SUMMARY
Indian startup funding stood at $200.2 Mn across 31 deals, up 42% from the preceding week
Between February 16 and 20, 16 startups collectively raised $118.3 Mn — a sharp 69% drop from the $200.2 Mn secured across 31 deals in the preceding week
Peak XV and Tenacity were the most active investors this week, backing two startups apiece
Despite a slew of positive announcements at the ongoing India AI Impact Summit this week, fresh capital inflow into the Indian startup ecosystem remained subdued.
Between February 16 and 20, 16 homegrown startups collectively raised $118.3 Mn — a sharp 69% drop from the $200.2 Mn secured across 31 deals in the preceding week.
However, the overall funding number received a major boost from Spinny’s $170 Mn Series G round, which was reported last Saturday (February 14). Including the mega funding round, Indian startup funding zoomed 42% week-on-week to $285.3 Mn.
Funding Galore: Indian Startup Funding Of The Week [Feb 16 – 20]
Date
Name
Sector
Subsector
Business Model
Funding Round Size
Funding Round Type
Investors
Lead Investor
14 Feb 2026*
Spinny
Ecommerce
Vertical Marketplace
B2C
$170 Mn
Series G**
Fidelity Investments, Accel
Fidelity Investments, Accel
18 Feb 2026
Stable Money
Fintech
Investment Tech
B2C
$25 Mn
Pre-Series C
Peak XV Partners, Z47, RTP Global, Lightspeed, Fundamentum Partnership
Peak XV Partners
18 Feb 2026
Statiq
Clean Tech
Electric Vehicles
B2B
$18 Mn
–
Tenacity Ventures, Y Combinator, Shell Ventures, RCD Holdings
Tenacity Ventures
20 Feb 2026
Portkey
AI
Application Layer
B2B
$15 Mn
Series A
Elevation Capital, Lightspeed
Elevation Capital
16 Feb 2026
C2i Semiconductors
Advanced Hardware & Technology
Semiconductor
B2B
$15 Mn
Series A
Peak XV Partners, TDK Ventures, Yali Capital
Peak XV Partners
18 Feb 2026
Vervesemi
Advanced Hardware & Technology
Semiconductor
B2B
$10 Mn
Series A
Ashish Kacholia (Lucky Investment), Unicorn India Ventures, Roots Ventures, Caperize Fina, MAIQ Growth Scheme
Ashish Kacholia (Lucky Investment), Unicorn India Ventures
18 Feb 2026
Peptris
Health Tech
Lifescience
B2B
$7.7 Mn
Series A
IAN Alpha Fund, Speciale Invest, Tenacity Ventures, BYT Ventures
IAN Alpha Fund, Speciale Invest
17 Feb 2026
HomeRun
Consumer Services
Quick Commerce
B2B
$6.6 Mn
Series A
Sorin Investments, Titan Capital, Sparrow Capital, Consumer Collective, Helios Holdings
Sorin Investments
20 Feb 2026
Myelin Foundry
AI
Application Layer
B2B
$5.3 Mn
–
ASM Technologies
ASM Technologies
17 Feb 2026
ToneTag
Fintech
Banking
B2B
$3.8 Mn
–
Qualcomm Ventures
Qualcomm Ventures
17 Feb 2026
CraftifAI
AI
Application Layer
B2B
$3 Mn
Seed
Ankur Capital, IvyCap Ventures, Capital-A, Antler
Ankur Capital
19 Feb 2026
Pluto Mobility
Clean Tech
Electric Vehicles
B2B
$2 Mn
Seed
Version One Ventures, Grad Capital
Version One Ventures
17 Feb 2026
Intrinsic Foundries
Clean Tech
Climate Tech
B2B
$1.4 Mn
Seed
Transition VC
Transition VC
16 Feb 2026
Otto Money
Fintech
Investment Tech
B2C
$1.3 Mn
Pre-Seed
Pravega Ventures
Pravega Ventures
17 Feb 2026
Beep
Edtech
Digital Learning Platform
B2C
$850K
Pre- Series A
Knowhere Ventures, Pacific Global Solutions, LeadAngels FLV, Vipul Prakash (wowJobs), Sandeep Johri (Checkmarx)
–
20 Feb 2026
Roopya
Fintech
Fintech SaaS
B2B
$440K
Seed
Inflection Point Ventures
Inflection Point Ventures
20 Feb 2026
CoreShield Technologies
Advanced Hardware & Technology
Defence Tech
B2G
–
Seed
ThinKuvate
ThinKuvate
Source: Inc42
*Including this week as it was skipped last week
**Mix of primary and secondary transactions
Key Startup Funding Highlights Of The Week
Ecommerce continued to dominate the overall funding trends this week on the back of Spinny’s mega round.
Advanced hardware & technology sector, which houses innovations in segments like deeptech and spacetech, saw the highest number of four deals materialise this week. Startups in the space cumulatively raised $26 Mn.
AI and enterprise tech sector clocked three deals each this week, translating to a capital infusion of $23 Mn and $30 Mn, respectively.
While B2C segments lapped up about 70% of the total funds poured into the ecosystem, 13 B2B startups bagged the remainder of the funds.
Peak XV and Tenacity were the most active investors this week, backing two startups apiece.
Startup Fund Updates Of The Week
Peak XV announced three maiden funds, India Seed, India Venture and APAC Funds, the VC firm’s first independent funds after separating from Sequoia Capital in 2023. The VC giant also claimed that it has closed commitments to the tune of $1.3 Bn for the three funds.
Suhail Sameer-led OTP Ventures announced the final close of its maiden venture fund at ₹500 Cr. The fund, which had initially set out to raise ₹400 Cr, exceeded its target following a 17-month fundraising exercise.
VC firm ValleyNXT Ventures launched its maiden fund, with a target corpus of ₹200 Cr (about $22 Mn) and a greenshoe option of ₹200 Cr to back early-stage deeptech startups. The firm plans to back spacetech, defence tech, robotics, AI/ML, cybersecurity, biotech, sustainability, and consumer innovation startups via the fund.
Equirus Group announced the final close of its maiden early-stage VC fund, Equirus InnovateX Fund, at ₹166 Cr. It aims to back up to 15 startups operating in sectors like SaaS, deeptech, fintech, among others
Other Developments Of The Week
AI cloud infrastructure startup Neysa entered into a definitive agreement with Blackstone and others, for a $600 Mn equity funding and a separate $600 Mn raise through debt financing. This took the total size of round to $1.2 Bn.
LetsVenture-backed startup Klassroom filed its DRHP with the BSE for an SME IPO. The public issue will comprise a fresh issue of up to 19.89 Lakh equity shares and an offer-for-sale (OFS) component of up to 4.66 Lakh equity shares.
Listed OTA Easemytrip is planning to undertake a fresh fund raise of up to ₹500 Cr to expand its presence across non-core segments. The fundraise is expected to happen over multiple tranches, and will include modes like rights issue, QIP, preferential issue or private placement.
General Catalyst announced plans to invest $5 Bn in Indian startups over the next five years. It will look to invest in startups across AI, healthcare, defence tech, fintech, and consumer technology over the coming years
American computing giant Qualcomm announced plans to invest $150 Mn in Indian startups through its investment arm, Qualcomm Ventures. It will target investments in startups that are building AI solutions for use in automotive, IoT, robotics, and mobile sectors.
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