Zetwerk opens its ₹5,012 crore IPO on 15 October, making it one of the biggest startup listings of 2026. That headline capped a busy week for tech startups in India, which also saw a $75 million cheque for chip engineering firm Tessolve and a $10 million bet on a homegrown photonic quantum computer. Here are the four stories that matter, and what they mean for founders, job seekers and investors.
Zetwerk IPO: ₹5,012 Crore Issue Opens 15 October
Bengaluru-based Zetwerk has set a price band of ₹143 to ₹151 per share. The issue combines a fresh issue of ₹2,830 crore with an offer for sale of 14.45 crore shares. At the top of the band, the company is valued at about ₹25,583 crore.
- Anchor bidding: 14 October
- Subscription window: 15 to 19 October
- Listing: 23 October on BSE and NSE
- Selling investors include: Peak XV, Accel, Lightspeed and Kae Capital
Founded in 2018, Zetwerk makes components and systems for renewable energy, electronics, aerospace, defence and AI infrastructure across 26 facilities in India, the US, Germany and Spain. Fresh-issue money will go towards repaying debt, acquisitions and general corporate purposes.
The numbers are mixed. Operating revenue rose about 40% to ₹15,913 crore in FY26, but the net loss widened to ₹1,606 crore, largely due to exceptional items and a civil infrastructure business it is exiting. Anyone considering applying should read the red herring prospectus rather than rely on the hype.
Source: Free Press Journal, Inc42
Tessolve Raises $75 Million for Chip Acquisitions
Tessolve Semiconductor, a Hero Electronix company, has raised $75 million from US-based Vector Line Capital. It is the investor’s first deal in India, and it comes a little over a year after Tessolve raised $150 million from TPG.
Founded in 2004, Tessolve handles chip design, validation, testing and embedded systems for clients that include 18 of the world’s top 20 semiconductor companies. It has more than 3,500 engineers and says it is in advanced talks to close several acquisitions over the next couple of quarters. For engineers, it is another sign that India’s semiconductor services jobs are growing beyond fab announcements.
Source: Tessolve press release, Entrepreneur India
Quanfluence Bags $10 Million for a Photonic Quantum Computer
Pune-based Quanfluence raised $10 million in a round led by Chiratae Ventures, with Pi Ventures and Zerodha’s Rainmatter also taking part. Incubated at IIT Madras in 2021, the startup builds quantum computers that process information using particles of light.
The money will fund a full-stack machine that combines its own photonic chips, control electronics and software. Quanfluence is targeting early processors in 2027 and larger, scalable systems by 2029. Its founders include engineers who previously built Silicon and Beyond, which Synopsys acquired.
Source: YourStory
Nat Habit Raises ₹142 Crore Series C
Ayurvedic personal care brand Nat Habit raised ₹142 crore in a Series C round led by Trident Growth Partners. Existing backers Bertelsmann India Investments, Mirabilis Investment Trust and Sharrp Ventures joined, along with new investors Physis Capital and Hero Family Office.
Founded in 2019 by Swagatika Das and Gaurav Agarwal, the brand reports annualised gross revenue of ₹330 crore. It plans to widen its product range, strengthen manufacturing and push deeper into quick commerce, offline retail and smaller cities.
Source: YourStory
What This Week Means for Tech Startups in India
Overall deal value was thin. Entrackr counted $113.35 million raised by 28 startups between 5 and 10 October, down more than 72% from the previous week. But the quality of the bets stands out:
- Founders: Deeptech and hardware are drawing serious cheques, from quantum to chip services.
- Job seekers: Semiconductor engineering and manufacturing roles are expanding fast.
- Investors: The Zetwerk IPO will test public market appetite for loss-making but fast-growing tech manufacturers.
The takeaway: tech startups in India are increasingly building physical products, from chips to factories, and next week’s Zetwerk subscription numbers will show how much the market is willing to pay for that shift.
Source: Entrackr
Note: This article is for information only and is not investment advice. Read the IPO prospectus and consult a SEBI-registered adviser before investing.
