--- url: 'https://qubit.capital/blog/india-series-b-plus-weekly-funding-roundup-mar-7-14-2026' title: 'India Series B+ Weekly Funding Roundup (Mar 7-14, 2026): $106.5M Raised Across 4 Deals' author: name: Sagar Agrawal url: 'https://qubit.capital/blog/author/sagar' date: '2026-03-14T16:34:52+05:30' modified: '2026-03-17T17:34:51+05:30' type: post summary: 'Four Indian growth-stage startups raised $106.5M this week across digital testing, drone logistics, consumer health, and seafood supply chain. Full deal analysis inside.' categories: - Weekly Funding Roundup image: 'https://qubit.capital/wp-content/uploads/2026/03/India-series-b-funding-weekly-roundup-march-week-2.webp' published: true --- # India Series B+ Weekly Funding Roundup (Mar 7-14, 2026): $106.5M Raised Across 4 Deals India’s growth-stage ecosystem saw four deals totaling $106.5M this week, spanning digital experience testing, drone logistics, consumer health, and seafood supply chains. Mozark led with a $40M Series B backed by the International Finance Corporation for its real-world digital testing platform, while Captain Fresh raised $34M in debt financing as it prepares for a $400M IPO. Mosaic Wellness closed $23.5M to scale its multi-brand digital health platform, and Skye Air Mobility raised $9M to expand India’s leading drone delivery network. A notable theme this week is the diversity of financing instruments and investor types. Mozark attracted a multilateral development finance institution (IFC), Captain Fresh used sustainability-linked debt rather than equity, Mosaic Wellness brought in a wealth management firm (360 ONE), and Skye Air assembled an angel-and-family-office syndicate. Indian growth-stage companies are increasingly matching capital type to business stage, a sign of ecosystem maturity beyond the typical VC-only playbook. Weekly Funding Roundup MAR 7-14, 2026 $106M TOTAL RAISED 4 DEALS CLOSED Mixed STAGE $26.625M AVG DEAL SIZE INDIA TOP REGION BY STAGE Series B $49M 46% Growth (debt financing) $34M 32% Growth $23.5M 22% BY SECTOR Mozark SaaS / Digital Experience Testing $40M Captain Fresh Supply Chain / Seafood $34M Mosaic Wellness Healthtech / D2C $23.5M Skye Air Mobility Deep Tech / Drone Logistics $9M Table of Contents - [1. Mozark Raises $40M Series B for Real-World Digital Experience Testing](#1-mozark-raises-$40m-series-b-for-real-world-digital-experience-testing) [Deal Overview](#deal-overview) - [Investor Profile](#investor-profile) - [Company and Leadership](#company-and-leadership) - [Problem and Opportunity](#problem-and-opportunity) - [Product and Technology](#product-and-technology) - [Use of Proceeds and Vision](#use-of-proceeds-and-vision) - [Market Context](#market-context) - [2. Captain Fresh Raises ₹290 Crore ($34M) Debt Financing Ahead of IPO](#2-captain-fresh-raises-₹290-crore-$34m-debt-financing-ahead-of-ipo) [Deal Overview](#deal-overview-1) - [Investor Profile](#investor-profile-1) - [Company and Leadership](#company-and-leadership-1) - [Problem and Opportunity](#problem-and-opportunity-1) - [Product and Technology](#product-and-technology-1) - [Use of Proceeds and Vision](#use-of-proceeds-and-vision-1) - [Market Context](#market-context-1) - [3. Mosaic Wellness Raises ₹200 Crore ($23.5M) to Scale Digital-First Consumer Health Brands](#3-mosaic-wellness-raises-₹200-crore-$23-5m-to-scale-digital-first-consumer-health-brands) [Deal Overview](#deal-overview-2) - [Investor Profile](#investor-profile-2) - [Company and Leadership](#company-and-leadership-2) - [Problem and Opportunity](#problem-and-opportunity-2) - [Product and Technology](#product-and-technology-2) - [Use of Proceeds and Vision](#use-of-proceeds-and-vision-2) - [Market Context](#market-context-2) - [4. Skye Air Mobility Raises $9M Series B to Scale India’s Drone Delivery Network](#4-skye-air-mobility-raises-$9m-series-b-to-scale-india-s-drone-delivery-network) [Deal Overview](#deal-overview-3) - [Investor Profile](#investor-profile-3) - [Company and Leadership](#company-and-leadership-3) - [Problem and Opportunity](#problem-and-opportunity-3) - [Product and Technology](#product-and-technology-3) - [Use of Proceeds and Vision](#use-of-proceeds-and-vision-3) - [Market Context](#market-context-3) - [Lessons For Founders](#lessons-for-founders) ## 1. Mozark Raises $40M Series B for Real-World Digital Experience Testing ### Deal Overview - Stage: Series B - Sector: SaaS / Digital Experience Testing - Geography: Singapore-headquartered with significant India presence - Round size: $40M ### Investor Profile - Led by IFC (International Finance Corporation), the private-sector arm of the World Bank Group - Joined by RMB Capitalworks (South African PE firm) and Kalaari Capital (leading Indian VC) - IFC participation signals both financial return potential and development impact — IFC typically invests in companies that improve digital infrastructure in emerging markets - Kalaari Capital has backed Indian tech successes including Dream11 and Cure.fit ### Company and Leadership - [Mozark](https://www.mozark.ai/) measures real-world digital