India Startup Funding & Business Roundup - June 3, 2026: Agilitas Sports Raises Rs 225 Cr, Fraganote and Phab Close Pre-Series A Rounds

Indian startups closed a string of funding rounds on June 3, 2026, led by vertically integrated sportswear firm Agilitas Sports, which raised Rs 225 crore in a follow-on round. Other notable deals included D2C fragrance brand Fraganote’s $3 million Series A, protein snack brand Phab’s $4 million pre-Series A, premium gifting platform Zuvees completing a Rs 15 crore tranche in its ongoing Series A (taking total funding to Rs 30 crore), and Bengaluru-based Propsoch raising $2 million in seed capital.

"The round includes a Rs 200 crore follow-on from Nexus and Rs 25 crore from Rainmatter," the report noted on Agilitas's latest fundraise.

Funding roundup

• Agilitas Sports — Rs 225 crore follow-on from Nexus Venture Partners (Rs 200 crore) and Rainmatter (Rs 25 crore).
• Fraganote — $3 million Series A led by V3 Ventures with participation from Rukam Capital.
• Zuvees — Rs 15 crore from IvyCap Ventures as part of an ongoing Series A; total funding now Rs 30 crore.
• Propsoch — $2 million seed led by Athera Venture Partners.
• Phab — $4 million pre-Series A led by OTP Ventures and Chona Family Office.

Context and details

Agilitas Sports, founded in 2023 by former Puma India MD Abhishek Ganguly, operates across sports footwear, apparel and accessories and owns the One8 brand, which was transferred by cricketer Virat Kohli. The company also holds exclusive licensing rights for Lotto across India, Australia and South Africa, and is expanding Sportsyard, its large-format multi-brand retail chain. Agilitas had previously raised Rs 100 crore from Nexus in December 2023.

D2C fragrance start-up Fraganote, founded by Garima Kakkar and Arjun Anand in 2023, has built a portfolio of 42 SKUs and generates roughly 60% of its revenue from its website, 20% from quick commerce, with the remainder from ecommerce and offline kiosks across 14 cities. The company reported a 5X growth in FY26 and is targeting Rs 60 crore revenue in FY27 and Rs 100 crore within 18 months; proceeds will be used for brand building, omnichannel distribution and expansion into body care.

Premium gifting platform Zuvees — started by Vijaykumar Ghadge and Abhishek Daiya — said it combines "AI-driven personalisation, video approval before dispatch, and cross-border fulfilment capabilities." Having launched in the UAE in early 2025, Zuvees claims an "annualised revenue run rate of over $3 million" and serves customers in more than 50 countries. IvyCap’s Rs 15 crore investment will be used to enhance its AI recommendation engine, supply chain and CRM capabilities.

Bengaluru-based Propsoch, co-founded by Ashish Acharya and Ravi Agrawal, evaluates properties across more than 80 parameters — from legal compliance to construction quality and appreciation potential — and will use seed proceeds to strengthen research and expand the team. Nutritionist-founded Phab, led by Gayatri Chona, focuses on macro-first, calorie-efficient snacks and has built a 50% offline footprint across modern trade and general trade while expanding quick commerce in Tier 2 and Tier 3 cities.

Business moves and outlook

In corporate developments, insurtech unicorn Acko announced four senior vertical hires — Apoorv Kalra (auto), Kunal Kapur (health), Vivek Sharma (Acko Drive Ecosystem) and Neha Gupta (assisted experience) — as it prepares a DRHP filing via the confidential route in H2 2026, eyeing a 2027 listing at a $2–$2.5 billion valuation. Separately, Akash Dongre, co-founder and CPO of PhonePe-owned Indus Appstore, stepped down after more than a decade; Chief Business Officer Priya Narasimhan is expected to lead the company going forward.