India’s startup and business ecosystem is witnessing developments across IPOs, venture capital funding, artificial intelligence, fintech, enterprise software and digital infrastructure. Jio Platforms is set to open its public offering for subscription on October 21, while ZETWERK has raised ₹2,251 crore from anchor investors ahead of its IPO. Meanwhile, CtrlS Datacenters plans a ₹10,000 crore investment in Bihar for a 150 MW AI factory, and several startups have announced new funding rounds.
Jio Platforms Limited (JPL) is set to open its IPO for subscription on October 21, marking a significant development in India’s public markets. Separately, ZETWERK has raised ₹2,251 crore from anchor investors ahead of its proposed IPO.
In the banking sector, Canada’s Fairfax Financial Holdings is set to acquire a majority stake in IDBI Bank in a deal valued at $5.56 billion. The Centre is also preparing to introduce a data centre policy amid concerns over rising power costs, as demand for digital infrastructure and AI computing capacity grows.
CtrlS Datacenters plans to invest ₹10,000 crore in Bihar to establish a 150 MW AI factory. The proposed investment highlights the growing focus on expanding data centre and artificial intelligence infrastructure beyond established technology hubs.
Google.org has committed $15 million to The/Nudge to support the digitisation of India’s micro, small and medium enterprises (MSMEs). In another enterprise technology development, Freshworks is set to acquire Torii to expand its AI spend governance offerings. Infotech has also acquired Zluri, a SaaS startup backed by Lightspeed.
The funding ecosystem saw several transactions across sectors. Deeptech investor Shastra VC is nearing the final close of its $100 million Fund III. Hitachi Ventures led a $25 million strategic funding round in Scimplify, while YC-backed Clueso raised $10 million in a round led by Dharana Capital. Parallel Loop secured $6.6 million in a seed round led by 3one4 Capital, and Spill Games raised $10.5 million in a Series A round led by Elevation Capital.
Enterprise AI startup RevRag.AI raised $2.5 million in a seed round, while supplements brand The Stack secured ₹21.5 crore in seed funding. Pre-owned goods marketplace Circle raised ₹25 crore, led by Nexus Venture Partners. OXG Space raised ₹17 crore in a funding round led by Aum Ventures, and RocketPay secured ₹10 crore from investors led by Sandeep Jain and his group.
In consumer businesses, Traya is reportedly in talks to raise around ₹300 crore from Verlinvest. General Atlantic and ChrysCapital are also reportedly discussing an investment of ₹300–400 crore in ice cream brand Hocco, potentially increasing its valuation by 80%. Former Dyson India managing director Ankit Jain has launched Foundry with a ₹12 crore pre-seed round.
Groww reported a profit of ₹725 crore on revenue of ₹1,502 crore in the second quarter of FY2027. Meanwhile, Astra Studios and VerSe Innovation have launched an AI content production alliance, signalling further collaboration between artificial intelligence and digital media businesses.
Together, these developments reflect continued activity across India’s capital markets, startup funding, AI infrastructure, fintech and consumer brands, alongside growing investor interest in technology-led businesses.
