Startup news and updates: Daily roundup (September 2, 2025)

YourStory presents daily news roundup from the Indian startup ecosystem and beyond. Here's the roundup for Tuesday, September 2, 2025.

Tuesday September 02, 2025 , 9 min Read

From QWR's bets on indigenous XR hardware for India to Tuco Kids' fundraise for product development and expansion, YourStory brings you the developments from the Indian startup ecosystem.

Featured stories

Pune startup QWR bets on indigenous XR hardware to cut India’s dependence on imports

Extended Reality (XR) is expanding into education, healthcare, defence, and manufacturing, but India still depends heavily on imported devices. Pune-based QWR (Question What’s Real), founded by Suraj Aiar, is changing that by designing and manufacturing VR headsets, AR glasses, and AI-powered wearables tailored to India’s compliance and customisation needs.

Its flagship VRone.Edu headset, aligned with NCERT K–12 curriculum, NEP 2022, Samagra Shiksha Yojana, and UN SDG 4, is deployed in 19 states, reaching 200,000+ students; while its latest product, HUMBL, is India’s first AI-powered smart glasses.

“If India wants to lead in AI, XR, and next-generation computing, we cannot build our future on imported foundations. Software may change the world, but without hardware, it’s just an idea. We have to own the stack,” Suraj Aiar, Founder and CEO of QWR told YourStory.

Bootstrapped since inception, QWR has shipped over 50,000 units to 17 countries and aims to scale manufacturing under India’s PLI scheme, targeting $100M revenue and global leadership.

How Rian is traversing the world of linguistics with AI-human synergy

Founded in 2019 by Anand Shiralkar, Pune-based Rian offers multilingual document and media translations in 50+ languages, serving 2,000+ clients including JioHotstar and Sony YAY.

With a 45-member core team and 1,200 freelance linguists, Rian blends AI efficiency with human cultural nuance. Its upcoming 'Dub Now, Pay Later' model will let creators dub content globally with zero upfront cost.

“Most players in this industry are either tech-heavy with less focus on quality, or they are quality-rich but slow and expensive. We decided to blend AI scale with a human soul. Our goal was never to translate. We want to distribute culture, not just content,” said Anand Shiralkar, CEO of Rian.

The startup recently became profitable, and clocked ₹5 crore revenue in FY25. It aims for ₹20 crore by FY26 and ₹200 crore in three years. Backed by an angel round, Rian is also eyeing international expansion and IP acquisition.

Funding stories

Offgrid Energy Labs raises $15M in Series A funding round

Energy storage solutions startup Offgrid Energy Labs has raised $15 million in a Series A funding round led by speciality chemicals manufacturing company Archean Chemical Industries. The round also saw participation from existing investor Ankur Capital.

Founded in 2018 by Kusurkar, Srivastava, Brindan Tulachan, and Ankur Agarwal, Offgrid Energy Labs focuses on delivering commercially viable and sustainable stationary energy storage solutions for three key applications: peak shifting, net-zero industrial electricity, and decentralised off-the-grid energy solutions.

According to the company’s co-founders Rishi Srivastava and Tejas Kusurkar, the major portion of the new funding will go into setting up its 10 megawatt hour UK demo manufacturing facility, which will act as the test-bed for the company’s ZinGel technology equipped batteries, before it starts commercialisation.

Tuco Kids raises $4M in Series A round Led by RTP Global

Kids personal care brand Tuco Kids has raised $4 million in Series A funding. The funding round was led by an early-stage VC firm RTP Global, with participation from existing investors Fireside Ventures, Whiteboard Capital and MG investments.

The company plans to use the funds on deepening the brand's presence, product innovation, and expansion across online and offline channels.

Founded by Aishvarya Murali (ex-Unilever, Ola, ZestMoney, Furlenco) in 2023, Tuco Kids had recently appointed Chanakya Gupta, a former executive at Curefit and Flipkart, as co-founder to spearhead growth and scale business operations.

Tuco Kids makes products for children aged 3 to 13 years. Its portfolio comprises hair care products, body wash, soap, face cream, sunscreen, mosquito repellent, kids' makeup, deodorant, kajal, and curated gift packs—available through Tuco’s own D2C platform and leading marketplaces such as Amazon, Flipkart, Nykaa, Myntra, FirstCry, Blinkit, Zepto, and Instamart.

Tuco had previously raised $2 million in seed funding from investors including Fireside Ventures, Whiteboard Capital, MG Investments and other angel investors. Over the last year, the company claims to have recorded 10x growth.

LeafyBus secures $4.1M from Enetra India

New Delhi-based intercity electric bus operator LeafyBus has raised $4.1 million from Enetra India Pvt Ltd. Singapore-based sustainable infrastructure fund Impact Capital Asia Management also participated in the round.

LeafyBus currently has 10 premium electric buses on the Delhi-Dehradun route. It will use the funds to scale to more than 1 00 buses over the next 18 to 24 months and expand to major intercity corridors in North, East, and South India.

SaveMom raises Rs 20 lakh from Navyug Global, plans expansion into private hospitals

SaveMom, a maternal health initiative by JioVio Healthcare, has secured a Rs 20 lakh investment from Navyug Global Ventures to expand into private hospital networks across the country.

