Startup news and updates: Daily roundup (April 2, 2025)
YourStory presents daily news roundup from the Indian startup ecosystem and beyond. Here's the roundup for Wednesday April 2, 2025.
From Atomberg surpassing Rs 1,000 crore in revenue in FY25 to the IT department rejecting a PB Fintech subsidiary’s Rs 86 crore expense claim, YourStory brings you today’s top stories.
Here’s a roundup of key stories:
Featured stores
Binance’s head of regional markets talks about the Indian crypto landscape
Binance, the world’s largest crypto exchange in terms of trading volume, re-entered India in August last year after briefly pausing activities to receive FIU-IND compliance.
In a conversation with YourStory, Binance’s Head of Regional Markets, Vishal Sacheendran, talks about the immense potential and opportunity lying in the Indian crypto landscape and how institutional investors are warming up to the digital asset class.
Luxorides drives people in style and luxury
Delhi-based Luxorides provides luxury cars on rent—from brands such as Mercedes, Audi, and Jaguar—for travel, airport transfers, film shoots, weddings, and other occasions.
Luxorides has so far managed transportation for celebrities such as Amitabh Bachchan, Akshay Kumar, Alia Bhatt, Nargis Fakhri, Ranbir Kapoor, and Deepika Padukone.
The startup provided its services at the G20 Summit in New Delhi, Anant Ambani’s wedding, and singer Diljit Dosanjh's Dil-Luminati tour as well. Cars from Luxorides can also be spotted in the movies Tamasha, Chhapaak, Fan, and Badhaai Ho, and the web series Paatal Lok and NCR Days.
Latest news
CCI clears Groww’s shareholder restructuring
The Competition Commission of India (CCI) has approved a significant restructuring move involving Billionbrains Garage Ventures Private Limited, better known as Groww.
The approval allows certain shareholders to acquire additional voting rights and authorises the issuance of bonus compulsorily convertible preference shares to all existing equity shareholders of Groww.
IT dept rejects PB Fintech subsidiary’s Rs 86 Cr expense claim
The Income Tax Department has disallowed Rs 85.6 crore in expenses claimed by PB Fintech’s subsidiary, Paisabazaar Marketing and Consulting, for the fiscal year 2023-24.
The Assistant Commissioner of Income Tax issued the order on March 31, stating that the company failed to substantiate the expenses.
“During the assessment proceedings, the Company had duly provided all the necessary documents/information against these expenses, however, AO has taken a contrary view and disallowed the same,” PB Fintech disclosed in an exchange filing.
Meta’s AI research head Joelle Pineau to step down
Joelle Pineau, Vice President of AI Research at Meta, is set to leave the company after eight years. Pineau, who leads the firm’s Fundamental AI Research group, known as FAIR, announced her departure in a LinkedIn post on Tuesday.
“After nearly 8 years at Meta, time has come to say farewell. This has been the professional experience of a lifetime! I arrived at Meta in May 2017, thrilled to be joining forces with some of the world’s best AI researchers, with the simple goal of solving AI and open-sourcing our research to accelerate innovation through the broader eco-system. Fast-forward to today, I am surrounded by the most inspiring and dedicated team, focused on our goal of achieving Advanced Machine Intelligence (AMI),” read Pineau’s post.
Funding news
Infinity Fincorp secures $40M in extended Series A round led by Beams Fintech
Infinity Fincorp Solutions, a Mumbai-based non-banking financial corporation (NBFC) specialising in microloans against property, raised $40 million in an extended Series A funding round.
The investment was led by Beams Fintech Fund, a growth-stage private equity firm, alongside existing backers True North LLP, Jungle Ventures, and Archerman Capital. The NBFC said the capital infusion aims to strengthen its loan book and expand its reach across six Indian states, particularly in Tier III towns across Andhra Pradesh, Tamil Nadu, Telangana, Madhya Pradesh, and Rajasthan.
Stance Health secures $1M pre-seed funding
Stance Health, an innovator in musculoskeletal (MSK) care, has secured $1 million in pre-seed funding. The round was led by General Catalyst, with participation from Antler, DEVC, EX Capital (Founders of Sword Health), and prominent angel investors such as Sriharsha Majety and Nandan Reddy, co-founders of Swiggy, along with Kulin Shah, Co-founder of Onsurity.
This funding will enable Stance Health to scale its structured, technology-driven MSK care model in India, addressing a traditionally unorganized market. The investment will support the development of its proprietary technology platform and the expansion of its team and multidisciplinary MSK centres across Bengaluru and other major Indian cities.
By leveraging advanced analytics and personalized therapeutic interventions, the company aims to create an integrated ecosystem that enhances the entire patient journey, from diagnosis to complete recovery.
YatriKart raises investment from McDonalds and Coca-Cola India Partner MMG Group
atriKart, India’s fastest-growing 'Retail-on-the-Go' convenience ecosystem, has secured a strategic investment from MMG Group, the Indian partner of global giants McDonald's and Coca-Cola, acquiring a stake at a valuation of Rs 100 crore.
YatriKart’s existing investors include Artha Venture Fund, Fox Software Ventures, She Capital, and Shuru Up.
This strategic partnership enables YatriKart to solidify its presence in India's rapidly growing transit retail market. With the support of MMG Group, YatriKart is preparing for a $10 million venture capital funding round to accelerate its growth.
Better Nutrition secures Rs 10 Cr funding from investors across Google, Meta, others
Better Nutrition, a Biofortified food brand, has successfully raised Rs 10 crore in its latest funding round. The investment brings together a strategic alliance of family offices, high-net-worth individuals (HNIs), and angel investors, all united by a shared vision: making nutrient-rich food affordable and accessible to every Indian household.
