Daily Indian Funding Roundup & Key News - 28 April 2026: Snabbit Bags $56 Mn, Peak XV Exits MobiKwik, and More
Home services and B2B SaaS startups led today's funding activity with 6 rounds totalling over ₹700 crore. Snabbit grabbed the largest cheque at $56 million for its quick home services platform. Peak XV Partners exited MobiKwik through a ₹130 crore block deal, whilst Eternal reported strong Q4 results driven by Blinkit's growth.
Daily Indian Startup Funding Digest - 28 April 2026
| STARTUP | SECTOR | FUNDING | ROUND | LEAD INVESTORS |
|---|---|---|---|---|
| Snabbit | Quick-Service Home Help | $56 Mn (~₹467 Cr) | Series D | Susquehanna Venture Capital, Mirae Asset Ventures |
| HyugaLife | Health & Nutrition / D2C | $10.5 Mn (~₹100 Cr) | Series A | IvyCap Ventures |
| Battery Smart | EV / Battery Swapping | $15 Mn (~₹125 Cr) | Debt | Mirova (Natixis) |
| House of Chikankari | D2C / Ethnic Wear | ₹25 Cr (~$2.6 Mn) | Series A | Cap Alpha Ventures |
| Credilio (novio) | Fintech / Credit Cards | ₹100 Cr (~$10.5 Mn) | Series A | Cornerstone Ventures |
| Mojro | AI Logistics | $5.5 Mn (~₹46 Cr) | Series A | IAN Alpha Fund, Dallas Venture Capital |
| Kovon | Cross-Border Workforce Mobility | $250K | Pre-Seed | TDV Partners |
Snabbit Raises $56 Million in Series D
Snabbit raised $56 million (~₹527 crore) in Series D funding co-led by Susquehanna Venture Capital, Mirae Asset Venture Investments, and Bertelsmann India Investments. Existing investors Nexus Venture Partners and Lightspeed Ventures also participated, alongside new backer FJ Labs. Total funding raised now stands at $112 million.
The capital will extend the runway to 3.5-4 years while enabling expansion to 250-300 micromarkets over the next 12-18 months. The company plans to launch in adjacent categories like home cooks and claims an annualised revenue run rate of $35-40 million.
Kovon Raises $250K in Pre-Seed Round
Cross-border workforce mobility platform, Kovon, has raised $250,000 in a pre-seed funding round led by TDV Partners. Founded by Bibartan Roy and Swayamjeet Das, Kovon is building a platform to connect blue and grey-collar Indian workers with international job opportunities across healthcare, hospitality, construction, and logistics sectors in Europe, the UK, and the Middle East.
The fresh capital will be deployed towards product development, employer partnerships, candidate acquisition, and building the skilling and training ecosystem. The company also plans to hire across technology, operations, and partnerships.
HyugaLife Raises ₹100 Crore Series A
HyugaLife secured ₹100 crore (~$10.6 million) in Series A funding led by IvyCap Ventures, with participation from First Bridge Fund. Previous backers include Peak XV and Spring Marketing Capital, alongside cricketer KL Rahul.
Fresh capital will strengthen AI-driven personalisation features, expand its dark store network, and establish offline presence. The company also manufactures products under the Hyuga brand and offers an 'H-Tested' programme for product authenticity through third-party labs.
Battery Smart Secures $15 Mn in Debt from Mirova
Battery Smart, a battery swapping network for electric vehicles, has raised $15 million in debt funding from Mirova, an affiliate of Natixis Investment Managers. The proceeds will be used to expand its battery-as-a-service (BaaS) infrastructure and strengthen its network of partner-led stations across urban and semi-urban markets.
The startup currently operates more than 1,600 partner-led stations across 50 cities, focused on last-mile delivery and passenger mobility. To date, Battery Smart has raised around $192 million in total funding, including a $65 million Series B and a $29 million extended Series B. It reported a 52% year-on-year increase in operating revenue to ₹249 crore in FY25 and has recently achieved operating break-even and EBITDA positivity.
Credilio Raises ₹100 Crore to Scale FD-Backed Credit Cards
Credilio raised ₹100 crore (~$10.5 million) in Series A funding led by existing backer Cornerstone Ventures, with participation from Shepherd Hill, Roots Ventures, and ESV-Arthya AIF. The round valued the company at ₹300 crore pre-money.
