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Daily Indian Funding Roundup & Key News - 16 June

Daily Indian Funding Roundup & Key News - 16 June 2026: SolarSquare Bags $53 Mn, Speedioo Raises ₹10 Cr, Turtlemint IPO Opens 19 June

· IPO & Markets · StartupTalky

Cleantech, AI SaaS, wealthtech and consumer brands drew investor capital today, across six disclosed rounds. SolarSquare led the day, raising ₹510 crore (~$53 million) in Series C funding to scale its rooftop solar business. Other rounds went to ContraVault AI, CREST, TrackerSuite AI, Speedioo and Korean FMCG brand Gimi Michi. In key news, insurtech firm Turtlemint's IPO opens on 19 June, while snacking brand Troovy is in talks to raise up to ₹200 crore led by ADIA. SolarSquare is a full-stack residential solar brand founded in 2015 by Shreya Mishra, Neeraj Jain and Nikhil Nahar. It handles everything from design and installation to financing and maintenance, having served nearly 50,000 homes to date. SolarSquare has raised ₹510 crore(~$53 million) in its Series C round led by existing backer Lightspeed. Lowercarbon Capital, Rainmatter and Good Capital also participated. SolarSquare has now raised more than $100 million to date. The fresh capital will fund expansion to new cities, technology development, platform scaling and hiring. The company claims an annual revenue run rate of ₹1,000 crore. The raise comes as India's rooftop solar market gains traction on the back of the Centre's PM Surya Ghar scheme. Bengaluru-based ContraVault AI runs an AI-powered procurement intelligence platform. Founded in 2024 by Sayan Sen, Isha Juneja and Tanmay Juneja, it helps firms across construction, energy, power, defence and aerospace streamline tender bidding. The startup has raised ₹29.3 crore (~$3.1 million) in a pre-Series A round led by Chiratae Ventures, with participation from existing backer Titan Capital Winners Fund. It had earlier raised about $600,000 from Titan Capital and angel investors. The funds will support expansion in the US, product development and team building. ContraVault serves 40 customers in India, including Voltas, Shapoorji Pallonji and Adani Group. It claims clients cut tender processing time by 60-70%. CREST is an AI-native fractional family office and asset management firm co-founded by Girish Singhi and Zuhaib Khan. It partners with founders, families, HNIs, emerging UHNIs and institutions to manage, structure and preserve wealth. The company has raised $3.1 million (~₹26 crore) in a pre-seed round led by BEENEXT, Sparrow, Shastra VC, DeVC, Warmup Ventures, Atrium Ventures and 91ventures. Angel investors including Amit Ranjan, Revant Bhate and Shantanu Deshpande also participated. The capital will strengthen its technology platform, expand its family office and investment teams, and build its asset management offerings. India is home to more than 900,000 dollar millionaires, a figure expected to nearly double by 2030. Pune-based Speedioo operates a full-stack platform for buying and selling used two-wheelers. It was founded by former CredR and Rentomojo executives Sagar Potphode and Ajit Deshmukh, with a focus on transparency, pricing and procurement. Speedio has raised ₹10 crore(~$1.2 million) in a seed round led by Atomic Capi

Original source: StartupTalky
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