Daily Indian Funding Roundup & Key News - 17 August 2026: DeHaat Honest Farms Raises INR 35 Crore, PhysicsWallah Jumps 9.5%, and More
One funding round closed on 17 August 2026, with OTP Ventures leading a pesticide-free food bet. The headline raise is DeHaat Honest Farms' INR 35 crore pre-Series A round.
Away from funding, PhysicsWallah shares jumped 9.5% after brokerage upgrades, while Ola Electric expanded into battery energy storage. Parle Agro's licence was also suspended by the Maharashtra FDA, and HUL-owned Minimalist neared INR 700 crore in FY26 income.
Daily Indian Startup Funding Roundup - 17 August 2026
| Startup | Sector | Funding | Round | Lead Investors |
|---|---|---|---|---|
| DeHaat Honest Farms | Consumer Food (Agritech) | ₹35 Cr | Pre-Series A | OTP Ventures |
DeHaat Honest Farms Raises INR 35 Crore Pre-Series A Funding
DeHaat Honest Farms raised INR 35 crore in a pre-Series A round led by OTP Ventures, with participation from Sadev Capital and Maiuni Ventures. The company also appointed DeHaat co-founder Adarsh J Srivastava as its CEO. The funds will accelerate geographic expansion, build category awareness for pesticide-free produce, and support new product development.
DeHaat Honest Farms is a pesticide-free consumer food brand started by agritech company DeHaat. It sources directly from DeHaat's network of more than 13 million farmers and sells over 100 products across staples, superfoods and everyday essentials. Its products are available in more than 3,000 retail stores across over 120 cities, along with quick commerce and ecommerce platforms.
Key Business News for 17 August 2026
PhysicsWallah Jumps 9.5% After Q1 Results, Brokerage Upgrades
PhysicsWallah shares jumped as much as 9.5% to an intraday high of INR 128.35 after JPMorgan and JM Financial upgraded their ratings following the company's Q1 FY27 results. JPMorgan upgraded the stock to Overweight with a target price of INR 148, while JM Financial upgraded it to Buy with a target of INR 140.
The upgrades came despite disruption from the NEET exam cycle. PhysicsWallah's operating revenue grew 24.4% year-on-year to INR 1,054 crore, its net loss narrowed 30.5% to INR 88.3 crore, and its EBITDA turned positive at INR 52 crore. The company expects to achieve group-level profit after tax in Q3 FY27.
Ola Electric Launches Battery Energy Storage Systems
Ola Electric launched three battery energy storage products on 16 August to expand beyond electric vehicles into energy solutions. The lineup includes Ola Shakti 2 for homes, Shakti Rack for commercial use, and Mahashakti for large-scale utility projects such as data centres and grid infrastructure.
The residential Ola Shakti 2 will be priced from INR 99,000 for the 3 kW version, with a 6 kW version priced at nearly INR 1.75 lakh, both powered by Ola Electric's in-house 4680 Bharat lithium-ion cell. Deliveries begin in November 2026, while the commercial and utility products are expected to roll out by March 2027.
Parle Agro's Licence Suspended By Maharashtra FDA
The Maharashtra Food and Drug Administration suspended Parle Agro's licence after finding expired Frooti, Appy and Apple Fizz worth nearly INR 99,970 at its Chembur warehouse. The action is part of a wider food safety drive across restaurants, warehouses and quick commerce platforms in the state.
By 13 August, the FDA had inspected 109 eateries, issued 49 improvement notices and suspended four food business licences. The agency has also flagged hygiene violations at quick commerce stores run by Blinkit, Zepto and Instamart, and issued show-cause notices to Bollywood actors endorsing a tobacco-linked product.
HUL-Owned Minimalist Nears INR 700 Crore Income In FY26
Skincare brand Minimalist's revenue from operations grew 36% to INR 690.2 crore in FY26, its first full year under Hindustan Unilever, which acquired a 90.5% stake in the brand for INR 2,955 crore in January 2025. Including other income, its total income touched INR 697.4 crore.
Minimalist's EBITDA more than doubled to around INR 40 crore, and it swung to a profit after tax of INR 25.9 crore, compared with a net loss the previous year. Founded in 2020 by Mohit Yadav and Rahul Yadav, the brand sells serums, toners and moisturisers through its own website and marketplaces including Amazon, Nykaa and Flipkart.
Snabbit Appoints Klydo Co-Founder Pradeep Yadav As Head Of Operations
Snabbit appointed Pradeep Yadav, co-founder of quick fashion commerce platform Klydo, as its new Head of Operations. Yadav will lead operations and focus on building systems for scale and improving service fulfilment, succeeding Vikas Choudhary, who will now lead new businesses at the company.
Yadav brings 15 years of experience across supply chain, operations and consumer internet, including leadership roles at Udaan and Flipkart. Snabbit, a Bengaluru-based quick home services platform, has crossed 1 crore lifetime jobs and recently logged more than 1.15 lakh jobs in a single day across five cities.
Muskaan Kapoor
