Daily Indian Funding Roundup and Key News – 23 June 2025: EVs, Biotech, and Strategic Moves Lead the Way

Here’s a quick roundup of the key startup fundings in India on 23rd June 2025. From biotech to co-living and EV infrastructure, startups across sectors attracted strong investor interest.

Daily Indian Startup Funding Digest (23 June 2025)

Truliv Receives Strategic Investment from BCCL

Chennai-based co-living startup Truliv has secured a strategic investment from Bennett, Coleman & Co. Ltd (BCCL). Though the investment amount remains undisclosed, this partnership is expected to boost Truliv’s media visibility and brand equity as it expands across southern India.

Rabitat Raises INR 40 Cr in Series A

Mumbai-based D2C baby products brand Rabitat has raised INR 40 crore in its Series A round led by RPSG Capital Ventures and DSG Consumer Partners. The brand plans to utilise the funds to enhance product innovation, marketing efforts, and expand distribution channels across India.

Kamath Brothers Acquire INR 250 Cr Stake in InCred Holdings

Nithin Kamath and Nikhil Kamath, founders of Zerodha, have acquired an INR 250 crore minority stake in InCred Holdings, marking a major move into India’s growing lending and financial services market. The acquisition is part of InCred's broader strategy to strengthen its capital base and scale operations.

Utopia Therapeutics Raises $1.5 Million in Seed Round

Hyderabad-based biotech startup Utopia Therapeutics has raised $1.5 million in seed funding from Whale Tank.

EKA Mobility Raises INR 200 Crore via Convertible Preference Shares

Pune-based EV manufacturer EKA Mobility has raised INR 200 crore through convertible preference shares, with Enam Holdings leading the investment. The funds will be used to expand its manufacturing facilities and boost production of electric buses and commercial vehicles.

Kazam Secures $6.2 Million Series B Funding

Electric vehicle infrastructure platform Kazam has raised $6.2 million in Series B funding. The round saw participation from Avaana Climate Fund, Quantum Energy, and other investors. The Bengaluru-based startup will use the capital to bolster its tech stack and scale EV charging networks pan-India.

Kazam Raises $6.2 Million to Expand EV Charging Globally

Kazam, India’s fastest-scaling EV energy-tech company, has raised $6.2 million in Series B funding from the International Finance Corporation (IFC) and existing investors Vertex Ventures SEA & India and Avaana Capital Advisors.

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Key News Highlights – 23 June 2025

Meesho completes reverse-flip merger, DRHP expected soon

Meesho has finalised its reverse-flip structure, merging its U.S. entity with the Indian arm following National Company Law Tribunal nod. The SoftBank-backed firm will now be fully headquartered in India, paying an estimated $280–300 million in U.S. taxes. A Draft Red Herring Prospectus is expected to be filed within 2–3 weeks as part of its pre-IPO process.

PharmEasy founders launch 'All Home' at $120 million valuation

Dharmil Sheth, Dhaval Shah and Hardik Dedhia, co-founders of PharmEasy, have pivoted into home improvement, launching All Home, a tech-driven, omni-channel platform for interior design and home renovation. The platform has raised an undisclosed sum at a $120 million valuation, led by Bessemer Venture Partners with support from several prominent angels.

PhonePe preparing $1.5 billion IPO, draft papers expected by August

Reuters and Bloomberg report that PhonePe, India’s leading digital payments platform owned by Walmart, is preparing for an IPO that could raise up to $1.5 billion at a valuation close to $15 billion. Filing of the draft prospectus is anticipated by August, with Kotak Mahindra, JPMorgan Chase, Citi, and Morgan Stanley on board as advisers.

Prosus values IPO-bound Urban Company at $2.4 billion

In its FY2025 annual report, Prosus, which holds a stake in services platform Urban Company, has pegged its fair valuation at $2.4 billion ahead of its planned IPO. This consensus reflects investor optimism in the home-services sector

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