Omspace raised fresh capital to build its small satellite launch vehicle, BQP secured funding to scale its quantum-powered digital twin platform, and Udaan made a strategic move by acquiring ShopKirana. Here’s your quick roundup for 18 July 2025 of the top funding deals and key business news in India.
Daily Indian Funding Digest – 18 July 2025
| Company | Stage | Amount (USD) | Lead Investor(s) | Use of Funds |
|---|---|---|---|---|
| Omspace Rocket & Exploration | Pre-seed | $3 million | Family office, angels | Prototype, R&D, manufacturing in India and UAE |
| Curefit (Cult.fit) | Follow-on | $2 million | First Luxembourg SCA | Push towards EBITDA profitability by March 2026 |
| BQP (BosonQ Psi) | Seed | $5 million | Monta Vista Capital + others | Expand digital twin, scale quantum-native tech & R&D |
Omspace Secures $3 Million to Boost Small Satellite Launch Ambitions
Ahmedabad-based space-tech startup Omspace Rocket & Exploration has raised $3 million in pre-seed funding. The round was led by a family office and a group of angel investors.
The company is building a modular launch vehicle called Infinity One to carry payloads up to 350 kg to low Earth orbit. This funding will support finalising the prototype, R&D, manufacturing, and ground systems. Part of the expansion includes setting up infrastructure in the UAE via its entity OSRE FZC.
Curefit Raises $2 Million, Eyes Profitability by FY26
Health and wellness startup Curefit (Cult.fit) has secured $2 million in fresh capital from existing investor First Luxembourg SCA. (as reported by Inc42)
The round was a follow-on and comes at a flat valuation of $1.6 billion. The company is not in immediate need of funds but will use the capital to accelerate its path to EBITDA profitability by March 2026.
Founded in 2016, Curefit operates fitness centres and digital platforms for wellness and food.
BQP Raises $5 Million to Scale Quantum-Accelerated Digital Twin Platform
Deep-tech startup BQP (BosonQ Psi) has closed a $5 million seed round. The round was led by Monta Vista Capital, with participation from New York Ventures, Arc Ventures, Arka Venture Labs, Alumni Ventures, and others.
BQP’s flagship product BQPhy® is a quantum-accelerated digital twin platform designed for high-performance simulations in aerospace, automotive, and manufacturing. The platform already provides up to 10× faster results on classical infrastructure. Quantum-native solvers in development are expected to offer up to 1,000× performance boosts.
The funding will be used to expand into aerospace and defence sectors, build quantum-native solvers, and grow the India and US teams.
Key News Highlights for 18 July 2025
Reliance Retail Acquires Kelvinator
Reliance Retail, part of Reliance Industries, has officially acquired the Kelvinator home-appliance brand from Electrolux. This strategic move enhances its footprint in the consumer durables market—especially refrigerators—and complements its existing Reliance Digital retail chain. Electrolux reported a gain of 180 million Swedish crowns ($18.5 million) from the divestment. Financial details of the deal were not publicly disclosed
Udaan Acquires ShopKirana in All‑Stock Deal
Unicorn startup Udaan has agreed to acquire retail-tech startup ShopKirana in an all-stock transaction aimed at bolstering its presence in the FMCG and kirana marketplace. The deal, aligning with Udaan’s planned IPO, brings 100% ownership of ShopKirana under its umbrella and introduces Info Edge as a new shareholder. Udaan recently closed a $114 million Series G round and said the acquisition would deepen its tech, supply chain and retailer-network capabilities.
IndiQube Spaces Sets IPO Price Band at INR 225–237 Per Share
Co-working solutions provider IndiQube Spaces has priced its upcoming IPO at INR 225-237 per share, aiming to raise approximately INR 700 crore. The offer opens from 23-25 July, with anchor bids on 22 July. The capital is earmarked for expansion and debt reduction across its 15-city footprint.
Byju’s Founders Plan US$2.5 Billion Legal Action
Founders Byju Raveendran and Divya Gokulnath are initiating up to $2.5 billion in legal claims against GLAS Trust and other parties. The move follows a US Bankruptcy Court ruling that found Raveendran in civil contempt for non-compliance, imposing a $10,000 per day fine beginning 1 July 2025. The founders are disputing jurisdiction and duplicate proceedings across US and Indian courts.
Tata Electronics Partners Bosch for Indian Chip Ecosystem
Tata Electronics has signed an MoU with Robert Bosch GmbH to collaborate on semiconductor chip packaging and manufacturing. This partnership targets Tata’s new facilities in Assam (assembly & test) and Gujarat (foundry), with exploration into automotive electronics under Electronic Manufacturing Services (EMS) .
Amber Wings’ ATVA‑1 Drone Earns DGCA Certification
Chennai-based Amber Wings, incubated at IIT Madras, has received DGCA type certification for its hybrid cargo drone ATVA‑1—the first of its kind in India. It is cleared for 24/7 operations, including night flights, and is expected to transform last-mile logistics. The drone, developed through six design iterations, signals a key milestone in Indian drone manufacturing.
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