On 28th July, Indian startups and businesses saw some important updates. Genexis Biotech raised INR 4 crore to grow its biotech work, while Drizz got $2.7 million to improve mobile app testing. In other news, VerSe Innovation hired a new HR head, Krutrim laid off over 100 employees, and new UPI rules were announced to manage system load. Here’s a quick look at the top funding deals and key business news from the day.
Daily Indian Funding Digest – 28 July 2025
| Startup | Funding Round | Amount | Lead Investor(s) | Sector / Use |
|---|---|---|---|---|
| Genexis Biotech | Seed | ₹4 crore (~USD 0.5 m) | GVFL (with Benzai10) | Animal‑origin‑free recombinant proteins, scaling bioreactors |
| Drizz | Seed | USD 2.7 million (~₹23.4 crore) | Stellaris Venture Partners (with others) | Mobile app testing automation platform |
Genexis Biotech secures INR 4 crore seed funding
Vadodara‑based Genexis Biotech has closed an INR 4 crore seed round led by GVFL, along with participation from Benzai10. The funds will be deployed to expand bioreactor capacity, build downstream processing infrastructure, launch recombinant proteins (such as amino peptidase, enterokinase, and upcoming transferrin and albumin), and enhance compliance, sales and distribution capabilities.
Genexis Biotech specialises in animal‑origin‑free recombinant protein production using precision fermentation, addressing demand in biopharma, food‑tech, cell culture and cosmetics sectors. The firm operates a Class 10,000 certified facility and is setting up a GMP‑compliant unit.
Drizz raises $2.7 million in seed round
Mobile testing and automation startup Drizz has secured $2.7 million in its seed funding round, with Stellaris Venture Partners leading and other investors participating. The capital will support Drizz’s growth plans and further development of its DevOps testing platform tailored for mobile application testing efficiency.
Drizz provides an AI‑driven mobile app testing platform designed to help developers and enterprises automate quality assurance workflows at scale. With the app ecosystem expanding rapidly, Drizz’s tools aim to streamline testing, reduce time‑to‑market and support continuous integration practices.
Key News Highlights for 28 July 2025
VerSe Innovation appoints Rohit Sandal as CHRO
VerSe Innovation, the AI‑powered parent of Dailyhunt and Josh, has appointed Rohit Sandal as Chief Human Resources Officer. A veteran from Freshworks, Lenovo and Dell, Sandal succeeds Maya John and will lead global talent strategy and culture transformation as VerSe scales internationally. The move aims to reinforce VerSe’s future‑ready workforce and support its AI‑first products, including NexVerse.ai, Dailyhunt Premium and Josh Audio Calling, which serve over 350 million users.
Ola‑backed AI firm Krutrim lays off over 100 staff in second round
Founded by Bhavish Aggarwal, AI unicorn Krutrim has laid off over 100 employees in a second wave of job cuts, primarily affecting its linguistics division. The majority had been hired just six months ago. The restructuring aims at leaner operations amid slower product traction and fundraising delays. At peak, the linguistics team had nearly 600 members working across ten Indian languages.
Lenskart moves ahead with IPO; board reshuffled ahead of float
Lenskart shareholders have approved an IPO to raise INR 2,150 crore (~USD 250 million) via fresh issue; total offer size may reach INR 8,500 crore (~USD 1 billion) including secondary sales. Ahead of listing, independent directors Ashish Kashyap (IndMoney founder, ex‑Goibibo) and Sayali Karanjkar (co‑founder PaySense) have joined the board. The board literacy and governance tweaks align with public market expectations. A DRHP filing is expected imminently.
AI SaaS startup Astra shuts down four months after funding
Astra, an AI‑driven SaaS startup backed by Perplexity AI co‑founder Aravind Srinivas, has unexpectedly shut down operations barely four months after raising capital. The firm had aimed to deploy AI Sales Agents to automate enterprise sales workflows. Despite Srinivas’s investment and strategic backing, Astra cited insufficient traction and operational hurdles as reasons for ceasing business.
Major UPI rule changes effective 1 August to ease system load
From 1 August 2025, the NPCI will enforce limits under new UPI regulations: users can check bank balance only 50 times per day per UPI app and view linked bank accounts only 25 times daily. Autopay mandates and transaction‑status queries will be confined to fixed windows outside peak hours, and API‑based features such as address validation will be regulated. These measures aim to reduce backend congestion and boost system stability.
Apoorva Bajj
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