Startup news and updates: daily roundup (March 25, 2025)

From RevX Capital’s Rahul Chowdhury speaking about rise of private credit in India to Ecofy’s fundraise. YourStory brings you today’s headlines with the latest developments across sectors.

Featured stories 

RevX Capital’s Rahul Chowdhury on the rise of private credit

RevX Capital is carving a niche in India’s private credit market with a focused micro fund strategy, aiming to bridge the financing gap for mid-sized businesses. At a time when traditional lenders are constrained by rigid underwriting norms, alternative credit solutions are gaining traction, particularly among companies seeking non-dilutive, flexible capital.

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Funding news 

Firefly Diamonds raises $3M led by WestBridge Capital 

Lab-grown diamond jewellery brand Firefly Diamonds has raised a seed round of $3 million led by WestBridge Capital. 

The investment will accelerate the brand’s retail expansion, bolster its digital presence, and fuel R&D for new and distinctive jewellery collections. Firefly has stores across four cities currently--Mumbai, Pune, Bengaluru, and Hyderabad with plans to expand to over 20 locations within the following two years.

Ecofy secures $12.5M from IFU

Ecofy Finance Private Limited, a green-transition-focused NBFC, on Tuesday said it has secured a $12.5 million long-term loan facility from the Investment Fund for Developing Countries (IFU), a development finance institution owned by the Government of Denmark. 

Ecofy aims to address the critical last-mile climate finance gap in India's consumer, transportation and small business sectors. With ambitious targets, the NBFC plans to finance over one million electric vehicles and more than 1.5 giga watts of rooftop solar within the next six to seven years.

Care.fi raises debt from Vivriti Capital 

Care.fi, a healthcare-focused fintech startup, has secured Rs 7.5 crore in debt capital from Vivriti Capital. 

With an emphasis on claims processing and financial automation, this funding will further expand the reach of RevNow by Care.fi, its RCM (Revenue Cycle Management) platform designed to optimise hospital insurance claims and streamline revenue realisation.

The latest investment follows Care.fi's previous funding rounds, which included Rs 8 crore in debt capital raised from Wint Wealth (Ambium Finserve) and Caspian, along with $2.5 million (around Rs 21 crore) in debt from Trifecta Capital and UC Inclusive Credit. In total, the group has raised approximately Rs 29 crore to date.

Gramiyaa secures Rs 7.2 Cr in pre-Series A funding

Gramiyaa, a cold-pressed oil brand, has raised Rs 7.2 crore in an equity pre-Series A round led by Homegrown Ventures, alongside Campus Fund and Mumbai Angels. 

Gramiyaa is set to achieve Rs 36 crore in annual recurring revenue (ARR) by March 2025, further strengthening its position as the go-to brand in India’s evolving cold-pressed oil market. 

Gramiyaa is expanding its production capacity to 4 lakh litres per month, positioning itself as the largest producer in the segment. To support this growth, the company is enhancing its sourcing capabilities and streamlining manufacturing processes. 

Other news 

BharatPe NBFC receives IND BBB+ credit rating 

BharatPe’s non-banking finance company (NBFC) arm Trillionloans Fintech Private Limited (TFPL), has been awarded an ‘IND BBB+’ credit rating with a stable outlook by India Ratings & Research (Ind-Ra). 

With an expanding portfolio that includes merchant loans, MSME financing, revenue-based lending, consumer credit, and vehicle loans, the company is transforming lending by making it faster, more efficient, and accessible.

Since BharatPe’s acquisition of a 51% controlling stake in April 2023, Trillionloans has undergone expansion, with BharatPe increasing its stake to 62.2%. This investment has enabled Trillionloans to significantly scale its loan book, offering seamless and tech-driven credit solutions to merchants, SMEs, and consumers, said the company in a statement.

Quest Global announces strategic partnership with Rapidus 

Quest Global, a product engineering services company, announced the signing of a Memorandum of Cooperation with Rapidus Corporation, a Japanese manufacturer of advanced 2-nanometer (nm) semiconductor solutions.

"This partnership, based on the virtual IDM model, provides the silicon solution that companies around the world are seeking. We are honored to support the realisation of this groundbreaking initiative in Japan, where the public and private sectors are working together to achieve advanced semiconductor technologies," said Ajit Prabhu, Co-founder and CEO, Quest Global.

Twid partners with redBus to introduce reward points 

Online bus ticketing platform redBus has partnered with TWID, a rewards-based payment network, to bring the PaywithRewards feature to its customers. 

This collaboration enables redBus users to have the option to use their loyalty points to pay, either partially or fully, for their bus tickets—bringing unprecedented flexibility and affordability to intercity travel in India.

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