performance across devices, networks, and geographies - Serves 50+ enterprise and government clients in 20+ countries - Singapore-headquartered with significant India operations, positioning for both Southeast Asian and global enterprise markets ### Problem and Opportunity - Traditional testing tools simulate user conditions in lab environments, but real-world performance varies dramatically across devices, networks, and geographies - For enterprises and governments in emerging markets, network variability and device fragmentation make lab testing particularly unreliable - Digital service delivery (banking, government services, e-commerce) in developing countries depends on performance across low-bandwidth and diverse device environments ### Product and Technology - Platform tests digital experiences under real-world conditions, actual devices, actual networks, actual geographies - Unlike synthetic monitoring (Datadog, New Relic), Mozark captures performance as real users experience it - Enterprise and government client base in 20+ countries creates a diverse testing dataset and geographic coverage - Bridges the gap between development testing and production user experience ### Use of Proceeds and Vision - Global expansion of testing infrastructure and geographic coverage - Deepening enterprise and government client relationships - Vision: become the standard for real-world digital experience measurement, particularly in emerging markets where network and device variability is highest ### Market Context - Digital experience monitoring market is valued at $5B+ and growing as enterprises prioritize user experience over uptime - Competitors include Datadog, New Relic, and Catchpoint (synthetic monitoring) and Speedchecker and RealDevice (real-device testing) - Government digital transformation in India, Southeast Asia, and Africa is driving demand for real-world performance testing ## 2. Captain Fresh Raises ₹290 Crore ($34M) Debt Financing Ahead of IPO ### Deal Overview - Stage: Growth (debt financing) - Sector: Supply Chain / Seafood - Geography: India - Round size: ₹290 crore (~$34M), sustainability-linked debt financing ### Investor Profile - Funded by Blue Earth Capital, a Swiss impact investment firm focused on sustainability-linked financing - Sustainability-linked structure aligns capital cost with ESG performance targets - Debt financing (rather than equity) ahead of a planned IPO preserves founder and existing investor ownership ### Company and Leadership - [Captain Fresh](https://www.captainfresh.in/) is an IPO-bound seafood supply chain platform - Previously filed for a $400M India IPO - Has built a technology-enabled global sourcing and distribution network for seafood ### Problem and Opportunity - India’s seafood supply chain is highly fragmented with multiple intermediaries between fishers and consumers/exporters - Cold chain infrastructure, quality control, and traceability are inconsistent across the supply chain - India is one of the world’s largest seafood producers but export value is limited by supply chain inefficiencies ### Product and Technology - Technology-enabled seafood supply chain connecting producers to buyers with integrated logistics, quality assurance, and cold chain management - Global sourcing and distribution capabilities, not just domestic but international markets - Platform approach aggregates supply and demand, creating price transparency and reducing waste ### Use of Proceeds and Vision - Scaling global sourcing and distribution capabilities - Strengthening cold chain and logistics infrastructure ahead of IPO - Vision: become India’s leading technology-enabled seafood supply chain platform with global reach ### Market Context - India’s seafood market is valued at $12B+ with strong export growth - Competitors include FreshToHome, Licious (broader protein), and WayCool (broader food supply chain) - IPO filing signals maturity — sustainability-linked debt is an efficient pre-IPO capital instrument ## 3. Mosaic Wellness Raises ₹200 Crore ($23.5M) to Scale Digital-First Consumer Health Brands ### Deal Overview - Stage: Growth - Sector: Healthtech / D2C - Geography: Thane, Maharashtra, India - Round size: ₹200 crore (~$23.5M) ### Investor Profile - Funded by 360 ONE, one of India’s largest wealth management and asset management firms - Previous investors include Peak XV Partners (formerly Sequoia India), Elevation Capital, and Think Investments - Early backer Spring Marketing Capital made a partial exit in this round — a healthy sign of secondary liquidity ### Company and Leadership - [Mosaic Wellness](https://www.mosaicwellness.in/) was founded in 2019-2020 by Revant Bhate (CEO, ex-Partner at Kalaari Capital) and Dhyanesh Shah (IIM Ahmedabad) - Revenue nearly doubled in FY25: ₹736 crore (up from ₹333 crore in FY24) - Losses slashed 70% to ₹11.8 crore, a clear path to profitability - Total funding post-round: approximately $84M ### Problem and Opportunity - India’s consumer health market is fragmented between generic pharmacy products and expensive specialist