Daily Indian Funding Roundup & Key News - 23 July 2026: BusinessNext Bags $40 Mn, CARPL.ai Raises $10 Mn, Meesho Trims Q1 Loss 54%
Banking software led today's dealflow, with BusinessNext raising $40 million from ServiceNow Ventures at a $700 million valuation. Healthtech, insurtech, agritech and field services also drew capital across six rounds tracked today. CARPL.ai secured $10 million in Series A from IFC to scale its AI medical imaging marketplace. In earnings news, Meesho trimmed its Q1 FY27 net loss 54% to ₹132.8 crore, while Eternal shares climbed as brokerages cheered its June-quarter numbers.
Daily Indian Startup Funding Digest - 23 July 2026
| Startup | Sector | Funding | Round | Lead Investors |
|---|---|---|---|---|
| BusinessNext | Banking Software (SaaS) | ~₹334 Cr ($40 Mn) | Series C | ServiceNow Ventures |
| CARPL.ai | Healthtech (AI) | ~₹96 Cr ($10 Mn) | Series A | IFC (World Bank Group) |
| Farm Watt Innovations | Agritech / Bioenergy | ₹32.5 Cr (~$3.36 Mn) | Undisclosed | IAN Alpha Fund, Rainmatter |
| Wiffy | Field Services | ~₹25 Cr ($3 Mn) | Series A | Earth Fund |
| NeuralKart | Insurtech (AI) | ₹2.35 Cr (~$0.28 Mn) | Seed | Inflection Point Ventures |
| UpKraft | Edtech | ₹1.6 Cr (~$0.19 Mn) | Pre-seed | PedalStart |
BusinessNext Raises $40 Million Series C at $700 Million Valuation
Noida-based BusinessNext runs an autonomous operating platform for banks and financial institutions. Its software is used by more than one million bankers across over 75,000 branches globally, with clients including HDFC Bank, Axis Bank and Kotak Mahindra Bank.
BusinessNext raised $40 million (about ₹334 crore) from ServiceNow Ventures, valuing it at $700 million. That is nearly four times its last reported valuation of $181 million in 2021, when it raised $16 million. ServiceNow has acquired roughly a 5% stake as part of the deal.
BusinessNext will use the capital to strengthen its autonomous banking platform, enhance Private AI capabilities and expand into Australia and New Zealand. Founded by Nikhil Singh, it reported ₹312 crore in revenue and ₹3.1 crore in net profit in FY25, and competes with Salesforce, Zoho and Freshworks in banking software.
CARPL.ai Raises $10 Million Series A Led by IFC
CARPL.ai is a healthtech SaaS startup that lets hospitals and radiologists deploy, manage and monitor multiple medical imaging AI applications through a single interface. Its marketplace hosts more than 300 AI applications from over 100 vendors.
CARPL.ai raised $10 million (about ₹96 crore) in Series A led by the International Finance Corporation, the World Bank Group's private-sector arm. Existing investor Stellaris Venture Partners and undisclosed investors also participated. It had earlier raised $6 million in 2023.
Founder Vidur Mahajan said the funds will go towards product development, strengthening its technology stack and expanding global sales and delivery teams. CARPL.ai currently serves 30 hospitals and medical centres across markets including India, the US, the UK, Australia and the Middle East.
Farm Watt Innovations Raises ₹32.5 Crore Co-Led by IAN Alpha Fund and Rainmatter
Founded in 2023 by Kumar Neelendu, Farm Watt Innovations is a climate-focused agribusiness startup. It aggregates and supplies agricultural biomass to compressed biogas (CBG) plants and other bioenergy facilities, aiming to curb crop residue burning.
Farm Watt Innovations raised ₹32.5 crore (~$3.36 million) in a round co-led by IAN Alpha Fund and Rainmatter. The capital will strengthen its biomass supply chain, build additional aggregation hubs, and fund machinery and hiring.
Farm Watt currently operates 15 biomass aggregation hubs across six states and plans to expand into states including Punjab, Haryana, Uttar Pradesh and Maharashtra. It also intends to develop its own portfolio of CBG, bio-pellet and biochar plants.
Wiffy Raises $3 Million Series A Led by Earth Fund
Mumbai-based Wiffy operates a field services platform for home improvement and consumer durables brands. Founded in 2019 by Vikram Sharma and Deepanshu Goyal, it handles installation, maintenance and warranty services across more than 100 cities.
The startup raised $3 million (about ₹25 crore) in Series A led by Earth Fund, with participation from Japan's Persol Holdings and existing investor Capria Ventures. It had earlier raised ₹25 crore in a pre-Series A round in July 2024.
Wiffy will use the funds to expand its technology platform, strengthen AI-powered workforce management and deepen enterprise partnerships. It runs a network of over 5,000 certified technicians and partners with more than 100 brands, including IKEA, Panasonic, Godrej and Amazon.
NeuralKart Raises ₹2.35 Crore Seed Round Led by Inflection Point Ventures
Bengaluru-based NeuralKart is an AI insurtech startup building platforms for insurance operations and industrial safety. Founded in 2024 by Manoj Raju, Shreyas R. Halageri and Vidvath Kamireddy, it serves enterprise customers in India and overseas.
NeuralKart raised ₹2.35 crore in a seed round led by Inflection Point Ventures. The proceeds will fund product development, AI and machine learning engineering, customer acquisition and go-to-market expansion.
Its InsureMind platform automates underwriting, claims, renewals and audits, while its FieldSense platform uses computer vision with drone, CCTV and sensor data to flag safety risks at industrial sites. NeuralKart claims a 100% customer retention rate since inception.
UpKraft Raises ₹1.6 Crore Pre-Seed Led by PedalStart
Bengaluru-based UpKraft is an AI-powered extracurricular learning platform. Co-founded in July 2025 by Tejasvi Singh Kushwah, Varun Mangal and Kritika Varandani, it offers structured learning at home, in residential communities and in schools through verified expert tutors.
UpKraft raised ₹1.6 crore in a pre-seed round led by accelerator PedalStart, with participation from a group of angel investors.
UpKraft will use the funds to accelerate AI product development, expand across Bengaluru and Gurugram, and build teams across product, technology, growth and tutor operations. Over the next 12 to 18 months, it plans to grow student enrollments and improve learning outcomes.
Muskaan Kapoor
Key Business News for 23 July 2026
Meesho Trims Q1 FY27 Net Loss 54% to ₹133 Crore
Ecommerce company Meesho narrowed its net loss for the June quarter (Q1 FY27) by 54% year-on-year to ₹132.8 crore, from ₹289.4 crore a year earlier. Sequentially, the loss fell 20% from ₹166.4 crore. Operating revenue rose 48% YoY and 5% QoQ to ₹3,712.8 crore. Including other income of ₹114 crore, total income for the quarter stood at ₹3,826.4 crore.
Eternal Shares Rise as Brokerages Cheer Q1 Growth and Blinkit Margins
Shares of Eternal, parent of Zomato and Blinkit, jumped as much as 4.5% on the BSE to an intraday high of ₹296.15 before closing 1.1% higher at ₹286.70, valuing it at about ₹2,76,675 crore. The rally followed Eternal's strong Q1 FY27 earnings, with JPMorgan, Jefferies, Nomura and Citi retaining positive ratings and target prices between ₹350 and ₹506. Eternal posted a consolidated net profit of ₹92 crore, up nearly 3.7 times from ₹25 crore a year earlier, while revenue rose 182% YoY to ₹20,211 crore.
