Daily Indian Funding Roundup & Key News - 19 October 2026: Even Healthcare Raises $50 Million, Urban Company Clears INR 2,500 Crore Fundraise
Two funding rounds closed on 19 October 2026. Even Healthcare raised $50 million, and Urban Company's board cleared a fundraise of up to INR 2,500 crore.
Two funding rounds closed on 19 October 2026, spanning managed healthcare and premium menswear. Khosla Ventures and Mirae Asset Venture Investments led the day's rounds. The headline raise is Even Healthcare's $50 million Series B round to expand its hospital network in Bengaluru.
Away from funding, Urban Company's board cleared a fundraise of up to INR 2,500 crore as its shares slumped after a wider Q2 loss. Zetwerk's INR 5,012 crore IPO was also fully subscribed on its final day of bidding.
Daily Indian Startup Funding Roundup - 19 October 2026
| Startup | Sector | Funding | Round | Lead Investors |
|---|---|---|---|---|
| Even Healthcare | Managed Healthcare | $50 Mn | Series B | Khosla Ventures |
| The Pant Project | Premium Menswear | ₹109 Cr | Series B | Mirae Asset Venture Investments (India) |
Even Healthcare Raises $50 Million Series B Funding
Even Healthcare raised $50 million, about INR 475 crore, in a Series B round led by existing investor Khosla Ventures, with participation from Alpha Wave. The all-equity round takes its total funding to over $120 million. The money will mainly expand its hospital network in Bengaluru, with one more hospital by the end of 2026 and three more by the end of FY27.
Founded in 2020 by Mayank Banerjee, Matilde Giglio and Alessandro Ialongo, Even is a Bengaluru-based managed care startup. It combines preventive care, consultations, diagnostics, insurance access and hospitalisation, and runs two hospitals today. The company claims more than 2.5 lakh members across 10 cities, and says unplanned re-admissions in its insurance programmes stay below 1%.
The Pant Project Raises INR 109 Crore Series B Funding
The Pant Project raised INR 109 crore in a Series B round led by Mirae Asset Venture Investments (India). Existing investor Sorin Investments and new investors Hyperscale Ventures, B&K Securities, MGA Ventures and B2V Ventures also took part. It also secured venture debt from Alteria Capital, though the amount was not disclosed. The funds will expand its offline retail network, add new product categories and strengthen its omnichannel presence.
Founded by brothers Dhruv and Udit Toshniwal, The Pant Project is a premium menswear brand that started digital-first with bottomwear for Indian men. Its products include Malai Pants and Inklock No Fade Black Jeans. It runs 25 exclusive stores and plans to open over 150 in the next two to three years.
Muskaan Kapoor
Key Business News for 19 October 2026
Urban Company Slumps 9.5% After Q2 Loss Widens, Board Clears INR 2,500 Crore Fundraise
Urban Company shares slumped 9.5% to INR 143.30 on the BSE after its Q2 FY27 results. The board also approved raising up to INR 2,500 crore through equity shares or convertible securities. Net loss widened to INR 182.5 crore from INR 59.3 crore a year earlier, while operating revenue rose 41% to INR 537.3 crore.
The wider loss came from higher spending on its quick household help business, InstaHelp, which saw a INR 174 crore investment. The proceeds will strengthen InstaHelp, support its three businesses and fund possible acquisitions. Emkay Global kept its Buy rating and raised its target price to INR 200 from INR 190.
Zetwerk's IPO Fully Subscribed On Day 3, Gets Muted Response From Retail Investors
Zetwerk's INR 5,012.3 crore IPO was oversubscribed 1.07 times on the final day of bidding, as per BSE data at 13:45 IST. Bids came in for 19.83 crore shares against 18.51 crore shares on offer. Qualified institutional buyers subscribed 1.44 times, while retail investors subscribed only 51%.
The price band is INR 143 to INR 151 per share, implying a valuation of about INR 25,583 crore at the upper end. The issue has a fresh issue of INR 2,830 crore and an offer for sale of up to 14.45 crore shares. Founded in 2018, Zetwerk runs a manufacturing platform and has raised over $900 million to date. Its net loss narrowed 46.4% to INR 733 crore in the latest quarter.
Tonbo Imaging IPO Oversubscribed 40X On Day 3 Till Now
Tonbo Imaging's INR 852.1 crore IPO was oversubscribed 40.82 times on day three, till 13:23 IST. Bids were placed for 34.80 crore shares against 85.26 lakh shares on offer. Non-institutional investors led demand at 101.78 times, while the retail portion was subscribed 20.67 times.
The IPO is entirely an offer for sale, priced at INR 665 to INR 700 per share. Shares are expected to list on 23 October. Tonbo makes imaging and sensor systems for defence use, including thermal imaging systems and weapon sights. Its FY26 revenue fell 22.7% to INR 362.6 crore, and net profit fell to INR 50.8 crore.
ixigo Shares Jump 13% After Q2 Profit Swings To INR 63 Crore
ixigo shares rose 13.12% to an intraday high of INR 163.30 on the BSE after its Q2 FY27 results. Consolidated net profit came in at INR 63.4 crore against a loss of INR 3.5 crore a year earlier. Operating revenue grew 12.9% to INR 321 crore.
The profit was boosted by an exceptional gain of INR 40.7 crore from its partial exit from electric bus operator Freshbus. Adjusted EBITDA fell 17.2% to INR 23.6 crore. Gross transaction value grew 22% to INR 5,304.5 crore, helped by trains, buses, flights and a hotel business that grew 2.6 times.
Zerodha Launches US Stock Investing, Offers Access To 2,000 Stocks
Zerodha launched US stock investing in beta mode on its Kite platform. Indian investors can access about 2,000 US stocks and 1,000 ETFs through their existing accounts. Fractional investing starts at $1.
Brokerage is 0.1% of trade value, capped at $10 per order, while currency conversion carries a bank markup of 0.5% to 1.2%. The service runs through BSE's India INX Global Access at GIFT City, and funds can only be added through netbanking. Zerodha joins Groww and Upstox, which both launched US stock investing in September.
MeitY Asks Meta To Review Content Recommendation Algorithms
The Centre has asked Meta to review the recommendation algorithms on Facebook and Instagram. In an advisory dated 10 October, MeitY wants Meta to prevent disproportionate exposure to a limited set of narratives. It also asks for stronger checks on content that could cause public disorder or incite violence.
The advisory came amid protests in Delhi over the Special Intensive Revision of electoral rolls. Meta was asked to act with immediate effect and report back to the ministry. Apar Gupta of the Internet Freedom Foundation criticised the move as a censorship directive and questioned its legal basis.
