Startup news and updates: Daily roundup (September 19, 2025)

From SoftBank’s Vision Fund looking to make 20% job cuts to DeepSeek claiming it trained its R1 AI model for just $294,000, YourStory brings today’s headlines that highlight significant developments across industries.

Featured stories

India’s e-bus push gathers pace, but registrations lag behind orders

According to Vahan data, only 3,066 e-buses have been registered year-to-date, still short of the 2024 peak of 3,611. This gap indicates that much of the action this year has been happening at the order and production stages, forecasting a gradual pick up in registrations late this year and beginning next year as most e-bus manufacturers take between 3-12 months to fulfil orders. 

A recent report by CareEdge reinforces this indication. The report notes that the annual sales volume of e-buses in India is expected to reach more than 17,000 units in FY27, accounting for nearly 15% of the total bus volume in the country, compared to 4% in FY24. Read more. 

How Virtual Racing Hub is driving sim racing and motorsport innovation in India

In 2020, Akshat Taneja and Pavitra Balakrishnan began gaming on their PlayStation 4, playing various driving titles. Soon, the duo wished to upgrade their gaming experience to proper simulation racing equipment.

Taneja and Balakrishnan soon realised that quality gear was simply not available in India, which struck them as a significant gap in the market.

Today, Virtual Racing Hub (VRH) sells and builds high-end racing simulators in India. The startup provides steering wheels, pedals, rigs, and VR setups from top brands, sets up custom simulators for customers, and also hosts demo events so people can experience simulation racing firsthand.

Its pricing is designed to cater to different audiences: entry-level B2C setups start at around Rs 30,000, while turnkey B2B solutions typically begin at Rs 5 lakh and scale with client requirements. Read more.

Latest news

SoftBank’s Vision Fund looking at 20% job cuts: Report

SoftBank’s Vision Fund is mulling laying off 20% of its workforce, Reuters reported. Vision Fund is one of the largest technology-focused investment funds in the world and has invested in a number of Indian companies, including EV maker Ola Electric and foodtech major Swiggy.

According to the report, SoftBank, which employed about 282 people as of March-end, is looking to let go of more than 50 roles. Read more.

OYO-parent PRISM introduces CheckIn, a new premium value hotel brand

PRISM, the parent company of OYO, has launched CheckIn, a brand that brings together its premium value hotel offerings, including Townhouse Hotels, Clubhouse, Sunday Hotels, Belvilla, and Palette Hotels.

With a network of more than 1,300 hotels across India, CheckIn is currently the country’s largest chain in the premium value segment. Properties under the brand will be managed by dedicated CheckIn teams and partner operators, with a focus on consistency and guest experience.

“CheckIn is designed to offer a reliable and well-rounded premium value stay experience. It reflects our effort to build on OYO’s budget segment foundation and extend into higher-value hospitality," Ritesh Agarwal, Founder and Group CEO of PRISM, said. Read more.

Funding

Climate tech startup Equilibrium secures $3M seed funding

Equilibrium, a digitally-enabled, full-stack carbon project developer, raised a $3 million seed round from Kalaari Capital, Peak XV Partners and Avaana Capital.

Equilibrium integrates carbon science, digital monitoring, and community-driven execution to deliver high-quality, verifiable carbon removals that not only reduce carbon emissions but also build resilience in India’s food systems.

The startup's project portfolio spans agroforestry, regenerative agriculture, mangrove restoration, and biochar. These nature-based solutions help sequester carbon, diversify farmer incomes, and convert agricultural and biomass waste into valuable products.

The funds will support the expansion of eight pipeline projects across nine Indian states, covering 120,000 hectares of land and engaging over 150,000 smallholder farmers. Collectively, these projects are expected to generate more than 20 million tonnes of high-quality carbon removal.

Raptee.HV secures funding from the Technology Development Board

Chennai-based electric motorcycle OEM startup Raptee.HV has secured strategic funding from the Technology Development Board (TDB), Department of Science & Technology, Government of India.

This funding makes Raptee.HV, the first electric vehicle motorcycle OEM in India to receive financial support from TDB, underscoring the company’s research-first approach and groundbreaking innovations in mobility technology.

The fresh funding will enable Raptee.HV to further advance its proprietary high-voltage technology and accelerate its efforts to capitalise on the $1 billion performance electric motorcycle category.

