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From Neo To Atlys— Indian Startups Raised $228 Mn This Week

Samira Vishwas | March 22, 2026 12:24 PM CST

SUMMARY

Fintech segment overtook ecommerce in terms of sectoral funding trends on the back of Neo Group’s $53.4 Mn and Ecofy’s $42 Mn fund raise this week

Seed funding for the week increased 12% to $12.9 Mn from $11.5 Mn raised last week

Peak XV Partners was the most active investor, backing Atlys, BambooBox and Grapevine this week

Funding momentum across the Indian startup ecosystem continued to remain stable this week amid heightened geopolitical uncertainties shaking up global markets. Twenty one startups raised $228.4 Mn between March 16 and 20, marking a 11% from the $206.5 Mn raised across 22 deals in the previous week.

Funding Galore: Indian Startup Funding Of The Week (Mar 16 — 20)

Date	Name	Sector	Subsector	Business Model	Funding Round Size	Funding Round Type	Investors	Lead Investor
20 Mar 2026	Neo Group	Fintech	Investment Tech	B2B,B2C	$53.4 Mn	–	TVS Capital	TVS Capital
16 Mar 2026	Ecofy	Fintech	Lending Tech	B2B, B2C	$42 Mn	–	British International Investment, Finnfund, FMO, Eversource Capital	British International Investment, Finnfund
16 Mar 2026	Atlys	Travel Tech	Travel Solutions	B2C	$36 Mn	Series C	Susquehanna Asia VC, MakeMyTrip, Elevation Capital, Long Journey Ventures, Peak XV Partners	Susquehanna Asia VC
19 Mar 2026	Persistent	Enterprise Services	–	B2B	$25 Mn	Pre Series B	Bajaj FinServ, Uncor Ventures, Aaruda Technology Fund	Bajaj FinServ
18 Mar 2026	Airline	Logistics	Procurement Services	B2B	$13 Mn	Series A	Pavestone, IndiaMART	Paveston
18 Mar 2026	Burger Singh	Foodtech	QSR	B2C	$8.8 Mn	Series B	Artal Asia, Negen Undiscovered Value Fund, Aurum Rising India Fund	Artal Asia
17 Mar 2026	OfficeBanao	Real Estate Tech	Real Estate Services	B2B	$7.7 Mn	–	Lightspeed, Medra Family	Lightspeed
18 Mar 2026	VerbaFlo	AI	Application Layer	B2B	$7 Mn	Seed	pi Labs, Hatch, Navigate Ventures, Old College Capital	Pi Labs
17 Mar 2026	BambooBox	Enterprise Tech	Horizontal SaaS	B2B	$6.6 Mn	–	Peak XV Partners (Surge), Emergent Ventures, Arc180, Uncor, HAF	Peak XV (Surge)
18 Mar 2026	CometChat	Enterprise Tech	Horizontal SaaS	B2B	$6.5 Mn	–	Run Ventures	Run Ventures
17 Mar 2026	IG Defence	Advanced Hardware & Technology	Defence Tech	B2B	$5 Mn	Pre-Series A	India Accelerator, Finvolve	India Accelerator
16 Mar 2026	Grapevine	Media & Entertainment	Social Media	B2C	$4.1 Mn	–	Kae Capital, Peak XV Partners, Ronnie Screwvala (upGrad)	–
17 Mar 2026	Good man	Advanced Hardware & Technology	Internet Of Things (IoT) & Hardware	B2B	$3.3 Mn	Pre-Series A	pi Ventures, MountTech Growth Fund	pi Ventures
16 Mar 2026	AGNIT Semiconductors	Advanced Hardware & Technology	Semiconductor	B2B	$2.6 Mn**	Seed	Shastra VC, 3one4 Capital, Zephyr Peacock	Shastra VC
17 Mar 2026	DrinkPrime	Ecommerce	D2C	B2C	$2.2 Mn	–	Mirabilis Investment Trust, Artha Continuum Fund	–
19 Mar 2026	Stomach Health	Health Tech	Healthcare Devices	B2C	$2.1 Mn	Seed	Blume Ventures, All In Capital, Inuka Capital, Stanford Angels	Blume Ventures
17 Mar 2026	Canvaloop	Cleantech	Climate Tech	B2B	$1.4 Mn	–	GVFL, Rockstud Capital	GVFL
19 Mar 2026	Rymo Technologies	Health Tech	Medical Equipments	B2B	$1.2 Mn	Seed	IAN Angel Fund	IAN Angel Fund
18 Mar 2026	Curse	Ecommerce	D2C	B2C	$973K	Pre-Seed	V3 Ventures, Saama Capital, Arjun Purkayastha (Reckitt), Manish Taneja (Purplle), Kunal Bahl (AceVector), Aneesh Sheth (Dr. Sheth’s Skincare)	V3 Ventures, Saama Capital
19 Mar 2026	Pink Polka	Ecommerce	D2C	B2C	$479K	Pre-Series A	Inflection Point Ventures	Inflection Point Ventures
17 Mar 2026	Moe Puppy	Ecommerce	D2C	B2C	$214K	Pre-Seed	PedalStart, Zindagi Live Angel Fund	PedalStart
	Source: Inc42 Mix of primary and secondary transactions * Part of a larger round

Key Startup Funding Highlights Of The Week

Fintech segment overtook ecommerce in terms of sectoral funding trends on the back of Neo Group’s $53.4 Mn and Ecofy’s $42 Mn fund raise this week.
Ecommerce saw the highest number of four deals materialise this week, with a total capital infusion of $3.9 Mn.
Seed funding for the week increased 12% to $12.9 Mn from $11.5 Mn raised last week
Peak XV Partners was the most active investor, backing Atlys, BambooBox and Grapevine this week.

Startup IPO Updates This Week

Fund Updates For The Week

Deeptech-focused VC firm Celesta Capital is planning to launch an India-focused VC fund with a target corpus of ₹2,000 Cr, sources told Inc42. The fund will primarily invest in early-stage deeptech startups at Series A and B, with average cheque sizes ranging between $3 Mn and $7 Mn.
Former Peak XV Partners MDs Shailesh Lakhani and Harshjit Sethi have partnered to launch an early-stage VC firm, Ambition Capitalwith a maiden $250 Mn fund.

Other Updates Of The Week

Listed gaming major Nazara is set to acquire 50% stake in Spanish casual gaming studio Bluetile Games and player engagement platform BestPlay Systems for a total consideration of $100.3 Mn.
L’Oreal is reportedly in talks with BPC startup Innovist to buy out a majority stake in the startup. The deal could potentially value the startup in the range of $350-450 Mn.
Tamil Nadu Industrial Development Corporation (TIDCO) plans on investing ₹25 Cr each in spacetech startup Agnikuand electric motorcycle manufacturer Raptee.
KKR has signed a definitive agreement to buy a minority stake in electric bus manufacturer PMI Electro Mobility and a majority stake in its electric bus platform Allfleet for up to $310 Mn.
Cofounder and CEO Gaurav Munjal took to social media platform X today on Sunday to announce that upGrad had signed a term sheet to acquire 100% stake in Unacademy.