Startup news and updates: Daily roundup (April 1, 2025)

From ChatGPT-maker OpenAI raising $40 billion at a $300 billion valuation to Bajaj Auto toppling Ola Electric as market leader of electric two-wheelers in March, YourStory brings you today’s top stories.

Here’s a roundup of key stories:

Featured news

Supply crunch stalls growth of private intercity electric bus operators

India has an ambitious plan to electrify its public transportation. By 2030, India aims to deploy 50,000 electric buses and ensure that 40% of buses in the country are electric. The idea is to modernise intercity and interstate travel, curb pollution, and lower operation costs. The regulatory push for electric buses, including programmes such as the PM e-Bus Sewa Scheme, has led to a large influx of orders for e-buses, as states look to transition to green mobility.  

However, with manufacturers focusing on government orders, private bus operators are losing out on this green drive. India currently has a few OEMs in the space, namely Ashok Leyland’s Switch Mobility, Greencell Mobility, and JBM Auto, among others.  

The glitzy noise-cancelling and tech-enabled EV buses are in demand now more than ever in the private intercity bus segment. Today, there are three main players in this segment: NueGo, FreshBus and a relatively new entrant, LeafyBus. Read more. 

Globally, businesses are recognising India’s Tier II cities as prime hubs for deploying cutting-edge AI tech: Xebia CEO

Global IT consultancy company Xebia, founded in 2001 in the Netherlands, is taking a differentiated approach to nurturing and growing tech talent in India by focusing on Tier II cities. The IT company, which has a presence in Europe, North America, and Asia, believes Tier II cities in India will provide the much-needed AI solutions. According to Xebia, Jaipur and Bhopal have turned into AI-first transformation hubs for the company.

In an interview with Enterprise Story, Anand Sahay, CEO of Xebia, said, "More than 45% of GCC employees in India are working from outside Tier I cities, and Xebia is strategically addressing this opportunity by upskilling young engineers and hiring experienced professionals in AI, automation, and cloud technologies.” Read more. 

Latest news

Bajaj Auto topples Ola Electric as market leader of electric two-wheelers in March

Bajaj Auto has regained market lead in the electric two-wheeler (E2W) segment with a sale of 34,868 units in March. Bhavish Aggarwal-led Ola Electric has fallen to the third place, after TVS Motor, amid regulatory inquiries over discrepancies in sales data and non-compliance with trade requirement certificates. 

Bajaj Auto, which makes the Chetak scooter, now has a 26.8% market share in the E2W segment, followed by TVS Motor, which sold 30,454 units during the period, gaining a market share of 23.4%. Ola Electric sold 23,430 units in March, and its market share dropped to 18%. Read more. 

Funding news

OpenAI raises $40B at $300B valuation

ChatGPT-maker OpenAI has raised $40 billion in a new funding round, pushing its post-money valuation to $300 billion. According to a Bloomberg report, the round is led by SoftBank Group, with Masayoshi Son’s firm contributing $7.5 billion. An additional $2.5 billion will be invested from a syndicate of investors.  

The funding also saw participation from Microsoft Corporation, Coatue Management, Altimeter Capital Management, and Thrive Capital. Read more. 

Evenflow raises fresh funds from Venture Catalysts, Sunder Ramachandran

Ecommerce roll-up platform Evenflow secured new funding from Venture Catalysts, Sunder Ramachandran, and other angel investors, as part of its ongoing $5 million Series A round. This follows a bridge round in October last year, bringing its total funding to nearly $14 million.

The company will use the fresh capital to drive growth and improve profitability across its multi-brand portfolio, which includes Xtrim, Yogarise, Rusabl, BabyPro, Trendy Homes, Cinagro, and Frenchware.

Currently operating across India, the US, and the MENA region, Evenflow has reported a 350% growth driven by distribution across marketplaces and quick commerce platforms such as Amazon, Flipkart, CRED, Myntra, Blinkit, Instamart, Zepto, Walmart, and others.

Entvin AI bags Rs 5 Cr from Y Combinator

Entvin AI, which offers AI solutions for pharmaceutical and life sciences companies, launched out of beta and announced $500,000 funding from Y Combinator. The fresh capital infusion will help the firm to expand its AI capabilities and fuel global customer acquisition among mid-to-large pharma players.

Founded by Sanskar Jain, Hemant Phalak, and Rishabh Arya, the company has built an AI platform designed to simplify the complex and time-intensive FDA drug approval process. 

"We identified a significant opportunity to transform how life sciences companies navigate regulatory requirements. Regulatory professionals spend countless hours on documentation, compliance checks, and staying updated with constantly evolving FDA guidelines. Our AI agents streamline these workflows, allowing teams to focus on strategic priorities rather than administrative burdens,” said Sanskar Jain, Co-founder and CEO of Entvin. 

