Synopsis
The number of deals during the week was also down at 18 transactions, compared to 24 in the corresponding week last year. Compared to the previous week, when startups raised $310.7 million, the funding was down 39.8%.This week’s tally, however, was down 39.8% from the previous week when startups raised $310.7 million.
The deal activity also slowed significantly this week, with 18 transactions recorded compared with 24 in the same week last year.
Top deals of the week
OpenFX: US-headquartered cross-border payments infrastructure startup OpenFX has secured $94 million in a funding round led by Accel and Atomico. Founded in 2024 by Prabhakar Reddy, OpenFX is building infrastructure that connects traditional banking systems with new-age payment rails using stablecoins as an intermediary layer. The round also saw participation from Lightspeed, Faction VC, M13, Northzone, and Pantera.
Palmonas: Pune-based D2C jewellery brand Palmonas raised $40 million in a Series B funding round led by Xponentia Capital and Vertex Growth Fund, with participation from existing investor Vertex Ventures. Cofounded by actor Shraddha Kapoor alongside Pallavi Mohadikar and Amol Patwari, Palmonas was established in 2022 as a jewellery brand offering products through both online platforms and physical stores.
Bachatt: Savings and wealth management startup Bachatt has secured $12 million in a funding round led by early-stage venture firm Accel. The round also saw participation from existing investors Lightspeed and InfoEdge Ventures. Bachatt targets small businesses such as shops, jewellery stores and dealerships, offering them daily savings services that can be invested across mutual funds and digital gold. The company believes that there is a population of 300 million that fits into its product design and can be a target. The startup was founded by Ankur Jhavery, Anugrah Jain, and Mayank Agarwal in 2024.
Gnani.ai: Bengaluru-based Voice AI startup Gnani.ai has raised $10 million in a funding round led by impact investor Aavishkaar Capital. Founded by Ganesh Gopalan and Ananth Nagaraj, the company builds voice-first, agentic artificial intelligence (AI) platforms that help enterprises automate customer interactions across languages. The company’s portfolio spans use cases such as workforce automation, live agent assist, voice biometrics, and call intelligence across sectors such as BFSI, telecom, insurance, automotive, and government, it said in a statement.
