Amazon is in legal trouble. The company agreed to pay $2.5 billion because, according to the US Federal Trade Commission (FTC), it tricked its customers into becoming Prime members and made it hard to cancel them. So goes against consumer rights, and so they had to settle for paying back the customers and a fine to the government. This settlement is now called historic because it’s the largest civil penalty for an FTC rule violation ever. The news made headlines on September 25, and many were left wondering with questions. So, who is getting the refund? How will the money be split? For that, learn more.
FTC official Press Release
How Is the $2.5 Billion Split?
$1 billion → Will go to the US government as a fine for violating the law.
$1.5 billion → Will go as a refund to its customers who unintentionally signed up and had trouble cancelling their Prime subscription.
Why Amazon Settled?
When the trial started in Seattle, the FTC’s side of the case looked clearly stronger.
Amazon, on the other hand, after realising that it’s not easy to stretch the fight, decided to settle for the pay. So, there were no long trials.
However, Amazon didn’t admit that it did anything wrong (but still has to pay the fine).
It only said it wants to go for a settlement to avoid years of legal battles.
Refunds for Customers
Amazon is in preparation to set up a claims process for its 30 million+ customers (who may have been affected by the cancellation issues).
It will refund to anyone who has accidentally taken the membership via Single Page Checkout between June 23, 2019, and June 23, 2025.
They may get up to $51 within 90 days.
What the FTC Said?
According to the FTC, Amazon has clearly made it hard to buy items without signing up for Prime.
The buttons on the platform didn’t clearly say that the user is signing up for Prime.
It made the cancellation difficult, as it required confirming cancellation on three separate pages.
Legal Battle Timeline:
The matter came to the attention of the FTC in 2021, and it had a keen eye on Amazon’s practices.
It filed a lawsuit in 2023 under FTC Chair Lina Khan, an antitrust expert.
And according to the FTC’s Restore Online Shoppers’ Confidence Act (2010), a user should be clearly educated on the charges before paying.
Settlement Rules for Amazon Going Forward:
Amazon should no longer trick its customers.
It should clearly show costs and get the customer’s consent.
Must have an easy-to-use cancellation process in place.
Starbucks announced on 25 September that it is cutting off 900 non-retail workers and closing hundreds of outlets across the United States, Canada, and Europe in order to concentrate more of its resources on a turnaround.
The massive coffee chain from Seattle said that store closures will begin right away. Starbucks stated that severance compensation and, if feasible, transfers to other locations will be provided to the impacted baristas.
The majority of the closures seem to be in the United States and Canada, though the firm did not specify how many stores are closing. Starbucks stated that by the end of its fiscal year, it anticipates having 18,300 outlets in North America.
The corporation operated 18,734 sites as of June 29. Andrew Charles, an analyst at TD Cowen, predicted in a research note released on 25 September that Starbucks would eliminate about 500 locations in North America during its fiscal fourth quarter.
Starbucks Stores in U.K., Austria and Switzerland to Close Soon
Starbucks Chairman and CEO Brian Niccol announced in a letter to staff members in Europe that some of the company’s outlets in the United Kingdom, Austria, and Switzerland will also be closing. Additionally, Starbucks did not specify the number of locations that will be affected in those countries. According to Starbucks, non-retail staff members whose jobs are being cut will be notified.
“A review of the company’s stores identified locations where the company doesn’t see a path to financial stability or isn’t able to create the physical environment customers expect,” Niccol wrote in a letter issued to employees. According to Niccol, the corporation opens and closes coffee shops annually for a number of reasons, including lease expirations and financial performance. The brand is aware that partners and customers would be impacted by this more important move.
Starbucks coffee shops are community hubs, so shutting any of them is challenging. According to Starbucks, the restructure would cost $1 billion, which includes $150 million for employee separation benefits and $850 million for the liquidation of the physical store and lease termination costs.
