Daily Indian Funding Roundup & Key News - 5 May 2026: Jurisphere Raises ₹21 Cr, MHYTH Bags ₹5 Cr, Dream Sports Launches Dream Street
Legal tech and lifestyle brands attracted capital today as Indian startups raised funds across diverse sectors. Legal AI platform Jurisphere secured ₹21 crore, while luxury innerwear brand MHYTH bagged ₹5 crore in pre-seed funding. Meanwhile, Dream Sports launched a stock broking platform, Dream Street, as it diversifies beyond gaming.
Daily Indian Startup Funding Digest - 5 May 2026
Jurisphere.ai Raises ₹21 Crore Seed Funding
Founded in 2024 by brothers Manas and Varun Khandelwal along with IIT Delhi alumnus Sumit Ghosh, Jurisphere.ai builds AI-driven tools to streamline legal workflows for law firms and professionals. Its platform offers contract analysis, legal research, and document management solutions.
The startup raised ₹21 crore (~$2.2 million) in a seed round led by Info Edge Ventures, with participation from Flourish Ventures, Antler, and 8i Ventures.
The funds will be used to expand globally and build an AI-native lawyer network, integrating software and workflows with human expertise. The platform serves over 500 teams across law firms, enterprises, and public institutions.
MHYTH Raises ₹5 Crore Pre-Seed Funding
Founded by Mitali Rai and operating across Bengaluru and New Delhi, MHYTH is a luxury innerwear, clothing and lifestyle brand. The company positions itself at the intersection of fashion, function, and comfort, offering designer lingerie, shapewear, nightwear, and loungewear.
MHYTH secured ₹5 crore (~$600,000) in pre-seed funding, backed by a Mumbai-based single-family office led by businessman Mohammed Asief Khan. The round follows an earlier angel round in December 2024 with participation from Nine Rivers Capital.
Operating on an asset-light model with low-inventory and high-rotation approach, MHYTH targets aspirational consumers whilst laying groundwork for international expansion.
Vobiz.ai Raises ₹8.4 Crore Seed Funding
Co-founded by Suman Gandham and Vikash Srivastava, Bengaluru-based Vobiz.ai provides API-driven telephony infrastructure for AI voice agents and applications. The startup offers instant DID provisioning, low-latency SIP trunking, and real-time streaming capabilities.
The company raised ₹8.4 crore (~$1 million) in seed funding led by Piper Serica VC Fund to strengthen engineering and go-to-market capabilities.
The funds will be used to expand DID inventory and carrier partnerships, enhance real-time streaming capabilities, and introduce advanced compliance tools aligned with Indian telecom regulations.
Milky Mist Raises ₹482 Crore Pre-IPO Round
Tamil Nadu-based Milky Mist Dairy Food produces packaged dairy products including paneer, cheese, yoghurt, butter and ice cream. The company has expanded beyond southern India, benefiting from rising demand for branded dairy products.
The startup raised ₹482 crore (~$51 million) in a pre-IPO round led by Jongsong Investments, an indirect subsidiary of Temasek Holdings. The round includes ₹357 crore primary infusion and ₹125 crore secondary share sale.
Proceeds from the anticipated IPO will fund debt repayment, facility expansion in Perundurai, and investment in new product lines, including whey protein concentrate and cream cheese.
Key Business News for 5 May 2026
Dream Sports Launches Stock Broking Platform Dream Street
Dream11's parent company, Dream Sports, has launched a SEBI-registered stock broking platform, Dream Street, as it diversifies beyond gaming. The platform allows investment in stocks, ETFs, and F&O trading, with IPO investments expected soon. Dream Street features an AI investing companion, 'Veda', and targets first-time investors through simplified onboarding. This follows Dream Sports' fintech pivot after the Centre banned real money gaming last year.
Ather Energy Shares Hit All-Time High on Q4 Performance
Ather Energy shares surged 5.15% to touch an all-time high of ₹982.5 on BSE following strong Q4 FY26 results. The EV maker reported 36.3% decline in annual loss to ₹517.2 crore and 62.8% revenue growth to ₹3,671.8 crore. The company sold 2.63 lakh units in FY26, up 69% YoY, whilst expanding retail presence to 700 experience centres from 351.
CashKaro Reports 72% Revenue Growth to ₹600 Crore
Coupons and cashback platform CashKaro reported 72% YoY revenue growth to ₹600 crore in FY26 from ₹348 crore previously. The Delhi NCR-based startup trimmed EBITDA loss by 40% to ₹17.7 crore whilst marketing expenditure rose only 7.6%. Founded in 2013 by Swati and Rohan Bhargava, CashKaro operates with 1,500 partner brands and has facilitated ₹10,000 crore worth of sales to date.
upGrad to Acquire Unacademy for ₹2,055 Crore
Ronnie Screwvala-run edtech firm upGrad is acquiring Unacademy for ₹2,055 crore, marking a 90% discount from peak valuation. upGrad is also raising approximately ₹375 crore from existing backers, including Temasek, which is a common investor across both companies. The deal concludes on-again, off-again talks between the two edtech platforms.
Kissht IPO Oversubscribed 9X on Strong Institutional Demand
Digital lending platform Kissht's ₹926 crore IPO was subscribed over 9X by the final day, driven by institutional interest, with the QIB portion seeing 25X oversubscription. The company raised ₹278 crore from anchor investors ahead of the public issue. Founded in 2015, Kissht reported ₹1,560 crore operating revenue and ₹199 crore net profit for the nine months ended December 2025.
Muskaan Kapoor
