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  • Daily Indian Funding Roundup – June 3, 2025

    The funding space witnessed another active day as companies across finance, wellness, energy, and tech revealed major investments and capital raises. Here’s a breakdown of the most noteworthy funding updates from 3rd June 2025:

    Company Sector Funding Amount Funding Type Lead Investor / Partner
    Stable Money Fintech $20 million Series B Fundamentum Partnership
    Adani Energy Solutions Energy ₹4,300 crore ($502 Mn) QIP Share Sale Institutional Investors
    Gully Labs Fashion / Lifestyle ₹8.7 crore Seed Round Zeropearl VC
    GyanDhan EdTech / Fintech ₹50 crore Series A Classplus, Pravega Ventures
    Upurfit Sports Wellness Undisclosed Strategic Investment Jonty Rhodes (Angel Investor)

    Stable Money Raises $20 Million in Series B Round

    Stable Money, a fintech platform enabling fixed-income investment access for retail users, has secured $20 million in its Series B funding round. The investment was led by Fundamentum Partnership, co-founded by Nandan Nilekani. This fresh capital will be directed towards enhancing product capabilities, scaling operations, and expanding customer acquisition efforts.

    Adani Energy Solutions Approves INR 4,300 Crore QIP Share Sale

    Adani Energy Solutions Ltd. (AESL) has received board approval to raise INR 4,3oo crore ($502 million) via a Qualified Institutional Placement (QIP). The capital will bolster AESL’s infrastructure development and clean energy transition projects. This funding move aligns with the company’s expansion blueprint within India’s energy sector.

    Gully Labs Raises Rs 8.7 Crore in Seed Funding Led by Zeropearl VC

    Gully Labs, India’s homegrown sneaker brand known for blending cultural storytelling with premium craftsmanship, has raised INR 8.7 crore in its seed round, comprising INR 7.6 crore in equity and INR 1.1 crore in venture debt. The company had earlier secured INR 1.1 crore in equity during its pre-seed round in 2024. The fresh capital will be deployed towards diversifying the product mix, expanding sales channels, and opening physical retail stores.

    Gully Labs Raises INR 8.7 Cr Seed Round Led by Zeropearl VC
    Gully Labs, India’s culturally inspired sneaker brand, secured INR 8.7 crore in seed funding led by Zeropearl VC. The capital will be used to diversify products, grow sales channels, and open retail stores.
    StartupTalkyStartupTalky News

    GyanDhan Secures INR 50 Crore in Series A Funding

    GyanDhan, an education financing platform, has secured INR 50 crore in its Series A funding round from edtech leader Classplus and venture capital firm Pravega Ventures. The funds will help GyanDhan strengthen its tech infrastructure and expand its education loan offerings for Indian students pursuing studies abroad.

    Upurfit Welcomes Jonty Rhodes as Investor and Brand Ambassador

    In a blend of sport and wellness, South African cricket legend Jonty Rhodes has joined Indian sports wellness brand Upurfit as both investor and brand ambassador. The partnership aims to amplify the brand’s presence and promote fitness and recovery among athletes and enthusiasts.

    From billion-dollar funds to seed-stage innovations, today’s funding updates reflect a vibrant ecosystem all set to scale. Stay tuned for more developments in tomorrow’s roundup.

    Check out our Indian Startups Funding and Investors Data for 2025, updated weekly.

    Daily Indian Funding Roundup – June 2, 2025
    India’s startup ecosystem continues to show resilience and growth as several startups raised significant funding on 2 June 2025. Here’s a quick roundup of the major funding developments:
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  • GyanDhan Secures INR 50 Crore Series A to Scale Education Financing Across Tier 2 & 3 India

    • India’s First Education Loan Marketplace to Deepen Reach in Tier 2 & 3 Cities, and Scale Consultant Partner Network

    GyanDhan, India’s leading education financing platform, has raised Series A funding of INR 50 crore in its latest funding round from edtech leader Classplus and venture capital firm Pravega Ventures. Founded by IIT alumni Ankit Mehra and Jainesh Sinha, GyanDhan is on a mission to make higher education more accessible by leveraging technology to simplify and scale education financing for Indian students, both in India and abroad.