No Clarity on Number of Starbucks Stores to be Shut
The number of unionised stores closing was not immediately apparent. Since 2021, employees at 650 Starbucks locations controlled by the firm have voted to become a union, but they have not yet been able to come to an agreement with the business. The labour organisation that organises employees, Starbucks Workers United, stated on 25 September that the closures were carried out without consulting Starbucks baristas.
In order to guarantee that employees can be transferred to another store of their choosing, the union stated that it plans to negotiate at each union-represented store that is closing.
Just over a week after unionised workers in three states sued Starbucks over its new dress code, claiming the business would not pay staff who had to purchase new attire, news of the store closures broke. Starbucks claimed that union presence did not play a role in the selection of the closing locations, which were made based on a consistent set of criteria.
Quick Shots
•900
non-retail employees to be laid off as part of the turnaround plan.
•Store
closures to begin immediately, with transfers or severance offered where
possible.
•North
America outlets expected to reduce from 18,734 to 18,300 by fiscal year-end;
around 500 closures projected in Q4 FY26.
•European
closures in UK, Austria, and Switzerland announced; exact number of stores
not specified.
Reliance Consumer Products Ltd (RCPL), a fast-growing arm of Reliance Industries, has announced a major step to transform India’s food manufacturing sector. The company has signed a INR 40,000 crore Memorandum of Understanding (MoU) with the Ministry of Food Processing Industries. The plan aims to set up integrated food parks across the country and create “Asia’s largest food parks” using advanced technology and sustainable solutions.
Reliance’s Big Bet on Food Processing
The MoU was signed at the World Food India 2025 event held in Delhi. According to RCPL, these food parks will use Artificial Intelligence (AI), robotics, and automation to modernize India’s food processing landscape. This move is expected to boost domestic production capacity, reduce reliance on imports, and create thousands of new jobs.
Reliance Industries had first announced this vision during its Annual General Meeting (AGM) in August. At the AGM, the company highlighted plans to invest more than INR 1,500 crore in advanced food manufacturing hubs in Katol, Nagpur (Maharashtra), and Kurnool (Andhra Pradesh). These hubs will focus on food products and beverages, strengthening Reliance’s presence in the FMCG space.
RCPL’s Rapid Growth in FMCG
In just three years, RCPL has emerged as one of India’s fastest-growing FMCG players. The company has already crossed INR 11,000 crore in revenue. It has expanded its portfolio through acquisitions such as Tagz Foods and launched several in-house brands, including Campa, Independence, Alan’s, Enzo, and Ravalgaon.
RCPL was earlier a part of Reliance Retail but now operates as a direct subsidiary of Reliance Industries. This structure has allowed it to scale faster and compete with leading FMCG companies in India.
At the AGM, Isha Ambani, Director of Reliance Industries, called RCPL one of the group’s key “growth engines.” She stated that the company’s goal is to reach INR 1 lakh crore in revenue within the next five years and expand globally. She also added that the FMCG business would act as a “blueprint for expansion” into other consumer areas like apparel and electronics.
Conclusion
Reliance’s INR 40,000 crore investment marks one of the largest commitments in India’s food processing sector. By combining technology, scale, and sustainability, RCPL is not only aiming to become the largest FMCG company in India but also positioning itself for a global presence. The integrated food parks are expected to reshape India’s food manufacturing industry and open up new opportunities for farmers, suppliers, and consumers alike.
Meta has launched a new AI video-generating feature called “Vibes” on Thursday (September 25, 2025). It’s similar to TikTok, YouTube Shorts, or Instagram Reels, but created using AI (or enhanced by AI). The tool has several characters and cartoons, so you can make your dog dance and your cat sing. So, making fun reels has just got easier with Vibes. The feature is a part of Meta’s big push to make AI a bigger part of the company (in short, make more money). And many wonder if the videos look real or are AI? How can you make one yourself?
Image Credits: Meta
Where Can You Use It?
The new feature is available:
On the Meta AI app
On the website meta.ai
The feature has already rolled out on both platforms.
