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

From Sri Lankan startup ecosystem thriving and foreseeing growth across the govtech, fintech, healthtech, biotech and deeptech sectors to former Bandhan AMC exec Piyush Anchliya joining Cashfree Payments as the CFO, YourStory brings you today’s headlines with the latest developments across sectors.

Featured stories

Sri Lanka’s startup sparkle: The pearl’s glow returns

Sri Lanka’s multi-ethnic culture, favourable geographical position, and neutral political mindset make the country a favourable land for startup innovations. Owing to its international shipping routes, starting up in Sri Lanka allows entrepreneurs to not only serve in the Pearl of the Orient but to the rest of South Asia as well. 

“We had very few homegrown tech startups before 2010. Universities lacked the entrepreneurship culture, and those who came out of degree programmes, wanted to be employed. Gradually, from 2010 to 2015-16, our startup culture changed,” says Sachindra Samararatne, Associate Chief Digital Economy Officer, ICT Agency of Sri Lanka, during a conversation with Shradha Sharma, Founder and CEO of YourStory Media.

With a population of just 2.2 crore, India’s neighbouring island country has already registered 900 startups, claims Samararatne. Read more

Meet Nasar Thootha, who runs a ‘Dress Bank’ to provide bridal outfits to underprivileged brides

For the past five years, Nasar Thootha has been running the Nasar Thootha Dress Bank, a community-driven initiative that provides free bridal wear to underprivileged women across India. Nasar collects, dry cleans, and distributes wedding outfits to brides who cannot afford them. 

From an early age, he watched his mother extend help to anyone in need—a quiet influence that shaped his lifelong commitment to service. Read more

Latest news

TapFin rolls out NBFC arm to boost green financing

Sustainable financing platform TapFin has rolled out its non-banking financial company (NBFC), GoGreen Capital, to help provide green financing as it looks to help businesses transition to renewable energy.

The NBFC, which will initially focus on clean mobility, solar, and battery circulatory sectors, will help startups, middle, small, and medium enterprises (MSMEs), and fleet operators, among others, to secure capital for sustainability driven initiatives. Read more

Cashfree Payments appoints former Bandhan AMC executive Piyush Anchliya as CFO

Digital-payments enablement startup Cashfree Payments has named Piyush Anchliya as its new chief financial officer. Anchliya brings over 15 years of experience in investment banking, corporate finance, and M&A, having held senior roles at Barclays and the IDFC/Bandhan Group.

Most recently, he served as the CFO of Bandhan AMC (formerly IDFC Asset Management Company). He holds an MBA from IIM Ahmedabad and a B.Tech. from IIT Kharagpur. Read more

Funding news

CENTA raises Rs 20 Cr in Series A1 round led by Colossa Ventures

Centre for Teacher Accreditation (CENTA) has raised Rs 20 crore in a Series A1 round of funding led by Colossa Ventures, with participation from earlier investor Discovery Assets and angel investors.

With this fundraise, CENTA expects to scale operations in India and selected international markets and enhance its technology infrastructure.

CENTA is a full stack platform for teachers, focused on teacher certification, teacher upskilling and teacher-as-a-service (providing teachers to employers for full-time and part-time requirements).

While CENTA’s largest teacher base is in India, teachers from 100 other countries are also active on the platform. There is significant participation from UAE, Nigeria, Philippines, Bangladesh and Ghana, and emerging partnerships in the UK and US.

Beverage company Rio Innobev raises Rs 10 Cr in pre-Series A round

Homegrown beverage company Rio Innobev Pvt Ltd has raised its first institutional funding of Rs 10 crore in a pre-Series A round led by Atomic Capital, and other marquee investors.

Rio Innobev is the company behind RIO Bubbly Fruit Drink and RIO BOOM Energy Drink. It is currently present in over 35,000 retail stores across more than 25 cities in Maharashtra and Gujarat. It aims to scale to i lakh outlets over the next three years, while deepening its omnichannel presence with quick commerce platforms and modern trade networks.

The fresh funds will be utilised for distribution expansion, brand building, product innovation, and manufacturing upgrades. The company aims to expand its portfolio across indulgence, health, and functional beverage segments, catering to evolving consumer preferences.

Serial Investor Nikhil Chandan's Navyug Global Ventures Invests Rs 160 M in Shrinithi Capital

Navyug Global Ventures, the investment platform founded by serial investor Nikhil Chandan, has announced a strategic investment of Rs 160 Million and another Rs 100 Million in the first quarter FY 25-26 in Shrinithi Capital Private Limited, a Chennai-based NBFC focused on commercial vehicle finance and EV Segment.

With this new investment, Shrinithi Capital Private Limited will accelerate its efforts in expanding financial access, deepening its presence in underserved regions, and driving impact-driven lending initiatives.

Shrinithi Capital, with its 50 plus branches and 600 plus on-field manpower, has been enabling access to credit for rural entrepreneurs, commercial fleet operators, and small business owners in the Used Vehicle Auto Segment through its grassroots network and sector-specific financial products.