    The funding will enable GyanDhan to scale its operations and strengthen its leadership in the education financing ecosystem. The capital will be used to 

    • Scale the consultant partnership network and invest in technology to help streamline the end-to-end student financing journey
    • Expand its physical presence to 50+ Tier 2 and Tier 3 cities;
    • Double the number of partnered financial institutions from 15 to 30 banks and NBFCs;
    • Grow the team across tech, credit, and sales to support regional scale
    • Invest in community-building via seminars, student workshops, and financial literacy sessions

    With this strategic expansion, GyanDhan aims to drive loan originations worth INR 18,000 crore (~USD 2.1 billion) over the next three years, , up from the current INR 7,000 crore (~USD 840 million) in cumulative originations. The company will also tap into emerging opportunities in the skilling and executive education segments.

    “This fundraise is more than just capital—it’s a strong vote of confidence in our mission to democratize access to education. At GyanDhan, we’ve seen firsthand how the right financial support can change the trajectory of a student’s life. With this backing, we’re doubling down on building the infrastructure and technology that will unlock educational opportunities for millions of families across India,” said Ankit Mehra, Co-founder and CEO of GyanDhan.

    This round builds on prior capital raised from Education Catalyst Fund, Sundaram Finance, Stanford Angels, Harvard Angels, and angel investors, including Pravin Gandhi and Satyen Kothari.

    “We love resilient founders, and the GyanDhan team has displayed the DNA of surviving in a tough but massive TAM. Education financing will be a strong pillar of the evolving India and we are glad to be a part of this journey.” said Mukul Rustagi, Co-founder and CEO, Classplus.

    “Education financing in India sits at a powerful intersection of fintech innovation and social impact. GyanDhan’s dual strategy of marketplace scale and focused NBFC lending, combined with their SaaS platform, demonstrates exceptional market understanding. At Pravega Ventures, we’re backing their team to become the definitive gateway for education financing in India, addressing a massive gap in an underpenetrated market” said Spokesperson, Pravega Ventures.

    Despite a temporary slowdown in the global study abroad market due to macroeconomic headwinds and tighter visa norms, the long-term demand for international education remains fundamentally strong. Meanwhile, the rising cost of higher education—both in India and overseas—is intensifying pressure on middle-class family budgets. Yet, India’s education loan penetration remains under 20%, starkly lower than over 45% in developed markets like 

    the US, highlighting a substantial access and affordability gap. The current financing landscape is fragmented, leaving students and consultants to navigate a maze of disjointed options. 

    As the next wave of growth hinges on technology-led distribution, local presence, and embedded partnerships, GyanDhan’s hybrid marketplace + NBFC model, combined with its partner-first strategy, is uniquely poised to serve as the foundational infrastructure for education financing in India, at a time when students need it most.

    About GyanDhan

    Founded by Ankit Mehra and Jainesh Sinha, alumni of IIT Kanpur and IIT Delhi, GyanDhan is India’s first education financing marketplace. The company empowers Indian youth to pursue higher education through accessible and technology-driven financial products. 

    • Over INR 7,000 crore (~USD 840 million) in education loans have been originated to date
    • Operates a hybrid model: marketplace + own NBFC lending arm
    • Partners with 15+ financial institutions, including SBI, ICICI, and Credila
    • Collaborates with 100+ education consultants who use its proprietary SaaS platform
    • Active in 30 cities, with ongoing expansion into Tier 2 & 3 locations

    Daily Indian Funding Roundup – June 2, 2025
    India’s startup ecosystem continues to show resilience and growth as several startups raised significant funding on 2 June 2025. Here’s a quick roundup of the major funding developments:
    StartupTalkyStartupTalky News

  • Tata Electronics Eyes Malaysia Entry with Strategic Chip Fab Buyout

    Global semiconductor companies X-Fab, DNeX, and Globetronics are reportedly in negotiations with Tata Electronics to purchase a fabrication or outsourced semiconductor assembly and test (OSAT) facility in Malaysia.

    According to a media report, the deal will be spearheaded by KC Ang, the recently appointed president and head of Tata Semiconductor Manufacturing. For those who do not know, Tata Electronics’ semiconductor foundry is called Tata Semiconductor Manufacturing.

    According to the report, DNeX’s SilTerra facility and Globetronics are two of the top candidates to be purchased by Tata Electronics.

