Weekly Wrap: Third Wave Coffee Leads Funding with USD 42.6 Mn Raise; One Tech IPO Recorded

India’s startup funding landscape recorded USD 163.3 million across 14 equity rounds during August 21–27, compared to USD 337.8 million across 14 rounds in the previous week, a decline of 51.65%, according to the latest Tracxn data. Funding was up 40.43% compared to the week before that, which saw USD 116.3 million raised across 11 rounds.

The week’s funding activity was largely driven by late-stage funding, which accounted for USD 87.1 million, while early-stage companies raised USD 59.7 million and seed-stage startups raised USD 16.5 million. The week also witnessed one tech IPO and two acquisitions.

TOP FUNDING DEALS

1. Third Wave Coffee
Third Wave Coffee is an internet-first brand of roasted coffee beans, coffee bags, and cold brew. Founded in 2016 and headquartered in Bengaluru, the company raised USD 42.6 million in a Series D round led by WestBridge Capital, with participation from Creaegis, making it the largest funding deal recorded during the week.

• Inception: 2016
• Headquartered: Bengaluru
• Funding Amount: USD 42.6 million
• Lead Investor: WestBridge Capital

2. Airbound
Airbound develops autonomous delivery drones and AI-powered logistics systems. Founded in 2020 and headquartered in Bengaluru, the company raised USD 37 million in a Series A round led by Greenoaks, with participation from DoorDash, Lightspeed Venture Partners, Humba Ventures, and angel investor Lachy Groom.

• Inception: 2020
• Headquartered: Bengaluru
• Funding Amount: USD 37 million
• Lead Investor: Greenoaks

3. MATTER
MATTER develops geared electric motorcycles and EV energy solutions. Founded in 2019 and headquartered in Ahmedabad, the company raised USD 25 million in a Series C round from Helena, Capital 2B, Japan Airlines and Translink Innovation Fund, and SMSC.

• Inception: 2019
• Headquartered: Ahmedabad
• Funding Amount: USD 25 million
• Investors: Helena, Capital 2B, Japan Airlines and Translink Innovation Fund, SMSC

4. Battery Smart
Battery Smart operates battery-swapping chains for electric two- and three-wheelers. Founded in 2019 and headquartered in Delhi, the company raised USD 19.5 million in a Series C round led by Rising Tide, with participation from Ecosystem Integrity Fund and Blume Venture.

• Inception: 2019
• Headquartered: Delhi
• Funding Amount: USD 19.5 million
• Lead Investor: Rising Tide

5. InspeCity
InspeCity develops technologies for extending satellite lifespan and reducing space debris. Founded in 2022 and headquartered in Thane, the company raised USD 10.5 million in a Seed round led by Speciale Invest and Ashish Kacholia, with participation from Antler, Shastra, and angel investor Manish Gandhi.

• Inception: 2022
• Headquartered: Thane
• Funding Amount: USD 10.5 million
• Lead Investors: Speciale Invest, Ashish Kacholia

6. Trucksup
Trucksup offers trucking business management solutions for truck owners and operators. Founded in 2022 and headquartered in Gurugram, the company raised USD 8.2 million in a Series A round.

• Inception: 2022
• Headquartered: Gurugram
• Funding Amount: USD 8.2 million

7. GreenJoules
GreenJoules produces biofuels from waste. Founded in 2018 and headquartered in Pune, the company raised USD 6.5 million in a Series B round led by Amazon, with participation from Singularity AMC.

• Inception: 2018
• Headquartered: Pune
• Funding Amount: USD 6.5 million
• Lead Investor: Amazon

8. CURAA
CURAA provides multi-category home kitchen appliances and solutions. Founded in 2025 and headquartered in Mumbai, the company raised USD 4.2 million in a Series A round led by 3one4 Capital, with participation from Kae Capital, Lumikai, and Better Capital.

• Inception: 2025
• Headquartered: Mumbai
• Funding Amount: USD 4.2 million
• Lead Investor: 3one4 Capital

9. UtsavApp
UtsavApp provides remote ritual performance services and religious offering delivery. Founded in 2020 and headquartered in Kolkata, the company raised USD 3.8 million in a Series A round led by Atomic Capital, with participation from India Quotient and Equanimity Investments.

• Inception: 2020
• Headquartered: Kolkata
• Funding Amount: USD 3.8 million
• Lead Investor: Atomic Capital

10. Water Robots
Water Robots provides adaptive sleep system technology, integrating AI and robotics into smart furniture solutions. Founded in 2023 and headquartered in Dover, the company raised USD 2.5 million in a Seed round led by Endiya Partners, with participation from angel investors Pullela Gopichand, Rohit Chennamaneni, and Nandan Reddy.

• Inception: 2023
• Headquartered: Dover
• Funding Amount: USD 2.5 million
• Lead Investor: Endiya Partners

IPO Activity

The IPO market recorded one tech listing during the week.

1. ENS: Founded in 2016 and headquartered in Noida, ENS provides application development and digital marketing services. The company listed on August 21, 2026, with a market capitalization of approximately USD 13.1 million at IPO.

M&A Activity

Merger and acquisition activity picked up during the week, with two acquisitions recorded between August 21 and August 27.

1. C2I Semiconductors: Founded in 2024 and headquartered in Bengaluru, C2I Semiconductors develops power management integrated circuits, including mixed-signal analog and embedded CPU-based digital power ICs. The company was acquired by Infineon on August 24, 2026, for an undisclosed amount.
2. Digital Benchers: Founded in 2024 and headquartered in Delhi, Digital Benchers operates an online platform for educational courses and training materials. The company was acquired by Infonative Solutions on August 22, 2026, for an undisclosed amount.

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