Daily Indian Funding Roundup & Key News - 3 November 2026: GIVA Raises Over $100 Million, India Becomes ChatGPT's Largest Market
GIVA raised over $100 million and four more startups closed rounds, as India became ChatGPT's largest market and Apple posted record revenue in India.
Five funding rounds were announced on 3 November 2026, in sectors ranging from jewellery and wealth management to food and premium grocery. Multiples PE, Flourish Ventures and V3 Ventures were among the day's lead investors. OpenAI also said India has become ChatGPT's largest market, while Apple posted record revenue in India.
Daily Indian Startup Funding Roundup - 3 November 2026
| Startup | Sector | Funding | Round | Lead Investors |
|---|---|---|---|---|
| GIVA | Jewellery | $100 Mn | Undisclosed | Multiples PE |
| PowerUp Money | Wealthtech | $10 Mn | Undisclosed | Flourish Ventures |
| The Croffle Guys | Food and Beverage | ₹14 Cr | Undisclosed | V3 Ventures |
| Unify Foodworks | Food Service | ₹5 Cr | Seed | Undisclosed |
| Solgram | Grocery | $1 Mn | Pre-Seed | DSG Consumer Partners, Saama Capital |
GIVA Raises Over $100 Million Led by Multiples PE
GIVA raised over $100 million in a round led by Multiples Alternate Asset Management, with other investors also taking part. The company will use the money to open more stores, strengthen manufacturing and grow its leadership team. It plans to reach over 1,000 stores in three to five years.
Founded in 2019 by Ishendra Agarwal, Bengaluru-based GIVA sells silver, gold and lab-grown diamond jewellery. It runs over 400 stores across India and Sri Lanka and also sells online. Its FY26 revenue was around INR 865 crore, though it has not yet filed its FY26 accounts.
PowerUp Money Raises $10 Million Led by Flourish Ventures
PowerUp Money raised $10 million in a round led by Flourish Ventures. Existing investors Peak XV Partners, Accel, Blume Ventures and Kae Capital also took part. The company will use the money to build AI-led wealth tools and expand its advisory services.
Founded in 2025 by Uni Cards co-founder Prateek Jindal, Bengaluru-based PowerUp Money offers mutual fund advice and wealth management. Its PowerUp Elite subscription crossed 1 lakh paid members within a year of launch. The platform serves over 1.5 million users.
The Croffle Guys Raises INR 14 Crore Led by V3 Ventures
The Croffle Guys raised INR 14 crore in a round led by V3 Ventures, with N.A.N Partners also taking part. The round values the company at INR 100 crore. It will use the money to open over 40 new outlets, mainly in Mumbai and Delhi.
Founded in 2025 by Rahul Vohra, Annanya Agarwal, Amay Thakkar and Veer Pinto, Mumbai-based The Croffle Guys sells croffles, a mix of croissant and waffle. It grew from two outlets to eight in about a year. The brand earlier raised INR 2.5 crore on Shark Tank India.
Unify Foodworks Raises INR 5 Crore in Seed Round
Unify Foodworks raised INR 5 crore in a seed round. The company will use the money to open more Moe's Casa Mexicana and Carvel outlets across Delhi NCR. It will also invest in supply chain, logistics and staff training.
Founded by Sumer Sethi and launched in November 2024, Unify Foodworks holds the India franchise rights for Moe's Casa Mexicana and Carvel. Moe's serves burritos, bowls and tacos, while Carvel is an American ice cream brand. The company aims to run more than 100 stores across India.
Solgram Raises Over $1 Million in Pre-Seed Round Led by DSG Consumer Partners and Saama Capital
Solgram raised over $1 million in a pre-seed round led by DSG Consumer Partners and Saama Capital, with hotelier Kapil Chopra also taking part. The company will use the money to expand its cold storage, upgrade its technology and grow across Delhi NCR.
Founded by Shashank Shekhar Sharma, Gurugram-based Solgram runs a premium grocery platform for fresh produce, dairy, meat and seafood. It keeps products cold from sourcing to delivery. The company raised this round within a quarter of its launch.
Muskaan Kapoor
Key Business News for 3 November 2026
India Becomes ChatGPT's Largest Market by Weekly Users
India has become ChatGPT's largest market globally by weekly active users, said OpenAI India MD Prabhjeet Singh. The number of Indian users has doubled since January 2026.
In February, OpenAI said India had more than 100 million weekly ChatGPT users. The company is now expanding ads in India to support free and cheaper plans. It is also expected to share UPI and payment plans in the coming weeks.
Apple Posts Record Revenue in India for the September Quarter
Apple reported record revenue in India for the quarter ended 26 September. iPhone, Mac and services sales all hit new highs in the country.
Globally, Apple's revenue rose 12% to $114.5 billion in the quarter. India also saw a record number of iPhone upgrades. Apple recently launched Apple Pay in India, with Axis Bank as its first partner.
ideaForge Returns to Profit in Q2 FY27
Drone maker ideaForge reported a net profit of INR 6.5 crore for Q2 FY27, against a loss of INR 19.62 crore a year earlier. Its revenue from operations rose 123.9% to INR 91.28 crore.
For the first half of FY27, its revenue nearly tripled to INR 160 crore. Its net profit for the half year fell 10.4% to INR 3.87 crore.
Fireside Ventures Co-Founder Vinay Singh to Exit
Vinay Singh, co-founder and partner at Fireside Ventures, will leave the firm after nearly a decade. He plans to explore agentic commerce and how AI is changing the way people shop.
Fireside invests in consumer brands and has backed boAt, Honasa Consumer and The Sleep Company. In December 2025, it closed its fourth fund at INR 2,265 crore.
Chinese Partner's Nominee Leaves Board of Tata's Agratas
Gordon Louis Chin, the board nominee of Chinese partner AESC Apollo, has left the board of Tata Group's Agratas. The exit comes as the battery maker prepares to start commercial production.
Founded in 2023, Agratas is building a 20 GWh battery plant in Gujarat and a 40 GWh plant in the UK. Jaguar Land Rover will be its first major customer under an INR 5,000 crore deal.