    Acquisition Aims to Further Strengthen Tata Group

    According to the article, the acquisition is intended to increase the Tata Group’s expertise and talent pool before it enters the Indian semiconductor assembly and packaging market. The Indian semiconductor industry is seeing significant investments from the Tata Group.

    With an investment of $11 billion, it is constructing India’s first semiconductor factory in Dholera, Gujarat. It is also spending $3 billion on a plant in Assam that will be used for semiconductor chip production and testing. OSAT activities will be the main emphasis of this initiative in Assam.

    Malaysia is emerging as a key site to become one of the world’s robust pillars in the global semiconductor chip supply chain in recent years. According to reports, 13% of the testing and packaging sector worldwide is based in the nation.

    Global chip manufacturer Intel has committed to investing $7 billion for its new plant in Penang, Malaysia, and the nation received an astounding $12.8 billion in foreign direct investments (FDI) in 2023.

    The Malaysian government last year announced the National Semiconductor Strategy, which will help the industry grow by enhancing the current infrastructure of OSAT facilities, luring more foreign direct investment, and opening doors for chip buyers like Apple and Lenovo to establish manufacturing facilities in the nation.

    Tata Electronics will be able to further acquire manufacturing-grade technology (MSGT) through the present acquisition, which is only available through well-established semiconductor companies.

    Tata Group Fostering Alliances in Semiconductor Space

    Tata Electronics has been forming partnerships with important semiconductor companies. To begin operations in Gujarat, the company inked a memorandum of understanding earlier this year with Powerchip Semiconductor Manufacturing Corporation (PSMC) and Himax Technologies, two Taiwanese semiconductor manufacturers, to produce display semiconductors.

    The collaboration intends to enhance its chip design and serve both parties’ clientele. In addition, the semiconductor behemoth collaborated with Tokyo Electron Limited (TEL) in 2024 to construct infrastructure for semiconductor equipment.

    However, the Indian government is also making investments to support the nation’s semiconductor sector. S. Krishnan, the secretary of the government of Electronics and IT (MeitY), stated in March that the government intends to launch the second India Semiconductor Mission (ISM) to assist the nation’s chip design infrastructure.

  • Microsoft Launches Fresh Layoff Round, Over 300 Employees Affected

    Microsoft has revealed that 305 workers would be let go in another round of layoffs. Less than three weeks have passed since the IT giant laid off over 6,000 workers worldwide in its most recent wave of layoffs. The Washington office’s more than 300 workers were let go.

    The corporation claims that the most recent layoffs represent much less than 1% of its whole workforce, though it did not confirm whether any additional employees outside of Washington were impacted.

    According to reports, Microsoft stated in an official statement that it is making the organisational adjustments required to best position the business for success in a changing environment.

    Software Engineers and Product Managers Taken a Massive Hit

    According to reports, the majority of the employees affected by this round of layoffs did not have managerial positions. Less than 17% of the impacted employees held management roles, suggesting that software engineers and product managers were the most severely affected.

    In less than a month, this is Microsoft’s second significant round of layoffs. Over 6,000 positions, or about 3% of the company’s global workforce, were cut in mid-May, marking the biggest employment reduction since 10,000 people were let go in early 2023. 1,985 of those recent layoffs were allegedly located in Washington.

    When combined with the most recent layoff total of 305, Microsoft has now let go of almost 2,300 workers in Washington this year.

    Microsoft has now stated that the more recent layoffs in May were unrelated to individual performance, although the corporation had implemented some performance-based job cuts earlier this year. Instead, the corporation has blamed organisational restructuring for the latest cuts.

    Microsoft’s Performance Based Terminations

    A distinct issue surrounded the January layoffs as Microsoft was accused of conducting performance-based terminations without providing severance or health benefits in certain instances.

    Employees were reportedly given quick termination notices and had their access to corporate systems terminated the same day, according to sources at the time. Microsoft has over 228,000 employees worldwide as of last year.

    The corporation claims that the layoffs only affect a small portion of its employees, but the frequent reductions demonstrate how Big Tech companies’ priorities are shifting in response to the rapid advancement of artificial intelligence.

    Many Silicon Valley tech businesses, including Google, Meta, and Amazon, have laid off thousands of workers in 2025 alone.

