Startup news and updates: Daily roundup (February 25, 2025)

From Nykaa issuing 90,500 equity shares under its ESOP scheme to Zomato investing Rs 1,500 crore in its quick commerce arm Blinkit, YourStory brings you the latest updates from the Indian startup ecosystem.

Featured story

India has to change the way it looks at risk capital: Rukam Capital’s Archana Jahagirdar

Startups have become an integral part of entrepreneurship and today, India is the third largest startup ecosystem in the world with about 140,000 startups as of June 30, 2024. Venture capital firms are powering this growth. Rukam Capital is one such VC launched in 2019 by founder Archana Jahagirdar.

Jahagirdar is part of the organising committee for the second edition of Startup Mahakumbh, which is bringing together over 3,000 startups and over 1,000 investors to discuss and fuel entrepreneurial ideas and growth at Bharat Mandapam, New Delhi.

YourStory spoke with Jahagirdar to understand the rising role of VC firms in the startup ecosystem and how the stigma attached to risk capital needs to undergo further change in the country today. Read more. 

Latest news

Nykaa allots 90.5K shares under ESOP scheme

Beauty and personal care marketplace Nykaa allotted 90,500 equity shares under the company's Employee Stock Option (ESOP) Scheme. The allotted ESOP amounts to a total of Rs 1.49 crore based on the company’s opening price of Rs 165 apiece on NSE on Monday. Read more.

Zomato doubles down on investment in Blinkit with a Rs 1,500 Cr bet

Foodtech giant Zomato invested Rs 1,500 crore in its quick commerce arm Blinkit amid fierce competition and rapid expansion. Zomato acquired 7,612 shares at the issue price of 19,70,171 per share to invest Rs 1,500 crore, as per the Registrar of Companies (RoC). Read more. 

Funding news

Dodo Payments secures $1.1M pre-seed funding

Dodo Payments, a cross-border fintech startup, raised $1.1 million in a pre-seed funding round led by Venture Catalysts, Antler, and 9Unicorns.

Angel investors, including Nitin Gupta (Uni Cards and PayU,) Maninder Gulati (former Oyo CSO/Lightspeed), Nishant Verman (former Flipkart CorpDev head), Raymond Russell (former Chief of Staff at Boom Supersonic), Preethi Kasireddy (former Partner, a16z), and others, also participated.

Founded in 2023 by Rishabh Goel and Ayush Agarwal, Dodo Payments addresses critical challenges in international payments, such as low success rates, lack of access to alternate payment methods, complex documentation processes, and poor vernacular support.

Technodysis secures Rs 10 Cr in debt financing

Bengaluru IT startup Technodysis raised Rs 10 crore in debt funding from Recur Club, a debt marketplace for startups and SMEs. This funding is intricately structured, blending both secured and unsecured debt, spanning the fiscal years 2023 and 2024.

It will use the funds to scale its operations, develop its product offerings, and strengthen its presence in key international markets. Technodysis has increased its revenue from Rs 6 lakh in FY21 to Rs 20.25 crore in FY24. The company aims to clock a revenue of Rs 35 crore for FY25 and has set an ambitious target of achieving Rs 200 crore over the next three years.

Other news

ePlane partners with Empire Aviation to scale eVTOLs in UAE, Southeast Asia

The ePlane Company, an eVTOL (electric vertical takeoff and landing) manufacturer, and Dubai-based aviation solutions company Empire Aviation Group announced a strategic collaboration at Aero India 2025 to fast-track the deployment of eVTOL air taxis and air ambulances across India, UAE, Thailand, and Indonesia.

Empire Aviation Group will leverage its expertise in aviation operations, including safety protocols, SOPs, and fleet management, to ensure seamless market entry for ePlane’s cutting-edge eVTOL aircraft. Besides, the company shall consider a strategic investment in ePlane in the next round of funding, subject to mutually agreeing terms.

Thriwe adds loyalty benefits for Pickleball, Paddle Tennis

Thriwe, a global loyalty programmes and benefits provider, has expanded its loyalty program benefits in the sports arena to include Pickleball and Paddle Tennis.

