Indian startups saw fresh capital flow into fintech and digital fashion on 21 May 2026, with two funding rounds anchoring the day. Travel-fintech Scapia led the tally with a $63 million raise backed by General Catalyst, while Meta Fashion picked up $400K in pre-seed funding led by Lumikai. On the institutional side, Piper Serica launched an ₹800 crore deeptech fund, and Honasa and Nykaa posted strong Q4 FY26 earnings. Sadev Ventures also strengthened its leadership with the appointment of ex-Snabbit executive Ishan Kansal as cofounder. Bengaluru-based travel-fintech startup Scapia offers co-branded credit cards in partnership with Federal Bank and BOBCARD, targeted at Gen Z and millennial travellers. Founded in 2022 by Anil Goteti, the company also runs a travel app for flights, hotels and domestic transport, alongside products like Scapia Pay, Scapia Store and Scapia Experiences. Scapia has raised $63 million(around ₹600 crore) in a fresh round led by General Catalyst, with participation from existing investors Peak XV Partners and Z47. The round comes nearly a year after its $40 million Series B in April 2025, taking total capital raised to $135 million. A significant portion of the capital will be deployed towards brand building, strengthening the product suite and hiring across engineering, product, data science and design. The startup plans to accelerate its AI-first approach and expand its customer base across India. Operating revenue rose to ₹29 crore in FY25 from ₹17 crore in FY24, while net loss narrowed to ₹83 crore. Meta Fashion is a digital fashion platform that creates trend-led virtual apparel for gaming platforms, including Roblox, Fortnite and ZEPETO. Launched in 2022 by Arjun Goel, it also runs a phygital D2C line that converts virtual bestsellers into real-world products. Meta Fashion has raised approximately $400Kin a pre-seed round led by Lumikai, with participation from angels including Big Bets (the family office of Anton Gauffin), Akshat Rathee and Pratham Mittal. The company claims to have sold over 2.5 million virtual fashion units on Roblox, generating around $300K in gross merchandise value at a 92% gross margin. Proceeds will be used to scale the virtual fashion business, grow its original IP game GlamGirls, and expand across multiple user-generated content platforms. GlamGirls, launched in beta on Roblox in late 2025, has attracted over 100,000 paying users. Global brands, including Walmart, have also partnered with the company to bring real-world products into the digital world. Mumbai-based asset manager Piper Serica has launched a Category II AIF, the Bharat Tech Fund, with a target corpus of ₹600 crore and a ₹200 crore greenshoe option. The fund will back Series A and B startups in semiconductors, AI, spacetech, defence tech, biosciences and fintech infrastructure, writing cheques of ₹25-50 crore. The firm is targeting a gross IRR of around 30% over a six-year holding period and is engaging with IIT Madras, IIT De
