Startup news and updates: Daily roundup (January 8, 2025)
YourStory presents the daily news roundup from the Indian startup ecosystem and beyond. Here's the roundup for Wednesday, January 8, 2025.
From women in the industry blending culture and passion in advertising and filmmaking to a startup accepting receiving a record-breaking Rs 8 crore offer on Shark Tank India, YourStory brings today’s headlines that highlight significant developments across industries.
Here’s a roundup of key stories:
Featured stories
How Amita Madhvani became leader in advertising and production
Amita Madhvani’s upbringing in a close-knit chawl in Mahim instilled in her a love for community and storytelling. Inspired by her parents’ values of service and adaptability, she entered the male-dominated advertising industry of the 1980s, thriving through hard work and curiosity.
Her time at advertising giants like Ogilvy and Leo Burnett broadened her perspective, allowing her to see the industry from the agency’s vantage point.
As she grew in the industry and became the co-partner and producer at Equinox Films and the co-founder of Ram Madhvani Films, Madhvani played a crucial role in steering these companies to prominence.
SoftBank-backed Juspay eyes 2025's first unicorn crown
Fintech firm Juspay is in talks to raise new funding that could make it 2025's first unicorn, as the Softbank-backed startup seeks to raise capital at a valuation exceeding $1 billion, three people with direct knowledge of the matter told YourStory.
The company, previously valued at around $400 million (about Rs 3,500 crore), has initiated conversations with private equity firms Warburg Pincus, Kedaara Capital, and venture capital firm Norwest Venture Partners, said the sources who did not wish to be identified as the discussions are private.
Latest news
SEBI issues warning to Ola Electric
The Securities and Exchange Board of India (SEBI) has issued a warning notice to electric vehicle maker Ola Electric for violating disclosure norms.
The warning states that the company’s Chairman and Managing Director, Bhavish Aggarwal, shared information about the company's store expansion plans on social media before notifying the stock exchanges.
On December 2, Aggarwal announced that Ola Electric intended to open 3,200 stores by December 20 as it aimed to increase its store count to 4,000 due to a decline in its market share. However, on December 19, the company postponed the opening of these stores to December 25.
Swiggy launches Snacc
A new player in the quick food delivery space, Swiggy's latest app Snacc seems to have features of its private label Swiggy Cafe and Swiggy Bolt, its 10-minute food delivery service.
Snacc, which is operational in pin codes near the company's headquarters in Bengaluru and operational between 7 AM to 1 AM, features breakfast, meals, beverages and snacks predominantly unbranded in nature, except select products from Blue Tokai.
Microsoft fuels $3B AI bet in India
Doubling down on India’s AI ambitions, MicrosoftChairman and CEO Satya Nadella on Wednesday announced a series of cloud and AI-led strategic partnerships with the Government of India and key industry leaders.
The move comes just a day after the tech giant pledged to pump $3 billion to fuel AI and cloud infrastructure in the country over the next two years, including the establishment of new data centers.
Microsoft will also support the IndiaAI Mission Datasets platform by contributing to data collection, generating synthetic data, and collaborating with partners such as AI4Bharat.
Funding news
RAS Luxury secures $5M from Unilever Ventures to fuel omnichannel expansion
Farm-to-face beauty and personal care brand RAS Luxury Skincare raised $5 million in a Series A funding round led by Unilever Ventures.
The round also saw participation from Amazon SMBhav Venture Fund, existing investors like Sixth Sense Ventures and angel investors, including the family of Keki Mistry.
RAS plans to use the funds for various growth initiatives including expanding its retail footprint and plans to grow its exclusive brand outlets from the current two to 50. The company aims for offline channels to generate 25% of its revenue within the next four years.
hBits raises Rs 40 Cr in Series A funding
hBits, a premier platform for investing in commercial real estate, has raised Rs 40 crore in its Series A funding round from Capricon Realty Private Limited, an entity of Thackersey Group.
The company plans to use the raised capital to enhance hBits’ AI-driven technology platform, expand its geographical presence, and bring curated, high-value investment opportunities to a wider audience.
The Mumbai-based company was founded by Shiv Parekh in 2018, and provides investors with investment opportunities in high-yield commercial properties starting at Rs 10 lakh. Offering rental yields of up to 10% and projected Internal Rates of Return of up to 18%, hBits offers attractive options for both novice and experienced investors.
BrainSight AI bags $5M in pre-Series A
Deeptech neuroscience startup BrainSight AI raised a pre-Series A funding round of $5 million led by IAN Alpha Fund. The round also saw participation from IvyCap Ventures Advisors Private Limited and Silver Needle, besides existing investors.
The company plans to use the raised capital to expand its presence in Tier I and II cities in India, pursue FDA certification for the US and allied market access, and explore opportunities in Africa and Southeast Asia.