    Microsoft is placing a large bet on artificial intelligence at the same time as its firing frenzy. The business recently revealed plans to invest $400 million in Switzerland to build infrastructure for cloud computing and artificial intelligence.

    Microsoft declared earlier in January of this year that it would invest $3 billion in India to build AI infrastructure there, which would include building new data centres over the following two years.

  • Disney Announces 2025 Layoffs: Hundreds in Film, TV & Finance Hit in Cost-Cutting Drive

    A media outlet stated on June 2 that the media powerhouse The Walt Disney Company (Disney) was cutting off hundreds of workers from its corporate finance, television (TV), and film departments, according to a source.

    “The job cuts will affect teams worldwide, including casting and development departments, TV publicity, and film and TV marketing,” as per a media report. The majority of the impacted Disney Entertainment Television employees are based in Los Angeles, and the layoffs are reportedly distributed equally among the company’s TV and film divisions, according to another story.

    This is the fourth and biggest round of layoffs in the last ten months, the article continued. A manager of drama programming at ABC Hulu was among the lower-level development executives who were impacted, as were other Disney television divisions.

    Layoffs Becoming a Common Scenario in Disney

    Disney, the parent business, laid off about 200 workers, or nearly 6% of the workforce, from its ABC News Group and Disney Entertainment Networks divisions in March 2025.

    According to a media report, the Walt Disney Company restructured in October 2024, closing ABC Signature and combining its operations into 20th Television. It also merged the scripted drama and comedy teams from ABC and Hulu Originals.

    Disney Entertainment Television lost 20 positions as a result of the decision. According to a media report, Disney has already laid off 7,000 employees in 2023 in an effort to save about 5.5 billion dollars. In the same year that he announced his intention to reduce expenses, CEO Bob Iger set a target of $7.5 billion.

    Financial Outlook of The Walt Disney

    Of the 233,000 employees of the Walt Disney Company, slightly more than 60,000 are located outside of the United States. Disney owns a number of businesses in the entertainment sector, such as ESPN, Hulu, and Marvel.

    With total revenue for the first three months of the year of $23.6 billion, the company’s May earnings were better than anticipated. Compared to the same time in 2024, that represented a 7% gain. It claimed that new users of its Disney+ streaming service were the main driver of the expansion.

    This year, the studio has launched several new films, such as Snow White and Captain America: Brave New World. After receiving some unfavourable reviews, the live-action version of the classic Snow White animation movie did not do as well as anticipated at theatres.

    However, over the Memorial Day holiday weekend, Disney’s most recent film, Lilo & Stitch, set new box office records in the United States. Since its May premiere, the animated movie has sold over $610 million tickets worldwide, according to industry data company Box Office Mojo.

  • Gully Labs Raises INR 8.7 Crore Seed Funding Led by Zeropearl VC to Expand Product Lines and Sales Channels

    Gully Labs, India’s homegrown sneaker brand known for blending cultural storytelling with premium craftsmanship, has raised INR 8.7 crore in its seed round, comprising INR 7.6 crore in equity and INR 1.1 crore in venture debt. The company had earlier secured INR 1.1 crore in equity during its pre-seed round in 2024. The fresh capital will be deployed towards diversifying the product mix, expanding sales channels, and opening physical retail stores. 

    The equity round was led by Zeropearl VC, with participation from a strong cohort of marquee founders and angels, including Vivekananda Hallekere (Co-founder & CEO, Bounce), Suhasini Sampath (Co-founder, Yogabar), Nishchay AG (CEO, Jar), Ashutosh Valani (Founder, Renee Cosmetics), Anurag Ramadasan and Rahul Seth. Micro-funds such as Untitled Ventures and Atrium Ventures also participated in the round. Stride Ventures led the debt investment.

    Founded in 2023 by engineers-turned-founders Arjun Singh and Animesh Mishra, Gully Labs was born out of a desire to see Indian culture reflected in globally competitive products. From sneakers inspired by Phulkari embroidery to silhouettes referencing regional traditions and festivals, Gully Labs creates handcrafted, design-forward footwear that celebrates Indian identity with modern flair.

