Daily Indian Funding Roundup & Key News - 11 June 2026: Ethereal Machines Bags ₹272 Cr, 4baseCare Closes ₹128 Cr Series B, Fidelity Sells Meesho Stake
Deeptech, healthtech and consumer brands led India's funding activity on 11 June 2026, with seven rounds recorded through the day. Ethereal Machines topped the list, raising ₹272 crore (~$28.5 million) in its Series B, while precision oncology firm 4baseCare closed its Series B at ₹128 crore. Manam Chocolate, QubeHealth-Pay and enterprise SaaS startup Rivvun AI also secured fresh capital. In other news, Fidelity offloaded Meesho shares worth ₹988 crore through a block deal, and Honasa Consumer's stock hit a 52-week high on an upbeat FY31 outlook.
Daily Indian Startup Funding Digest - 11 June 2026
| Startup | Sector | Funding | Round | Lead Investors |
|---|---|---|---|---|
| Ethereal Machines | Deeptech Manufacturing | ₹272 Cr (~$28.5 Mn) | Series B | Avataar Ventures |
| 4baseCare | Healthtech | ₹128 Cr (~$13 Mn) | Series B | growX Ventures, Infosys |
| Manam Chocolate | Food & D2C | ~₹75 Cr ($9 Mn) | Undisclosed | Omnivore |
| Rivvun AI | Enterprise SaaS | ~₹63 Cr ($7.55 Mn) | Seed | Sitara Capital, 3one4 Capital |
| QubeHealth-Pay | Fintech | Undisclosed (Undisclosed) | Series A | Unicorn India Ventures |
| Biodimension | Life Sciences | ₹8 Cr (~$1 Mn) | Undisclosed | IAN Angel Fund |
| Dartle | Sports-tech | ~₹84 Lakh ($100K) | Seed | Inflection Point Ventures |
Ethereal Machines Raises ₹272 Crore Series B
Ethereal Machines is a Bengaluru-based deeptech precision manufacturing startup. Founded in 2014 by Kaushik Mudda and Navin Jain, it designs and operates proprietary multi-axis CNC machines and offers precision component production through its Machining-as-a-Service platform. It serves clients across aerospace, defence, healthcare, semiconductors and consumer electronics, with flagship platforms Aura and Nimbus delivering sub-10-micron accuracy.
The startup raised ₹272 crore (~$28.5 million) in its Series B, led by Avataar Ventures, with participation from existing investor Peak XV Partners and other backers. The round comes nearly two years after its $13 million Series A in June 2024, taking total funding to around $50 million.
The capital will fund a 300,000 sq ft mega-factory near Bengaluru, backed by an MoU with the Karnataka government and expected to create over 2,000 jobs. Ethereal Machines also plans to develop India's first indigenous multi-axis CNC controller, invest in its Vesper factory software, support semiconductor manufacturing and expand across the US and Europe. The company reported operating revenue of ₹11.45 crore in FY25, against a loss of ₹27.27 crore.
4baseCare Closes Series B at ₹128 Crore
4baseCare is a Bengaluru-based precision oncology startup founded by Hitesh Goswami and Kshitij Rishi. It uses genomics, bioinformatics and AI to develop personalised cancer care, with its flagship platform OncoTwin helping oncologists derive treatment insights from clinico-genomic and real-world patient data.
The startup secured an additional ₹38 crore (~$4 million), led by growX Ventures and Infosys, to close its Series B at ₹128 crore (~$13 million). This follows a ₹90 crore first close earlier backed by Ashish Kacholia, Lashit Sanghvi and Yali Capital, and a ₹50 crore Series A led by Yali Capital in 2024.
The funds will expand its genomics laboratory network across India, the Middle East, Southeast Asia, Latin America and Central Asia, and further scale OncoTwin. 4baseCare currently runs labs in India, Dubai, Nepal and the Philippines, and plans to enter 8-10 more countries over the next 12-18 months. It conducts around 1,500 genomic tests a month, with volumes expected to rise to 8,000-10,000.
Manam Chocolate Raises $9 Million Round
Manam Chocolate is a Hyderabad-based bean-to-bar craft chocolate company founded in 2021 by Chaitanya Muppala. It manufactures chocolate using Indian cacao, exports fine-flavour cocoa beans and supplies the HoReCa sector, with gifting accounting for around 65% of revenue.
The company raised ₹75 crore (~$9 million) in a round led by Omnivore, with participation from the Turner Morrison consortium.