Other news

Poonawalla Fincorp launches gold loan business

Poonawalla Fincorp Limited, an NBFC promoted by Cyrus Poonawalla Group, focused on consumer and MSME lending, has expanded its portfolio of secured lending products with the launch of a gold loan business.

This new offering aims to provide a secure, fast, and transparent financing solution for individuals and businesses, catering to diverse financial needs such as business expansion, agriculture costs, and personal expenses.

With the promise of faster approvals in less than 30 minutes, minimal documentation, and multiple repayment options, customers can unlock the value of their gold without selling it. This ensures financial flexibility while preserving long-term wealth, according to the company.

B2B ecommerce company Moglix appoints Sanjeev Arora as CFO

Moglix, a B2B ecommerce company, has appointed Sanjeev Arora as its new chief financial officer. In this role, Arora will lead the company’s financial strategy and operations, with a focus on capital planning and advancing long-term growth journey, including preparations for entry into the public markets.

With over two decades of leadership experience across listed and privately held businesses, Arora brings a diverse perspective shaped by his work in industries such as automotive, chemicals, consumer goods, telecom, and FMCG. His career spans key roles at organisations including ASK Automotive, Mosaic, Goodyear, Nokia, and Apollo International.

Tulu Health launches AI agent platform to transform patient care

Tulu Health, a healthtech and fintech startup founded by experts from AIIMS, IIT, and Stanford University, has launched what it claims to be India’s first AI agent platform and one-stop solution for all healthcare needs.

Tulu Health’s new platform provides modular AI agents tailored for both healthcare providers and patients, delivered seamlessly through platforms such as WhatsApp and hospital websites. According to the company, the platform is backed by clinical insight and cutting-edge AI technologies.

With the launch of its AI agent platform, Tulu Health aims to transform healthcare for over 10 million patients in the next three years by harnessing the power of AI to drive better health outcomes.

The launch event was held recently at Pullman Aerocity, Delhi.

Equirus Wealth launches integrated wealth-tech platform

Equirus Wealth, a wealth management firm, has launched its next-generation wealth-tech platform. Touted to be the country's first integrated wealth-tech experience, the platform combines portfolio insights, real-time analytics, and advisory tools in one place. Through this platform, the company aims to transform the way wealth is managed for India’s growing base of high-net-worth individuals (HNIs) and emerging affluent investors.

The platform offers a complete portfolio view of investments, detailed analytics, smart research reports, and smooth interactions between advisors and clients.

Generic pharmacy retail chain Davaindia unveils its ecommerce platform for Pune

Davaindia, a private generic pharmacy retail chain, has unveiled its ecommerce platform for Pune. The platform aims to strengthen its core mission of making affordable generic medicines accessible, with promises of 60-minute delivery, tech-enabled ordering, and a user-friendly experience in 14 regional languages.

DavaIndia’s app offers over 2,000 products, featuring generic medicines and affordable substitutes to branded medicines without compromising on quality. Customers can search for medicines by brand, composition, or category, upload a prescription, and get the the medicines delivered in 60 minutes. They can also pick them up from the store in 10 minutes.

BankersKlub appoints Gaurav Kathuria as head of marketing & partnerships

BankersKlub, a fintech aggregator platform, has appointed Gaurav Kathuria as its head of marketing and partnerships.

In his new role, Gaurav will take charge of the company’s marketing and partnership initiatives, driving strategies that will fuel scalable, sustainable growth for the startup. His leadership will be key in enhancing BankersKlub’s brand presence and forging high-impact partnerships to propel the platform’s expansion in the competitive fintech space.

To further accelerate BankersKlub’s growth trajectory, Gaurav will also spearhead efforts to strengthen BankersKlub’s brand presence and enhance customer engagement through integrated marketing strategies. His expertise in performance marketing, content creation, demand generation, and automation will be crucial in expanding the company's reach and fostering deeper connections with its target audience.

upGrad partners with Seed Group to drive AI-powered learning and upskilling in MENA

Edtech firm upGrad has partnered with Seed Group, affiliated with The Private Office of Sheikh Saeed bin Ahmed Al Maktoum, to drive AI-powered learning and workforce upskilling among businesses and organisations in the UAE and the MENA region.

The Mumbai-headquartered company has been investing significantly to grow its presence in international markets. It views the partnership with Seed Group as a timely opportunity to expand its services worldwide, particularly as the UAE advances its focus on innovation and diversification. Read more

Also Read

Mayank Kumar’s BorderPlus acquires German healthcare recruitment firm Onea Care

CleverTap acquires rehook.ai to strengthen AI-driven promotions and customer retention

Engagement and retention platform CleverTap has acquired rehook.ai, a Y Combinator-backed startup.

Rehook.ai offers a promotions automation solution, empowering businesses to manage coupons, discounts, gamification, loyalty programmes, and referral initiatives. This acquisition aims to strengthen CleverTap’s complete suite for customer retention, merging analytics, engagement, and promotions into a single unified offering.

