Daily Indian Funding Roundup & Key News - 20 July 2026: RVAG Bags $40 Mn, Plazza Raises $15 Mn, Spain Set to Introduce UPI Payments
Three funding rounds closed on 20 July 2026, pulling in a combined ~$56 Mn across aerospace manufacturing, quick medicine delivery, and D2C skincare. The headline deal belongs to Hyderabad-based Raghu Vamsi Aerospace Group, which raised $40 Mn in a Series B co-led by Norwest and Skegen Asset Management, reflecting sustained investor appetite for India's advanced hardware and defence sector. Bengaluru's Plazza secured $15 Mn in Series A backing from Accel, Elevation Capital, and Nexus Venture Partners to scale its 15-to-30-minute medicine delivery model.
Away from the funding table, Spain is set to become one of the latest countries to accept India's Unified Payments Interface, and more.
Daily Indian Startup Funding Digest - 20 July 2026
| Startup | Sector | Funding | Round | Lead Investors |
|---|---|---|---|---|
| Raghu Vamsi Aerospace Group | Aerospace & Defence | ~₹387 Cr ($40 Mn) | Series B | Norwest, Skegen Asset Management |
| Plazza | Quick Commerce / Pharma | ~₹145 Cr ($15 Mn) | Series A | Accel, Elevation Capital, Nexus Venture Partners |
| LNGVTY | Beauty & Skincare | ₹5 Cr (~$0.6 Mn) | Seed | Rukam Capital |
| Plazza | Quick Commerce / Pharma | ~₹145 Cr ($15 Mn) | Series A | Accel, Elevation Capital, Nexus Venture Partners |
Quick Medicine Delivery Draws Tier-1 VC Interest as Competition Intensifies
Plazza's $15 Mn Series A, backed simultaneously by Accel, Elevation Capital, and Nexus Venture Partners, signals strong institutional conviction in pharmacy-focused quick commerce as a distinct category. The segment is already crowded: Flipkart entered via Flipkart Minutes in December 2024, Zepto launched 10-minute medicine delivery in 2025, and Blinkit has been piloting prescription medicine delivery in Bengaluru.
The space has also attracted earlier-stage capital, with PlatinumRx raising $6 Mn from Stellaris Venture Partners in September 2025 and Truemeds securing $85 Mn led by Accel and Peak XV Partners. The key differentiation Plazza is betting on is prescription fill rate, claiming over 95% versus an industry average of 50% to 60%, driven by stocking 40,000-plus SKUs per store.
Raghu Vamsi Aerospace Group Raises $40 Mn in Series B
Hyderabad-based Raghu Vamsi Aerospace Group (RVAG) is a precision aerospace and defence manufacturer founded over two decades ago by Vamsi Vikas. It supplies components and sub-assemblies to global OEMs, including GE Aerospace, Pratt & Whitney, Honeywell, Safran, and Collins Aerospace, and runs more than 10 facilities across India, the UK, and the US.
RVAG raised $40 Mn (~₹387 crore) in a Series B round co-led by Norwest and Skegen Asset Management, with participation from Indus Bridge Ventures, GJNX Ventures, and investor Ashish Kacholia. The company currently holds an order book exceeding ₹2,500 crore.
The fresh capital will fund the expansion of manufacturing capacity across its existing facilities, accelerate the development of an integrated manufacturing campus near Hyderabad International Airport, and strengthen its mission systems and autonomous systems businesses, which include micro turbojet engines, missile subsystems, and drone platforms under its ARROBOT brand.
Plazza Raises $15 Mn Series A for Quick Medicine Delivery
Bengaluru-based Plazza was founded in 2024 by Aman Priyadarshi, a former Zomato executive. It operates technology-enabled neighbourhood pharmacies that deliver medicines within 15 to 30 minutes, with each store stocking more than 40,000 pharmaceutical SKUs — roughly eight times the inventory of a typical neighbourhood pharmacy.
The startup raised $15 Mn (~₹145 crore) in a Series A round co-led by Accel, Elevation Capital, and Nexus Venture Partners, with existing investors All In Capital and Better Capital also participating. This follows a $1.4 Mn seed round raised approximately ten months ago. The company claims its gross merchandise value grew nearly 27x between June 2025 and March 2026.
Proceeds will go towards strengthening the AI-powered inventory and assortment platform, building operational infrastructure, and expanding the pharmacy network beyond its current two stores in Bengaluru into new neighbourhoods and eventually new cities.
LNGVTY Raises ₹5 Crore Seed Funding for Skin Longevity Brand
Mumbai-based LNGVTY is a skincare brand founded by Nishit Ratthe, focused on what it calls skin longevity. Its debut product, Skin Longevity System 5, targets five biological pathways linked to skin renewal through a 75-day protocol, and includes three serums for acne control, dark spots, and deep hydration.
LNGVTY raised ₹5 crore in a seed round led by Rukam Capital. The funds will be used for D2C marketing, customer acquisition, product portfolio expansion, and R&D investment.
LNGVTY is entering a market that research values at over $9 billion in India in 2025, with projections pointing to $18.4 billion by 2034, as demand for evidence-based, long-term skincare solutions grows.
Key Business News for 20 July 2026
Spain Set to Introduce UPI Payments for Indian Users
Spain is set to become one of the latest countries to accept India's Unified Payments Interface (UPI), expanding the global reach of the digital payment system. The move will make payments easier for Indian tourists, students, and businesses while strengthening digital payment connectivity between India and Spain.
With Spain's addition, UPI continues its international expansion alongside countries such as France, Singapore, the UAE, Sri Lanka, Mauritius, Bhutan, Nepal, and Trinidad & Tobago, making seamless cross-border digital payments increasingly accessible for Indian users.
Accenture Introduces 50:50 Salary Hike Structure to Reward More Employees
Accenture has revamped its annual salary hike process by splitting approved pay increases equally between a permanent increase in base salary and a one-time lump-sum payment. The new compensation model is designed to extend salary hikes to a larger number of employees while helping the company manage long-term payroll costs.
The 50:50 split applies only to annual compensation revisions and not to promotions, which will continue to be reflected entirely in base pay. The one-time payout is also separate from Accenture's regular year-end performance bonuses.
Muskaan Kapoor
