Source: YourStory.com
From April 14 to April 18, Indian startups collectively secured over $40 million in funding across sectors such as defence, robotics, and manufacturing. The week’s biggest movers underscore India’s increasing shift toward tech-powered, self-sufficient sectors. Key drivers included the well-segmented B2B-backed models, deep-tech propositions and sustainability hits. The leading startups, as well as their funding breakdown
1. OfBusiness – Gurugram (16th April 2025)
- Funding Raised: $11.7 million
- Investor: Cornerstone Ventures
- Sector: B2B commerce, Fintech
- Overview: OfBusiness, a B2B commerce and fintech platform based in Gurugram OfBusiness received $11.7 million from a second fund of $200 million from Cornerstone Ventures. Its lending subsidiary, Oxyzo, provides procurement, logistics and financing for SMEs in manufacturing and infrastructure. The firm is preparing for an IPO in late 2025 and plans to use those funds to expand digitally and expand access to capital, Soho said.
2. Garuda Aerospace – Chennai (16th April 2025)
- Funding Raised: $11.6 million
- Investor: Venture Catalysts
- Sector: Drone technology, Aerospace
- Overview: Garuda Aerospace, one of the leading players in India’s drone capabilities, has secured $11.6 million in Series B funding at a valuation of $250 million, with Venture Catalysts leading the round. The Bengaluru-based company, which was founded in 2015, provides end-to-end drone offerings, including manufacturing, pilot training, and drone-as-a-service (DaaS) across various sectors such as agriculture, surveillance, and infrastructure inspection. Garuda has more than 50 drone models and close ties to the Indian government. The new funds will support scaling production and establishing a dedicated R&D and testing facility to enhance defence capabilities.
3. Optimised Electrotech – Ahmedabad (14th April 2025)
- Funding Raised: $6 million
- Investors: Blume Ventures, Mela Ventures, 9Unicorns, Rajiv Dadlani Group, Venture Catalysts, Sandeep Shah
- Sector: Defence-tech, Surveillance
- Overview: This startup develops AI-driven electro-optic surveillance systems for defence, aerospace, and space monitoring. Optimised Electrotech is making its contribution towards India’s vision of self-reliant national security infrastructure with its focus on indigenous manufacturing. The defence sector has received a significant tech upgrade; their systems can detect threats across land, sea and air.
4. Magma – Ahmedabad (17th April 2025)
- Funding Raised: $5 million
- Investors: Capria Ventures, Avinya Ventures, Sanjiv Rangrass, General Catalyst, Accion Venture Lab, WEH Ventures
- Sector: Industrial solutions, Sustainability
- Overview: Magma is changing the dynamics of the Indian Industry Supply Chain by providing a sustainable approach in areas like raw material sourcing, green energy, recycling, and logistics. The startup, which is funded by Capria Ventures, hopes to increase manufacturing efficiency and advance climate goals. Driven by AI-enabled dynamics in procurement and ever-growing adoption among SMEs, Magma eyes a ₹1,000 crore revenue run rate in the next two years.
5. Peppermint Robotics – Pune (16th April 2025)
- Funding Raised: $4 million
- Investors: JDSS, Enrison India Capital, Indian Angel Network (IAN), Vinners
- Sector: Robotics, Automation
- Overview: Founded in 2019 at SINE IIT Bombay, Peppermint Robotics designs and builds autonomous cleaning and material-handling robots for industrial and commercial uses. Its sustainable automation solutions lower labour costs and boost productivity, with deployments in warehouses, airports and hospitals in six nations. Recently the company raised INR 34 crore (~USD 4M) in a Series A round to expand further into Europe, Japan and Asia-Pacific, enhance technology and expand the team. With total funding at INR 49 crore (~USD 5.6M), Peppermint also plans to launch a restroom-cleaning robot by 2026.
6. Jewelbox – Kolkata (16th April 2025)
- Funding Raised: $3.2 million
- Investors: V3 Ventures, Atrium Angels, Dexter Ventures, Infinyte Club, Samarthya Capital, JITO Incubation & Innovation Foundation (JIIF)
- Sector: Lab-Grown Diamonds, D2C Luxury
- Overview: Founded in May 2022 by siblings Vidita Kochar Jain and Nipun Kochar, Jewelbox offers lab-grown diamond jewelry through an omnichannel model. With both online and offline presence across six cities—including Delhi, Bengaluru, and Kolkata—the brand delivers sustainable, affordable luxury for modern consumers seeking alternatives to mined diamonds. The new funds will help Jewelbox expand its retail footprint, aiming for 30 stores by year-end.
Conclusion:
This week’s funding activity reflects a growing appetite among investors for startups driving industrial innovation, sustainable technology, and new-age consumer experiences. As capital fuels their next growth phase, these ventures are well-positioned to disrupt traditional sectors and deliver scalable impact across India’s rapidly evolving economy.
