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Startups & Venture Capital

Seed-to-IPO funding rounds, accelerator cohorts, unicorn valuations, tech founders and VC sentiment.

The Second-Wave Unicorns: Why India’s Deep-Tech and SaaS Founders are Ditching Hyper-Growth for Free Cash Flow

India’s startup reset is no longer a cyclical funding pause; it is a structural repricing of what venture-backed success looks like. After the 2020-2022 B2C boom rewarded growth at any cost, founders in Bengaluru and beyond are now building around EBITDA, free cash flow, and domestic capital markets. The shift is most visible in deep-tech, space-tech, EV components, and enterprise SaaS, where long product cycles and exportable margins fit a more disciplined investor base. The new playbook is being shaped by tighter global liquidity, a harsher public-market lens, and a maturing domestic ecosystem that can support IPOs on NSE and BSE. Patient capital is replacing blitzscaling, but the trade-off is real: slower category creation, fewer consumer subsidies, and a narrower path to unicorn status. Yet for founders who can prove unit economics, India’s second-wave companies may be better positioned to outlast the funding winter and become durable public-market assets.

RDU Special Investigations Desk

7 min read•Special Report (Sept 27

Startups & Venture Capital

Venture Capital Inflows Surge in India: A Debt-Driven Week of Growth

Venture capital investments in Indian startups saw a significant uptick this week, fueled by several high-value deals and a growing appetite for debt financing. This trend highlights a shift in investor strategy amidst a dynamic economic landscape.

RDU Global Correspondent

4 min read•Sept 26

Startups & Venture Capital

Rio Health Secures $4.5 Million to Expand Quick Pharmacy Network

Rio Health, a pharmacy-focused quick commerce startup, has successfully raised $4.5 million in a pre-Series A funding round. The investment aims to enhance its operational capabilities and expand its reach across India, addressing the growing demand for accessible healthcare solutions.

RDU Global Correspondent

4 min read•Sept 26

Startups & Venture Capital

Exclusive: CodeKarma In Talks To Raise $6 Mn From Prosus, Accel

Enterprise tech startup CodeKarma is reportedly negotiating a fresh funding round of $5 million to $6 million, with major investments expected from Prosus and Accel. This potential influx of capital underscores the growing interest in India's tech ecosystem, particularly in the enterprise sector.

RDU Global Correspondent

4 min read•Sept 26

Startups & Venture Capital

Astrobase Pioneers Future of Medium-Lift Rockets in India

Astrobase, a leading spacetech startup, is at the forefront of India's burgeoning space industry, focusing on the development of medium-lift rockets. With recent funding from the Indian National Space Promotion and Authorization Center, Astrobase aims to revolutionize access to space and bolster India's position in the global space race.

RDU Global Correspondent

4 min read•Sept 26

Startups & Venture Capital

Rivet Bags $10.5 Mn From Peak XV, Others To Scale Dating Platform In US

Indian dating startup Rivet has secured $10.5 million in seed funding from Peak XV Partners and Shine Capital, aiming to expand its footprint in the U.S. dating market. This investment marks a significant step for Rivet as it seeks to innovate and capture a growing demographic of users seeking meaningful connections.

RDU Global Correspondent

4 min read•Sept 26

Startups & Venture Capital

Dextr AI Secures $6.7 Million to Transform Hospitality with AI Agents

Dextr AI, a startup focused on AI solutions for the hospitality sector, has successfully raised $6.7 million in seed funding led by Elevation Capital. This investment aims to enhance customer experiences and operational efficiency through advanced AI technology.

RDU Global Correspondent

4 min read•Sept 26

Startups & Venture Capital

GalaxEye Secures ₹63.8 Cr RDI Support to Advance Multisensor Satellite Technology

Indian spacetech startup GalaxEye has been awarded ₹63.84 crore from the Centre's RDI Fund to enhance its multisensor satellite technology. This funding is poised to bolster India's position in the global space sector.

RDU Global Correspondent

4 min read•Sept 26

Startups & Venture Capital

Indian Startups Secure $203.4 Million in Funding Amidst Growing Innovation

In a remarkable week for Indian startups, a total of $203.4 million was raised across 21 funding deals, highlighting the vibrant landscape of innovation and investment in the country. Key players like Ultraviolette Automotive and GalaxEye are at the forefront of this funding surge.

RDU Global Correspondent

3 min read•Sept 26

Startups & Venture Capital

Aequs Plans ₹650 Cr Fundraise to Enhance Manufacturing Capabilities

Aequs, a leading contract manufacturing firm, has received board approval to raise up to ₹650 crore through a preferential issue, aimed at expanding its manufacturing capacity and enhancing its competitive edge in the technology sector.

RDU Global Correspondent

4 min read•Sept 26

Startups & Venture Capital

Indian Startups Soar: FY26 Sees 22 Tech IPOs Amidst Market Maturation

As the Indian startup ecosystem evolves, FY26 marks a pivotal year with 22 new tech companies going public, reflecting robust investor confidence and innovation. This trend signals a promising future for the sector, despite global economic challenges.

