Startup news and updates: Daily roundup (January 15, 2025)

From Assam CM Himanta Biswa Sarma's opening up about his vision for Assam to Foxtale's funding, YourStory brings today’s headlines that highlight significant developments across industries.

Featured

A conversation with IPV’s Vinay Bansal

In a candid conversation on the sidelines of an investor meet in Chennai, Bansal shared insights into IPV's journey, philosophy, and vision for the future of Indian startups. His perspectives reveal not just the evolution of a successful investment platform, but a deeper understanding of what it takes to build a sustainable startup ecosystem.

YourStory's annual funding report

In 2024, Indian startups witnessed a revival in funding, raising $13.2 billion, a 22% increase from 2023’s $10.8 billion, overcoming the ‘funding winter’ freeze. While modest compared to previous years, it was certainly a period of relief given that the ecosystem saw a 52% decline in funding in 2023 compared with 2022. 

The year began cautiously, with Q1 recording the lowest inflow at $2.4 billion, but the momentum gradually picked up, with the third quarter seeing the highest inflow at $4 billion, indicating growing investor confidence.

CM Himanta Biswa Sarma's blueprint for 'a New Assam'

A few decades ago, a sixth-grader stood in Guwahati's Judges Field and delivered his first public speech before Atal Bihari Vajpayee, not yet India's Prime Minister but already a towering personality in national politics.

That boy was Himanta Biswa Sarma, and his early political debut was symbolic of an entire generation of Assamese youth who came of age during what he calls “the most turbulent period of our history.”

Funding news

D2C skincare brand Foxtale raises $30M for market expansion

D2C skincare brand Foxtale has raised $30 million in its series C funding round from KOSÉ Corporation, and existing investors Panthera Growth Partners, Z47, and Kae Capital.

Under the partnership, KOSÉ Corporation will tap on Foxtale's expertise in D2C strategies and Indian markets while Foxtale will fuse KOSÉ’s advanced technological capabilities within R&D for product innovation.

VELOCITY.travel raises funds from angel investor Raj Shah

Travel platform VELOCITY.travel has raised funds from New York-based angel investor Raj Shah at a $10 million valuation. 

The company plans to use fresh capital to launch its platform named ZIPPY in April 2025. The company aims to ‘redefine’ corporate travel and lifestyle management globally. 

Founded in 2013, wtfares was India’s first free flight cancellation platform, offering travellers flexibility. Over the years, it expanded into holiday planning, disrupting leisure travel with smart technology solutions. 

Indian business travel today is where leisure travel was in 2004, stuck offline, but on the brink of a digital revolution with technology driving efficiency, compliance, and hyper-personalization. And with the introduction of ZIPPY, we’re taking this transformation a step further, reimagining what concierge services can be for frequent travellers and enterprises alike,” Varun Sarda, CEO of VELOCITY.travel.

In 2023, the company launched VELOCITY.travel focusing on solving the pain points of business travel, with a client portfolio spanning over 200 enterprises like Clevertap, Aries Agro Ltd, Allcargo Logistics LTD, Former NYSE PLC, and Haldirams. 

TyrePlex raises $2.4M led by PeerCapital

Business-to-business tyre marketplace TyrePlex $2.4 million led by PeerCapital.

The round saw participation from Titan Capital Winners Fund, Sattva Family Office, and existing investors, including 100 Unicorns.

The capital will be used to expand its geographic footprint into the top 25 cities across India.

“Tyre dealers who work with us generate higher demand, boost profitability and optimize working capital. With this new funding, we'll supercharge our growth and broaden our geographical footprint. We're committed to relentless innovation, delivering state-of-the-art, data-driven solutions that adapt to the ever-evolving demands of the tyre industry,” Puneet Bhaskar, Co-founder and CEO, of TyrePlex. 

Sukoon Unlimited raised $430,000 led by Anchorage Capital  Partners

Sukoon Unlimited, an age-tech startup has raised $430,000 in a pre-seed funding round from investors like Anchorage Capital  Partners(India).

The round saw participation from Dr Vinay Jain, an oncologist and philanthropist, Manish Dureja, Rahul  Dash, Prantik Mazumdar, Neeraj Sagar, and Sudhir Kamath. 

