India’s business and startup ecosystem witnessed notable developments on 3rd October 2025. Luxury watch retailer Art of Time secured fresh capital to expand its presence, while IOC GPS Renewables raised significant debt funding to accelerate its clean energy projects. On the corporate front, Zomato’s parent Eternal rolled out substantial ESOP grants for employees, and Google announced layoffs impacting over 100 design roles amid its AI-driven restructuring.
Daily Indian Funding Roundup – 3rd October 2025
| Company | Amount | Round / Instrument | Lead investor(s) / Lenders | Sector / Use case |
|---|---|---|---|---|
| Art of Time | INR 175 crore | Series B | Mithun Sacheti, Siddhartha Sacheti, Plutus Wealth, Girish Mathrubootham | Luxury watch retail / omnichannel |
| IOC GPS Renewables (JV with IndianOil) | INR 836 crore | Debt financing | Indian Bank | Clean energy / compressed biogas (CBG) |
Art of Time raises INR 175 crore in Series B funding
Luxury watch retailer Art of Time has raised INR 175 crore in a Series B round led by existing investors including Mithun Sacheti (CaratLane), Siddhartha Sacheti, Plutus Wealth, and Girish Mathrubootham. The funds will be used to expand its retail presence, invest in inventory & technology, grow its team, and launch a new multi-brand concept “Circa” to target the bridge-to-luxury segment.
Indian Oil–GPS Renewables JV raises INR 836 crore in debt funding
IOC GPS Renewables (a joint venture between IndianOil and GPS Renewables) has secured INR 836 crore in debt financing from Indian Bank to develop 9 Compressed Biogas (CBG) plants across several states. The funding will be used to build CBG plants (each ~15 tonnes/day) in states like Haryana, UP, Chhattisgarh, and Andhra Pradesh, expected to be commissioned in 2026.
Key Business News for 3rd October 2025
Eternal (Zomato’s parent) grants INR 211 crore worth of ESOPs to employees
Eternal, the parent company of Zomato, has approved stock options valued at INR 211 crore under its ESOP plans to eligible employees. This grant is intended to reward, retain, and incentivize employees across its businesses, strengthening long-term commitment within the company.
Google lays off over 100 design roles amid AI-led restructuring
Google has eliminated more than 100 design and UX roles in its Cloud division, affecting teams in quantitative UX, platform & service experience, and related functions. The layoffs are part of a broader organizational shift as Google reallocates resources toward AI development, streamlines operations, and reduces non-core roles in its design and research verticals.
StartupTalky News
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