Startup news and updates: Daily roundup (October 17, 2025)

From UGRO Capital disbursing fast loans during the festive season to how Springwel Mattresses aims to become a digital-first brand, YourStory brings today’s headlines that highlight significant developments across industries. 

Featured stories

UGRO doubles disbursals as it shifts to fast loans for festive season rush

Non-banking financial company UGRO Capital Ltd has ramped up short-term lending to help India’s small businesses stock up for the country’s biggest shopping season.

The Mumbai-based company has reallocated origination capacity from long-tenure secured loans to fast-turnaround digital products. In the lead up to Diwali, it has doubled monthly disbursements on its merchant platform to about Rs 300 crore from Rs 150 crore in a typical month.

Founder Shachindra Nath says September marked near-record disbursements as consumption resilience and GST cuts fuelled demand among India's small businesses. Read more.

These student-founded initiatives are reshaping social impact in India

Across campuses in India, young people are reimagining what civic engagement looks like. A 2024 study, titled 'Empowering Youth for Social Change: The Role of Social Entrepreneurship Education', highlights how student-led initiatives are increasingly combining empathy with enterprise to solve local problems through sustainability, innovation, and inclusion.

This shift has given rise to a generation of student-founded organisations that blend activism, development, and community building. What began as weekend projects in hostel rooms has grown into NGOs shaping lives across states—working to improve education, food recovery, clean water, and healthcare access. Read more.

Springwel Mattresses balances legacy, innovation as it transforms into a digital-first brand

Founded in 1996, Springwel is one of the pioneers of spring mattresses in India. Over the years, the company has built a reputation for quality and material science innovation. As it gears up for its next growth phase, it is focused on digital integration and ecommerce expansion.

The company has expanded its range to include foam, coir, and latex mattresses, designed with advanced materials and layered construction to improve airflow, relieve pressure points, and support proper spinal alignment for better sleep, says Mayank Jha, CEO and Head – Digital Transformation at Springwel Mattresses. Read more.

Also Read

Wipro posts steady performance in Q2, net profit rises marginally

Five home appliances businesses to look out for this Diwali

Every Indian household has that one trusted appliance—a mixer that has lasted decades, a fan that hums through every summer, or a pressure cooker passed down through generations. These everyday essentials reflect not just convenience, but the reliability of Indian brands that have quietly, and sometimes with a buzz, powered our homes for years.

According to Grand View Research, the Indian household appliances market was valued at $22.45 billion in 2024 and is projected to grow at a CAGR of 7.2% between 2025 and 2030.

Government initiatives like Make in India have further fuelled this demand, with brands like Godrej, Voltas, Bajaj, and Crompton competing against global giants like Samsung, LG, Whirlpool, and Philips. Yet, beyond these familiar names, a set of homegrown appliance businesses is redefining innovation and affordability across India’s Tier II and III cities. Read more.

Latest news

Groww launches commodity trading as it expands suite ahead of IPO

Groww now allows users to trade key commodities, including gold, silver, crude oil, and natural gas, directly through the Groww app or website.

Commodity markets, often driven by macroeconomic and geopolitical factors, provide diversification benefits for investors. Assets like gold and crude oil tend to move differently from equities, often performing well in inflationary environments. Long trading hours, from 9:00 AM to 11:30 PM, also offer flexibility for working professionals.

Zerodha launched its commodities trading services in September 2015 through its subsidiary Zerodha Commodities Pvt. Ltd., after receiving membership with the Multi-Commodity Exchange (MCX) and National Commodity & Derivatives Exchange (NCDEX). Read more.

Funding news

L Catterton invests in Pune-based healthcare chain Healing Hands Clinic

Private equity firm L Catterton has invested in Healing Hands Clinic, a proctology-focused healthcare chain, marking its first bet on India's speciality outpatient segment as demand for anorectal care rises.

The deal will allow Healing Hands to support its plans to expand beyond its current network of 36 clinics across 14 cities. The deal, whose financial details were not disclosed, will give Healing Hands access to L Catterton’s global experience in building consumer healthcare businesses

Founded in 2013 by Dr Ashwin Porwal, Dr Snehal Porwal, and Roshan Porwal, the Pune-based chain specialises in treating piles, fissures, fistulas, and constipation using a mix of allopathic medicine and proprietary plant-based formulations. The founders said the partnership marks the company’s first external investment. Read more.

E-bus maker EKA Mobility raises Rs 500 Cr from NIIF’s India-Japan Fund

Electric bus maker EKA Mobility raised Rs 500 crore from the National Investment and Infrastructure Fund (NIIF) managed by India-Japan Fund (IJF) amidst rising traction for electric buses in the country.

The company will use the newly raised funds to expand its manufacturing capacity, advance research and development initiatives and improve its supply chain infrastructure.

“We are proud to have NIIF as a strategic partner in our growth journey. This investment comes at a crucial time as we expand operations, strengthen our R&D, and accelerate the adoption of electric mobility across India. NIIF’s support reinforces our shared vision of creating sustainable, inclusive, and future-ready transportation solutions,” said Sudhir Mehta, Founder and Chairman of EKA Mobility.

