5th September saw key moves in India’s startup and business space. L Catterton marked the first close of its $200M India fund, while Dectrocel raised ₹4 Cr for its AI diagnostics platform. Delhivery granted ESOPs worth ₹20.6 Cr, Motilal Oswal turned bullish on Swiggy and Eternal, CRED launched digital gold savings, PM Modi pushed for swadeshi promotion, and Freshworks founder Girish Mathrubootham announced his exit.
Daily Indian Funding Roundup – 5th September 2025
| Company | Amount | Round | Lead investor(s) | Sector |
|---|---|---|---|---|
| L Catterton India Fund | $200 Mn | First Close (Fundraising) | IFC; Kotak Private clients; L Catterton Asia (capped at 19.9%) | Consumer / Private Equity Fund |
| Dectrocel | ₹4 Cr | Seed / Funding | IAN Group-powered BioAngels; PadUp Ventures; Vinners (IAN’s Nitin Zamre, Samir Kalia, Mitesh Shah) | Healthtech / AI diagnostics |
L Catterton’s India-centric consumer fund marks first close at $200 Mn
L Catterton’s India-focused consumer fund (Fund I) has achieved its first close at $200 million. Backed by IFC, some Kotak Private clients, and L Catterton Asia (capped at a 19.9% commitment), the fund aims to raise up to $400 million with a $200 million greenshoe option. It will target mid-market consumer businesses in food & beverage, healthcare, retail, and more, planning 7–9 investments with cheque sizes of $25–150 million. It has already backed D2C healthy-snacking brand Farmley.
Health-tech startup Dectrocel raises ₹4 Cr led by IAN Group-backed BioAngels
Dectrocel, a health-tech startup developing AI-powered diagnostic solutions, has raised ₹4 crore in a round led by BioAngels, with participation from PadUp Ventures and Vinners. Founded in 2020, the company’s flagship product DecXpert—approved by CDSCO—delivers faster and more accurate medical imaging analysis. The new funding will help expand operations across India, enhance multimodal AI technology, explore global markets, and introduce new diagnostic modules for CT, MRI, PET-CT, and HPB workflows.
Key Business News for 5th September 2025
Delhivery grants ESOP worth INR 20.6 Cr
Delhivery has approved grants of 4,36,800 stock options under its ESOP 2012 and 2021 schemes—85,700 from ESOP-2012 and 3,51,100 from ESOP-2021—on September 4, 2025. At a current share price of INR 467 and an exercise price of INR 1, this equates to a value of about INR 20.4–20.6 crore. The ESOPs will vest over up to four years, subject to employment conditions. In Q1 FY26, the company reported a 5.6 % YoY revenue uptick to INR 2,294 crore and a profit of INR 91 crore.
Motilal Oswal turns bullish on Swiggy, Eternal amid GST tailwinds
Brokerage firm Motilal Oswal has upgraded Swiggy to a “buy” with a target price of INR 560 and reaffirmed a “buy” on Eternal with a INR 420 target, citing rising momentum in India’s food delivery and quick commerce sectors. Key tailwinds include upcoming festive season demand and GST reforms that leave more disposable income in consumers’ hands. Analysts anticipate 21–23 % growth for both platforms over FY26–27, as discounting eases and operational leverage improves.
CRED takes on Jar with digital gold rewards and savings feature
CRED has launched a pilot of a digital gold savings feature that provides select users up to INR 50 in 24-karat gold cashback into an in-app wallet. Users can accumulate gold holdings in grams and rupees, with insured delivery and coin conversion options. This initiative directly competes with micro-savings app Jar, aligning with the trend of gold-based everyday savings among digitally savvy Indians.
Promote swadeshi products; every shop, house must have ‘har ghar swadeshi’ board: Modi
Prime Minister Narendra Modi called on citizens—especially students and educators—to champion the “vocal for local” movement. In a recent address to National Teacher Awardees, he encouraged schools to host “Swadeshi Day/Week”, have students showcase indigenous products, and install “har ghar swadeshi” boards on homes and shops. The initiative emphasizes pride in Indian-made goods, interaction with local artisans, and reducing dependency on imports.
Freshworks founder Girish Mathrubootham to step down from company
Girish Mathrubootham, founder of SaaS firm Freshworks, will step down as Executive Chairman effective December 1, 2025, to fully focus on his venture fund, Together. The transition—disclosed via an SEC 8-K filing—will see Roxanne Austin, the lead independent director, become Chairperson. The change, described as amicable, marks a leadership shift four years after Freshworks’ IPO.
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