What Can You Do With Vibes?
You can create videos from scratch: Just share your idea and see how “Vibes” can create a brand new video.
Use existing content: Give what you have (raw videos) and ask the “Vibes” to make a creative video using your them.
Remix videos: You can also take videos from the Vibes feed and remix with yours.
Add extras: You can add new visuals, music or effects to the videos.
Once Your Video Is Ready, What’s Next?
You can upload the video directly to the Vibes Feed.
You can share the video on Instagram or Facebook, like in stories, reels or on any other platform.
Note: Meta will soon add more cartoons and characters to the feature.
Image Credits: Meta
Why Meta Launched “Vibes?”
Notably, Meta generated revenue of $165 billion last year.
The company faced issues with its Llama 4 AI model and lost some staff (several high-profile AI professionals left the company).
Meta reorganised itself (a new division called Superintelligence Labs in June), and the restructuring happened even last month as well.
A new feature is launched in hopes of bringing in new money.
How to Make a Video With Vibes?
Go to meta.ai or open the Meta AI app on your phone or pc.
Log in via your Facebook or Instagram account.
Click on the Meta AI icon at the bottom.
Type in your prompts to the AI to make in Vibes and click Generate.
The Meta AI will give you different video options, so pick one from them.
Add the music and effects you like.
When all is done and you’re happy with the output, you can download, share, or post your video to Vibes or Instagram/Facebook.
OpenAI is making ChatGPT smarter and more personal with a new feature called Pulse. Instead of waiting for questions, Pulse creates a daily morning report with tailored updates, reminders, and suggestions. It connects with apps like Gmail and Google Calendar to help users plan their day better.
What is ChatGPT Pulse?
OpenAI has introduced a new feature called ChatGPT Pulse, designed to give users personalized daily updates. Instead of waiting for questions, Pulse works in the background and prepares a morning bulletin with information that matters to each user.
The feature uses asynchronous research, meaning ChatGPT gathers data during the night from your chat history, memory, and preferences. In the morning, it presents a set of visual cards that are easy to scan. Each card may contain follow-ups on topics you often discuss, recipe suggestions, fitness goals, or even reminders.
OpenAI explains that the idea is to make ChatGPT shift from being only reactive to becoming proactive and personalized. CEO Sam Altman described it as treating ChatGPT like a “super-competent personal assistant” that can anticipate needs instead of only responding to prompts.
How It Works
ChatGPT Pulse connects with services like Google Calendar and Gmail to provide context-aware updates. For example, if you have a trip on your calendar, Pulse might suggest travel tips, restaurant recommendations, or create a draft itinerary. If a friend’s birthday appears on Gmail or your calendar, it can remind you to buy a gift.
Each report lasts only for that day, but if you save or follow up on a card, it becomes part of your chat history. Users can also shape the experience by using a “curate” button to tell ChatGPT what they want to see more or less of. For example, you can ask for a Friday roundup of local events or request that certain topics be skipped.
Feedback is simple: users can give a thumbs up or thumbs down on updates, and this will refine future reports. Over time, the system learns your preferences and becomes more accurate in its suggestions.
Availability and Comparisons
Currently, ChatGPT Pulse is in preview and available only for Pro subscribers on mobile devices. The Pro tier is priced at $200 per month, and OpenAI plans to bring the feature to Plus users in the future.
The daily reports are meant to help people save time by gathering useful information before they even ask. OpenAI compared Pulse to a morning briefing, while others have noted its similarity to Samsung’s Now Brief, which uses Galaxy AI to pull data from apps like calendar, weather, and health.
Pulse is still being tested, and OpenAI says feedback from early users will shape its development. The goal is to make it more helpful and eventually roll it out to a wider audience.
Conclusion
With ChatGPT Pulse, OpenAI is pushing its chatbot beyond simple Q&A. By combining personal data, memory, and external apps, it aims to act like a proactive assistant that prepares you for the day ahead. Though still limited to Pro users, Pulse shows the company’s vision of a more personalized and intelligent AI experience.
