Weekly Wrap: Jio Credit Leads Funding Surge with USD 1.91 Bn Raise; Two Tech IPOs Recorded

India’s startup funding landscape recorded USD 2.03 billion across 11 equity rounds during August 7–13, compared to USD 262.1 million across 17 rounds in the previous week, according to the latest Tracxn data.

The week’s funding activity was overwhelmingly driven by late-stage funding, which accounted for USD 1.98 billion, while early-stage companies raised USD 51.4 million and seed-stage startups raised USD 3.2 million. The week also witnessed two tech IPOs and no acquisitions.

TOP FUNDING DEALS

1. Jio Credit

Jio Credit, a provider of a suite of financial solutions, raised USD 1.91 billion in a Series D round. Founded in 2000 and headquartered in Mumbai, the company’s funding round included Bank of America as an institutional investor, making it the largest funding deal recorded during the week.

Inception: 2000
Headquartered: Mumbai
Funding Amount: USD 1.91 billion
Investor: Bank of America

2. Yulu

Yulu operates a shared electric two-wheeler rental platform. Founded in 2017 and headquartered in Bengaluru, the company raised USD 63 million in a Series C round led by GEF Capital Partners. The funding makes Yulu the second-largest funding deal of the week.

Inception: 2017
Headquartered: Bengaluru
Funding Amount: USD 63 million
Lead Investor: GEF Capital Partners

3. Centricity

Centricity operates a digital private wealth management platform for individuals. Founded in 2022 and headquartered in Gurugram, the company raised USD 24.1 million in a Series A round led by SMBC Asia Rising Fund, with participation from Lightspeed, Burman Family, RAAY Global Investments, Stride Ventures and Innoven Capital.

Inception: 2022
Headquartered: Gurugram
Funding Amount: USD 24.1 million
Lead Investor: SMBC Asia Rising Fund

4. BlissClub

BlissClub is an internet-first brand offering sportswear for women. Founded in 2020 and headquartered in Bengaluru, the company raised USD 16.8 million in a Series A round led by Singularity AMC, with participation from Elevation Capital and Eight Roads Ventures.

Inception: 2020
Headquartered: Bengaluru
Funding Amount: USD 16.8 million
Lead Investor: Singularity AMC

5. Bakingo

Bakingo operates an online retail platform for cakes, desserts, pastries and bakery gift hampers. Founded in 2016 and headquartered in Gurugram, the company raised USD 10.5 million in a Series B round from Faering Capital.

Inception: 2016
Headquartered: Gurugram
Funding Amount: USD 10.5 million
Investor: Faering Capital

6. Ayati Devices

Ayati Devices manufactures diagnostic equipment for assessing diabetic foot health conditions. Founded in 2019 and headquartered in Bengaluru, the company raised USD 1.57 million in a seed round led by Inflexor.

Inception: 2019
Headquartered: Bengaluru
Funding Amount: USD 1.57 million
Lead Investor: Inflexor

7. Lane

Lane is a tech-enabled driving school offering structured and personalised driving lessons along with licence assistance. Founded in 2024 and headquartered in Bengaluru, the company raised USD 891,000 in a seed round led by Kae Capital, with participation from DeVC, Antler and Panthera Peak.

Inception: 2024
Headquartered: Bengaluru
Funding Amount: USD 891,000
Lead Investor: Kae Capital

8. FreightFox

FreightFox provides software for managing freight procurement, execution and settlement. Founded in 2020 and headquartered in Bengaluru, the company raised USD 525,000 in a seed round, with Aeravti Ventures, HighLeaf Vijender Yadav and Puru Gupta among the investors.

Inception: 2020
Headquartered: Bengaluru
Funding Amount: USD 525,000
Investors: Aeravti Ventures, HighLeaf Vijender Yadav and Puru Gupta

IPO Activity

The IPO market recorded two tech listings during the week, with Klassroom and Aegeus Technologies becoming the companies that went public during the period.

Klassroom: Founded in 2016 and headquartered in Mumbai, Klassroom provides hybrid online-offline tutoring and coaching services. The company listed on August 7, 2026, with a market capitalization of approximately USD 15.6 million at IPO.

Aegeus Technologies: Founded in 2017 and headquartered in Bengaluru, Aegeus Technologies develops robotic technologies for water-less solar panel cleaning systems. The company listed on August 11, 2026, with a market capitalization of approximately USD 9.2 million at IPO.

Merger & Acquisitions activity remained subdued during the week, with no acquisitions recorded between August 7 and August 13.

*Equity rounds and tech companies have been considered for the roundup.
*Data source: Tracxn