June 2025: Kirana commerce, construction supply and public-market capital

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

A grocery marketplace also builds a route to market

Jumbotail connects kirana shops and supermarkets with food brands through a B2B marketplace and New Retail platform. Its June tracker row records a $120 million Series D with SC Ventures and Artal Asia. On the same date, a company announcement reported acquisition of Solv India and said Jumbotail became a unicorn. The timing links financing and acquisition in the public record, but does not establish how much of the round was allocated to the deal. For a marketplace serving small retailers, the strategic challenge is combining digital ordering with reliable fulfilment and merchant relationships. The acquisition suggests an effort to broaden the platform’s reach; that is an inference from the reported transaction, not a verified integration result.

Construction procurement is a working-capital business

Infra.Market is a B2B procurement marketplace for construction and real-estate materials. June’s tracker reports ₹427.41 crore ($50 million) of debt from Mars Growth Capital. A marketplace in this sector must address supplier coverage, product availability, logistics and payment cycles. Debt financing can be relevant to working capital, but the source does not specify whether this was the purpose of the facility. Later profile signals say Infra.Market filed a confidential draft IPO prospectus in October 2025 and received SEBI observations in January 2026. Those developments place the June borrowing in a later public-market preparation chronology. They do not prove an IPO date, completion or that the debt funded any particular expansion.

Listed-company finance belongs in its own column

The packet also includes [MakeMyTrip](https://lapaasvoice.com/startup/makemytrip/) rows: a $1.25 billion debt event and a $1.44 billion follow-on public offering. MakeMyTrip is already a Nasdaq-listed travel company operating MakeMyTrip, Goibibo and redBus. These transactions belong in the table because the tracker includes them, but they should not be described as ordinary startup venture rounds. A follow-on offering raises capital from public investors; a debt transaction creates a different liability profile. Their scale can dominate a simple sum, which is precisely why this story treats them separately from Jumbotail’s private Series D and Infra.Market’s debt facility.

Comparing business models rather than amounts

June’s three examples span retail distribution, construction supply and online travel. Jumbotail’s operating challenge is serving fragmented merchants; Infra.Market works across bulk materials and project procurement; MakeMyTrip is a listed consumer travel platform. The amount reported for each transaction says little about relative company quality or the efficiency of its capital. The more grounded comparison asks what security or ownership structure is named, whether the issuer is public, and whether the report describes proceeds or only the transaction. Where that evidence is absent, it should remain absent in the analysis.

Used cars are a capital-intensive marketplace

Spinny’s Series F, reported at $170 million in tranches, offers another company-level comparison. The Gurugram platform buys and sells certified used cars with inspection, fixed pricing, warranty, financing and physical hubs. Its later FY25 report cited ₹4,657 crore in revenue and losses reduced by 28% to ₹424 crore. Those figures describe substantial scale alongside continued losses, based on a later secondary report. They help explain why a full-stack used-car marketplace can require significant capital for inventory, refurbishment and customer trust, though the research record does not document the use of Spinny’s June round. Revenue growth alone does not settle unit economics.

Methods and limits

June’s extracted rows form an incomplete public-source union, not a private-startup-only census. The month context may not equal the exact announcement date. All rows are retained, with listed-company and public-market transactions explicitly distinguished. Later milestones are secondary reports; current status is not independently checked.

Reported transactions in the monthly tracker

Every row below is retained from the extracted tracker, including debt, mixed, secondary and listed-company transactions. Amounts, labels and investor names are shown as reported; follow the source link for the underlying coverage.

