Startup news and updates: Daily roundup (April 25, 2025)
YourStory presents the daily news roundup from the Indian startup ecosystem and beyond. Here's the roundup for Friday, April 25, 2025.
From Medikabazaar's former CEO's side of the story to PB Fintech's latest health bet, YourStory brings you today’s top stories.
Featured stories
'Never had a chance to defend myself’: Medikabazaar's Vivek Tiwari speaks out on governance and whistleblower allegations
"This feels like a corporate coup.” That’s how Vivek Tiwari describes his dramatic fall from the top at Medikabazaar, the healthtech startup he co-founded and steered through the chaotic highs of the COVID-19 boom.
Medikabazaar has been engulfed in controversy. A whistleblower complaint triggered a forensic audit, allegedly revealing red flags—phantom inventory, fictitious transactions, and potential related-party dealings. PwC, the company’s auditor, resigned. Investors launched an internal cleanup.
In an exclusive interview with YourStory, Vivek Tiwari offers his first detailed account since his removal as the CEO. He opens up about the audit, whistleblower allegations, and the subsequent internal power struggles. Read more.
Top stories
PB Fintech invests Rs 539 Cr in healthcare vertical, dilutes ownership
PB Fintech, the parent company of Policybazaar, has invested Rs 539.4 crore in its healthcare subsidiary, PB Healthcare Services, marking the beginning of a larger Rs 1,461.6 crore seed funding round that includes external investors.
PB Fintech had earlier announced plans to invest Rs 696 crore in PB Healthcare Services, its dedicated healthcare arm, to accelerate growth in the sector. The move had been approved by the company's board in a meeting held in March 2025, according to a regulatory filing. Read more.
Funding news
Snacking startup phab bags $2M in seed fundraise
Nutritionist-led snacking brand phab raised $2 million in seed fundraise in a round led by OTP Ventures. The round also witnessed participation from Capri Global, Sim&San Law, and angel investors.
Launched in 2022 by Gayatri and Ankit Chona—the duo behind beloved brands like Hocco Ice Cream, Huber & Holly, and Hocco Eatery—the company plans to use funds for launching new products, capex investments, team building, and strengthening its online and offline presence.
The company offers a high-protein, better-for-you snacking portfolio that includes milkshakes, wafers and energy bars.
Finvolve and India Accelerator invest Rs 2.5 Cr in Paramount
AI-powered insuretech service provider Paramount Services has raised Rs 2.5 crore from Finvolve and India Accelerator.
Paramount, which offers AI-powered assessment of motor insurance claims, plans to use the funds to strengthen its proprietary software, enhance digital claims management capabilities, and expand its presence in India.
Other news
Omega Seiki places Rs 50 Cr order with Ergon Labs for its IPC technology
EV manufacturer Omega Seiki has collaborated with Ergon Labs to integrate the latter's integrated power converter (IPC) into its electric three-wheelers. IPC is a component that combines the onboard charger and motor controller into a single compact unit, elevating performance and reliability.
Uday Narang, Founder and Chairman of Omega Seiki, has also made a strategic investment in Ergon Labs and is expected to join Ergon’s advisory board.
Nextiva expands Bengaluru technology centre
Nextiva, a unified customer experience management technology company, opened a new centre in Bengaluru—the largest facility for Nextiva outside the US—which will focus on developing the company’s next-generation platform capabilities and product innovation. Nextiva has around 300 employees and plans to hire another 150.
“The next era of customer experience technology is being built in India,” said Tomas Gorny, Co-founder and CEO of Nextiva. “This isn’t just about expansion, it’s about acceleration. Our teams in India are building foundational AI technologies that will redefine how businesses connect with their customers globally. This is where category-defining innovation is happening.”
According to a statement, India now leads several key areas of Nextiva’s product roadmap. A major new AI-led CX innovation, set to launch globally later this year, has been primarily developed in India. Nextiva’s India-based team is deeply embedded in its core platform development, which currently supports over 10 billion customer interactions annually across 100,000+ global businesses.
NISHE integrates Print2Block’s blockchain platform
The National Institute of Safety Health and Environment (NISHE), an industrial safety institute, has deployed DocChain.io by Print2Block to integrate blockchain technology into its certification process. This collaboration marks a significant milestone, ensuring NISHE’s safety certifications are tamper-proof, instantly verifiable, and highly secure, reinforcing trust, transparency, and efficiency for its students and industry partners.
According to a statement, with the integration of DocChain.io by Print2Block, NISHE eliminates the risks of fraudulent certifications and cumbersome manual verification. Blockchain technology ensures that every issued certificate remains immutable and instantly verifiable, reducing administrative burdens and streamlining hiring processes for organisations.
Britannia Marie Gold announces second season of Her Start-Up Show
Britannia Marie Gold has announced the launch of Season 2 of Her Start-Up Show, launched in partnership with GroupM Motion Entertainment and Mindshare. The national reality series is dedicated to women entrepreneurs across India to showcase their ideas.
The show is the culmination of the Britannia Marie Gold Her Start-Up Contest, launched in July 2024, which saw participation from over one lakh aspiring women entrepreneurs across India. From these, over 100 women underwent professional training, with 40 moving to the shortlisting stage.
Every participant stands to receive Britannia Marie Gold Grant or mentorship, besides national visibility and ecosystem access. The top 10 performers will win the Rs 10 lakh Golden Grant, while the other promising women entrepreneurs will gain entry into the NSDC Women Entrepreneurs Mentorship Programme.
(This article will be updated with the latest news throughout the day.)
Edited by Suman Singh