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While the introduction of MDR on UPI dominated India’s new-age tech discourse this week, startup funding fell sharply. Fourteen startups raised $58.9 Mn, down 82% from the $321.9 Mn raised last week. Funding Galore: Indian Startup Funding Of The Week Date Name Sector Subsector Business Model Funding Round Size Funding Round Type Investors Lead Investor 15 Sep 2026 Flam Enterprise Services Advertising B2B $40 Mn* Series B QED Investors, RTP Global, Dovetail Shah Rukh Khan family office, Claypond Capital, Australian Gulf Capital, Martin Chavez (Angel), Olivier Pomel (Angel). QED Investors 17 Sep 2026 DheyaTech Advanced Hardware & Technology Aerial Vehicles B2B $5.1 Mn - Avaana Capital, Unimech Aerospace and Manufacturing Avaana Capital 16 Sep 2026 VerifAIX Advanced Hardware & Technology Semiconductor B2B $5 Mn Seed Endiya Partners, Bluehill VC Endiya Partners, Bluehill VC 16 Sep 2026 Firi Consumer Services Quick Commerce B2C $3 Mn Seed 360 ONE Asset, Better Capital, Kunal Shah (WhatsApp) 360 ONE Asset 17 Sep 2026 Enlight Metals Enterprise Services Manufacturing Solutions B2B $1.5 Mn - Exar North Group Exar North Group 17 Sep 2026 Kiddo Consumer Services Quick Commerce B2C $1.3 Mn Pre-Seed Campus Fund Campus Fund 16 Sep 2026 TRUE ARTIS Health Tech In-Clinic Healthcare B2C $1.2 Mn Seed Zeropearl VC, Eleven, Sunil Sachdeva (Medanta) Zeropearl VC 17 Sep 2026 Factrika Enterprise Services Manufacturing Solutions B2B $928K Seed Info Edge Ventures Info Edge Ventures 17 Sep 2026 Ecosys Consumer Services Hyperlocal Services B2C $521K Pre-Series A GVFL Prarambh Fund, Proteus Partners, Puru Gupta (Angel), Sreejith Moolayil (Angel) GVFL Prarambh Fund 18 Sep 2026 MoroMaa Ecommerce D2C B2C $156K - AJVC AJVC 16 Sep 2026 Slayd Ecommerce Ecommerce Enablers B2C $156K - AJVC AJVC 18 Sep 2026 Beijan Advanced Hardware & Technology Defence Tech B2B, B2G $156K - AJVC AJVC 15 Sep 2026 Darwinbox Enterprise Tech Horizontal SaaS B2B - - Teachers’ Venture Growth Teachers’ Venture Growth 18 Sep 2026 Zinara Ecommerce D2C B2C - - Nikita Dutta Nikita Dutta Source: Inc42 *Mix of primary and secondary transactions Key Startup Funding Highlights Of The Week Enterprise services attracted the most capital this week, with three startups raising $42.5 Mn. Advertising services startup Flam accounted for the bulk of this funding with the week’s largest round of $40 Mn. Consumer services recorded three deals, with startups in the sector raising a total of $4.8 Mn. AJVC was the most active investor this week, backing MoroMaa, Beijan and Slayd. The VC firm also saw PE firm Novastar Partners as a limited partner for its fund. Five startups at the seed stage raised about $10.1 Mn, led by VerifAIX's $5 Mn round. Startup Fund Updates This Week India Accelerator’s Finvolve announced the first close of its ₹250 Cr growth stage fund at ₹90 Cr. It intends to build a portfolio of 30-35 growth and late stage startups over the next three to four years. AI focused VC firm Activate closed its maiden fund at $105 Mn within a year of its launch. It is targeting to back 25-30 startups operating across the AI sector. Dani Family Office's Asiana Fund and Taiwan-based VC firm JC Capital launched the ₹1,000 Cr Asiana-JCC Advanced Manufacturing & Innovation Fund, with a primary corpus of ₹600 Cr and a green shoe option of ₹400 Cr. Startup IPO Updates Of The Week SEBI cleared the IPOs of Kuku Technologies and Fibe this week. Rentomojo made a strong listing this week after receiving an overwhelming investor interest, giving hefty returns to early backers like Accel. After receiving SEBI approval for its IPO, Moneyview has now halved the fresh issue component to ₹750 Cr and trimmed the offer for sale (OFS) component to 10.04 Cr equity shares. With greater clarity around the monetisation of UPI payments, PhonePe is set to revive its IPO plans. Inc42 learnt that the company would be looking to file its updated IPO papers for an IPO that could value it at about $10 Bn. The company is now targeting a listing between February-March 2027. Other Developments Of The Week Coursera-backed edtech startup Unstop acquired gaming startup PerspectAI for an undisclosed sum this week. The acquisition adds a combination of gaming and data science to Unstop's engagement and hiring platform. Over a month after Yulu's $93 Mn Series C round, its early-backer 3one4 Capital announced that the round gave it a "successful, profitable" exit from the startup. The investor didn't disclose who was the buyer of its stake in the secondary transaction. Eyewear major Lenskart upped its stake in XR startup AjnaLens’ parent Dimension NXG with an ₹8 Cr investment to acquire an additional 1.8% stake in the startup. PB Fintech's board approved the acquisition of the remaining 20% stake in MyLoancare Ventures for ₹5 Cr to make it a wholly owned subsidiary. The board also approved capital infusions of up to ₹10 Cr into PB Wheels and ₹1 Cr into PB Financial Account Aggregator, both wholly owned subsidiaries.
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