EKA Mobility last raised Rs 200 crore in June this year from private equity firm ENAM Holdings, marking the firm’s entry into a unicorn status, YourStory had reported. Read more.

HooLiv raises Rs 24 Cr from Negen Capital to expand student housing network

Student co-living and housing platform HooLiv has raised Rs 24 crore in a pre-Series A round led by Negen Capital, with participation from institutional and angel investors and family offices.

The startup will use the funding to expand HooLiv’s presence in non-metro cities through bed acquisitions, brand-building initiatives, and further development of its proprietary property management platform. It also plans to explore international replication of its model.

Founded by Chinmoy Mishra, Rasmi Mishra, Gaurav Vij, and Abhishek Verma, HooLiv provides purpose-built, professionally managed accommodations for students in higher education and coaching ecosystems.

Dashamlabs raises seed funding from Speciale Invest, IIMA Ventures

Deeptech materials startup Dashamlabs raised an undisclosed seed funding round from Speciale Invest and IIMA Ventures to commercialise its silica aerogel insulation technology for industrial, mobility, and infrastructure applications.

Dashamlabs is building India’s first commercial platform for advanced aerogel-based insulation. It aims to scale manufacturing of flexible silica aerogel sheets designed for high performance, offering ultra-low thermal conductivity, fire resistance, and temperature stability ranging from -150°C to 1000°C.

“With this funding, we aim to make energy-efficient materials accessible across industries by scaling advanced aerogels from India,” said Ankit Jhanwar, Co-founder and CEO of Dashamlabs.

Founded by Jhanwar, Apoorv Balwani, and Devakar Dhingra, the company has a technology partnership with ARCI, with Neha Hebalkar from ARCI joining as inventor co-founder and scientific advisor.

With the fresh funding, Dashamlabs plans to expand R&D and production capacity, build pilot systems, and collaborate with partners across oil and gas, EVs, defence, and construction sectors to validate and scale its products.

Other news

CoinDCX launches India’s first in-app real-time Transparency Centre for fund safety

CoinDCX launched a real-time Transparency Centre, a disclosure hub integrated within its app to give users continuous access to fund safety information.

The initiative marks a shift from monthly reports to an always-on format, offering visibility into Proof of Reserves, Assets Under Custody (AUC), Crypto Investor Protection Fund (CIPF), cold wallet holdings, partner funds, and TDS compliance.

CoinDCX said all fund safety information is independently audited by third-party firms and updated monthly. The company added that it holds over 100% of user assets in custody, with the majority stored in cold wallets.

AI Planet, InfoDrive form $3M JV to expand AI transformation in the Middle East

AI Planet, a deeptech company specialising in enterprise Generative and Agentic AI platforms, announced a joint venture with InfoDrive Analytics, part of the Vardaan Global Group, backed by a $3 million investment to build a regional AI and digital transformation hub in the United Arab Emirates.

The partnership marks AI Planet’s first presence in the UAE beyond Belgium, Luxembourg, and India. The Dubai-based venture will serve as AI Planet’s regional headquarters, targeting governments and large enterprises in their AI-led digital transformation initiatives.

The investment from InfoDrive Analytics will go toward market development, customer acquisition, operations, and local hiring, alongside developing industry-specific Agentic AI solutions powered by AI Planet’s proprietary platform.

Axis Bank partners with Hitachi Payment Services for digital banking

Axis Bank, one of the leading private sector banks in India, has partnered with Hitachi Payment Services, a payments and commerce solutions provider, to unveil "Express Banking", a digital banking point.

This omnichannel solution for branch banking will offer a full range of banking services in a compact format. Leveraging Hitachi Payment Services’ expertise in banking technology and payment solutions, the Digital Banking Point is designed to enhance accessibility and convenience. According to a statement, customers can now walk into Express Banking to open new bank accounts, avail instant cards, book fixed deposits, apply for loans and pay utility bills, among others. It has other features such as a card printer, cheque depositor, passbook printer, and NFC capabilities.

UnearthIQ forms GCC partnership with Smartworks Coworking

UnearthIQ by UnearthInsight, an emerging Global Capability Centres (GCC) enablement and research firm, has entered into a strategic partnership with Smartworks Coworking Spaces Limited, a managed office platform.

Through this collaboration, UnearthIQ will partner with Smartworks’ SmartVantage GCC platform for research, benchmarking, innovation best practices and actionable insights. The partnership brings together UnearthIQ’s expertise in benchmarking insights, GCC advisory, innovation partnerships, research and thought leadership with Smartworks’ extensive workspace ecosystem.

“Through our collaboration with Smartworks, we are combining advisory depth with execution strength to help enterprises build and scale. UnearthIQ will bring the research, insights and innovation muscle that global firms need to convert GCC vision into true business impact,” said Gaurav Vasu, Founder and CEO, UnearthIQ.

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