As it prepares for significantly slower growth in fiscal 2026, Accenture is laying off employees, selling off assets, and restructuring some aspects of its company. This highlights the growing burden on the global IT industry despite ongoing investments in cloud and artificial intelligence.
CEO Julie Sweet stated on the company’s September 25 earnings call that the company is letting go of employees on a shortened schedule when retraining is not a practical option for the skills the company requires.
Although she did not reveal how many people were laid off, Accenture’s employment decreased by about 7,000 employees in the fourth quarter of FY25, bringing its total headcount down to about 770,000.
Accenture’s Business Optimisation Programme
The company has started a business optimisation programme that consists of two parts: the divestment of two acquisitions that are no longer in line with its strategic aims and a rapid “talent rotation” that covers severance costs associated with accelerated workforce reductions.
According to CFO Angie Park, Accenture anticipates charging roughly $250 million in Q1 FY26, or $865 million over six months, which will include both asset impairments and severance costs.
She went on to say that these steps will save money, which will be used to support the company’s workforce and operations. The layoffs coincide with slowing growth and declining customer demand. “While there are still areas with high demand for AI, overall growth in our major markets is slowing down,” Sweet stated.
Accenture’s Future Plans
In local currency, Accenture now forecasts FY26 revenue growth of only 2–5%, down from 7% the previous year. A 1–1.5% drag from its U.S. federal business, which has been impacted by disruptions under Elon Musk’s new Department of Government Efficiency (DOGE), which has restructured IT procurement, is not included in the projection.
Accenture stated that it will keep hiring and reskilling in priority areas in spite of the cuts and that staff growth in the US and Europe is still anticipated in FY26. Following the earnings release, investors’ reaction to the Nasdaq-listed company’s lowered growth estimate caused its shares to drop by roughly 2%.
Its layoffs reflect difficulties in the industry as a whole; India’s largest IT company, Tata Consultancy Services, has already let go of over 12,000 workers this year, citing a lack of skills and waning demand.
Quick
Shots
•Company to lay off employees, divest
non-core businesses, and book charges for restructuring.
•Workforce shrinks by 7,000 in Q4
FY25, bringing total headcount to around 770,000.
•Business optimisation plan includes
divesting two acquisitions and accelerating “talent rotation.”
•Accenture expects to book $250
million in Q1 FY26 and $865 million over six months for asset impairments and
severance.
•Revenue growth forecast slashed to
2–5% for FY26, down from 7% last year.
According to a report released on 25 September, the Reserve Bank of India’s monetary policy committee (MPC) is expected to keep the repo rate at its current level in its October review, taking into account the favourable effects of the GST reforms on demand, the stronger-than-expected Q1 FY26 GDP growth, and an inflation trajectory that is predicted to slope upwards after that.
Because of the rationalisation of the GST, the inflation trajectory remained lower (the average for FY2026 is currently 2.6%). According to ICRA’s analysis, the transmission of the previous 100 bps rate drop is considered to be muted for outstanding deposits (-18 bps) but practically complete for fresh deposits (-94 bps).
What Report Further Stated?
The weighted average lending rate also decreased by 60 basis points for new loans, while it eased by 42 basis points for existing loans. It is believed that there won’t be any more notable transmission to loan rates in the upcoming months.
The analysis predicts that the yield curve will continue to be steep and that the 10-year G-sec yield for the government bond market will trade between 6.40 and 6.60%. This is because long-term yields stay sticky due to demand-supply dynamics and fiscal concerns, while short-term rates are kept stable by easy liquidity.
According to the paper, after a US Fed rate drop, the gap between the 10Y India G-sec and the 10Y US Treasury yield widened considerably, from 209 bps at the end of June 2025 to 236 bps in September 2025. Due to advance tax outflows, the systemic liquidity surplus declined in September 2025 after being significant in June and August of that year.
