Startup news and updates: Daily roundup (August 13, 2025)

From QSRs expanding onto retail shelves to StudioBackdrops equipping India’s creators with professional gear, YourStory brings you today’s headlines with the latest developments across sectors.

Featured stories

Why are QSRs building their brands on retail shelves

Bengaluru-based Boba Bhai, which operates over 50 bubble tea outlets across the country, launched its range of ready-to-drink canned bubble teas in May earlier this year. 

Boba Bhai isn’t alone. Frozen momos from Wow! Momo and coffee roasts from Blue Tokai have found their way to quick commerce platforms. These quick-service restaurant (QSR) brands are not only competing with products from legacy firms but also creating new categories, especially in niche areas like Korean food and artisanal coffee. Read more.

StudioBackdrops is equipping India’s creators with pro gear

Just a few years ago, microphones, gimbals, backdrops, ring lights, and reflectors were relegated to professionals in the photography and film industries. But with the growing internet access and the post-2020 boom in the creator economy, that has quickly changed. 

According to a recent Qoruz report, India’s creator economy has grown by 322%, from 962,000 influencers in 2020 to over 4.06 million in 2024. Recognising this shift, Prime Minister Narendra Modi recently announced the beginning of India’s ‘Orange Economy’, rooted in content, creativity, and culture. Read more.

Latest news

Bluestone IPO gets oversubscribed 2.53X on final day, led by QIB bids

Omnichannel jewellery retailer Bluestone’s initial public offering (IPO) was subscribed 2.53 times on Wednesday afternoon, the third and final day of bidding. 

Qualified institutional buyers (QIBs) led the demand, with their portion oversubscribed 4.08 times. The IPO saw strong traction from QIBs since day one, reversing the typical trend where institutional participation peaks closer to the close of the offer. Read more.

AI unicorn Fractal Analytics files DRHP for Rs 4,900 Cr IPO

AI and analytics solutions provider Fractal has filed its draft red herring prospectus (DRHP) with markets regulator SEBI to raise up to Rs 4,900 crore ($590 million) through an initial public offering. 

According to the DRHP filed on Wednesday, the public offering will include a fresh share issuance of Rs 1,279.3 crore, alongside an offer-for-sale (OFS) amounting to Rs 3,621 crore from existing investors Quinag Bidco (managed by Apax Partners), TPG Fett Holdings Pte, and GLM Family Trust. Read more.

Niyo buys Kanji Forex

Travel-focused fintech platform Niyo has acquired Kanji Forex, one of India’s oldest money changers, to strengthen its position in the foreign exchange market. 

The company has also appointed veteran banker Amit Talwar as chief executive officer of its forex business, which will operate as Niyo Forex (Powered by Kanji Forex Pvt. Ltd.). Read more.

Jio enters tax filing market with budget plans

Jio Financial Services has launched a tax planning and filing module on its JioFinance app, starting at Rs 24 for self-service options, intensifying competition in India’s online tax solutions market. 

The feature, developed in partnership with TaxBuddy, offers both self-service and expert-assisted filing, as well as tools for comparing tax regimes, mapping deductions, and evaluating housing rent allowances. Read more.

StampMyVisa buys Kunal Shah-backed travel tech startup Teleport

StampMyVisa, an AI-driven B2B visa platform, has acquired travel tech startup Teleport to strengthen its presence in South India and scale its consumer reach. The financial details of the deal were not disclosed. 

Teleport is backed by prominent Indian startup founders, including CRED’s Kunal Shah, Meesho’s Vidit Aatrey, and RedBus co-founder Phanindra Sama. Read more.

Funding news

Avendus Fund leads Rs 300 Cr investment in Aragen Life Sciences

Avendus Future Leaders Fund III, the flagship private strategies vehicle of Avendus Group, has led a Rs 300 crore ($36 million) investment in Aragen Life Sciences, one of India’s largest contract research, development, and manufacturing organisations (CRDMOs). The deal, done in partnership with SBI Life Insurance, involves the acquisition of a minority stake. 

This is the second investment from the fund’s third vintage, following its earlier backing of La Renon Healthcare in 2025. Avendus did not disclose the size of its stake in Aragen. Read more.

Arintra raises $21M in series A round led by Peak XV Partners

Arintra, a GenAI-native medical coding platform, has raised $21 million in Series A funding. The round was led by Peak XV Partners and included participation from Endeavor Health Ventures, Y Combinator, Counterpart Ventures, Spider Capital, Ten13, and several other investors. 

The company will use the funding to fuel product development, expand adoption across the US health systems and physician groups, and scale its team. It also plans to open a new Bay Area headquarters to support its growth plans. Read more.

Olee Space bags $3M from Rockstud Capital, global investors

Olee.space, a homegrown developer of laser-based communication and photonics defence systems, has raised $3 million in seed funding from domestic and international investors, including Rockstud Capital.

Founded by IIT Bombay alumnus James Solomon and engineer Suman Hiremath, Olee.space is developing quantum-encrypted laser communications and directed energy weapon systems. With over five years of R&D, Olee.space has completed multiple field deployments and is now set to scale production, advance quantum-secure communication protocols, and further develop its directed energy weapon systems.

