Why Yulu’s $93M Round Made Cleantech Two-Thirds of India Startup Funding This Week
Week of August 10–14, 2026 · /india-startup-funding-weekly/
Series C
EV/Clean
Undisclosed
FinTech
Seed
DeepTech
Seed
D2C
Pre-A
HealthTech
Seed
AI/ML
All Deals — Week of August 10-14, 2026
| Startup | Sector | Amount | Stage | Lead Investor |
|---|---|---|---|---|
| Yulu | EV/Clean | $93M | Series C | GEF Capital Partners |
| Centricity | FinTech | $29M | Undisclosed | SMBC Asia Rising Fund |
| Discovered Materials | DeepTech | $9M | Seed | Lightspeed India Partners |
| Scrubsy | D2C | $3M | Seed | V3 Ventures |
| Ayati Devices | HealthTech | $1.6M | Pre-A | Inflexor Ventures |
| Wippi | AI/ML | $1.2M | Seed | 12 Flags |
| Lane | SaaS/B2B | $891K | Undisclosed | Kae Capital |
| Vecton AI | AI/ML | $629K | Pre-Seed | Zeropearl VC |
| FreightFox | SaaS/B2B | $524K | Pre-A | HighLeaf |
| Invisel | D2C | $420K | Undisclosed | IAN Group |
| Quarkitech | DeepTech | $210K | Pre-Seed | Artha Access |
| KshatraLabs | Defence | Undisclosed | Undisclosed | Finvolve, India Accelerator |
Beyond Funding — Ecosystem This Week
India Startup Funding This Week — August 2026
India startup funding this week came in at $139.5 million across 12 deals, a steep 44% drop from the $274.4 million raised the week before, in the run-up to Independence Day. But nearly every dollar of that decline is explained by one company doing exceptionally well: Bengaluru-based Yulu closed its largest-ever round at $93 million — $63 million in equity led by GEF Capital Partners, plus $30 million in debt — valuing the electric mobility platform at roughly $170 million post-money. Existing backers Bajaj Auto and Magna International both waived their pre-emptive rights to let GEF take its full target stake, and about $5.5 million of the equity was used to buy out early seed investors whose fund life was ending. Co-founder and CEO Amit Gupta called it validation of “the platform maturity” Yulu has built, adding that the company now expects this to be its final equity round before transitioning to public markets, with future fleet growth funded mostly through debt and lease financing.
The numbers back the confidence: Yulu says revenue grew sevenfold between FY23 and FY26 and it has held positive EBITDA since April 2025, running roughly 50,000 vehicles across 12 cities and powering over 750,000 deliveries a day for quick-commerce platforms. The fresh capital will quadruple its fleet to 200,000 EVs within two years and fund Yulu Express, a higher-payload scooter aimed at e-commerce logistics and parcel delivery. That single round pushed cleantech to two-thirds of the week’s total funding, comfortably ahead of fintech’s $29 million (led by wealthtech platform Centricity) and a cluster of hardware and semiconductor bets. Early-stage activity, meanwhile, actually picked up — five seed deals raised $14 million, an 82% jump from the previous week — even as India added its 133rd unicorn in astrology platform AstroTalk and Shiprocket’s IPO closed nearly 100 times oversubscribed..
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Drudhh tracks India startup funding every week, cross-checking aggregator reports (Entrackr, Inc42, YourStory, StartupTalky) against original company press releases, investor announcements and founder statements wherever available. Confirmed equity rounds only. Undisclosed amounts labelled.
Written by the Drudhh funding desk, tracking India’s venture ecosystem deal-by-deal since day one.