witnessed six acquisitions. Edtech firm upGrad acquired Unacademy. HR platform AscentHR acquired OS HRS, while WTF has acquired creative agency BTG. Meanwhile, ekincare has acquired Superclaims.

[Fund Launches]

Early-stage, sector-agnostic venture capital firm Fundamentum announced the fund at $220 million. Next Bharat Ventures has launched a fund worth $200 million and B Capital has launched a major $500 million fund. 

[Shutdown]

Quick fashion delivery startup Klydo has paused its consumer business and is pivoting to a new product direction, less than a year after its launch. Koo co-founder Mayank Bidawatka has decided to shut down his latest startup, PicSee, less than a year after launching it.

[New launches and partnerships]

▪️ Flipkart expands zero commission to boost fashion sellers 

▪️ Axis Max Life partners with GreyLabs’ voice AI Suite to drive ~15% improvement in sales conversions

▪️ Bharat Stars Services partners with Netradyne to enhance safety in aviation fuelling operations

[News flash this week]

▪️ Groww remains on top as Sahi enters top 20 stock brokers in June

▪️ Masters' Union offers free Makers Lab access to women hardware founders

▪️ Swiggy's IOCC transition may take longer, JM Financial retains 'Reduce' rating

▪️ CCI approves upGrad's acquisition of Unacademy

▪️ For sale: Your salary info, address, and phone number — How Info Edge's Naukri is monetising the trust of millions

▪️ Nazara gets NCLT approval to withdraw Paper Boat Apps merger

▪️ Cult.fit files DRHP with SEBI, plans Rs 950 Cr fresh issue and 17.86 Cr share OFS

▪️ Rentomojo gets SEBI nod for IPO with Rs 150 Cr fresh issue

[Summary]

On a weekly basis, startup funding declined 87% to $137 million, compared to around $1.1  billion raised during the previous week.

Flipkart has expanded its Zero Commission policy to cover all fashion products across price points, up from the earlier limit of products priced up to Rs 1,000. The move benefits around 90,000 transacting fashion sellers, including MSMEs and D2C brands, by allowing them to retain higher margins while leveraging AI-powered demand insights, trend data, and catalogue management tools to grow their businesses.

The active client base of India’s top stock brokers declined further in June, with the industry shedding around 1.37 lakh clients month-on-month. Total active clients fell to 4.54 crore from 4.55 crore in May. Groww continued to dominate the rankings with a 28.72% market share, while Sahi, led by former Swiggy CTO  Dale Vaz, entered the top 20 brokers after recording the largest net client gain during the month.

Cult.fit has filed its DRHP with SEBI for an IPO comprising a fresh issue of up to Rs 950 crore and an OFS of up to 17.86 crore shares. Temasek-backed MacRitchie Investments will be the largest seller, followed by Fitness First Luxembourg, Tata Digital, IDG Ventures India, Chiratae, Accel, Kalaari, Schroders Capital, and co-founder Mukesh Bansal.

Axis Max Life Insurance has deployed GreyLabs AI's Voice AI Suite to analyze 100% of meaningful sales calls, helping improve sales conversions by nearly 15%. The company found that the first 90–120 seconds of a customer conversation are a stronger predictor of conversions than demographic data. Its digital business has grown 10x over the past five years, with digital channels now contributing 15% of APE.

Masters' Union has announced free weekend access to its Makers Lab for women building hardware ventures. The facility features 3D printers, robotics workstations, IoT sensors, drone testing zones, laser cutters, fabrication tools, and design infrastructure, enabling founders to prototype, test, and refine early-stage products.

Netradyne has partnered with Bharat Stars Services (BSSPL), a joint venture between BPCL and ST Airport Services, to deploy its AI-powered Driver•i platform across aviation fuelling fleets at the Delhi, Mumbai, and Bengaluru airports. The deployment aims to enhance safety in airport fuel operations, where vehicles operate close to aircraft, equipment, and personnel under stringent operating conditions.

JM Financial has maintained its 'Reduce' rating on Swiggy with a Rs 250 target price, saying the company's transition to an Indian-Owned-and-Controlled Company (IOCC) could take longer despite foreign shareholding falling below 50% for the first time. The brokerage said Swiggy must also complete governance changes to demonstrate that ownership and control rest with resident Indian citizens or entities.