Startup news and updates: Daily roundup (June 10, 2025)

From ride-hailing company Rapido planning to raise Rs 125 crore from US-based venture capital firm Nexus Ventures to CRED raising $72 million in fresh funding from multiple investors, YourStory brings today’s headlines that highlight significant developments across industries.

Here’s a roundup of key stories:

Featured stories

Ahmedabad-based Goodlii is giving India’s salon industry a makeover with AI

When searching for a salon near their home in South Bhopal in 2022, Abhinand Pandya and his wife, Nirali, realised that while the area had over 10 salons, there was no easy way to compare services or prices.  

“That’s when I realised no app does for salons what Zomato and BookMyShow do for restaurants and movies respectively,” says Abhinand Pandya, Co-founder of Goodlii. In February 2023, Pandya joined hands with Kahaan Vasa to launch Goodlii, a B2B2C platform that caters to salons and their customers.  

The Ahmedabad-based startup, which derives its name from the word "good-looking”, is now helping digitise salons across India, making operations smoother for owners and experiences better for customers. Read more.

Apple unveils biggest cross-platform software redesign at WWDC 2025

Apple unveiled a first look at the future of its software at its Worldwide Developers Conference (WWDC). This time, users globally are either excited or feeling a bit of apprehension, as the company rolls out its biggest design overhaul in years. 

Apple’s new software design with “Liquid Glass” is described by CEO Tim Cook as “Expressive. Delightful. But still instantly familiar.” Liquid Glass is a translucent, adaptive material that responds to light, motion, and context. 

It works on everything from small UI elements to system-wide features, like the Lock Screen and Control Centre. Redesigned controls, toolbars, and navigation elements adjust dynamically to user interaction, creating a more fluid and intuitive experience. Read more.

Walmart is upbeat about Flipkart and PhonePe: CFO

Flipkart parent Walmart sees strong growth for its Indian ecommerce arm, despite pressure on the bottom line. "Our Flipkart business continues to have really strong growth. We've invested a little bit more in that business, certain aspects of their product offering this year, which have contributed a little bit of pressure to the bottom line, but the top line has been doing really well," said John David Rainey, Executive VP and CFO at Walmart, at the 2025 Oppenheimer Consumer Growth and E-Commerce Conference. 

Flipkart, through Flipkart Minutes, has been doubling down on quick commerce, resulting in significant expenditure, given the competitive nature of the segment. The company plans to open 800 quick commerce dark stores by the end of the year. Read more. 

Funding news

Rapido to raise Rs 125 Cr from Nexus Ventures

Ride-hailing company Rapido will raise Rs 125 crore from US-based venture capital firm Nexus Ventures as it looks to chart its entry into the food delivery space and set up a fintech unit. 

According to a filing with the Registrar of Companies (RoC), the company’s board has passed a resolution to issue 23,872 Series E Compulsorily Convertible Preference Shares of face value of Rs 10 each for cash at a premium of Rs 52,457 per share, each at an issue price of Rs 52,467 per share for a total value of Rs 125.2 crore. 

The company last raised Rs 250 crore from global technology investor Prosus in February this year. The company had also raised $200 million in September last year, from a group of investors, including WestBridge Capital and Nexus Venture Partners, at a unicorn valuation. Read more.

CRED raises $72M from GIC, RTP, and others

Fintech unicorn CRED has raised $72 million (Rs 617 crore) in fresh funding from multiple investors. According to RoC filings, Singapore’s sovereign wealth fund GIC led the round through its Lathe Investment arm with an investment of $41 million (Rs 354.4 crore). 

Other participants included RTP Global with $8.75 million (Rs 74.9 crore), Sofina Ventures with $3 million (Rs 25.8 crore), and QED Innovation Labs—the family office of CRED Founder Kunal Shah—which invested $19 million (Rs 162 crore).   

The round will come at a sharp reset in the company’s valuation, from $6.4 billion in 2022 to a reported $3.5 billion, sources familiar with the development told YourStory. Some of the other prominent backers include Peak XV Partners, Ribbit Capital, Tiger Global, and DST Global. Read more.

Wow! Momo secures Rs 85 Cr debt investment from Stride Ventures

Wow! Momo Foods has raised Rs 85 crore in debt from Stride Ventures to support the company's expansion across formats. Sagar Daryani-led Wow! Momo Foods plans to boost its omnichannel strategy across the dine-in, delivery, and FMCG verticals. This is expected to build its homegrown brands Wow! Momo, Wow! China, Wow! Chicken, and Wow! Kulfi.

The company is also looking to scale its FMCG vertical to Rs 100 crore and expand its HoReCa (hotels, restaurants, and catering) arm this year. Read more.  

Flick TV raises $2.3M in seed funding led by Stellaris Venture Partners

Micro-drama OTT platform Flick TV has raised $2.3 million in seed funding led by Stellaris Venture Partners, with participation from Gemba Capital and Titan Capital.

The startup will use the funds to scale content production, release over 100 original titles across genres, and expand into four additional regional languages.

Flick TV offers micro-dramas and engaging stories under five minutes made for vertical viewing. The platform’s offerings are primarily positioned between traditional OTT platforms and short-form user-generated content apps.

Other news

upGrad appoints Ferzad Palia to head new D2C business

Edtech major upGrad appointed Ferzad Palia to set up and head its new Direct-to-Consumer (D2C) initiative. 

Palia brings over 25 years of experience in consumer tech, media, and advertising. He was most recently Senior EVP at JioStar (formerly Viacom18), where he played a key role in building and scaling JioCinema. Before that, he led several strategic initiatives at Viacom18, including its D2C business, international distribution, and the Youth, Music & English content portfolio.

"It strengthens our mission to own the entire learning journey and turns skilling into a household habit, not just a job-switch trigger. Ferzad’s deep expertise in building high-scale, high-engagement content-driven platforms will help us unlock a wider segment—combined with tech that appeals to their fast-learning patterns,” said Ronnie Screwvala, Co-founder and Chairperson, upGrad.

The Man Company partners with Unicommerce 

Emami-owned men’s grooming brand, The Man Company, has partnered with Unicommerce to streamline its ecommerce operations and enable quick commerce fulfilment for its premium range of men’s grooming products.

"Indian men are becoming increasingly conscious about their appearance, paying more attention to personal grooming. With the growing consumer demand for such products, an enhanced customer shopping experience with seamless order fulfilment and delivery becomes a prominent factor beyond the quality of the product,” said Zairus Master, CEO of The Man Company.

Greaves Electric Mobility Appoints Vikas Singh as Managing Director

Greaves Electric Mobility Limited, the e-mobility division of Greaves Cotton Limited, appointed Vikas Singh as its new Managing Director, effective June 2, 2025.

Singh, an alumnus of FMS, University of Delhi, has held leadership positions in various Indian and multinational organisations.

“In line with our long-term strategic vision and continued focus on strengthening leadership for future growth, the Board of Greaves Electric Mobility Limited has approved the appointment of Mr. Vikas Singh as Managing Director, effective June 2, 2025,” said the company in a statement.

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