February 2024’s Startup India funding: logistics, fintech and capital structure

Research snapshot · 16 October 2026. This evolving public-source retrospective has incomplete deal coverage and current-company verification. Provisional mentions are identified separately.

February’s tracker includes growth-stage logistics and financial businesses alongside several forms of capital that do not represent new primary cash for the company. Secondary transactions transfer ownership; debt creates repayment obligations; equity issuance funds a business. Treating all three as one “funding total” would flatten the month into a misleading statistic.

What the tracker records

The supplied tracker contains 27 recorded rows for 2024-02. Its own coverage label is incomplete_public_source_union, so it should be read as an incomplete public-source union rather than a census of Indian startup financing. Rows retain the reported amount and round wording; these are source descriptions, not a harmonised valuation or audited capital-flow series.

Company	Reported date label	Reported amount	Round / instrument	Reported investors	Original round source
Mswipe	28 Feb	$20 Mn	Growth Equity	Alpha Wave Global B Capital	Source
Shadowfax	27 Feb	$100 Mn	Series E	TPG NewQuest Flipkart International Finance Corporation (IFC) Mirae Asset Venture Investments +3	Source
Capillary Technologies	27 Feb	$95 Mn	Secondary	Not stated	Source
Digantara	27 Feb	₹15.54 Cr ($1.88M, extended Series A)	Series A	Naman Finance And Investment Private Limited SIDBI Venture Capital	Source
Interview Kickstart	26 Feb	$10 Mn	Undisclosed	Blume Ventures	Source
cult.fit	26 Feb	₹84.5 Cr / $10.2 Mn	Series F	Valecha Investments Exceed Entertainment Gul Advani Nikhil Kakkar +5	Source
Mokobara	26 Feb	$12 Mn (~₹100 Cr)	Series B	Sequoia Capital India Alteria Capital Ashish Goel Chona Family Office +5	Source
Auxilo Finserve	23 Feb	₹50 Cr	Debt	AK Capital Finance	Source
Yulu	23 Feb	$19.25 Mn	Undisclosed	Bajaj Auto Magna International	Source
NEPRA Resource Management	22 Feb	Undisclosed	Secondary	Blue Earth Capital	Source
Varaha	22 Feb	$8.7 Mn	Series A	RTP Global AgFunder Norinchukin Bank Octave Wellbeing Economy Fund +2	Source
RentoMojo	21 Feb	$25 Mn	Series D	Edelweiss Discovery Fund Series I Chiratae Ventures Magnetic	Source
Dvara KGFS	21 Feb	$27 Mn	Debt	Enabling Qapital FMO	Source
Captain Fresh	16 Feb	$25 Mn	Series C	British International Investment Nekkanti Sea Foods	Source
FlexiLoans	16 Feb	₹60 Cr	Debt	Vivriti Asset Management	Source
Freo	15 Feb	Undisclosed	Debt	Small Industries Development Bank of India	Source
Supertails	13 Feb	$15 Mn	Series B	RPSG Capital Ventures DSG Consumer Partners Fireside Ventures Saama Capital +1	Source
River	8 Feb	$40 Mn	Series B	Yamaha Motor Co., Ltd. Al-Futtaim Group Lowercarbon Capital Maniv Mobility +1	Source
VerSe Innovation	7 Feb	$6.25 Mn (₹50 Cr debt)	Debt	Alteria Capital	Source
BigHaat	7 Feb	$8.4 Mn	Pre-Series C	Ashish Kacholia RBA Finance and Investment Company Advik Tecnocommercial Amee Shah Mehta +6	Source
GlobalBees	7 Feb	₹150 Cr (~$18 Mn) debt via NCDs	Debt	Avendus Capital	Source
Khyaal	6 Feb	$4.2 Mn	Seed	62Ventures Inventus Capital Partners SVQuad Everywhere Ventures +6	Source
Anarock	5 Feb	₹200 Cr (~$25M)	Private Equity	360 ONE Asset	Source
Wishlink	5 Feb	$7 Mn	Series A	Fundamentum Partnership Elevation Capital	Source
Cosmix	1 Feb	₹1 Cr	Angel	Namita Thapar	Source
DevX	1 Feb	$7 Mn	Series B	Ajay Patel Bidiwala Family Office Gala Family Office Mitesh Patel +2	Source
BankBazaar	1 Feb	Over ₹50 Crore	Debt	Nuvama Asset Management Tata Capital	Source

Company profiles in the research record

Profile details come from supplied secondary profiles and are not independently verified here. A reported status is not a live operational check; omitted fields were not supplied.

