Indian Startups Raised $243 Mn Across 25 Deals This Week

Indian startups raised $243 Mn across 25 deals in the week ending June 13, 2026, a continuation of the recovery that lifted the first week of June to $187.4 Mn. The week’s biggest single check went to a 14-year-old biofuels company, and a Japanese conglomerate wrote the lead term sheet.

GPS Renewables, a Bengaluru-based clean fuels startup, took $66.4 Mn in a Series C led by Tokyo’s Sojitz Corporation. Equal AI closed a $30 Mn Series B the same week, Ethereal Machines raised $28.5 Mn, and Exponent Energy added $21.1 Mn. The dollar total is small by global standards and large by the standard India set in May, when weekly funding fell to $52 Mn.

GPS Renewables Drew the Largest Check, and a Japanese Lead

GPS Renewables raised $66.4 Mn in a Series C funding round, the largest single check of the week. Japan’s Sojitz Corporation led the round, investing ₹310 Cr, with PixelSky Capital putting in ₹125 Cr, the Spectrum Impact family office also participating, and an undisclosed Korean conglomerate making up the balance. The funding was structured across three tranches, per the $66.4 Mn Series C and Sojitz tranche breakdown.

The deal gives Sojitz, a Japanese trading and investment conglomerate, the lead seat of the largest Indian cleantech round of the week. The round follows a separate $50 Mn debt financing round GPS Renewables raised in 2024 from a clutch of banks and NBFCs, and the fresh equity extends the company’s runway to build out compressed biogas (CBG) and sustainable aviation fuel (SAF) projects.

GPS Renewables claims 30 operational or near-complete projects and annual revenue of about ₹1,000 Cr. The startup recently secured an engineering, procurement and construction contract from NTPC for India’s first ethanol-to-jet sustainable aviation fuel plant, and runs joint ventures with Indian Oil Corporation and Bharat Petroleum Corporation Limited for CBG infrastructure. A significant portion of the new capital will move to GPSR Arya, the company’s project development platform, to accelerate a pipeline of CBG and SAF projects across India. Asia’s largest municipal solid waste-based CBG plant, in Indore, sits among the company’s flagship projects.

This capital enhances our execution capabilities, and positions us well to deliver on a growing portfolio of projects. As India accelerates its transition towards cleaner fuels, we remain committed to building the infrastructure required to support that transformation.

That was Mainak Chakraborty, cofounder of GPS Renewables, in the Inc42 report on the deal.

Three Big Series Bs Added $80 Mn

Three Series B rounds accounted for roughly $80 Mn of the week’s $243 Mn total. Equal AI, a consumer voice AI startup, raised $30 Mn in a round co-led by existing investors Prosus Ventures and Tomales Bay Capital, with participation from PhonePe’s Sameer Nigam, Airtel Family Office’s Zubin Bharti Mittal, Skyflow AI’s Anshu Sharma, Meta’s Sandhya Devanathan, CtrlS Datacenters’ Sridhar Pinnapureddy, Think Investments, and Valiant Fund. Ethereal Machines, a deeptech precision manufacturing startup, raised $28.5 Mn in a Series B led by Avataar Ventures with participation from existing investor Peak XV Partners. Exponent Energy, an EV charging startup, raised $21.1 Mn in a round co-led by 360 ONE Asset and TDK Ventures.

The three companies point in three different directions. Equal AI runs an AI call assistant that screens phone calls for users, as covered in Equal AI’s call-screening product and $30 Mn round. Ethereal Machines, founded in 2014, is a deeptech manufacturer with an installed CNC factory in Bengaluru, and the new capital will fund a 3 lakh square foot mega-factory near the city and an indigenous multi-axis CNC controller, per the Ethereal Machines’ CNC mega-factory and Series B. Exponent Energy focuses on 15-minute rapid EV charging and operates across buses, cars, and last-mile delivery.