Additionally, it will also use the funds to support R&D for a caregiver-focused app to assist families of patients with brain disorders.
Culture Circle accepts Rs 3 Cr deal on Shark Tank India
Devansh Jain Nawal, and Ackshay Jain, Co-Founders, Culture Circle
Luxury app Culture Circle, which offers authenticated collection of sneakers, streetwear, and luxury fashion, accepted a strategic deal of Rs 3 crore for 3% equity from Kunal Bahl and Ritesh Agarwal, declining a deal of over Rs 8 crore on Shark Tank India.
“Culture Circle was built to solve one of the biggest challenges in luxury fashion—trust...Our goal is to make authentic luxury accessible to all, and this milestone on Shark Tank validates our mission and hard work,” said Devansh Jain Nawal, Founder & CEO, Culture Circle.
The company said that it was praised for its proprietary AI-powered Culture Circle authentication system, SourceX.
Other news
LenDenClub launches daily earning loans for P2P lenders
Peer-to-peer (P2P) lending platform LenDenClub launched a new daily earning loan that allows lenders to earn daily interest along with principal repayments, credited directly to their bank accounts.
With the launch, the platform allows lenders/investors a choice of loans starting from a 9-month tenure, with interest income beginning the next day, the company said.
It serves as an alternative for individuals seeking regular income through the LenDenClub platform. Lenders can lend as little as Rs 250 to a borrower with a choice out of hundreds of borrowers on the platform, it added.
"By offering daily income from loans, we provide lenders with immediate liquidity and flexibility. This initiative aligns with our goal of simplifying financial opportunities through the usage of technology. Our system processed 23 crore transactions between lenders and borrowers on the platform. Our technology is so robust that we are able to provide such complex solutions like processing daily EMIs from borrowers to lenders," said Bhavin Patel, CEO, LenDenClub
Inflexor Ventures elevates Harsha Mundhada, Murali Krishna Gunturu to partners
Sector-agnostic venture capital fund Inflexor Ventures, which specialises in seed to Series B investments, announced the elevation of Harsha Mundhada and Murali Krishna Gunturu as partners in the fund.
"Harsha and Murali have been integral to our success, demonstrating both the vision and perseverance that define great investors. Their elevation to Partners underscores our belief in fostering leadership from within and ensuring that our founders continue to receive top-notch support at every stage of their journey," said Jatin Desai, Managing Partner at Inflexor.
Harsha Mundhada has been with Inflexor since 2016, and prior to this stint, she worked with Deloitte, Ernst and Young, and PriceWaterhouseCooper in their transaction advisory department. Meanwhile, Murali Krishna Gunturu was a founding member of Inflexor. He previously worked with Ernst and Young and also played the role of a virtual CFO for a few SMEs.
Inflexor recently raised its first Opportunities Fund and is gearing up to raise its third blind pool corpus of Rs 1,250 crore in FY26.
GrowthJockey launches Intellsys
GrowthJockey, a player in venture architecture and technological innovation, launched Intellsys, an AI-powered growth marketing intelligence platform designed to empower businesses with real-time, data-driven insights.
At the core of Intellsys is Copilot AI, which leverages community intelligence to provide actionable insights, bridging the gap between data analysts and business leaders.
Intellsys simplifies this complexity posed by vase data by consolidating information from over 200 data sources and analysing more than 15 million data points per second. It tracks over 1,000 metrics in real time.
Intellsys represents a new era in marketing intelligence, combining cutting-edge AI with an intuitive user experience. We are not just offering a tool; we’re providing a solution that empowers businesses to make smarter decisions, faster. Intellsys enables leaders to focus on strategic growth while leaving the complexity of data management to AI,” said Ashutosh Kumar, CEO of GrowthJockey.
GPS Renewables onboards Homai Ardeshir Daruwalla
Biogas engineering company GPS Renewables appointed Homai Ardeshir Daruwalla, former Chairman and Managing Director of Central Bank of India, as an independent director to its board.
She currently serves as an independent director at Vizag Seaport Pvt Ltd, Reliance Financial Ltd, Reliance Securities Ltd, and has previously held board positions with Triveni Engineering & Industries, NTPC, IIFL AMC, and others.
"As GPS Renewables continues to create a larger impact in the bioenergy sector in India, we will undoubtedly benefit from the expertise of those with rich experience in growing businesses across different industries. Homai is one such name. Her extensive experience and leadership acumen will provide invaluable insights to help us amplify our efforts and drive greater impact," said Mainak Chakraborty, Co-founder and CEO, GPS Renewables.
India’s first 1M1B Green Skills Academy Centre inaugurated
Chief Minister of Andhra Pradesh, N Chandrababu Naidu, inaugurated 1M1B Green Skills Academy’s Career Readiness Centre at Kuppam, Andhra Pradesh on Tuesday.