Incepted in 2016, SaveMom has partnered with government hospitals and community health workers, using AI-enabled wearables to monitor over 25,000 pregnancies across 120+ rural communities, detecting risks early and saving lives.

The partnership will bridge the public–private healthcare divide, accelerating adoption in urban and semi-urban areas.

Ecommerce startup CityMall raises $47M in Series D

Gurugram-based value ecommerce startup CityMall has raised $47 million in its Series D round of funding. While the round was led by Accel, existing investors including Waterbridge Ventures, Citius, General Catalyst, Elevation Capital, Norwest Venture Partners and Jungle Ventures also participated in the round.

CityMall plans to use the funds to expand deeper into existing geographies, venture into adjacent markets, strengthen its supply chain network, and invest in private labels and brand partnerships. The startup will also be focused on hiring across technology, product, and operations verticals to scale its model sustainably.

Venturi Partners’ Fund II announces first close at $150 M

Singapore-based VC firm Venturi Partners announced the first close of its second fund at $150 million. The fund with a total target corpus of $225 million aims to make the final close by June 2026.

The growth stage VC firm has invested in startups including Country Delight and Cure.fit, and is now looking to make initial investments of between $15 million and $40 million across 10 companies in the high-growth consumer sectors.

Its Fund I portfolio includes the likes of Livspace, Pickup Coffee, and K-12 Techno Services, among others.

Others

ASML, Lam, Merck to support India’s chip push with tools, talent, materials

At Semicon India 2025, global semiconductor leaders ASML, Lam Research, and Merck pledged technology, training, and materials to accelerate India’s first chip fabs.

ASML will provide advanced lithography, Lam will train 60,000 engineers across 60 universities through its Semiverse platform, and Merck will supply high-purity chemicals critical to chipmaking.

With government support under the ₹76,000-crore ISM programme, projects like Tata-PSMC’s $11B Dholera fab and Micron’s Sanand ATMP are gaining momentum. India also unveiled the Vikram 3201, its first indigenous 32-bit space-qualified processor, at the event.

To read more, click here.

boAT, Urban Company, Juniper Green Energy get SEBI nod for IPOs

The Securities and Exchange Board of India (SEBI) has cleared the initial public offering (IPO) plans for 13 companies including Imagine Marketing Ltd (the parent of boAt), home services provider Urban Company, and renewable power producer Juniper Green Energy Ltd.

According to SEBI filings, at least 53 other IPO applications remain under review.

ICICI Bank launches dedicated branch for startups in Bengaluru

ICICI Bank has launched a branch in Bengaluru’s HSR Layout, specifically aimed at catering to the distinct needs of startups. The branch is designed to serve as a one-stop destination for emerging businesses at various stages of the journey of startups, through both digital and physical offerings.

Besides the traditional banking service, the branch will also serve as an experience and engagement centre by facilitating networking with VCs. A dedicated relationship management team is also in place to provide startups with personalised support.

Suhora Technologies announces partnership with Satellogic Inc

Suhora Technologies has signed an exclusive multi-year agreement with Satellogic Inc to deliver high-resolution earth observation services in India and Nepal. The seven-figure deal grants Suhora sole rights to provide Satellogic’s sub-meter satellite imagery and data in the region, expanding access to advanced earth observation capabilities for government and commercial users. Applications of this include urban planning, infrastructure development, natural resource management, disaster response, and climate change mitigation, enabling smarter, data-driven decision-making.

The partnership builds on the companies’ existing collaboration, further delivering advanced earth observation solutions tailored for the Indian market.

Goldman Sachs cuts stake in BlackBuck, Nomura buys in for Rs 247 Cr

Exchange data has revealed that Goldman Sachs has offloaded 2.74% (49.1 lakh) of its stake, worth Rs 295 crore, in Bengaluru-based logistics marketplace BlackBuck (formerly Zinka Logistics). On the other hand, Nomura India Investment firm acquired 2.29% share in BlackBuck, investing Rs 247 crore in the listed company.

The deal follows a series of stake reductions by global investors in recent months. BlackBuck declined to comment on the development.

Exits continue at Peak XV: Managing Director Harshjit Sethi quits

Harshjit Sethi, Managing Director at Peak XV Partners, has quit the VC firm after a decade-long stint. This marks another top-level exit at a time when the VC firm plans to raise a new fund.

Sethi took to X (formerly Twitter) to announce his exit.

He wrote: “After a decade at Sequoia India and Peak XV, I’ve decided to leave the firm and explore a new innings. It’s been a journey rich in learning and relationships.”

Earlier, four senior executives exited Peak XV Partners—one of India’s largest VC firms.

To know more, read here.

Karnataka HC issues interim asset freeze in BYJU’S-QIA dispute

The Karnataka High Court has issued an interim order restraining BYJU’S founder Byju Raveendran and related entities from disposing of assets listed in a petition by the Qatar Investment Authority (QIA).

QIA seeks enforcement of a $235 million Singapore arbitration award—now over $249 million with interest—linked to a 2022 loan for Aakash Educational shares. The dispute centers on alleged improper share transfers and loan defaults.

The court’s freeze will remain until the next hearing. This adds to Raveendran’s increasing troubles, including insolvency proceedings in India and a U.S. contempt ruling carrying $10,000 daily fines.