Ride-hailing app Rapido secured $200 million in Series E funding, led by WestBridge Capital. With this investment, Rapido’s valuation hit $1.1 billion. The funds will expand its four-wheeler services, competing with Ola and Uber. Rapido processes 16.5 lakh daily rides, positioning it second after Uber in India.
Swiggy’s operating revenue surged 36% to Rs 11,247 crore in FY24, while reducing its losses by 44% to Rs 2,350 crore. Its food delivery grew 17%, contributing Rs 6,100 crore. The company is preparing for an IPO, aiming to raise up to Rs 3,750 crore.
B2B financial management platform Valyx secured $800K in pre-seed funding co-led by Huddle Ventures and Waveform Ventures. The funds will be used to expand the sales and engineering teams. Founded in late 2023, Valyx automates billing and receivables, processing over Rs 200 crore in accounts receivable to date.
Sports-tech startup Spolto has secured $1 million in a seed round led by Andrew Johnston. Founded in 2021, Spolto aims to enhance sports access in urban India, partnering with 1,200+ coaches and academies across 12 sports. The funds will help scale services and expand its digital presence.
Omnichannel jewelry retailer Bluestone secured ₹600 crore ($72 million) in a funding round led by Prosus, with Steadview, Think Investments, and Pratithi Growth Fund also participating. The funds will support expansion and operations ahead of Bluestone’s planned IPO. The company is now valued at approximately $972 million.
API Holdings, PharmEasy’s parent company, saw its valuation drop to $458 million—a 92% decrease from its $5.6 billion peak in 2021. Investor Janus Henderson slashed its valuation by 91.8%. PharmEasy has been struggling with debt repayment and delayed its IPO plans amid market challenges.
Digital-first fashion brand Theater raised $1.5 million in a pre-Series A round led by Prath Ventures. Funds will fuel growth via new channels, expand offline presence, and enhance design and production. Theater specializes in women’s footwear, bags, and more, aiming to reshape the Indian fashion landscape.
Fabless semiconductor startup BigEndian secured $3 million in a seed round led by Vertex Ventures SEA & India. The funds will enhance engineering, R&D, and operations. Founded in 2024, BigEndian focuses on surveillance chips, with its first SoC expected in 2025. Expansion into the IoT market is planned.
Limassol-based real estate startup Placy secured €1M in Pre-Seed funding led by Zubr Capital. The funds will enhance Placy Pro, a B2B SaaS tool for agencies, and improve Placy’s AI-powered B2C features for property seekers. The tool, currently piloting in Cyprus, aims to expand into Greece, the UAE, and the UK.
AI-based EPC and manufacturing marketplace Mytek Innovations has raised Rs 6 crore in debt funding to fuel expansion. Founded in 2020, Mytek’s platform streamlines project management for contractors, utilizing AI, blockchain, and data analytics. The company plans to extend its services beyond civil and electrical sectors to industries like automotive and textiles.
