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Startups and VC
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Market check
Developing5 storylines
Startups and VC in three lines
- XED Executive Development is seeking $10 million through a private placement as its GIFT City IPO awaits lift-off
- Deeptech startups are seeking procurement reforms to improve access to government contracts and growth opportunities
- Black Forest Labs’ head says Europe needs more optimism about AI or risks falling further behind
2124 Sept
2925 Sept
1826 Sept
1027 Sept
428 Sept
IPO● mixedIndia’s logistics & mobility startups warm up to IPOs as investor interest gathers pacePorter, Mahindra Last Mile and Rapido are exploring public-market listingsMahindra & MahindraRapidoShipping and logistics
Funding and debt● mixedRich turn to borrowing against private equity holdings as payouts slowWealthy individuals are borrowing against private equity holdings as payouts slowPrivate banksNuvama Wealth ManagementBlackRock
IPO● mixedThree SME IPOs set to list today: Robokidz, FX Multitech, Vivekanand Cotspin in focusThree SME IPOs sought to raise around Rs 98.53 croreStartup fundingListing rules
Funding and debt● mixedXED Executive Development takes private route as GIFT City IPO dream awaits lift-offMumbai-based XED Executive Development is seeking $10 million through a private placementListing rulesStock exchanges
Policy▲ bullishDeeptech startups seek easier route to government contractsDeeptech startups are seeking procurement reforms to improve access to government contracts and growth opportunities
● mixedAI startup Black Forest Labs urges optimism from Europe despite safety fearsBlack Forest Labs’ head says Europe needs more optimism about AI or risks falling further behindAIAI labs
IPO▲ bullishIndian Startup IPO Tracker 202618 Indian startups listed on the bourses in 2025Stock exchangesListing rulesStartup funding
IPO● mixedETMarkets NRI Talk| Want to invest in US IPOs? Ankita Pathak on what Indian investors need to knowIndian investors can participate in US IPOs, including Anthropic, under the Liberalised Remittance SchemeAnthropicRetailGlobal markets
IPO● mixedIPO Mania: 20 Issues To Hit The D-Street In A Single Week — Check Full List20 IPOs across mainboard and SME segments open this weekNSEStock exchangesSmall and midcaps
Funding and debt● mixedPrime Focus AI venture Brahma AI reaches $2 billion valuation with ₹1,437 crore fund raisePrime FocusAIStartup funding
IPO● mixedBig dreams and tiny revenue are the new norm for AI IPOsAI IPOs are marked by ambitious plans and tiny revenueAIMarket valuationsAI chips
Deal● mixedWOI India acquires SwiftSeed Ventures and names Amar Dixit CEOSwiftSeed’s founder-investor community will join WOI India’s entrepreneurship ecosystem
IPO▼ bearishNew-age IPOs: Five years on, still show-me storiesInvestors pay ₹260 for every ₹1 of profit earned by new-age IPO firmsMarket valuationsStartup fundingNSE
Policy● mixedFM Nirmala Sitharaman sets 10%+ growth target, pushes back against suggestion on ‘missed AI bus’Nirmala Sitharaman set a growth target of 10%+Nirmala SitharamanEconomic growthStartup funding
IPO▼ bearishSME IPO market revives, but listing gains lose sheenAbout 43 companies raised ₹1,702 crore in SeptemberSmall and midcapsMarket valuationsStartup funding
● mixedSitharaman says India could achieve economic growth above 10%Sitharaman said growth above 10% is possibleNirmala SitharamanEconomic growthGDP
● mixedFY26 Financial Tracker: Tracking The Financial Performance Of Indian Startups22 new-age tech companies made their public market debut in FY26Market valuations
Funding and debt● mixedAequs To Raise ₹650 Cr Via Preferential Issue To Bolster Manufacturing CapacityAequs approved a preferential issue to raise up to ₹650 croreAequsManufacturingStartup funding
Funding and debt● mixedIIT Madras–Unicorn India fund raises ₹450 crore at first closeThe fund has a ₹1,000 crore target and aims for final close by December 2026Startup fundingIIT Madras
Deal● mixedMonzo discusses sale to Nubank at about £10 billion valuationMonzo is in talks with Brazil’s Nubank about a saleFintech and paymentsUnited Kingdom
● mixedMoneycontrol Startup Conclave: AI valuations are definitely overstated, says PhonePe CEO Sameer Nigam on AI hypePhonePeAIMarket valuations
Expansion● mixedMoneycontrol Startup Conclave: Rapido looks beyond ride-hailing, sees big opportunity in food delivery, says CEO Aravind SankaRapidoFood deliveryE-commerce
● mixedMoneycontrol Startup Conclave: AI safety concerns growing as models get smarter, says Emergent's Mukund JhaAIAI labsSaugata Bhattacharya
● mixedStartup Conclave 2026 Live: Immediate consequence of AI is usage of it by rogue players, says Sarvam co-founderSarvam AIAIAI labs
Funding and debt● mixedWeekly Funding Roundup: The startup deals you may have missed in the week of September 27Startup funding
Deal● mixedApax nears deal to buy Warburg Pincus out of €6.5bn telecoms group OdidoApax is nearing a deal to buy Warburg Pincus out of €6.5bn telecoms group OdidoTelecom