Company	Business / sector	Founders	Founded	Reported status	Profile source
Mswipe	Fintech	Manish Patel, Ketan Patel	2011	Not stated in linked profile	Profile
Shadowfax	last-mile delivery and logistics services	Abhishek Bansal, Vaibhav Khandelwal	2015	Listed	Profile
Capillary Technologies	Customer Loyalty & CRM	Aneesh Reddy, Krishna Mehra, Ajay Modani	2008	Listed	Profile
Digantara	space situational awareness and orbital monitoring	Anirudh Sharma, Rahul Rawat, Tanveer Ahmed	2018	Not stated in linked profile	Profile
Interview Kickstart	Career Services	Ryan Valles, Soham Mehta	2014	Not stated in linked profile	Profile
cult.fit	Fitness & Wellness	Mukesh Bansal, Ankit Nagori	2016	Unicorn	Profile
Mokobara	Consumer Products	Sangeet Agrawal, Navin Parwal	2019	Not stated in linked profile	Profile
Auxilo Finserve	Education Finance	Akash Bhanshali	2017	Soonicorn	Profile
NEPRA Resource Management	recycling and recovery of dry waste	Sandeep Patel, Dhrumin Patel, Ravi Patel	2006	Not stated in linked profile	Profile
Dvara KGFS	Fintech	Bindu Ananth	2008	Not stated in linked profile	Profile
Captain Fresh	AgriTech / FoodTech	Utham Gowda	2019	Soonicorn	Profile
FlexiLoans	digital loans for small and medium businesses	Manish Lunia, Deepak Jain, Ritesh Jain, Abhishek Kothari	2015	Not stated in linked profile	Profile
Freo	Consumer Lending	Kunal Varma, Anuj Kacker, Balaji Parthasarathy	2015	Not stated in linked profile	Profile
River	Automotive	Aravind Mani, Vipin George	2021	Not stated in linked profile	Profile
BigHaat	Agritech	Sateesh Nukala, Sachin Nandwana, Kiran Vunnam	2015	Not stated in linked profile	Profile
GlobalBees	Brand Aggregator	Nitin Agarwal, Supam Maheshwari	2021	Unicorn	Profile
Khyaal	AgeTech	Hemanshu Jain, Pritish Nelleri	2020	Not stated in linked profile	Profile
Anarock	Proptech	Anuj Puri, Rohin Shah	2017	Investor	Profile
Cosmix	D2C	Vibha Harish, Soorya Jagadish	2019	Acquired	Profile
DevX	Coworking	Parth Shah, Rushit Shah, Umesh Uttamchandani	2017	Listed	Profile
BankBazaar	Consumer Lending	Adhil Shetty, Arjun Shetty, Rati Shetty	2008	Not stated in linked profile	Profile

Three companies to follow through the record

Shadowfax: the original financing and what followed

the supplied company profile places Shadowfax in Hyperlocal delivery and describes its work as last-mile delivery and logistics services. It lists Abhishek Bansal, Vaibhav Khandelwal as founders and gives 2015 as the founding year. For 2024-02, the tracker records $100 Mn in a Series E transaction, with TPG NewQuest Flipkart International Finance Corporation (IFC) Mirae Asset Venture Investments +3 named as investors.

A later entry in the supplied tracker places Shadowfax again in 2025-01, reporting $16.8 Mn (₹141.2 Cr total) as Series F. That observation is linked to its cited report. It is a later record in the research sample, not independently reconciled here to a closed round, a distinct tranche or the same legal entity. Read narrowly, it shows that the company name reappears in subsequent financing coverage; it does not establish survival, performance or investor returns.

A later entry in the supplied tracker places Shadowfax again in 2025-03, reporting $8.76 Mn as Pre-IPO. That observation is linked to its cited report. It is a later record in the research sample, not independently reconciled here to a closed round, a distinct tranche or the same legal entity. Read narrowly, it shows that the company name reappears in subsequent financing coverage; it does not establish survival, performance or investor returns.

Digantara: the original financing and what followed

the supplied company profile places Digantara in Defense & Aerospace and describes its work as space situational awareness and orbital monitoring. It lists Anirudh Sharma, Rahul Rawat, Tanveer Ahmed as founders and gives 2018 as the founding year. For 2024-02, the tracker records ₹15.54 Cr ($1.88M, extended Series A) in a Series A transaction, with Naman Finance And Investment Private Limited SIDBI Venture Capital named as investors.

A later entry in the supplied tracker places Digantara again in 2025-12, reporting $50M (₹435 Cr) as Series B. That observation is linked to its cited report. It is a later record in the research sample, not independently reconciled here to a closed round, a distinct tranche or the same legal entity. Read narrowly, it shows that the company name reappears in subsequent financing coverage; it does not establish survival, performance or investor returns.

The profile also points to later reporting dated 16 Dec 2025: ma-strategic Digantara pivots toward missile-warning/tracking, wins US Space Command and Missile Defense Agency work. The underlying reference is linked here. This is secondary reported context, not independent verification of the claim or a live check of current operations.

FlexiLoans: the original financing and what followed

the supplied company profile places FlexiLoans in Digital Lending and describes its work as digital loans for small and medium businesses. It lists Manish Lunia, Deepak Jain, Ritesh Jain, Abhishek Kothari as founders and gives 2015 as the founding year. For 2024-02, the tracker records ₹60 Cr in a Debt transaction, with Vivriti Asset Management named as investors.

A later entry in the supplied tracker places FlexiLoans again in 2024-08, reporting ₹75 Cr (~$9 Mn) as Debt. That observation is linked to its cited report. It is a later record in the research sample, not independently reconciled here to a closed round, a distinct tranche or the same legal entity. Read narrowly, it shows that the company name reappears in subsequent financing coverage; it does not establish survival, performance or investor returns.

A later entry in the supplied tracker places FlexiLoans again in 2024-09, reporting $34.5 Mn (₹290 Cr) as Series C. That observation is linked to its cited report. It is a later record in the research sample, not independently reconciled here to a closed round, a distinct tranche or the same legal entity. Read narrowly, it shows that the company name reappears in subsequent financing coverage; it does not establish survival, performance or investor returns.

Interpretation (inference): Logistics, orbital monitoring and lending each require different infrastructure and risk assumptions. Their later financing records therefore resist a single “growth round” narrative and do not by themselves indicate operating outcomes.

Limits of this retrospective

This month’s tracker is an incomplete public-source sample. Later cohort entries and profile signals are research leads, sometimes repeated announcements or tranches, and are not reconciled or independently verified here. Current operations remain unknown unless expressly supported by dated evidence; profile labels such as Unicorn or Listed describe classifications, not operating status. Debt, secondary sales, IPOs and fresh equity remain distinct transaction types. The tables preserve tracker entries and provisional mentions rather than claiming a complete market count.