Daily Indian Funding Roundup & Key News - 16 June 2026: SolarSquare Bags $53 Mn, Speedioo Raises ₹10 Cr, Turtlemint IPO Opens 19 June
Cleantech, AI SaaS, wealthtech and consumer brands drew investor capital today, across six disclosed rounds. SolarSquare led the day, raising ₹510 crore (~$53 million) in Series C funding to scale its rooftop solar business. Other rounds went to ContraVault AI, CREST, TrackerSuite AI, Speedioo and Korean FMCG brand Gimi Michi. In key news, insurtech firm Turtlemint's IPO opens on 19 June, while snacking brand Troovy is in talks to raise up to ₹200 crore led by ADIA.
Daily Indian Startup Funding Digest - 16 June 2026
| Startup | Sector | Funding | Round | Lead Investors |
|---|---|---|---|---|
| SolarSquare | Cleantech | ₹510 Cr (~$53 Mn) | Series C | Lightspeed |
| ContraVault AI | AI / SaaS | ₹29.3 Cr ($3.1 Mn) | Pre-Series A | Chiratae Ventures |
| CREST | Wealthtech | ~₹26 Cr ($3.1 Mn) | Pre-Seed | BEENEXT, Sparrow, Shastra VC |
| Speedioo | Used Two-Wheelers | ₹10 Cr (~$1.2 Mn) | Seed | Atomic Capital |
| Gimi Michi | FMCG / Food | ~₹8 Cr ($1 Mn) | Seed | IndiaQuotient |
| TrackerSuite AI | Business Automation SaaS | ₹6 Cr (~$0.7 Mn) | Pre-Series A | UAE-based family office |
SolarSquare Raises ₹510 Crore in Series C
SolarSquare is a full-stack residential solar brand founded in 2015 by Shreya Mishra, Neeraj Jain and Nikhil Nahar. It handles everything from design and installation to financing and maintenance, having served nearly 50,000 homes to date.
SolarSquare has raised ₹510 crore (~$53 million) in its Series C round led by existing backer Lightspeed. Lowercarbon Capital, Rainmatter and Good Capital also participated. SolarSquare has now raised more than $100 million to date.
The fresh capital will fund expansion to new cities, technology development, platform scaling and hiring. The company claims an annual revenue run rate of ₹1,000 crore. The raise comes as India's rooftop solar market gains traction on the back of the Centre's PM Surya Ghar scheme.
ContraVault AI Raises ₹29.3 Crore in Pre-Series A
Bengaluru-based ContraVault AI runs an AI-powered procurement intelligence platform. Founded in 2024 by Sayan Sen, Isha Juneja and Tanmay Juneja, it helps firms across construction, energy, power, defence and aerospace streamline tender bidding.
The startup has raised ₹29.3 crore (~$3.1 million) in a pre-Series A round led by Chiratae Ventures, with participation from existing backer Titan Capital Winners Fund. It had earlier raised about $600,000 from Titan Capital and angel investors.
The funds will support expansion in the US, product development and team building. ContraVault serves 40 customers in India, including Voltas, Shapoorji Pallonji and Adani Group. It claims clients cut tender processing time by 60-70%.
CREST Raises $3.1 Million in Pre-Seed Funding
CREST is an AI-native fractional family office and asset management firm co-founded by Girish Singhi and Zuhaib Khan. It partners with founders, families, HNIs, emerging UHNIs and institutions to manage, structure and preserve wealth.
The company has raised $3.1 million (~₹26 crore) in a pre-seed round led by BEENEXT, Sparrow, Shastra VC, DeVC, Warmup Ventures, Atrium Ventures and 91ventures. Angel investors including Amit Ranjan, Revant Bhate and Shantanu Deshpande also participated.
The capital will strengthen its technology platform, expand its family office and investment teams, and build its asset management offerings. India is home to more than 900,000 dollar millionaires, a figure expected to nearly double by 2030.
Speedioo Raises ₹10 Crore in Seed Funding
Pune-based Speedioo operates a full-stack platform for buying and selling used two-wheelers. It was founded by former CredR and Rentomojo executives Sagar Potphode and Ajit Deshmukh, with a focus on transparency, pricing and procurement.
Speedio has raised ₹10 crore (~$1.2 million) in a seed round led by Atomic Capital. It has crossed ₹30 crore in gross merchandise value and sold over 4,000 vehicles in the past year, while remaining EBITDA and cash-flow positive.
The proceeds will build its AI-native technology stack, expand distribution and strengthen OEM partnerships. Speedioo plans to enter three to four new cities and is targeting over ₹100 crore in annual recurring revenue within 12 to 18 months.
Gimi Michi Raises $1 Million in Seed Funding
Gurugram-based Gimi Michi is building an authentic Korean FMCG brand for Indian consumers. Founded by Nishank Goyal, Akhil Kumar and Bodhi Rathor, it currently operates in the Korean ramen category.
The startup has raised $1 million (~₹8 crore) in a seed round led by IndiaQuotient, with participation from DeVC, Titan Capital and IIMA Ventures. It claims to be the top-selling noodles brand on Flipkart.
The funds will support product development, team expansion, brand-building and quick commerce distribution. Gimi Michi has crossed ₹1 crore in monthly net sales, growing at around 60% month-on-month. It plans to expand into sauces, snacks and ready-to-eat products.
TrackerSuite AI Raises ₹6 Crore in Pre-Series A
TrackerSuite.AI is an AI-powered business operating system for small and medium-sized businesses. Co-founded in 2021 by Neha Chandra and Rishab Chandra, it helps digitise and automate workflows across operations, sales, workforce management and inventory.
The startup has raised ₹6 crore (~$0.7 million) in a pre-Series A round led by a UAE-based family office, advised by Bestvantage Investments. Pontaq.VC, Shubhan Ventures, Candle Advisors and strategic angels also took part.
The funds will strengthen AI capabilities, expand enterprise offerings and support global expansion. TrackerSuite claims to serve more than 1,800 businesses across 25 countries, including India, the Middle East and Southeast Asia.
Muskaan Kapoor
Key Business News for 16 June 2026
Turtlemint IPO to Open on 19 June
Insurtech firm Turtlemint will open its IPO for public subscription on 19 June, closing on 23 June, with a price band of ₹144-152. The issue values the company at about ₹4,513 crore (~$475 million) at the upper end. Turtlemint has retained a fresh issue of ₹660.7 crore, while the offer-for-sale component has been halved to 1.46 crore shares. Backers including Peak XV Partners, Nexus Ventures and Blume Ventures will sell part of their holdings.
Troovy in Talks to Raise ₹200 Crore Led by ADIA
Gurugram-based healthy snacking startup Troovy is in advanced talks to raise ₹150-200 crore in a Series B round led by the Abu Dhabi Investment Authority (ADIA), according to sources. Existing investors, including Fireside Ventures, are expected to join. The clean-label brand offers snacks and nutrition products for children, such as chips, puffs, cookies and milk mixes. The round follows its $5 million Series A in January this year.
