Daily Indian Startup Funding Roundup & Key News - 31 March 2026: OpenFX Raises $94 Mn, Gnani AI Bags $10 Mn, MakeMyTrip Faces Allegations
Indian startups witnessed steady funding momentum on 31 March 2026, with capital flowing into fintech, AI, and wealthtech ventures. The day was led by OpenFX’s $94 million raise and Gnani AI’s $10 million Series B round, highlighting continued investor interest in deep-tech and financial infrastructure. Meanwhile, key developments around MakeMyTrip and government-backed electronics manufacturing initiatives added to the broader business landscape.
Daily Indian Startup Funding Digest - 31 March 2026
| STARTUP | SECTOR | FUNDING | ROUND | LEAD INVESTORS |
|---|---|---|---|---|
| Gnani AI | AI / Deeptech | $10 Mn | Series B | Aavishkaar Capital |
| OpenFX | Fintech (Cross-border payments) | $94 Mn | Series A | Accel, Lightspeed |
| Bachatt | Wealthtech | $12 Mn | Series A | Accel |
| Fanon | Consumer / Social Platform | $1 Mn | Pre-Seed | Kalaari Capital, Gruhas |
| Dugar Finance | NBFC / Fintech | $5 Mn | Pre-Series A | HegdInvst |
OpenFX Raises $94 Mn Series A
OpenFX, a cross-border payments infrastructure startup, secured $94 million in a funding round led by Accel and Lightspeed. The company focuses on simplifying international transactions for businesses through its fintech infrastructure platform. The funds will support product development, regulatory expansion, and scaling operations across global markets.
Bachatt Raises $12 Mn Series A
Bachatt, a wealthtech startup offering digital savings and investment solutions, raised $12 million in a Series A round led by Accel. The platform aims to simplify personal finance management for retail users through goal-based investing tools. The funding will be used to improve technology, expand its user base, and introduce new financial products.
Gnani AI Raises $10 Mn Series B
Bengaluru-based conversational AI and speech recognition startup, Gnani AI, raised $10 million in a Series B round led by Aavishkaar Capital. The company builds AI-driven voice solutions across industries such as banking, healthcare, and customer service. The fresh capital will be used to expand globally, enhance product capabilities, and strengthen its deep-tech infrastructure.
Fanon Raises $1 Mn Pre-Seed Round
Fanon, a consumer-focused social platform, raised $1 million in a pre-seed round led by Kalaari Capital and Gruhas. The startup is building a digital platform centred around community engagement and content sharing. The funds will be used for product development, early team hiring, and user acquisition.
Dugar Finance Raises $5 Mn Pre-Series A
Dugar Finance, a non-banking financial company (NBFC), raised $5 million in a pre-Series A round led by HegdInvst. The company focuses on providing credit solutions to underserved segments. The fresh capital will be used to scale lending operations and strengthen its financial services portfolio.
Key Business News for 31 March 2026
MakeMyTrip Faces Allegations by Short Seller
A short seller, Morpheus, has accused MakeMyTrip of anti-competitive practices and inflating profits. The report claims the company engaged in practices that may distort market competition and misrepresent financial performance. These allegations could trigger regulatory scrutiny and impact investor sentiment.
Government Approves ₹7,100 Cr Electronics Manufacturing Projects
The Government of India has approved 29 new electronics manufacturing projects worth ₹7,100 crore. The move aims to strengthen domestic production capabilities and reduce reliance on imports. It aligns with India’s broader push to become a global electronics manufacturing hub.
Future Wealth Floats $50 Mn Early-Stage Fund
Future Wealth Investments has launched a $50 million fund to back early-stage startups. The fund will focus on supporting founders at the seed and pre-Series A stages across sectors. This initiative is expected to boost early-stage funding activity and nurture emerging ventures.
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