Startup news and updates: Daily roundup (June 16, 2025)
YourStory presents the daily news roundup from the Indian startup ecosystem and beyond. Here's the roundup for Monday, June 16, 2025.
From Meta appointing Arun Srinivas as MD and Head for India operations to Amitabh Kant resigning as G20 Sherpa, YourStory brings today’s headlines that highlight significant developments across industries.
Featured stories
Beyond the wrist: From rings to AI pendants, next-gen wearables signal a rebirth for the segment
As smartwatches lose relevance amid slowing upgrades and demand, startups are now betting on premium, solution-led wearables in a tough, price sensitive market.
The downturn in the wearables market is making way for a new category to emerge—one which is focused on solution-oriented devices over passive health data tracking. Startups are targeting deeper and specialised use-cases, in turn making the space more premium.
Smartwatches and fitbands were primarily positioned around tracking health and wellness metrics. Products were marketed with features like sleep tracking, heart rate tracking and even SpO2 tracking, which measures oxygen in the blood.
Consumers are now looking for more meaningful experiences and real-world functionality from wearables, instead of a diagnostic and tracking tool.
One for the road: How Jackit aims to transform vehicle servicing
With the power of tech-enabled solutions, Thane-based Jackit is making vehicle servicing transparent, affordable, and accessible for millions.
The name Jackit is a portmanteau, combining the words “jack”, a tool used to lift heavy loads, and “IT”, for information technology. Together, they represent a tech-enabled lifeline for vehicle repairs.
Jackit is bootstrapped with 20 lakh of the founder’s investment. The founders have reported a revenue of Rs 35 lakh in FY25 from their single service station, valuing the company at Rs 1.2 crore.
How ZOFF is modernising Indian spice industry through innovation and automation
Raipur-based ZOFF is shaking up India’s legacy spice market with smart automation, quality spices, and a consumer-centric approach.
Founded in 2015 by Akash Agrawalla and his brother Ashish Agrawalla, ZOFF started with a limited range of blended spices, and has since expanded to over 75 products and 150 SKUs across pure, blended, whole spices, and seasoning mixes. The lineup now includes plain and flavoured dry fruits, regional combo spice kits, and 5-minute gravy and marinade mixes.
Latest news
Meesho gets NCLT approval for its reverse flip from US
Prosus-backed ecommerce unicorn Meesho has received approval from the National Company Law Tribunal (NCLT) to flip its headquarters back to India from Delaware, USA, as it closes in on its IPO dreams.
According to regulatory filings, Meesho has received a clearance to demerge with its US-based entity, Meesho Inc, and will proceed to merge with the Indian firm, completing its Indian redomiciling process.
Meta appoints Arun Srinivas as MD and Head for India operations
Meta Platforms has appointed Arun Srinivas as the Managing Director and Head of India Operations, effective July 1, 2025, the tech giant said on Sunday.
In his new role, Srinivas will focus on integrating Meta’s business and revenue goals to better serve clients and partners, along with driving long-term growth in India.
Amitabh Kant resigns as G20 Sherpa
Amitabh Kant, who managed diverse assignments during his 45 years in government service, has resigned as the G20 Sherpa.
Kant, a retired 1980-batch Indian Administrative Service (IAS) officer of the Kerala cadre, was appointed as India's G20 Sherpa in July 2022, months before India assumed the G20 Presidency.
InCred Money acquires Stocko, forays into retail broking
Fintech firm InCred Money, the retail wealth tech investment distribution arm of InCred Group, on Monday said it plans to acquire South Asian Stocks Limited (SASL), which operates under the brand name Stocko.
Following regulatory approvals, the trading platform will be rebranded as InCred Stocko and integrated into InCred Money, the group's digital wealth and investment platform, the company said in a statement.
JIIF invests in Rs 350 Cr consumer-focused fund by Atomic Capital
Investors from the early-stage network JIIF have committed Rs 26.5 crore to Atomic Capital’s Rs 350 crore debut fund, marking one of the group’s largest collective investments in the consumer-focused venture capital space.
Atomic Capital, a newly launched VC firm, is focused on backing digital-first consumer brands, wellness products, and regionally relevant ventures. The significant participation from JIIF members signals growing conviction in India’s next consumption wave, driven by rising aspirations beyond metro cities and an expanding D2C ecosystem.
