Startup news and updates: Daily roundup (February 4, 2025)

From OYO expanding its premium hotel portfolio in the UK to Good Glamm Group Co-founder Priyanka Gill moving away from Kalaari Capital to launch a lab-grown diamond brand, YourStory brings you today’s headlines that highlight significant developments across industries.

Featured news

The DeepSeek threat: India may have a GPU problem and it needs to act fast

In a major step towards achieving its AI ambitions, Union Minister of Electronics and IT Ashwini Vaishnaw on January 30 announced plans to develop India’s own foundational model. This bold plan leans heavily on computing infrastructure. 

India claims it has already exceeded its original target of procuring 10,000 GPUs through public-private deals, stockpiling a total of 18,600 GPUs. So is that all it takes to thrust India into the AI limelight? Not quite. 

Anthropic CEO Dario Amodei, in his most recent paper, argued that major AI powerhouses in the US and China are flexing a far bigger muscle. DeepSeek alone, Amodei says, may have 50,000 of Nvidia’s latest Hopper-generation chips—a haul worth about a billion dollars. That makes a world of difference in both hardware and funding, and India needs to catch up fast in the global GPU race. 

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Latest news

Kalaari Capital's Priyanka Gill launches lab-grown diamond brand COLUXE

Serial entrepreneur and Co-founder of The Good Glamm Group, Priyanka Gill, is moving on from her role at Kalaari Capital as a venture partner to launch a lab-grown diamond brand, after raising angel funding.

COLUXE aims to make fine jewellery an everyday luxury for aspirational consumers. It will take the omnichannel approach to offer products in contemporary designs, such as solitaire rings, pendants, earrings, tennis bracelets, and necklaces, besides signature pieces and thematic collections around the zodiac.

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OYO to invest 50M pounds in UK to expand premium hotel portfolio

Global hospitality technology company OYO plans to invest 50 million pounds in the UK over the next three years to expand its premium hotel portfolio. This investment is expected to generate 1,000 direct and indirect jobs and attract more international visitors, offering a significant boost to the local hospitality industry. 

OYO is actively pursuing the premiumisation of its UK portfolio through a multi-pronged approach. The company is shifting its focus towards acquiring premium inventory, emphasising long-term leasehold and management contracts. It is also in advanced talks with several major hotel chains and real estate firms regarding potential asset management transactions.

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Other news

New Relic integrates Observability with DeepSeek 

New Relic, an intelligent observability firm, has introduced the industry’s first AI monitoring solution for DeepSeek, designed to streamline the development, deployment, and monitoring of generative AI (GenAI) applications while reducing complexity and costs.

The platform supports DeepSeek and DeepSeek on Microsoft Azure AI Foundry, enabling customers to gain visibility across the AI stack with enhanced data security.

“Observability solves this challenge by providing visibility across the AI stack. We are pioneering AI observability and extending our platform to include AI apps built with DeepSeek so enterprises can make the right decisions on which AI models to deploy and where to use them. Combining DeepSeek’s cost-effective AI models with our expertise in observability and APM gives enterprises a competitive edge in the AI race," said Ashan Willy, CEO at New Relic.

GPCA launches first Southeast Asia Women Investors Directory

The Global Private Capital Association (GPCA) launched its inaugural Southeast Asia Women Investors Directory, an initiative aimed at increasing the visibility of women investors across the region and tracking the growth of the women investor community.

The directory features 365 women investment professionals deploying private capital across various asset classes, including private equity, venture capital, private credit, infrastructure, natural resources, and real estate.

Among them, 132 women hold senior-level roles, of which 52% are based in Singapore and 72% work in venture capital. The initiative is supported by Investing in Women, a programme backed by the Australian Government.

GPCA represents over 300 members managing over $2 trillion in assets across 130 countries. It connects family offices, pension funds, venture capital firms, and institutional investors to opportunities in global markets.

Beacon rolls out Indian Bill Pay with Bharat Connect (BBPS) and YES bank 

Beacon, a super app purpose-built for immigrants to Canada, has introduced India Bill Pay, allowing users to pay Indian bills directly in Canadian dollars from their Beacon Money account. This first-of-its-kind cross-border bill payment solution is launched in partnership with Bharat Connect (BBPS) and YES BANK in India.