Thriwe has been at the forefront of delivering premium golf experiences to its customers. With the evolving sports landscape in India and the surging popularity of Pickleball and Paddle Tennis across the globe, Thriwe will now offer these benefits to its existing as well as new clients in India and UAE.

Digit Insurance, KMD partner to offer AQI-based parametric insurance to Delhi NCR construction workers

Go Digit General Insurance Limited, a digital full-stack insurance company, has partnered with K.M. Dastur Reinsurance Brokers (KMD) to provide an AQI-based parametric insurance to migrant labourers affected due to construction bans during excessive air pollution in the Delhi-NCR region.

This unique Digit Parametric Insurance Policy will consider claims if the daily AQI of Delhi breaches 400 beyond two strikes. The policy will be offered to 6,200 migrant workers in the Delhi-NCR region.

Samarth launches Samarth Clinics for senior healthcare in India

Eldercare organisation Samarth launched Samarth Clinics for Healthy Ageing to meet the specific healthcare needs of India’s expanding senior population. These clinics will have physician-led multi-disciplinary teams, key healthcare services integrated with home and community care, and focus on prevention and early detection, aiming to reduce the need for hospitalisation and emergencies.

“Our clinic model is not just about delivering healthcare—it’s about fostering trust, reducing hospitalisations through prevention and early detection, and creating an ecosystem of support on the side of the patient at every step of their healthcare journey. Our physicians handhold the patients, even when they need to consult another specialist or be admitted to a hospital,” said Asheesh Gupta, Founder and CEO of Samarth.

Paras Health elevates Vineet Aggarwal to group COO

Paras Health promoted Vineet Aggarwal to Group Chief Operating Officer effective immediately. Previously serving as Chief Information Officer (CIO), he brings extensive experience and strong leadership to his new role.

Since joining Paras Health in September 2021, Aggarwal has demonstrated exceptional leadership and played a crucial role in driving key operational and strategic initiatives across various departments. His innovative approach to digital transformation, patient engagement, and business process optimisation has significantly contributed to the company’s growth, the company said in a statement.

CarDekho Group expands into the UAE market

CarDekho Group, the auto-tech and fintech solutions provider, has entered the UAE market in partnership with Raya Holdings. Replicating its Indian playbook, the company will now cater to the specific needs of the UAE market, aiming to ensure a seamless experience for car buyers, brands, and dealers alike.

CarDekho’s integrated ecosystem, encompassing advertising, lead management, and digital content solutions, aims to redefine the car-buying journey for UAE consumers. By bridging the gap between digital platforms and physical dealerships, CarDekho seeks to offer an efficient and personalized experience, which aims to cater to the evolving preferences of digitally savvy buyers in the region.

Also Read

Startup news and updates: Daily roundup (February 24, 2025)

Zendesk to acquire advanced voice solutions provider Local Measure

Zendesk, an AI-powered service provider, to acquire Local Measure, a CCaaS and advanced voice solutions and a long-term AWS partner. This acquisition accelerates Zendesk’s expansion into larger, more complex service environments, enhances its AI voice capabilities, and strengthens its integration with Amazon Connect, AWS’s enterprise-ready, AI-powered, cloud contact centre solution that helps companies deliver superior customer service at a lower cost.

Kiko Live surpasses 5,000 daily orders on ONDC

Quick commerce company Kiko Live reached a significant milestone by exceeding 5,000 daily orders from its consumer app, KikoShop, within a month of its launch on ONDC. The company launched its consumer app in Delhi in January.

Founded in 2020, Kiko Live focuses on helping small retailers build, manage, and scale their home delivery businesses through innovative SaaS solutions. The app allows users to paste an entire grocery list directly into the search box, simplifying the shopping process by eliminating the need to search for individual items. Kiko Live has received a patent for this unique multi-search feature.

