The Week that Was: Indian Startup News Overview (12th February - 16th February)

The Week that Was: Indian Startup News Overview (12th February - 16th February)

The startup ecosystem of India is gradually expanded through a collaborative effort between the government, business community and entrepreneurs. These joint endeavors are creating a flourishing environment to foster the growth of Startups in each & every corner. The enormous ground of Indian startup ecosystem leading the appearance of incubators, investors, stakeholders, accelerators and other crucial enthusiasts to supply much-wanted support to baby companies. With all these resources backed with mentorship, networking opportunities and partnerships that assist startups to pilot the obstacles of building a victorious business, now the country is poised to magnetize the investors & supporters from the entire world.

This week, we saw IDC Kitchen – startup holding a chain of vegetarian South Indian self-service restaurants has raised 1.5 Crore from Peter Thiel's Valar Ventures-backed financing platform, Velocity; and Scrut Automation - IT startup in specialized in Governance, Risk and Compliance (GRC) automation has raised 75 crore by Lightspeed Partners, MassMutual Ventures, and Endiya Partners. Here is the compilation of Top 5 startups that raised million dollar funds this week.

IDC Kitchen

A chain of vegetarian South Indian self-service restaurants, Bengaluru's IDC Kitchen (Idli, Dosa, Coffee) has successfully secured 1.5 Crore debt from Peter Thiel's Valar Ventures-backed financing platform, Velocity.These funds will be directed towards marketing initiatives and other inventory-related expenses, enhancing IDC's outreach and sustaining its commitment to delivering an authentic South Indian culinary experience.

This strategic collaboration with Velocity reinforces IDC's leadership in the Indian Quick service restaurant (QSR) landscape. Founded in 2012, IDC Kitchen currently has 11 locations in Bangalore, 2 in Mumbai and 1 in Raichur and 30 Crore revenue annually, extending the diverse flavors of South India to enthusiasts nationwide.

Scrut Automation

IT startup Scrut Automation, which specializes in Governance, Risk and Compliance (GRC) automation, has recently raised 75 crore or $9 million in its series A round from existing investors. The funding round was also brightened by the presence of Lightspeed Partners, MassMutual Ventures, and Endiya Partners.

The regulatory filing of the Registrar of Companies revealed that, board at Scrut Automation has passed a special resolution to issue 4,977 Series A CCPS at an issue price of 1, 50,188 each to raise 75 crore or $9 million.


A global mobility fintech startup specializing on democratising access to financial services for mobility entrepreneurs globally, Moove has raised $10 million funding from major venture debt fund Stride Ventures to develop its footprint in India. The acquired fresh funding will be utilized to uplift the total vehicles in India to over 5,000 and develop into new markets in major cities including Delhi, Pune and Kolkata.

Established by Binod Mishra in the year 2020, the startup Moove has been renovating the global mobility by entrenching alternative credit-scoring technology onto ride-hailing platforms. Since launching a year ago, this Gurugram-based Moove has recognized as a strong player in Bengaluru, Mumbai & Hyderabad already.


Bengaluru based, pet grooming and caring startup Supertails recently hit the headlines, by securing $15 million or around 125 crore in equity funding led by RPSG Capital Ventures. The funding round also saw participation from existing investors, including Fireside Ventures, Saama Capital, DSG, and Sauce VC.

The startup was founded by Varun Sadana, Aman Tekriwal, and Vineet Khanna in 2021, Supertails is a Bengaluru-based pet care startup that focuses on expert-led pet care products and services. This Bengaluru based brand serves over 18,000 pin codes and offers a wide range of pet supplies including toys, accessories, grooming essentials, and pet food, as well as online veterinary consultations, pet training services, and pet pharmacy across India.


AstroTalk, Spiritual tech startup presenting best astrology website for online astrology predictions from the best astrologers of India has raised $20 million in a Series A round led by Left Lane Capital, a New York-based venture capital firm that invests in high-growth consumer and internet technology companies. So far, this round marks as a one of the largest funding rounds conducted in the spiritual-tech industry in India.

AstroTalk will utilize the capital for strategic acquisitions to develop its presence in global markets, set new business verticals and employ senior leadership role. Established in the year 2017 by Puneet Gupta and Anmol Jain, AstroTalk connects the users to astrologers for horoscope readings, birth chart analysis, live prayers & more. The tech-enabled platform possesses more than 15,000 active astrologers and has catered more than 4 crore users up to date.