Gujarat Startups Raise Nearly ₹400 Crore Since April as Funding Revival Gains Momentum

As per the news reports, Gujarat’s startup ecosystem is showing signs of a cautious but clear revival, attracting nearly ₹400 crore in venture funding and strategic capital since April. Investors are turning their attention towards ventures demonstrating capital efficiency and sectoral depth, spanning biotech, semiconductors, agritech, space tech, and consumer brands.

Revival in Gujarat’s Startup Landscape

The state’s entrepreneurial ecosystem is emerging from a funding slowdown, with notable deals signalling renewed confidence. Leading the funding chart is RENÉE Cosmetics, a direct-to-consumer beauty brand that secured $30 million in a Series C round led by Playbook, with secondary investment from Midas.

With more than 200 SKUs, RENÉE plans to strengthen its omnichannel presence across tier I and II cities, enhance technology and warehousing, and grow offline through standalone stores. International expansion in the US, Australia, and the GCC is also on the agenda.

Biotech Startups in Focus

Ahmedabad-based QRL Bioscience raised ₹3 crore from GVFL to advance personalised, cell-based therapies for chronic degenerative diseases. The startup is currently engaged in clinical trials for its diabetic foot ulcer treatment and preclinical development of an osteoarthritis therapy.

In Vadodara, Genexis Biotech, which manufactures animal-origin-free recombinant proteins, received ₹4 crore in seed funding from GVFL. The investor also backed Surat-based agritech firm GrowIT and packaging supplier DCGpac with ₹10 crore each.

Semiconductor and Consumer Product Ventures

Indie Semic, another Ahmedabad-based startup, closed a ₹4 crore pre-Series A round and is targeting a $5–8 million Series A raise by November. Its proprietary IPs, developed under the Make in India initiative, will be integrated into chips for defence, DRDO, drones, and medical devices.

Meanwhile, Ayurvedic baby care brand Baby Organo is preparing to close a funding round of nearly ₹15 crore, according to a news report. 

Space Tech Investments on the Rise

Omspace Rocket & Exploration, incubated at CrAdLE of EDII, raised $3 million (approximately ₹26 crore) in pre-seed funding. The company has developed its own cryogenic engine using liquid oxygen and biomethane, with testing and calibration forming a major part of its upcoming milestones.

Former ISRO scientists behind Orbit Space secured $1 million (₹8.5 crore) from Pi Ventures and IIMA Ventures, while PierSight, focusing on maritime surveillance, raised nearly $2 million (₹17.2 crore), taking its total seed funding to $8 million (₹68 crore).

Broader Sectoral Spread and Policy Support

In April, Ahmedabad-based B2B industrial solutions provider Magma raised $5 million (₹42.8 crore) in a Series A round. Other recent deals include Bull Agro (₹1.1 crore) and Ener Comp (₹2 crore).

Read More: Startup Funding: India Surpasses Germany & Israel in Global Tech Startup Funding in H1 2025! 

Conclusion 

Despite a slowdown in 2023 and early 2024, recent activity reflects a cautious yet growing investor appetite. With sectoral diversity, technology-led innovation, and strategic capital inflows, Gujarat’s startup ecosystem appears set for measured growth in the months ahead.

Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in securities are subject to market risks. Read all related documents carefully before investing.