With rehook.ai now part of CleverTap, brands can unlock an enhanced ability to create, distribute, track, and optimise diverse promotional campaigns, ultimately increasing conversions and improving user retention, according to a statement. Brands will also be able to address a broader range of customer needs throughout the user lifecycle—from initial acquisition and onboarding to retention and loyalty, it added.

Aaroha launches to reshape business leadership with Indian philosophy

Aaroha, the humanistic leadership project, was officially launched today to help businesses strengthen leadership and organisational capability through frameworks inspired by Indian philosophy.

Headquartered in Hyderabad, the firm has been founded by three seasoned professionals—Kalpana Sinha, former Director of People and Organisation Capability at Microsoft and Director at YSC Consulting, part of Accenture; Haritha Kandalla, a renowned executive coach with 22 years of experience, including a decade at Microsoft Global Delivery; and Ketaki Kadekar, former Insights India Head and Customer Success Director at UpGrad, and co-founder of The Leadership Project. Together, they bring over 70 years of collective experience in coaching, capability-building, and organisational transformation.

ABB India Launches AI-Powered Startup Challenge in Smart Drives

ABB India, in collaboration with Microsoft and SynerLeap, has launched the ABB Startup Challenge India 2025, calling on deep tech startups to explore AI-driven approaches for enhancing smart drive technology.

The challenge focuses on addressing common difficulties faced by OEMs and system users when working with Variable Speed Drives (VSDs). These include limited visibility into how machines interact with drives, reliance on manual inputs, and delays in commissioning and troubleshooting. By leveraging AI, the initiative aims to streamline drive and motor selection, simplify setup processes, and reduce technical bottlenecks.

Startups interested in participating can apply until April 29, 2025. The selected winner will receive a $30,000 project prize, mentorship from ABB professionals, and opportunities for international exposure through ABB’s innovation platforms.

Under the theme "Advancing Smart Drive Technology with AI Innovation," the focus is on developing advanced technologies that can simulate real-world drive performance, self-commission without manual parameterisation or input, and autonomously troubleshoot issues. Through this initiative, ABB India seeks to create a smarter, self-learning ecosystem that improves reliability, reduces downtime, and enhances the customer experience.

Uber launches free shuttles for Delhi cricket matches

Uber has launched a free Uber Shuttle Fan Bus in the National Capital for the upcoming cricket league games to be hosted at the Arun Jaitley Stadium starting Wednesday, April 16.

Uber has launched the service to provide cricket fans in Delhi-NCR an easy and convenient transport option to the stadium. Uber has deployed a total of 5 fan buses covering routes along several parts of Delhi, along with neighbouring cities of Noida and Gurugram. The buses will transport riders to and from the Arun Jaitley stadium on match days: April 16, April 27, April 29, and May 11.

Designed to complement public transportation and help fill existing transit gaps, Uber Shuttle is a safe, reliable and affordable way for people to get to and from the airport, an event venue, the office, and even around town.

Nucleus Software extends partnership with Deem Finance

Nucleus Software has extended its collaboration with Deem Finance LLC (“Deem”), a Gargash Group company and a consumer finance provider regulated by the UAE Central Bank. As part of this expansion, Deem has selected Nucleus’ flagship product, FinnOne Neo Collections, to accelerate its digital collections transformation and enhance operational efficiency.

The deployment of FinnOne Neo Collections will enable Deem Finance to: Leverage AI and Automation: Enhance collections efficiency through AI-driven analytics, intelligent customer engagement, and Auto Dialer integration, achieve Rapid Go-Live, strengthen risk management and enhance customer engagement.

IG Drones registers 330% rise in revenues for FY25

IG Drones has registered 330% year-on-year growth in revenues for FY25 to touch Rs 22.4 crore as compared to Rs 5.17 crore in FY24. Buoyed by strong demand across defence and private sectors, the company is now targeting Rs 100 crore revenue in FY26.

Founded by Bodhisattwa Sanghapriya and Om Prakash, IG Drones said the revenues for FY25 were primarily driven by defence contracts, private sector deals, and product sales, with a 60:40 revenue split between government and private sector clients. More than 200 drones were sold, marking a 300% increase over FY24, while the company’s manufacturing capacity expanded to 1,000 drones, with plans to scale up to 2,500+ in FY26.

UST opens fourth office in Bengaluru

Technology company UST has strengthened its India presence by inaugurating a fourth office facility in Bengaluru. The new office has over 300 seats. UST commenced its operations in Bengaluru in 2012, and currently, the city stands as the company’s second-largest global delivery centre, accommodating over 6,500 employees.

UST continues to expand its footprint across India. In March 2025, UST inaugurated a 1,000-seater office in Pune with plans to create 6,000 jobs in the next five years in the city. Last year, UST opened a second office in Bengaluru along with a Design Experience Centre. The company also laid the foundation for its second-owned campus in Kochi, Kerala, with plans to create 3,000 jobs over the next five years in Kochi. 

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