Funding news
Nuvie raises $450,000 in pre-seed funding led by PedalStart
Bengaluru-based F&B start-up Nuvie has raised $450,000 in its maiden pre-seed funding round, led by start-up accelerator PedalStart.
The round also saw participation from several entrepreneurs and angel investors, including Mukesh Bansal (Founder of Myntra, Cult.fit, and Nurix), Ayyappan R (Founder and CEO, FirstClub; ex-CEO, Cleartrip), Chanakya Gupta (Co-Founder, Tuco Kids; ex-SVP, Flipkart), and Arun Sharma (Co-Founder and CPO, Qlub UAE).
Other news
Magenta Mobility appoints Nand Kumar Sharma to lead charging infrastructure projects
Magenta Mobility has appointed Nand Kumar Sharma as Head – Charging Infrastructure and Projects. With over two decades of experience in infrastructure and operations, Sharma will drive the company’s nationwide strategy and execution across Real Estate, EPC (Engineering, Procurement, and Construction), and Operations to accelerate the growth of Magenta’s EV charging ecosystem.
Before joining Magenta Mobility, Sharma held leadership roles at Bharati Infratel, Tower Vision, Summit Digitel, and recently with BluSmart Mobility. His appointment comes at a strategic time as Magenta Mobility enters its next phase of expansion in sustainable, tech-enabled transportation.
Sonova Consumer Hearing India appoints Saahil Kumar as general manager for the Sennheiser consumer business in India
Audio specialist Sonova Consumer Hearing Business has announced the appointment of Saahil Kumar as the General Manager for its Sennheiser Consumer Hearing Business in India.
As the general manager of Sonova Consumer Hearing India, Saahil will provide strategic leadership to drive business growth through the development of impactful go-to-market and locally relevant product strategies.
Nucleus Software appoints Aabhinna Suresh Khare as chief marketing officer
Nucleus Software said it has appointed Aabhinna Suresh Khare as its new Chief Marketing Officer (CMO).
This appointment reflects Nucleus Software’s continued investment in strategic brand leadership at a time when AI, digital experience, and trust-driven communication are defining the next era of enterprise engagement.
Innoterra appoints Avinash Kasinathan as group co-CEO
Swiss-Indian food and agri-tech platform Innoterra has announced the appointment of Avinash Kasinathan as Group Co-Chief Executive Officer. He will work alongside Group CEO Pascal Foehn, and will be focused on driving the company’s next phase of expansion, with a sharpened focus on scaling India’s role as a key growth and innovation hub within Innoterra’s global operations.
With Avinash’s appointment, Innoterra is reinforcing its leadership team at a critical juncture, as the company prepares for a potential public listing within the next three years.
Avinash's appointment as Group Co-CEO signals India's rising strategic importance in Innoterra's global growth strategy as both an innovation hub and export base. As India emerges as a critical engine for food innovation, sourcing and sustainable supply chains, the company is reinforcing its commitment to build world-class, tech-driven food ecosystems from this market outward.
Nazara Publishing launches Pokerverse VR
Pokerverse VR, an immersive multiplayer poker experience for Meta Quest and Apple Vision Pro, is now available worldwide. Developed by Hyderabad-based studio YesGnome and published by Nazara Publishing, this marks Nazara’s debut in Virtual Reality/Metaverse gaming.
Featuring real-time multiplayer, natural VR controls, and AR/VR flexibility, Pokerverse VR allows players to step into a futuristic poker lounge or bring the game into their real-world environment.
Telangana govt and PhysicsWallah sign MoU to provide Rs 300 Cr of free educational resources
The Government of Telangana and PhysicsWallah (PW) have signed a landmark Memorandum of Understanding (MoU) to provide Rs 300 crore worth of free educational resources to students in Grades 9–12 across the state from 2025 to 2029.
Under this initiative, students will gain access to live classes, localized online content aligned with the state curriculum, and AI-powered tutors for real-time doubt resolution. For Classes 11 and 12, the focus will be on competitive exam preparation, including NEET and JEE.
(This article will be updated with the latest news throughout the day.)
Edited by Jyoti Narayan