Brigade Reap onboards 5 urban tech startups for its 17th cohort

Brigade REAP, an UrbanTech accelerator, announced its 17th cohort, comprising five urban tech startups from a competitive pool of 180 applicants. The selected startups include those in ESG reporting, real estate asset management, artificial intelligence, sustainability, and a first-of-its-kind robotics startup focused on real estate. 

These startups were chosen based on their innovative use of technology to address challenges and opportunities and give tangible benefits to the real estate sector. Brigade REAP will provide mentorship to these startups and help them scale their businesses and garner investments.

"By mentoring these startups, we’re not just fueling their growth—we’re shaping the future of urban tech and sustainability. Our hands-on support helps them scale, drive innovation, and make a real impact in the PropTech sector, which is projected to reach $86.5 billion by 2032 globally," said Abhay Garg, Chief Mentor, Brigade REAP.

lendingplate strengthens leadership team with strategic C-suite appointments

Unifinz Capital India Ltd. (lendingplate) appointed three industry leaders to its executive team. Sagar Gogawat joined as Chief Business Officer to drive product and business strategies, while Ankur Koul, as Chief Marketing Officer, will lead marketing initiatives and brand development. Srikanta Khatei, as Chief Technology Officer, will spearhead digital transformation and fintech innovation.

The trio brings extensive expertise from leadership roles at GroundTruth, PayU, Trust More, and other major firms, reinforcing lendingplate’s commitment to growth and innovation in the fintech sector.

Kota launches comprehensive student welfare reforms under Kota Cares initiative

The Kota District Administration announced a comprehensive set of reforms under its Kota Cares initiative for student welfare. The reforms, developed through extensive stakeholder consultations, introduce sweeping changes across student housing, safety protocols, and support systems, setting new benchmarks for educational cities nationwide.

Kota Cares, launched in December 2024, brings together the district administration, coaching institutes, hostel associations, and local communities in a coordinated effort to enhance student well-being.

Navi Mutual Fund launches Navi Nifty Smallcap250 Momentum Quality 100 Index Fund

Navi Mutual Fund (Navi MF) launched the Navi Nifty Smallcap250 Momentum Quality 100 Index Fund, an open-ended fund that will replicate and track the Nifty Smallcap250 Momentum Quality 100 Index.

The index fund combines the growth potential of small-cap stocks with the power of factor investing. The fund selects the top 100 companies from the Nifty Smallcap 250 Index based on a unique blend of momentum and quality factors.

The momentum score for each company is determined based on its 6-month and 12-month price return, adjusted for volatility. The quality score for each company is determined based on return on equity (ROE), financial leverage (Debt/Equity Ratio) and earning (EPS) growth variability analysed during the previous 5 years. The New Fund Offer (NFO) opens on February 25 and closes on March 10.

Premji Invest owned Best Value Chem opens Rs 550 crore new facility

Best Value Chem, a fragrance, flavor and personal care chemical manufacturing company owned by Premji Invest has opened its third manufacturing facility at Dahej in Gujarat which saw an investment of Rs 550 crore.

According to a statement, this new plant will double the production capacity in the first phase with 10,000 metric tonnes per annum. It has capabilities such as hydrogenation, grignard reactions, oxidation, distillation, and esterification which is expected to support its future growth targets. BVC manufactures over 50 products for flavors, fragrances and personal care ingredients industries and has over 300 clients globally across 30 countries.

“This investment underscores our commitment to generating long-term value for our stakeholders and positions BVC as a leader in the global supply chain,” said Manoj Jaiswal, Partner – Industrials & Buyouts, Premji Invest.

Boon enters into partnership with Cygnett Hotels & Resorts

Boon, a watertech company has entered into a partnership with Cygnett Hotels & Resorts to introduce its AI enabled hydration solutions across all existing and upcoming properties of the brand. As part of this partnership, Boon will deploy its Purify solution, which harnesses AI technology to purify water, followed by the Refill system, which enables efficient bottling in reusable glass bottles at 25 operational properties of Cygnett Hotels & Resorts in a phased manner. It will also be deployed in the upcoming 24 project properties of the hospitality company. 

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