Startup news and updates: Daily roundup (June 11, 2025)

From MS Dhoni-backed Garuda Aerospace boosting its Series B round to debt collection technology platform Credgenics clocking in robust FY25 revenue growth, YourStory brings you today’s top stories across sectors.

Featured stories

How Uttarakhand overtook Himachal Pradesh

Given identical incentives under a central industrial package, Uttarakhand and Himachal Pradesh made radically different choices in 2003—one State bet big on planned industrial estates. Two decades on, the results are striking.

Read more here.

Meet Typof, the startup making it easy for SMEs to have an online presence

Bengaluru-based Typof, founded in 2021 by Trilochan Parida and Divya Mallick, lets SMEs build websites at affordable rates, so they can enhance visibility, drive traffic, and grow their business.

Read more here.

Latest news

Credgenics clocks robust revenue growth, eyes acquisitions

Despite challenges in the personal lending sector, debt collection technology platform Credgenics has clocked a robust revenue growth in FY25 and is poised for expansion and acquisitions.

The Noida-based company clocked a revenue of Rs 220 crore in FY25, growing 42% from Rs 155 crore in the previous year. It also reported a profit before tax of Rs 25 crore for the fiscal year.

Read more here.

Funding news

FlexiLoans raises Rs 375 Cr in Series C funding round

SME lending platform FlexiLoanshas raised Rs 375 crore in its Series C funding round, led by existing backers Fundamentum, Accion Digital Transformation, Nuveen, and Maj Invest.

The round also saw participation from new investor British International Investment(BII), the UK’s development finance institution.

Read more here.

PowerUp Money raises $7.1M in seed funding

Wealthtech startup PowerUp Money on Wednesday has raised $7.1 million in a seed round co-led by Accel, Blume Ventures, and Kae Capital.

The funding attracted additional investment from 8i Venturesand DeVC, alongside several other angel investors.

Read more here.

MS Dhoni-backed Garuda Aerospace boosts Series B round with $1M infusion

MS Dhoni-backed drone startup Garuda Aerospacehas secured an additional $1 million in its ongoing Series B round, with new investment from Narotam Sekhsaria Family Office and existing backer We Founder Circle.

This million-dollar infusion follows a Series B funding of approximately $12 million (Rs 100 crore) led by Venture Catalysts, which the Chennai-based firm raised a few months ago at a valuation of $250 million.

Read more here.

Lighthouse Funds invests Rs 300 Cr in Knest Manufacturing

Growth-stage private equity firm Lighthouse Funds on Wednesday has invested Rs 300 crore in construction technology company, Knest Manufacturing, as demand for modern construction solutions rises in India.

Knest specialises in next-generation building systems, which include aluminium frameworks and patented hydraulic safety screens.

Read more here.

MetaShot raises Rs 2 Cr from Karnataka govt’s venture fund

Bengaluru-based console gaming startup Gillidanda Tech, known for its flagship brand MetaShot on Wednesday raised Rs 2 crore via convertible debt from KITVEN (Karnataka Information Technology Venture Capital Fund).

The newly raised capital will be used to drive growth and support market expansion.

Also Read

Vecmocon closes $18M in Series A funding round

Other news

Pixxel signs agreement to develop Hyperspectral and MWIR Payload for IAF

Space tech startup Pixxel on Wednesday signed a second agreement with the Innovations for Defence Excellence (iDEX), Ministry of Defence.

This new grant will support the development of advanced Hyperspectral and MWIR (Mid-Wave Infrared) payloads, tailored for the Indian Air Force.

Apna.co launches AI-powered interview prep tool

Jobs platform Apna.co launched an AI-powered interview prep tool that aims to bridge the gap in today’s job market.

The tool currently offers AI interviews for over 25,000 job roles across 3,000 top companies, featuring questions tailored to specific companies and specific job profiles, including both behavioural and technical rounds. The AI personalises the interview based on your resume just like how an actual interview occurs.

Veranda Learning consolidates operations of four key verticals

Education company Veranda Learning has unbundled and is re-building operations of four key verticals, namely academic, commerce, government test prep and vocational training.

A sub-committee has been set up, primarily consisting of independent directors to study and make appropriate recommendations to the company’s board including merger or demerger of its key verticals.

The proposed restructuring is expected to help provide liquidity, fast-track growth, and ensure critical business verticals are made debt-free.

Collective Artists Network launches India’s first bilingual AI travel influencer

Collective Artists Network on Wednesday launched Radhika Subramaniam, the country’s first AI travel influencer.

The virtual creator is the latest to join the firm’s growing universe. Previously the firm had introduced a millennial AI personality, Kavya.

Snap Inc to launch immersive Specs in 2026

US-based Snap is launching lightweight immersive Specs in 2026. Specs are an ultra-powered wearable computer integrated into a lightweight pair of glasses.

Snap’s Specs are positioned to understand the world through advanced machine learning, bring AI assistance into three-dimensional space, enable shared games and experiences with friends, and provide a flexible and powerful workstation for browsing, streaming, and more.

Policybazaar becomes official partner for Harvard Business School’s Global Capstone Project

Policybazaar has joined a cohort of 156 global companies across 14 countries as a project partner for Haravard Business Schools’ Global Capstone course. As part of this collaboration, the company hosted a team of HBS students in Delhi-NCR for a week-long immersive engagement.

During their time in India, the Harvard students engaged deeply with Policybazaar’s leadership and on-ground teams. The collaboration allowed them to first-hand experience the dynamic and evolving landscape of India’s fintech ecosystem.

The FIELD Global Capstone is designed to strengthen students’ ability to navigate diverse business environments.

Artha Bharat launches fund for NRIs to invest in US stock market

Alternative investment firm Artha Bharat, backed by fund managers Sachin Sawrikar and Nachiketa Sawrikar, has launched the Artha Global Multiplier Fund designed for non-resident Indians, overseas citizens of India (OCIs), and persons of Indian origin (PIOs)

The new fund is a long/short hedge fund that will help investors gain strategic exposure to US equity markets. This is one of the first offshore dedicated funding being launched and managed from GIFT City by any International Financial Services Centres Authority registered fund management entity.

The new fund will focus on six major US market themes of technology and retail, consumer staples and discretionary, artificial intelligence and innovation, financial services, healthcare and biotechnology, and renewable and clean energy.

Sujay Choubey steps down from Peak XV Partners

Sujay Choubey has stepped down from Peak XV Partners (formerly Sequoia Capital India) and said in a LinkedIn post that he will be joining agentic AI startup Composio.

Choubey joined the venture capital firm four years ago and was part of the firm’s investment team, often working on deals made in the AI segment, which includes Attentive AI, Enterpret, and RapidCanvas, among others.

The move comes as India’s largest VC firm continues to see a string of top and mid-level exists. Most recently Suraj Agarwalla, Vice President with the Growth team at Peak XV Partners, left the venture capital firm.

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