The proceeds will expand its retail footprint to 18 stores over the next two years, add new product categories and enter new markets. Manam currently operates three stores across Hyderabad and Delhi-NCR, and works with over 250 farmers cultivating more than 3,000 acres of cacao in Andhra Pradesh. It competes with D2C premium players such as Paul and Mike, Mason & Co and Smoor.
Rivvun AI Raises $7.55 Million Seed Funding
Rivvun AI is an enterprise SaaS startup headquartered in Seattle, with its engineering base in Pune. Founded by former Icertis executives Anand Veerkar and Niranjan Umarane, it builds software that helps large organisations detect missed commercial obligations, supplier rebate losses, pricing inconsistencies and settlement gaps.
The startup secured ₹63 crore (~$7.55 million) in a seed round co-led by Sitara Capital and 3one4 Capital.
The capital will strengthen its AI capabilities, expand its workforce and scale customer acquisition. Rivvun AI's platform connects with ERP, CRM and procurement systems, and targets large global enterprises across healthcare, banking, consumer goods, retail and manufacturing.
QubeHealth-Pay Closes Series A at ₹416 Crore Valuation
QubeHealth-Pay is a Mumbai-based healthcare payments platform founded by Chris George and Gagan Kapur. It lets users pay medical expenses across hospitals, clinics, pharmacies, diagnostic centres and doctors without network restrictions, while offering cashback rewards and healthcare financing.
The company closed its Series A at a valuation of ₹416 crore (~$44 million), with the amount raised undisclosed. Investors include Unicorn India Ventures, IA Growth Opportunities Fund, Brew Opportunities Fund, Finvolve Ventures, FirstPort Capital and Maithan Family Office. This follows a pre-Series A round backed by Unicorn India Ventures and CanBank Venture Capital Fund.
The proceeds will strengthen the platform, expand its payments ecosystem and support entry into the Middle East and Southeast Asia. The platform is used by more than 200,000 families, processed ₹100 crore in healthcare payments in FY26 and is on track to cross ₹240 crore in FY27, working with over 15,000 healthcare providers.
Biodimension Secures ₹8 Crore Funding
Biodimension is a Bengaluru-based life sciences startup founded by Manojkumar S., Ranjith Kumar Velusamy and Pradeep Arunachalam. It develops biofabricated human tissue and organoid models as alternatives to animal testing for pharmaceutical, biotechnology and cosmetic companies.
The startup raised ₹8 crore (~$1 million) in a round led by IAN Angel Fund, with participation from existing investor Campus Angels Network, Dr. Sampath Srisailam and angel investor Aaryan Baid.
The funds will accelerate product development, expand laboratory infrastructure and support commercialisation in India and overseas. Biodimension plans to scale its Bioassay-as-a-Service platform, expand its oncology research offerings and enter additional markets in Southeast Asia.
Dartle Raises $100K Seed Funding
Dartle is a Kerala-based sports-tech startup founded by Nihal Pradeep, Swathi Krishnan and Nagaraj R Potti. It runs a vertical B2B SaaS platform for youth sports and football academies, helping them manage operations, scheduling, player analytics and parent engagement.
The startup raised ₹84 lakh (~$100,000) in a seed round led by Inflection Point Ventures.
The capital will expand its go-to-market strategy, accelerate its US presence, strengthen AI integrations and deepen partner engagement. Dartle currently serves 14 academies across India, the Middle East, Nepal and the US, and aims to onboard over 100 academies globally with an ARR target of nearly $1 million.
Muskaan Kapoor
Key Business News for 11 June 2026
Fidelity Offloads Meesho Shares Worth ₹988 Crore
Fidelity Investments has sold Meesho shares worth around ₹988 crore through a block deal, according to stock exchange data. The transaction involved 5.98 crore shares, or about 1.31% stake, at roughly ₹165.2 apiece, marking one of the largest secondary deals since the company's listing. The sale follows the expiry of lock-in restrictions for several pre-IPO shareholders. Meesho reported a 47% rise in revenue to ₹3,531 crore for the quarter ended March 2026, while narrowing losses by 88% to ₹166 crore.
Honasa Stock Hits 52-Week High on FY31 Outlook
Shares of Honasa Consumer, the parent of Mamaearth, hit a 52-week high of around ₹438, rising nearly 77% over six months from a low of ₹248. The rally follows its Investor Day 2026, where the company set a target of crossing ₹5,500 crore in revenue by FY31 and improving EBITDA margin to over 15%. Honasa expects Mamaearth to become a ₹2,000 crore-plus brand and The Derma Co to exceed ₹1,500 crore. It also plans to expand direct retail reach from around 120,000 outlets to more than 300,000.