The three rounds cluster around a similar size band, but the company profiles are widely different. Equal AI is a consumer voice platform, and the round was co-led by existing investors Prosus Ventures and Tomales Bay Capital. Ethereal Machines, founded in 2014, is a deeptech manufacturer with an installed CNC factory in Bengaluru, and the new capital will fund a 3 lakh square foot mega-factory near the city and what the company calls India’s first indigenous multi-axis CNC controller. Exponent Energy focuses on 15-minute rapid EV charging and operates across buses, cars, and last-mile delivery.

Peak XV Surfaced Three Times in One Week

Peak XV Partners, the India- and Southeast Asia-focused venture firm formerly known as Sequoia Capital India, anchored three deals in the same week. The firm led BazaarNow’s $7.5 Mn quick commerce round for tier 2 and tier 3 cities, co-led Hoola Health’s $5 Mn in-clinic healthcare round through its Surge programme, and participated in Ethereal Machines’ $28.5 Mn deeptech Series B. The three deals span quick commerce, healthcare, and deeptech, with $7.5 Mn, $5 Mn, and $28.5 Mn cheques respectively.

BazaarNow is building quick commerce for Indian cities that most metropolitan-focused players have left alone. Hoola Health operates in-clinic healthcare services, with backing from W Health Ventures and a roster of individual investors. Ethereal Machines builds high-precision CNC machines for aerospace, defence, and semiconductor customers. The three companies share one underwriter, and the cross-sector spread shows how a single fund can show up in an entire weekly roundup without overlap.

Peak XV’s surge activity sits inside a wider recovery. The first week of June saw $187.4 Mn raised across 21 deals, a 260% week-on-week jump from the prior week, per Inc42’s earlier roundup. Peak XV was a visible thread in both weeks, and the firm’s involvement spans quick commerce, healthcare, and deeptech across the two weekly tallies.

A Long Tail of Seed and Pre-Series A Rounds

The week’s smallest deal closed at $100,000. Dartle, a consumer services startup, raised the seed round from Inflection Point Ventures. Biodimension, a healthtech lifesciences startup, raised $841K from Indian Angel Network and Campus Angels Network. Dream Aerospace, a spacetech startup, raised $1.2 Mn in a Pre-Series A round from 247VC and the Chandigarh Angels Network. Integra Robotics, a defence tech startup, raised $1.1 Mn in a Pre-Series A from Finvolve and India Accelerator.

Maritime robotics appeared twice in the small-deal tail. Rekise Marine raised $9.7 Mn in a seed round co-led by Accel and Nikhil Kamath’s NKSquared to fund Jalkapi, an 11-metre extra-large autonomous underwater vessel designed for missions lasting up to 45 days, per the Rekise Marine’s seed round and Jalkapi vessel. Clear Robotics, a separate maritime tech startup, raised $1.8 Mn in a Pre-Series A round from ShipsFocus Ventures, Katapult Ocean, SGInnovate, and M7 Holdings. Both companies build autonomous surface and underwater vessels, but they sit at opposite ends of the cheque-size spectrum.

Even cricketers and undisclosed rounds rounded out the week. Fittr, a consumer services startup, raised an undisclosed round from cricketer Rohit Sharma. Fold, a fintech investment tech startup, raised an undisclosed round from Rainmatter, Zerodha’s investment arm. QubeHealth-Pay, a fintech lending tech startup, closed a Series A from Unicorn India Ventures and a roster of co-investors. Manam Chocolate, a Hyderabad-based premium craft chocolate brand, raised $9 Mn in a Series A led by Omnivore and the Turner Morrison consortium.

