Startup news and updates: Daily roundup (February 26, 2025)

From Elevation Capital leading an $18 million funding round in MOC Cancer Care & Research Centre to a Belgian pharmacist empowering rural women in Trichy, YourStory brings you today’s headlines with the latest developments across sectors.

Featured stories

From service to social enterprise: How a Belgian pharmacist is empowering rural women in Trichy

Belgian pharmacist David Vandevoort never expected his life to take root thousands of miles away in the vibrant temple city of Trichy in India. What started as a mission to serve evolved into an entrepreneurial journey that embraces everything local and natural. 

Prema Nature, his brainchild, is not just an incense brand—it’s a social enterprise dedicated to empower rural women. 

Vandevoort’s journey to India was driven by a desire to “serve”. After completing his pharmacy studies, he spent four months in India and three months in Nepal, where he was moved by the joy and resilience of children who had little material wealth.  

“They would work all day and sleep outdoors and I would be sleeping in a room. It felt strange, but it also gave me insight into their resolve and strength,” says Vandevoort. Read more.

Latest news

upGrad announces AI incubator with Rs 100 Cr allocation

Mumbai-based edtech company upGrad has announced an AI incubator to nurture and scale homegrown artificial intelligence (AI) startups. 

In its initial phase, the company has allocated Rs 100 crore to drive product innovation by providing emerging startups with essential resources, including infrastructure and minimum seed capital.

The incubator aims to assist startups in developing plug-and-play AI technologies focused on learning, skilling, and workforce development, ensuring compatibility across industries for better scalability and efficiency. Read more.

Micromax makes foray into renewable energy space

Home-grown consumer electronics brand Micromax Informatics on Wednesday announced its foray into renewable energy segment with the launch of Startup Energy. 

This new venture aims to revolutionise solar panel manufacturing in India, driving the widespread adoption of sustainable energy and supporting the country’s ambitious clean energy mission, a company statement said. 

As the world accelerates its transition to clean energy, Startup Energy is poised to play a pivotal role in India’s renewable energy revolution, it added. Read more.

Zepto strengthens footprint with over 20 dark stores operational in TN

Quick commerce company Zepto has strengthened its presence beyond Chennai in Tamil Nadu and is now serving several districts including Coimbatore, Tiruchirappalli, Madurai, Vellore and Salem, the company said. 

In Tamil Nadu, over 100 farmers provide tender coconuts and green vegetables from Palacode and Pollachi to serve various customers including users of the Zepto platform.

With 20 plus dark stores now operational in Tamil Nadu, each store is strategically positioned to optimise delivery routes within a 2-3 km radius, allowing delivery partners to maintain a safe and efficient speed of 15-20 km per hour while upholding Zepto's 10-minute delivery promise, a company statement said. Read more.

Funding news

Wipro commits $200M in fresh funding to its venture arm

Indian technology services company Wipro has announced that it will commit $200 million to its venture arm, Wipro Ventures.

This is the fourth round of funding raised by Wipro Ventures since its inception in 2015. It is focused on accelerating the company’s investments in early- to mid-stage startups.

Since its inception, Wipro has invested in 37 startups in areas such as artificial intelligence, data and analytics, cybersecurity, and cloud infrastructure. It has deployed solutions across 250-plus Wipro customers globally and had 12 successful exits, the company said. Read more.

Bridgetown Research raises $19M from Lightspeed and Accel

AI decision science startup Bridgetown Research has secured $19 million in a Series A funding round led by Lightspeed and Accel, with participation from a leading research university. 

Bridgetown will use the fresh capital to further train its AI agents, broadening their analytical capabilities across multiple domains and strengthening industry partnerships to enhance access to domain-specific intelligence. Read more.

Elevation Capital leads $18M round in MOC Cancer Care

MOC Cancer Care & Research Centre, a chain of cancer daycare centres, has raised $18 million in funding led by Elevation Capital.