Good News Ahead of Festive Season
The report added that G-sec redemptions (INR 1.0 trillion) in early November 2025 and a 75 bps CRR drop that is still due during October–November 2025 are anticipated to improve liquidity and counteract the strain of currency leakage during the festive season. Variable Rate Repos (VRRs) may be maintained by the RBI to control sporadic tightness.
In comparison to previous projections, the research projects that GST rationalisation will reduce headline CPI inflation by 25–50 basis points between Q3 FY2026 and Q2 FY2027. “Average CPI inflation for FY2026 is now projected at around 2.6% (against 3.0% earlier),” said the report.
Quick
Shots
•GST reforms boost demand while
keeping inflation lower; FY26 average CPI now seen at 2.6% vs. 3.0% earlier.
•Muted transmission of the previous
100 bps rate cut: new deposit rates fell 94 bps, lending rates down 60 bps.
•10-year G-sec yield expected to stay
between 6.40%–6.60%, with a steep yield curve persisting.
•India–US bond yield gap widens to 236
bps post Fed rate cut.
•Liquidity to improve in November with
INR 1 trillion G-sec redemptions and a 75 bps CRR cut expected.
Curefoods India Limited, an internet-driven multi-brand food services company offering comprehensive cuisines catering to a range of consumer preferences and dietary needs, has raised Rs 160 crore (Rs 159,49,99,972) in a pre-IPO placement, allotting 1.28 crore equity shares at Rs 124 per share to 3State Ventures Pte. Ltd. This placement was approved by the Board through resolution dated September 10, 2025, and by shareholders through resolution dated September 15, 2025, and will be factored into the sizing of the fresh issue under SEBI ICDR norms.
Promoted by Ankit Nagori, Curefoods has emerged as one of India’s largest cloud kitchen operators, with a portfolio of popular food brands including EatFit, Nomad Pizza, CakeZone,Frozen Bottle, and Sharief Bhai, as well as tie-ups such as Krispy Kreme. The company has scaled rapidly by leveraging technology, standardised operations, and a multi-brand strategy to tap into India’s growing demand for quality and convenient food delivery.
The Company had earlier filed its DRHP in June 2025 with SEBI for a proposed IPO comprising a Fresh Issue of up to Rs 800 crore and an Offer for Sale (OFS) of 4.08 crore equity shares by existing shareholders. Please note that Ankit Nagori is not participating in OFS.
According to its DRHP, the net proceeds from the fresh issue will be deployed towards: (i) expansion of cloud kitchens, kiosks, restaurants and related infrastructure, (ii) prepayment or repayment of certain borrowings, (iii) investment in subsidiary Fan Hospitality, (iv) funding working capital requirements, and (v) general corporate purposes.
JM Financial Limited, IIFL Capital Services Limited (formerly known as IIFL Securities Limited) and Nuvama Wealth Management Limited are the Book Running Lead Managers to the issue.
About Curefoods India Limited
Curefoods ranks among the top two leading cloud kitchen companies in India in terms of service locations covered, as of March 31, 2025. It is also the fastest-growing food services company in the country based on revenue from operations in Fiscal 2025, and is notably the first food services company in India (excluding food delivery marketplaces) to surpass annual revenues of Rs 7,500 million within its first five years of operations (Source: RedSeer Report).
Its portfolio of Key Brands includes EatFit, CakeZone, Nomad Pizza, Sharief Bhai Biryani, Olio Pizza, Frozen Bottle, Millet Express, and Krispy Kreme—each tailored to appeal to specific consumer preferences. These brands are designed to address various price points, cuisines, and taste preferences, as well as multiple meal occasions throughout the day. The company follows a multi-brand strategy, enabling it to cater to a wide customer base and meet the needs of different consumer segments. Through its diverse brand offerings, Curefoods serves a range of demands from healthy meals to indulgent treats, and from breakfast through to lunch, snacks, and dinner.