The capital will be used to enhance its platform, scale its operations, and expand its community of seniors across India. 

“I’ve witnessed how they become more emotionally vulnerable. As they age, they often seek a sense of purpose and connection, and it’s clear that those emotional needs are just as important as physical ones. This experience inspired me to create Sukoon Unlimited. By joining hands with like-minded individuals, we are working together toward a common goal—to make sure no senior has to navigate aging alone,” Vibha Singal, Founder and CEO of Sukoon Unlimited.  

OrbitAID raises $1.5M led by Unicorn India Ventures.

Chennai-based Space Tech startup OrbitAID has raised $1.5 million in a pre-seed round led by Unicorn India Ventures and saw participation from TANSIM (Government of Tamil Nadu). 

OrbitAID plans to use the funds raised to conduct an in-space demonstration of docking and refuelling operations, expand facilities for on-orbit servicing operations, advance SIDRP (Standard Interface Docking and Refuelling Port) to commercial readiness and scale team capabilities to align with upcoming projects.

GreenStitch raises $1.2M by Equirus InnovateX Fund 

GreenStitch, a sustainability-focused SaaS platform designed for the fashion and textile industry, has raised $1.2 million in seed funding led by Equirus InnovateX Fund, 

The round saw participation from Ivycap Ventures, Warmup Ventures, and Zeca Ventures.

Founded by Narendra Makwana and Arpit Samdani, the GreenStitch platform integrates directly with enterprise ERP (enterprise resource planning) and PLM (product lifecycle management) systems, consolidating information from multiple supply chain tiers, identify data gaps, and leveraging AI and machine learning to fill missing details. 

Cactus Partners leads $ 1.2M round in ParkMate

ParkMate has raised $ 1.2 million in a funding round led by Cactus Partners, an early growth-stage venture fund.

Existing investors like Venture Catalysts and the Marwah Group Family Office were also part of the funding round. 

The fresh capital will be used to expand ParkMate’s operations, boosting its business development team, and accelerate innovation in its cutting-edge parking solutions.

House of Chikankari raises funds from angel investors

House of Chikankari, a Delhi-based artisanal-led ethnic wear D2C brand founded by Aakriti Rawal and Poonam Rawal, has raised an undisclosed seed round from Tudip Ventures, Peyush Bansal (Lenskart), Manoj Meena (Atomberg), Ankit Nagori (Curefoods), Hitesh Dhingra (The Man Company), Alluvium Capital, and Aurinko Partners.

“The market for Indian crafts is highly unorganized, with most players limited to small regional stores or online platforms that often lack authenticity in sourcing and origin. At House of Chikankari, we address these challenges by directly collaborating with artisan clusters to ensure quality and authenticity. Our contemporary designs make traditional crafts resonate with younger audiences," Aakriti Rawal, Co-Founder and CEO.

Other news

Poshn appoints Anit Kunj Gupta as Finance Director 

Agritech company Poshn has appointed Anit Kunj Gupta as Senior Director - finance and accounts. 

Gupta comes with nearly two decades of expertise in financial planning, FMCG sourcing finance, and strategic advisory. He has held positions in companies like Zydus Wellness, Whirlpool Corporation, Udaan, and Carlsberg Group.

Velocity launches Shipfast to enable quicker commerce for D2C brands

Velocity, a revenue-based financing startup, has launched Shipfast, a solution designed to help Direct-to-Consumer (D2C) businesses offer faster deliveries through their own websites. 

The product enables 4-hour, same-day, and next-day shipping options, Shipfast enables quicker order fulfilment while reducing operational overheads.

“While access to capital drives 40-50% growth for D2C brands, faster deliveries can unlock an additional 30-40% growth by increasing customer conversions. Shipfast enables quicker commerce for D2C brands, strengthening direct customer relationships, boosting loyalty, and driving repeat purchase rates on their own websites. We’re excited to launch our product built in-house, and are actively looking to bolster it with potential acquisitions,” said Abhiroop Medhekar, Co-founder and CEO, of Velocity.