Funding activity continued in full flow for yet another week in May.
From AI-powered platforms to fintech ventures, the country’s innovation agenda shows no signs of stopping despite broader market uncertainties.
Peak XV Partners continued its string of foreign investments with three different such funding announcements this week featuring the venture capital firm.
ETEntrepreneur brings a roundup of key deals below.
Scapia raises $63 mn funding led by General Catalyst
Scapia has raised $63 million in a funding round led by General Catalyst, with participation from existing investors Peak XV Partners and Z47.
The company said the fresh capital will be used to accelerate customer growth, strengthen its travel ecosystem and build what it describes as an AI-first product and organisational culture.
Founded by Anil Goteti, Scapia operates at the intersection of travel and financial services, offering co-branded credit cards, travel rewards, UPI payments and travel booking services through a unified platform.
Read the whole story
here.
Mythik valuation crosses $50 mn following fresh $5 mn fundraise
Entertainment startup Mythik has raised an additional $5 million in funding, taking the company’s valuation to over $50 million.
The round saw participation from investors including Dream11 founder Harsh Jain, former McKinsey global managing director Rajat Gupta, the Bharti Mittal family office, Blume Founder’s Fund and Point72’s Ishan Sinha, alongside existing investors. The latest raise comes about a year after Mythik’s earlier $15 million seed funding round.
Read the whole story
here.
Trackk raises $3.7 mn seed funding led by Lightspeed
Gen Z-focused investing platform Trackk has raised $3.7 million in a seed funding round led by Lightspeed, with participation from Info Edge Ventures and angel investors including Gaurav Munjal, Roman Saini, Tanmay Bhatt, Varun Mayya and Gaurav Kapoor.
The company said the fresh capital will be used to strengthen its broking infrastructure, expand product capabilities, scale customer acquisition and build additional financial products targeted at younger Indian investors.
Read the whole story
here.
ONO raises $1.2 mn pre-series A funding led by Aeravti Ventures
Agri-finance startup ONO has raised $1.2 million in a pre-series A funding round led by Aeravti Ventures, with participation from Tremis Capital and angel investors. The fresh capital will be used to strengthen ONO’s technology platform, expand into new markets and scale its lending and ecosystem infrastructure.
Founded by Rama Rao Kancharapu and David Pokuri, ONO is building a data and AI-led fintech and post-harvest infrastructure platform focused on solving inefficiencies across India’s agricultural supply chain.
Read the whole story
here.
EndureAir raises ₹30 crore government-backed funding
Drone startup EndureAir Systems has raised ₹30.01 crore under the Research and Development Initiative (RDI) fund from the Department of Science and Technology, with support from the Technology Development Board, to accelerate development of its heavy-lift drone platform SABAL-200.
The company said it is the first drone startup to receive support under the initiative’s first cohort, with the funding structured as patient capital to help advance the platform from Technology Readiness Level (TRL) 5 to TRL 9. Founded in 2018, EndureAir designs and manufactures unmanned aerial systems focused on defence and logistics applications.
Read the whole story
here.
Peak XV joins UK infrastructure startup Primer’s $100 million funding round
Peak XV Partners has joined a $100 million fundraising by London-headquartered global payments infrastructure startup Primer, the latest in a string of overseas bets by India’s largest venture capital firm.
The round was led by Belgium-based Sofina, with Peak XV Partners and existing investors Balderton, Accel, ICONIQ, Tencent and Speedinvest participating.
The startup said the round was oversubscribed and will be used to accelerate investments in AI for payments and finance teams and expand in the US, which it expects to account for more than a third of its revenue by 2028.
Read the whole story
here.
Variational raises $50 mn Series A funding led by Dragonfly
Variational has raised $50 million in a Series A funding round led by Dragonfly, as it looks to bring liquidity from traditional financial markets into on-chain trading infrastructure. The round also saw participation from Bain Capital Crypto, Coinbase Ventures, Peak XV Partners and other strategic investors.
Alongside the funding, the company announced the launch of its first real-world asset markets, allowing traders to access perpetual contracts linked to commodities such as gold, silver, copper and WTI crude oil directly alongside crypto assets.
Read the whole story
here.
Clouted raises $7 mn seed funding led by Slow Ventures
Clouted has raised $7 million in a seed funding round led by Slow Ventures, as it looks to build what it calls a ‘distribution intelligence’ platform for consumer and entertainment brands.
The round also saw participation from Gold House Ventures, Weekend Fund, LINE-Yahoo’s Z VC, Gondor Capital, Iterative, AppWorks, Peak XV’s Surge and a16z Speedrun.
Alongside the funding, the company launched its distribution intelligence platform, which uses AI agents to autonomously generate, execute and optimise marketing campaigns across channels including TikTok, Instagram, YouTube and X.
Read the whole story
here.
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- Published On May 22, 2026 at 04:46 PM IST