Company	Reported amount	Reported round / instrument	Investors as reported	Source
Infra.Market	₹427.41 Cr ($50 Mn)	Debt	Mars Growth Capital	original report
Jumbotail	$120 Mn	Series D	SC Ventures Artal Asia	original report
StayVista	₹40 Cr (~$4.6M)	Series B	JSW Ventures Capri Global Family Office DSG Consumer Partners	original report
ShopOS	$20 Mn	Seed	3STATE Ventures Base10 Partners Tribe Capital	original report
Raphe mPhibr	$100 Mn	Series B	General Catalyst Amal Parikh Think Investments	original report
GIVA	₹530 Cr (~$61.5 Mn)	Series C	Creaegis Edelweiss Discovery Fund Epiq Capital Premji Invest	original report
GoKwik	$13 Mn	Growth	RTP Global Peak XV Partners Think Investments Z47	original report
Skippi Ice Pops	₹12 Cr ($1.4 Mn), extended Pre-Series A	Pre-Series A	Surya	original report
EKA Mobility	₹200 Cr (~$23 Mn)	Private Equity	Enam Holdings	original report
MakeMyTrip	$1.25 Bn	Debt		original report
MakeMyTrip	$1.44 Bn	Follow-on Public Offering		original report
RenewBuy	$5 Mn (Rs 45 Cr)	Undisclosed	360 One Apis Partners Derrik Roshan Dsouza Gaurav Deepak +2	original report
Spinny	$170 Mn (in tranches)	Series F	Accel (Accel Leaders Fund) Fundamentum Partnership WestBridge Capital	original report
Garuda Aerospace	$1 Mn	Series B Extension	Narottam Sekhsaria Family Office We Founder Circle	original report
FlexiLoans	$44 Mn (₹375 Cr)	Series C	Accion Digital Transformation Fundamentum Partnership MAJ Invest Nuveen +1	original report
CRED	$72 Mn (INR 617 Cr)	Series G	GIC (Lathe Investment) QED Innovation Labs (Kunal Shah family office) RTP Global Sofina	original report
Decentro	$3.5 Mn	Series B	InfoEdge Ventures Stargazer Growth Uncorrelated Ventures	original report
Groww	₹1,735 Cr ($202.3M)	Series F	GIC ICONIQ Capital	original report
LoanTap	INR 74 Cr (~$8.6 Mn)	Pre-Series C	July Ventures 3one4 Capital Avaana Capital Kae Capital +1	original report
Stable Money	$20 Mn	Series B	Fundamentum Partnership Aditya Birla Ventures Lightspeed Venture Partners RTP Global +1	original report
Udaan	$114 Mn	Series G	Lightspeed Venture Partners M&G Investments	original report

Business, founder and profile classification

Profile fields below come from linked secondary metadata. Business descriptions are paraphrased from the supplied excerpt. “Not stated in packet” means the metadata is silent. Profile classification is a secondary valuation label; it is not operating status. Current operating status is unknown in this collection.