RDU Global Correspondent

4 min read•Sept 26

Startups & Venture Capital

IIT Madras and Unicorn India Ventures Secure ₹450 Cr for Deeptech Fund

IIT Madras and Unicorn India Ventures have successfully closed their first round of funding at ₹450 crore, aiming to bolster India's deeptech startup ecosystem. This initiative marks a significant step in fostering innovation and entrepreneurship in the technology sector.

RDU Global Correspondent

4 min read•Sept 26

Startups & Venture Capital

U.S. Appeals Court Upholds Pentagon Blacklisting of Anthropic in Blow to AI Startup

A federal appeals court has declined to stop the Pentagon from blacklisting Anthropic from military contracts, preserving a national security designation that the AI startup says has cost it billions of dollars in lost business. The ruling deepens a legal and reputational fight for the company as it heads toward a closely watched initial public offering, even as Anthropic pursues further judicial review.

RDU Global Correspondent

5 min read•7h ago

Startups & Venture Capital

IIT Madras sets bold startup target: 1,000 ventures by 2032, with one IPO a month in sight

IIT Madras has unveiled an ambitious long-term startup roadmap, aiming to nurture about 1,000 startups by 2032 and see at least one of them go public every month, Director Prof. V. Kamakoti said. The institute said it has already incubated 583 startups with a combined valuation of Rs 83,000 crore, underscoring its growing role as one of India's most influential deep-tech and entrepreneurship hubs.

RDU Global Correspondent

5 min read•6h ago

Startups & Venture Capital

Indian Startup Funding Rebounds to $382 Million as Debt-Led Mega Deals Mask Weak Equity Appetite

Venture capital inflows into Indian startups surged to $382 million across 21 deals in the week of Sept. 19-25, rebounding sharply from $99 million the previous week. But the headline number was inflated by debt-heavy financing, led by DMI Finance's $152 million raise, while true equity funding remained subdued even as investors spread bets across EV, finance and AI startups.

RDU Global Correspondent

5 min read•6h ago

Startups & Venture Capital

Akamai's $11.6 Billion Anthropic Deal Signals AI Infrastructure Arms Race as Indian Startups Raise, Expand and Scale

Akamai Technologies' reported $11.6 billion, seven-year cloud computing agreement with Anthropic underscores how rapidly the global AI infrastructure market is expanding, with the deal potentially rising to $20 billion. In India, the same day's startup roundup reflected a broader ecosystem in motion, from Dextr AI's $6.7 million seed round to mPokket's push deeper into New-to-Credit lending, alongside fresh moves in startup competitions and logistics capacity.

RDU Global Correspondent

6 min read•6h ago

Startups & Venture Capital

From Bihar to SEMICON India, Shweta Suman's Swadeza Bets on AI-Native Chip Tools for the World

Swadeza, a Bihar-built startup founded by Shweta Suman, is positioning itself at the intersection of India's semiconductor ambitions and the rise of AI-native engineering tools. The company says its FORGE platform is designed to speed up chip verification and related workflows through secure, on-premises deployment, with early claims of faster sign-off cycles and lower token usage than general-purpose AI assistants.

RDU Global Correspondent

5 min read•6h ago

Startups & Venture Capital

IITM Unicorn Frontier Fund I Secures Rs 450 Crore First Close, Targets Deep-Tech Breakout in India

The IITM Unicorn Frontier Fund I has reached a Rs 450 crore first close and has already deployed nearly Rs 55 crore into four deep-tech startups spanning space, quantum, batteries and carbon capture. Backed by IIT Madras, IIT Madras Research Park and Unicorn India Ventures, the fund is part of a larger Rs 1,000 crore vehicle designed to bridge the gap between laboratory innovation and commercial scale.

RDU Global Correspondent

5 min read•5h ago

Startups & Venture Capital

TPG Exits FirstCry in Rs 202 Crore Bulk Deal as PE Giant Trims Its Bet on India's Kids Retail Leader

Private equity major TPG has exited omnichannel kids wear and baby products company FirstCry through a Rs 202 crore bulk deal, marking another significant secondary-market transaction in India's startup ecosystem. The sale underscores how early investors are increasingly using public and pre-IPO market windows to lock in returns as consumer-tech companies mature.

RDU Global Correspondent

4 min read•4h ago

Startups & Venture Capital

CodeKarma in Talks to Raise $5 Mn-$6 Mn From Prosus, Accel as AI Dev Tools Heat Up

Enterprise tech startup CodeKarma is in discussions to raise between $5 million and $6 million in a fresh funding round led by existing backers Prosus and Accel, according to sources. The proposed financing comes just over a year after the Bengaluru-based startup's $2.5 million pre-seed round and amid rising investor appetite for software-development tools built for the AI era.

RDU Global Correspondent

5 min read•3h ago

Startups & Venture Capital

Astrobase Bets on Propulsion to Power India's Next Wave of Reusable Rockets

Bengaluru startup Astrobase Technologies has emerged as one of the first beneficiaries of IN-SPACe's Rs 500 crore Technology Adoption Fund, a milestone that underscores India's growing private-space ambitions. Founded by IIT Bombay classmates Neeraj Khandelwal and Devakumar Thammisetty, the company is building an indigenous propulsion stack anchored by its full-flow staged combustion engine Everest, with an eye on reusable launch systems and a much larger national launch capacity.

