Today’s funding activity saw notable investments across healthtech, AI, quantum computing, and fashion commerce. In parallel, key news highlights included Zepto Café scaling back, Swiggy’s new healthy meals category, and AceVector gearing up for an IPO. Here is the roundup of key funding deals and business news in India.
Daily Indian Funding Digest – 16 July 2025
| Startup | Funding Amount | Stage | Lead Investor(s) | Purpose/Use |
|---|---|---|---|---|
| Culture Circle | Undisclosed | Undisclosed | Ritesh Agarwal | Scale AI‑powered engine, global expansion |
| Zuppa | US $1.5 million | Bridge round | Rahul Dewan (Srijan Tech) et al. | Advance autonomous drone tech development |
| Deep Algorithm Solutions | ₹10.8 crore (~US $1.3 m) | Seed | Unicorn India Ventures | Expand threat‑intel, enterprise & SEA market |
| Zulu Club | US $250 000 | Pre‑seed | TDV Partners | Scale 100‑minute fashion delivery in Delhi NCR |
| Zeus Hygia | US $2.5 million | Series A | NABVENTURES (VC arm of NABARD) | R&D, global rollout of nutraceuticals |
| Knot | US $3 million | Pre‑Series A | Kae Capital et al. | Expand quick‑fashion delivery and brand partnerships |
| Navana AI | ₹7 crore (~US $800 k) | Pre‑Series A | Antler India et al. | Scale multilingual voice‑AI solutions |
| Phi Commerce | ₹51.34 crore (~US $6 m) | Series B top‑up | BEENEXT | Enhance omnichannel payment platform |
| Truemeds | US $20 million | Series C (C2) | Peak XV Partners | Boost telehealth growth; part of ongoing $44M Series C |
| QpiAI | US $32 million | Series A | Avataar Ventures, National Quantum Mission | Develop quantum‑AI computing for enterprise |
Culture Circle raised funding from Ritesh Agarwal
Luxury fashion platform Culture Circle has received strategic funding from OYO’s Ritesh Agarwal, valuing the company at over INR 100 crore. The Mumbai-based startup leverages AI to offer curated luxury drops and authentic streetwear through its proprietary engine “SourceX”. (as first reported by Entrackr)
Zuppa raised $1.5 million in a bridge round
Chennai-based drone tech company Zuppa raised $1.5 million in a bridge round led by Rahul Dewan (Founder, Srijan Technologies), alongside Ajay Gupta and the Mangwani Family Office. Zuppa builds proprietary autonomous drone systems, which the fresh funding will help advance ahead of a larger Series A raise.
Deep Algorithm Solutions raised INR 10.8 crore in seed funding
Cybersecurity startup Deep Algorithm Solutions secured INR 10.8 crore ($1.3M) in a seed round led by Unicorn India Ventures. The company focuses on threat intelligence, leveraging AI to detect cyber risks in real-time.
The funding will be used to expand its security team, build enterprise integrations, and enter Southeast Asian markets.
👗 Zulu Club raised $250K in pre-seed
Fashion logistics startup Zulu Club raised $250,000 in a pre-seed round from TDV Partners. Operating in Delhi NCR, the platform offers “100-minute” delivery and try-at-home options for apparel and fashion accessories.
The funds will be used to enhance app personalisation and expand logistics capacity.
Zeus Hygia raised $2.5 million in Series A
Hyderabad-based Zeus Hygia Lifesciences, a nutraceutical innovation firm, raised $2.5 million in its Series A round led by NABVENTURES, the VC arm of NABARD. The company plans to use the funds to launch first-in-market herbal formulations for pain relief, weight management, and women’s health.
Knot raised $3 million in pre-Series A
Mumbai-based Knot, which promises ultra-fast fashion delivery, raised $3 million in a pre-Series A round led by Kae Capital. Other investors include Sparrow Capital, Boundless Ventures LLP, and founders from brands like SNITCH, The Souled Store, and Bonkers Corner.