As of March 31, 2025, Curefoods had a presence across 502 service locations in more than 70 cities and towns in India. Its offline network comprises five central kitchens, 281 cloud kitchens, 99 kiosks, 122 restaurants, and 13 warehouses, strategically located in high-footfall areas to maximise accessibility.
The company’s online reach is driven by strong integration with leading food delivery platforms such as Swiggy Limited and Eternal Limited (formerly Zomato Limited, including “Zomato”), along with its proprietary website that offers seamless ordering and payment options. Its supply chain infrastructure includes 13 dedicated warehouses located in proximity to its operational hubs, supporting efficient resource management and timely ingredient delivery.
As of March 31, 2025, Curefoods operated a portfolio of 10 Key Brands defined as brands that generated revenues of more than Rs 240 million in Fiscal 2025. Curefoods’ revenue from operations increased from Rs3,820.42 million in Fiscal 2023 to Rs 7,457.96 million in Fiscal 2025, reflecting a compound annual growth rate (CAGR) of 39.72%. Its service location footprint has expanded steadily, growing from 277 locations as of March 31, 2023, to 364 as of March 31, 2024, and further to 502 as of March 31, 2025. The company also entered international markets in 2024 with the launch of Sharief Bhai in the United Arab Emirates (UAE). This expansion has led to a significant rise in order volumes from 11.38 million in Fiscal 2023 to 15.82 million in Fiscal 2024, and to 18.23 million in Fiscal 2025. The Key Brands contributed 95.32% of Curefoods’ revenue from operations in Fiscal 2023, 97.98% in Fiscal 2024, and 98.35% in Fiscal 2025.
India’s fintech sector has come under fresh pressure as the Reserve Bank of India (RBI) cracked down on Simpl, a popular buy-now-pay-later startup. The regulator has ordered the Bengaluru-based company to suspend all payment activities, citing violations of payment laws. This marks another setback for the firm, which is already facing investigations from the Enforcement Directorate (ED) and struggling with layoffs.
RBI Action Against Simpl
The Reserve Bank of India (RBI) has directed Bengaluru-based fintech startup Simpl to immediately stop all payment operations. In a letter dated September 25, reviewed by The Economic Times, the central bank said that Simpl was running payment, clearing, and settlement functions without a valid Certificate of Authorisation. This, the RBI stated, violates provisions of the Payment and Settlement Systems (PSS) Act, 2007.
Simpl is known for its buy-now-pay-later (BNPL) model, where customers can shop from partner platforms and repay bills after 15 days without interest. The platform powers payments for leading companies including Zomato, BigBasket, Rapido, MakeMyTrip, 1MG, Crocs, and Box8. According to its website, Simpl works with more than 26,000 merchants.
The RBI’s directive comes at a time when the regulator is tightening its oversight of digital payments and fintech companies. Recently, it also issued new master directions for payment aggregators, expanding compliance rules for online and offline players.
ED Case and FDI Violations
This regulatory setback for Simpl follows another major blow earlier this year. In July, the Enforcement Directorate (ED) filed a case against Simpl and its founder-director, Nithyanand Sharma, under the Foreign Exchange Management Act (FEMA), 1999.
The ED alleged that Simpl, legally registered as One Sigma Technologies Pvt Ltd, diverted foreign investments. The company had reportedly raised funds for technology services but used them in financial services without approvals. The violations are estimated to be worth INR 913.75 crore, breaching India’s foreign direct investment (FDI) rules.
Industry watchers noted that while several BNPL players have secured NBFC (Non-Banking Financial Company) licences or partnered with regulated lenders, Simpl never opted for an NBFC licence. Its cofounder Sharma earlier described Simpl as working like a traditional “khata” or dues ledger used by small shopkeepers in India.
Funding, Layoffs, and Struggles
Simpl was founded in 2016 by former Goldman Sachs vice president Nitya Sharma and Chaitra Chidanand, who left the company in 2020 to start another fintech venture, Salt. Over the years, Simpl has raised around $83 million from investors such as Valar Ventures, IA Ventures, DIA Investments, Hard Yaka, FJ Labs, and Honeycomb Investments. In October 2021, the company raised $40 million in its Series B round led by Valar Ventures and IA Ventures.