consultations - Stigmatized health categories (men’s hair loss, sexual health, women’s hormonal health) have particularly low access to quality care and products - Digital-first approach combines telemedicine consultations with product delivery, solving both access and stigma barriers ### Product and Technology - Four digital-first consumer health brands: Man Matters (men’s health), Be Bodywise (women’s health), Little Joys (children’s wellness), and RootLabs (nutrient gummies) - Combines telemedicine doctor consultations with D2C wellness products , creating a prescription-driven flywheel - Serves 2.5M+ men, 4M+ women, and 2M+ parents annually, 8.5M+ total users - Multi-brand portfolio covering all household demographics creates natural cross-sell opportunities ### Use of Proceeds and Vision - Broadening consumer health footprint across India - Investing in digital infrastructure and strengthening product portfolio - Vision: India’s leading digital-first consumer health company, not just a D2C brand but a health platform combining consultations with commerce ### Market Context - India’s digital healthcare market projected to reach ₹882.79B by 2027 (21.36% CAGR) - Competitors include BabyOrgano, Ekincare, The Good Bug, and SuperYou - Revenue nearly doubling while losses fell 70% positions the company as an IPO candidate in the medium term ## 4. Skye Air Mobility Raises $9M Series B to Scale India’s Drone Delivery Network ### Deal Overview - Stage: Series B - Sector: Deep Tech / Drone Logistics - Geography: Gurugram, India - Round size: $9M ### Investor Profile - Led by IAN Alpha Fund with participation from AVNM Ventures, Faad Capital, and Bajaj Capital - IAN (Indian Angel Network) Alpha Fund is a structured angel-to-institutional bridge fund, typical for Indian deep tech companies that need patient capital - Bajaj Capital’s participation adds financial services distribution expertise ### Company and Leadership - [Skye Air Mobility](https://www.skyeair.tech/) was founded circa 2021 by Ankit Kumar (CEO) - Has completed 3.6 million deliveries, one of the highest delivery counts for any drone logistics company globally - Operates under DGCA (Directorate General of Civil Aviation) approvals in India ### Problem and Opportunity - India’s quick commerce boom demands sub-15-minute delivery for lightweight packages, drones offer a faster alternative to road-based last-mile logistics - Healthcare delivery (vaccines, blood samples, emergency medications) to rural and semi-urban areas faces severe infrastructure constraints - India’s government actively promotes drone adoption through PLI scheme and Drone Shakti initiative, creating regulatory tailwinds ### Product and Technology - Drone-as-a-service platform providing the full stack: drones, air traffic management, and regulatory compliance - Partners integrate drone delivery without building capability themselves - 3.6M deliveries provide massive operational data on routes, payload optimization, weather patterns, and regulatory compliance - Physical infrastructure network (landing pads, charging stations, maintenance) across Indian cities creates a durable advantage ### Use of Proceeds and Vision - Scaling drone fleet and operations infrastructure - Expanding geographic coverage across India - Strengthening air traffic management and autonomous operations technology - Vision: become India’s leading drone logistics infrastructure, the backbone that e-commerce, healthcare, and quick commerce companies plug into ### Market Context - India’s drone services market is projected at $4.5-6B by 2030 - Competitors include TechEagle, Aarav Unmanned Systems, Zipline (global), and Matternet - 3.6M deliveries is a significant lead over any Indian competitor, operational data at this scale creates regulatory credibility and route optimization advantages ## Lessons For Founders - Match your capital instrument to your stage and goal. Captain Fresh used sustainability-linked debt to preserve equity ahead of an IPO, Mosaic Wellness brought in a wealth management firm for growth capital, and Skye Air used angel-to-institutional bridge capital for deep tech. Indian founders now have a wider capital toolkit than ever , equity is not the only option. - Operational data compounds into a moat. Skye Air’s 3.6M deliveries and Mosaic Wellness’ 8.5M annual users demonstrate that in India’s scale markets, execution volume creates defensibility that technology alone cannot replicate. Investors increasingly price operational track record over technical novelty. - Near-profitability is the new growth-stage requirement. Mosaic Wellness slashing losses 70% while doubling revenue is exactly the profile Indian growth investors now demand. The era of funding growth-at-all-costs in India is firmly over — unit economics matter at every round. - Government alignment accelerates Indian deep tech. Skye Air’s DGCA approvals and Mozark’s government client base both demonstrate that regulatory relationships are a competitive advantage in India’s deep tech ecosystem, not just a compliance requirement.