Daily Indian Funding Roundup & Key News - 11 May 2026: Wingreens Raises ₹120 Cr & Acquires Safe Harvest, InCred Files UDRHP, Acko Turns Profitable

Indian startup activity on 11 May 2026 was led by healthy packaged foods and fintech, with one notable funding round and a clutch of IPO and listed-company updates. Wingreens Farms closed a ₹120 crore Series D and acquired Safe Harvest in a share-swap deal. On the public markets front, InCred Holdings filed its UDRHP for a ₹1,250 crore IPO, while Acko swung to profit in FY26 ahead of its planned listing. Ather Energy hit a record high on clean mobility tailwinds, even as Urban Company shares tumbled on a sharp Q4 loss.

Daily Indian Startup Funding Digest - 11 May 2026

Wingreens Farms Raises ₹120 Crore Series D, Acquires Safe Harvest

Wingreens Farms is an Indian packaged foods company founded in 2011 by Anju Srivastava and Arjun Srivastava. Its portfolio spans healthy snacks, sauces, dips, breakfast cereals, non-dairy milk and protein shakes, and it also operates cold-pressed beverages brand Raw Pressery.

The company has closed a ₹120 crore (~$12.6 million) Series D round led by Ashish Kacholia, with participation from Alchemy Fund. Including this round, Wingreens has now raised about $76.5 million in total from backers including Peak XV Partners, Anicut Capital and Sequoia Capital.

Alongside the round, Wingreens has acquired sustainable food company Safe Harvest, which works with over 1 lakh farmers on pesticide-free staples, in a share-swap transaction. The fresh capital will be deployed across product expansion, distribution, supply chain integration and farmer partnerships, as the company eyes a public listing within two years after claiming EBITDA profitability in FY26.

Sindhuja Microcredit Raises $5 Million in Pre-Series D Round

Noida-based NBFC-MFI Sindhuja Microcredit has raised $5 million (approximately Rs 47 crore) in a pre-Series D funding round from existing investors Abler Nordic, GAWA Capital through Huruma Fund, and Oikocredit.

The proceeds will be deployed to strengthen the company's capital base, expand lending operations, and deepen access to credit for underserved communities, including women entrepreneurs and MSMEs.

Flo Mobility Raises $2.5 Million in Pre-Series A Round

Bengaluru-based construction robotics startup Flo Mobility has raised $2.5 million in a pre-Series A funding round co-led by Mela Ventures and Arali Ventures.

The proceeds will be used to scale manufacturing, strengthen the company's AI and autonomy stack, expand deployments across India, and enter international markets, particularly the Middle East.

Kathy's Beverages Raises Rs 6 Crore in Pre-Series A Round

Mumbai-based beverage startup Kathy's Beverages, which operates bubble tea and beverage brand Bobakat, has raised Rs 6 crore in a pre-Series A funding round.

The funds will go toward product innovation, team expansion, marketing, and offline expansion across India. Bobakat currently operates compact-format outlets across food courts and high streets.

NORI Raises $350K Pre-Seed Round Led by Rebalance

Bengaluru-based NORI, a travel gear brand designed specifically for women, has raised $350,000 in a pre-seed funding round led by Rebalance, with participation from Vijay Shekhar Sharma, VSS Investco, and other angel investors.

The fresh funds will be used to expand its product portfolio and strengthen its presence across digital and offline channels.

Key Business News for 11 May 2026

InCred Holdings Files UDRHP for ₹1,250 Crore IPO

Fintech unicorn InCred Holdings has filed its updated draft red herring prospectus with SEBI for an IPO comprising a fresh issue of up to ₹1,250 crore and an offer-for-sale of up to 9.9 crore equity shares. KKR plans to sell up to 4 crore shares in the OFS, with MNI Ventures and Ranjan Pai's MEMG Family Office offloading 1.98 crore and 1.01 crore shares, respectively. Fresh proceeds will primarily go towards strengthening the capital base of subsidiary InCred Financial Services. Founded in 2016 by Bhupinder Singh, InCred has raised over $450 million in private equity to date.

Acko Turns Profitable Ahead of IPO, Posts ₹43.6 Crore FY26 Profit

IPO-bound insurtech unicorn Acko posted a net profit of ₹43.6 crore in FY26, swinging from a ₹193.4 crore loss in FY25. Total income climbed 39.7% to ₹199.5 crore, while net earned premium rose 26% to ₹191.8 crore on the back of growth in its insurance business. The startup is targeting a $2 billion to $2.5 billion valuation and plans to confidentially file its DRHP in H2 2026, with a listing eyed in H1 2027. Acko recently appointed ICICI Securities, Morgan Stanley and Kotak Securities as bankers for the issue.

Ather Energy Hits Record High After PM Modi's Clean Mobility Push

Shares of Ather Energy jumped as much as 8.1% to a fresh all-time high of ₹989.4 on the BSE, before settling 6% higher at ₹970.1 with a market cap of ₹37,123.1 crore (~$3.9 billion). The rally followed Prime Minister Narendra Modi's call for greater adoption of clean mobility solutions amid geopolitical tensions in West Asia. Ather had earlier reported a 57% narrowing of its Q4 FY26 net loss to ₹100 crore and FY26 operating revenue of ₹3,671.8 crore, up 62.8% year-on-year. HSBC and Nomura have retained 'Buy' calls with target prices of ₹1,050 and ₹1,120, respectively.

Urban Company Tumbles 11% After Q4 Loss Surges 57X

Shares of Urban Company nosedived 10.8% intraday to ₹124.5 on the BSE before closing 9.5% lower at ₹126.2, taking its market cap to about ₹19,462.3 crore (~$2 billion). The home services platform reported a 56.7X jump in Q4 FY26 net loss to ₹161.2 crore, as investments in its InstaHelp quick home services vertical weighed on the bottom line. Operating revenue grew 42.6% to ₹425.6 crore in the quarter, but FY26 swung to a ₹234.8 crore loss versus a ₹239.8 crore profit in FY25. The company flagged "irrational" competition in housekeeping from rivals Snabbit and Pronto.

Adda247 Lays Off Over 200 Employees Ahead of Planned IPO

Google-backed edtech startup Adda247 has reportedly laid off over 200 employees, amounting to nearly 20% of its total workforce, as part of a restructuring exercise ahead of its planned IPO.

The layoffs, carried out at the company's Gurugram office on April 30, reportedly impacted teams across product, design, content, CUET, UPSC, judiciary preparation, and teaching functions.

Digital Gold and Silver Industry Forms Self-Regulatory Body DPMACI

India's digital precious metals ecosystem has established a self-regulatory organisation named the Digital Precious Metals Assurance Council of India (DPMACI), aimed at strengthening transparency, operational integrity, and consumer protection in the digital gold and silver market.

The council brings together leading industry players including MMTC-PAMP, SafeGold, Augmont, PhonePe, BharatPe, MobiKwik, Gullak, LendenClub, and CRED. It will be chaired by public policy expert Nirupama Soundararajan and will engage with policymakers and government stakeholders to establish governance standards and verification mechanisms for the sector.

The move comes as digital gold adoption through UPI-based platforms has surged sharply. Industry executives estimate that more than 90% of digital gold transactions now take place through the UPI network, with the category expanding across platforms such as Paytm, PhonePe, Indiagold, Jar, Amazon Pay, and Google Pay.

Under the council's framework, member platforms will be required to maintain a 1:1 physical metal backing verified through periodic independent audits, with holdings conforming to London, UAE, or Indian good delivery standards.