India Funding Roundup & Key Business - June 3, 2026: Agilitas Sports Raises Rs 225 Cr, Fraganote and Phab Close Pre-Series A Rounds
Here's your daily funding and key business news roundup for June 3, 2026: Indian startups closed a diverse set of deals on Tuesday, with vertically integrated sportswear company Agilitas Sports leading the day by raising Rs 225 crore from Nexus Venture Partners and Rainmatter, D2C fragrance brand Fraganote closing a $3 million Series A, and nutritionist-founded protein snack brand Phab raising $4 million in a pre-Series A.
On the business front, insurtech unicorn Acko bolstered its leadership team with four new vertical heads ahead of its IPO plans, while PhonePe-owned Indus Appstore lost its cofounder and CPO, Akash Dongre.
Daily Indian Startup Funding Roundup - 3 June 2026
| Startup | Sector | Funding | Round | Lead Investor |
|---|---|---|---|---|
| Agilitas Sports | Sportswear / Athleisure | Rs 225 Cr (~$23 Mn) | Follow-on | Nexus Venture Partners |
| Fraganote | D2C Fragrance / Beauty | $3 Mn (~Rs 28.7 Cr) | Series A | V3 Ventures (V Cube Ventures SA) |
| Zuvees | Gifting Platform | Rs 15 Cr (~$1.6 Mn) | Series A (ongoing) | IvyCap Ventures |
| Propsoch | Proptech / Homebuyer Advisory | $2 Mn | Seed | Athera Venture Partners |
| Phab | D2C Protein Snacks / Health Food | $4 Mn (~Rs 38 Cr) | Pre-Series A | OTP Ventures |
Agilitas Sports Raises Rs 225 Crore from Nexus Venture Partners and Rainmatter
Vertically integrated sportswear and athleisure company Agilitas Sports has raised Rs 225 crore from Nexus Venture Partners and Rainmatter. The round includes a Rs 200 crore follow-on from Nexus and Rs 25 crore from Rainmatter. Founded in 2023 by former Puma India MD Abhishek Ganguly, Agilitas operates across sports footwear, apparel, and accessories, owns the One8 brand (transferred by Virat Kohli), and holds exclusive licensing rights for Lotto across India, Australia, and South Africa. It is also expanding Sportsyard, its large-format multi-brand retail chain. The company had previously raised Rs 100 crore from Nexus in December 2023.
Fraganote Raises $3 Million in Series A Round
D2C perfume brand Fraganote has raised $3 million in a Series A round led by V3 Ventures, with participation from existing investor Rukam Capital. Founded in 2023 by Garima Kakkar and Arjun Anand, the brand currently has 42 SKUs and generates 60% of revenue from its website, 20% from quick commerce, and the remaining from ecommerce and offline kiosks across 14 cities. The startup grew 5X in FY26 and is targeting Rs 60 crore revenue in FY27 and Rs 100 crore within 18 months. Funds will go toward brand building, omnichannel distribution, and expanding into body care products.
Zuvees Raises Rs 15 Crore in Ongoing Series A from IvyCap Ventures
Premium gifting platform Zuvees has raised Rs 15 crore from IvyCap Ventures as part of its ongoing Series A, taking total funding to Rs 30 crore. Founded by Vijaykumar Ghadge and Abhishek Daiya, Zuvees combines AI-driven personalisation, video approval before dispatch, and cross-border fulfilment capabilities. It launched in the UAE in early 2025 and claims an annualised revenue run rate of over $3 million, serving customers in more than 50 countries. Funds will enhance its AI recommendation engine, supply chain, and CRM capabilities.
Propsoch Raises $2 Million in Seed Round
Bengaluru-based homebuyer advisory platform Propsoch has raised $2 million in a seed round led by Athera Venture Partners, with participation from Sparrow Capital and Vakil Group. Co-founded by Ashish Acharya and Ravi Agrawal, the platform evaluates properties across more than 80 parameters including legal compliance, construction quality, and appreciation potential to provide unbiased, data-driven advisory to homebuyers. The startup had previously raised $600,000 from angel investors. Funds will strengthen research capabilities, expand the team, and support market expansion.
Phab Raises $4 Million in Pre-Series A Round
Nutritionist-founded protein snack brand Phab has raised $4 million in a pre-Series A round led by OTP Ventures and Chona Family Office. Founded by practising nutritionist Gayatri Chona, Phab builds macro-first, calorie-efficient snacks designed to fit real Indian eating habits without compromising on taste. The brand has built a 50% offline footprint across modern trade and general trade, alongside a growing quick commerce presence in Tier 2 and Tier 3 cities. Funds will be deployed toward brand building, geographic expansion, and team strengthening.
Key Business News for 6 June 2026
Acko Appoints Four New Vertical Heads Ahead of IPO
IPO-bound insurtech unicorn Acko has announced four senior leadership appointments. Former Junglee Games executive Apoorv Kalra will lead the auto business, ex-Meta executive Kunal Kapur takes charge of the health vertical, Vivek Sharma (co-founder of the now-defunct Fixcraft) will head the Acko Drive Ecosystem, and former Zepto executive Neha Gupta will lead the assisted experience vertical. The appointments follow a restructuring in which Acko let go of around 60 employees in May. The company is targeting a DRHP filing via the confidential route in H2 2026 and a listing in H1 2027 at a valuation of $2 to $2.5 billion. Acko posted Rs 2,836.8 crore in operating revenue in FY25, up 34.7% year-on-year.
Indus Appstore Cofounder Akash Dongre Steps Down
Akash Dongre, co-founder and CPO of PhonePe-owned Indus Appstore, has stepped down after more than a decade of building the platform, saying he is taking time to pause and reflect. Chief Business Officer Priya Narasimhan is expected to lead the company going forward. Dongre had co-founded Indus OS in 2013, which was acquired by PhonePe for $90 million in 2022 and relaunched as Indus Appstore in 2024. The platform crossed 1.5 crore users after a Xiaomi India partnership. His exit follows those of co-founders Rakesh Deshmukh (2024) and Sudhir Bangarambandi, and comes as PhonePe prepares for an IPO, currently on pause due to global market volatility.
Muskaan Kapoor