Company	Business and sector (profile-based)	Founders	Founded	Profile classification	Operating status	Profile
Infra.Market	Infra.Market is a B2B online procurement marketplace for real estate and construction materials, with technology as their focal point. (B2B E-commerce)	Souvik Sengupta, Aaditya Sharda	2016	Unicorn (secondary profile)	Unknown in this dataset	profile
Jumbotail	India’s leading B2B marketplace and New Retail platform for food and grocery, connecting kirana (mom-and-pop) stores and supermarkets with brands and staples producers via a full-stack marketplace, in-house logistics/… (B2B E-commerce)	S Karthik Venkateswaran, Ashish Jhina	2015	Unicorn (secondary profile)	Unknown in this dataset	profile
StayVista	Business description not stated in packet	Not stated in packet	Not stated in packet	Not stated in packet (secondary profile)	Unknown in this dataset	profile
ShopOS	Business description not stated in packet	Not stated in packet	Not stated in packet	Not stated in packet (secondary profile)	Unknown in this dataset	profile
Raphe mPhibr	Business description not stated in packet	Not stated in packet	Not stated in packet	Not stated in packet (secondary profile)	Unknown in this dataset	profile
GIVA	GIVA is a Bengaluru-based direct-to-consumer fine jewellery brand specialising in 925 sterling silver, gold (9K/14K/18K) and certified lab-grown diamond jewellery, sold via its own omnichannel network of retail stores… (D2C)	Ishendra Agarwal, Nikita Prasad, Sachin Shetty, Aditya Labroo	2019	Not stated in packet (secondary profile)	Unknown in this dataset	profile
GoKwik	GoKwik is a New Delhi-based (Gurugram/Bengaluru offices) D2C commerce growth platform, founded in November 2020, that helps direct-to-consumer and social-commerce brands reduce checkout friction and returns. Its produ… (Checkout optimization)	Chirag Taneja, Vivek Bajpai, Ankush Talwar	2020	Soonicorn (secondary profile)	Unknown in this dataset	profile
Skippi Ice Pops	India’s first branded ice pop company, co-founded by Ravi and Anuja Kabra in 2021, making natural ice pops with RO water and a patented technology, alongside corn snacks and cream rolls; sold via 20,000+ retail outlet… (D2C)	Ravi Kabra, Anuja Kabra	2021	Shark Tank India (secondary profile)	Unknown in this dataset	profile
EKA Mobility	EKA Mobility is a Pune-based manufacturer of electric commercial vehicles — buses (7m/9m/12m and intercity coach variants), heavy-duty electric trucks, and electric small commercial vehicles (SCVs). It operates as Pin… (Automotive Manufacturing)	Sudhir Mehta	2019	Not stated in packet (secondary profile)	Unknown in this dataset	profile
MakeMyTrip	India’s largest online travel company, operating the MakeMyTrip, Goibibo and redBus brands across air ticketing, hotels/holiday packages, rail, bus, car hire and forex (Consumer Internet)	Deep Kalra, Sachin Bhatia, Keyur Joshi, Rajesh Magow	2000	Listed (secondary profile)	Unknown in this dataset	profile
MakeMyTrip	India’s largest online travel company, operating the MakeMyTrip, Goibibo and redBus brands across air ticketing, hotels/holiday packages, rail, bus, car hire and forex (Consumer Internet)	Deep Kalra, Sachin Bhatia, Keyur Joshi, Rajesh Magow	2000	Listed (secondary profile)	Unknown in this dataset	profile
RenewBuy	Business description not stated in packet	Not stated in packet	Not stated in packet	Not stated in packet (secondary profile)	Unknown in this dataset	profile
Spinny	Spinny is a Gurugram-headquartered full-stack platform for buying and selling certified used cars in India, offering 200-point inspected vehicles, fixed pricing, warranty, financing and a money-back guarantee across a… (Auto Finance / Fintech)	Niraj Singh, Ramanshu Mahaur, Mohit Gupta, Ganesh Pawar	2015	Unicorn (secondary profile)	Unknown in this dataset	profile
Garuda Aerospace	Chennai-based drone technology company that designs, manufactures and customizes UAVs for agriculture, industrial inspection, defense, disaster management and logistics, and also offers Drone-as-a-Service (DaaS) and D… (Aerospace & Defense)	Agnishwar Jayaprakash, Rithika Mohan	2015	Not stated in packet (secondary profile)	Unknown in this dataset	profile
FlexiLoans	FlexiLoans is a digital lending platform (NBFC) for Indian MSMEs, offering collateral-free term loans and supply chain finance sourced 100% digitally through embedded-finance partnerships with e-commerce, payments and…	Manish Lunia, Deepak Jain, Ritesh Jain, Abhishek Kothari	2015	Not stated in packet (secondary profile)	Unknown in this dataset	profile
CRED	CRED (legal name Dreamplug Technologies Private Limited) is a Bengaluru-based Indian fintech company that runs a members-only app rewarding creditworthy users (credit score 750+) for paying credit card bills on time, … (Consumer Credit / Credit Cards)	Kunal Shah	2018	Unicorn (secondary profile)	Unknown in this dataset	profile
Decentro	Full-stack Banking-as-a-Service platform offering APIs and SDKs for banking, payments, KYC/verification, and debt recovery so businesses can launch fintech products in days instead of months. (API Infrastructure)	Rohit Taneja, Pratik Daudkhane	2020	Not stated in packet (secondary profile)	Unknown in this dataset	profile
Groww	Groww (legal entity: Billionbrains Garage Ventures Limited) is an Indian fintech company and India’s largest stockbroker by active NSE client count and largest mutual-fund SIP distributor, offering stocks, F&O, mutual… (Asset Management)	Lalit Keshre, Harsh Jain, Neeraj Singh, Ishan Bansal	2016	Listed (secondary profile)	Unknown in this dataset	profile
LoanTap	Digital lending platform for salaried professionals and millennials offering flexible, customized loan products such as EMI-free loans, personal overdraft, advance salary, wedding, holiday and rental deposit loans, di… (Consumer Lending)	Satyam Kumar, Vikas Kumar	2016	Not stated in packet (secondary profile)	Unknown in this dataset	profile
Stable Money	Business description not stated in packet	Not stated in packet	Not stated in packet	Not stated in packet (secondary profile)	Unknown in this dataset	profile
Udaan	Business description not stated in packet	Not stated in packet	Not stated in packet	Not stated in packet (secondary profile)	Unknown in this dataset	profile

Provisional weekly-report mentions

These rows are secondary-table mentions only. The table’s week/month heading is not an exact announcement date; rows are not verified extra deal claims. Exact company + raw amount + raw round matches to the tracker were removed, while variants may remain.