The capital will be used to develop its tech stack, expand to new cities, and build deeper brand collaborations.
Navana AI raised INR 7 crore in pre-Series A
Voice technology startup Navana AI secured INR 7 crore (~$800,000) in a pre-Series A round led by Antler India. Angel investors like Ajay Agarwal, Ronnie Screwvala, and Sandeep Singhal also participated.
The startup, founded by Raoul and Jai Nanavati, builds AI-powered multilingual speech assistants and services over 12 Indian languages, already serving 40+ enterprise clients.
Phi Commerce raised INR 51.34 crore in Series B top-up
Phi Commerce, which enables omnichannel digital payments, raised an additional INR 51.34 crore ($6 million) in a Series B top-up from BEENEXT.
Phi Commerce’s unified platform supports card and UPI-based payments across offline and online retail, logistics, and government segments. The funds will help strengthen platform security and scale operations.
Truemeds raised $20 million in Series C2
Healthtech startup Truemeds received $20 million from Peak XV Partners in the C2 tranche of its Series C round, bringing the round’s total to over $44 million.
Truemeds enables affordable medicine delivery through e-prescription uploads and generic brand recommendations. Founded by Akshat Nayyar and Kunal Wani, the company saw FY24 revenues grow to INR 315 crore, while losses reduced to INR 61 crore. (first reported by Entrackr)
QpiAI raised $32 million in Series A
Quantum-AI startup QpiAI, based in Bengaluru, raised $32 million in a Series A round co-led by Avataar Ventures and India’s National Quantum Mission.
The capital will go towards commercialising its quantum stack globally and deepening enterprise adoption.
Key News Highlights for 16 July 2025
Zepto Café scales down operations
Four-year-old fast-delivery subsidiary Zepto Cafe has paused operations across several outlets in North India. The move comes amid supply chain issues and a shortage of trained staff, compounded by heightened competition from Blinkit’s Bistro and Swiggy’s Snacc. As a result, Zepto is delaying expansion of its “dark stores” and retrenching to manage operational efficiency.
Swiggy launches ‘High‑Protein’ meals in 30 cities
Swiggy has introduced a new “High‑Protein” meal category, available across 30 cities, featuring 500,000+ dishes from more than 35,000 restaurants. Each dish must contain at least 15 g of protein, under 700 kcal, and a protein‑to‑calorie ratio of ≥10%. This healthy-eating initiative aims to cater to fitness-focused consumers and diversify Swiggy’s menu offerings.
ixigo grants 211,912 ESOPs worth INR 3.78 crore
Le Travenues Technology Ltd—the parent company of travel‑tech platform ixigo—has granted 211,912 stock options under its ESOP schemes (2013, 2020, 2021, 2024) at an exercise price of INR 93/share, vesting over four years. The package is valued at INR 3.78 crore, reinforcing the company’s long-term employee retention strategy.
AceVector files DRHP for INR 500 crore IPO
AceVector Ltd, Snapdeal’s holding and ecosystem company, including Unicommerce and Stellaro Brands, is preparing to file its Draft Red Herring Prospectus (DRHP) to raise INR 500 crore through an initial public offering. CLSA and IIFL have been appointed as its bookrunning managers.
Three PE firms seek CCI nod for Theobroma deal
Three private equity firms, including Infinity Partners, Atreides Investments BV (linked to ChrysCapital), and Aqua Investments Ltd, ,have applied to the Competition Commission of India (CCI) to acquire a 90% stake in bakery chain Theobroma Foods.
Google offers free Gemini Pro plan to Indian students
Google is offering its AI‑powered Gemini 2.5 Pro plan (worth INR 19,500/year) free to Indian college students aged 18+ (the offer is valid until 15 September 2025). The offer includes tools such as Gemini 2.5 Pro, NotebookLM, Veo 3, Deep Research, and access to 2 TB of Google Cloud storage, enabling advanced AI-assisted learning.
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