Daily Indian Funding Roundup & Key News - 9 July 2026: Wheelocity Bags ₹82 Cr, BAAS Technologies Raises ₹5 Cr, Nurix AI Acquires Verloop
Three deals headline India's startup funding activity on 9 July 2026, spanning rural commerce, space-tech, and enterprise AI. Chennai-based Wheelocity led the day with ₹82 crore (~$8.5 million) raised across an ongoing round backed by Lightspeed India and Elevar Equity, while Pune's BAAS Technologies closed a ₹5 crore pre-seed from Inflection Point Ventures for rocket propulsion development.
On the M&A front, Mukesh Bansal's Nurix AI acquired conversational AI platform Verloop.io, creating a combined platform that will handle over 20 million customer interactions per month. Separately, Mamaearth parent Honasa Consumer projected 30% year-on-year operating revenue growth for Q1 FY27.
Daily Indian Startup Funding Digest - 9 July 2026
| Startup | Sector | Funding | Round | Lead Investors |
|---|---|---|---|---|
| Wheelocity | Rural Commerce | ₹82.36 Cr (~$8.5 Mn) | Ongoing Round | Lightspeed India Partners, Elevar Equity (EE-FI AIF) |
| BAAS Technologies | Space Tech | ₹5 Cr (~$0.6 Mn) | Pre-Seed | Inflection Point Ventures |
Wheelocity Raises ₹82 Crore in Ongoing Funding Round
Chennai-based Wheelocity is a phygital commerce startup that delivers fresh produce and grocery products across India's semi-urban and rural markets through a hybrid online-offline model, including branded electric carts operating in villages. Founded in 2021 by Selvam VMS and Senthil Kumar A, the company operates a zero-inventory, flow-through supply chain that sources directly from farmers and sells within 24 hours of harvest.
Wheelocity has raised ₹82.36 crore (~$8.5 million) across three tranches in an ongoing round, as per MCA filings. Investors include Lightspeed India Partners III LLC, LS Opportunities Access Fund LP, Grand Anicut Fund 3, Magnum LLC, Elevar Equity's EE-FI AIF, and a group of angel investors including VML Karthikeyan and Lakshmi Narayanan Senthilnathan. The round follows a $15 million (~₹126.5 crore) Series A2 in 2024.
The company has not disclosed the specific use of funds from this round, with CEO Selvam VMS confirming it remains ongoing. Wheelocity's model targets what it describes as an 'access problem' in rural India, using AI-powered demand forecasting and route optimisation to serve consumers who are underserved by mainstream quick commerce platforms.
BAAS Technologies Raises ₹5 Crore Pre-Seed for Rocket Propulsion Systems
Pune-based BAAS Technologies is a space-tech startup developing reusable sub-orbital and orbital launch vehicles, with a focus on indigenous solid and liquid rocket propulsion systems. Founded in 2024 by Tanmay Kanmahale, Prashant Patil, Atharva Pingale, Swayam Sonar, and Shriniwas Hase, the company targets commercial, research, and government launch customers.
BAAS Technologies raised ₹5 crore (~$0.6 million) in a pre-seed round led by Inflection Point Ventures, with participation from SINE IIT Bombay and private angel investors.
Proceeds will fund R&D on propulsion systems, construction of a static fire testing facility, equipment procurement, and team expansion. The startup has completed paid pilot programmes in India and is expanding commercially into Latin America, the Middle East, Southeast Asia, and Australia.
Muskaan Kapoor
Key Business News for 9 July 2026
Nurix AI Acquires Verloop.io to Build Unified Voice and Chat Platform
Mukesh Bansal's enterprise AI startup Nurix AI has acquired conversational AI platform Verloop.io for an undisclosed sum. The combined platform will automate more than 20 million customer interactions per month, merging Nurix's flagship voice AI product NuPlay with Verloop's chat automation capabilities.
Verloop founder Gaurav Singh will join Nurix's leadership team to lead product strategy, enterprise go-to-market, and AI agent development. Nurix's existing client base includes Myntra, Cult.fit, super.money, and Aditya Birla Capital.
Honasa Consumer Projects 30% Revenue Growth for Q1 FY27
Mamaearth parent Honasa Consumer has projected 30% year-on-year growth in operating revenue for Q1 FY27 (quarter ended 30 June 2026), driven by offline distribution gains and healthy online channel performance. On a reported basis, growth is expected to land in the mid-twenties after the Flipkart Group changed its revenue reporting guidelines, requiring Honasa to net off fulfilment and logistics costs before counting revenue.
In Q4 FY26, Honasa posted a net profit of ₹69.4 crore, up 177.6% year-on-year, with full-year FY26 profit reaching ₹200.2 crore against ₹72.7 crore in FY25. The company also flagged a double-digit operating margin profile in Q1 FY27.
BlackSoil Acquires Credit Fair's Solar Financing Business for Undisclosed Sum
Alternative credit platform BlackSoil has acquired the solar financing business of Credit Fair, including its management team, technology platform, brand, and operating infrastructure. Credit Fair's solar financing unit manages assets worth ₹152.6 crore and has disbursed over ₹1,300 crore across more than 3.5 lakh loans in 20+ states, working with partners including Tata Power, Waaree, and Adani Solar.
BlackSoil, which operates an RBI-registered NBFC and a SEBI-registered AIF managing around $275 million in assets, said the deal strengthens its presence in the renewable energy financing segment. Financial terms were not disclosed.
Mahadev Betting App Suspect Sourabh Chandrakar Detained in Oman
Sourabh Chandrakar, the alleged mastermind behind the Mahadev online betting app syndicate, has been detained in Oman by the Royal Oman Police based on an Interpol Red Notice issued by India's Enforcement Directorate. The ED has alleged the case involves proceeds of crime worth around ₹6,000 crore, with links to politicians and bureaucrats in Chhattisgarh.
Indian authorities are pursuing extradition or deportation, citing strong bilateral ties between India and Oman. The ED previously attached properties worth ₹1,700 crore linked to Chandrakar, including 18 luxury properties in Dubai.
