Daily Indian Funding Roundup & Key News - 2 November 2026: Clinics On Cloud Raises ₹120 Crore, Affle to Buy Perion for Over $420 Million
Clinics On Cloud raised INR 120 crore and five more startups closed rounds, as Affle agreed to buy Perion and UPI hit a record 25.47 billion transactions.
Six funding rounds were announced on 2 November 2026, in sectors ranging from health screening and clean energy to beauty and fitness. Model42, Hero Enterprise Partner Ventures and Transition VC were among the day's lead investors. Affle also agreed to buy Israeli adtech firm Perion, while UPI set a new monthly record in October.
Daily Indian Startup Funding Roundup - 2 November 2026
| Startup | Sector | Funding | Round | Lead Investors |
|---|---|---|---|---|
| Clinics On Cloud | Healthtech | ₹120 Cr | Series A | Model42 |
| CapGrid | Manufacturing | ₹50 Cr | Pre-Series B | Hero Enterprise Partner Ventures |
| Two Point O Capital | Clean Energy | $10 Mn | Undisclosed | Transition VC |
| Hyeglo Beauty | Beauty and Personal Care | ₹7 Cr | Undisclosed | Sauce |
| Dispatch Network | Logistics | ₹5 Cr | Pre-Seed | Antler India |
| OBSESS | Fitness | ₹3 Cr | Angel | Pushpendra Singh, Amit Goel, Harshit Vij |
Clinics On Cloud Raises INR 120 Crore in Series A Round Led by Model42
Clinics On Cloud raised INR 120 crore in a Series A round led by Dubai-based healthcare investor Model42, at a valuation of INR 600 crore. The company will expand into the UAE first, then Africa, the US and Southeast Asia. It will also spend on AI tools, research and more manufacturing capacity.
Founded in 2018 by Abhay Agarwal and Manashrri Agarwal, Pune-based Clinics On Cloud makes health check kiosks called Health ATMs. They measure ECG, blood pressure, oxygen and haemoglobin in about 10 minutes. The company says it has more than 3,500 installations and was bootstrapped until this round.
CapGrid Raises INR 50 Crore in Pre-Series B Round Led by Hero Enterprise
CapGrid raised INR 50 crore in a pre-Series B round led by Hero Enterprise Partner Ventures, at a valuation of INR 430 crore. Existing investors Nexus Venture Partners, Anicut Capital and Axilor also took part. The round included both new shares and the sale of existing shares.
CapGrid is a B2B manufacturing platform that helps companies source engineered parts. It will use part of the money for research into high-precision components. The company is also expanding into drone manufacturing and data centres.
Two Point O Capital Raises $10 Million Led by Transition VC
Two Point O Capital raised $10 million in a round led by Transition VC, with existing investor Omnivore and angel investors also taking part. The company will use the money to expand into battery storage. It will also grow its solar, energy savings and wastewater work.
Founded in 2024, Two Point O Capital helps factories and businesses adopt clean energy through flexible financing and project ownership. It uses AI to plan projects, assess risk and monitor assets. Its clients include Godrej, JK Tyre, Wipro and Phoenix Mills.
Hyeglo Beauty Raises INR 7 Crore Led by Sauce
Hyeglo Beauty raised INR 7 crore in a round led by Sauce, with Giga Capital, Consumer Collective and The Patient Capital also taking part. The brand will use the money for research, new products, brand building and hiring.
Founded by Kanupriya Ahluwalia, Delhi-based Hyeglo Beauty launched this year as an online beauty brand. It makes makeup products that include skincare ingredients. The brand works with dermatologists to develop its formulas.
Dispatch Network Raises INR 5 Crore in Pre-Seed Round Led by Antler India
Dispatch Network raised INR 5 crore in a pre-seed round led by Antler India, with angel investors also taking part. The company will use the money to grow the AI team behind its own logistics model.
Founded by Rajit Arya and Navneeth Kannan, Pune-based Dispatch Network runs a last-mile delivery network for platforms such as Zomato, Swiggy and Zepto. Its AI decides which order a rider takes next and where they wait. Monthly deliveries rose from 3,014 in June to 55,000 in October.
OBSESS Raises INR 3 Crore in Angel Round
OBSESS raised INR 3 crore in an angel round from Centricity co-founder Pushpendra Singh, Amit Goel and Harshit Vij. The company will use the money to build partnerships and grow its fitness network.
Founded in March 2026 by Tushar Sharma and Yash Kumar, Noida-based OBSESS connects users with gyms, sports venues, trainers and fitness products. Users can book sports venues and earn rewards. It also offers tools for gym owners and event organisers.
Muskaan Kapoor
Key Business News for 2 November 2026
Affle to Acquire Israeli Adtech Firm Perion for Over $420 Million
Affle has agreed to buy Israeli adtech company Perion in an all-cash deal worth more than $420 million. It will pay $11.70 per share, a 34.5% premium to Perion's closing price.
Perion runs digital advertising across channels in developed markets. Its search business suffered after Microsoft changed partner terms in 2024. Perion held $228.3 million in cash and securities as of 30 September.
UPI Sets New Record With 25.47 Billion Transactions in October
UPI processed a record 25.47 billion transactions in October, up 5.8% from September and 23% from a year earlier. Their value rose 7.4% month on month to INR 31.53 lakh crore.
Average daily value crossed INR 1 lakh crore for the first time, reaching INR 1,01,707 crore. Average daily volume rose to 822 million from 802 million in September.
MobiKwik Posts Record Q2 FY27 Profit of INR 11.8 Crore
MobiKwik reported a net profit of INR 11.8 crore for Q2 FY27, its highest ever, against a loss of INR 28.6 crore a year earlier. Its revenue from operations rose over 9% to INR 295.7 crore.
This was the Gurugram-based fintech's fourth profitable quarter in a row. Its platform GMV grew 35% to INR 59,677 crore. Loan disbursals rose 34% to INR 1,082.6 crore.
Capillary Technologies Swings to INR 22 Crore Profit in Q2 FY27
Capillary Technologies reported a net profit of INR 22 crore for Q2 FY27, after a loss of INR 9.5 crore in the previous quarter. Its revenue from operations rose 51.4% to INR 271 crore from INR 179 crore a year earlier.
The Q1 loss came from a one-time INR 33.4 crore fraud at its Czech subsidiary. Bengaluru-based Capillary sells loyalty and customer engagement software to over 465 brands in 53 countries.
Razorpay Gets Final IFSCA Licence for GIFT City Payments
Razorpay has received a final Payment Service Provider licence from the International Financial Services Centres Authority. The licence lets it move money into and out of India from GIFT City.
The licence follows in-principle approval in April 2026. It covers foreign currency transfers, multi-currency accounts, global investing and services for NRIs. Razorpay has already linked up with RBL Bank and ICICI Bank.
