Daily Indian Funding Roundup & Key News - 13 May 2026: Instafix Bags ₹7.55 Cr, Nivasa Raises ₹25 Cr, Groww Backers Sell ₹5,326 Cr
Tuesday's deal flow was led by early-stage rounds across fintech, housing finance and on-demand services, with three Indian startups collectively raising over ₹40 crore. Doorstep smartphone repair startup Instafix secured ₹7.55 crore in pre-seed funding, while Nivasa Finance closed a ₹25 crore seed round to scale its affordable housing finance play. On the news front, Groww's lock-in expiry triggered ₹5,326 crore worth of block deals, and Jio Platforms elevated Akash Ambani to MD ahead of its much-anticipated IPO.
Daily Indian Startup Funding Digest - 13 May 2026
| Startup | Sector | Funding | Round | Lead Investors |
|---|---|---|---|---|
| Nivasa Finance | Housing Finance | ₹25 Cr (~$2.6 Mn) | Seed | Prime Venture Partners, Blume Ventures, Whiteboard Capital |
| Instafix | Consumer Services | ₹7.55 Cr (~$0.9 Mn) | Pre-Seed | Titan Capital, 8i Ventures |
| The EleFant | Edtech / Kids | ~₹8.5 Cr ($1 Mn) | Pre-Series | Growth Sense Venture Fund |
Nivasa Finance Raises ₹25 Crore Seed Funding
Bengaluru-based Nivasa Finance is a tech-enabled home loan distribution platform that connects borrowers with banks and NBFCs for affordable housing finance. Founded in 2025 by Samit Shetty and Hitesh Saraf, it targets underserved borrowers in rural and semi-urban markets.
The startup has raised ₹25 crore (~$2.6 million) in its seed round from Prime Venture Partners, Blume Ventures, Whiteboard Capital and a clutch of undisclosed angel investors. It currently works with over 10 lending partners and claims to have disbursed loans worth more than ₹20 crore through pilots in Mysore and Mandya districts of Karnataka.
Nivasa plans to deploy the capital to expand geographically over the next 12 months, strengthen its distribution network with banks, NBFCs and HFCs, and double down on its field execution team. The company is also working towards securing an NBFC licence to deepen its role in the secured lending ecosystem.
Instafix Raises ₹7.55 Crore Pre-Seed Funding
Gurugram-based Instafix has raised ₹7.55 crore (~$0.9 million) in a pre-seed round co-led by Titan Capital and 8i Ventures. The round also saw participation from Anish Srivastava, Senior Vice President at Blinkit, and Bharat Kalia, Co-founder and CEO of Lifelong.
The fresh capital will be deployed to scale Gurugram operations, expand service coverage beyond iPhones to premium Android models, and build the technology stack powering sub-30-minute on-site repairs. Instafix claims to have grown 100% month-on-month since launch, with repairs priced up to 50% below OEM service centres and backed by warranties of up to 12 months.
The EleFant Raises $1 Million Pre-Series Funding
The EleFant operates a toy subscription and circular play platform for children aged 0–12 years, allowing families to subscribe to toys and books from over 90 brands through monthly plans starting at ₹599. Founded by Sourabh Jain and Srishti Jain, it currently offers over 1,000 toys and books.
The startup has raised $1 million (~₹8.5 crore) in a pre-Series round led by Growth Sense Venture Fund, with participation from JIIF, Arian Capital, Asit Oberoi, Vimal Saboo and other angel investors. It operates through a Franchise-Invested, Company-Operated (FICO) model with over 125 franchise partners across 18 cities.
The proceeds will be used to strengthen its technology infrastructure and expand its presence across key markets. The EleFant aims to cross 50,000 subscribers and expand to over 20 cities in the next 12 months.
Muskaan Kapoor
Key Business News for 13 May 2026
Groww Backers Offload ₹5,326 Crore After Lock-In Expiry
Peak XV Partners, Ribbit Capital and Y Combinator collectively sold 29.52 crore Groww shares worth ₹5,325.8 crore via bulk deals on the day the fintech major's six-month IPO lock-in expired. Ribbit Capital offloaded shares worth ₹2,567.1 crore, while Y Combinator and Peak XV sold stock worth ₹1,642.3 crore and ₹1,116.4 crore respectively, at an average price of ₹180.43.
The block deals were executed at a 1.5% discount to Tuesday's closing price, with Groww shares tumbling as much as 7% intraday before closing 5.47% lower on the BSE.
Akash Ambani Appointed Jio Platforms MD Ahead Of IPO
Reliance Industries' digital arm Jio Platforms has appointed Akash Ambani as its Managing Director for a five-year term, effective 9 April 2026. The eldest son of Mukesh Ambani has been chairman of Reliance Jio Infocomm since June 2022.
The appointment comes as Jio Platforms reportedly reworks the structure of its public offering, with the company exploring a fresh issue route over an OFS-heavy format. Bankers have valued the company between $200 billion and $240 billion, with a potential issue size of about $4 billion (~₹36,100 crore).
Raise Financial Acquires GreenLife Insurance Broking
Fintech unicorn and Dhan parent Raise Financial Services has acquired GreenLife Insurance Broking (GIBL) in a cash-and-stock deal, marking its entry into insurance distribution. Financial terms were not disclosed, but Raise plans to invest $15 million in GIBL to build a direct consumer insurance distribution platform. The deal follows Raise's recent acquisition of algo-trading platform Stratzy as it pushes towards a full-stack fintech play.
Flipkart Loses Bid To Avoid 18% GST On Delivery Charges
The West Bengal Appellate Authority for Advance Ruling has struck down a structure proposed by Walmart-owned Flipkart that sought GST exemption on delivery charges by classifying itself as a goods transport agency (GTA). On 6 May, the appellate authority overturned a December 2025 ruling in Flipkart's favour, calling the arrangement a "mere legal fiction created through contractual structuring".
The order noted that customers neither choose the transporter nor negotiate freight rates, and held that last-mile deliveries via two-wheelers may not qualify as GTA services. The ruling could have wider implications for ecommerce and quick commerce platforms exploring similar models.
Zoho Invests ₹70 Crore In ONDC To Back Open Commerce
SaaS major Zoho has invested ₹70 crore (~$7.3 million) in the Open Network for Digital Commerce (ONDC) to support India's digital commerce infrastructure and drive adoption among MSMEs. The investment deepens Zoho's existing work with ONDC across products such as Vikra, Zoho ERP, Zoho Books, Zoho Inventory and Zoho Commerce.
ONDC claims to have facilitated 21.8 crore transactions across retail, logistics, mobility and financial services during FY26, operating in 616 cities with over 7.64 lakh sellers onboarded. However, retail transaction volumes on the protocol have come under pressure over the past year amid heavy spending by funded competitors.