    Arjun Singh & Animesh Mishra, Co-founders, Gully Labs, said, “This round is a big step forward for us. We have always believed that Indian stories deserve a global stage not just in art and cinema, but in products people use and wear every day. With this backing, we are excited to scale our vision, grow our team, expand into physical retail, and bring even more culturally rooted, design-led sneakers to people across India and beyond. Above all, having the trust of such seasoned founders and investors gives us both confidence and responsibility as we build the next chapter of Gully Labs.” 

    Bipin Shah, Founder & Managing Partner, Zeropearl VC, stated, “At Zeropearl VC, we focus on backing brands that are authentically rooted in India, with strong design and product moats. Our Indiluxe thesis believes India’s affluent consumers should embrace premium homegrown brands over foreign ones. Gully Labs embodies this spirit, taking India’s rich cultural story to the world through sneakers that are 100% made in India. We’re proud to support their journey toward becoming a global ambassador of Indian craftsmanship.” 

    The investment will enable Gully Labs to build a larger production facility, broaden its product line across diverse sneaker styles, and deepen its reach across India and global markets. The company plans to launch exclusive retail outlets as part of its omnichannel strategy.

    About Gully Labs

    Founded in 2023, Gully Labs is a New Delhi-based sneaker company redefining what it means to wear premium sneakers from India. Started by former engineers Arjun Singh and Animesh Mishra, the brand was born from a simple question: why didn’t Indian culture feel cool enough for Indians?

    Gully Labs crafts handmade sneakers in Delhi, blending premium materials with culturally rich design stories — from Phulkari-embroidered trainers to Onam-inspired silhouettes. Each pair is a tribute to the streets, festivals, and everyday icons of modern India.

    Available online at gullylabs.com, in select partner stores across Indian metros, Gully Labs has been featured in Vogue, GQ, Bazaar, and Economic Times, and worn in films like Pushpa 2, proving that homegrown can be world-class.’

    Daily Indian Funding Roundup – June 2, 2025
    India’s startup ecosystem continues to show resilience and growth as several startups raised significant funding on 2 June 2025. Here’s a quick roundup of the major funding developments:
    StartupTalkyStartupTalky News

  • Meesho Unveils INR 411 Cr Bonus Share Plan Ahead of IPO

    A plan to issue 411.4 Cr bonus shares has been authorised by Meesho’s shareholders before the e-commerce giant files its draft red herring prospectus (DRHP) with SEBI, the market regulator.

    The proposal to issue bonus shares of INR 1 each to equity owners in a 47:1 ratio was accepted by the members at an extraordinary general meeting on May 31, according to the company’s MCA filings.

    The filing stated that the board of directors has been given the members’ consent to issue 411.4 Cr bonus equity shares worth INR 1 each, which will be credited as fully paid-up shares to the holders of the company’s existing equity shares.

    The company’s paid-up share capital will rise from INR 8.7 Cr to INR 420.1 Cr after the allocation. Tiger Global Management, Peak XV Partners, Prosus, Meta, and Think Investments are among the backers of the Bengaluru-based e-commerce giant.

    Meesho’s IPO Preparations

    By the end of 2025, the e-commerce giant is reportedly hoping to generate up to $1 billion through its first public offering (IPO). For its initial public offering (IPO), the startup has selected Morgan Stanley, Kotak Mahindra, and Citi as its bankers.

    According to reports, the investors suggested valuing the public offering at $10 billion. In order to improve brand memory among its stakeholders prior to its eventual stock market offering, the business rebranded its parent corporation from Fashnear Technologies Private Limited to Meesho Private Limited last month.

     Similar actions have previously been taken by consumer services titan Swiggy, fintech unicorn Moneyview, and fast commerce startup Zepto. Meesho was first established in 2015 as a social commerce firm by Vidit Aatrey and Sanjeev Barnwal. In 2022, though, it switched to a marketplace model in order to compete with Amazon and Flipkart.

    Meesho Focusing on Tier II, III and Beyond Cities

    Meesho sells unbranded goods like clothes and cosmetics to consumers in tier II, tier III, and beyond, while Flipkart and Amazon are more well-known in tier I cities. These cities account for over 80% of the startup’s income.

    It’s interesting to note that Meesho depends on advertising and marketing revenue from merchants rather than commission fees on its platform. So far, it has raised over $1.6 billion in capital, with investors including Trifecta Capital, Elevation Capital, and Mars Grow Capital.