RDU Global Correspondent

5 min read•3h ago

Startups & Venture Capital

Rivet Raises $10.5 Million From Peak XV, Shine Capital and Blume to Take Community-Driven Dating Nationwide in the US

Dating startup Rivet has secured $10.5 million in seed funding from Peak XV Partners, Shine Capital and Blume Ventures as it moves to scale its community-led matchmaking platform across the United States. Founded by former Tinder and Match Group executive Taru Kapoor and ex-CarDekho used-car CEO Rajat Sahni, the company is betting that "social matching" can offer a less transactional alternative to swipe-based dating apps.

RDU Global Correspondent

5 min read•3h ago

Startups & Venture Capital

Dextr AI Raises $6.7 Million to Bring AI Agents Into Hotel Operations

Hospitality-focused startup Dextr AI has raised $6.7 million in seed funding led by Elevation Capital, with participation from Foundation Capital, as it looks to expand its AI agents across global hotel markets including India. The company says its software is already handling more than 1 million interactions a month for hundreds of properties across North America and Europe, while automating reservations, guest requests, staffing and marketing.

RDU Global Correspondent

5 min read•3h ago

Startups & Venture Capital

GalaxEye Secures Rs 63.84 Crore RDI Backing to Advance Indigenous Multisensor Satellite Tech

Bengaluru-based spacetech startup GalaxEye has won Rs 63.84 crore in financial support under the Centre's Research, Development and Innovation Fund to build its next-generation multisensor satellite platform. The project, backed by the Technology Development Board, aims to push the company's indigenous OptoSAR technology from prototype stage to an operational system capable of sub-0.5-metre Earth observation imaging.

RDU Global Correspondent

5 min read•3h ago

Startups & Venture Capital

Indian Startups Raise $203.4 Mn in One Week as AI and Cleantech Dominate Funding Surge

Indian startups raised $203.4 Mn across 21 deals between September 21 and September 25, a sharp 3.4X jump from the $58.9 Mn raised by 14 startups in the previous week. The surge was led by large rounds in AI and cleantech, with Ultraviolette Automotive and Ema accounting for most of the week's capital inflow.

RDU Global Correspondent

5 min read•2h ago

Startups & Venture Capital

Aequs to Raise Rs 650 Crore in Promoter-Backed Preferential Issue to Fund Manufacturing Expansion

Aequs' board has approved a preferential issue of warrants worth up to Rs 650 crore to promoter group entity Mellwood Trustee Services Pvt Ltd, with the proceeds earmarked for capacity expansion across aerospace and consumer businesses. The capital infusion is intended to support the company's Hosur facility, investments in subsidiaries and joint ventures, and broader growth plans through FY28.

RDU Global Correspondent

5 min read•2h ago

Startups & Venture Capital

Indian Startups Post Strong FY26 Revenue Growth as Profitability Broadens, but Losses Still Bite

India's startup ecosystem entered FY26 with clearer signs of maturity, as more new-age tech companies turned profitable and overall operating revenue surged 44.25% year-on-year to Rs 3.22 lakh crore. Yet the gains were uneven: while 65 of 97 tracked startups reported profits, 32 companies still posted a combined loss of Rs 21,426.8 crore, showing that the path to durable profitability remains incomplete.

RDU Global Correspondent

6 min read•2h ago

Startups & Venture Capital

IIT Madras, Unicorn India Ventures Close First Rs 450 Crore Deeptech Fund

IIT Madras, IIT Madras Research Park and Unicorn India Ventures have announced the first close of their deeptech-focused IITM Unicorn Frontier Fund I at Rs 450 crore, setting up one of India's most targeted early-stage technology vehicles. The fund has already deployed nearly Rs 55 crore across four startups and aims to back 25 companies in sectors ranging from defence tech and spacetech to semiconductors, robotics and healthtech.

RDU Global Correspondent

5 min read•2h ago

Startups & Venture Capital

India Weighs New Trade Secrets Law as Startups, Industry Push for Balance on Whistleblowers and Enforcement

India is preparing to consult industry on whether it needs a dedicated trade secrets law, as officials weigh concerns from startups over compliance burdens and from established firms over contract enforcement. The discussion also centers on how any new framework would protect confidential business information without weakening whistleblower safeguards.

RDU Global Correspondent

5 min read•13m ago

Startups & Venture Capital

IIT-Madras Deep-Tech Fund Closes First Rs 450 Crore, Backing Frontier Startups in Defence, Space and AI

The IIT Madras-led Unicorn Frontier Fund has reached a Rs 450 crore first close, marking a major early milestone for its Rs 1,000 crore deep-tech investment vehicle. Backed by alumni, family offices, institutions, corporates and banks, the fund has already deployed capital into four startups working on rocket engines, air-quality technology, quantum instrumentation and energy storage.

RDU Global Correspondent

5 min read•5h ago