Startup news and updates: Daily roundup (October 23, 2025)

From WazirX to restart operations on October 24 to Uniphore securing $260 million from NVIDIA, AMD, and others, YourStory brings you today’s headlines with the latest developments across sectors.

Featured stories

How a Chandpur-based kraft paper unit embraced sustainability

Founded by Arvind Kumar Mittal in 1998, Chandpur Paper has evolved from a small three-acre kraft paper unit in Uttar Pradesh to a major player in India’s sustainable packaging industry, under the leadership of Amit Mittal.

With an initial investment of Rs 4 crore, the unit manufactured 25 tonnes per day (TPD) of kraft paper on a three-acre plot.

Kraft paper is a durable, coarse paper made from pulp produced by the kraft process, which uses chemicals to separate wood fibres from wood chips. It is used for wrapping fragile items, filling voids in boxes, and making sturdy bags and envelopes. Read more

How India can become a key player in the global semiconductor industry

The global semiconductor industry is poised to cross $1 trillion in size by 2030. India can carve a strong niche for itself owing to four elements: talent, domestic demand, government policies, and startups.

Endiya Partners, an early-stage venture capital firm, in its report, India’s Semiconductor Moment: Perspectives from DEMO, noted that the country is poised to become a critical node in the globe’s technology supply chain. DEMO stands for - Deeptech Exponential Market Opportunities. Read more

BlueHill VC to invest in Helex, top up investment in EtherealX

Chennai-based early-stage venture capital firm BlueHill VC has invested in Hyderabad-based startup Helex, which is developing advanced therapeutics for the needs of patients with genetic kidney diseases.

While the firm did not disclose how much it has invested in the company, initial cheque sizes are about $1 million per company. For follow-on investments, the company’s cheque sizes are between $2 million and $4 million.

BlueHill had invested in EtherealX's seed round back in 2023, during which it raised $341,000 at a $2.4 million post-money valuation, according to data website Tracxn. Read more

Funding news

Wonderland Foods raises Rs 140 Cr

Healthy snacking brand Wonderland Foods has raised Rs 140 crore in its first institutional funding round led by Asha Ventures and British International Investment (BII), the UK’s development finance institution and impact investor.

The funds will be used to set up a green processing facility in Greater Noida and create more than 1,000 formal jobs, primarily for women, the company said in a press note.

The company plans to use the investment to expand its distribution network, launch new value-added products, and strengthen its position in the branded dry fruits and nuts market.

Brigade REAP Mentored Megaliter Varunaa secures Rs 15 Cr

Hyderabad-based Megaliter Varunaa, a subsidiary of NSE-listed Banka BioLoo Limited and mentored by Brigade REAP, has secured Rs 15 crore in seed capital from long-term Institutional Investors. This funding will propel project development and accelerate both business growth and technology innovation in urban water management.

Megaliter Varunaa transforms sewage treatment plants (STPs) into productive, circular water utilities through its flagship ‘Megaliter Model’—a zero-CapEx, subscription-based solution that maximises wastewater reuse.

By entering long-term, end-to-end service contracts, the company delivers an integrated offering covering financial, operational, and compliance needs.

Michezo Sports bags funding from Centre Court Capital and Rainmatter by Zerodha

Michezo Sports, which operates in India’s emerging sports infrastructure space, has raised a new round of funding led by Centre Court Capital, a venture capital firm focused on sports and gaming. Rainmatter, the investment arm of Zerodha, also participated in the round. The investment reflects rising investor interest in India’s sports infrastructure sector, which is seeing growing momentum amid the country’s long-term ambitions to host global sporting events such as the 2036 Olympics.

The investment further enables Michezo to expand into infrastructure verticals, including pools, civil and public sports infrastructure, and distribution platforms for sports infrastructure materials.  

Latest news

WazirX to restart operations post cyberattack

Indian crypto exchange WazirX will restart its operations on October 24, following a cyberattack that resulted in the loss of $230 million worth of assets in July last year.

The company completed its restructuring process after the Singapore High Court sanctioned the creditor-approved restructuring scheme proposed by Zettai Pte Ltd, the company overseeing WazirX’s revival. This comes after 95.7% of voting creditors, representing 94.6% of the total creditor value, voted in favour of the scheme.

As part of the restarting offer, the company is offering its users 0% trading fees across all trading pairs.

Read more

BharatPe appoints ex-Paytm exec Ajit Kumar as CTO

BharatPe, the Indian financial services and UPI payments platform, has appointed Ajit Kumar as its Chief Technology Officer as it looks to expand and strengthen its technology and product infrastructure.

Kumar, who joins from Paytm where he served as Senior Vice President of Engineering, will oversee BharatPe’s technology strategy and innovation roadmap. The company said he will be responsible for scaling its payments and lending platforms with a focus on reliability and product excellence.

With more than 19 years of experience, Kumar has previously held senior technology roles at Snapdeal, Times Internet and SAP Labs.

Read more

ONDC appoints former Paytm executive Rohit Lohia as chief business officer

The Open Network for Digital Commerce (ONDC) has appointed Rohit Lohia as its chief business officer (CBO).

The government-backed digital commerce network announced this in a statement.

Lohia previously served as the senior vice president at Paytm(One97 Communications), where he led business strategy, product development, and risk functions. He also held board positions at Paytm Money and One97 Communication India.

Read more

Other news

Bolt.Earth, Atul Greentech to launch home charging programme

Bolt.Earth, an EV charging network, has partnered with Atul Greentech, a global leader in EV three-wheeler vehicle manufacturing, to redefine the electric vehicle (EV) ownership experience across the country.