    Although the e-commerce platform has not yet released its FY25 figures, it was able to reduce its standalone net loss from INR 1,675 Cr in the previous fiscal year to INR 305 Cr in FY24, an 82% decrease.

    From INR 5,734.5 Cr in FY23 to INR 7,615 Cr in the year under review, operating revenue increased by almost 33%. Flipkart, Meesho’s competitor, is also preparing for a first public offering.

    Joining the lengthy list of cutting-edge internet companies that have moved their headquarters to India or are in the process of doing so in order to list on the Indian bourses, the e-commerce behemoth said in April that it would reverse flip to India. Razorpay, Zepto, PhonePe, Groww, Pine Labs, and Eruditus are a few examples of these names.

  • Uber Delivery Chief Gore-Coty Exits After Nearly 13 Years

    On June 5, Uber announced the departure of Pierre-Dimitri Gore-Coty, the head of its delivery division and one of the company’s longest-tenured top executives, after nearly 13 years.

    According to his LinkedIn page, Gore-Coty began his career with Uber in 2012 as a general manager in France and rose to the position of vice president of mobility for the Europe and Middle East area four years later. In 2021, he was appointed senior vice president of delivery.

    In a statement included in a regulatory filing, CEO Dara Khosrowshahi stated, “It’s difficult to imagine Uber without Pierre, because there hasn’t been much Uber without Pierre.” “He was a key contributor to our global mobility expansion as one of our first employees and took over as CEO of Uber Eats just weeks before the first Covid lockdowns.”

    Andrew Macdonald to Get Promoted

    Uber said that senior vice president of mobility and business operations Andrew Macdonald will take over as chief operating officer, reporting to Khosrowshahi.

     According to the filing, Macdonald, 41, will be in charge of the company’s autonomous, global mobility, and delivery operations in addition to “key cross-platform functions like membership, customer support, safety, and more”.

     Uber’s executive team page lists 11 individuals, including Gore-Coty. The only person with a longer tenure at the company is Macdonald. According to LinkedIn, he started in May 2012, four months ahead of Gore-Coty.

    According to Gore-Coty’s statement, these 13 years have been an unforgettable experience. He went on to say that it was a real team effort and that he is really pleased with the work his team has done and the influence Uber has had on day-to-day living in cities all around the world.

    Uber Expanding its Business Portfolio

    With the changes taking effect immediately, Uber has been attempting to diversify its company in order to spur development as its core North American market shows indications of saturation. Rivals like DoorDash and DASH.O have been fiercely competing with Uber’s delivery service.

    Uber agreed to pay $700 million last month to buy the majority of 85% of Trendyol Go, a Turkish grocery and food delivery service. The business just revealed first-quarter statistics that fell short on revenue but beat on earnings.

    The Federal Trade Commission filed a lawsuit against Uber a month prior, claiming that the business had used “deceptive billing and cancellation practices” in connection with its Uber One subscription program.

    Macdonald will move from Toronto to New York, where Khosrowshahi and other corporate executives are headquartered. He will get $5 million in stock, contingent on meeting performance and time goals.

  • Jonty Rhodes Invests in UpUrFit, Joins as Brand Ambassador to Power India’s Booming Sports Wellness Market

    Jonty Rhodes, widely regarded as one of the greatest fielders in the history of cricket, has joined hands with India-grown sports and fitness brand UpUrFit as a strategic investor and brand ambassador.

    Co-founded by Indian entrepreneurs Munish Vig and Vikram Gunjal, UpUrFit aims to address the underserved needs of Indian fitness and sports enthusiasts through products designed for performance, recovery, and hygiene, with a focus on clean ingredients and real efficacy.

    Speaking on the association, Jonty Rhodes said, “What struck me about UpUrFit was the clarity of its mission. When Vikram and Munish first approached me, it wasn’t about signing up a celebrity endorsement. Their focus was on product relevance, clean ingredients, and true performance. My family and I tried the products ourselves, and that’s when I knew I wanted to be part of this journey. I’m excited to support UpUrFit not just as a face, but as a strategic investor committed to building value.”

