Daily Indian Funding Roundup & Key News - 31 August 2026: YOGa Clean Air Raises INR 20 Crore, Groww AMC Closes INR 580 Crore State Street Investment, and More
One funding round closed on 31 August 2026, in the indoor air-quality space. Info Edge Ventures led the round. The raise is YOGa Clean Air's INR 20 crore Series A round, with Zomato/Eternal founder Deepinder Goyal among the investors.
Away from funding, Groww AMC closed a INR 580 crore strategic investment from State Street Investment Management, while Bira 91 faced a fresh insolvency threat over INR 11.8 crore in unpaid dues.
Daily Indian Startup Funding Roundup - 31 August 2026
| Startup | Sector | Funding | Round | Lead Investors |
|---|---|---|---|---|
| YOGa Clean Air | Indoor Air Quality | ₹20 Cr | Series A | Info Edge Ventures |
YOGa Clean Air Raises INR 20 Crore Series A Funding
YOGa Clean Air raised INR 20 crore in a Series A round led by Info Edge Ventures, with participation from Zomato/Eternal founder Deepinder Goyal and Three Words Capital. The funds will deepen its presence in existing markets, expand into new Tier-1 and Tier-2 cities, and extend its systems to public transport and other outdoor environments.
Founded in 2019 by Sachin Panwar, Deepak Raina and Gaurav Nagar, YOGa Clean Air is a Gurugram-based indoor air-quality company known for its patented Clean Air Bubble technology, which filters incoming air and manages carbon dioxide levels to keep indoor spaces clean. The company says its systems serve more than 5,000 families and hundreds of institutions across 11 Indian cities, and it holds two patents for its technology.
Key Business News for 31 August 2026
Groww AMC Closes INR 580 Crore State Street Strategic Investment
Groww Asset Management completed a strategic investment of up to INR 580 crore from State Street Investment Management, formally closing a deal first announced in January. The transaction gives State Street a 23% economic interest and 4.85% voting rights in Groww AMC through a mix of primary subscription and secondary share purchase.
Groww's AMC business had INR 4,119 crore in assets under management and 1.2 million unique investors as of December 2025, with AUM nearly tripling year-on-year to around INR 4,730 crore by May 2026. The partnership gives Groww access to State Street's expertise in indexing, ETFs and systematic investing, and comes as fintech-led AMCs gain ground in India's mutual fund industry.
Satvacart Shuts Down After 12 Years
Gurugram-based e-grocery startup Satvacart has shut down after 12 years of operations, with 28 August its last working day. Founder Rahul H. Saxena said in a LinkedIn post that the company had explored every realistic funding, strategic investment and acquisition option before deciding to close.
Founded in 2014, Satvacart started with milk subscriptions before moving to an inventory-led grocery model and was among the early online grocery players to turn profitable, in 2019. However, its smaller scale made it harder to compete as the market shifted towards quick commerce players such as Blinkit, Zepto and Swiggy Instamart, alongside Amazon Now and Flipkart Minutes.
NPCI To Let Users Port UPI AutoPay Mandates Across Apps
The National Payments Corporation of India is reportedly set to make UPI AutoPay interoperable, letting users shift existing mandates from one UPI app to another instead of cancelling and recreating them for subscriptions, insurance premiums or loan repayments. Merchants switching payment gateways would also be able to move mandates to a new provider without requiring customers to register again.
Both features are expected to be announced at the Global Fintech Fest in Mumbai next month. The change would not alter the bank account linked to a mandate, and comes as UPI AutoPay usage grows sharply, with the top 10 banks processing nearly 1.8 billion emandate transactions in July 2026, more than three times the volume a year earlier.
Bira 91 Faces Fresh Insolvency Threat Over INR 11.8 Crore Dues
Craft beer maker Bira 91 is facing a fresh insolvency threat after glass manufacturer HNGIL served a default notice under the IBC seeking INR 11.77 crore for customised bottles it says were manufactured but not lifted by the brewer. B9 Beverages, Bira 91's parent, has 10 days to clear the dues or show a pre-existing dispute before HNGIL can approach the NCLT.
The notice adds to Bira 91's mounting troubles, with the company out of production since September 2025 amid debt and unpaid employee and vendor dues that have reportedly grown to around INR 1,000 crore. Founder Ankur Jain stepped down from the board last month as part of a settlement, with Anicut Capital now expected to lead the company's restructuring.
Muskaan Kapoor
