Daily Indian Funding Roundup & Key News - June 23, 2026: Square Yards Enters Unicorn Club With $95 Mn Round, Tata Electronics Confirms Data Breach
Here's your daily funding and key business news roundup for June 23, 2026: Monday was headlined by two major developments as real estate platform Square Yards crossed a billion-dollar valuation with a Rs 900 crore debt-equity round, and Bengaluru-based cyber resilience startup Mitigata raised $15 million in a Bessemer-led Series B.
On the business front, Tata Electronics confirmed a ransomware breach involving files from Apple and Tesla clients surfacing on the dark web, and Turtlemint's IPO continued to see sluggish subscription response heading into its second day.
FUNDING NEWS
| Startup | Sector | Funding | Round | Lead Investor |
|---|---|---|---|---|
| Square Yards | Proptech / Mortgage | Rs 900 Cr (~$95 Mn) | Debt + Equity | EAAA Alternatives |
| Mitigata | Cybersecurity / Cyber Resilience | $15 Mn | Series B | Bessemer Venture Partners |
| Unnati Agri | Agritech / Agri-Inputs | Rs 17 Cr | Debt | Recur Club |
| LiLLBUD | D2C Toys / Early Learning | Rs 6 Cr | Seed | Zeropearl VC |
| Sherlocks AI | AI / Incident Management | Rs 7.5 Cr | Pre-Seed | SenseAI Ventures |
| BharatTender | B2B Procurement Tech | Rs 1.25 Cr | Pre-Seed | Angel Investor |
Square Yards Enters Unicorn Club with $95 Million Round
Gurugram-based real estate and mortgage platform Square Yards has entered the unicorn club after raising Rs 900 crore ($95 million) through a mix of debt and equity anchored by EAAA Alternatives, with global corporate credit manager Muzinich & Co also participating. The round values the company at over $1 billion. Founded by Tanuj Shori and Kanika Gupta, Square Yards reported 48% year-on-year revenue growth to Rs 2,086 crore in FY26, with EBITDA jumping 3.7 times to Rs 176 crore. The company plans to raise an additional $50 to $60 million over the next quarter as it prepares for a public listing.
Mitigata Raises $15 Million in Series B Led by Bessemer
Bengaluru-based cyber resilience startup Mitigata has raised $15 million in a Series B led by Bessemer Venture Partners, with existing investors Nexus Venture Partners, Titan Capital, and WEH Ventures also participating. Founded in 2023 by Mohit Anand, Sarthak Dubey, Mayank Morya, and Akshit Kaushik, the company offers a unified platform covering security operations, cyber risk intelligence, compliance, incident response, and cyber insurance. It claims to serve over 800 enterprises and processed more than one million security incidents in the past year. Proceeds will fund international expansion into the Middle East, MENA, and Southeast Asia.
Unnati Agri Secures Rs 17 Crore in Debt from Recur Club
Noida-based agri-input platform Unnati Agri has raised Rs 17 crore in debt from Recur Club to strengthen seasonal working capital and expand distribution. Co-founded in 2010 by Ashok Prasad and Amit Sinha, the company connects farmers with agri-inputs and food processors through a unified platform, with sustainable agri-inputs currently comprising 35 to 40% of sales. Unnati is also targeting a $30 to $35 million equity raise in H2 2026 and is planning a public listing within three to four years. It has raised more than $13.24 million in equity to date, including from NABVENTURES.
LiLLBUD Raises Rs 6 Crore in Seed Round
Gurugram-based early learning brand LiLLBUD has raised Rs 6 crore in a seed round led by Zeropearl VC, with participation from Shadowfax CEO Abhishek Bansal, CRED founder Kunal Shah, and a syndicate of consumer and supply-chain operators. Co-founded in May 2025 by Abhishek Sharma and Ayush Bansal, LiLLBUD makes BIS-certified, Montessori-inspired toys for children aged 0 to 3. The company claims an ARR of Rs 3.5 crore and a catalogue of over 200 SKUs. Funds will go toward launching 100 new SKUs and deepening quick commerce distribution.
Sherlocks AI Raises Rs 7.5 Crore in Pre-Seed Round
AI-native incident management startup Sherlocks AI has raised Rs 7.5 crore in a pre-seed round led by SenseAI Ventures, with participation from Uppekkha. Founded in 2025 by Gaurav Toshniwal and Akshat Jain, the company builds AI agents that investigate production incidents across cloud, Kubernetes, databases, and CI/CD pipelines. It currently serves clients including Fynd, Lokal, and TradeIndia, and integrates with over 30 enterprise tools. Toshniwal previously co-founded Aasaanjobs and served as CTO at Doubtnut. Proceeds will strengthen the product and fund North America go-to-market efforts.
BharatTender Raises Rs 1.25 Crore in Pre-Seed Round
B2B procurement technology platform BharatTender has raised Rs 1.25 crore in a pre-seed round from an angel investor. Co-founded in 2025 by Rankit Singh, Sanyam Jain, and Anshul Kochar, the platform digitises business procurement through tendering, vendor discovery, competitive bidding, digital contracts, and escrow-backed payments. The company is currently live and serving startups, manufacturers, and enterprises. Proceeds will be used to accelerate product development, customer acquisition, and AI-powered procurement capabilities.
Muskaan Kapoor
Key Business News for 23 June 2026
Tata Electronics Confirms Ransomware Data Breach Involving Apple and Tesla Files
Tata Electronics has confirmed it was hit by a cybersecurity incident a few weeks ago, after ransomware group World Leaks posted over 2 lakh files totalling more than 630 GBs on the dark web and demanded a ransom. The leaked data reportedly includes component design and specification papers related to Apple and Tesla, along with employee emails, passport copies, and event logs spanning several years. The company said the incident had no impact on its operations and that response protocols were deployed immediately. Apple is reportedly conducting a full analysis of the breach.
Turtlemint IPO Sees Tepid Response, Subscribed 57% Through Day Two
Insurtech startup Turtlemint's IPO has seen a sluggish subscription response, reaching approximately 57% subscription through the second day of its issue. The muted response reflects investor caution around the company's financials and the broader valuation concerns surrounding loss-making insurtech platforms seeking public listings. Turtlemint had filed its DRHP earlier this year and is among a cohort of fintech and insurtech companies targeting IPOs in FY27. The company operates an insurance distribution platform for independent agents and brokers across India.
