Startup news and updates: Daily roundup (January 30, 2025)
YourStory presents the daily news roundup from the Indian startup ecosystem and beyond. Here's the roundup for Thursday, January 30, 2025.
From crypto’s changing competitive landscape amidst WazirX looking to reopen its platform next month to Flipkart introducing credit card bill payments on Flipkart Pay, YourStory brings today’s headlines highlighting the latest developments across sectors.
Featured stories:
One’s loss, another’s gain: Indian crypto exchanges race to woo WazirX users as market shakes up
Following a cyberattack in July 2024, crypto exchange WazirX is now gearing up to reopen its platform. This has resulted in its competitors racing to acquire users as the Indian crypto ecosystem shifts.
CoinSwitch, earlier this month, launched a Rs 600 crore initiative—CoinSwitch Care—for users impacted by the alleged cyberattack that resulted in the theft of over $230 million worth of digital assets.
Amid rising competition in the ecosystem, it is the users that stand to benefit—be it enthusiasts who want to begin trading or those with their funds frozen on the WazirX platform.
Latest news:
US-based tech giant Microsoft forecasted a slower growth in its cloud business amidst rising expenditure on artificial intelligence (AI), dampening investor sentiment.
Microsoft’s shares declined by about 5% in after-market on Wednesday post its second-quarter results.
However, the company reported a 12% year-on-year rise in Q2 revenue to $69.6 billion. Microsoft also saw its profits widen to $24.1 billion, up 10% from the year-ago quarter.
Meta’s Q4 earnings soar as CEO Zuckerberg hints at a ‘really big year’
Facebook parent Meta reported a surge in fourth-quarter profit and revenue, driven by strong digital advertising spend.
The California-based firm’s net profit surged 49% year-on-year to $20.8 billion, while its Q4 revenue reached $48.8 billion, up 21% from the same period last year.
For the full fiscal year, the social media giant reported a total revenue of $164.5 billion—a 22% annual growth. Its net profit for FY24 surged 59% to $62.4 billion compared to the previous year.
Funding news:
Salad Days raises Rs 30 Cr in maiden institutional funding round
Cloud kitchen brand Salad Days has raised Rs 30 crore in its Series A funding round to support its expansion plans.
The round, which marked the company's first institutional fundraising in its decade-long run, was co-led by V3 Ventures and Client Associates Alternates Fund (CAAF).
It currently operates 25 kitchens across Delhi, Mumbai, and Bengaluru. A part of the capital infusion would look at growing its penetration in existing cities across pincodes as well as innovations with an omnichannel presence adding about 20 stores by the end of this year.
The Gurugram-based company also plans to use the funds to spruce up its tech infrastructure, upskilling and expanding its team as well as marketing and branding efforts.
D2C footwear brand CHK bags funding from Accel
Dealshare Co-founder Sankar Bora’s new D2C footwear startup CHK on Thursday raised an undisclosed amount in seed funding from Accel.
The company had previously raised pre-seed funding from IPO-bound BlueStone Jewellery and Lifestyle, bringing the total amount of funding raised to $2.5 million.
Bengaluru-based CHK aims to deploy the freshly raised funds to accelerate production and strengthen its go-to-market strategy ahead of its public launch in April.
The brand will offer lifestyle footwear that targets India’s fashion-forward millennials and Gen-Z customers.
Prismoline raises undisclosed amount in funding led by Uniworth Finlease Limited
Road safety product maker Prismoline on Thursday said it has raised an undisclosed amount of funds led by Uniworth Finlease Limited and with participation from angel investors.
The company will use the newly raised funds to strengthen its working capital requirements, expand product portfolio and explore new market opportunities.
Gaming startup MetaShot raises Rs 11 Cr from Sauce.vc, others
Bengaluru-based gaming console startup MetaShot raised Rs 11 crore in a combination of equity and debt financing led by Sauce.vc, Sharrp Ventures and Panthera Peak Capital.
The newly raised funds will be used to expand its team, research & development, growth, and brand building.
In the current financial year, the company is projected to grow 5x in revenue from the last financial year.
“We’ve already seen over 8 lakh matches on MetaShot in the short span of our journey, validating the customers interest in this unique metaphysical play;” said Prince Thomas, Co-founder & CEO of MetaShot.
“Our vision for MetaShot is to become a platform that offers a diverse range of games, seamlessly merging the physical and virtual world. We thank Sauce.vc, Sharrp Ventures and Panthera Peak Capital for their confidence and commitment to supporting our vision and growth,” Thomas added.
Utsav app raises Rs 6.35 Cr in pre-Series A funding
Religion tech startup Utsav on Thursday bagged Rs 6.35 crore in a pre-Series A funding round led by Equanimity Investments.
The round also saw participation from existing investor India Quotient.
Utsav will use the newly infused fund to onboard more temples in Tier I and II spiritual hubs, strengthen its workforce, launch international services and invest in AI-driven personalisation, and real-time Pandit consultations as well as on logistics network for faster prasad deliveries.
”We are honoured to have Equanimity Investments and India Quotient as our partners in this journey. Utsav’s mission has always been to bring devotion closer to people’s lives through technology. With Maha Kumbh Mela 2025 on the horizon, we are poised to transform the spiritual experience for millions across India and the world. We also thank our angel investors in this round, Ishan Gupta & Pradumn Mohan Davey, founders of Clarity App,” said Sourajit, Founder & CEO, Utsav.
Other news:
Flipkart enables credit card bill payments on Flipkart Pay
E-commerce marketplace Flipkart on Thursday launched a credit card bill payments feature on Flipkart Pay, in an attempt to strengthen the platform’s position as a one-stop solution for payment needs.