The Kuppam Area Development Authority (KADA) partnered with the United Nations-accredited 1M1B Foundation (One Million for One Billion) to set up 1M1B Green Skills Academy’s Career Readiness Centre in Kuppam.
The inaugural centre aims to provide youth and young professionals with essential green skills and career-readiness training. This initiative is designed to support sustainable employment opportunities within Andhra Pradesh and India’s rapidly expanding green economy.
AIC T-Hub Foundation launches BIML programme
T-Hub launched the Business Incubation Management & Leadership programme under the AIC T-Hub Foundation to reshape India’s incubation landscape.
This is set to equip managers with skills to build and scale world-class incubation centres through hands-on training and strategic knowledge. The company said that the participants will gain expertise in managing startup processes, stakeholder relationships, and navigating policies, financial strategies, and legal frameworks, earning certification upon completion.
The program leverages T-Hub’s extensive network of mentors, corporates, and policymakers to foster innovation and entrepreneurship nationwide.
"Our mission at AIC T-Hub is to cultivate a strong and dynamic incubation ecosystem in India. The BIML program is a significant step in empowering managers with the critical skills required to drive innovation and entrepreneurship. We believe this initiative will play a pivotal role in advancing India’s startup ecosystem and supporting the next wave of entrepreneurial growth," said Rajesh Adla, CEO of AIC T-Hub Foundation.
PhysicsWallah expands offline network
Edtech platform PhysicsWallah (PW) currently operates over 150 Vidyapeeth and Pathshala centers across 20 states in India, with around 10 offering the Vidyapeeth Residential Programme (VPRP).
In the 2025-26 academic year, PW expanded its offline presence by launching centres in new cities, including Dibrugarh, Chennai, and Udaipur. Notably, the Chennai centre marks PW’s first offline venture in Tamil Nadu, the company said.
“As educators, it breaks our hearts to see students take drastic measures when they lose hope. We want to be their hope. Today I appeal to you all - to join us in our effort to avert tragedies. Use our 24x7 country-wide free helpline - Prerna and seek support whenever you feel stressed or overwhelmed,” said Alakh Pandey, Founder and CEO of PhysicsWallah at an annual event in Kota - Disha 2025.
Additionally, he announced a 30% off for the coming academic year 2025-26 across all offline batches till January 20, 2025.
Namma Yatri expands operations to Mysuru
Bengaluru-based mobility app Namma Yatri officially launched in Mysuru, expanding its presence in Karnataka.
Operating in Bengaluru, Tumkur, and Kalaburagi, Namma Yatri continues to redefine urban mobility with the support of the Open Network for Digital Commerce (ONDC) and a driver-first approach, the company said in a statement.
"As Karnataka progresses, reliable, affordable, and accessible transportation is essential. Namma Yatri’s entry into Mysuru not only empowers local drivers but also enhances daily commuting experiences for citizens. It’s a step forward in creating meaningful livelihoods and redefining mobility in the region," said Deputy Commissioner of Mysuru, Shri G. Lakshmikanth Reddy, at the launch.
The company has onboarded more than 8,000 drivers in Mysuru, and completed 3.16 lakh trips so far, the company said.
FedEx International Connect Plus expands global reach
Express transportation company Federal Express Corporation (FedEx) expanded the reach of FedEx International Connect Plus in India. It now connects customers to a wide range of destinations across Asia, the Americas, and Europe, the company said.
"This cost-effective, day-definite international shipping solution is designed to deliver cross-border ecommerce shipments within 3-4 business days," the release read.
Ecommerce is accelerating cross-border trade, and businesses need smart, cost-effective solutions that expand reach without compromising speed and flexibility... Our focus is on creating efficient, agile supply chain solutions for India’s evolving ecommerce landscape. By combining our advanced physical and digital networks, we aim to better serve our customers—especially the small- and mid-sized businesses that drive growth in today’s competitive economy,” said Nitin Navneet Tatiwala, VP of Marketing and Air Network, MEISA, FedEx.
Orient Technologies Ltd appoints Shrihari Bhat as CEO
IT solutions and services provider Orient Technologies Ltd appointed Shrihari Bhat as its CEO effective January 1, 2025.
Bhat brings over 25 years of leadership experience and is poised to drive the company's next phase of growth, innovation, and strategic development, the company said.
"Under Shrihari’s leadership, Orient Technologies will focus on expanding its service offerings, increasing customer value, and reinforcing its commitment to sustainability and social responsibility," the company added.
"His in-depth knowledge and industry expertise, combined with his visionary approach, will be instrumental in guiding the company as we continue to expand our presence and deliver innovative solutions to our clients," said Ajay Sawant, Chairman and Managing Director, Orient Technologies Ltd.
(This article will be updated with the latest news throughout the day.)
Edited by Kanishk Singh