With 60% of remittances to India used for family maintenance, NRIs often struggle to manage payments due to restrictions on India's banking system. Traditionally, they rely on NRI bank accounts or family assistance, which can be expensive and inconvenient. India Bill Pay aims to address these challenges by offering an independent solution through the Beacon super app, now available on Google Play and the App Store, the company said in a statement.

Lilly India onboards Winselow Tucker as President and General Manager

Eli Lilly and Company (Lilly) appointed Winselow Tucker as the President and General Manager of Lilly India, effective immediately. Tucker will oversee the firm’s commercial operations in India and lead the Lilly Capability Centre India (LCCI) in Bengaluru and Hyderabad.

Meanwhile, Vineet Gupta, Associate VP and Managing Director, India, will transition to a new leadership role at Lilly’s headquarters in Indianapolis, US.

“We are pleased to announce the appointment of Winselow as President and General Manager for Lilly India. This key leadership move brings all our operations under a 'One India' strategic framework, reinforcing our unified strategy and deepened commitment to driving growth and innovation in the country,” said Ilya Yuffa, Executive Vice President and President of Lilly International. 

“Winselow’s extensive experience and strategic vision will be pivotal in driving growth and positioning Lilly for long-term success in India,” he added.

Since joining Lilly in 2022, Tucker has served as Group Vice President and Chief Commercial Officer of Lilly Oncology, leading global and US commercialisation efforts.

He also oversaw go-to-market strategies, new product development, and the US oncology business, driving growth and market expansion.

Aye Finance partners with Credgenics 

NBFC Aye Finance has partnered with Credgenics, an AI-powered debt collections platform, to enhance its digital debt resolution processes.

This collaboration will leverage Credgenics’ SaaS platform to enable personalised, insights-driven borrower communication and collection strategies. The CG Collect field app will assist collection agents with better task management, enabling borrowers to make instant digital payments. Additionally, Bilzy Payments will allow Aye Finance to generate secure, personalised payment links, streamlining digital transactions.

MediBuddy partners with Japan's ELECOM to launch IoT-enabled smart health devices

MediBuddy has partnered with Japanese electronics giant ELECOM to bring smart health IoT devices to India. The collaboration will initially focus on integrated digital health solutions, addressing the country’s growing lifestyle disease crisis, causing 6 million fatalities annually.

Satish Kannan, CEO and Co-founder of MediBuddy, said, “Preventive healthcare is critical for a large population to lead a healthy lifestyle, especially with the rising incidence of non-communicable diseases (NCD) in India. Our aim is to provide solutions that simplify patients' ability to track and adopt healthy habits. Through this partnership, we are combining MediBuddy's unparalleled Pan-India reach and deep healthcare expertise with ELECOM's world-class IoT technology to create a seamless healthcare ecosystem.”

FIITJEE Global School students launch ASTROSEED picosatellite

Students of FIITJEE Global School, Chennai, have launched their first in-house picosatellite, ASTROSEED. The project, aimed at advancing satellite communication and space technology, focuses on cost-effective and scalable solutions.

Over 1,000 people, including students, parents, and educators, attended the launch, making FIITJEE Global School the first in Chennai to achieve this milestone. A team of 30 students worked on the satellite’s design, development, and launch under the guidance of Dr Natarajan A, a scientist at ISRO’s Vikram Sarabhai Space Centre, and a key figure in the Gaganyaan and Chandrayaan missions.

The initiative is part of FIITJEE’s effort to integrate hands-on space technology education into its curriculum.

Bandai Namco makes additional investment in SuperGaming 

Bandai Namco Entertainment, the Japanese game publisher known for Elden Ring, Dark Souls Trilogy, One Piece, and PAC-MAN, has invested additional capital in SuperGaming, a game development studio and publisher.

The investment was made through Bandai Namco’s 021 Fund, launched in April 2022, to support new entertainment experiences and expand business operations. The company sees India as a key growth market, alongside Latin America, the Middle East, and Southeast Asia. 

