Startup news and updates: Daily roundup (February 13, 2025)
YourStory presents the daily news roundup from the Indian startup ecosystem and beyond. Here's the roundup for Thursday, February 13, 2025.
From a networking space for entrepreneurs to startups building solar dehydrators to reduce post-harvest loss, YourStory brings today’s headlines with the latest developments across sectors.
Featured stories
Agara Lake: Bengaluru’s newest address for entrepreneurs to network and brainstorm
It is 7 am on a chilly Saturday morning in January. A motley group of around 50 people are gathered, in a circle, at the entrance to the beautiful Agara Lake—one of the many natural lakes in Bengaluru. They are taking turns introducing themselves.
Among them is the co-founder of ride-hailing platform Rapido, an HR person from foodtech company Swiggy, a product manager at an edtech startup, the growth head of an AI company, and a CA-turned-angel investor. There is also a youngster from Sikkim exploring opportunities in Bengaluru and a filmmaker-turned-founder of a production house, besides venture capitalists from WaterBridge Ventures and 3one4 Capital.
They are all part of Agara Walks & Filter Kaapi—a community-building initiative that helps people from all walks of life connect with each other over morning walks, meaningful conversations, and piping hot kaapi.
This agritech startup has developed solar dehydrating technology
Hailing from a farming family in Rewa, Madhya Pradesh, Monika Tiwari grew up witnessing the many challenges faced by the agricultural sector. She discovered the concept of a solar dehydrator, which eventually became the foundation of her business model in a competition at the end of the Yatra.
In December 2022, she founded Khetar, a company dedicated to providing innovative, sustainable agriculture solutions.
Quick commerce concerns burn billions from Zomato, Swiggy market caps
What started as a recipe for success is now leaving a bitter taste for investors—at least in the short term. Zomato and newly-listed Swiggy are betting big on growth through quick-commerce but the spending required to ward off intense competition in the sector is spooking investors and has wiped off billions from the market cap of these two companies.
Since 2025 began, Swiggy's shares have plummeted 37% to Rs 341.40, while Zomato's stock has slumped nearly 22% to Rs 214.70 on the NSE. That's roughly $5 billion and $7 billion wiped off their respective valuations.
For Swiggy, which made its stock market debut in November 2024, the decline has been particularly steep.
ideaForge seeks to nurture an ecosystem for wider adoption of drones
ideaForge, a leading Indian drone company and the only pureplay drone company to be listed on the stock exchanges, is pushing the boundaries with respect to the use of these devices in civilian areas.
“Drones will eventually penetrate deeper, similar to other technology devices, and down to the lowest echelons,” says Ankit Mehta, Co-founder and CEO of Mumbai-based ideaForge, in an interview with SMB Story.
Maraa Collective empowers Dalit women rewrite their stories
In 2018, Angarika Guha and Anushi Agarwal listened to almost a hundred women across rural India recount their experiences of sexual and gender-based violence. Their research for a play under the Bengaluru-based media and arts collective, Maraa, soon took an unprecedented toll. As the testimonies piled up, so did their own vicarious trauma—the quiet, insidious burden of bearing witness to another’s suffering over a prolonged period.
With help from theatre practitioner Anish Victor, Guha and Agarwal processed this experience by creating a play called ‘Chu kar dekho’ (Touch and See)—based on the stories of women they had spoken to and shaped by their experiences of listening and responding to their suffering.
Funding news
Paras Defence invests Rs 10 Cr in Logic Fruit Technologies
Paras Defence has announced an investment in deeptech company Logic Fruit Technologies by acquiring about 8% stake in the company for a value of Rs 10 crore.
As per the announcement that was made at AERO India 2025, Logic Fruit Technologies will gain enhanced resources and strategic collaboration to accelerate AI-driven embedded solutions, high-speed data processing and real-time computing architectures.
The company said that this investment will further support advanced mission-critical systems, expanding the impact in next-gen radar, surveillance, and electronic warfare applications.
Other news
WazirX recovery scheme voting tentatively scheduled from March 19-28
Zettai Pte Ltd announced the voting for its Scheme of Arrangement is tentatively scheduled from March 19 to 28 this year.
