Daily Indian Funding Roundup & Key News - 2 July 2026: BatX Raises ₹105 Cr, Age Care Labs Bags ₹85 Cr, Swara Baby Files ₹1,000 Cr DRHP
Capital on 2 July 2026 favoured climate tech, eldercare and specialty chemicals, with five startup rounds tracked. Battery recycler BatX Energies led the day with a ₹105 crore Series A, while eldercare firm Age Care Labs closed the first tranche of its Series B at ₹85 crore. In IPO news, FirstCry parent BrainBees-backed Swara Baby Products filed its DRHP for a ₹1,000 crore public issue. Sparrow Capital also closed its third fund at ₹475 crore to back seed-stage founders.
Daily Indian Startup Funding Digest - 2 July 2026
| Startup | Sector | Funding | Round | Lead Investors |
|---|---|---|---|---|
| BatX Energies | Cleantech / Battery Recycling | ₹105 Cr (~$11 Mn) | Series A | IvyCap Ventures |
| Age Care Labs | Eldercare / Healthtech | ₹85 Cr (~$9 Mn) | Series B1 | Rainmatter, Shrem Group, Pegasus Finvest |
| BCT Ventures | Consumer / AI | ₹42 Cr (~$5 Mn) | Seed | 3one4 Capital |
| Tulon Materials | Specialty Chemicals | ₹10 Cr (~$1.2 Mn) | Seed | Karthik Sundar Iyer |
| Heatronics | Health & Wellness | ₹1.8 Cr (~$0.2 Mn) | Seed | Inflection Point Ventures |
BatX Energies Raises ₹105 Crore Series A
Gurugram-based BatX Energies is a battery recycling and critical minerals recovery startup founded by Utkarsh Singh and Vikrant Singh. It recovers lithium, cobalt, nickel and graphite from end-of-life batteries and manufacturing scrap.
The startup has raised ₹105 crore (~$11 million) in a Series A round led by IvyCap Ventures. Existing investors Zephyr Peacock, Mankind Pharma Family Office, Excel Industries Family Office and JITO also participated. BatX had earlier raised $5 million in a pre-Series A round led by Zephyr Peacock in December 2023.
The fresh funds will be used to expand recycling and refining capacity, strengthen R&D, and accelerate a domestic supply chain for battery materials. The company is also developing Cathode Active Materials used in lithium-ion battery manufacturing.
Age Care Labs Raises ₹85 Crore Series B1
Gurugram-based Age Care Labs runs eldercare brands Emoha, an at-home and app-based platform, and Epoch Elder Care, which operates assisted living and dementia care homes. Founded in 2019 under Saumyajit Roy, the two brands serve more than 60,000 seniors across 120 cities.
The startup has raised ₹85 crore (~$9 million) in a Series B1 round, part of a larger ₹250 crore (~$30 million) Series B expected to close by the first quarter of 2027. Investors include Zerodha-backed Rainmatter, Shrem Group, Pegasus Finvest and several family offices. Age Care Labs has raised over $20 million to date.
The capital will fund service expansion, technology, and healthcare capabilities across India. As part of the round, Shrem Group has partnered with Emoha to launch Shremoha, a premium senior living platform. Age Care Labs competes with KITES Senior Care, Alserv and Ratan Tata-backed Goodfellows.
BCT Ventures Raises ₹42 Crore Seed Round
BCT Ventures is an AI-native consumer brands platform co-founded by Kashyap Vadapalli, KV Ravi Shekhar and Anubhav Sonthalia. It will initially focus on the nutrition and wellness segment.
The company has raised ₹42 crore in a seed funding round led by 3one4 Capital. It launched operations alongside the raise.
BCT plans to build brands around protocol-led products, practitioner-led audiences and AI-enabled growth, using three proprietary engines named Nucleus, Resonance and Meridian across insights, product development and go-to-market. It intends to expand the approach to other consumer categories over time.
Tulon Materials Raises ₹10 Crore Seed Round
Mumbai-based Tulon Materials is an R&D-led engineering startup developing high-performance and sustainable specialty chemicals. It was founded in June 2022 by Asesh Sarkar, Rabindranath Mandal and Harsh Bhatt.
Tulon Materials has raised ₹10 crore (~$1.2 million) in a seed round led by Karthik Sundar Iyer. Karan Goshar and Prakhar Pandey, partners at Valour Capital, and Agam Shah also participated.
The capital will accelerate engineering and commercialisation of products for paints, coatings, printing inks and adhesives. Its portfolio includes a plastic waste upcycling technology that converts complex polymer waste into industrial chemical resins.
Heatronics Raises ₹1.8 Crore Seed Round
Noida-based Heatronics is a preventive pain-management and wellness startup founded in 2022 by Hargun Singh Chawla. It develops medical-grade heat therapy and recovery devices under its hCore brand.
The startup has raised ₹1.8 crore in a seed round led by Inflection Point Ventures. Angel investors Nitin Agarwal, a former GlobalBees executive, and Shivam Mishra of String Ventures also participated.
The funds will strengthen marketing and branding, upgrade manufacturing and expand distribution. Heatronics operates a 12,000-square-foot facility in Noida, employs over 40 people, and sells via Amazon, Blinkit and offline retail. It reported over 100% year-on-year growth.
Muskaan Kapoor
Key Business News for 2 July 2026
Swara Baby Products Files ₹1,000 Crore DRHP; FirstCry Parent To Sell ₹300 Crore Stake
Swara Baby Products, a hygiene contract manufacturer, has filed its DRHP with SEBI for a ₹1,000 crore IPO comprising a ₹500 crore fresh issue and a ₹500 crore offer-for-sale, plus a planned ₹100 crore pre-IPO round. FirstCry parent BrainBees, which owns a 76.6% stake, will sell shares worth up to ₹300 crore through the OFS. Founded in 2018, Swara reported an FY26 net profit of ₹95.6 crore on operating revenue of ₹1,163 crore, up 23.4% year-on-year. Fresh proceeds will fund a new plant in Madhya Pradesh, debt repayment and inorganic growth.
Sparrow Capital Closes Third Fund At ₹475 Crore For Seed-Stage Bets
VC firm Sparrow Capital has closed its third fund at ₹475 crore, surpassing its ₹400 crore target. The sector-agnostic fund plans to back 25-30 startups over three years with cheque sizes of $1 million to $2 million, higher than the $300K-$500K of its ₹120 crore Fund II. Around 60% of Fund III's capital came from global endowments, foundations and family offices. Founded in 2020, Sparrow counts GoKwik, Apna Mart and Deconstruct among its portfolio.
Government Weighs Legal Action Over WhatsApp Usernames Feature
The Centre is reviewing WhatsApp's upcoming usernames feature and exploring legal options to regulate or restrict its rollout in India, PTI reported, citing government sources. Officials are concerned the feature, which lets users connect without sharing phone numbers, could facilitate impersonation and online fraud. The government may issue a legal notice to Meta seeking details on safeguards, and could consider blocking or delaying the rollout. Meta says the feature is designed to enhance privacy and includes anti-impersonation safeguards.
