Daily Indian Funding Roundup & Key News - 15 October 2026: Confido Health Raises $12.5 Million, Jio Platforms Sets IPO Price Band
Confido Health raised $12.5 million and six more startups closed rounds, as Jio Platforms set its IPO price band and Zetwerk and Tonbo Imaging opened their IPOs.
Seven funding rounds were announced on 15 October 2026, in sectors ranging from healthcare AI to space robotics and food. Z47, Endiya Partners and Accel were among the day's lead investors. Jio Platforms also set the price band for its IPO, which opens on 21 October.
Daily Indian Startup Funding Roundup - 15 October 2026
| Startup | Sector | Funding | Round | Lead Investors |
|---|---|---|---|---|
| Confido Health | Healthtech | $12.5 Mn | Series A | Z47 |
| Shamrock AI | Enterprise AI | $5 Mn | Seed | Endiya Partners |
| Banaraswala | Food and Beverage | $2 Mn | Seed | Prax Impex |
| Cosmochute | Spacetech | $1.5 Mn | Pre-Seed | Accel, Prosus Ventures |
| AdGraam | Adtech | ₹3 Cr | Seed | Umair Mohammad |
| Formial Labs | Skincare | ₹2.88 Cr | Pre-Seed | Zeropearl VC |
| Kitchen Secret | Food and Beverage | ₹1.14 Cr | Seed | BeyondSeed |
Confido Health Raises $12.5 Million in Series A Round Led by Z47
Confido Health raised $12.5 million in a Series A round led by Z47, with existing investors Together Fund and Blume Ventures also taking part. The startup will use the money to scale its AI platform for healthcare operations.
Founded in 2022 by Chetan Reddy and Vichar Shroff, Confido Health builds AI agents that handle appointment booking, insurance checks and care coordination for clinics. It works with more than 1,500 care sites across 27 US states. The company says it has grown 15 times since its last funding round.
Shamrock AI Raises $5 Million in Seed Round Led by Endiya Partners
Shamrock AI raised $5 million in a seed round led by Endiya Partners, with Capria Ventures also investing. The startup will use the money to build its product, grow its team and expand sales.
Founded in 2026 by Sarat Addanki, Michael Gallagher and Anuraag Nallapati, Shillong-based Shamrock AI helps large companies use AI agents safely in key business processes. It first focuses on automating software testing for large ERP upgrades, such as SAP S/4HANA migrations. The company plans to keep 70% to 80% of its staff in India.
Banaraswala Raises $2 Million From Prax Impex
Banaraswala raised $2 million in a seed round from Prax Impex. The brand will use the money to enter new markets, add dishes and open more company-owned and franchise outlets.
Founded by Vibhanshu Mishra, Banaraswala serves food from Banaras, using clay cups and leaf plates as part of its brand. It runs three outlets in Delhi and sells through food delivery apps. The brand plans to reach 50 outlets across Rajasthan, Uttar Pradesh and Delhi-NCR by March 2027.
Cosmochute Raises $1.5 Million in Pre-Seed Round Led by Accel and Prosus Ventures
Cosmochute raised $1.5 million in a pre-seed round led by Accel and Prosus Ventures through the Atoms X programme. IIMA Ventures and Operators Studio also invested. The startup will use the money to build its product, grow its engineering team and plan its commercial launch.
Founded in 2026 by Janhavi Gore, Amit Chowdhary and Dhruv Alok Sangal, Cosmochute builds robots for moving and setting up equipment on the Moon. Its first system, LEAP, combines a modular rover and trailer with standard cargo bays. It is one of seven startups in the first Atoms X group.
AdGraam Raises INR 3 Crore in Seed Round
AdGraam raised INR 3 crore in a seed round led by Nitro Commerce co-founder Umair Mohammad. The startup will use the money to grow its team, step up sales and marketing and expand abroad.
Founded by Ashish Verma, Saad Mohammad, Sahil Bhatnagar and Saksham, AdGraam uses AI to create ad content for brands. Its platform studies a brand's account data and its competitors to make tailored creatives. Brands can use it themselves or have AdGraam's team run it for them.
Formial Labs Raises INR 2.88 Crore in Pre-Seed Round Led by Zeropearl VC
Formial Labs raised INR 2.88 crore in a pre-seed round led by Zeropearl VC. OZiva founder Aarti Gill and other angel investors also invested. The startup will use the money to grow its clinical team, improve its technology, add products and reach more clinics and pharmacies.
Founded by Dr Jeet Patel, Bengaluru-based Formial Labs makes prescription skincare products tailored to each customer. Customers get online consultations with doctors and regular follow-ups. The startup says it has delivered more than 5,000 custom formulations.
Kitchen Secret Raises INR 1.14 Crore in Seed Round Led by BeyondSeed
Kitchen Secret raised INR 1.14 crore in a seed round led by BeyondSeed, with angel investors also taking part. It is the brand's first outside funding, and the money will go into marketing, stock, quick commerce and B2B sales.
Founded by mother and son Renuka Kedia and Manav Kedia, Kitchen Secret makes preservative-free sauces inspired by Italian, Mexican and Korean food. The brand started in 2016, paused, and relaunched in 2023. It has sold more than 1 lakh jars and is available in more than 500 Blinkit dark stores.
Muskaan Kapoor
Key Business News for 15 October 2026
Jio Platforms Sets IPO Price Band at INR 1,065 to INR 1,119
Reliance's Jio Platforms has set a price band of INR 1,065 to INR 1,119 per share for its IPO. The issue will open on 21 October and close on 23 October, with up to 27 crore shares on offer.
Anchor investors can bid on 19 October, and listing is expected on 28 October. The money will mainly be used to repay some borrowings of Reliance Jio Infocomm. Up to INR 2,500 crore of shares are reserved for eligible Reliance shareholders.
Zetwerk and Tonbo Imaging IPOs Open After Strong Anchor Demand
Zetwerk raised INR 2,251 crore from 99 anchor investors at INR 151 per share, ahead of its INR 5,012 crore IPO. Defence electronics maker Tonbo Imaging raised INR 255.4 crore from 43 anchor investors at INR 700 per share.
Zetwerk's anchor investors included Capital Group, BlackRock, Norway's Government Pension Fund Global and 22 mutual funds. Both IPOs opened on 15 October and will close on 19 October. Tonbo's issue was subscribed 1.47 times by early afternoon on the first day.
Udaan's FY26 Revenue Rises 12.6% to INR 5,134 Crore, Loss Narrows
B2B e-commerce platform Udaan reported gross revenue of INR 5,134 crore for FY26, up 12.6% from INR 4,561 crore in FY25. Its net loss narrowed 19.2% to INR 852 crore.
The growth follows a 20% fall in revenue in FY25. Udaan cut its employee costs to INR 347.5 crore from INR 500 crore, though its finance costs rose 33.5%. The company is preparing for a stock market listing.
