Funding momentum across the Indian startup ecosystem continued to remain stable this week amid heightened geopolitical uncertainties shaking up global markets. Twenty one startups raised $228.4 Mn between March 16 and 20, marking a 11% from the $206.5 Mn raised across 22 deals in the previous week.
Funding Galore: Indian Startup Funding Of The Week [Mar 16 — 20]
| Date | Name | Sector | Subsector | Business Model | Funding Round Size | Funding Round Type | Investors | Lead Investor |
| 20 Mar 2026 | Neo Group | Fintech | Investment Tech | B2B,B2C | $53.4 Mn | – | TVS Capital | TVS Capital |
| 16 Mar 2026 | Ecofy | Fintech | Lending Tech | B2B, B2C | $42 Mn | – | British International Investment, Finnfund, FMO, Eversource Capital | British International Investment, Finnfund |
| 16 Mar 2026 | Atlys | Travel Tech | Travel Solutions | B2C | $36 Mn | Series C | Susquehanna Asia VC, MakeMyTrip, Elevation Capital, Long Journey Ventures, Peak XV Partners | Susquehanna Asia VC |
| 19 Mar 2026 | Assiduus | Enterprise Services | – | B2B | $25 Mn | Pre Series B | Bajaj FinServ, Uncorrelated Ventures, Aaruda Technology Fund | Bajaj FinServ |
| 18 Mar 2026 | Aerchain | Logistics | Procurement Services | B2B | $13 Mn | Series A | Pavestone, IndiaMART | Pavestone |
| 18 Mar 2026 | Burger Singh | Foodtech | QSR | B2C | $8.8 Mn | Series B | Artal Asia, Negen Undiscovered Value Fund, Aurum Rising India Fund | Artal Asia |
| 17 Mar 2026 | OfficeBanao | Real Estate Tech | Real Estate Services | B2B | $7.7 Mn | – | Lightspeed, Medra Family | Lightspeed |
| 18 Mar 2026 | VerbaFlo | AI | Application Layer | B2B | $7 Mn | Seed | pi Labs, Haatch, Navigate Ventures, Old College Capital | Pi Labs |
| 17 Mar 2026 | BambooBox | Enterprise Tech | Horizontal SaaS | B2B | $6.6 Mn | – | Peak XV Partners (Surge), Emergent Ventures, Arc180, Uncorrelated, HAF | Peak XV (Surge) |
| 18 Mar 2026 | CometChat | Enterprise Tech | Horizontal SaaS | B2B | $6.5 Mn | – | Run Ventures | Run Ventures |
| 17 Mar 2026 | IG Defence | Advanced Hardware & Technology | Defence Tech | B2B | $5 Mn | Pre-Series A | India Accelerator, Finvolve | India Accelerator |
| 16 Mar 2026 | Grapevine | Media & Entertainment | Social Media | B2C | $4.1 Mn | – | Kae Capital, Peak XV Partners, Ronnie Screwvala (upGrad) | – |
| 17 Mar 2026 | Velmenni | Advanced Hardware & Technology | Internet Of Things (IoT) & Hardware | B2B | $3.3 Mn | Pre-Series A | pi Ventures, MountTech Growth Fund | pi Ventures |
| 16 Mar 2026 | AGNIT Semiconductors | Advanced Hardware & Technology | Semiconductor | B2B | $2.6 Mn** | Seed | Shastra VC, 3one4 Capital, Zephyr Peacock | Shastra VC |
| 17 Mar 2026 | DrinkPrime | Ecommerce | D2C | B2C | $2.2 Mn | – | Mirabilis Investment Trust, Artha Continuum Fund | – |
| 19 Mar 2026 | Mave Health | Health Tech | Healthcare Devices | B2C | $2.1 Mn | Seed | Blume Ventures, All In Capital, Inuka Capital, Stanford Angels | Blume Ventures |
| 17 Mar 2026 | Canvaloop | Cleantech | Climate Tech | B2B | $1.4 Mn | – | GVFL, Rockstud Capital | GVFL |
| 19 Mar 2026 | Rymo Technologies | Health Tech | Medical Equipments | B2B | $1.2 Mn | Seed | IAN Angel Fund | IAN Angel Fund |
| 18 Mar 2026 | Laani | Ecommerce | D2C | B2C | $973K | Pre-Seed | V3 Ventures, Saama Capital, Arjun Purkayastha (Reckitt), Manish Taneja (Purplle), Kunal Bahl (AceVector), Aneesh Sheth (Dr. Sheth’s Skincare) | V3 Ventures, Saama Capital |
| 19 Mar 2026 | Pinq Polka | Ecommerce | D2C | B2C | $479K | Pre-Series A | Inflection Point Ventures | Inflection Point Ventures |
| 17 Mar 2026 | Moe Puppy | Ecommerce | D2C | B2C | $214K | Pre-Seed | PedalStart, Zindagi Live Angel Fund | PedalStart |
| Source: Inc42 *Mix of primary and secondary transactions ** Part of a larger round |
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Key Startup Funding Highlights Of The Week
- Fintech segment overtook ecommerce in terms of sectoral funding trends on the back of Neo Group’s $53.4 Mn and Ecofy’s $42 Mn fund raise this week.
- Ecommerce saw the highest number of four deals materialise this week, with a total capital infusion of $3.9 Mn.
- Seed funding for the week increased 12% to $12.9 Mn from $11.5 Mn raised last week
- Peak XV Partners was the most active investor, backing Atlys, BambooBox and Grapevine this week.
Startup IPO Updates This Week
- Over 16 years after listing on the Nasdaq, Delhi NCR-based MakeMyTrip is now planning for an IPO in the Indian equities market.
- SEBI has given its greenlight to the initial public offering of Fabhotels’ parent entity Travelstack Tech which is expected to comprise a fresh issue of shares worth up to ₹250 Cr and an offer-for-sale (OFS) component of up to 2.69 Cr shares
- PhonePe has paused its IPO amid heightened market volatility. Sources close to the development told Inc42 that the fintech major is likely to push its OFS-only IPOIPO at least till June 2026.
Fund Updates For The Week
- Deeptech-focused VC firm Celesta Capital is planning to launch an India-focused VC fund with a target corpus of ₹2,000 Cr, sources told Inc42. The fund will primarily invest in early-stage deeptech startups at Series A and B, with average cheque sizes ranging between $3 Mn and $7 Mn.
- Former Peak XV Partners MDs Shailesh Lakhani and Harshjit Sethi have partnered to launch an early-stage VC firm, Ambition Capital, with a maiden $250 Mn fund.
Other Updates Of The Week
- Listed gaming major Nazara is set to acquire 50% stake in Spanish casual gaming studio Bluetile Games and player engagement platform BestPlay Systems for a total consideration of $100.3 Mn.
- L’Oreal is reportedly in talks with BPC startup Innovist to buy out a majority stake in the startup. The deal could potentially value the startup in the range of $350-450 Mn.
- Tamil Nadu Industrial Development Corporation (TIDCO) plans on investing ₹25 Cr each in spacetech startup Agnikuand electric motorcycle manufacturer Raptee.
- KKR has signed a definitive agreement to buy a minority stake in electric bus manufacturer PMI Electro Mobility and a majority stake in its electric bus platform Allfleet for up to $310 Mn.
- Cofounder and CEO Gaurav Munjal took to social media platform X today on Sunday to announce that upGrad had signed a term sheet to acquire 100% stake in Unacademy.
The post From Neo To Atlys— Indian Startups Raised $228 Mn This Week appeared first on Inc42 Media.
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