The collaboration introduces a first-of-its-kind nationwide Home Charging Programme, making professionally installed home chargers a standard feature with every EV purchase. This initiative also includes comprehensive customer education programs to promote safe, efficient charging practices, addressing two of the most pressing challenges in India’s EV adoption journey: reliable access to charging and consumer confidence.

MoEVing to deploy 700 Tata Motors EVs

MoEVing, an electric mobility solutions provider, has partnered with Tata Motors Commercial Vehicle dealers—Pascos, Johar Motors, and Bhandari Automobiles—to lease a fleet of 700 electric small commercial vehicles (e-SCVs), comprising the popular Ace EV and Ace Pro EV, for last-mile deliveries in the ecommerce, logistics, and FMCG sectors across 10+ cities, including Delhi-NCR, Mumbai, Pune, Chennai, Hyderabad, Bengaluru, and Kolkata. 

This deployment will lead to carbon emission reduction of almost 2,000 tonnes per year, contributing to India’s Net Zero 2070 target, the company asserted. 

CCAvenue partners with Ujjivan Small Finance Bank for payment gateway solutions

CCAvenue, a leading digital payment gateway and flagship brand of Infibeam Avenues Limited, has expanded its partnership with Bengaluru-based Ujjivan Small Finance Bank to enhance merchant payment experiences across India. The collaboration was announced at the Global Fintech Fest 2025 in Mumbai.

As part of the tie-up, CCAvenue’s payment gateway will power Ujjivan Small Finance Bank with white-labelled digital payment solutions, allowing the bank to offer its merchant network a secure and integrated payment platform. The partnership will also support Ujjivan’s efforts to expand its digital offerings and promote the adoption of cashless transactions among small businesses.

D2C orders up 60% as Tier II cities drive exponential growth: Emiza

India's ecommerce landscape is thriving this festive season, with direct-to-consumer brands and emerging markets driving growth. Operational data from Emiza, a third-party logistics (3PL) provider, reveals that the 2025 festive season is witnessing a marked acceleration in order volumes, with D2C order shipments climbing 30% in 2025.

Most notably, Tier II is now contributing nearly 60% of total festive shipments, a substantial increase from previous years, signalling a deepening of ecommerce penetration beyond traditional metro markets. Not only this, but order volumes are rising 13% YoY and demonstrating India's consumers' growing preference for D2C platforms. 

NOVA partners with Tata Elxsi to co-develop Kavach 4.0

NOVA Control Tecnologix, a deeptech subsidiary of e2E Transportation Infrastructure Limited, has officially launched as India's full-stack Rail Original Equipment Manufacturer. The company partnered with Tata Elxsi to co-develop Kavach 4.0, the next generation of India's indigenous Automatic Train Protection system.

NOVA will serve as the primary OEM responsible for manufacturing, testing, and integration, while Tata Elxsi leads hardware and software design, safety certification, and cybersecurity engineering. The collaboration aims to accelerate nationwide deployment across India's railway network, with NOVA backed by a team of 100+ engineers and state-of-the-art testing facilities.

Tally Solutions integrates with NBBL's Bharat Connect for Business

Tally Solutions has integrated NPCI Bharat BillPay's Bharat Connect for Business platform into TallyPrime, creating an interoperable environment for businesses to manage invoicing, supplier interactions, collections, payments, and reconciliations more efficiently.

Key features include seamless ERP-to-ERP invoice exchange, automatic recording of supplier invoices, instant notifications on customer payments, and automated AR & AP reconciliation. The integration is designed to particularly benefit MSMEs by improving cash flow visibility and reducing manual errors.

Ujjivan SFB's Hello Ujjivan App facilitates Rs 690 Cr in transactions

Ujjivan Small Finance Bank's Hello Ujjivan app has facilitated over Rs 690 crore in financial transactions since its launch, bringing digital banking to first-time borrowers. With over 13 lakh downloads, the app serves microbanking customers, 98% of whom are women with an average age of 35 years.

India's first voice-visual-vernacular mobile banking app, Hello Ujjivan, supports 11 Indian languages and combines voice assistance, visual navigation, and multilingual functionality. The app has enabled Rs 277 crore in loan repayments, Rs 358 crore in deposits, Rs 34 crore in individual loan disbursements, and facilitated more than 36,000 insurance purchases.

Microsoft Azure Partners with Collective Artists Network's Galleri5

Collective Artists Network and Microsoft have announced a strategic partnership to advance AI-powered content creation. Galleri5, Collective's technology studio, has selected Microsoft Azure AI Foundry as its foundational platform to deliver scalable storytelling experiences.

Collective is developing a slate of AI-driven feature films, including Chiranjeevi Hanuman – The Eternal slated for 2026 theatrical release, and more than 40 AI-enabled micro-dramas. The company also announced Mahabharat: Ek Dharmayudh, an AI-enabled episodic series for national television and digital platforms.

IIT Madras expands collaboration with Applied Materials

IIT Madras has deepened its collaboration with Applied Materials India to advance semiconductor research and workforce development. The institute will deploy the foundational software framework of Applied Materials' AppliedTwin platform, a digital twin solution designed to model and optimise semiconductor manufacturing.

The AppliedTwin software suite includes ACE+ for multi-physics modelling and TOPO+ for feature-scale topography simulation. Students across institutions and MSMEs will be able to access the software through the IITM platform via Swayam Plus.

Fractal achieves AWS Generative AI Consulting Services Competency

Fractal, a global provider of AI solutions to Fortune 500 companies, has achieved the Amazon Web Services Generative AI Consulting Services Competency. This milestone recognises Fractal's expertise in leveraging AI technologies to drive innovation and transformation for global clients.

The competency identifies partners with proven technical proficiency in guiding organisations through the entire generative AI lifecycle, from strategy definition and responsible AI frameworks to building and maintaining generative AI applications.

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