On 29th July, Indian startups and businesses saw notable developments. Zepto raised fresh capital ahead of a larger round, while Passprt Trips secured $500K to expand its travel tech offering. Lenskart acquired Spain-based Meller in a global push, and the government capped Starlink’s user base in India. Here’s a quick look at the top funding deals and key business news from the day.
Daily Indian Funding Digest – 29 July 2025
| Startup | Funding Amount | Lead Investor(s) | Funding Stage |
|---|---|---|---|
| Zepto | ₹7.5 crore | Elcid Investments | Ongoing pre-IPO round |
| Passprt Trips | US $500,000 | Aroa Venture Partners | Pre-seed |
| Sharpsell.ai | ₹30 crore | Equentis Angel Fund, Cornerstone VC, Mistry Ventures | Series A |
| Optipro AI | Undisclosed | Undisclosed investors | Early-stage (SaaS) |
Zepto Raises INR 7.5 Crore from Elcid Investments
- Zepto received an investment of INR 7.5 crore from existing shareholder Elcid Investments, securing roughly 0.039 % equity at a valuation of INR 19,231 crore ( $2.26 billion).
- The company’s FY25 turnover surged to INR 11,110 crore, up 2.5 × from INR 4,454 crore in FY24, continuing its consistent growth trajectory.
- Zepto is currently pursuing a broader capital raise of approximately $500 million that could bring its valuation up to $7 billion, led by existing investors like General Catalyst and Avenir.
- The firm has completed a change of domicile to India in preparation for an anticipated IPO in FY26.
Passprt Trips Secures $500K in Pre-Seed Round
- Startup founded in 2023 by Ujjwal Garg and Manoj Rai, operates from Gurugram as an AI-powered personal travel advisor platform.
- Passprt Trips’ fresh $500,000 pre‑seed funding round was led by Aroa Venture Partners, which manages an INR 400 crore fund and has backed firms such as Unacademy, CRED and Magicpin.
- The funds will be deployed in product enhancement, community-building, and launching in 20 destinations across Asia‑Pacific and the Middle East within three months.
Sharpsell.ai Bags INR 30 Crore in Series A Funding
- Sharpsell.ai, founded in 2022 by Hanuman Kamma and Arun Subramanian, delivers AI-powered sales enablement tools used by large-scale Indian enterprises in the BFSI, auto, and pharma sectors.
- Sharpsell.ai secured INR 30 crore in Series A, of which INR 10 crore pertains to Equentis Angel Fund’s largest-ever Category‑I AIF investment in a single company; other backers include Cornerstone Venture Partners and Mistry Ventures.
- Funding will support deepening vertical penetration and international expansion into Southeast Asia and MENA.
Optipro AI Raises Undisclosed Amount
- Bengaluru‑based Optipro AI, founded by Harshendar Reddy, offers SaaS solutions to help restaurants manage delivery operations effectively across platforms such as Swiggy and Zomato.
- The recent, undisclosed funding will be used to enhance product innovation and expand presence nationally, supporting operations across more than 800 restaurant locations, processing over 5 million orders and 500,000 reviews.
Key News Highlights for 29 July 2025
Peyush Bansal Buys Back Lenskart Shares Ahead of IPO
Lenskart’s CEO, Peyush Bansal, has bought back 4.6 crore shares for ₹222 crore, ahead of the company’s IPO. The shares were repurchased at a steep discount, valuing the company below previous estimates. The buyback strengthens Bansal’s control and hints at a strategy to simplify the cap table before going public.
Lenskart Acquires Spain-Based Meller for INR 400 Crore
Lenskart has acquired Spanish eyewear brand Meller from its parent company Stellio for approximately INR 400 crore. This marks Lenskart’s latest move to expand its international presence. The deal aligns with its pre-IPO goals and helps strengthen its position in the European direct-to-consumer eyewear market.
BluSmart Faces Insolvency Due to Governance Issues
EV ride-hailing firm BluSmart is undergoing insolvency proceedings after a petition by Gensol, its vehicle leasing partner. Allegations point to serious corporate governance lapses, including missing board meetings and poor financial oversight. The case highlights broader concerns around internal checks in fast-scaling Indian startups.
CoinDCX Denies Reports of Acquisition by Coinbase
CoinDCX has denied being in acquisition talks with Coinbase after reports surfaced suggesting a potential deal. The company stated that the claims were speculative and misleading. The news comes at a time when India’s crypto sector is facing market pressure and hints of consolidation.
India Caps Starlink at 20 Lakh Users
India’s government has limited Starlink, Elon Musk’s satellite internet service by SpaceX, to a maximum of 20 lakh (2 million) users in the country.
The restriction is attributed to Starlink’s current spectrum and capacity constraints, not regulatory supervision. Service speeds are capped at up to 200 Mbps, which officials believe will not significantly affect BSNL or private telecom providers. The government also noted that high upfront equipment costs and a monthly fee of around INR 3,000 are likely to limit mass adoption among Indian consumers.
Starlink is expected to focus on rural and remote areas, aligning with its satellite-based model and where BSNL currently holds presence.
Drizz raises $2.7M, Krutrim lays off 100+ staff, new UPI rules announced, Lenskart board update & more key India news for 28 July 2025.
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