From Drones to Diamonds: This Week's Top Funded Startups (April 12–April 18) Here is a list of the startups that have raised the most money this week, from April 12 to April 18.
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From drone innovation to autonomous robotics and sustainable manufacturing, Indian startups made impressive strides this week, collectively raising over USD 40 million. These funding rounds reflect investor confidence in tech-led businesses across core industries like manufacturing, logistics, defense, and retail. Here's a look at the top startup funding highlights from April 12 to April 18.
OfBusiness
Founded in 2015 by Asish Mohapatra, Ruchi Kalra, and Bhuvan Gupta, Gurugram-based OfBusiness operates a B2B marketplace supporting SMEs in sectors like manufacturing and infrastructure. It enables raw material procurement, logistics, and working capital access. Its fintech arm, Oxyzo, offers non-collateral loans tailored for industrial clients. The company empowers enterprises through efficient supplier discovery and digital transactions.
Funding Amount: USD 11.7 Million
Investor: Cornerstone Ventures
Garuda Aerospace
Chennai-based Garuda Aerospace was launched in 2015 by Agnishwar Jayaprakash. The startup offers end-to-end drone services including manufacturing, training, and drone-as-a-service (DaaS) solutions. It caters to diverse applications in agriculture, surveillance, and infrastructure inspection. With its scalable drone tech, Garuda is shaping aerial solutions for sectors vital to India's economy.
Funding Amount: USD 11.6 Million
Investor: Venture Catalysts
Optimized Electrotech
Founded by Sandeep Shah and Dharin Shah in 2017, Ahmedabad-based Optimized Electrotech builds AI-powered, indigenously designed electro-optic surveillance systems. Its solutions serve defense, aerospace, border control, and space monitoring sectors, covering the entire electromagnetic spectrum. The startup champions India's vision for self-reliant security and imaging technology.
Funding Amount: USD 6 Million
Investors: Blume Ventures, Mela Ventures, 9Unicorns, Rajiv Dadlani Group, Venture Catalysts, Sandeep Shah
Magma
Magma, founded by Neal Thakker in 2022 and headquartered in Ahmedabad, is redefining industrial solutions for Indian factories. It offers raw material sourcing, green energy, biomaterials, waste recycling, and logistics. Designed to be the operational backbone of the manufacturing sector, Magma helps industries scale responsibly with tech-driven efficiency.
Funding Amount: USD 5 Million
Investors: Capria Ventures, Avinya Ventures, Sanjiv Rangrass, General Catalyst, Accion Venture Lab, WEH Ventures
Peppermint Robotics
Pune-based Peppermint Robotics was established in 2019 by Runal Dahiwade at SINE IIT Bombay. The company designs autonomous robots for commercial and industrial applications, including floor-cleaning systems and material handling units. Its cloud-connected, analytics-driven platforms help optimise operational workflows while ensuring sustainable energy usage.
Funding Amount: USD 4 Million
Investors: JDSS, Enrison India Capital, Indian Angel Network (IAN), Vinners
Jewelbox
Founded in May 2022 by siblings Vidita Kochar Jain and Nipun Kochar, Kolkata-based Jewelbox offers lab-grown diamond jewellery via an omnichannel model. The brand operates both online and offline and is present in six cities including Delhi, Bengaluru, and Kolkata. It brings affordable, sustainable luxury to modern consumers seeking alternatives to mined diamonds.
Funding Amount: USD 3.2 Million
Investors: V3 Ventures, Atrium Angels, Dexter Ventures, Infinyte Club, Samarthya Capital, JITO Incubation & Innovation Foundation (JIIF)
This week's funding activity reflects a growing appetite among investors for startups driving industrial innovation, sustainable technology, and new-age consumer products. With capital now fueling their next phase of growth, these ventures are well-positioned to disrupt their respective sectors and deliver scalable impact across India's rapidly evolving economy.
