Daily Indian Funding Roundup & Key News - 3 August 2026: Matel Raises ₹130 Cr, IIRM Bags ₹150 Cr, Imarticus Acquires BELLS for ₹800 Cr
Four funding rounds closed on 3 August 2026, spanning EV drivetrains, insurance distribution, coffee equipment, and EV charging infrastructure. The day's largest equity round went to Pune-based Matel Motion & Energy Solutions, which pulled in ₹130 crore (~$15 million) in a Series B led by UC Impower. On the deal front, edtech firm Imarticus Learning made its first international acquisition, buying Singapore's BELLS Institute for ₹800 crore as it prepares for a ₹1,000 crore IPO. IPO news also dominated the broader market: logistics tech firm LEAP India filed its RHP for a ₹2,480 crore public issue, while Shiprocket is reported to be days away from launching its own IPO at a ₹7,000 crore valuation.
Daily Indian Startup Funding Digest - 3 August 2026
| Startup | Sector | Funding | Round | Lead Investors |
|---|---|---|---|---|
| Matel Motion & Energy Solutions | EV / Clean Energy | ₹130 Cr (~$15 Mn) | Series B | UC Impower |
| IIRM Holdings | Insurance / Insurtech | ₹150 Cr (~$18 Mn) | Strategic | Carpediem Capital, Sanshi Fund - I |
| Kaapi Machines | HoReCa / Coffee Equipment | ₹50 Cr (~$6 Mn) | Strategic Equity | Sedna HoReCa |
| RoadGrid | EV Charging | ₹13 Cr (~$1.5 Mn) | Government Grant | Technology Development Board (TDB) |
Matel Motion & Energy Solutions Raises ₹130 Crore in Series B
Pune-based Matel Motion & Energy Solutions designs and manufactures motors, motor controllers, and integrated powertrains for electric vehicles and industrial applications. Founded in 2017 by Sunil Patel and Netaji Patro, the company supplies two-wheeler, three-wheeler, and off-road EV OEMs, and began mass production of its powertrains in April 2024.
Matel raised ₹130 crore (~$15 million) in a Series B round led by UC Impower. Catamaran joined as a new investor, and existing backer Transition VC also participated. The company had previously raised $4 million in a Series A led by Transition VC in May 2024.
The fresh capital will fund expanded manufacturing capacity, R&D, product development, and hiring across engineering and production teams, alongside select international expansion.
IIRM Holdings Raises ₹150 Crore in Strategic Capital Round
IIRM Holdings India Ltd is the holding company of India Insure Risk Management and Insurance Broking Services, India's first licensed insurance broking firm, operating since 2003. The group spans India, Singapore, Sri Lanka, the Maldives, and Kenya, serving around 2,000 corporate clients and 1,00,000 retail customers across 18 offices.
IIRM Holdings raised ₹1,500 million (~₹150 crore, roughly $18 million) through a combination of Equity Shares and Fully Convertible Warrants priced at ₹143.28 per security. The round was led by Carpediem Capital and Sanshi Fund - I, and remains subject to shareholder and regulatory approvals.
Proceeds will support business expansion, strategic acquisitions, capital expenditure, and working capital. IIRM is actively consolidating insurance brokers in India and overseas and handled gross written premiums in excess of ₹1,600 crore in FY26.
Kaapi Machines Raises ₹50 Crore from Sedna HoReCa
Kaapi Machines is a coffee equipment and services provider led by Abhinav Mathur, serving café chains, QSRs, speciality roasters, hotels, and corporate clients across India. The company is the official Indian distributor for brands including La Marzocco, Mahlkönig, Rancilio, and Probat, and also runs the Something's Brewing e-commerce platform for home brewers.
The company secured an equity infusion of ₹50 crore (~$6 million) from Sedna HoReCa, a private equity-backed B2B HoReCa solutions provider, alongside a strategic partnership.
The partnership is expected to expand Kaapi Machines' product portfolio, strengthen manufacturing capabilities, and enhance its warehousing and service infrastructure. The company also plans to explore adjacent product categories using Sedna's distribution network.
RoadGrid Secures ₹13 Crore from Technology Development Board
RoadGrid is a Bengaluru-based EV charging startup founded in 2020, developing hardware, software, and energy management solutions. Its Universal EV Charger supports two-wheelers, three-wheelers, passenger vehicles, and commercial EVs from a single platform, and the company has partnerships with VinFast, HPCL, and IOCL.
RoadGrid secured ₹13 crore (~$1.5 million) in financial assistance from the Technology Development Board (TDB) under the Department of Science and Technology, as part of a ₹27.5 crore manufacturing project.
The funds will establish a manufacturing and assembly facility with an annual capacity of 2,000 chargers, with commercial production targeted for March 2027. The facility is expected to generate around ₹100 crore in annual revenue at initial production volumes and create more than 100 jobs.
Key Business News for 3 August 2026
Imarticus Learning Acquires Singapore's BELLS Institute for ₹800 Crore Ahead of IPO
Bengaluru-based edtech firm Imarticus Learning has acquired Singapore's BELLS Institute of Higher Learning for an estimated ₹800 crore, its first international acquisition. The deal gives Imarticus access to BELLS' 1,50,000-plus alumni network, seven Singapore training centres, and government partnerships with SkillsFuture Singapore. The combined entity will operate across 25-plus offices with more than 1,100 employees. Imarticus, founded in 2012 by Nikhil Barshikar and Sonya Hooja, is gearing up for a proposed ₹1,000 crore IPO and plans to launch a BELLS School of AI focused on working professionals and enterprise teams.
Shiprocket IPO Expected Within Weeks at ₹7,000 Crore Valuation
Ecommerce enablement unicorn Shiprocket is expected to launch its IPO within one to two weeks at a valuation of approximately ₹7,000 crore, around 30% below its last private market valuation of nearly ₹10,000 crore from December 2024. The public issue comprises a ₹1,100 crore fresh issue and an OFS of up to ₹1,242.3 crore, per the updated DRHP filed with SEBI. Cofounders Gautam Kapoor, Saahil Goel, and Vishesh Khurana will participate in the OFS alongside investors including Tribe Capital and Bertelsmann. Shiprocket reduced its net loss by 9.5% to ₹38.3 crore in the first half of FY26.
KKR-Backed LEAP India Files RHP for ₹2,480 Crore IPO at $735 Mn Valuation
Logistics tech provider LEAP India has filed its Red Herring Prospectus with SEBI for a ₹2,480 crore IPO, setting a price band of ₹151 to ₹159 per share. The issue comprises a ₹480 crore fresh issue and a ₹2,000 crore OFS from KKR-linked selling shareholders, with anchor bidding on 6 August and the public issue open from 7 to 11 August. At the upper price band, the IPO values LEAP India at ₹7,004.5 crore (~$735 million). The company, founded in 2013 by Sunu Mathew, reported a 66% jump in net profit to ₹62.3 crore in FY26 with operating revenue rising 56.4% to ₹729.5 crore.
Yuvraj Singh Joins Deepak Sahni's Stealth Healthcare Startup UN:BLOC as Investor
Cricketer Yuvraj Singh has joined UN:BLOC, the new healthcare venture from serial entrepreneur Deepak Sahni, as both an investor and a founding team member. The two previously worked together at Healthians, one of India's largest at-home diagnostics networks. UN:BLOC is operating in stealth mode with its product yet to be revealed, and is in early discussions with potential participants for a pre-launch funding round. Sahni is headquartered in Gurugram and says the company will address underserved areas within Indian healthcare.
Muskaan Kapoor
