ETtech Deals Digest: Startups raise $790 million in second week of May

Rapido’s $730 million funding round dominated startup investments this week, driving a sharp increase in overall deal value compared with both the previous week and the same period last year.

Indian startups raised about $790 million across 18 deals during the week, significantly higher than the $120.4 million raised across 19 rounds last week, according to data intelligence platform Tracxn. The figure was also higher than the same week in 2025, when startups raised around $119.8 million across 32 deals.

Besides Rapido’s late-stage round, early-stage companies secured $35.1 million, while seed-stage startups raised $12.1 million.

Top deals of the month

Rapido: Rapido raised $240 million in fresh capital in a round led by Prosus at a valuation of $3 billion. Existing investors WestBridge Capital and Accel also participated. The fundraise was part of a larger $730 million round, which also included a secondary share sale.

HrdWyr: Bengaluru-based semiconductor startup HrdWyr has raised $13 million in a series A funding round led by Ideaspring Capital, with participation from Singularity AMC, Avatar Growth Capital, and existing investor Persistent Systems.

Founded by Ramamurthy Sivakumar, the startup develops AI-native semiconductor chips for edge computing applications across sectors such as consumer electronics, electric vehicles, industrial systems, and data centres, with a focus on low-latency processing and power efficiency.

Wingreens World: Packaged food and beverage company Wingreens secured over Rs 120 crore ($12.6 million) in a series D funding round led by Ashish Kacholia, with participation from Alchemy Fund.

The company is targeting a public listing within the next two years, amid rising consolidation in the consumer health and wellness sector. Wingreens’ portfolio includes brands such as Wingreens Farms, Raw Pressery, Wingreens Harvest, Saucery, and the recently acquired Safe Harvest.