While the investment amount remains undisclosed, the 021 Fund typically provides capital between 10 million and 500 million yen ($75,000 to $3.75 million) per startup. The funding aims to strengthen Bandai Namco’s presence in India and explore new opportunities in the region’s gaming sector. 

“Bandai Namco doubling down on their investment is a strong vote of confidence in our mission and our team—to build world-class games and gaming infrastructure from India for India and the world. This renewed partnership validates our commitment to shaping the future of gaming, not just in India but on a global stage,” said Roby John, CEO and Co-founder of SuperGaming.

Tata Communications, CoRover.ai partner to build AI solutions for governments, enterprises

Tata Communications and CoRover.ai have partnered to develop sovereign AI solutions for Indian enterprises and government agencies. The partnership will enhance India’s AI capabilities while ensuring data sovereignty, cultural relevance, and regulatory compliance.

Sovereign AI refers to a nation’s ability to develop AI using its own infrastructure, data, workforce, and business networks. The initiative will leverage Tata Communications’ Sovereign AI Cloud Platform and CoRover’s conversational AI technologies, including BharatGPT, its proprietary large language model (LLM).

The partnership aims to deliver cutting-edge, GenAI-powered solutions by integrating Tata Communications’ Sovereign AI Cloud Platform with CoRover’s conversational AI technologies, including its proprietary BharatGPT large language model (LLM).

HDFC Bank Parivartan Start-Up Grants to support over 50 startups with Rs 20 Cr in FY25

HDFC Bank announced the eighth edition of its Parivartan Start-up Grants programme, aimed at supporting 50-60 social impact startups through a network of 15+ incubators and accelerators. Selected startups will receive grants of up to Rs 50 lakh, with a total programme budget of Rs 20 crore.

Among the incubators shortlisted this year are IIT Madras, IIM Ahmedabad Ventures, Villgro, ICAR Pusa Krishi, IIT Guwahati Bionest, ASPIRE – University of Hyderabad, IIM-Calcutta Innovation Park, i-Hub Gujarat, Kerala Start-Up Mission, and IFMR Catalyst AIC.

In the coming months, these incubators will invite applications from social entrepreneurs across India. The programme will conclude with demo day events, where startups will showcase their innovations to HDFC Bank, investors, corporates, and media, increasing visibility and funding opportunities.

Gaurav Agarwal joins AuthBridge as Senior Vice President, BFSI Vertical

AuthBridge appointed Gaurav Agarwal as Senior Vice President for its banking, financial services, and insurance (BFSI) vertical.

With over 20 years of experience in financial services, Agarwal will lead growth and innovation efforts in the segment. He has held leadership roles at Paytm and ICICI Bank, driving business development, strategic planning, market analysis, and digital marketing.

Ajay Trehan, Founder and CEO of AuthBridge, said, “We are excited to welcome Gaurav to the AuthBridge family. His deep understanding of the BFSI sector, coupled with his expertise in leading high-performing teams, aligns with our vision of delivering superior authentication solutions to our clients. Gaurav’s leadership will further strengthen our capabilities in this domain.”

Digi Yatra reaches 10M user milestone

Digi Yatra, the self-sovereign identity (SSI)-based facial biometric platform for seamless airport travel, has crossed 10 million app downloads. Launched in December 2022, Digi Yatra has streamlined passenger processing at 24 airports, facilitating over 45 million seamless journeys.

Suresh Khadakbhavi, CEO of Digi Yatra Foundation, said, “10 million user milestone reflects the trust and confidence that our users have placed in us. Our efforts, including the ‘d-KYC’ campaign initiative, helped us drive growth in 2024. We aim to maintain the momentum of innovation, privacy, and evolution of the passenger experience to achieve even greater breakthroughs in the future. Our partnership with the International Air Transport Association (IATA) for the IATA One-ID X Digi Yatra for enablement of Digi Yatra for International flow will drive further growth in 2025." 

This year, the platform intends to support all 22 official Indian languages with plans to conduct an international pilot project, enabling foreign passengers with electronic passports (e-passports) to experience its seamless ecosystem. 

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