MOC raised $10 million from Tata Capital Healthcare Fund in 2023 to expand its operations and technological capabilities. 

MOC, a unit of Cellcure Cancer Centre Pvt Ltd., was founded by Ashish Joshi, Vashishth Maniar, Pritam Kalaskar, and Kshitij Joshi in 2018. It operates in 24 centres in Mumbai, Pune, the rest of Maharashtra, Ahmedabad, Indore, and Chhattisgarh. Read more.

Quick Clean raises $6M funding in maiden round

Quick Clean, which provides professional linen management solutions, has raised Rs 50 crore ($5.7 million) in its maiden round.  

The round was led by Alkemi Growth Capital and Blue Ashva Capital, and saw an additional investment of Rs 10 crore ($1.15 million) credit line from Venture Debt Cos., the company said in a statement. 

Quick Clean plans to use the raised capital to expand its footprint into healthcare and hospitality and reinforce its position as a leader in the $36 billion Indian commercial laundry industry, it added. Read more.

Vidyut bags $2.5M from Flourish Ventures

Vidyut, a full-stack electric vehicle (EV) ecosystem platform, has bagged $2.5 million in funding from global fintech investor Flourish Ventures. 

The funding will fuel the expansion of Vidyut’s battery-as-a-service offerings in both passenger and commercial EV segments.

Founded in 2021 by former Swiggy and Bounce executives Xitij Kothi and Gaurav Srivastava, Vidyut has focused on commercial EV financing by separating batteries from EVs and offering them on a pay-per-km subscription model. This approach is said to reduce upfront 3W EV costs by 35-40%, making them more affordable than ICE vehicles from day one. Read more.

HiWiPay raises $2M in seed round led by Unicorn India Ventures

HiWiPay, a cross-border payments platform, has raised $2 million in a seed round led by Unicorn India Ventures. The round also saw participation from Dewang Neralla's family office, Jupiter Metaverse LLP, and angel investors Dr Ritesh Malik, Mitesh Shah, and Nilesh Doshi.

Founded by Dewang Neralla, along with Geeta Chauhan and Ujwal Tamminedi, HiWiPay plans to use the funds to expand its trade remittance business and scale operations in the education remittances sector.

HiWiPay plans to expand beyond student payments by entering the SME trade remittance space. It also aims to launch co-branded forex cards and other financial services for students.

HiWiPay has built a portal for exporters to collect payments with required documentation and plans to launch a similar solution for importers, aiming to streamline SME trade remittances globally.

Triple Tap Games secures $1.2M pre-seed funding

Triple Tap Games, a gaming studio, has raised $1.2 million in a pre-seed funding round led by Eximius Ventures and Kalaari Capital, with support from angel investors in entertainment and gaming.

The funding will support Triple Tap’s goal of creating innovative mobile games in the ‘relax and unwind’ category for a global audience. The company plans to use the investment to launch and scale its games in the US and Europe.

Led by Karan Khairajani, a seasoned founder with a track record of scaling studios, the team leverages innovative design and AI-driven development to create engaging casual games. After being acquired by Crazy Labs in 2021, the team is now focused on developing hybrid casual games.

Hornet raises Rs 4 Cr seed funding from Artha Venture Fund

Hornet Decentratech Private Limited, a crypto forensics and investigation platform, has raised Rs 4 crore in seed funding from Artha Venture Fund. 

This strategic investment will drive the company’s expansion into B2C, B2B, and B2G markets by enhancing risk analysis tools, strengthening regulatory compliance solutions, and extending its presence across multiple regions.

Hornet is an indigenously researched and developed crypto forensics product designed for law enforcement agencies, financial institutions, and crypto exchanges. It specialises in tracking, monitoring, and investigating cryptocurrency-related crimes, including money laundering and dark web activities.

