Indian startup news on 16 October 2026
It covers funding for BharatPe, CapGrid, Empirical Machines and RapidCanvas, news from BidAssist and Rupeeflo, IPO news from Cult.fit and launches from Ethereal Exploration Guild, Libas and Urban Company. Sectors: Financial Services, Enterprise Software & IT, Healthcare & Life Sciences, AI & Deep Tech and Professional & Local Services. Stages: Rights issue, Pre-Series B, IPO and Seed. Based in New Delhi, Gurugram, Bengaluru and Noida.
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BharatPe · Funding · 16 October 2026 · $50-75MBharatPe weighs rights issue at lower valuationBharatPe is a Delhi-based fintech company that offers payments and financial services to merchants across India
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BidAssist · News · 16 October 2026BidAssist grows in smaller Indian citiesBidAssist is the AI-driven tender intelligence arm of SoftBank-backed OfBusiness, helping small firms find and assess bids - CA
CapGrid · Funding · 16 October 2026 · ₹46.28 CrCapGrid raises ₹46 crore pre-Series BCapGrid runs an AI-powered platform that helps manufacturers source parts and suppliers and coordinate production - CF
Cult.fit · IPO · 16 October 2026 · ₹950 CrCult.fit gets SEBI nod for IPOCult.fit is a fitness platform co-founded by Myntra founder Mukesh Bansal, running gyms, classes and wellness services - EMEmpirical Machines · Funding · 16 October 2026 · $20MMettle and Peak XV back Empirical MachinesEmpirical Machines is an AI startup started by Shyamal Hitesh Anadkat, who earlier did research work at OpenAI
- EEEthereal Exploration Guild · Launch · 16 October 2026Ethereal Exploration Guild opens rocket test siteEthereal Exploration Guild is a Bengaluru spacetech startup building a fully reusable, medium-lift rocket called Razor Crest Mk 1
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Libas · Launch · 16 October 2026Libas plans 50+ new stores in FY27Libas is a direct-to-consumer ethnic wear brand for women, led by founder and CEO Sidhant Keshwani - MA
MagicBricks · People · 16 October 2026Magicbricks names Mayank Jain as CEOMagicbricks is a property portal with over 15 lakh active listings and more than 2 crore monthly visits
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NeoGrowth · Results · 16 October 2026NeoGrowth slips to ₹72 crore FY26 lossNeoGrowth is a lender focused on small and medium businesses, with loans funded largely by interest income - RA
RapidCanvas · Funding · 16 October 2026 · $29MRapidCanvas lands $29M Series B roundRapidCanvas sells a platform for custom business AI, backed by field engineers who build and run each customer's applications - RU
Rupeeflo · News · 16 October 2026Rupeeflo targets GIFT City for revenue growthRupeeflo, a Bengaluru fintech startup, builds the plumbing for banks and other Indian lenders to move money across borders - SA
Skyroot Aerospace · Partnership · 16 October 2026Skyroot to launch Reflect Orbital's sunlight satellitesSkyroot Aerospace is a Hyderabad spacetech startup that builds small satellite launch rockets under its Vikram series - SN
Snabbit · Results · 16 October 2026Snabbit's FY26 loss hits ₹168 croreSnabbit is a quick-service app that sends trained helpers for cleaning, dishwashing and laundry, promising arrival within minutes - UC
Urban Company · Launch · 16 October 2026Urban Company explores home ACs under NativeUrban Company is a home services marketplace that also sells its own Native range of water purifiers and smart locks - UCUrban Company · Results · 16 October 2026 · ₹2,500 CrUrban Company approves ₹2,500 crore fundraiseUrban Company runs a home services marketplace and is building an instant-help line called InstaHelp