Tvaster Genkalp bags $1.25M in pre-Series A from Ideaspring Capital

Molecular diagnostics startup Tvaster Genkalp raised $1.25 million in a pre-Series A funding round led by Ideaspring Capital, existing investor Invigo Softwares, and liver transplant surgeon Mohamed Rela. It will use the funds to fuel expansion and commercialisation of Episcreen Liver, a methylation-based liquid biopsy test for early liver cancer detection.

Founded in 2021 by Dr. Srikar Raman and K. Sreedurgalakshmi, Tvaster is advancing molecular diagnostics and precision oncology through epigenetic screening technologies. The company is developing proprietary, high-accuracy genetic solutions for non-invasive cancer detection. 

Hasiru Dala Innovations bags Rs 6 Cr in pre-Series A round

Hasiru Dala Innovations (HDI) raised Rs 6 crore in a pre-Series A round led by Rainmatter Fintech Investments, with Next Bharat Ventures IFSC—a Suzuki-backed AIF—making its first direct portfolio investment through this round.

The funding will accelerate HDI’s growth across key areas—scaling its plastics circularity business to enhance recycling capacity and efficiency, expanding its biogas plant in partnership with Carbon Masters to advance waste-to-energy solutions, and strengthening its leadership team. 

HDI also plans to extend operations beyond Bengaluru, furthering its impact in the circular economy and sustainable waste management initiatives.

“Hasiru Dala Innovations has built a unique, inclusive model that not only tackles waste management but also empowers waste pickers as key stakeholders in the circular economy. Their work in plastics circularity and bio-energy solutions is creating tangible environmental and social impact. At Rainmatter, we believe in supporting businesses that drive systemic change for a more sustainable future, and we are excited to be part of HDI’s next phase of growth as they scale their operations and expand beyond Bangalore,” said Nithin Kamat, CEO, Zerodha and Rainmatter. 

Nikhil Kamath’s Gruhas leads Rs 12.5 Cr investment in LehLah

LehLah, a creator-led content commerce startup, raised Rs 12.5 crore in its seed funding round led by Gruhas, a company co-founded by Nikhil Kamath and Abhijeet Pai, for product development, increasing brand visibility, and expanding the team.

LehLah empowers creators to monetise their influence by sharing affiliate links for curated product recommendations. The platform connects creators with brand partners, converting content into a scalable revenue stream.

The company has collaborated with ecommerce platforms, including Myntra, Meesho, Flipkart, and Nykaa, which have driven a 46% month-on-month growth in GMV and led the creation of over 700,000 content pieces through its creator network.

Expertia AI secures pre-Series A funding

Expertia AI, an AI-powered recruitment platform offering end-to-end hiring automation, raised an undisclosed pre-Series A funding round led by existing investors Chiratae Ventures and Endiya Partners, while Rockstud Capital and Flipkart joined as new backers.

The company will use the capital to build a team of AI researchers, software engineers, and growth specialists, as well as support efforts to scale in the Indian market and expand operations in the US.

“At Expertia, we’re building an agentic AI Recruiter to eliminate time, cost, and bias in enterprise hiring—making recruitment real-time, fair, and opportunity-rich for professionals worldwide. Our mission is to revolutionise the next decade of hiring by leveraging cutting-edge AI and becoming the global destination for talent and recruitment,” said Akshay Gugnani, Founder of Expertia AI.

Other news

Former Federal Bank CEO Shyam Srinivasan joins TVS Capital Funds as senior advisor

TVS Capital Funds (TCF) has named Shyam Srinivasan as Senior Advisor and Operating Partner. With over 30 years of experience in banking and financial services, Srinivasan brings expertise in institutional growth and financial governance.

Prior to this, he served as the managing director and CEO of Federal Bank for 14 years, where he spearheaded the bank’s national expansion, advanced its digital banking capabilities, and strengthened asset quality. 

“With the launch of our fourth fund, TVS Capital is sharpening its focus on both control investing and partnering in transformational growth. Shyam’s depth of experience in financial services, strategic leadership, and keen industry insight will be invaluable in this journey,” said Gopal Srinivasan, Chairman and Managing Director of TVS Capital Funds. 

As Senior Advisor and Operating Partner, Srinivasan will provide strategic insights and operational guidance to TCF’s portfolio companies, particularly in financial services and technology-driven businesses.

Plaksha University launches Binny Bansal-backed institute for emerging tech research

Plaksha University launched the Institute for Inventing the Future (IIF), a new research institute focused on developing solutions to global challenges using emerging technologies such as AI, blockchain, and robotics.

Flipkart Co-founder Binny Bansal has committed an initial funding of Rs 70 crore to support the new institute in its efforts to translate research into real-world applications.

The institute will also build on Plaksha’s existing partnership with the University of California, Berkeley. As part of this collaboration, IIF will engage in joint research initiatives with the Berkeley Artificial Intelligence Research (BAIR) Lab, as well as facilitate faculty and student exchanges and adopt best practices in AI research and education methodologies.

(This article will be updated with the latest news throughout the day.)