1312 Interactive raised pre-seed round of funding

The PC and console game publishing house 1312 Interactive has raised an undisclosed pre-seed round of funding from a group of angel investors. The investors include: Akshat Rathee and Gautam Virk of Nodwin Gaming, Rajat Ojha - Gametronics, Sridhar Muppidi - YesGnome, Tanay Tayal - ex-Moonfrog), founders of Playsimple, Vatsal Chintalpati - ExMachina Investment Partners, and Rick Herman - ex-Sony, ex-Amazon).

This startup has three upcoming releases for 2025: Winds of Arcana (Brewed Games), Palm Sugar: A Village Story (Mono Tusk Studios), and Souls of Bombarika (Street Lamp Games). It plans to release 6-8 more titles annually that can offer marketing, QA, localisation, and production support to game studios across India and beyond.

The founders of 1312 Interactive, Deepak Gurijala and Raviteja Mantena, in a joint statement, said, "India has some of the most talented game developers, yet our presence in the global PC and console market has been limited. Our goal is to bring Indian games to a global audience while ensuring our studios get the right support to build world-class titles. Beyond India, we are also exploring opportunities with game developers in South East Asia, MENA and South American markets."

Other news

Nothing names Co-founder Akis Evangelidis as India President

London-based technology company Nothing has appointed its Co-founder, Akis Evangelidis, as India President. In this new role, he will lead the strategic direction and growth of the company’s operations in India.

India has played a crucial role in Nothing’s growth. In 2024, it became the fastest-growing smartphone brand in the country, with a 577% year-over-year increase—driven by strong demand for the Phone (2a) Series and its sub-brand, CMF by Nothing.

Evangelidis’ expanded role highlights India’s critical role in Nothing’s overall business strategy, and he will now lead the next phase of growth, the company said.

Nothing recently announced that the Phone (3a) Series, set to launch on March 4, will be manufactured in Chennai.

Grant Thornton Bharat, Zoho join forces to drive digital transformation

Grant Thornton Bharat and Zoho have joined forces to drive digital transformation for Indian mid-market enterprises.

This collaboration combines Grant Thornton Bharat’s industry expertise with Zoho’s cloud-powered solutions, enabling Indian mid-market enterprises to navigate their digital journeys with greater agility and efficiency.

Through this collaboration, businesses will receive expert guidance on financial management, compliance, and strategic growth, ensuring they maximise the value of their digital investments with Zoho’s solutions.

Grant Thornton Bharat’s sector-specific expertise ensures tailored solutions without upfront CAPEX, while Zoho’s customisable platform enables seamless integration with existing systems. This collaboration supports faster implementation, improved efficiency, and higher ROI.

Increff promoted Vishal Raj to the position of Co-founder

Increff, a technology-driven SaaS platform specialising in inventory and supply chain solutions, has promoted Vishal Raj to the position of Co-founder.

Raj has been with Increff for over seven years, starting as one of its first engineers and growing into a leadership role in technology.

Raj will lead Increff’s AI-driven transformation to enhance inventory management and supply chain efficiency. Under his leadership, the company aims to further strengthen its platform capabilities, optimise operations for businesses, and drive long-term innovation in retail and logistics.

Increff helps fashion brands and retailers optimise inventory and accelerate sales velocity through its Omni and Merchandising platforms. Its backers include Binny Bansal, Sequoia, 021 Capital, Premji Invest, and TVS Capital Funds.

SaaS major Freshworks partners with Unisys

SaaS major Freshworks has announced a strategic relationship with Unisys, a leading global technology solutions provider, to resell the former's IT Service Management (ITSM) solutions.

This partnership underscores a shared commitment to serving the mid-market.

A global company supporting clients in more than 120 countries, Unisys serves a diverse range of industries.

Leveraging Unisys' global IT workforce and expertise in ITSM and field services, the partnership supports Freshworks' expansion while enhancing ITSM accessibility for midmarket businesses worldwide.

Freshworks’ expanding partner ecosystem—which includes over 500 active partners—continues to grow with this strategic collaboration.

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