However, Simpl has been facing business challenges since 2024. With a slowing pace of user growth and high cash burn, the company conducted two rounds of layoffs, affecting over 200 employees. In May 2024 alone, it cut about 160–170 jobs, including roles in engineering and product teams.
The RBI’s latest move now adds to Simpl’s troubles, raising uncertainty about its future in India’s growing digital payments and BNPL sector.
Catch up on India’s top business and startup developments for 25 September 2025. From Ather Energy’s INR 70 crore ESOP grant and PhysicsWallah’s INR 460 crore offline expansion to Flipspaces’ 9× exit and Virat Kohli-backed WROGN’s FY25 results, here’s your daily roundup of funding, exits, and key business news shaping the Indian market.
Company
Sector
Amount Raised
Round
Lead Investor(s)
Simple Energy
Electric Vehicles
$10 million
Bridge Round
Dr. Arokiaswamy Velumani, Balamurugan Arumugam, Haran Family Office
Simple Energy, a Bengaluru-based electric two-wheeler manufacturer, has secured $10 million in a bridge funding round. The investment was led by existing investors Dr. Arokiaswamy Velumani, founder of Thyrocare, Balamurugan Arumugam, and the Haran Family Office. The funds will primarily be used to expand the company’s retail and service network across India, with a portion allocated to research and development. Founded in 2019, Simple Energy has pioneered high-performance electric two-wheelers and aims to become one of the top three players in the Indian EV market by 2030.
Samaaro Raises $500,000 in Pre-Series A
Samaaro, an AI-powered event marketing platform, has raised $500,000 in a pre-Series A round led by Inflection Point Ventures, with participation from Silver Needle Ventures, LetsVenture, SucSEED Indovation Fund, and angel investors Sagar Narola, Suryansh Jalan, and Gautam Kumar. The funds will be used to strengthen Samaaro’s brand presence in India and the Middle East, focusing on acquiring mid- and enterprise-level clients that host events as a core part of their marketing strategy.
Handpickd Raises $15 Million in Series A
Handpickd, India’s first zero-stock fresh commerce startup, has raised $15 million in a Series A round led by Bertelsmann India Investments, with participation from Titan Capital Winners Fund and existing investors. The funds will be used to strengthen its talent pool, expand serviceability in existing geographies, and create technology for further optimizing its supply chain. Founded in 2024, Handpickd operates as a zero inventory platform without warehouses or dark stores, sourcing directly from farmers and delivering fresh produce to customers within hours.
KisanKonnect Raises INR 72 Crore in Pre-Series B
Farm-to-fork company KisanKonnect has raised INR 72 crore in a pre-Series B funding round led by Bajaj Finserv Ventures, with participation from Mistry Ventures, Desai Foods, Dhanuka Agritech, and Action Tessa Family Office. The fresh proceeds will be used to scale its fresh produce supply chain intelligence and omni-channel D2C model. Founded in 2020, KisanKonnect sources directly from farmers and delivers to over 100,000 customers in Mumbai and Pune through its app and farm stores.
Akashalabdhi Raises $1.2 Million in Pre-Seed Round
Space tech startup Akashalabdhi has raised $1.2 million in a pre-seed funding round from investors including Uday Chatterjee, Romesh Sobti, Suraj Nalin, LVX, 1Crowd, and Riceberg Ventures. The proceeds will be used to develop ANTARIKSHAB, an expandable space habitat designed for orbital logistics, microgravity experiments, space habitation, and defence applications. Akashalabdhi is building dual-use aerospace and defence technologies that serve both national security and space exploration.