    Launched in 2023, UpUrFit is quickly establishing itself as a disruptor in India’s sports wellness space, focusing on the fast-growing market for pain relief, recovery, and hygiene solutions. The brand operates within a broader industry projected to reach USD 40 billion by 2030, growing at a CAGR of 19%, according to a joint report by Deloitte and Google. With increasing consumer emphasis on fitness, preventive care, and performance recovery, UpUrFit is bridging the gap between everyday athletes and high-quality, accessible wellness solutions.

    Commenting on the partnership, Vikram Gunjal, Co-founder at UpUrFit, said, “For us, Jonty isn’t just a cricketing icon. He represents resilience, commitment, and performance. He’s the ideal mentor and gospeller for a brand like ours that is built for the athlete in every Indian. His belief in our products and now in our mission is a huge validation of what we’re building.”

    Munish Vig, Co-founder, added, “The turning point for us was Jonty’s feedback. He shared detailed insights on what athletes and fitness enthusiasts truly need, and his perspective has already shaped our upcoming product roadmap. His involvement goes far beyond brand value. It’s product leadership and strategic insight in action.”

    With a growing portfolio and a purpose-driven approach, UpUrFit is looking to script the next chapter of India’s fitness story—built on science, endorsed by legends, and made for everyday performance. 

    About UpUrFit

    UpUrFit is India’s first sports & fitness care brand built with the vision to enable long term commitment to an active lifestyle. This is accomplished via scientifically researched products with clean and effective ingredients that vanquish the barriers of pain and discomfort. Given the growing awareness around health & fitness among Indians and heightened enthusiasm of pursuing sports and fitness, UpUrFit is a brand that listens to the unmet calls of this community.

    UpUrFit is co-founded by Munish Vig and Vikram Gunjal, who are themselves big sports & fitness enthusiasts. The products have been co-created with the fitness community, with multiple football teams and running groups instrumental in product feedback and development. The UpUrFit team has sports professionals as well as industry experts, reflecting the brand values of Performance, Science and the need to be better every day.

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  • SMBC to Seek RBI Nod for Full-Owned Subsidiary Before Yes Bank Stake Deal

    According to a media source, Sumitomo Mitsui Banking Corporation (SMBC) plans to apply for a licence from the Reserve Bank of India (RBI) to run a fully owned subsidiary in India. The action is a component of the Japanese conglomerate’s strategy to take over Yes Bank.

    Before State Bank of India (SBI) and other lenders sell their remaining approximately 14% interest to the Japanese conglomerate, SMBC requires the banking regulator’s approval to establish a wholly owned subsidiary in India, according to sources mentioned in the paper.

    As per the report, SMBC, which has four branches in India, intends to switch from the branch format to a full-fledged subsidiary model in order to make it easier to acquire the majority of Yes Bank.

    According to the article, the conglomerate has already received “verbal assurance” from the RBI that it will be permitted to keep a controlling interest in the private lender with its headquarters in Mumbai.

    RBI Granting Approvals to Foreign Players

    The RBI recently gave Emirates NBD Bank PJSC, the most probable leading candidate to purchase a share in IDBI Bank, in-principle approval to establish a wholly owned subsidiary in India.

     The RBI granted the Indian division of the Singapore-based DBS Group a permission to operate as a wholly owned subsidiary in 2019.

     On May 9, Yes Bank declared that, for around INR 13,480 crore, SMBC would purchase a 20% interest from its stakeholders, which included SBI and a number of other Indian banks that had taken part in its 2020 rehabilitation plan.

     It is also anticipated that the Japanese banking behemoth will contribute new funds to the private lender, amounting to an extra 6-7% of the company.

    SMBC and Yes Bank Deal

    A significant change in the ownership and control of the bank would occur if the money injection were to occur since SMBC could have to make an open offer to Yes Bank shareholders, increasing its overall interest to as much as 51%.

    Furthermore, on May 28, Yes Bank declared that its Board of Directors would convene on June 3, 2025, to examine a proposal for capital raising by the sale of debt securities, equity shares, or other suitable financial instruments.

    SMBC, which in 2021 purchased the non-bank finance company Fullerton India Credit and rebranded it as SMFG India Credit, may wish to combine Yes Bank with itself, pending RBI approval.

     As per the reports, having a wholly owned subsidiary, a majority position in a publicly traded private bank, and a 100% stake in a non-banking financing company (NBFC) would require overlapping a number of business operations.