Company	Sector / headquarters	Amount as listed	Round as listed	Investors as listed	Weekly source
Raphe mPhibr	Advanced Hardware & Technology / Noida	$100 Mn	-	General Catalyst, Think Investments, Amal Parikh	weekly table
GIVA	Ecommerce / Bengaluru	$62 Mn	-	Creaegis, Premji Invest, Epiq Capital, Edelweiss Discovery Fund	weekly table
EKA Mobility	Cleantech / Pune	$23 Mn	-	Enam Holdings	weekly table
ShopOS	Artificial Intelligence (AI) / Ahmedabad	$20 Mn	Seed Round	3STATE Ventures	weekly table
GoKwik	Fintech / New Delhi	$13 Mn	-	RTP Global, Z47, Peak XV Partners, Think Investments	weekly table
Sahi	Fintech / Mumbai	$10.5 Mn	Series A	Accel, Elevation Capital	weekly table
Fabheads	Advanced Hardware & Technology / Chennai	$10 Mn	Series A	Accel, Trifecta Capital	weekly table
Kazam	Cleantech / Bengaluru	$6.2 Mn	Series B	International Finance Corporation, Vertex Ventures SEA & India, Avaana Capital	weekly table
Flipspaces	Real Estate Tech / Mumbai	$5.9 Mn	-	Asiana Fund	weekly table
StayVista	Travel Tech / Mumbai	$5 Mn	Series B	JSW Ventures, DSG Consumer Partners, Capri Global Family Office	weekly table
Rabitat	Ecommerce / New Delhi	$4.6 Mn	Series A	RPSG Capital, DSG Consumer Partners, Capital A, Accurize Syndicate, Flair Writing Family Office, Eagle Venture Fund, AG Ventures, Vedang Patel, Harsh Lal, Rohin Samtaney, Ramakant Sharma, Sourabh Jain, Ankit Nagori	weekly table
ZILO	Consumer Services / Mumbai	$4.5 Mn	Seed Round	Info Edge Ventures, Chiratae Ventures	weekly table
Evera Cabs	Travel Tech / New Delhi	$4 Mn	Debt Round	Mufin Green Finance	weekly table
Coratia Technologies	Advanced Hardware & Technology / Rourkela	$2 Mn	Pre-Series A	MGF-Kavachh	weekly table
Fantail	Enterprise Services / Surat	$1.6 Mn	Seed Round	Riverwalk Holdings, Incubate Fund Asia, All in Capital	weekly table
Armory	Advanced Hardware & Technology / Gurugram	$1.5 Mn	-	growX Ventures, Industrial 47, Antler, AC Ventures, Dexter Ventures	weekly table
Jobizo	Enterprise Tech / Gurugram	$1.4 Mn	Pre-Series A	Inflection Point Ventures, Alkemi Ventures	weekly table
Skippi	Ecommerce / Hyderabad	$1.4 Mn	Pre-Series A	-	weekly table
AuraML	Artificial Intelligence (AI) / Bengaluru	$1 Mn	Pre-Seed	Turbostart, DeVC, GSF Accelerator, Indian Angel Network	weekly table
Innovodigm	Health Tech / Kolkata	$643K	Seed	IAN Group	weekly table
Truliv	Real Estate Tech / Chennai	-	-	Bennett, Coleman & Co	weekly table
WIOM	Consumer Services/ Enterprise Services / New Delhi	$35 Mn	-	Bertelsmann India Investments, Accel, Prosus, Promaft Partners, RTP global	weekly table
POP	Fintech / Bengaluru	$30 Mn	-	Razorpay	weekly table
Oben Electric	Cleantech / Bengaluru	$11.5 Mn	Series A	Helios Holdings, Sharda family office, Kay family	weekly table
Techfino	Fintech / Bengaluru	$7.5 Mn	-	Stellaris Venture Partners, Saison Capital	weekly table
Saswat Finance	Fintech / Mumbai	$2.6 Mn	Pre-Series A	Ankur Capital, Incubate Fund Asia	weekly table
illumine	Enterprise Tech / Chennai	$2.5 Mn	Seed	Prime Venture Partners	weekly table
Darwix AI	Artificial Intelligence / Gurugram	$1.5 Mn	-	Rebalance, IPV, JITO Incubation and Innovation Foundation, Growth Sense, Growth91, Ankit Nagori, Sanjay Suri, Amit Lakhotia, Mekin Maheshwari	weekly table
7 Ring	Ecommerce / Mumbai	$462K	Pre-Series A	Venture Catalysts, Anchorage Capital Partners, Sheth family office	weekly table
Nuvie	Ecommerce / Bengaluru	$450K	Pre-Seed	PedalStart	weekly table
Xportel	Logistics / Delhi	-	Seed	Rukam Sitara, Flipkart Ventures	weekly table
Decentro	Fintech / Bengaluru	Rs 30 Crore	Series B	InfoEdge Ventures	weekly table
Sanlayan Technologies	Defence Electronics / Bengaluru	Rs 186 crore	Series A	Gemba Capital, Singularity Ventures, and Shastra VC	weekly table
Roomstory.ai	AI / Gurugram	Rs 3 crore	Pre-seed	Rukam Sitara Fund	weekly table
Vecmocon Technologies	Deep-tech / New Delhi	$18 Mn	Series A	EIF	weekly table
CRED	Fintech / Bengaluru	Rs 617 crore	Down Round	GIC’s Lathe Investment	weekly table
