The Indian startup ecosystem witnessed a dynamic week, securing $133 Mn in funding across sectors such as EV, consumer brands, fintech, and AI. The surge in capital inflow was complemented by major developments in venture capital fundraising and robust IPO activity, highlighting investor confidence despite global macro uncertainties.
Among the top updates, Nexus Venture Partners closed its $700 Mn Fund VIII, aimed at backing early stage startups in AI, enterprise tech, fintech, and consumer services. Adding to the momentum, Aakrit Vaish, former Haptik cofounder, joined ex Together Fund partner Pratyush Choudhary to launch Activate, an AI-focused VC fund targeting early stage AI native companies. Meanwhile, Fireside Ventures marked the final close of its INR 2,265 Cr Fund IV, dedicated to supporting 30–35 emerging consumer brands with cheque sizes ranging from $1 Mn to $12 Mn.
On the IPO front, market enthusiasm remained strong. Meesho’s IPO recorded a massive 79.03X oversubscription, receiving bids for 2,196.7 Cr shares. Similarly, aerospace manufacturer Aequs saw an impressive 101.63X oversubscription. Furniture D2C brand Wakefit filed its RHP for an IPO comprising a fresh issue of INR 377.2 Cr and an OFS of up to 4.68 Cr shares, with listing expected on December 15. Additionally, Atomberg Technologies, backed by Temasek, began groundwork for a $200 Mn IPO, engaging with investment banks for advisory.
Other notable developments included InMobi founders repurchasing 25–30% shares from SoftBank, reducing the investor’s stake below 8%. Credlix acquired a two-thirds stake in Vanik for INR 80 Cr, positioning itself as a full fledged NBFC. Following its acquisition of Rio.Money, Zaggle announced an INR 75 Cr investment to scale payment and credit card operations. Meanwhile, Reliance Industries initiated early steps towards a potential Jio Infocomm IPO, holding informal discussions with bankers.
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