India’s startup ecosystem saw activity across deeptech, consumer brands, and AI-driven platforms on 17 March 2026. Velmenni raised ₹30 crore to scale its light-based wireless communication technology, while Grapevine secured $4.1 million to expand its AI-led talent platform. On the business front, Venture Catalysts exited Pee Safe, RBI penalised Cashfree, and Reliance’s Jio Platforms continued IPO discussions, reflecting broader momentum across India’s startup and corporate world.
Daily Indian Startup Funding Digest – 17 March 2026
| Startup | Sector | Funding | Round | Lead Investors |
|---|---|---|---|---|
| Velmenni | DeepTech / Telecom (Li-Fi) | ₹30 Crore | Funding Round | Pi Ventures |
| Moe Puppy | Pet Care / D2C | ₹2 Crore | Pre-Seed | Angel Investors |
| BambooBox | B2B SaaS / Marketing Tech | $6.6 Million | Seed (Surge) | Peak XV Partners (Surge) |
| DrinkPrime | Consumer Tech / Water Subscription | $2.2 Million | Bridge / Internal Round | Existing Investors |
| Zoomies | Pet Food / D2C | ₹5 Crore | Pre-Seed | D2C Insider Super Angels |
| Grapevine | AI / Job Discovery | $4.1 Million | Funding Round | Kae Capital, Peak XV, Ronnie Screwvala |
Velmenni Raises ₹30 Crore to Scale Light-Based Wireless Connectivity
Deeptech startup Velmenni has raised ₹30 crore in a funding round led by Pi Ventures, with participation from other investors.
The company is building Li-Fi and free-space optical (FSO) communication technologies, which use light instead of radio frequencies to transmit data. This innovation has the potential to transform high-speed connectivity across telecom and defence use cases. The funds will be used to scale deployments, strengthen R&D, and expand commercial adoption.
Moe Puppy Raises ₹2 Crore in Pre-Seed Round
Pet care startup Moe Puppy has raised ₹2 crore in a pre-seed round backed by angel investors.
The brand focuses on premium pet products and nutrition solutions, targeting India’s growing pet care market. The funding will help the startup expand product lines, strengthen branding, and scale distribution channels.
BambooBox Raises $6.6 Million Led by Peak XV’s Surge
B2B marketing SaaS startup BambooBox has raised $6.6 million in a seed round led by Peak XV Partners through its Surge accelerator programme.
The platform enables AI-driven account-based marketing and enterprise demand generation, helping companies improve pipeline efficiency and revenue operations. The funding will be used to expand globally, strengthen AI capabilities, and enhance product offerings for enterprise customers.
DrinkPrime Raises $2.2 Million in Fresh Funding
Water purifier subscription platform DrinkPrime has secured $2.2 million in fresh funding from existing investors.
The startup operates a subscription-based model for smart water purifiers, using IoT and data analytics to optimise performance and service delivery. The funds will support market expansion and product innovation.
Zoomies Raises ₹5 Crore Pre-Seed Round Led by D2C Insider Super Angels
Pet food startup Zoomies has raised ₹5 crore in a pre-seed round led by D2C Insider Super Angels, with participation from prominent founders and operators.
The Pune-based startup is building a clean-label, nutrition-first pet food brand, focusing on products made with real, human-grade ingredients without additives or preservatives. The funds will be used to strengthen manufacturing, scale supply chain, and expand distribution across D2C and quick commerce platforms.
Grapevine Bags $4.1 Million to Scale AI Talent Platform
AI-driven networking platform Grapevine has raised $4.1 million (≈₹37.9 crore) from Kae Capital, Peak XV Partners, and Ronnie Screwvala.
The startup has launched TAL, an AI-powered job discovery tool that scans opportunities and recommends roles to users. It will use the funds to scale TAL and its interview platform Round1, strengthening its position in AI-led hiring solutions.
Key Business News for 17 March 2026
Venture Catalysts Makes Full Exit from Pee Safe
Startup investment firm Venture Catalysts has exited Pee Safe, delivering strong returns with a notable XIRR.
The exit reflects the firm’s successful early-stage investment strategy and highlights Pee Safe’s growth in the feminine hygiene and personal care segment. The development also signals continued investor confidence in D2C consumer brands.
RBI Fines Cashfree for Payment Aggregator Norm Violations
The Reserve Bank of India (RBI) has imposed a penalty on fintech firm Cashfree for non-compliance with payment aggregator guidelines.
The regulator identified lapses related to operational and regulatory norms. Cashfree has stated that it is taking corrective steps to strengthen compliance and governance frameworks.
Jio Platforms IPO Plans Continue Amid Market Discussions
Jio Platforms, backed by Reliance Industries, is reportedly progressing discussions around a potential IPO.
The company is evaluating listing strategies, including a possible private placement before filing its DRHP. If executed, the IPO could become one of India’s largest public market debuts, reflecting strong investor interest in digital infrastructure businesses.
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