Flick TV	OTT platform / Noida	$2.3 Mn	Seed round	Stellaris Venture Partners	weekly table
Kazam	Electric mobility / Bengaluru	$6 Mn	Series B	Vertex Ventures	weekly table
Wow! Momo	QSR / Kolkata	Rs 85 Cr	Debt Round	Stride Ventures	weekly table
PowerUp Money	Wealthtech / Bengaluru	$7.1M	Seed round	Accel	weekly table
FlexiLoans	NBFC / Mumbai	Rs 375 Cr	Series C	BII	weekly table
Garuda Aerospace	Drone startup / Chennai	$1 million	Funding round	Narotam Sekhsaria Family Office	weekly table
Piston	Digital payment / Chennai	$6.1M	Seed round	Spark Capital, Pear VC and BOND	weekly table
Leumas	Deeptech / Bengaluru	$2.2 Mn	Seed round	Capital 2B	weekly table
Machaxi	Sportstech / Bengaluru	$1.5 Mn	Funding Round	Rainmatter, Prakash Padukone	weekly table
Knest	Construction-tech / Pune	Rs 300 crore	Funding Round	Lighthouse	weekly table
MetaShot	Gaming / Bengaluru	Rs 2 crore	Covertible Debt	Karnataka Govt’s Venture Fund	weekly table
Repello AI	AI security / Bengaluru	$1.2 million	Seed Funding	Venture Highway	weekly table
GIVA	D2C Jewellery / Bengaluru	Rs 450 Cr	Series C	Creaegis	weekly table
Kisah	Men’s ethnicwear / Kolkata	Rs 13 crore	Funding Round	Wow Momo	weekly table
Iom Bioworks	Deep science / Bengaluru	Rs 4 Cr	Seed Funding	Inflection Point Ventures	weekly table
PlutoPe	Decentralized finance (DeFi) / Gurugram	Rs 5 Cr	Pre-seed Round	Manit Gupta	weekly table
Spinny	Used car platform / Gurugram	$30 million	Series F	WestBridge Capital	weekly table
Qubeats	Quantum Computing / Telangana	$2.91M	Grant (Prize Money)	Corporate: iDEX	weekly table
Nxt Meal	Food Tech / Karnataka	$750K	Seed	-	weekly table
The Tarzan Way	Online Travel / Delhi	$233K	Seed	Inflection Point Ventures	weekly table
LoanTap	Alternative Lending / Maharashtra	$6.29M	Series B	July Ventures	weekly table
LoanTap	Alternative Lending / Maharashtra	$2.33M	Venture Debt	-	weekly table
Plush	Personal Care Products / Tamil Nadu	$4.66M	Series B	Blume Ventures	weekly table
Naagin Sauce	Food & Beverage / Maharashtra	$2.1M	Seed	8i Ventures	weekly table
Khari Foods	Online Grocery / Delhi	$350K	Seed	Meri Punji	weekly table
Stride Green	Green SME Loans / Haryana	$3.5M	Seed	Micelio Tech Fund, Incubate Fund India	weekly table
Handpickd	Online Grocery / Delhi	$2.53M	Seed	Genesia Ventures, Beenext	weekly table
Gully Labs	Fashion Tech / Uttar Pradesh	$129K	Venture Debt	Stride Ventures	weekly table
Manipal Group	Education, Healthcare / Karnataka	$600M	Conventional Debt	KKR	weekly table
GyanDhan	Higher Education Tech / Delhi	$5.85M	Series A	Pravega Ventures, Gray Matters Capital	weekly table
Shapoorji Pallonji	Real Estate / Maharashtra	$75M	Conventional Debt	Synergy, Cerberus Capital Management	weekly table
Udaan	B2B E-Commerce / Karnataka	$114M	Series G	M&G, Samena Capital	weekly table
Pepperfry	Home Improvements / Maharashtra	$5.06M	Series F	Norwest Venture Partners	weekly table
Spense	Investment Tech / Karnataka	$1.85M	Seed	GrowthCap Ventures	weekly table
Samunnati	Agri-financing / Tamil Nadu	$5.84M	Conventional Debt	Elevar Equity	weekly table
Samunnati	Agri-financing / Tamil Nadu	₹50 Cr (~$6M)	Strategic Investment	-	weekly table
Farmako	HealthTech / Uttarakhand	Undisclosed	Seed	Genesia Ventures, Y Combinator	weekly table
Snitch	D2C Menswear Brand / -	$40M	Growth	360 One Asset, IvyCap, SWC Global, Ravi Modi Office	weekly table
Stable Money	FinTech / -	$20M	Series A	Fundamentum, Aditya Birla Ventures, Lightspeed	weekly table
Decentro	API Banking / Fintech / -	₹30 Cr (~$3.6M)	Series B	InfoEdge Ventures, Y Combinator	weekly table
Biopeak	Wellness & Longevity / -	$3M	Seed	Claypond Capital, Rainmatter	weekly table
Kosmc AI	Social-Commerce Infrastructure / -	Undisclosed	Pre-Seed	-	weekly table
Atlanture Sports	Sports & Media / -	₹21 Cr (~$2.5M)	Strategic Investment	Rannvijay Singha	weekly table
True Diamond	Lab-Grown Diamond Jewellery / -	₹26 Cr (~$3.1M)	Pre-Series A	-	weekly table
Upurfit	Sports Wellness / -	Undisclosed	Strategic Investment	Jonty Rhodes (Angel Investor)	weekly table

