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

From venture capital firm Lightbox's investment thesis to ice cream brand Hocco raising $20 million to expand production capacity, YourStory brings today’s headlines that highlight significant developments across industries. Here’s a roundup of key stories:

Featured Stories

Product, profit, returns: How Lightbox is looking to hand-pick its future portfolio companies

The Indian startup ecosystem went from having 500 DPIIT-recognised startups in 2016 to nearly 1.6 lakh startups as of January 15, 2025. Amid the rising demand for capital, new and old venture capital firms are deploying India-focused funds to back the new-age companies. 

However, spoilt for choice, VC firms are increasingly focusing on one aspect while looking for their next big bet—product differentiation. According to Lightbox’s Managing Director and Partner, Sandeep Murthy, this is the company’s focus while writing cheques. 

Lightbox is no stranger to making risky bets—some, like Cleartrip and Info Edge, gave them successful exits— while others like Dunzo and WayCool have proven to be tougher. But this is simply a part of a VC's role in the startup ecosystem. “To fund entrepreneurs, you have to be a little crazy,” Murthy says. 

How Astroyogi is blending AI, ecommerce, and spiritual services

Once limited to newspaper horoscopes and early-morning TV segments, astrology has undergone a transformation. In today’s digital world, it is no longer just about reading your daily horoscope—it’s about live consultations and curated spiritual experiences.

Leading this trend is Astroyogi, a Gurugram-based startup that is reimagining how ancient astrology wisdom fits into today’s modern lives. Founded by Meena Kapoor and her son, Aditya Kapoor, the platform connects users across the world with expert astrologers, and also provides a marketplace for spiritual products.

In December 2024, Aditya Verma joined the company as co-founder and Chief Growth Officer (CGO). Verma previously had a short stint with Astroyogi as Senior Product Manager in 2018-19.

This multimedia movement is transforming India’s conversation around desire

About a decade ago, filmmaker and writer Paromita Vohra found herself on the lookout for “a language for sexuality that was Indian, contextual, affectionate, and pleasurable—one that would create a dynamic sense of autonomy to overcome fear and shame around the subject.”

In 2015, Vohra started Agents of Ishq (AOI)—a pioneering arts-based initiative that utilises various media forms of engagement such as videos, comics, podcasts, and articles—to present comprehensive sex education and narratives around intimacy and relationships.

Drawing from her background in feminist filmmaking and collaborations with organisations like Bumble and Majlis Law, a Mumbai-based legal and cultural resource centre that focuses on women’s rights, Vohra’s vision was to create content that was rooted in Indian cultural contexts and personal experiences.

Latest News

Indian Renewable Energy Development Agency files bankruptcy application against Gensol

Indian Renewable Energy Development Agency (IREDA) has filed an insolvency application against troubled Gensol Engineering over a default of Rs 510 crore. The plea was filed under Section 7 of Insolvency and Bankruptcy Code, 2016.

According to an interim order published by the Securities and Exchange Board of India (Sebi), Gensol had borrowed Rs 977.75 crore from IREDA and Power Finance Corporation (PFC) for purchasing 6,400 EVs for BluSmart, a ride-hailing company co-founded by the Jaggi brothers.

However, Gensol was found to have procured only 4,704 EVs. Additionally, state-controlled PFC said it has filed a complaint with the Economic Offences Wing against Gensol, regarding the company’s promoters submitting fabricated documents to rating agencies.

Read more here.

Zepto launches Atom, a subscription-based data insights tool

IPO-bound quick commerce unicorn Zepto on Wednesday unveiled Atom, a data insights tool designed for consumer brands. Built in-house and powered by analytics, Atom will be offered as a subscription-based add-on to the existing Zepto Brand Portal.

The tool will offer brands a hyperlocal view of their performance on the platform down to the last pin code. The tool will also provide live performance metrics like sales, customer impressions, conversions, etc.

Zepto did not disclose the pricing for the subscription, which is expected to go live on Friday, May 16.

Read more here.

Funding News

Hocco raises $10M in Series B round to support expansion

Ice cream brand Hocco has raised $10 million as part of a $20 million Series B funding round to expand its production capacity and broaden its geographic footprint, the company said on Thursday.

The round was co-led by the Chona Family Office, which founded Hocco and has prior experience in the Indian food and beverage industry, and Sauce VC, a consumer-focused venture capital firm led by Manu Chandra. The remainder of the $20 million Series B round is expected to close later this year.

The funding will increase manufacturing output, expand distribution networks, and support entry into new markets across India.

Read more here.

Naptapgo secures Rs 2 Cr funding in pre-seed round from Inflection Point Ventures

Naptapgo, a pod hotel startup, has secured Rs 2 crore funding in pre-Seed round from Inflection Point Ventures. The funds will be used to drive growth across key areas like franchise development, marketing, technology enhancements, and developing innovating techniques to enhance customer experience.

