Tag: #news

  • Zanskar Raises ₹2.8 Crore in Seed Funding to Redefine Pain Care with Science-Backed Wellness Solutions

    Capital to fuel product innovation, digital expansion, and R&D in India’s ₹16,000 crore pain-relief market

    Zanskar, a pain-care focused premium and high-efficacy wellness brand, has raised ₹2.8 crore in a seed round of funding led by Zeropearl VC, with participation from angel investors Pawan Gupta (Founder, Fashinza), Amit Baid (Managing Partner, 10X Growth Ventures), and Nidhish Mundra (SVP, Oaktree Capital).

    The funds will be deployed to expand Zanskar’s product portfolio, scale up marketing across digital platforms, and enhance distribution through both D2C and offline retail channels. A portion of the capital will also be invested in building a dedicated R&D vertical focused on chronic pain and recovery.

    Born out of a personal journey of the founders, Zanskar was created to address the unmet needs of people struggling with chronic pain. The co-founders, who first met as classmates at IIT Delhi, shared a vision to build a brand that blends science with accessibility. Together, they developed proprietary, science-backed formulations for joint pain, migraines, back pain, and arthritis. Today, its flagship products, including the joint pain cream with Vitamin B6 and migraine relief roll-on with magnesium, have reached over 50,000 customers across India and emerged as category leaders online.

    The timing could not be more opportune. According to industry sources, India’s pain-relief market, covering sprays, creams, and pills, has more than doubled in the last five years to around ₹16,000 crore (USD 2 billion). Analgesics and topical rubefacients alone surged from ₹6,820 crore in 2020 to nearly ₹15,905 crore in 2025, growing at an annual rate of 18 percent, almost three times faster than the overall OTC market. Unlike generic OTC products that often rely on chemical-heavy formulations, Zanskar differentiates itself by blending clinical validation with clean, effective ingredients, offering efficacy without side effects.

    Anshul Mittal & Manu Mittal, Co-founders of Zanskar, jointly said, “This round is a huge validation of our belief that pain relief doesn’t need to come with a trade-off. We’re excited to partner with Zeropearl to take Zanskar to more homes across India and continue building products that actually work and that people love using.”

    Speaking on the investment, Bipin Shah, Managing Partner, Zeropearl VC, said: “At Zeropearl, we look for brands that are solving real & deep problems with authenticity & innovation. Zanskar’s approach to pain care by combining science with empathy really stood out of the box for us. We believe the team is well-positioned to build a trusted and scalable brand in a category that impacts millions of people in India and overseas.”

    Looking ahead, Zanskar is preparing to launch new product formats targeting arthritis and muscle recovery, alongside expanding its AI-driven physiotherapy app to deliver personalized, at-home pain management protocols. The brand is also exploring early pilots in physiotherapy-led wellness centers in select metro cities, further strengthening its full-stack approach to pain relief.

    Zanskar products are currently available through the brand’s website as well as leading platforms such as Blinkit, Tata 1mg, Amazon, and Flipkart.

    About Zanskar

    Zanskar is a next-generation wellness brand helping Indians live pain-free, naturally and holistically. From clean, effective and science-backed products to an AI-driven physiotherapy app, Zanskar is building a full-stack pain relief ecosystem that goes beyond temporary fixes. With a growing base of loyal customers, Zanskar is on a mission to replace dependency on harsh painkillers, and redefining how India manages pain, one product and one protocol at a time.

    About Zeropearl VC

    Zeropearl VC is a newly launched pre-seed investment firm with a bold mission: to empower founders with conviction, speed, and unconditional portfolio support. Inspired by the belief that founders are at the heart of innovation, Zeropearl VC adopts a “Founder Only” investment thesis, emphasizing the unique drive and vision of entrepreneurs.

  • Tuco Kids Raises $4 Million in Series A Round Led by RTP Global

    Tuco Kids, an Innovative kids’ personal care brand for children aged 3–13, has raised $4 million in a Series A funding round led by RTP Global, with continued participation from existing investors Fireside Ventures,  Whiteboard Capital and MG investments. 

    The funding will be used to deepen Tuco’s brand presence, product innovation, and expand its presence across both online and offline channels – making the brand accessible to parents wherever they choose to shop.

    Founded in 2023 by Aishvarya Murali (ex-Unilever, Ola, ZestMoney, Furlenco), Tuco was born from a personal mission to address a clear gap in the market — safe, effective personal care for children who have outgrown baby products but aren’t yet ready for adult formulations.  The company recently appointed Chanakya Gupta, a former executive at Curefit and Flipkart, as Co-founder to spearhead growth and scale business operations.

    Over the last year, Tuco Kids has grown 10x, earning the trust of over 2 lakh parents across India.  The kids 3-13 year old segment is vast and underserved, with India’s under-14 population estimated at 351 million in 2025 and makes up for nearly 25% of the total population. The interest in the category is driven by increased awareness about the availability of harsh chemical-free options in the market.