Comminent raises $2M from Transition VC

Comminent, a deep-tech communications startup developing device-agnostic IoT infrastructure for smart cities and utilities, has raised $2 million from energy transition-focused fund Transition VC.

The funding will support its expansion in India’s smart metering rollout and in applications such as smart lighting, water metering, and infrastructure management. With the new funding, Comminent will expand hiring, enhance manufacturing automation, and build strategic inventory to meet demand quickly.

Founded by Amarjeet Kumar and Vikas Kashyap, Comminent addresses a key challenge in large-scale smart infrastructure: reliable, interoperable, standards-based last-mile communication.

Its solutions include RF mesh modules, edge gateways, and a network management stack. The platform integrates across device types and utility systems, offering flexibility and faster deployment for developers, DISCOMs, and OEMs.

Cureous Labs secures Rs 1.66 Cr in seed round

Cureous Labs, a medical technology startup focused on enhancing patient care and nursing efficiency, has secured Rs 1.66 crore in seed funding from Inflection Point Ventures, with participation from Anthill Ventures.

The funds will be used to produce Cureous’ first Eturnal units, build inventory, expand sales and business development, launch its first disinfection centre, complete safety testing, and grow its B2B product range across India.

Cureous Labs’ devices are in use across hospitals, rehabilitation centres, and home care settings, with over 30,000 hours of operation and more than 14,000 automated patient turns. The company is currently conducting B2B and B2C sales and rental pilots across South India.

ZenZebra raises undisclosed pre-seed funding led by Rukam Capital

ZenZebra, a retail startup that converts everyday physical spaces into curated shopping destinations, has raised an undisclosed sum in a pre-seed funding round led by Rukam Capital.

The company plans to use the funding to expand across urban India, integrating shopping experiences into high-traffic locations such as co-working spaces, gyms, hotels, and educational campuses.

Other news

InMobi expands into Lucknow

InMobi has opened a new technology centre in Lucknow, integrating the city into its global innovation network.

The Lucknow technology centre will focus on advancing work in generative AI, machine learning operations, automation, and large-scale AI infrastructure.

InMobi plans to hire around 500 deep-tech engineers, product specialists, and data science professionals for the centre over the next few years. The investment is expected to create more than 3,000 direct and indirect jobs in the region.

Motilal Oswal MF joins ONDC

Motilal Oswal Asset Management Company has joined the Open Network for Digital Commerce to enable transactions via the platform and has appointed Cybrilla to provide its backend infrastructure.

The Open Network for Digital Commerce (ONDC), an initiative of the Department for Promotion of Industry and Internal Trade, Ministry of Commerce, seeks to create an interoperable open network for digital transactions.

Through ONDC, Motilal Oswal Asset Management Company aims to make mutual fund investing more accessible by establishing a digital distribution channel.

The open protocol is intended to widen access to mutual funds, including for first-time investors, and to encourage broader participation in financial markets by using India’s digital public infrastructure.

ProcMart appoints Ashutosh Dhar as CBO

ProcMart, a B2B marketplace for indirect procurement, has appointed Ashutosh Dhar as Chief Business Officer.

At ProcMart, he will lead business expansion, develop new revenue streams, strengthen partnerships, and grow the company’s presence in sectors and markets including Southeast Asia. He will also oversee business development, sales, and client management teams, and work to enhance enterprise procurement processes.

Dhar has held senior roles in global organisations and brings extensive knowledge of the supply chain ecosystem, with over 20 years of experience in supply chain, procurement, distribution, and business strategy.

Before joining ProcMart, he held senior roles at ITC Limited, Nokia, Accenture Strategy, and Becton Dickinson.

Astrophel Aerospace signs MoU with IN-SPACe

Astrophel Aerospace, a Pune-based space technology startup, has signed a framework MoU with IN-SPACe, the Department of Space’s nodal body.

The MoU allows Astrophel to work with ISRO experts under a Joint Project Implementation Plan for project-specific support, design validation, and testing.

The agreement provides access to ISRO facilities for technical reviews, system testing, and qualification of components for its semi-cryogenic propulsion systems, including turbopumps and engine modules.

Infosys acquires 75% stake in Australian firm for $153M

Infosys, a leading Indian technology services company, will acquire a 75% stake in Versent Group, a subsidiary of Telstra of Australia, for 233.3 million Australian dollars ($153 million). The transaction will see Telstra retaining 25 percent stake in the company.

Versent Group provides cloud and digital services with customers across the segments of government & education, financial institutions, energy, and the utilities sector. According to a statement, this partnership will Infosys and Versent Group jointly providing AI-enabled cloud and digital solutions for Australian businesses.

This collaboration will leverage Infosys Topaz and cloud offering Infosys Cobalt, as well as cybersecurity capabilities. In 2024, Infosys had announced a multi-year collaboration with Telstra to accelerate its software engineering and IT transformation journey and enhance customer experience. Further, in 2025, Infosys announced a collaboration with Telstra International to advance technology leadership, drive innovation and support Telstra’s new Connected Future 30 strategy.

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