This investment will accelerate Naptapgo’s expansion across urban and religious hubs to offer flexible accommodations at affordable prices. The startup operates in the NCR business city vertical and will expand to religious cities like Katra and Amritsar in FY26, aiming to reach 20 properties by FY27, according to a statement.

"Our goal is to be a significant player in the $1300 billion global hotel market, starting with India, and to redefine the perception of the Indian affordable hotel segment. Customer experience remains our key differentiator as we strive to create value for both our franchises and shareholders," said Nitin Malhotra and Himanshu Shukla, Co-Founders of NapTapGo.

Cryptique raises investment to bring Marketing Intelligence to the Web3

Cryptique, an intelligent analytics and attribution platform for Web3 businesses, has raised an angel round from a clutch of leading entrepreneurs and investors across India, UAE and USA to accelerate product development and team expansion.

The raise follows the company’s participation at Token2049 Dubai, one of the largest global Web3 gatherings.

With the new capital, Cryptique plans to accelerate the development of its suite of AI agents - cutting-edge AI analytics that deliver comprehensive, end-to-end marketing insights and strategic intelligence. The company is rolling out alpha versions of its product, launching targeted community initiatives, and driving adoption through high-impact campaigns. The funding will support its deeper commitment to decentralization and protocol alignment.

MedVital raises Rs 8.4 Cr in pre-seed funding

Med-tech startup MedVital has raised 8.4 crore in pre-seed funding in a round was led by Nihar Parikh’s 4point0 Health Ventures, with participation from a marquee group of operator-investors, including founders of Tata 1mg, NephroPlus, SafeExpress, Eye Q Hospital, Hexa Health, and AstroTalk.

MedVital focuses on building an integrated platform for complex wound care and minimally invasive aesthetics. Its flagship brand, NoWound, is a state-of-the-art Negative Pressure Wound Therapy device designed to offer precision-controlled healing across hospital, clinic, and home-care settings.

"We are building a full-stack platform that integrates clinically proven devices, intelligent monitoring, and next-generation biomaterials to transform how complex wounds are treated and how patients recover. Our goal is to become a trusted partner for specialists restoring a patient’s skin, preventing diabetic amputations, or helping individuals regain confidence through aesthetic enhancements, our mission is simple: to make advanced solutions accessible and fairly priced for everyone. This funding allows us to accelerate that mission, strengthen our infrastructure, and scale with purpose," said Dr. Varun Gupta, Co-Founder and CEO of MedVital.

Other News

Instamart to deliver products from Home Centre in just 10 minutes

Quick commerce platform Swiggy Instamart has announced the onboarding of Home Centre, one of the country’s leading chains in home and kitchen retail. With this collaboration, Instamart will deliver Home Centre’s extensive product range to customers' doorsteps in under 10 minutes.

Starting this week, over 120 premium yet affordable products will be available for Instamart users across Bengaluru, Mumbai, New Delhi, and Gurgaon. The assortment includes daily kitchen essentials, serveware and glassware, dining sets, smart home organisers, and home décor items such as table lamps, clocks, and more.

"Instamart is committed to expanding the boundaries of quick commerce. This partnership with Home Centre is a step towards delivering not just essentials, but high-quality lifestyle products on demand—instantly enhancing the homes and lives of our users," said Amitesh Jha, CEO, Instamart.

The Derma Co. and Zepto partner to bring Summer Relief to Jaipur’s Delivery Heroes

Skincare brand Derma Co. has partnered with Zepto to provide essential summer skincare to Zepto’s delivery partners in Jaipur. In a city where desert heat can be especially harsh on the skin, this initiative aims to protect and uplift those who form the city's hyperlocal delivery ecosystem.

“Through our partnership with Zepto, we’re proud to help the delivery partners who work tirelessly in challenging weather conditions,” said Snigdha Anand, VP – Marketing, Honasa Consumer Limited.

“We’re committed not just to fast deliveries, but also to the safety and wellbeing of those who make them happen. Every store has a designated rest area for delivery partners—with drinking water, hydration-focused refreshments, washrooms, and charging ports. Our partnership with The Derma Co. helps us take this one step further by protecting our partners during the harsh summer months,” said Vikas Sharma, Chief Operating Officer, Zepto.

foundit Appoints Binita Agarwal as Chief Financial Officer

Jobs platform, foundit has announced the appointment of Binita Agarwal as Chief Financial Officer. In her new role, Binita will lead the Finance & Accounts function across all regions, playing a pivotal role in shaping foundit’s long-term financial vision and supporting its growth strategy.

A Chartered Accountant with over 15 years of experience, Binita brings expertise across finance, compliance, investor relations, and business strategy. She has previously led finance functions at AppsForBharat (SriMandir), Headout, and HungerBox, and held early career roles at Goldman Sachs and EY.

“Joining foundit at this time offers a unique opportunity to contribute to its continued momentum,” said Binita. “I look forward to working closely with the leadership team to drive disciplined growth, enhance financial agility, and create new opportunities for operational excellence.”

