Startup news and updates: Daily roundup (February 6, 2025)

From Swiggy's shares taking a beating in morning markets to startups simplifying contracts, YourStory brings you today’s headlines that highlight significant developments across industries.

Featured News

How DOQFY simplfies contracts for businesses

While large corporations can afford Contract Lifecycle Management (CLM) solutions, mid-sized businesses struggle with high costs, legal complexities, and India’s varying stamp duty regulations. In such a scenario, DOQFY offers a cost-effective, automated, and compliant contract execution platform.

The Bengaluru-based B2B SaaS platform that streamlines contract creation, execution, and compliance. Designed to reduce manual inefficiencies, the platform automates key aspects of contract management, including e-stamping, digital signing, and compliance tracking.

Read more about the company's platform here

Latest News

Zomato umbrella company to now be called Eternal

Zomato has changed Ltd has changed its company name to Eternal Ltd, CEO & Co- Founder Deepinder Goyal announced in a statement.

Eternal is expected to comprise the company's food delivery business (Zomato), quick commerce segment (Blinkit), stepping out vertical (District), and B2B arm, Hyperpure.

Swiggy shares go under IPO price after it reports Rs 800 crore loss

Swiggy's shares fell 4% to Rs 400 per share on the Bombay Stock Exchange (BSE) after the company reported a widening loss of 39% year-on-year (YoY) in the third quarter. Prices hit a low of Rs 385 per share, before recovering and stabilising at Rs 400.

Swiggy’s Q3 FY25 results were mixed; while it showed strong growth in food delivery, it struggled in the quick commerce (Instamart) segment.

On a consolidated level, the foodtech company's losses widened to Rs 799 crore from Rs 574 crore in the previous year. Swiggy clocked a 30% YoY growth in operating revenue to Rs 3,993 crore in the quarter ended December 2024, up from Rs 3,048 crore earned in the corresponding quarter last year, according to an exchange filing.

Funding News

Adar Poonawalla acquires 20% stake in auction house, AstaGuru

Premium auction house, AstaGuru announced it has sold 20% stake for strategic investment from the family office of Adar Poonawalla.

This investment will drive AstaGuru's expansion in local and international markets across various verticals and categories. It aims to enhance the digital experience through a research-driven approach, leveraging AI to improve user engagement.

Also Read

Adar Poonawalla invests Rs 1,000 Cr in Dharma Productions for a 50% stake

Fitspire raises $1 million in pre-series A from McDonalds India promoter

Nutrition and protein brand Fitspire has raised $1 million at a Rs 100 Cr+ valuation in a pre-series A round. The funding was led by McDonalds India (North and East) Promoter, Ananta Agarwal, MM Agrawal Group (MMG) along with angel investors.

The Delhi-based startup will use the capital infusion to strengthen its ecosystem, expand its market presence, build its brand, and develop new revenue streams.

In January, it raised funds from investors including the Jaipuria family office, LC Nueva Capital, Redcliffe Group’s Dheeraj Jain, Fluid Ventures’ Amit Singhal, Next 5 Ventures’ Ivor Braganza, and singer Sukhbir Singh.

PlaySuper raises $500,000 in seed fundraise

Gaming commerce company, PlaySuper has raised $500,000 in seed fundraise led by IAN Angel Fund and 100X.VC

The round also witnessed participation from angel investors including Uday Sodhi, KRS Jamwal, Pratham Mittal, Rajit Bhattacharya, and Ankit Das.

It plans to use the funds to fast-track its product development, expand market reach and strengthen hiring especially to grow its B2B team and product heads. It plans to expand into SEA within six months, followed by MENA and LATAM.

With key gaming studio partnerships in place, the company aims to make in-game commerce a mainstream revenue model. Over the next year, it will launch its in-game store, expand into new markets, and strengthen developer collaborations.

Pediatric consultation platform Babynama bags $700,000 seed round

Digital pediatric care platform Babynama announced funding of $700,000 in its seed fundraise led by Good Capital.

The round also witnessed participation from Amplify and angel investors, including Abhishek Gupta (Founder, Fashinza), Ankit Gupta (Founder, Bicycle Health), Dhruv Dhanraj Bahl (Ex-COO, BharatPe) among others.

Founded in June 2022, by Sumitra Meena and Ashish Meena, the company offers personalized pediatric care through its chat-based subscription model. It plans to use the funds for building its tech stack, scale its team of pediatricians and brand building efforts.

Basil Alliance raises seed funding from Inflection Point Ventures

Alcobev company, Basil Alliance raised an undisclosed seed round from Inflection Point Ventures to strengthen its presence in the Indian market.

The funding is expected to drive the company's next phase of growth and expansion. Founded by Vibhuti Dixit, the company counts wine brands like Glenside D'Vine and Jacobson, along with a ready-to-drink product, Sky Shots.

Other News

KRAFTON India and KukuFM together launch audiobook of BGMI: Lone Survivor

KRAFTON India and KukuFM have launched BGMI: Lone Survivor, the an audiobook adaptation of a video game IP in India.

The collaboration brings BATTLEGROUNDS MOBILE INDIA (BGMI) to a new audience. It merges dynamic storytelling of the game with audio, to offer an immersive new experience.

Dating app Aisle appoints Chandni Gaglani as head of Aisle Network

Info Edge-backed Aisle Network has announced the appointment of Chandni Gaglani as its Head to lead product development, marketing, operations and market expansion.

House of Aisle, which houses apps like Aisle, Arike, Neetho, Anbe, and Neene. Its growth on key apps has managed to improve its cash burn by about 40% in the last year.

Careernet expands to US with appointment in its executive search arm

Recruiting solutions provider Careernet announced its expansion in US market, along with an executive appointment in its executive search segment to lead its global foray.

It has appointed Sunil Chaudhary as Partner, Longhouse to drive growth for group brands like Careernet, HirePro and Longhouse.

While, Careernet and Longhouse has worked closely with Indian startups, it plans to continue provide talent solutions to these platforms as these startups mature and scale to US.

Virtusa announces Nitesh Banga as new CEO

Digital business solution provider Virtusa has announced the appointment of Nitesh Banga as President and CEO, effective February 2025.

Banga will succeed Santosh Thomas, who is stepping down to pursue outside opportunities. Thomas is expected to stay on as a strategic advisor through the transition.

(The copy will be updated with the latest news throughout the day)