EVamp Technologies secures Rs 7 Cr funding

EVamp Technologies, the company behind Mobilane, the fast-growing electric vehicle charging network, has raised Rs 7 crore in its first funding round.

It plans to use the capital to scale up its pan-India EV charging infrastructure and invest in the in-house manufacturing of AC chargers and Light Electric Vehicle (LEV) DC chargers. With this funding, EVamp aims to expand its market reach, expand its portfolio, and contribute to India's shift toward clean mobility.

Also Read

Ola Electric rolls out 1M vehicles in under 4 years at Tamil Nadu Futurefactory

Other news

NatWest Group expands in India with the new Bengaluru office

NatWest Group India opened a new office at Taurus 4 in Bagmane Constellation Business Park, as it aims to expand in India by investing in India’s deep technology and talent ecosystem.

This expansion builds on the bank’s previous commitment to grow its India-based workforce and further strengthen its global digital capabilities. The Bengaluru office is one of NatWest’s most important hubs for technology and operations, complementing its presence in Chennai and Gurugram.

L.T. Elevator Ltd gets listed on the BSE SME Platform

Kolkata-headquartered L.T. Elevator has become the 624th company to get listed on the BSE SME platform. The company provides elevator system solutions with a focus on service, engineering, and technical solutions.

The company offers end-to-end solutions, starting from elevator manufacturing, installation, commissioning and servicing under an annual maintenance contract. Arvind Gupta, Usha Gupta, and Yash Gupta are the promoters of the company.

The equity shares were issued at a price of Rs 78 per equity share, aggregating to a total issue size of Rs 39.37 crore. The IPO closed on September 16, 2025.

Ather Energy crosses 500+ experience centres in India

Electric vehicle maker Ather Energy has opened over 500 experience centres across India. Over the last few months, Ather has rapidly expanded its presence across India, focusing particularly on Middle and North India to cater to the growing demand for its electric scooters, especially the Rizta.

Ravneet Singh Phokela, Chief Business Officer, Ather Energy, said, “While South India continues to be our strongest base, where we are steadily growing, the success of Rizta has also helped us fast-track expansion in Middle and North India. This growth is not confined to metros alone.

"We are also building deeper into Tier II and III cities, where consumer response has been equally encouraging. As we continue to scale, our focus remains on making Ather accessible to more customers across India, with the aim of crossing 700 experience centres by the end of FY26.”

Dhruva Capital Services partners with microfinance lender Vector Finance

NBFC firm Dhruva Capital Services has announced a strategic merger with Vector Finance, marking its foray into the microfinance business. The company currently offers business loans, loans against property, loans for commercial vehicles and commercial equipment, invoice and lease rental discounting, and construction finance.

PhonePe receives final RBI authorization to operate as an online payment aggregator

PhonePe has received final authorization from the Reserve Bank of India (RBI) to operate as an online payment aggregator. The authorization allows the company to extend its payment services to a wider set of online merchants, including small and medium businesses across the country.

Commenting on the development, Yuvraj Singh Shekhawat, Chief Business Officer – Merchant Business at PhonePe, said the authorization will help the company offer digital payment solutions to a broader base of businesses, particularly in the SME segment.

PhonePe’s payment gateway enables merchants to accept online payments and provides access to features such as instant onboarding, developer tools, and plug-ins aimed at improving payment success rates.

NEXT enters Indian Market, opens first store in Pune with Myntra

UK-based fashion retailer NEXT has opened its first exclusive brand store (EBO) in India in partnership with Myntra Jabong India Pvt. Ltd. (MJIPL) and its franchisee partners. The Pune store, located at Pavilion Mall, spans 7,100 sq. ft. and offers clothing for men, women, and children.

As part of the agreement, MJIPL holds the licensed rights to distribute NEXT’s products in India and to work with franchisee partners for setting up and running stores. The company plans to expand to around 50 points of sale across the country by 2030, with upcoming outlets in cities including Hyderabad, Delhi, Mumbai, and Bengaluru.

Founded in 1982, NEXT operates over 460 stores in the UK, 265 franchise outlets internationally, and has an online presence in 80 markets. Its entry into India adds to its global retail footprint, with a focus on combining physical stores and digital channels.

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