Zoho deepens AI-powered capabilities in CX platform, launches Ulaa Enterprise

Zoho Corporation has announced deep AI integrations within its CX platform and the launch of Ulaa Enterprise, a secure, enterprise-ready version of its privacy-first browser. The expansion of generative AI and work orchestration capabilities within the company's Customer Experience (CX) platform, help remove technological barriers to CRM adoption. On the other hand, Ulaa Enterprise addresses the security and compliance needs of modern workplaces. 

"In order to provide a great customer experience, multiple people in an organisation are involved. Yet, only a few have access to the necessary customer data, which is typically stored in a CRM. With CRM for Everyone, we are democratising not just access to CRM, but also empowering users from different functions to efficiently and effectively serve their customers. With Zia, they can easily add functionalities they need with simple text prompts and make their system look however they want with image to design function,” said Mani Vembu, CEO, Zoho

.

The deep Zia integration in the CX platform includes report creation with Ask Zia, an agentic capability that allows the user to create a report using a prompt.

API Holdings deploys IBM Instana tech platform

API Holdings Limited, the digital healthcare platform and the parent company of the entities owning brands such as PharmEasy, Thyrocare, and Retailio has announced their collaboration with IBM to harness the power of AI-driven automated observability to proactively manage their application stack using IBM Instana.

According to a statement, with IBM Instana, API has deployed full-stack, real-time observability across its complex microservices architecture, ensuring rapid incident detection, accelerated root cause analysis, and continuous performance optimization for its consumer and enterprise applications. This has resulted in up to 30% reduction in Mean Time to Resolution (MTTR) for issues, improved developer productivity, and created a scalable observability foundation for future growth of their application landscape.

Capgemini, Nasscom Foundation trains 700 disadvantaged youth in AI skills

Capgemini, in collaboration with the Nasscom Foundation, has announced that it has certified more than 700 disadvantaged youths through their AI for Skilling programme. This partnership aims to help expand the pool of AI certified professionals in the country.

Implemented in Delhi NCR and Bengaluru, the programme is designed to provide a 200-hour training, comprising over 140 hours of technical training and more than 60 hours of soft skills development. The initiative builds on Capgemini Digital Academy programme, which trains thousands of youths across India in high-demand digital skills, creating opportunities for careers in technology. The Academies focus on skilling, upskilling, and future-ready employability, aiming to prepare learners with both the knowledge and competencies needed for securing work. 

BIAL partners with KPMG in India for GenAI 

Bangalore International Airport Limited (BIAL) has engaged with KPMG in India to harness the capabilities of Generative AI (GenAI). This partnership aims to redefine airport operations, enhance efficiency, and establish new global benchmarks in aviation by leveraging pioneering GenAI models within a flexible and adaptable architecture.

Further, the partnership aims to deliver a cutting-edge GenAI platform, specifically tailored to BIAL’s operational ecosystem. By processing and analysing vast datasets in real time, powered by a highly flexible and efficient technology stack, the platform aims at enabling smarter decision-making that generates predictive insights that could aid in the delivery of adaptive solutions that evolve with operational demands. Its ability to recognise patterns and forecast trends could empower airports to proactively anticipate and mitigate disruptions, helping ensure smoother operations and greater resilience.

Credifin introduces new product

Credifin Limited (earlier PHF Leasing Limited), an NBFC headquartered in Jalandhar, has announced the launch of its new product - EV Startup loans that will be available to any individual or company that wants to start a dealership or electric vehicle related business.

Under the EV StartUp Loans product, Credifin will provide the EV Entrepreneur loans up to Rs 50 lakh to begin with and can be hiked on a case-to-case basis. Credifin has over 100 existing OEM partnerships across e-rickshaw, L5 and EV two-wheeler segments. In addition, the scheme will also provide trade advance for the dealership to acquire the vehicles to be sold by them. Credifin will also offer financing of the vehicles to the end customer.

Cybersecurity Kaspersky highlights offline threats for Indian computer users

Cybersecurity company Kaspersky said Indian computer users remain vulnerable to offline, on-device threats such as USB drives and removable media, despite growing awareness around online cybersecurity. It has detected 11,692,851 on-device threat incidents in India during the first quarter of 2025. Around 17.8% of users encountered threats that originated from offline sources like USB drives, CDs, and other removable devices.

The Q1 2025 data shows that worms, file viruses, and malware delivered via removable media continue to compromise systems across the country. This persistent issue points to a gap in security practices among users, especially when it comes to safeguarding against physical and offline vectors of infection.

Aequs’ new CEO for aerospace division

Aequs Limited, the aerospace precision component manufacturer, has announced the appointment of Jean-Michel Condamin, as Chief Executive Officer (CEO) of the Aerospace Division.

Jean-Michel Condamin brings global experience across diverse industries, including aerospace, commercial and industrial motors. Prior to joining Aequs, he served as CEO of the Commercial & Industrial Motors Division at Nidec Motor Corporation. He also had leadership roles at Zodiac Aerospace, Galleys Europe and Cabin Branch.

(The copy will be updated with the latest news throughout the day)