Startup news and updates: Daily roundup (May 6, 2025)
YourStory presents the daily news roundup from the Indian startup ecosystem and beyond. Here's the roundup for Tuesday, May 06, 2025.
From Ather Energy's much-awaited public debut, to Cashfree Payments next phase of growth, YourStory brings you today’s top stories.
Featured Stories
Wayfair growth mantra for India GCC: Focus on both new and experienced talent
US-headquartered Wayfair took only two years to turn its India GCC in Bengaluru into an important contributor to their operations. The online home decor and furniture retailer established its GCC in India in April 2023.
Wayfair’s India Technology Development Centre (TDC) plays a cross-functional role, contributing to nearly all aspects of the company’s global business rather than being limited to a specific domain. This has positioned the Bengaluru centre as a high-impact arm of Wayfair’s global operations.
Latest Stories
Ather IPO: IIT Madras bags 40X gains on EV-maker’s listing
EV-maker Ather Energy’s listing on the public bourses saw its shareholders who participated in the offer for sale (OFS) walk away with handsome gains. IIT Madras is one of the biggest gainers from Ather's public debut.
IIT Madras, through its incubation arms IITMS Rural Technology and Business Incubator and IITM Incubation Cell, saw a staggering 40X return by selling 4,191 equity shares. Internet Fund III, managed by Tiger Global, offloaded 400,000 shares and walked away with Rs 13.1 crore, marking an 8.5X return on its investment. Meanwhile, the National Investment and Infrastructure Fund (NIIF) earned a 78.5% return, taking home Rs 86.4 crore.
Tackling fake Aadhaar cards and cross border payments: Inside Cashfree’s next phase of growth
Bengaluru-based fintech giant Cashfree Payments is doubling down on AI-driven fraud prevention and cross-border solutions as part of its ambitious three-year plan to dominate India’s digital payments ecosystem. At the heart of this strategy is artificial intelligence—both a tool and a challenge.
Cashfree Co-founders Reeju Datta and Akash Sinha tell YourStory that their “moonshot” priorities include scaling Secure ID, a fraud-detection suite, and capturing cross-border payment flows—both seen as high-margin engines for the payments pioneer.
Funding News
Nawgati bags $2.5M in pre-series A round
Fueltech platform Nawgati has raised $2.5 million in a funding round led by Ajay Upadhyaya, with participation from Deepak Bhagnani Family Office, MeitY Startup Hub, Aamara Capital.
The pre-series A round also witnessed participation from angels including Sanjay Sharma (former MD, Accenture), Ashish Sharma and Prithvijit Roy (founders, BRIDGEi2i), and Vivek Mathur (former Partner & COO, Elevation Capital).
The funds will support Nawgati’s international and domestic expansion plans. The company is also expanding its fleet solutions, currently deployed with Mahanagar Gas, to other major fuel companies.
Nawgati is a fuel and mobility tech company that offers a platform called Aaveg, which connects fuel stations, fleet operators, and consumers to improve fuel network efficiency.
Troovy raises Rs 20 Cr in a round led by Fireside Ventures
Nutrition brand Troovy has raised Rs 20 crore in its pre-series A funding round led by Fireside Ventures, along with participation from Sharrp Ventures, Spring Marketing Capital, and Veltis Capital.
"While developing our nutrition thesis, we identified children's nutrition as a significant whitespace in the market. Unlike adults, who have access to various food formats to meet their daily nutritional needs, mothers often seek simple, everyday food options to support their children's health," says Ankita Balotia, Vice President at Fireside Ventures.
Founded by Aditya Mukherjee and Mansi Baranwal, the product range offers healthy snacks, including high-protein chips and puffs, protein instant pasta, protein vermicelli, immunity-boosting sauces and spreads, and multi-millet protein milk mixes.
Insurance Samadhan raises Rs 8.5 crore
Insurance grievance redressal platform, Insurance Samadhan has raised Rs 8.5 crore in a strategic funding round backed by a group of family offices.
The company plans to use the capital to strengthen its technology infrastructure and expand its offerings.
Founded in 2018, so far Insurance Samadhan has raised over USD 4.58 million from investors including Equanimity Investments, 100 Unicorns, Venture Catalysts, and IIFL Finance.
Korean skincare brand KorinMi raises pre-seed funding
Gurugram-based Korean skincare clinic KorinMi has raised an undisclosed pre-seed funding round from a group of angel investors including Vikas Agarwal, former CEO of Kaya Skin Clinic UAE, and Vivek Kumar, CEO of Venture Garage.
The funds will be used to strengthen technology, expand marketing efforts, and build a D2C line of Korean skincare products tailored for Indian consumers.
Founded in 2024, by Reshbha Munjal and Jenovia Daun Jung, KorinMi offers personalized treatments using Korean 3D skin analysis technology and dermatologist-approved protocols. The company claims it has become operationally profitable within six months of launch and currently runs two clinics in the Delhi-NCR region.
The company plans to expand to 25 locations across major Indian cities over the next three years and has entered the D2C segment with five homecare products.
Other News
CaptainBiz launches Bill2Pay for MSMEs
Fintech-SaaS platform CaptainBiz has launched Bill2Pay, a new feature designed to simplify payment collections and cash flow tracking for small businesses.
The feature integrates invoice generation with secure digital payment links, enabling MSMEs to collect payments and reconcile them in real time through a single, streamlined system.
The feature is currently available to CaptainBiz web users and will be launched on mobile apps soon.
Kuhoo Finance appoints Vineet Mahajan as CFO
RBI-licensed NBFC Kuhoo Finance has appointed Vineet Mahajan as its Chief Financial Officer (CFO) to strengthen Kuhoo’s financial governance frameworks.
As CFO, Hajan will lead long-term strategies to strengthen Kuhoo’s liability franchise through co-lending and securitization models. He will also focus on driving sustainable profitability and preparing the company for future IPO plans.
Dream Sports collaborates with Microsoft for gaming market
Dream Sports has announced a gaming collaboration with Microsoft at the World Audio Visual & Entertainment Summit (WAVES) 2025 in Mumbai.
The two companies signed a memorandum of understanding to explore opportunities in India’s gaming market, including publishing Microsoft’s gaming titles in the region and introducing AI-led gaming experiences.
As part of the partnership, Dream Sports and Microsoft will work to expand gaming access and innovation for Indian users. The collaboration aims to leverage Dream Sports’ user base of 250 million and Microsoft’s technical and AI capabilities to develop tailored gaming solutions.
CyberPowerPC Partners with Orangutan to power a new esports arena
CyberPowerPC India has partnered with esports organisation Orangutan to equip ApeCity, a new esports arena in Navi Mumbai, with high-performance gaming PCs.
The facility, launched by Orangutan, aims to provide competitive players and casual gamers with access to top-tier gaming systems and infrastructure.
The arena features CyberPowerPC’s custom-built rigs, along with PlayStations, a Sim Racing setup, and dedicated zones for tournament viewings and community engagement.
(The copy will be updated)
Edited by Affirunisa Kankudti