• $100K seed: Dartle, Inflection Point Ventures
• $841K: Biodimension, Indian Angel Network, Campus Angels Network
• $1 Mn: Trevel, India Accelerator, Finvolve, Haldiram Family Office
• $1.1 Mn Pre-Series A: Integra Robotics, Finvolve
• $1.2 Mn Pre-Series A: Dream Aerospace, 247VC
• $1.8 Mn Pre-Series A: Clear Robotics, ShipsFocus Ventures, Katapult Ocean
• $2.2 Mn seed: HyperNorm AI, Capital 2B, SenseAI Ventures
• $2.8 Mn seed: The Wedding Company, Wellingdon Advisors LLP
• $3.6 Mn Series A: Uni Seoul, Riverwalk Holdings, Sauce.vc

A $243 Mn Week Against a Concentrating Market

India’s $243 Mn week looks like a return to normalcy after May ended with a $52 Mn low. Inc42’s first-week-of-June tally came in at $187.4 Mn across 21 deals, a 260% week-on-week jump from the prior week, per the report. The recovery is real, but the dollar size is still small by global standards.

The broader venture market has been concentrating. In the first quarter of 2026, AI companies as a group took the lion’s share of every global venture dollar, with a handful of mega-rounds (OpenAI, Anthropic, xAI, and Waymo, among others) together accounting for a majority of all capital deployed that quarter. Only three of the week’s 25+ Indian deals were AI-tagged (Equal AI, Rivvun AI, and HyperNorm AI), and together they raised less than $40 Mn. The rest of the money went into cleantech, deeptech, real estate, quick commerce, food, and health, a mix that looks closer to a pre-AI-cycle funding pattern than a follow-the-leader concentration.

Capital spread across at least eight sectors this week, and the cheque-size range ran from $100K seed rounds to a $66.4 Mn Series C. For a market outside the AI gravity well, that is closer to a normal week than the global headlines suggest, a point the AI boom leaves pre-ChatGPT startups in a funding drought analysis expands on.

Frequently Asked Questions

How much did Indian startups raise in the week of June 8 to 12, 2026?

Inc42’s weekly roundup counted $243 Mn raised across 25 Indian startup deals in the week ending June 13, 2026. GPS Renewables’ $66.4 Mn Series C, led by Tokyo’s Sojitz Corporation, was the largest single deal of the week. Equal AI, Ethereal Machines, MyGate, and Exponent Energy each pulled in $20 Mn or more.

Who led the largest Indian startup funding round of the week?

Sojitz Corporation took the lead seat on GPS Renewables’ Series C with a ₹310 Cr cheque, with PixelSky Capital, the Spectrum Impact family office, and an undisclosed Korean conglomerate filling out the rest of the round. The funding was structured across three tranches. A significant portion of the capital will flow to GPSR Arya, the company’s project development platform, to accelerate compressed biogas and sustainable aviation fuel projects.

Which venture firm was busiest in Indian startup funding this week?

Peak XV Partners was the most active venture firm of the week, showing up as lead in BazaarNow’s $7.5 Mn quick commerce round, as co-lead via its Surge programme in Hoola Health’s $5 Mn healthcare round, and as a participant in Ethereal Machines’ $28.5 Mn Series B. The three deals span quick commerce, healthcare, and deeptech. Peak XV also surfaced in the prior week, when $187.4 Mn was raised across 21 deals.

What sectors did the week’s Indian startup funding span?

The week’s $243 Mn spanned at least eight sectors including cleantech, AI, deeptech manufacturing, EV charging, quick commerce, real estate tech, foodtech, and healthtech. Cleantech was the biggest dollar bucket, anchored by GPS Renewables’ $66.4 Mn and Exponent Energy’s $21.1 Mn rounds. Equal AI’s $30 Mn Series B led the AI thread, with two smaller AI rounds (Rivvun AI, HyperNorm AI) adding to the total.

How does this week compare to global venture funding?

The week’s $243 Mn is small relative to the global venture market. In the first quarter of 2026, a handful of mega-rounds (OpenAI, Anthropic, xAI, and Waymo, among others) together took a majority of all capital deployed worldwide, and AI companies as a group took the lion’s share of every venture dollar. India’s funding breadth this week, spanning cleantech, deeptech, real estate, food, and more, is closer to a pre-AI-cycle pattern than a follow-the-leader concentration.