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

From DailyHunt parent VerSe Innovation reporting its FY24 revenue figures to SaaSBhoomi launching BhoomiAI, YourStory brings you today’s headlines with the latest developments across sectors.

Featured stories

SheSparks 2025: Tackling workplace bias and championing women in leadership

To date, countless women continue to battle against biases and judgment in workplaces. But in order to break these barriers, companies need to be ready to have uncomfortable conversations and understand the impact of these biases in key decisions-industry leaders said at SheSparks 2025.

In a panel discussion at SheSparks 2025, women leaders discussed the measures that need to be in place to counter such views in the workplace. One such measure, according to Ramya Parashar, Chief Operating Officer, MiQ Digital India, would be the ready availability of good sponsors for women. “One key challenge is whether they have genuine sponsors advocating for them.

Sponsorship is crucial, especially when women are not in the room. We often talk about mentorship, but if we reflect, women tend to have more mentors than sponsors. This is a challenge men don’t typically face, as they network more, whereas women do not,” she said. Read more.

Latest news

SaaSBoomi launches BoomiAI to support AI-first founders

SaaSBoomi, the community of software-as-a-service (SaaS) founders and other software developers, has launched BoomiAI—its latest initiative to support founders building AI-first companies.

“AI is rewriting the rules of every facet of our lives–from work to play. And we refuse to be mere spectators. We are stepping into the future–deliberately, decisively, boldly. That’s why we’re launching BoomiAI, a new home for AI-first founders, where SaaS and AI are interwoven to shape the next decade,” said Avinash Raghava, CEO and Founding Volunteer at SaaSBoomi.

While several media reports said the development was a rebranding of SaaSBoomi, sources YourStory spoke to clarified that BoomiAI will specifically focus on building and expanding on the existing SaaS community. Read more.

DailyHunt parent VerSe Innovation reports 13% decline in operating revenue for FY24

Verse Innovation, the AI-driven tech company behind DailyHunt and Josh, on Wednesday said it reported a 13% decline in operating revenue for FY24.

The company said the earnings fell from Rs 1,448 crore in FY23 to Rs 1,261 crore in the last fiscal year.

Meanwhile, in a statement, the company also said it has significantly reduced its EBITDA burn by 51% to Rs 710 crore in FY24. This drop, according to the company, stems from reducing business promotion expenses by 65% to Rs 339 crore and lowering the cost of services by 16.85% to Rs 1,155 crore.

VerSe Innovation also said it is on track to achieve break-even in H2 2025, led by a combination of product innovation, AI-led automation, and revenue expansion. Its recent acquisitions, including Magzter (subscription-based content) and ValueLeaf (enterprise engagement solutions), are expected to drive monetisation and market expansion. Read more.

Datagrid set to double its workforce this year

Datagrid Solutions, an IT outsourcing and software development company, has announced its strategic plan to add 100 team members to its current headcount of 150+ team members. With this expansion, the company aims to bolster its technical and leadership capabilities, aligning with its long-term global growth strategy.

According to its hiring plan, Datagrid will focus on strengthening its senior leadership and technical expertise. It announced plans to expand its leadership team by appointing a Chief Delivery Officer and Senior Sales Manager to enhance client engagement and lead strategic initiatives. Further to meet the evolving project requirements, it will also add at least 10 Senior Full Stack Developers and additional roles.

“Our ambitious hiring plan is a testament to the momentum of our growth, and it further reflects our commitment to innovate, deliver excellence and drive transformative change in the IT landscape," said Deepak Jain, Director, Datagrid.

Funding news

Jindal Stainless picks up 9.62% stake in Amazon-backed M1Xchange in latest funding round

Gurugram-based Trade Receivables Discounting System (TReDS) platform M1Xchange has secured fresh funding in a round led by Jindal Stainless. As part of the investment, Jindal Stainless has acquired a 9.62% stake in the company, which includes both primary capital infusion and secondary share purchase.

M1Xchange, backed by Amazon, facilitates invoice discounting and supply chain financing through a digital exchange, connecting MSMEs with banks and non-banking financial companies (NBFCs). When a vendor sells goods on credit, instead of waiting for payment later, they can sell the invoice on a TReDS platform to a financier at a discount and get most of the money upfront. This helps businesses maintain cash flow while the buyer pays the financier later.

Jindal Stainless, India’s largest stainless steel manufacturer, sees this investment as a strategic move to enhance its digital supply chain financing capabilities.

GreenFortune secures $4.5M in pre-Series A round

GreenFortune, a windows and doors brand, raised $4.5 million (about Rs 39 crore) in a pre-Series A funding round led by Foundamental, with participation from Titan Capital Winners Fund and existing investors Incubate Fund Asia and others. 

The startup will use the capital to fuel national-level expansion, 6X sales volumes, and build PartnerGate—its proprietary tech platform—into a full-stack solution to improve customer service.

The company looks to increase threefold its in-house R&D/design and technical services capabilities to develop new products across various material types and become a complete solution provider for fenestration products.

