Startup news and updates: Daily roundup (February 19, 2025)

From SpeakX leveraging GenAI to improve English-speaking skills and Zaggle scaling via AI-driven automation to Healthfab raising $1M for sustainable menstrual care, YourStory brings you key updates from the Indian startup ecosystem, including major leadership hires at PayU and REA India.

Featured stories

This startup uses GenAI to help users fine-tune English speaking skills

SpeakX, founded by Arpit Mittal, helps users improve English-speaking skills through real-life conversation practice, gamification, and GenAI-powered feedback. Launched as a pivot from Yellow Class, it operates on a Rs 299/month B2C subscription model with 50,000 users, mainly from Tier II and III cities.

Since monetizing in November 2023, SpeakX has hit $3M ARR and targets $20M in FY25. It plans to expand to new languages and regions, including the Middle East and Southeast Asia, while leveraging GenAI to differentiate itself from competitors like Duolingo.

Read more here.

Scaling Zaggle: Founder Raj Narayanam’s game plan for growth via acquisitions, automation

Raj Narayanam, Founder of fintech giant Zaggle, is as passionate about scaling his company as he is about collecting sports memorabilia, including signed gear from Lewis Hamilton and Diego Maradona.

After a 13x oversubscribed IPO in 2023, Zaggle raised Rs 595 crore via QIP to fund acquisitions and expand into merchant ecosystems. Its Rs 32 crore acquisition of TaxSpanner helps gig workers claim unclaimed tax refunds, boosting retention.

With AI-driven automation, Zaggle reduces expense management errors by 60-70%. Despite a 2.71% sequential profit dip in Q3 FY25, its high-margin SaaS and interchange fee revenues fuel strong growth.

Read more here.

Funding news

Healthfab secures $1 M Pre-Series A funding to drive sustainable menstrual care

Healthfab a reusable period panty brand has raised $1 million in its Pre-Series A funding round. Led by Mistry Ventures, the round also saw participation from BeyondSeed, Thrive Ventures, and prominent investors Anupam Mittal, Aman Gupta, Vineeta Singh, and Peyush Bansal.

This follows Healthfab’s seed round in 2022, led by BeyondSeed.

Founded by Kiriti Acharjee, Sourav Chakrabarty, and Satyajit Chakraborty, Healthfab is India’s first reusable period panty brand to receive BIS certification and patent protection.

With over 3 lakh customers and an annual revenue growth rate of 2.5-3x, the company plans to expand its presence in metro and Tier II cities while investing in R&D.

"We are thrilled to welcome our new investors and grateful to BeyondSeed for their continued trust. Their belief in our vision strengthens our commitment to making menstrual care more comfortable, affordable, and sustainable. With this funding, we will deepen market penetration and drive innovation in functional wear," Kiriti Acharjee, Co-founder of Healthfab, said.

Other news

Atlys Enters UK Market, Acquires Artionis to Digitize Visa Services

Atlys, a digital visa platform has announced its expansion into the UK with the all-cash acquisition of Artionis, a UK-based visa services company.

This move strengthens Atlys’s global presence by adding 40 specialists across London, Manchester, and Edinburgh, with plans to double its UK workforce by year-end.

Artionis brings expertise in UK-to-Russia visa processing, which Atlys will digitize to simplify applications, reduce paperwork, and provide refund-backed approval timelines.

"Expanding to the UK represents more than just market growth – it's about creating a more equitable travel ecosystem," said Mohak Nahta, Founder and CEO of Atlys. "Our platform is designed to make international travel accessible to everyone, regardless of their passport strength, and the UK's strategic position will help us extend this impact across Europe."

PayU appoints Pramod Rao as Chief Risk Officer to strengthen digital security

Digital financial services provider PayU has appointed Pramod Rao as its new Chief Risk Officer (CRO).

With over 27 years of experience in banking, financial services, and telecom, Rao will lead PayU’s risk management strategies, regulatory compliance, and fraud prevention initiatives.

"We are delighted to welcome Pramod Rao to PayU at a pivotal time, as digital transactions continue to scale rapidly. His extensive experience in financial security, regulatory compliance, and fraud prevention will be key to enhancing our risk framework and ensuring seamless, secure transactions for our customers," Anirban Mukherjee, CEO of PayU, said.

"I am thrilled to join PayU and contribute to its vision of enabling secure and seamless digital transactions. As digital payments continue to evolve, strengthening risk management frameworks will remain a top priority. I look forward to working with the talented team at PayU to enhance security measures, drive compliance excellence, and support the company’s growth in the dynamic payments ecosystem," Rao added.

REA India appoints Abhishek Makkar as group CTO to drive technology innovation

REA India, the parent company of Housing.com and PropTiger.com, has appointed Abhishek Makkar as its new Chief Technology Officer (CTO).

Based in Gurgaon, Makkar will lead the Engineering and Data Science teams while joining the REA India Executive Leadership Team. He will report directly to CEO Dhruv Agarwala.

Makkar brings nearly two decades of experience in technology leadership, having previously led core ecommerce initiatives at Expedia India and global retail engineering teams at Amazon.

"His proven track record in scaling technology operations and driving innovation aligns perfectly with our vision for the future. As we continue to transform the home buying, selling, and renting journey through technology, Abhishek’s expertise will be instrumental in advancing our platform capabilities," Dhruv Agarwala, Group CEO of Housing.com and PropTiger.com, said.

Zypp Electric to deploy 100,000 EVs, partners with Indofast Energy to expand EV fleet

Zypp Electric, in partnership with Indofast Energy, is set to deploy 100,000 electric two-wheelers (E2Ws) over the next 12-18 months as part of its mission to achieve 100% electrification by 2028.

This expansion will scale Zypp's fleet fivefold, with deployments across major cities like Delhi NCR, Mumbai, Bengaluru, and Hyderabad.

“This major expansion will not only solidify our market leadership in India but also propel us towards global markets in Southeast Asia, the Gulf, and Africa,” said Tushar Mehta, Co-founder and COO at Zypp Electric.

With plans to establish 10,000 battery-swapping stations in 50+ cities, Indofast aims to support over one million EV users.

Skylark Drones unveils new platform for agri sector

Skylark Drones has introduced a new software platform, DMO-AG, focused on the agriculture sector. DMO-AG is a unified platform that brings together farmers, drone operators, maintenance teams, and agrochemical companies.

This DGCA-compliant platform has features such including real-time fleet management, crop-specific recommendations, and automated health monitoring, all accessible through an interface available in local languages. This solution is compatible with all major autopilot-enabled controllers.

Skylark Drones co-founder Mrinal Pai said, “By democratising access to drone technology, we anticipate increased adoption of precision farming, leading to higher yields, reduced input costs, and more sustainable practices.”

JBI Aerospace forms partnership with VIK-COMPOSITE

JBI Aerospace and VIK-COMPOSITE GmbH, Germany have announced an alliance with a focus on aerospace, space, and defence applications.

As part of its expansion strategy, JBI Aerospace is set to establish a facility in India, aimed at reducing costs, shortening lead times, and addressing specific customer needs. This initiative is expected to support the composite industry in India and also enhance indigenous manufacturing capabilities through innovation and collaboration.