From Ultraviolette To Furlenco— Indian Startups Raised $133 Mn This Week

SUMMARY

Between December 1 and 5, 18 startups raised $132.7 Mn, marking a 32% decline from $195.2 Mn raised by 24 startups in the preceding week

Cleantech managed to be one of the most prominent sectors with 2 startups raising a total of $51 Mn this week

Sparrow Capital turned out to be the most active investor this week, backing Mannjal and ReplyAll

Amid heightened startup IPO activity, private funding in the Indian startup ecosystem took a downturn this week. Between December 1 and 5, 18 startups raised $132.7 Mn, marking a 32% decline from $195.2 Mn raised by 24 startups in the preceding week.

Funding Galore: Indian Startup Funding Of The Week [ Dec 1 – 5 ]

Date	Name	Sector	Subsector	Business Model	Funding Round Size	Funding Round Type	Investors	Lead Investor
4 Dec 2025	Ultraviolette	Cleantech	Electric Vehicles	B2C	$45 Mn*	Series E	Zoho, Lingotto	–
2 Dec 2025	StockGro	Fintech	Investment Tech	B2C	$16.7 Mn	Series B	Mukul Agrawal (Param Capital)	Mukul Agrawal (Param Capital)
1 Dec 2025	Finfactor	Fintech	Fintech SaaS	B2B	$15 Mn	Series A	WestBridge Capital, Varanium Capital, DMI Sparkle Fund, IIFL	WestBridge Capital
3 Dec 2025	Furlenco	Ecommerce	D2C	B2C	$13.9 Mn	–	Sheela Foam, WhiteOak Capital, Madhu Kela (MK Ventures)	Sheela Foam
4 Dec 2025	Planys Technologies	Advanced Hardware & Technology	Maritime Tech	B2B, B2G	$11.1 Mn	–	Ashish Kacholia (Lucky Investment Manager), Lashit Sanghvi (Alchemy Capital), Pratithi Investment, Samarthya Investment Advisors, 3i Partners, Letsventure	Ashish Kacholia (Lucky Investment Manager), Lashit Sanghvi (Alchemy Capital)
2 Dec 2025	Modulus Housing	Real Estate Tech	Construction	–	$7.7 Mn	Seed	Kalaari Capital, Hero Group, Samarthya Investments, SVAS Strategic Management, Sigma Ventures, Srinath Ramakkrushnan (Zetwerk)	Kalaari Capital, Hero Group, Samarthya Investments
4 Dec 2025	Ayekart	Agritech	Market Linkage	B2B	$6.5 Mn	Debt	Symbiotics Investments	Symbiotics Investments
3 Dec 2025	Moonrider	Cleantech	Electric Vehicles	B2C	$6 Mn	Series A	pi Ventures, Singularity AMC, Micelio Fund	pi Ventures
4 Dec 2025	CoreOps.AI	AI	Application Layer	B2B	$3.5 Mn	Pre-Series A	Siana Capital Management, Kettleborough VC, Aroa Venture Partners	Siana Capital Management
3 Dec 2025	Mirror Security	Enterprise Tech	Horizontal SaaS	B2B	$2.5 Mn	Pre-Seed	Sure Valley Ventures, Atlantic Bridge	Sure Valley Ventures, Atlantic Bridge
3 Dec 2025	Mannjal	Fintech	Lending Tech	B2B	$2 Mn	Seed	Arali Ventures, B Capital, Sparrow Capital, Gemba Capital	Arali Ventures, B Capital
2 Dec 2025	GetReplies	AI	Application Layer	B2B	$1 Mn	Seed	Patni Family Office	Patni Family Office
3 Dec 2025	ReplyAll	Ecommerce	D2C	B2C	$756K	Seed	Sparrow Capital, Antler India, Bharat Founders Fund, DeVC, Shantanu Deshpande (Bombay Shaving Company), Revant Bhate (Mosaic Wellness), Ashish Goel (OctoLife), Sangeet Agarwal (Mokobara), Navin Parwal (Mokobara), Nikhil Bhandarkar (Panthera Peak Capital), Arjun Vaidya (V3 Ventures)	Sparrow Capital, Antler India
5 Dec 2025	Redapto	AI	Application Layer	B2B	$500K	Pre-Seed	Y Combinator	Y Combinator
4 Dec 2025	TIDA Sports	Consumer Services	Hyperlocal Services	B2C	$333K	Seed	Inflection Point Ventures	Inflection Point Ventures
29 Nov 2025**	Iztri	Consumer Services	Hyperlocal Services	B2C	$180K	Seed	ajvc	ajvc
2 Dec 2025	Superhealth	Healthtech	In-Clinic Healthcare	B2C	–	–	MS Dhoni Famli Office, Panthera Peak Capital	–
4 Dec 2025	InMobi	Enterprise Tech	Horizontal SaaS	B2B	$250 Mn	Secondary Round	Naveen Tewari, Mohit Saxena, Abhay Singhal, Piyush Shah	Naveen Tewari, Mohit Saxena, Abhay Singhal, Piyush Shah
	Source: Inc42 Part of a larger round *Included this week as it was skipped last week Note: Only disclosed funding rounds have been included

Key Startup Funding Highlights Of The Week

Deal count wise, AI and fintech sector continued to be investors’ favorite segment. Both the segments witnessed 3 deals, across which startups cumulatively raised $5 Mn and $33 Mn respectively.
Cleantech managed to be one of the most prominent sectors with 2 startups raising a total of $51 Mn this week.
Sparrow Capital turned out to be the most active investor this week, backing Mannjal and ReplyAll.
Eight startups at the seed stage raised about $16 Mn this week.

Fund Updates Of The Week

Venture capital firm Nexus Venture Partners closed its eighth fund at $700 Mn to back early stage startups across segments like AI, enterprise tech, consumer services and fintech.
Former Haptik cofounderAakrit Vaish partnered with ex-Together Fund partner Pratyush Choudhary to launch a new AI-focussed VC fund Activate to invest in early-stage AI-native startups.
VC firm Fireside Ventures announced the final close of its Fund IV at INR 2,265 Cr raised through its gift city feeder fund and India master fund. It aims to back 30-35 early stage consumer brands through the fund, with initial cheque size of $1 Mn to $12 Mn.

Startup IPO Updates Of The Week

Meesho closed its IPO with an oversubscription of 79.03X, receiving bids for 2,196.7 Cr shares against 27.8 Cr shares available for subscription.
Aequs’ IPO closed with an oversubscription of 101.63X, receiving bids for 427.1 Cr shares against 4.20 Cr shares available for subscription.
This week, Wakefit filed its RHP for the IPO comprising a fresh issue of up to INR 377.2 Cr and an offer for sale (OFS) of up to 4.68 Cr equity shares. The shares of the company are likely to list on the exchanges on December 15, at INR 185 to INR 195 per share.
Temasek-backed home appliances startup Atomberg Technologies is preparing for a $200 Mn IPO. The startup has begun early talks with investment banks and is expected to appoint advisers soon

Other Developments Of The Week

As InMobi gears for IPO, the founders repurchased roughly 25–30% of the company’s shares from SoftBank, reducing its holding stake to under 8%.
Credlix has acquired a two-thirds stake in Vanik via an INR 80 Cr deal, allowing it to transition from a loan-sourcing platform into a fully regulated NBFC.
Following acquisition of payment-focused startup Rio.Money, Zaggle plans to invest INR 75 Cr to scale up the platform and expand its payment and credit-card capabilities.
Reliance Industries (RIL) has begun preparatory steps towards taking Jio Infocomm public, signalling a major IPO in the near future. The conglomerate has initiated informal discussions with investment banks