September 2, 2025, was an active day for India’s startup ecosystem with key fundraises across consumer care, EV mobility, and e-commerce. Highlights include Tuco Kids raising $4M, Offgrid Energy Labs securing $15M, LeafyBus expanding with $4.1M, and CityMall bagging $47M. On the business front, Urban Company and boAt got SEBI IPO approval, Goldman Sachs trimmed its stake in BlackBuck, Flipkart acquired Pinkvilla, and PhonePe launched loans against mutual funds.
Daily Indian Funding Roundup – 2nd September 2025
| Company | Amount | Round | Lead investor(s) | Sector |
|---|---|---|---|---|
| Tuco Kids | $4 Mn | Fresh funding | RTP Global | Children’s personal care |
| Offgrid Energy Labs | $15 Mn | Funding | Archean Chemical Industries | Battery / Energy storage |
| Venturi Partners | $150 Mn | First close (Fund II) | Existing & new investors | Venture Capital Fund |
| LeafyBus | $4.1 Mn | Pre-Series A | Enetra EV (backed by ICAM) | Intercity EV bus transportation |
| Zanskar | ₹2.8 Cr | Seed | Zeropearl VC | Pain-care & wellness |
| CityMall | $47 Mn | Series D | Accel | E-commerce (value, Tier-II/III towns) |
Tuco Kids raised $4 million in fresh funding
Bengaluru-based personal care brand Tuco Kids secured $4 million in fresh funding led by RTP Global, with additional participation from Fireside Ventures, Whiteboard Capital, and MG Investments. The startup plans to channel the funds into boosting brand awareness, expanding its offline retail footprint, and introducing a new category in children’s personal care.
Offgrid Energy Labs raised $15 million in funding
Noida-based battery startup Offgrid Energy Labs raised $15 million in a funding round led by Archean Chemical Industries, with participation from Ankur Capital. The startup will use the capital to set up a pilot manufacturing unit in the UK, expand R&D efforts, and commercialize its zinc-bromine gel (zincgel) batteries— with plans for a future facility in India as well.
Venturi Partners closed $150 million in the first close of Fund II
Singapore-based consumer growth investment firm Venturi Partners completed the first close of its second fund at $150 million, backed by both existing and new investors. The fund targets a final close of $225 million by June 2026. Fund II aims to invest $15–40 million each in 10 high-growth consumer brands across India and Southeast Asia, with an option for co-investment on a 1:1 basis for investors.
LeafyBus raised $4.1 million in pre-Series A
Delhi-based intercity EV bus startup LeafyBus raised $4.1 million in pre-Series A funding from Enetra EV, which is backed by Singapore’s Impact Capital Asia Management (ICAM). The fresh funds will help expand its electric bus fleet and services. LeafyBus currently operates routes including Delhi–Dehradun and Delhi–Agra and plans to add 100 more buses over the next two years while expanding to Chandigarh and Jaipur.
Zanskar raised ₹2.8 crore in seed round
Gurugram-based pain-care and wellness brand Zanskar raised ₹2.8 crore in a seed round led by Zeropearl VC, with participation from angel investors including Pawan Gupta (Fashinza), Amit Baid (10X Growth Ventures), and Nidhish Mundra (Oaktree Capital). The funds will be used to broaden the product line, ramp up R&D, scale digital marketing, and strengthen offline retail presence, alongside its D2C business.
CityMall raised $47 million in Series D
Gurugram-based value e-commerce startup CityMall raised $47 million in its Series D round, led by Accel, with participation from existing backers like Waterbridge Ventures, Citius, General Catalyst, Elevation Capital, Norwest Venture Partners, and Jungle Ventures. The startup plans to use the capital to deepen its footprint in existing geographies, enter adjacent markets, fortify its supply chain, and invest in private labels and brand partnerships, while also ramping up hiring across technology, product, and operations.
Key Business News for 2nd September 2025
Urban Company & boAt get SEBI nod for IPOs
At-home services platform Urban Company and consumer electronics brand boAt have both received approval from SEBI to proceed with their initial public offerings (IPOs). This signals a renewed momentum in India’s IPO market and allows both companies to begin raising capital through public share offerings.
Goldman Sachs trims stake in BlackBuck; Nomura steps in with ₹247 cr buy
Goldman Sachs reduced its stake in logistics firm BlackBuck (Zinka Logistics Solutions) via a bulk deal, triggering a share price drop of up to 3.5%. Meanwhile, Nomura has entered the fray with a fresh investment of ₹247 crore, indicating renewed investor interest in the company.
Flipkart acquires majority stake in Pinkvilla
E-commerce giant Flipkart has acquired a majority stake in digital infotainment platform Pinkvilla. While the financial terms were not disclosed, the deal positions Flipkart to tap into Gen Z and millennial audiences for enhanced engagement and future content-driven commerce strategies.
PhonePe launches loan service against mutual funds
Fintech platform PhonePe has introduced a new loan facility allowing users to borrow against their mutual fund holdings—up to ₹2 crore—without redeeming investments. Launched in partnership with NBFC DSP Finance, the entire onboarding process is digital and can be completed in under 10 minutes via the PhonePe app.
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