Funding and debt● mixedFrom Ultraviolette Automotive To GalaxEye — Indian Startups Raised Over $203 Mn This WeekStartups raised a combined $203.4 Mn across 21 dealsStartup fundingAutosGalaxEye
Policy● mixedIndia to consult industry on trade secrets law, whistleblower safeguards and contract enforcementIndia will soon consult industry and startups on whistleblower safeguards, contract enforcement and complianceTrade and tariffs
IPO● mixedVirtual pharma API firm HRV preparing for IPO, DRHP likely in H1 of 2027: SourcesHRV Pharma is preparing for an IPO, with a draft prospectus likely in H1 2027Pharma and healthcareListing rules
Leadership● mixedBlackstone private-equity chief Joseph Baratta prepares to leave after nearly three decadesJoseph Baratta is preparing to leave Blackstone after almost three decadesBlackstone
Funding and debt● mixedETtech Deals Digest: Ultraviolette leads weekly startup funding of $110 millionStartup funding
Legal● mixedFlorida Railroad Brightline Files for Bankruptcy to Cut Heavy Debt BurdenBrightline filed for Chapter 11 bankruptcy to reduce its heavy debt burdenInsolvency and defaultsRailways
Funding and debt● mixedRunwal Enterprises, German Green Steel and Power raise ₹149 crore, ₹91 crore from anchor investorsRunwal Enterprises raised ₹149 crore from anchor investorsRunwal EnterprisesOrient CablesSteel
Funding and debt● mixedGalaxEye Gets ₹63.8 Cr RDI Support For Multisensor Satellite TechGalaxEye secured ₹63.84 Cr in support under the Centre’s RDI FundGalaxEyeStartup funding
Funding and debt● mixedWhat is OpenEvidence, the ‘ChatGPT for doctors’ valued at $15 billion in a new funding round?OpenEvidence was valued at $15 billion in a new funding roundStartup fundingAI
IPO● mixedTrue North acquires minority stake in IPO-bound InMobi for $50–60 millionTrue North acquired a minority stake worth around $50–60 million in InMobiStartup fundingMarket valuations
Funding and debt● mixedDextr AI raises $6.7 million in seed funding led by Elevation CapitalThe hospitality-focused AI startup raised $6.7 million, about ₹64.2 croreHotels and travelStartup fundingAI
Funding and debt● mixedRivet Bags $10.5 Mn From Peak XV, Others To Scale Dating Platform In USRivet raised $10.5 Mn (about ₹100.6 Cr) in seed fundingStartup funding
Funding and debt● mixedHow Astrobase Is Building The Base For Tomorrow’s Medium-Lift RocketsThree spacetech startups were selected as the first cohort to receive funds in June 2026Startup funding
Funding and debt● mixedBengaluru tech startups raise $4.4 billion, outpace 5 rival cities combinedBengaluruStartup funding
Funding and debt● mixedExclusive: CodeKarma In Talks To Raise $6 Mn From Prosus, AccelEnterprise tech startup CodeKarma is in talks to raise $5 Mn to $6 MnStartup fundingProsus
IPO● mixedOmara Ventures India Files RHP Ahead of ₹41.99 Crore IPO on September 30, 2026Omara Ventures India filed its RHP ahead of a ₹41.99 crore IPOListing rulesMarket valuations
IPO● mixedAcevector IPO: Analysts assign 'avoid' tag amid stiff competition, lossesAcevector IPO price band is ₹30 to ₹32 per share; minimum lot is 468 sharesAceVectorMarket valuationsRetail
● mixedInside the deal engine room: VCs and PEs make the case for ERP as a governance variableVCs and PE investors argued that ERP and AI adoption, data governance, and cybersecurity matter in company assessmentsAIStartup fundingIT demand
IPO● mixedBrookfield-backed Avaada Electro starts roadshows for $793 million India IPO, sources sayMarket valuationsStartup fundingAvaada Electro
● mixedIndia’s semiconductor ecosystem may see gradual value creation over 3–5 yearsSemiconductorsChip plantsElectronics manufacturing
Funding and debt● mixedLightspeed targets $250M for new India fund, focusing on early-stage AIAIStartup funding
Funding and debt● mixedSolara in talks to raise $20-25 million led by Faering CapitalSolara is seeking $20–25 million in its first institutional funding round, led by Faering CapitalStartup fundingE-commerceNavitas Solar
IPO● mixedAcevector IPO: Can this marketplace player create value?AceVectorMarket valuationsStartup funding
Deal● mixedLegal advisers on private capital deals pick up the paceClients are seeking ways to ease access to locked-up investmentsStockbrokers
IPO● mixedNSE targets 250 SME IPOs a year, works with states to incentivise listingsNSEStock exchangesListing rules
Policy▲ bullishCentre considers ₹15,000–20,000 crore fund for frontier AI and computeThe Centre is considering an anchor investment of ₹15,000 crore to ₹20,000 croreAIStartup fundingData centres
Expansion● mixedChip startup Mythic AI enters India, eyes data centre, robotics opportunitiesSemiconductorsAI chipsData centres
IPO● mixedAnthropic seeks 50.1% voting control for co-founders ahead of IPOCEO Dario Amodei and six co-founders would hold 50.1% voting powerAnthropicAI labsAI
Deal● mixedSomeone was trying to sell Ondo Finance after founder Nathan Allman's deathOndo Finance denied that it was shopping for buyers after founder Nathan Allman's deathOndo Finance
Deal▼ bearishTPG Exits FirstCry With ₹202 Cr Bulk DealTPG exited FirstCry through a ₹202 Cr bulk dealBrainbees SolutionsFII flows