Startup news and updates: Daily roundup (March 10, 2025)
YourStory presents the daily news roundup from the Indian startup ecosystem and beyond. Here's the roundup for Monday, March 10, 2025.
From the protein infused staples trend to Paytm ESOPs, YourStory brings you the latest updates from the Indian startup ecosystem.
Featured Stories
Whey ahead: Brands fortify staples with protein power as consumers turn health-conscious
Protein powders and bars have long been a mainstay among the fitness community, especially regular gym-goers who are focused on building up muscle mass.
However, in recent years, there has been a growing cognisance within the general public about protein deficiency, even in groups that don’t actively track calories and use protein for post workout muscle repair and growth.
This has prompted a slew of products from new-age D2C brands as well as legacy players to cater to the growing need for protein-infused products outside of the usual bars and powders.
“Post-COVID, Indian consumers are being more health conscious with consumers looking at what they eat, how much they eat. In this noise of carb intake and fat content, protein emerges as a sort of knight in shining armour, with no particular cons, just upsides. This has given rise to, what we like to call ‘proteinification’ of our foods,” says Nikunj Biyani, Co-founder of SuperYou.
There has been a lot of learning from the cyberattack for us: WazirX’s Nischal Shetty
Cryptocurrency exchange WazirX is preparing to resume its operations. However, its return rests in the hands of its creditors. Between March 19 and 28, about four million WazirX users will be eligible to vote on a third-party platform, Kroll Issuer Services (KIS), for the recovery scheme as the crypto exchange looks to make a comeback after a cyberattack.
Independent assessor, Alvarez & Marsal will evaluate the results.
The cyberattack, which happened on July 18, 2024, saw assets worth $234.9 stolen from the platform. This January, the US, South Korea, and Japan agencies made a joint statement, pointing to North Korea’s Lazarus Group as perpetrators of the cyberattack.
Meanwhile, in India, a man was arrested in relation to his involvement in the case, YourStory had exclusively reported.
This startup serves sharp insights and graphics to help athletes and sports academies up their game
A couple of years ago, PhD researchers Shyam Sivaramakrishnan and Shankar Sivaramakrishnan were at the Squash World Cup in Chennai, churning valuable insights backed by high-quality visuals for broadcast.
They were integrating motion graphics with real-time data to display statistics such as shot types, error rates, and hand usage—in a sophisticated manner never seen before in professional squash broadcast.
After the event, many broadcasters and event organisers approached them, eager to bring the same level of visual appeal and data-driven insights to smaller sporting events, in an affordable way.
In the fast-paced world of competitive sports, data is a gold mine, and proper use of it can open a window of opportunity for sportspersons, training academies, and sports leagues to up their game.
Top stories
Paytm allots over 84,000 shares under Employee Stock Option Plans
One 97 Communications Ltd, the parent company of fintech giant Paytm, has allotted 84,793 equity shares to its employees under its stock option schemes, according to a regulatory filing on March 9, 2025.
The allotment includes 84,377 shares under the 2019 Employee Stock Option Scheme (ESOP) and 416 shares under the 2008 plan. Employees exercised their vested options at an exercise price of Rs 9 per share, with Rs 8 being the premium.
Employee Stock Options (ESOPs) are company-granted rights that allow employees to buy shares at a fixed price after a vesting period, while Employee Stock Purchase Plans (ESPPs) enable employees to purchase company shares at a discounted price, often through payroll deductions.
The company has been navigating regulatory scrutiny and market competition, making stock-based compensation a key tool to incentivize talent.
Zomato shareholders approve rebranding corporate entity as Eternal
Zomato Ltd has secured shareholder approval for a special resolution to rename the company as Eternal Ltd. The change, however, applies only to the corporate entity and will not affect the Zomato brand or app, the company clarified in a stock exchange filing.
Beyond the name change, shareholders also approved amendments to the company’s Memorandum of Association (MoA) and Articles of Association (AoA) to reflect the new identity. The approval followed a postal ballot, as outlined in the company’s letters dated February 6 and 7. A scrutinizer’s report published on March 9 detailed the voting outcomes.
The move signals a strategic shift for the company as it continues to evolve within the competitive food delivery and technology space. The board of directors had initially approved the name change on February 6, pending shareholder and regulatory approvals.
Funding News
FemiSafe bags Rs 3 Cr in seed funding
Women wellness and hygiene brand FemiSafe, raised Rs 3 crore in its seed funding round led by Tom M Joseph of Jain University.
Joseph had participated in the brand’s previous pre-seed round with Kerala Angel Network , Jess of Lunar Family Office, BeyondTeQ Ventures ( Oman) , and Musthafa Koori from Black Pepper Holdings also participated in this round .
The company plans to use the fresh capital to enhance its product development, strengthen supply chain, and expand market presence, it said. Additionally, the brand plans to expand into QCommerce, launch new products, and invest in research and development (R&D) to further innovate in the ‘femtech’ space.
Its products include menstrual care, grooming, and intimate care solutions. “Our commitment extends beyond products; it’s about cultivating a culture of awareness and education around menstrual and sexual health. This investment enables us to scale our impact and continue making a meaningful difference in the lives of women everywhere,” said Naseef Nazar, Co-Founder of FemiSafe.
Make in Box bags $260,000 in Pre-Series seed funding
DeepTech startup Make in Box (MIB) raised $260,000 in a pre-series seed funding round led by Mile Deep Works and its affiliate, Mile Deep Capital.
The company, which specialises in agritech and Industry 4.0 smart factories, plans to use the fresh funds to enhance decentralized supply chains and develop mobile smart factory technologies, including its flagship product, "Mfreezer," it said.
Additionally, the company said that the investment will enable the development of AI-integrated smart manufacturing units and mobile solar plants to support micro-factories, fostering greater efficiency and sustainability.
Through its “Factory as a Service” model the company caters to industries including auto ancillary, aerospace, defense, construction, inland fisheries, and farming.
Other News
Zaggle signs strategic agreement with Strada
B2B SaaS fintech company Zaggle Prepaid Ocean Services Limited partnered with Strada, which offers payroll, HCM and financial management solutions.
The partnership comes with the aim to deliver a unified payroll and spend management solution that simplifies employee benefits for employers in India, the company said.
“For employers in India, managing employee expenses and payroll is an extremely complex process, requiring extensive manual administration. Our agreement simplifies this by providing an integrated solution to manage all employee expenses and benefits, integrated with payroll, offering centralized visibility and spending control,” said Avinash Godkhindi, Managing Director and CEO, Zaggle.
According to the company, the integrated solution automates employee expenses, reimbursements, and benefits, to ensure accurate payments and streamlined tax benefits with minimal manual effort.
Indian gaming federations introduce code of ethics for responsible play
India’s leading gaming industry associations have introduced a joint ‘Code of Ethics’ (CoE) to set responsible gaming standards for skill-based real-money gaming operators in the country.
The framework released by the All India Gaming Federation (AIGF), the Federation of Indian Fantasy Sports (FIFS), and the E-Gaming Federation (EGF) outlines responsible gaming policies, third-party audits, and reporting mechanisms intended to promote user safety and industry accountability.
The initiative comes amid increased regulatory scrutiny and concerns regarding illegal offshore gaming platforms.
The Code of Ethics includes measures such as age verification, KYC requirements, and user-defined spending limits. Gaming operators with annual revenues of Rs 100 crore or more are expected to comply within six months, while smaller operators have nine months.
(This article will be updated with the latest news throughout the day.)
Edited by Jyoti Narayan
