Daily Indian Funding Roundup & Key News - 9 November 2026: MakeMyTrip India Gets SEBI Nod for IPO, PhysicsWallah Links Staff Cuts to AI
O-Health got backing from Apollo's Sangita Reddy, as MakeMyTrip India won SEBI's IPO nod, PhysicsWallah linked staff cuts to AI and ED searched CoinDCX.
One funding deal was announced on 9 November 2026, as deal activity stayed slow after the Diwali weekend. Bengaluru-based clinical AI startup O-Health received backing from Apollo Hospitals' Dr Sangita Reddy. MakeMyTrip's India arm also received SEBI's nod for its IPO, while PhysicsWallah linked staff cuts to AI.
Daily Indian Startup Funding Roundup - 9 November 2026
| Startup | Sector | Funding | Round | Lead Investors |
|---|---|---|---|---|
| O-Health | Healthtech | Undisclosed | Strategic | Dr Sangita Reddy |
O-Health Raises Strategic Funding From Apollo's Dr Sangita Reddy
O-Health raised an undisclosed amount from Dr Sangita Reddy, Joint Managing Director of Apollo Hospitals. The startup will use the money to build its AI models and clinical hardware.
Bengaluru-based O-Health turns conversations between doctors and patients into clinical notes in real time. Its AI runs on hardware installed inside hospitals, so patient data stays on site. The company says it has completed more than 50,000 consultations.
Muskaan Kapoor
Key Business News for 9 November 2026
MakeMyTrip's India Arm Gets SEBI Nod for IPO
SEBI has cleared the IPO of MakeMyTrip India, the Indian unit of the travel company. Its parent MakeMyTrip and its unit ibibo Group Holdings (Singapore) will sell shares in the offer.
The company filed its papers with SEBI through the confidential route in July 2026. It has not yet shared the issue size or price band. Last week, MakeMyTrip also bought a majority stake in ride pooling startup Quick Ride.
PhysicsWallah Links Staff Cuts to AI, Sets Aside Under $20 Million for Acquisitions
PhysicsWallah said its staff and faculty numbers fell in Q2 FY27, partly because AI now handles tasks such as content creation and test papers. Management said AI now writes around 90% of the company's code.
The company has set aside less than $20 million for acquisitions and is in advanced talks with a few online education firms. Its offline business posted a pre-Ind AS EBITDA loss of INR 108 crore in the first half of FY27. PhysicsWallah returned to profit in Q2 FY27, earning INR 143.6 crore.
ED Searches CoinDCX and Delta Exchange Over Cross-Border Transfers
The Enforcement Directorate searched three Bengaluru premises linked to crypto platforms CoinDCX and Delta Exchange India on 4 and 5 November. The searches were made under FEMA over alleged forex violations.
The ED alleged that the platforms offered crypto derivatives and tokenised foreign shares without approval. Delta Exchange said it cooperated fully and was not involved in any cross-border transfer of crypto assets.
OYO Parent PRISM's Q1 FY27 Profit Rises 17% to INR 353 Crore
OYO parent PRISM reported a profit of INR 353 crore for Q1 FY27, up 17.3% from INR 301 crore a year earlier. Its revenue from operations rose nearly 35% to INR 2,814 crore.
Profit was helped by a deferred tax credit of nearly INR 244 crore. Its gross booking value grew nearly 30% to about INR 9,600 crore.
New-Age Tech Stocks Rally as CarTrade Gains 23%
54 of the 69 new-age tech stocks tracked by Inc42 gained in the week ended 7 November. CarTrade led with a 23.3% gain, followed by Awfis at 20.4% and ixigo at 19.1%.
The group's combined market value rose 5.2% to $169.3 billion. Tonbo Imaging and Zetwerk hit new highs, while RateGain fell over 9% after its quarterly results.
