Startup funding remained steady in the second week of February, with AI and healthcare ventures attracting capital despite market uncertainty.Funding activity continued abated in the second week of February as India’s startup sector looks to be maturing in terms of the kind of ideas that are now getting capital backing.
From AI-powered platforms to healthcare firms, the country’s innovation agenda shows no signs of stopping despite broader market uncertainties.
ETEntrepreneur brings a roundup of key deals below.
IDfy bags $52.5 mn led by Neo Asset Management
Digital trust and verification platform IDfy has raised ₹476 crore ($52.5 million) in a funding round led by Neo Asset Management’s Neo Secondaries Fund. The round includes a mix of primary and secondary capital, with participation from existing backers including Blume Ventures, Analog Capital, Elev8, IndiaMART, and Kae Capital. “Digital economies run on trust, the moment it breaks, adoption stops. This funding will accelerate our mission to build the digital infrastructure for trust for billions of people around the world,” said Ashok Hariharan, Co-founder & CEO of IDfy.
Read the whole story here.
Petcare startup Supertails raises $30 mn led by Venturi Partners
Petcare startup Supertails has raised $30 million in a round led by Singapore-based investment firm Venturi Partners with participation from Nippon India Alternative Investments, Titan Capital, and existing investors Fireside Ventures, RPSG Capital Ventures, Sauce VC, and Saama Capital. The Bengaluru-based company plans to use the funds to strengthen its end-to-end pet care ecosystem and expand its services to new geographies, cofounder Vineet Khanna said.
Read the whole story here.
Indigrid closes ₹75 crore Series A funding
Indigrid Technology has raised ₹40 crore in additional funding to close its Series A round at ₹75 crore as it looks to expand production capacity and deepen technology capabilities amid rising demand for localised electronics manufacturing.
The Series A round was led by Cactus Partners while the new fundraise saw participation from Valour Capital, ITI Growth Opportunities Fund, Vimson Group, and Global South Capital.
Founded by Rishab Puri and Sameer Narang, Indigrid operates an integrated electronics manufacturing platform spanning electronics manufacturing services, electronics system design and manufacturing, and original design manufacturing.
Read the whole story here.
Lending startup Olyv bags $23 mn from Fundamentum, SMBC Fund
Bengaluru-based consumer lending startup Olyv has secured $23 million in a fresh funding round from Fundamentum Partnership and SMBC Asia Rising Fund. Fundamentum had also led a major funding round in SME-focused lending platform Flexiloans last year. SMBC Asia Rising Fund is a fintech-focused investor backing prominent startups like Vayana, M2P Fintech, DPD Zero and others.
The company is planning to apply for an insurance broking licence in a bid to expand its core offerings from loans to other financial services. The startup, which was founded in 2017, counts Lightrock and Accion as its other investors.
Read the whole story here.
Benny’s Bowl raises $1.4 mn pre-Series A funding led by Atomic Capital
Benny’s Bowl, a pet nutrition brand, has raised $1.4 million in a pre-series A round led by Atomic Capital.
The newly raised funds will be used to boost product innovation and research that will help it launch new product lines including cat food, protein supplements, among others.
Benny’s Bowl will also focus on expanding distribution across channels and spend on educating consumers about pet nutrition.
Read the whole story here.
ThirdAI raises $3 mn seed funding led by Endiya Partners, Capria Ventures
ThirdAI Automation has raised $3 million in a seed funding round led by Endiya Partners and Capria Ventures. Founded in 2024 by Dr. Vivek Vishwakarma and Dr. Sainyam Galhotra, ThirdAI is developing causal artificial intelligence solutions for semiconductor tool vendors and fabs, helping diagnose failures, reduce downtime and improve production yield.
“In a modern semiconductor fab, downtime is often triggered by issues engineers already have the data for, but not the clarity to diagnose quickly. ThirdAI is built to surface cause-and-effect relationships directly at the equipment layer, so that teams can act with confidence rather than rely on trial and error,” said Dr. Vishwakarma.
Read the whole story here.
Ethera raises $2.7 mn funding from Bluestone
Ethera, a lab-grown diamond jewellery brand, has raised ₹25 crore from Bluestone. The new capital will be used to expand the company’s retail presence, boost design and tech capabilities and support brand awareness initiatives.
The company started a little more than a year ago and already has five stores in the cities of Bengaluru and Delhi. It claimed that multiple new locations will go live in the next few weeks.
Read the whole story here.
Medical robotics startup Articulus Surgical raises funding from Kalaari Capital
Medical startup Articulus Surgical has raised funding from Kalaari Capital, as it looks to commercially roll out its indigenously built surgical robotics systems across Indian hospitals.
While the startup did not disclose the amount, it said the capital will be used to accelerate market deployments, expand surgeon training programmes, and deepen partnerships with hospitals over the next 12-18 months.
Founded in 2019, Articulus Surgical builds robotics systems for minimally invasive soft-tissue surgeries, a segment where adoption remains low despite large volumes.
Read the whole story here.
Showroom B2B raises $17 mn Series A funding led by Cactus Partners
Showroom B2B, an apparel manufacturing and supply chain platform, has raised $17 million in a Series A funding round led by Cactus Partners.
The round also saw participation from Zephyr Peacock, Jungle Ventures, Accion Ventures, NBD Ventures, Lighthouse Canton and Alteria Capital. The new capital will be used to expand manufacturing capacity and deepen industry partnerships with enterprises as well as small and mid-sized retailers and manufacturers.
Read the whole story here.
Sanitary waste recycler PadCare Labs raises $3 mn from Nithin Kamath’s Rainmatter, others
Sanitary waste recycling startup PadCare Labs has raised $3 million in a funding round led by Zerodha cofounder Nithin Kamath’s Rainmatter. The funding round, which comprised a mix of equity and debt, also saw 3one4 Capital, PKRBCV Shroff Trust, Brigade Reap and existing investors Lavni Ventures, and 3i Partners participate.
The company plans to deploy the capital to ramp up its recycling capacity, expand its operations across Bengaluru and Delhi NCR, and strengthen its leadership and core operating functions.
Read the whole story here.
While cheque sizes remain measured, investor appetite to back firms with clear product differentiation shows how continued confidence still remains in the innovation pipeline.
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