Top Funding Wrap of the Week – 18 May to 22 May 2026

Indian startups closed a string of funding rounds between 18 May and 22 May 2026, led by travel-focused fintech Scapia’s $63 million raise and a $3.5 million seed for neurotechnology startup Sychedelic. Scapia’s round was led by General Catalyst with participation from Peak XV Partners and Z47, while Sychedelic’s seed was backed by angel investors including TurboStart, Ideabaaz and Praveek Ventures as well as investors from India, the UAE and the NRI community.

"Indian startups raised capital to expand and become more successful. Here is this week’s Top Indian Startups Funding Roundup – 18 May to 22 May 2026."

Key rounds and planned uses of capital

• Scapia: $63 million led by General Catalyst; existing investors Peak XV Partners and Z47 also participated. The company said it will use the funds to grow and add more products in its financial services and travel businesses.
• ANSCER Robotics: $5.4 million Series A led by IAN Alpha Fund with participation from Info Edge and angel investors. ANSCER plans to improve its product platform, expand operations in the US and broaden its global partner network.
• Mythik: $5 million from investors including Harsh Jain (founder and CEO, dream11), Rajat Gupta (cofounder, Indian School of Business) and Blume Founders Fund. This is an extension of a $15 million round announced last May; post-money valuation has crossed $50 million.
• Sychedelic: $3.5 million (around Rs 31.5 crore) seed round backed by TurboStart, Ideabaaz, Praveek Ventures and other angels from India, the UAE and the NRI community. Funds will support marketing, increased manufacturing capacity, expanded research and a global Kickstarter launch planned for May 2026.
• Trackk: Rs 30 crore (about $3.16 million) extended seed led by Lightspeed India with participation from Info Edge Ventures. Regulatory filings show the issuance of 123,630 compulsory convertible preference shares (CCPS) at Rs 2,429 each.
• EndureAir Systems: ₹30 crore (about $3.1 million) grant under the Centre’s RDIF scheme as part of the first cohort of five startups in the government’s ₹1 lakh crore RDI scheme; cohort members include Dhruva Space, e-TRNL Energy, Noccarc Robotics and IISTEM Research. The grant aims to move projects closer to commercial deployment.
• Cellogen Therapeutics: INR 20 crore (about $2 million) from Kotak Alternate Asset Managers to develop CAR‑T clinical programs, expand its gene therapy pipeline and upgrade GMP-compliant manufacturing and regulatory systems.
• ONO: $1.2 million pre-Series A led by Aeravti Ventures, joined by angel investors and Tremis Capital to enhance the agri-finance startup’s technology platform, market entry and lending operations.
• Damroo: Strategic investment of Rs 5 crore from Hindustan Times to boost tech, artist network, regional discovery and monetisation; Hindustan Times will promote artists via Fever FM and its digital channels.
• Kalpi: Rs 3.75 crore seed from Rainmatter Capital to grow the team, purchase data, improve product and expand reach among retail and institutional customers.

Outlook

The week’s activity underscores focused capital allocation across travel-fintech, robotics, biotech, neurotechnology and creator platforms. Investors including General Catalyst, Lightspeed India, IAN Alpha Fund, Kotak Alternate Asset Managers and strategic media backers like Hindustan Times are backing both product development and go‑to‑market expansion. Notable near-term milestones include Sychedelic’s planned Kickstarter launch in May 2026, Trackk’s post-allotment valuation of about Rs 118 crore, and EndureAir’s progression toward commercial deployment under a government RDIF grant—signals that capital is being directed toward scaling, international expansion and commercialization.