Credit card bill payments, which emerged as a key category on Bharat Bill Payment Service (BBPS), will ease access to payment solutions for Flipkart’s customers.
“At Flipkart, we are constantly innovating to create a holistic and seamless payment ecosystem for our customers. The addition of credit card bill payments on our Recharges and Bill Payments platform reflects our commitment to becoming the preferred one-stop solution for all payment needs. With this launch, we aim to simplify bill payments for millions of users and support the rapid growth of this vital category on BBPS,” said Gaurav Arora, Vice President, Payments and SuperCoin at Flipkart.
Blinkit launches Nike gym accessories on its platform
Quick commerce startup Blinkit on Thursday said its customers can now get Nike gym accessories delivered in under ten minutes using its app.
The offering is currently available only in Delhi NCR and will be launching in other cities soon.
Quick commerce startups are increasingly bringing brand partnerships to their platforms as they look to cater to the wider needs of their users. Recently, Blinkit’s peer Zepto announced that users can purchase sports goods brand Decathalon’s products on its platform.
Scaler aims to tackle AI talent gap in India
Education provider startup Scaler on Thursday said it is aiming to tackle the artificial intelligence (AI) talent gap in India by providing upskilling program to around 3000 aspiring professionals.
Studies have indicated that only 2.5% of Indian engineers have substantial experience in AI, creating a gap between the demand for AI-skilled professionals and the available talent pool.
The Artificial Intelligence & Machine Learning (AIML) curriculum will be curated with inputs from leading tech companies and will focus on topics such as Generative AI, MLOps, and Reinforcement Learning.
ONDC and CoRover partner up to introduce Mahakumbh AI Sahayata
The Open Network for Digital Commerce (ONDC) on Thursday partnered with conversational AI startup CoRover to introduce an AI-powered assistant to guide, support, and uplift devotee experience at Mahakumbh.
The AI companion, powered by BharatGPT will be easily accessible and will provide real support to pilgrims including festival timings and emergency contacts.
T Koshy, MD & CEO at ONDC said, "ONDC is committed to leveraging technology to enhance experiences and empower people. We are excited to contribute to initiatives that make a meaningful impact and promote inclusivity for all."
ETO Motors ties up with FlixBus to enter intercity electric bus operations
Travel tech company FlixBus on Thursday partnered with mobility service provider ETO Motors to deploy four zero-emission electric luxury intercity coaches by next month.
Alongside the deployment of these buses, the partnership will also focus on integrating advanced charging infrastructure specifically tailored for FlixBus’s operational routes. A scalable strategy for future deployment of electric mobility solutions will also be developed under the memorandum of understanding.
Reid & Taylor adopts Unicommerce to integrate omnichannel approach
Apparel brand Reid & Taylor on Thursday said it has adopted Unicommerce’s multi-channel order management, warehouse management, and omnicannel retail management systems to bring about an integrated network for its customers.
The deployment Is expected to help the brand to seamlessly allow its customers to move between various offline and online channels, providing wider choice and faster deliveries.
“Unicommerce’s expertise across retail and e-commerce technology offers an in-depth understanding of a business’s operational challenges, and that is what makes it a perfect fit for our business,” said Subrata Siddhanta, CEO - Reid & Taylor Apparel.
The Derma Co launches its first brand outlet in Gurugram
Active ingredient skincare brand The Derma Co on Thursday strengthened its offline presence and launched its first brand outlet in Gurugram.
The company already has a strong presence across digital platforms, e-commerce channels, and select modern trade outlets.
The company, which is under the Honasa Consumer portfolio, offers products addressing a wide range of skin and hair concerns such as acne, hair loss, pigmentation, among others.
Epsilon appoints Pratik Nath as Managing Director of its India Global Capabilities Centre
Data and technology company Epsilon on Thursday appointed Pratik Nath as Managing Director of its India operations.
Before joining the firm, Pratik was the Vice President of India IP Development at Oracle Cerner.
“Pratik’s deep engineering background and his experience in building a culture of innovation is exactly what we need at Epsilon India to grow to the next level,” said Myron Sojka, CTO, Epsilon. “Under his leadership, we will continue the next phase of growth for our India Global Capabilities Centre where we will build deeper technical capabilities and maximize the value Epsilon delivers to our clients,” he said.
Flipkart Group receives BSI code for organisational resilience
Ecommerce platform Flipkart Group on Thursday said it was awarded the BS 65000:2022 Organisational Resilience —Code of Practice Certification for organisational resilience.
“At Flipkart, we continually strive to strengthen our operational capabilities and reinforce trust within the ecosystem. Achieving the BS 65000:2022 certification is a testament to our proactive approach to aligning with global standards, ensuring that we are not only prepared for challenges but also equipped to turn them into opportunities,” said Hemant Badri, Senior Vice President and Head of Supply Chain, Customer Experience & Re-Commerce, Flipkart Group.
Salesforce India Chairperson and CEO awarded Padma Shri
Arundhati Bhattacharya, Chairperson and CEO at Salesforce India, was awarded the country’s highest civilian award, Padma Shri.
On receiving the award, she said, “I am deeply humbled to receive the Padma Shri award, one of India’s most esteemed recognitions. This honor reflects the incredible opportunities I’ve had to contribute to India’s trade and industry. From my journey in banking to leading Salesforce India, I’ve witnessed how vision and innovation can transform lives and businesses.”
Prior to joining Salesforce, Bhattacharya was the first woman chairman of State Bank of India, a role she held from 2013 to 2017. She joined Salesforce India in 2020.
(The copy will be updated with the latest news throughout the day)