India’s startup ecosystem saw major activity on 24th September 2025. Gullak raised $7.5 Mn, Oolka $7 Mn, Good Capital launched a $30 Mn AI-focused fund, Xbattery secured $2.3 Mn, and P-Tal raised $3 Mn. In corporate news, Paytm Money partnered with JioBlackRock to launch an AI-driven equity fund, Srinivas Gopalan and Rahul Goyal were appointed CEOs of T-Mobile and Molson Coors, Gant named Shahid Kapoor as brand ambassador, Accenture plans a new campus in Andhra Pradesh, and PhonePe filed confidential IPO papers with SEBI.
Daily Indian Funding Roundup – 24th September 2025
| Company | Amount | Round | Lead investor(s) | Sector |
|---|---|---|---|---|
| Gullak | $7.5 Mn | Series A | Chiratae Ventures (with White VC, Samved Ventures) | Gold savings / Fintech |
| Oolka | $7 Mn | Seed | Lightspeed India Partners, Z47 (with participation from 8i Ventures) | AI / Fintech |
| Good Capital | $30 Mn | Fund II (VC fund) | Good Capital (committed by family offices) | Venture Capital / AI investing |
| Xbattery | $2.3 Mn | Seed | Bipin Patel Family Office (with Jhaveri Credits) | Deep tech / Battery technology |
| P‑Tal | $3 Mn | Series A | VC Grid, Rainmatter (alongside Connecticut Innovations, Anicut, Zeropearl, angels) | Kitchenware / Handcrafted home goods |
Gullak raises $7.5 Mn to expand gold savings platform
Fintech startup Gullak has raised $7.5 Mn in a Series A round led by Chiratae Ventures, with participation from White VC and Samved Ventures. The platform enables users to save in gold digitally, making wealth accumulation accessible and convenient. The funding will be used to scale operations, enhance technology, and expand user acquisition across India.
Oolka secures $7 Mn seed funding to grow AI-driven fintech
AI-powered fintech startup Oolka has raised $7 Mn in a seed round led by Lightspeed India Partners and Z47, with participation from 8i Ventures. The platform leverages artificial intelligence to deliver personalized financial solutions and improve customer experience. The new capital will help scale the technology, expand team, and increase market penetration.
Good Capital launches $30 Mn Fund II to back AI startups
Venture capital firm Good Capital has launched a $30 Mn second fund to invest in AI startups. The fund will focus on early- and growth-stage opportunities in AI-driven sectors, aiming to support innovative solutions and accelerate technology adoption in India.
Xbattery raises $2.3 Mn seed to innovate in deep tech batteries
Deep tech startup Xbattery has raised $2.3 Mn in a seed round led by the Bipin Patel Family Office and Jhaveri Credits. The company focuses on next-generation battery solutions, aiming to make energy storage more efficient, sustainable, and cost-effective. The funds will be used for R&D and scaling pilot projects.
P-Tal raises $3 Mn Series A to expand kitchenware brand
Handcrafted kitchenware brand P-Tal has raised $3 Mn in a Series A round led by VC Grid and Rainmatter, with participation from Connecticut Innovations, Anicut, Zeropearl, and angel investors. The funding will help scale production, expand distribution, and introduce new product lines, targeting home chefs and culinary enthusiasts.
Key Business News for 24th September 2025
Paytm Money partners with JioBlackRock to launch AI-driven equity fund
Paytm Money, the investment arm of Indian fintech company Paytm, has partnered with JioBlackRock to introduce the JioBlackRock Flexi Cap Fund, an AI-powered systematic active equity (SAE) fund aimed at retail investors. This collaboration aims to democratize access to advanced investment strategies, allowing Indian retail investors to invest with a minimum of INR 500 through lump sum or SIP options. The fund leverages BlackRock’s AI and machine learning techniques to analyze complex data sets and produce investment insights for nearly 1,000 Indian companies.
Srinivas Gopalan and Rahul Goyal appointed as CEOs of US giants
Srinivas Gopalan has been appointed as the CEO of T-Mobile, effective November 1, 2025, succeeding Mike Sievert. Gopalan, previously the Chief Operating Officer, has a background in digital transformation and 5G expansion. Rahul Goyal will assume the role of CEO at Molson Coors Beverage Company on October 1, 2025, replacing Gavin Hattersley. Goyal has been with the company since 2001, holding various senior positions, and is well-positioned to lead the company through changing consumer patterns and growing trade barriers in the US market.
Gant appoints Shahid Kapoor as brand ambassador in India
American sportswear brand Gant has appointed Bollywood actor Shahid Kapoor as its brand ambassador in India. The partnership debuts with the launch of Gant’s new campaign, “Button Up. Build Your Story,” which celebrates resilience, individuality, and self-expression. The campaign aims to deepen Gant’s connection with Indian consumers and bring them closer to the brand’s world of culture, lifestyle, and elegance.
Accenture plans new campus in Andhra Pradesh
Accenture, the world’s largest IT services company by market capitalization, is planning to establish a new campus in Visakhapatnam, Andhra Pradesh. This move is part of the Andhra Pradesh government’s policy to attract top IT firms by offering land at a highly subsidized rate. Accenture is expected to receive around 10 acres of land and plans to hire approximately 12,000 employees for the upcoming campus. The proposal is currently under review by the State Investment Promotion Committee and is anticipated to be cleared by mid-October.
PhonePe files confidential IPO papers with SEBI
PhonePe, a leading digital payments platform, has confidentially filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) worth $1.5 billion. The company is targeting a valuation of $15 billion. The confidential route allows companies to submit IPO documents privately before making them public, enabling more flexibility in planning and preparation. This move marks a significant step in PhonePe’s journey towards going public and accessing capital markets.
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