“With this round of funding, the company aims to scale operations, strengthen its network of fabricators, and achieve Rs 250 crore ARR within the next two years,” said Dilip Kumar, Co-founder and CEO, GreenFortune, in a statement.

Antithesis raises Rs 5 Cr in pre-seed funding

Antithesis, an emerging beauty and personal care platform in India, secured Rs 5 crore in its pre-seed funding, co-led by Rukam Capital and V3 Ventures.

The investment will support Antithesis’s growth plans as a digital-first beauty company, furthering its product innovation, market and distribution channel expansion, while strengthening its brand presence in the personal care market. The funding will further help drive innovation in formulation to cater to the evolving needs of consumers today.

VAHDAM India raises $3M in equity funding

VAHDAM India, an Indian wellness brand, has raised $3 million in funding from SIDBI Venture Capital.

This equity raise is a strategic investment and not part of a formal funding round. The investment will further strengthen VAHDAM’s balance sheet and cash reserves. The company is also set to close the current fiscal year with strong growth and positive EBITDA.

“I am excited to welcome SIDBI Venture Capital to our capital table as we continue our journey of taking the finest Indian products to the world. The funds raised will strengthen our balance sheet and cash reserves. Over the past two years, we have focused on reinforcing our core, optimising our product portfolio, and identifying key levers for scale," said Bala Sarda, Founder and CEO of VAHDAM India.

Mila Beauté raises $2.16M in pre-Series A round led by Rukam Capital

Mila Beauté, a homegrown Indian skin-friendly colour cosmetics brand, has raised $2.16 million (approximately Rs 18 crore) in its pre-Series A funding round led by Rukam Capital. This investment values the company at Rs 303 crore and marks a significant step forward in its journey.

The freshly infused capital will primarily be deployed towards expansion and research and development. Mila Beauté aims to strengthen its core business in the colour cosmetics segment while also investing in new product development, scaling operations, and deepening its market presence. A significant portion of the funds will go into upgrading its manufacturing capabilities, focusing on maintaining high product quality with minimal external dependencies.

“Our focus has always been on creating a beauty brand that’s not just trend-driven but deeply rooted in data and consumer insight. Partnering with Rukam Capital gives us the strategic backing to scale faster, whether it's investing in our own manufacturing, developing innovative skin-friendly products, or strengthening our brand presence," said founders Saahil Nayar, Sachin Chadha and Keshav Chadha.

Pizza Wings secures additional funding of $2.8M in follow-up round

Haryana-based Pizza Wings has successfully secured fresh funding of $2.8 million in a follow-up round from marquee investors, including Gruhas—the investment arm of Nikhil Kamath and Abhijeet Pai, Udaan co-founder Sujeet Kumar, and other strategic investors. The current funding follows their previous investment in the company’s $4 million seed round in 2024.

The fresh funding will be instrumental in fueling the brand's expansion plans across India, as it aims to add 50 new stores, scaling its footprint to 100 outlets by the end of 2025.

Other news

IG Defence and Aerospace bags deal from IAF

IG Defence and Aerospace has signed a contract with Indian Air Force (IAF) where it will integrate the former’s Bluetooth Low Energy (BLE) Tool Tracking System. According to IG Defence, this system enhances the efficiency and security of tool management across airbases, streamlining maintenance operations and ensuring precise inventory tracking.

IG Defence won the Ministry of Defence's Idex Challenge for this technology. The iDEX programme provides support for prototype and research kickstart" (SPARK) grants to startups and MSMEs through Defence India Startup Challenges (DISC), offering funding up to Rs 1.5 crore (or Rs 10 crore under iDEX Prime) for innovative defence projects.

This solution will be piloted at Gwalior Airbase before its planned expansion to other IAF and Army airbases. This solution will minimise Foreign Object Debris (FOD) damage, a major safety concern at airbases.

Co-working space company 315Work Avenue adds 2 million sq ft

Co-working space provider 315Work Avenue plans to add two million square feet of workspace over the next year with an investment of around Rs 400 crore. The company is aiming to enter newer cities along with strengthening its presence in the current markets.

This growth is driven by the back of high demand for flexible spaces by corporates, and the company is looking at organic and inorganic initiatives to expand its presence. 315Work Avenue currently manages three million square feet of space, totalling around 60,000 seats across 45 locations in Bengaluru, Chennai, Hyderabad, Mumbai, and Pune.

RedBeryl enters into partnership with Tata CLiQ Luxury

RedBeryl, a luxury lifestyle management company, has entered into a partnership with Tata CLiQ Luxury. This collaboration aims to elevate the luxury shopping experience for RedBeryl Members by bringing them closer to a curated range of premium and luxury brands across various categories.

The partnership will offer RedBeryl members access to Tata CLiQ Luxury’s range of premium and luxury global and Indian brands across categories, including accessories, beauty and fragrances, eyewear, fashion, handbags, home, kids, sneakers & footwear, writing instruments, watches, and more.

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