Fresh funds will scale its UPI-first credit card app whilst building new customer acquisition channels and brand presence. The company targets credit invisible consumers in Tier II-V cities, aiming to onboard 5 lakh users by next year from its current base of 1 lakh.
House of Chikankari Raises ₹25 Crore Series A
Founded in 2020 by mother-daughter duo Aakriti Rawal and Poonam Rawal, Delhi-based House of Chikankari specialises in hand-embroidered chikankari apparel. The brand blends traditional Lucknowi chikankari with contemporary designs, selling via its website, app, and marketplaces like Myntra.
The startup raised ₹25 crore (~$2.6 million) in Series A funding led by Cap Alpha Ventures. The company claims to empower over 10,000 women artisans and achieved ₹50 crore ARR in FY26 with 50% YoY growth whilst serving 2 lakh customers.
Capital will expand product portfolio, strengthen omnichannel presence with offline retail push, and grow global footprint. The brand ships to over 20 countries and sees 9 lakh monthly website sessions, competing with VivKala, House of Karo, and Libas.
Mojro Closes $5.5 Million Series A with Additional Funding
Mojro raised an additional $2.5 million from Dallas Venture Capital, taking the total Series A size to $5.5 million (~₹46 crore). This follows a $3 million raise in February led by IAN Alpha Fund with participation from 1Crowd and existing investors.
Fresh capital will fuel global expansion and product innovation as the company claims to reduce logistics costs by up to 20% for clients. Mojro earns over 60% revenue from international markets, including the US, Malaysia, Singapore, and the Philippines.
Muskaan Kapoor
Key Business News for 28 April 2026
Peak XV Exits MobiKwik Through ₹130 Crore Block Deal
VC firm Peak XV Partners fully exited listed fintech major MobiKwik through a ₹130 crore block deal, selling 6.08 million shares at ₹214 each. The shares were acquired by Florintree Advisors, Viridian Asset Management, Dymon Asia, and Karma Capital. Peak XV held 7.89% stake at the end of March and first invested in MobiKwik in 2013, gradually reducing holdings since the company's December 2024 IPO.
Eternal Q4 Profit Surges 4.5X to ₹174 Crore on Blinkit Growth
Zomato parent Eternal reported consolidated net profit of ₹174 crore in Q4 FY26, up 346% YoY, driven by Blinkit's strong performance. Operating revenue jumped 196% YoY to ₹17,292 crore, whilst Blinkit's net order value grew 95% to ₹14,386 crore. Quick commerce arm achieved positive adjusted EBITDA of ₹37 crore versus ₹178 crore loss last year, adding 216 stores to reach 2,243 total outlets.
WishCare Explores Majority Stake Sale at ₹3,000 Crore Valuation
Kolkata-based beauty brand WishCare is exploring a majority stake sale at a ₹3,000-3,500 crore valuation through O3 Capital. The company, founded in 2020 by the Kothari family, specialises in science-forward skincare and hair products sold through Nykaa, Purplle, and Amazon. WishCare clocked ₹350 crore revenue and ₹100 crore EBITDA in FY26, with potential strategic buyers including Marico, ITC, and L'Oréal being evaluated.
Reliance Plans ₹1.6 Lakh Crore Data Centre Investment in Visakhapatnam
Reliance Industries will invest ₹1.6 lakh crore to establish a 1.5 GW data centre cluster in Andhra Pradesh's Visakhapatnam, marking India's largest data centre investment. The project includes ₹1.08 lakh crore for the cluster and ₹51,300 crore for a 9,000 MW-peak solar battery storage system. First phase operations will commence by October 2028, with the company requesting 935 acres for the project alongside a desalination plant and cable landing station.
MobiKwik Secures NBFC Licence to Boost Lending Capabilities
Listed fintech major MobiKwik received an NBFC licence from the RBI, enabling direct lending capabilities beyond its payments business. The approval allows the company to capture interest income directly and offer both secured and unsecured loans to a broader consumer base. MobiKwik shares surged 11% following the announcement, as the company turned profitable in Q3 FY26 with ₹4 crore net profit versus ₹55.3 crore loss previously.
Muskaan Kapoor
