From Ammunic Systems raising $1.1 million to advance India’s defence-tech capabilities to Yali Capital closing its INR 893 crore maiden fund to fuel deeptech innovation, the day saw notable movements across venture capital and strategic sectors. On the business front, Swiggy reshuffled its board post-IPO, the government cracked down on OTT platforms, and Elevation Capital continued exiting its stake in Ixigo. Here’s your quick roundup of the top funding deals and key business news in India for 25th July 2025.
Daily Indian Funding Digest – 25 July 2025
| Company / Fund | Sector | Amount Raised | Lead Investor(s) | Use of Funds |
|---|---|---|---|---|
| Ammunic Systems | Defence‑tech | $1.1 million (approx ₹9.2 cr) | India Accelerator & Finvolve | Scale existing products, R&D, team building |
| Yali Capital (fund) | VC – Deeptech | ₹893 crore | Infosys, Qualcomm Ventures, Tata AIG, DPIIT FoF, Self‑Reliant India Fund, others | Invest in early‑ and late‑stage deeptech startups (semiconductors, AI, robotics, genomics, aerospace) |
Ammunic Systems Secures $1.1 Million in Seed Round
Defence-tech startup Ammunic Systems has raised $1.1 million in a seed round led by India Accelerator and Finvolve. The Bengaluru-based company develops advanced electronic fuzes, warhead systems and integrated munitions. The funding will go towards scaling production, expanding its R&D efforts and building a larger technical team. This investment aligns with India’s growing push for indigenous defence innovation.
Yali Capital Closes INR 893 Crore Deeptech Fund
Venture capital firm Yali Capital has announced the final close of its debut deeptech fund at INR 893 crore, surpassing its initial target. Backers include Infosys, Qualcomm Ventures, Tata AIG, and government-linked funds like the DPIIT Fund of Funds and Self-Reliant India Fund. The fund aims to invest across early and late-stage companies in semiconductors, AI, robotics, genomics, and aerospace. Yali has already made five investments and plans to support 8–10 deeptech startups in its first cycle.
Key News Highlights for 25 July 2025
Ohm Mobility (Ohm Daily) Shuts Down Operations
EV‑financing and leasing startup Ohm Mobility, later rebranded as Ohm Daily, has announced that it is winding down operations after five years of attempts to build a scalable business model. Co‑founder and CEO Nikhil Nair confirmed on LinkedIn that despite multiple pivots—including data‑driven financial products for gig workers—the startup failed to gain sufficient traction. Ohm had raised approximately INR 5 crore from investors such as Antler India, Blume Ventures, Catalyst Fund, and angel backers.
Swiggy Board Reshuffle: SoftBank and Accel Nominees Exit, Faraz Khalid Joins
In its most recent board restructuring, Swiggy has seen the resignation of Sumer Juneja (SoftBank nominee) and Anand Daniel (Accel nominee) as nominee directors, effective 25 July 2025. They have been replaced by Faraz Khalid, CEO of UAE‑based e‑commerce firm Noon, joining as an independent non‑executive director for a five‑year term, pending shareholder approval. This move is part of a governance transition following Swiggy’s public listing.
Government Bans 25 OTT Platforms, Including Ullu and ALTT for Explicit Content
The Indian government, via the Ministry of Information & Broadcasting, has ordered ISPs to block 25 OTT platforms—including Ullu, ALTT (ALTBalaji), Desiflix, Big Shots, Boomex, Navarasa Lite, and Gulab App—for allegedly streaming “obscene”, “vulgar” or pornographic content. Content flagged includes prolonged nudity and sexual visuals with minimal storyline, in breach of provisions under the Information Technology Act, 2000, and IT Rules, 2021. The ban follows earlier interventions by self‑regulatory bodies and child rights groups.
Elevation Capital Sells INR 226 Crore Stake in Ixigo Parent (Le Travenues)
Elevation Capital (formerly Saif Partners India) has divested 1.01 crore shares, worth approximately INR 226 crore in Le Travenues Technology Ltd, the parent company of Ixigo, reducing its stake from 9.04% to 6.45%. This marks the third such exit in recent months, following previous offloads worth INR 97.4 crore in June and INR 38.3 crore in May. The latest transactions were reportedly acquired by Schroder International Selection Fund, which now holds close to 5% of the company. The total exit proceeds now exceed INR 361 crore.
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