Daily Indian Funding Roundup & Key News - 7 August 2026: BlissClub Raises ₹160 Cr, Mitti Labs Bags $9.5 Mn, Ola Electric Q1 Loss Narrows
Four funding rounds closed on 7 August 2026, spanning climate tech, D2C apparel, and infrastructure robotics. The headline raise is BlissClub's ₹160 crore Series B led by Singularity AMC, while climate tech startup Mitti Labs pulled in $9.5 Mn from Aramco Ventures to expand its water-efficient rice cultivation programme. On the markets front, Ola Electric reported a narrowed Q1 FY27 net loss of ₹336 crore even as revenue fell 45% year-on-year, and PE giant TPG offloaded Shadowfax shares worth ₹301 crore in a bulk deal.
Daily Indian Startup Funding Digest - 7 August 2026
| Startup | Sector | Funding | Round | Lead Investors |
|---|---|---|---|---|
| BlissClub | D2C / Athleisure | ₹160 Cr (~$16.8 Mn) | Series B | Singularity AMC |
| Mitti Labs | Climate Tech / AgriTech | ~₹90 Cr ($9.5 Mn) | Series A | Aramco Ventures |
| Solinas Integrity | Robotics / Water Infrastructure | ~₹46 Cr ($5.5 Mn) | Series A1 | Hero Enterprise Partner Ventures, Mela Ventures |
BlissClub Raises ₹160 Crore in Series B
BlissClub is a Bengaluru-based direct-to-consumer athleisure and functional apparel brand founded in 2020 by Minu Margeret. The company sells leggings, tops, outerwear, and accessories through its own website, marketplaces, and more than 40 offline retail stores across India, and recently launched a menswear line.
The company raised ₹160 crore (~$16.8 Mn) in a Series B round led by Singularity AMC. Founder Minu Margeret and her partner Vidit Aatrey also participated, alongside existing investors Elevation Capital and Eight Roads Ventures. BlissClub had previously raised $15 Mn in a Series A in May 2022.
The fresh capital will be used to expand into new categories, scale its offline retail presence, strengthen product development, and hire talent. In FY25, BlissClub's operating revenue grew 51% to ₹131.5 crore, and the company cut its losses by more than half during the same period.
Mitti Labs Raises $9.5 Mn Series A for Water-Efficient Rice Farming
Mitti Labs is a climate tech startup, founded in 2023 by Xavi Laguarta Soler, Devdut Dalal, and Nate Torbick, with operations in Bengaluru and the US. It helps farmers adopt alternate wetting and drying (AWD) irrigation — a technique that cuts water use by close to 40% and methane emissions by more than half — and converts verified savings into carbon credits sold to enterprises.
The startup raised $9.5 Mn (~₹90 crore) in a Series A round led by Aramco Ventures. Godrej Industries Group, Cisco Foundation, Volta Circle, and existing backer Lightspeed India also participated in the round.
Proceeds will fund expansion of operations across India and the launch of greenfield projects in the Philippines and Indonesia, with a focus on scaling its AWD programme. The startup says it currently works with more than 150 million smallholder rice farmers.
Solinas Integrity Raises $5.5 Mn Series A1 for Underground Infrastructure Robotics
Solinas Integrity is a Chennai-based robotics startup incubated at IIT Madras in 2018. It develops AI-powered robots and software for inspecting, cleaning, and managing underground water and wastewater networks, with its systems deployed across at least 35 cities and 15 states in India.
The company raised $5.5 Mn (~₹46 crore) in a Series A1 round led by Hero Enterprise Partner Ventures and Mela Ventures, with Luthra Group also joining. Existing backers SVL-SME Fund (managed by SBI Ventures), Rainmatter, and 8X Ventures Fund I made follow-on investments.
Funds will go towards increasing manufacturing capacity, developing new products, and strengthening software infrastructure. Solinas also plans to enter more Indian states and expand its sales in the Middle East and Southeast Asia.
Muskaan Kapoor
Key Business News for 7 August 2026
Ola Electric Q1 FY27: Loss Falls to ₹336 Cr, Revenue Down 45% YoY
Ola Electric narrowed its net loss by 22% year-on-year to ₹336 crore in Q1 FY27, down from ₹428 crore a year earlier and ₹500 crore in the previous quarter. Operating revenue, however, fell 45% YoY to ₹455 crore, though it recovered 72% on a sequential basis from ₹265 crore in Q4 FY26.
The Bhavish Aggarwal-led company said its market share in the electric two-wheeler segment improved to 8.4% in Q1 FY27 from 5.1% in Q4 FY26, with registrations rising 97% QoQ. Ola Electric said it is targeting a steady-state operating cost base of around ₹300 crore per quarter as it works towards operating breakeven.
TPG Offloads Shadowfax Shares Worth ₹301 Cr in Bulk Deal
PE firm TPG, via its entity NewQuest Asia Fund IV, sold 1.25 crore shares of listed logistics startup Shadowfax at ₹240.46 apiece, raking in ₹300.6 crore in an open-market bulk deal. Hong Kong-based hedge fund Oxbow acquired 69.3 lakh shares at ₹240.25 each for ₹166.5 crore; the buyer for the remaining shares was not disclosed.
The deal follows Flipkart selling Shadowfax shares worth ₹690 crore and Eight Roads offloading shares worth ₹964.4 crore in recent weeks, all as early investors book profits amid a 43.5% surge in the stock over the past three months. Shadowfax reported an 8x jump in net profit to ₹65.4 crore in Q1 FY27 and raised its FY27 revenue growth guidance to 38–40%.
LEAP India IPO Opens at 24% Subscription on Day 1
Logistics tech provider LEAP India's IPO attracted bids for 2.71 crore shares against a total offer size of 11.50 crore shares, translating to 24% subscription as of 14:30 IST on day one. Qualified institutional buyers (QIBs) were the most active, subscribing 61% of their quota, while retail and non-institutional investors subscribed just 10% and 6% respectively. Ahead of the IPO, LEAP India raised ₹743.6 crore from anchor investors and ₹371.3 crore in a pre-IPO placement from GIC's subsidiary Gamnat, Dymon Asia Multi-Strategy Investment, and co-founder Sunu Mathew. The company is valued at approximately ₹7,004.5 crore (~$735 Mn) at the upper end of the price band and is expected to list on NSE and BSE on 14 August 2026.