Sources

• Infra.Market — reported transaction
• Infra.Market — profile
• Jumbotail — reported transaction
• Jumbotail — profile
• StayVista — reported transaction
• StayVista — profile
• ShopOS — reported transaction
• ShopOS — profile
• Raphe mPhibr — reported transaction
• Raphe mPhibr — profile
• GIVA — reported transaction
• GIVA — profile
• GoKwik — reported transaction
• GoKwik — profile
• Skippi Ice Pops — reported transaction
• Skippi Ice Pops — profile
• EKA Mobility — reported transaction
• EKA Mobility — profile
• MakeMyTrip — reported transaction
• MakeMyTrip — profile
• RenewBuy — reported transaction
• RenewBuy — profile
• Spinny — reported transaction
• Spinny — profile
• Garuda Aerospace — reported transaction
• Garuda Aerospace — profile
• FlexiLoans — reported transaction
• FlexiLoans — profile
• CRED — reported transaction
• CRED — profile
• Decentro — reported transaction
• Decentro — profile
• Groww — reported transaction
• Groww — profile
• LoanTap — reported transaction
• LoanTap — profile
• Stable Money — reported transaction
• Stable Money — profile
• Udaan — reported transaction
• Udaan — profile
• Monthly tracker
• Weekly funding table (provisional mentions)