Indian startups made significant funding moves on 12 August 2026, led by Yulu’s $93 million Series C to expand its electric fleet, as the country’s startup ecosystem demonstrates accelerating investment activity and evolving leadership dynamics.
Four Indian startups announced funding on 12 August 2026, with deals spanning electric mobility, children’s technology, driver training and deep tech, as GEF Capital Partners and 12 Flags emerged among the day’s most visible backers. The largest cheque went to Yulu, which raised $93 million in a Series C round to expand its electric fleet and prepare for broader growth.
Bengaluru-based Yulu, founded in 2017 by Amit Gupta, RK Misra, Naveen Dachuri and Hemant Gupta, operates a fleet of about 50,000 electric two-wheelers for urban transport and last-mile deliveries. The company says its vehicles have covered 2.5 million zero-emission kilometres and now help complete more than 750,000 doorstep deliveries a day across 12 major metros and eight franchise-run markets. The round included $63 million in equity led by GEF Capital Partners and $30 million in debt, and Yulu said it aims to quadruple its active fleet to 200,000 vehicles within two years while also preparing for a possible listing.
Wippi, Lane and Quarkitech also closed smaller rounds. Wippi, a Bengaluru startup building screen-free products for children with voice AI and storytelling features, raised $1.2 million in a seed round led by 12 Flags. Lane, which offers driving lessons and licensing support, secured ₹8.5 crore in pre-seed funding from Kae Capital, while Chennai-based Quarkitech raised ₹2 crore from Artha Access and Finvolve for its work on quantum-inspired optimisation tools and sensor-data compression. Quarkitech also separately received a ₹1.5 crore grant linked to the National Quantum Mission.
Beyond the funding announcements, online astrology and spiritual-tech platform Astrotalk became India’s eighth unicorn of 2026 after an employee stock ownership plan buyback implied a $1 billion valuation. Founded in 2017 by Puneet Gupta and Anmol Jain, the Noida company says it now has a revenue run rate above ₹2,500 crore and posted ₹1,176 crore in revenue and ₹285 crore in profit before tax in FY25. It has broadened beyond consultations into spiritual commerce through Astrotalk Store and a new gemstone platform.
In another sign of changing leadership at the top end of Indian business, Tata Sons chairman N Chandrasekaran said he would step down when his current term ends in February 2027, after months of deadlock over whether he should be reappointed. The same day also brought more evidence of active capital formation in the start-up market: Accel closed its ninth India-focused fund at $550 million, part of a wider $3.5 billion raise, while Shiprocket’s ₹1,617 crore initial public offering drew a muted early response from investors.
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