The company said that this step is crucial in its restructuring process as rebalanced net liquid platform assets will be available subject to the scheme becoming effective. WazirX users can vote via the Kroll Issuer Services platform, with results assessed by Alvarez & Marsal, it added.
The scheme requires approval from a majority of Scheme Creditors and the Singapore Court. If sanctioned, the first token distribution to creditors will occur within 10 business days.
Paytm Money appoints Rajeev Krishnamuralilal Agarwal as non-executive independent director
Paytm Money, a wholly-owned subsidiary of One97 Communications Limited, appointed Rajeev Krishnamuralilal Agarwal as an additional Non-Executive Independent Director on its Board.
Agarwal is also set to serve as a member of the Audit Committee and the Chairperson of the Risk Management Committee and the Corporate Social Responsibility (CSR) Committee at Paytm Money, the company said.
He brings to the table over 40 years of experience, including a 28-year tenure with the Indian Revenue Services. During his time as a Whole-Time Member of SEBI, he played a pivotal role in driving key market reforms, including the revival package for the mutual fund industry in 2012 and the landmark merger of the Forward Markets Commission with SEBI in 2015.
Additionally, Agarwal currently serves on the Board of One97 Communications (Paytm) and holds key positions as Chairman and Independent Director at Trust Mutual Fund, and as Independent Director at ACC Ltd., Star Health Insurance, UGRO Capital Ltd., and MK Ventures Capital Ltd.
Zscaler appoints Anurup Singhal as the Head of India Commercial Business
Zscaler appointed Anurup Singhal as its Head of India Commercial Business to lead Zscaler's initiatives to secure Indian enterprises in the evolving digital landscape, the company said.
Singhal's diverse experience includes leading Digital Sales for SMB across Asia at Microsoft, and serving as Chief Revenue Officer at 92.7 Big FM, where he gained deep insights into B2B sales and media strategy.
“Our goal is to truly secure Indian businesses by leveraging Zscaler's cutting-edge cybersecurity solutions and promoting the adoption of Zero Trust architecture,” said Singhal.
IPV Ideaschool opens application for third edition of accelerator programme
Inflection Point Ventures (IPV) launched the third edition of its IPV Ideaschool accelerator. Started in January 2024, the mentorship-based programme helps early-stage startups refine ideas, build strong business models, and secure pre-seed funding of Rs 1 crore from IPV, guiding them from concept to MVP in just 8 weeks.
Startups can apply from January 28 to February 15, 2025.
Volvo Group invests Rs 1,400 Cr in Karnataka
Volvo Group signed a Memorandum of Understanding (MoU) with the Karnataka government in presence of Large and Medium Industries Minister MB Patil to set up its 4th International Manufacturing Hub in Hosakote, Bengaluru, backed by a strategic investment of Rs 1,400 crore.
The new facility is expected to create more than 2,000 direct jobs, boost exports, and enhance India's position in the global supply chain. Production capacity at the Hosakote facility is set to soar, from 3,000 to 20,000 trucks and buses annually, catering to both Indian and international markets.
4700BC aims Rs 500 Cr revenue in three years
Snacking brand 4700BC aims to clock Rs 500 crore revenue within the next three years with accelerated expansion plans having seen a 7X growth in the last four years.
As part of this ambitious trajectory, 4700BC is strengthening its leadership and operational capabilities. The recent appointment of Sreejit Madhavan Nair as CEO underscores this growth strategy, the company said in a statement.
"I am excited to lead the company in this next phase of growth, focusing on expanding our portfolio into other snacking categories and confectionery, strengthening distribution, and delivering exceptional products," said Sreejit Madhavan Nair, CEO of 4700BC.
Exotel partners with Knowmax
Exotel has partnered with Knowmax, a player in AI knowledge management. The collaboration aims to empower enterprises with seamless access to actionable knowledge, ensuring superior CX and operational excellence, the company said in a statement.
"In today’s AI-driven world, businesses require a single, cohesive platform to deliver seamless customer experiences. Exotel’s partnership with Knowmax aligns perfectly with our mission to be the AI transformation partner for enterprises. Together, we empower agents and optimize resources, ensuring businesses achieve both exceptional CX and sustainable growth," said Ishwar Sridharan, COO of Exotel
(This article will be updated with the latest news throughout the day.)
Edited by Kanishk Singh
