After weeks of fluctuating investor sentiment, India’s startup ecosystem has made a thunderous comeback. Between June 9 and 14, homegrown startups raised a staggering $567.5 Mn across 19 deals, marking a 322% jump from the previous week’s total of $134.4 Mn. The dramatic resurgence was led by major fintech and ecommerce players, while IPO ambitions and acquisition activity added further excitement to the ecosystem.
Let’s take a closer look at the week that turned the tide.
Fintech Dominates with Mega-Rounds
At the heart of this week’s funding momentum was fintech, which attracted $339.7 Mn across six deals, making it the most active sector.
Topping the chart was Groww, the Bengaluru-based investment platform, which secured a $202.3 Mn Series F round from marquee investors like GIC and ICONIQ Capital. This was followed by CRED, which raised $72 Mn in Series G funding from Lathe Investment and others, underlining investor faith in consumer payments platforms.
FlexiLoans, a digital lender catering to MSMEs, also stood out with $43.8 Mn in its extended Series C round led by Nuveen and British International Investment. The sector saw further activity from PowerUp Money and Refyne, proving fintech is far from cooling down.
Ecommerce Follows Suit: Spinny and Kisah Apparels Lead
Ecommerce emerged as the second most funded sector, thanks primarily to a major boost from Spinny, the used-car marketplace unicorn. Spinny raised $170 Mn in a Series F round, led by Accel Leaders Fund and WestBridge Capital.
Other notable ecommerce deals included Kisah Apparels ($1.5 Mn) and Iom Bioworks ($465K), showcasing investor interest in D2C brands. Together, ecommerce startups raised $172 Mn, cementing the sector’s resilience amid shifting consumer trends.
Early-Stage Startups in the Spotlight
This week also saw seed-stage startups enjoy their moment. Seven companies raised $14.1 Mn, a healthy 83% increase over the previous week’s $7.7 Mn.
Among them were:
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Flick TV, an OTT content startup, bagging $2.3 Mn from Stellaris and Titan Capital.
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Repello AI, a deep-tech player, raising $1.2 Mn from Venture Highway and pi Ventures.
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Roomstory.ai and PlutoPe, operating in hyperlocal services and Web3 respectively, secured early funding too.
This early-stage enthusiasm indicates a healthy risk appetite among VCs for emerging tech sectors.
IPO Activity Heats Up
Beyond funding, the past week saw remarkable IPO-related action:
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ArisInfra, backed by PharmEasy, filed its ₹500 Cr RHP, aiming to list soon.
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Meesho officially became a public entity, signaling its DRHP is on the way.
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Wakefit, known for home furniture and mattresses, also transitioned into a public company ahead of its ₹2,000 Cr IPO.
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Pine Labs, the fintech unicorn, is expected to file its DRHP by end of June.
With a slew of tech and consumer startups preparing for public listings, the second half of 2025 could mark a historic IPO season for India.
Consolidation and Strategic Acquisitions
M&A activity also saw a boost this week:
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Nazara completed its acquisition of Curve Games for ₹247 Cr, strengthening its global gaming portfolio.
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Creative agency Imagined Studio was acquired by WLDD in an all-cash deal.
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BRND.ME (formerly Mensa Brands) sold India Lifestyle Network to the RPSG Group.
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ICRA acquired risk-tech firm Fintellix, expanding its enterprise offerings.
Other Notable Developments
Outside of direct funding:
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Infibeam is raising ₹700 Cr through a rights issue to fund AI and tech ventures.
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GIVA is raising ₹450 Cr at a $374 Mn valuation, up nearly 50%.
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Rapido is in talks to raise $15 Mn for its food delivery vertical Ownly.
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EV charging startup Kazam is close to finalizing a $6 Mn round led by Vertex Ventures.
Conclusion: Momentum Returns with a Bang
The Indian startup ecosystem has re-entered growth mode with decisive momentum. With big-ticket deals, strong seed-stage activity, and IPO preparations in full swing, June has become a landmark month in 2025. The coming weeks could bring even more action as more companies eye the public markets and late-stage investors seek stronger exposure to India’s innovation economy.
