New Unicorn Unlocked, Policybazaar CEO Quits & More

India Gets Its 128th Unicorn

KreditBee has become the second Indian unicorn of 2026. Despite ongoing geopolitical tensions, the lending tech startup managed to raise a mega round at a billion dollar valuation. So, how did KreditBee defy the mega deal drought to secure its unicorn crown?

The Unicorn Milestone: KreditBee entered the unicorn club after it raised $280 Mn in its Series E round led by Motilal Oswal Alternates, Hornbill Capital and Dragon Funds at a post-money valuation of $1.5 Bn. With this, it has become the 128th Indian startup to join the unicorn club. 

The timing matters as the company is gearing up to list on the bourses and plans to utilise the fresh funds to diversify its lending stack ahead of the IPO. 

Cracking The Code: Despite the inclement market weather, what worked for the company was the investor bullishness on the high-margin lending tech space. On top of this, KreditBee’s diversified portfolio, over 20 Cr registered users and 6 Cr loans disbursed so far added cherry on the top. 

The Mega Deal Drought: KreditBee’s fundraise arrives just after a quarter (Q1 2026) that saw a complete absence of $100 Mn+ mega deals. This is the first time since 2022 when a quarter has seen no mega deal. 

While investor caution dominated the quarter due to the conflict in West Asia, 74% of Indian investors, as per an Inc42 survey, are now prioritising capital from domestic LPs. Insiders suggest that up to $50 Mn rounds can now be fuelled entirely by local capital. However, larger rounds like KreditBee’s still require a strategic mix of domestic and global participation.

As the lending tech giant prepares for its next chapter on the public bourses, here is all about KreditBee entering the unicorn club…

From The Editor’s Desk

Policybazaar CEO Steps Down

• Tarun Mathur has stepped down as the CEO and principal officer of PB Fintech’s insurtech arm, citing personal commitments.
• This follows the company receiving approval from the Insurance Regulatory and Development Authority of India to appoint Sajja Praveen Chowdary as the new principal officer and CEO. 
• The exit lands at a tense time for PB Fintech. Its stock has been under pressure ever since it announced plans (cancelled later) to raise funds via a QIP. Its lending arm Paisabazaar also recently received a Benami Act order linked to vendor transactions.

RoshAi Nets ₹22 Cr

• The Kochi-based deeptech startup has raised nearly $2.4 Mn in a round led by IAN Group to strengthen its autonomy stack, support initial pilots, ramp up hiring and build its presence in the US and other international markets.
• Founded in 2021, RoshAi uses retrofit hardware and AI-powered software to build and operate driver-less commercial vehicles in confined environments such as mining sites and airports. Including the current round, it has raised $3.4 Mn so far.
• RoshAi is eyeing a pie of India’s nascent autonomous mobility market, which is projected to become a $1.3 Bn opportunity by 2033 on the back of industrial and logistics use cases.

Nexus Trims Delhivery Stake

• The VC firm yesterday offloaded 1.2 Cr shares of the listed logistics major via multiple block deals for ₹530.4 Cr. It sold the shares at ₹442 apiece to rake in the sum. 
• The shares that flooded the market were lapped up by Alphamine, BNP Paribas, Edelweiss, ICICI Prudential Life Insurance, Nippon India and SBI Mutual Fund.
• The VC major trimmed its stake to likely book profits amid an upward trend in Delhivery’s shares. The stock has surged more than 85% in the past year on the back of its quick commerce foray and improving profits. 

Exotel Acquihires Dubverse

• The customer engagement platform has acquihired the leadership team of the voice AI platform for an undisclosed amount to strengthen its AI-led offerings.
• Dubverse cofounders Anuja Dhawan and Varshul Gupta will now lead Exotel’s conversation quality analytics solution team and AI segment, respectively. 
• Founded in 2011, Exotel provides AI-based voice agents to enterprises for their customer interactions. It has raised over $87 Mn to date. The startup swung to the black in FY25 with a net profit of ₹28.5 Cr, while operating revenue rose 75% YoY to ₹458 Cr.

Atlas Bags $6 Mn

• The AI startup has raised ₹55.4 Cr in its seed round from Accel and Stellaris Venture Partners to grow its network of partner accounting firms in North America, and accelerate GTM efforts.
• Founded in 2025, Atlas helps accounting firms deploy AI to automate routine workflows and improve operational efficiency. Its offerings streamline repetitive processes like audit preparation, bookkeeping support, financial analysis and client communications.
• With an eye on the highly-regulated BFSI space, Atlas is eyeing a piece of the broader Indian GenAI market, which is projected to become a $17 Bn opportunity by 2030.

Inc42 Markets

Inc42 Startup Spotlight

Can betterhood Help Indians Age Gracefully?

Ageing is often seen as something that must come with pain and reduced mobility, especially in Indian households. Bengaluru-based betterhood wants to challenge this notion with its preventive pain care solutions. 

Built For Everyday Use: Founded in 2024, betterhood is building a full-stack preventive pain care brand for the modern lifestyle. It sells a range of offerings such as cervical pillows, lumbar supports, car cushions, back braces and workplace accessories to correct structural imbalances before they become chronic issues.

Full Stack Approach: The brand also offers orthotic supports such as knee sleeves, ankle braces and joint compression products for recovery and performance. Its recovery line up also includes sprays, roll-ons, magnesium recovery body lotion and pain patches. betterhood has also built an online posture assessment platform, called ‘Slouch Catcher’, to woo users.

Scaling Across India: The Kairon Capital-backed startup claims to have so far served more than 60,000 customers across metros and tier 1 cities. While it is already live on quick commerce platforms in Bengaluru, it has set its eyes on expanding the service to other major cities like Mumbai, Delhi and Hyderabad. On the back of this, the company aims to scale to an ARR of ₹100 Cr by 2028.

With the Indian orthopaedic devices and musculoskeletal care market projected to cross $4.5 Bn by 2033, can betterhood turn pain care into a wellness habit?

Infographic Of The Day

India’s AI moment is bigger than it looks. Over $200 Bn is being channelled into AI data centres, while the semiconductor ecosystem is gaining strong momentum. Here is all about it…

The post New Unicorn Unlocked, Policybazaar CEO Quits & More appeared first on Inc42 Media.