This round saw strong reaffirmation from early investors, with nearly 30% of the total funding coming from existing backers.
Argos Watches secures Rs 6.5 Cr in angel round
Argos Watches, the homegrown luxury watch brand, has raised Rs 6.5 crore in its angel funding round at a valuation of Rs 45 crore from a clutch of high-net-worth Indian investors.
With this fresh infusion of capital, Argos Watches is targeting to double its revenue this financial year, backed by strong demand for high-quality mechanical timepieces and a growing community of Indian watch enthusiasts. The newly secured funds will be utilised to accelerate product development, expand brand awareness, and enhance its digital presence to reach a wider audience.
Wendor raises $2.5M funding from Elanpro
Wendor, an innovator in smart vending solutions, has successfully raised $2.5 million (approximately Rs 21 crore) from Elanpro, a market leader in commercial refrigeration equipment. The investment, structured as a mix of equity (Rs 5 crore) and debt (Rs 16 crore), marks a significant milestone in Wendor’s journey toward scaling operations, enhancing AI capabilities, and expanding internationally.
As part of this strategic investment, Wendor will also receive operational support from Elanpro, enabling it to leverage an extensive service and logistics network across India. The funding will be directed toward advancing AI-powered vending technology, developing computer vision solutions, and strengthening Wendor’s market presence both in India and globally.
Fur Jaden raises Rs 9.5 Cr in pre-Series A funding from Gruhas Collective Consumer Fund
Fur Jaden, a homegrown lifestyle luggage brand, has closed its pre-Series A funding round. The brand has secured Rs 9.5 crore (approximately $1.1 million) from Gruhas Collective Consumer Fund (GCCF).
According to the company, the funding will accelerate growth by building high-calibre professional teams, amplifying brand presence, expanding product categories, and scaling omnichannel retail reach.
Bower secures Rs 11.75 Cr for entrepreneurship education
Bower, an institution working on entrepreneurship education, has raised Rs 11.75 crore in seed funding led by Astir Ventures and a group of prominent HNIs. The investment will accelerate Bower’s mission to replace outdated education models with hands-on, real-world learning—from school classrooms to executive boardrooms.
The funding will also support Bower’s expansion plans and deepen partnerships with leading universities, investors, and industry leaders as the institution continues to shape the next generation of entrepreneurs through its experiential, application-first approach.
Other news
Reliance to partner with BLAST for esports business in India
Reliance and BLAST will partner to operate and create market-leading IPs in India and bring leading global IPs of BLAST to India for fans, players and brands. BLAST works with the world’s biggest game publishers in Epic Games, Valve, Riot Games, KRAFTON, and Ubisoft to create leading global esports properties. The JV’s ambition is to attract top-tier titles and events in the future.
The strategic partnership will help to accelerate this growth by bringing BLAST’s globally recognised esports properties and production techniques to India while co-creating new tournament IPs tailored to the fast-growing gaming market.
upGrad Enterprise appoints Sunita Mohanty as revenue head
upGrad Enterprise, the corporate skilling division of upGrad announces the appointment of Sunita Mohanty as the Revenue Head, effective March 2025, to drive the next phase of market strategy & growth globally.
Mohanty, with over 25 years of experience in the IT industry, brings extensive expertise in sales, business development, delivery, and customer management across leading global technology and consulting firms. In her previous role at SAP as head of cloud success services for the Indian Subcontinent, Mohanty led a transformational journey, turning the services business into a high-performing, customer-centric, and profitable unit.
Sara Tendulkar joins JetSynthesys’ Global e-Cricket Premier Leaque
JetSynthesys, a global leader in digital entertainment and technology, is thrilled to announce that Sara Tendulkar has joined the Global e-Cricket Premier League (GEPL) as Mumbai franchise owner for its highly anticipated Season 2.
GEPL, the world’s largest e-cricket and entertainment league, is played on Real Cricket, a game that has amassed over 300 million lifetime downloads.
Since its inaugural season, the league has witnessed exponential growth, with a fivefold increase in player interest, reaching 910,000 registrations compared to 200,000 in Season 1.
Infosys, Formula E launch AI-powered Stats Center to boost fan engagement
Infosys has launched the Formula E Stats Center, developed in partnership with the ABB FIA Formula E World Championship, an all-electric FIA World Championship. The Stats Center is powered by Infosys Topaz, an AI-first offering using generative AI technologies.
This initiative marks a significant step forward in Infosys’ three-year partnership with Formula E. The Stats Center will provide fans with interactive access to stellar performances of drivers and teams, their key milestones, and compelling narratives through its Key Stats and Insights platform. It engages users by showcasing stats of drivers and teams across current and past seasons, using a trending bubble chat format that prompts engaging, curated questions. This feature makes complex data easily digestible and fosters a deeper connection between fans and the sport.
Villgro’s initiative for women micro-entrepreneurs
Villgro, a social enterprise incubator, focused on providing access to credit solutions for women micro-entrepreneurs, said it has enabled 106 women micro-entrepreneurs across India to get business loans.
According to Villgro, women entrepreneurs consistently demonstrate high loan repayment rates, putting them among the most reliable borrowers in the nation’s financial ecosystem.
Villgro has collaborated with its ecosystem partners to elevate women-led businesses in India. Some of its initiatives include: affordable credit for solar-powered income-generating opportunities and peer-to-peer lending.
(This article will be updated with the latest news throughout the day.)
Edited by Kanishk Singh
