June 28, 2025: As June wrapped up, Indian startups ecosystem found a reason to breathe easier. After weeks of modest funding activity, the final week of the month saw a sharp rise in venture capital inflows, giving founders and investors something to cheer about.
Between June 21 and 27, startups in India raised $374 million across 31 deals. This marks a massive leap from the previous week’s total of just $57 million. The sharp uptick was driven by a mix of more deal activity and bigger cheque sizes, led by a standout $100 million fundraise by defence and aerospace startup Raphe mPhibr.
This sudden boost puts the week among the top three highest in terms of total VC inflow so far in 2025, data available publicly. It also breaks a streak of weekly funding levels that had largely remained in the $100–200 million range since mid-March.
Early-Stage Startups Attract $65M Amid Broader Funding Surge
Most of the capital this week flowed into growth-stage startups, which together raised $305 million. Early-stage ventures accounted for $65 million. Interestingly, late-stage funding, usually the largest chunk, remained subdued.
Still, insiders are cautious. Many say it’s too early to call this a turnaround. Global uncertainty, regulatory shifts, and valuation pressures continue to cloud the outlook. This week’s funding surge among startups could be a brief break rather than the start of a sustained trend.
There’s also momentum on another front, public listings. After a slow start to IPO activity this year, with only Ather Energy hitting the public markets, new filings by Pine Labs and Wakefit bring fresh optimism. Their move signals growing confidence among mature startups to test the public waters.
Major Deals of the Week:
- Raphe mPhibr raised $100 million for its defence and aerospace innovations.
- GIVA Jewellery secured ₹530 crore ($61.9 million) from Creaegis, Premji Invest, and others.
- Wiom, a tech connectivity startup, bagged $40 million from Accel, Prosus, and Bertelsmann India Investments.
- EKA Mobility, an EV company, received ₹200 crore (~$23.2 million) from ENAM Holdings.
- Battery Smart, focusing on battery swapping solutions, raised $21 million.
- ShopOS, an AI-led commerce startup, closed a $20 million round from 3STATE Ventures.
- GoKwik, which supports ecommerce brands, raised $13 million.
- Sahi, a digital broking platform, brought in $10.5 million.
- Fabheads, a deeptech venture, raised $10 million.
- Flipspaces, which designs commercial interiors, received ₹50 crore (~$5.9 million).
While this week offers a glimpse of renewed investor interest, the road ahead remains uncertain. Founders and VCs alike will be watching closely to see if this momentum carries into July and beyond.