Bharat Intelligence Raises INR 7 Crore in Pre-Seed Round
Agritech startup Bharat Intelligence has secured INR 7 crore in a pre-seed funding round led by Sahyadri Farms. The funds will be used to enhance Bharat Intelligence’s offerings in the agritech sector. Founded in 2024, Bharat Intelligence focuses on addressing the farm labour crisis by using advanced AI to organise rural labour markets, giving farmers timely access to skilled crews and providing workers with steady, dignified jobs.
Cosmoserve Space Raises $3.17 Million in Pre-Seed Round
Spacetech startup Cosmoserve Space has raised $3.17 million in a pre-seed funding round led by angel investor Alan Rutledge, with additional participation from AUM Ventures and Shakti VC. The investment will support Cosmoserve Space’s growth and technological development in the space technology sector.
Recove Raises INR 5.3 Crore in Pre-Seed Round
Health tech startup Recove has raised INR 5.3 crore in a pre-seed funding round led by Momentum Capital. The funds will be used to support Recove’s growth and development in the health tech sector.
Zappfresh Raises INR 16.8 Crore from Anchor Investors Ahead of IPO
Zappfresh, a leading fresh meat and seafood delivery platform, has raised INR 16.8 crore from anchor investors ahead of its initial public offering (IPO). The funds will be used to support Zappfresh’s expansion and growth initiatives.
Key Business News for 25 September 2025
Ather Energy Grants INR 70 Crore Worth of ESOPs to Employees and Senior Leadership
Ather Energy, the Bengaluru-based electric scooter manufacturer, has approved the issuance of 12.74 lakh stock options under its ESOP 2025 plan. Of these, 9.79 lakh options are allocated to eligible employees, while 2.95 lakh are designated for key managerial personnel and senior leadership. At the current share price of INR 555, the total value of these options is approximately INR 70.6 crore. This move aims to retain and motivate talent as the company continues its expansion.
PhysicsWallah to Invest INR 460.55 Crore in Offline and Hybrid Centres
Edtech unicorn PhysicsWallah plans to allocate INR 460.55 crore from its upcoming IPO proceeds to establish new offline and hybrid learning centres across India. The investment will be distributed among three formats: INR 234.37 crore for Vidyapeeth centres focusing on JEE, NEET, and foundation courses; INR 49.89 crore for Pathshala centres offering live-streamed online classes with on-site faculty support; and INR 176.29 crore for Other Centres catering to defence, chartered accountancy, government exams, and vocational skills. This expansion underscores the company’s strategy to strengthen its presence in both digital and physical education sectors.
Carpediem Capital Exits Flipspaces with 9× Returns
Venture capital firm Carpediem Capital has fully exited its investment in Flipspaces, an interior design and technology startup, delivering a 9× multiple on invested capital and an internal rate of return (IRR) of approximately 40%. The exit occurred through a secondary sale during Flipspaces’ $50 million Series C funding round, which valued the company at around $120 million. This successful exit adds to Carpediem Capital’s track record of profitable investments.
Zeropearl VC Closes ₹159 Crore Solo GP Fund for Pre-Seed Startups
Zeropearl VC, led by veteran investor Bipin Shah, has closed its maiden solo general partner (GP) fund at INR 159 crore, oversubscribed 3.5 times its original INR 80 crore target. The fund aims to invest in pre-seed startups across sectors such as AI, climate tech, and healthtech, with a focus on founders from Tier-2 and Tier-3 cities. Shah, formerly a partner at Titan Capital, brings over 14 years of experience and a record of evaluating more than 50,000 startups. The fund’s selective investment approach and founder-led backing reflect confidence in India’s startup ecosystem despite the global venture capital slowdown.
Virat Kohli-Backed WROGN Faces 32% Increase in FY25 Losses
Fashion brand co-owned by cricketer Virat Kohli, WROGN, reported a 32% increase in its losses for the financial year 2025, reaching INR 76 crore. The company attributes the rise in losses to increased marketing expenditures and expansion costs. Despite the financial challenges, WROGN continues to focus on brand growth and market presence.
Vivek Dev Jacob
