Daily Indian Funding Roundup & Key News - 28 October 2026: Simplismart Raises $14 Million, Jio Platforms Lists at 21% Premium
Simplismart raised $14 million and three more startups closed rounds, as Jio Platforms listed at a 21% premium and Hitesh Oberoi stepped down as Info Edge CEO.
Four funding rounds were announced on 28 October 2026, in sectors ranging from AI infrastructure to esports and skincare. Dallas Venture Capital, Anand Mahindra and Globalway were among the day's lead investors. Jio Platforms also made its stock market debut at a 21% premium.
Daily Indian Startup Funding Roundup - 28 October 2026
| Startup | Sector | Funding | Round | Lead Investors |
|---|---|---|---|---|
| Simplismart | AI Infrastructure | $14 Mn | Series B | Dallas Venture Capital |
| Let's Game Now | Esports | ₹30 Cr | Undisclosed | Anand Mahindra, Bestvantage Investments |
| QwikBuild | Enterprise AI | $2.3 Mn | Pre-Seed | Globalway |
| CHOSEN | Skincare | Undisclosed | Series A Extension | Wellbeing Nutrition Founders |
Simplismart Raises $14 Million in Series B Round Led by Dallas Venture Capital
Simplismart raised $14 million in a Series B round led by Dallas Venture Capital, with NVIDIA, Accel, Shastra VC and Micromax also investing. The startup will use the money to expand in the US and other markets, grow its team and build out its platform.
Founded in 2022 by Amritanshu Jain and Devansh Ghatak, Bengaluru-based Simplismart helps companies run and scale AI models while keeping computing costs down. Its customers include InVideo, HeyGen and Ema. The company says its annual revenue run rate has grown 14 times in six months.
Let's Game Now Raises INR 30 Crore Led by Anand Mahindra and Bestvantage Investments
Let's Game Now raised INR 30 crore in a round co-led by Anand Mahindra and Bestvantage Investments, with a UAE-based family office also investing. The company will use the money to build out its Indian Super Gaming League.
Founded in 2018 by Santanu Basu, Let's Game Now runs online and offline esports tournaments that connect brands with gamers. It has organised more than 2,000 events and works across South Asia and Southeast Asia. Its gaming community has more than 14 lakh members.
QwikBuild Raises $2.3 Million in Pre-Seed Round Led by Globalway
QwikBuild raised $2.3 million in a pre-seed round led by Japan's Globalway, with Blume Ventures, Marsshot and DeVC also investing. Groww founder Lalit Keshre and Cure.fit founder Ankit Nagori joined as angel investors. QwikBuild will also form a joint venture with Globalway to enter Japan.
Founded by former slice executive Pradeep Ayyagari, Bengaluru-based QwikBuild builds custom software and AI agents for businesses in days rather than months. Companies can use it to replace old systems or add custom tools on top of software such as SAP and Salesforce. It serves clients in the US, Singapore and India.
CHOSEN Raises Series A Extension From Wellbeing Nutrition Founders
CHOSEN raised an undisclosed amount in an extension of its Series A round from Wellbeing Nutrition founders Avnish Chhabria and Saurabh Kapoor. The brand will use the money for research, new skincare and nutrition products, and clinical studies.
Founded in 2020 by Renita Rajan, Chennai-based CHOSEN makes skincare products for Indian skin. It sells more than 50 products, which over 2,000 doctors prescribe. The brand earlier raised a $5 million Series A led by Fireside Ventures.
Muskaan Kapoor
Key Business News for 28 October 2026
Jio Platforms Lists at 21% Premium, Valued at INR 12.5 Lakh Crore
Jio Platforms listed at INR 1,358 per share on the NSE on 28 October, about 21% above its IPO price of INR 1,119. The listing valued the company at about INR 12.5 lakh crore.
The INR 30,213 crore IPO, India's biggest, was subscribed 22.19 times overall. The issue was made up entirely of new shares, with most of the money going towards repaying debt at Reliance Jio Infocomm.
Meesho's Q2 FY27 Loss Narrows 68% to INR 132 Crore
Meesho reported a net loss of about INR 132 crore for Q2 FY27, down 68% from INR 411.4 crore a year earlier. Its operating revenue rose 34% to INR 4,131.6 crore.
The loss was roughly flat compared with the previous quarter. Part of the yearly improvement came because last year's quarter included one-time costs and a tax charge.
Hitesh Oberoi Steps Down as Info Edge CEO, Sanjeev Bikhchandani to Take Over
Hitesh Oberoi will step down as Info Edge's managing director and CEO on 2 December, after nearly 27 years with the company. Co-founder Sanjeev Bikhchandani will take over as executive vice chairman, managing director and group CEO from 3 December.
Oberoi will stay on the board as a non-executive director and plans to spend more time on education, investing and philanthropy. The changes need shareholder approval. Info Edge also reported an 87% rise in its Q2 profit to INR 650 crore.
Astrotalk's FY26 Profit Jumps 10 Times to INR 222 Crore
Astrology platform Astrotalk reported a net profit of INR 222 crore for FY26, up from INR 22 crore in FY25. Its operating revenue rose 55% to INR 1,823 crore.
Revenue from outside India grew 2.6 times to INR 621 crore, making up 34% of the total. Consultations brought in most of the revenue at INR 1,657 crore. The company more than doubled its advertising spend to INR 823 crore.