    “Kids deserve the truth about what goes on their skin. That’s what Tuco has always stood for, complete transparency and products made specifically for their unique needs,” said Aishvarya Murali and Chanakya Gupta, Co-founders at Tuco Kids. “With RTP Global joining us as partners, we’re ready to take this belief to more families across India, scaling our mission to provide safe, natural, and age-appropriate personal care that kids can trust and parents can feel good about.”

    “Tuco is unlocking a high-potential, underserved category with purpose,” said Pavitra Gupta, Director, RTP Global. “They are creating this market through sharp product innovation and deep consumer insight, evident in the trust they are building with both mothers and kids. With brand-first thinking and deep operator experience, Aishvarya and Chanakya are uniquely positioned to scale and shape this category for the long term.”

    “Tuco Kids is one of the first successes from our Early Venture investment program and has demonstrated strong traction over the past year,” said Adarsh Menon, Partner, Fireside Ventures. “We are very happy with how the team has built a clear proposition in this underserved space. We’re excited to continue partnering with them as they scale and shape this category.”

    Designed for the evolving needs of school-going kids between the ages of 3-13 years, Tuco develops safe, age-appropriate, and effective products. All formulations are developed in-house and packaged in 100% landfill and ocean-reclaimed plastic.

    Its portfolio spans hair care, bodywash, soaps, face creams, sunscreens, mosquito repellents, kids makeup, deodorants, kajals, and curated gift packs — available through Tuco’s own D2C platform and leading marketplaces such as Amazon, Flipkart, Nykaa, Myntra, FirstCry, Blinkit, Zepto and Instamart.

    Tuco had previously raised $2 million in seed funding from investors including Fireside Ventures, Whiteboard Capital, MG Investments and prominent angel investors.

    About Tuco Kids

    Founded by Aishvarya Murali in 2023, Tuco Kids is a kids’ personal care brand offering a range of products including soaps, lotions, creams, skincare, and deodorants. Chanakya Gupta, a Flipkart Veteran joined the company as co-founder in Jan 2025. All of Tuco’s products are packaged in 100% landfill- and ocean-reclaimed plastic, reflecting the brand’s commitment to create a healthier planet for children. Tuco Kids focuses on addressing the unique personal care needs of school going  kids aged 3-13, a segment with few tailored options in the market.

    Tuco Kids products are available through their website and major e-commerce platforms including Amazon, Flipkart, Myntra, Nykaa, and Firstcry as well as on all major quick commerce platforms. The company is backed by RTP Global, Fireside Ventures and Whiteboard Capital.

    About RTP Global

    RTP Global is an early-stage venture capital firm, backing the founders who use technology to reimagine how the world works. Since 2000, RTP Global has made over 150+ investments worldwide, with one in 10 becoming multi-billion-dollar companies and one in 20 publicly traded at over $10bn. Notable investments include Datadog, DeliveryHero, Cred and SumUp. RTP Global has offices in New York, London, Paris and Bangalore.

  • Dream Job or Work Prison? Greptile’s ₹1.5 Cr Salary for Freshers: 12HR, 6 Days a Week

    The corporate world has various hiring requirements and demands. Some want an experienced professional for less pay, while others offer good pay for a part-time role. Some also offer health insurance, and some don’t. Well, here’s a story unique to itself, offers everything, good pay, health insurance, equity, but…

    But wants the employees to work for 12 hours in the office for 6 days a week. Daksh Gupta is the CEO of Greptile, a US-based AI startup, which is ready to pay new graduates Rs 1.5 crore per year. Will you take such an offer? Before you think that’s doable, you’ll need to know the long-term pros and cons of the offering. Learn more.

    What Is the Big Deal About Daksh Gupta’s Offer?

    Daksh Gupta is mainly looking for freshers who can work 12 hours a day in the office (headquartered in San Francisco), 6 days a week, and no work-from-home option. The schedule is a bit too extensive, and so is the pay. Here’s how the salary structure looks:

    The salary for freshers is:

    • The basic salary for the role is ₹1.23 crore – ₹1.59 crore per year.
    • The equity for the role stands at ₹1.15 crore – ₹1.59 crore.
    • For professionals with 7+ years of experience, the pay is ₹2.12 crore – ₹2.38 crore.

    Apart From the High Salary, Greptile Is Also Offering:

    • Healthcare insurance
    • 401k retirement contributions
    • Free meals
    • Transport facilities

    Bold Opinions of Daksh Gupta

    In an interview with The San Francisco Standard, Gupta spoke about the “9-9-6” rule, meaning employees are expected to work from a.m. to 9 p.m., every day for 6 days a week. He stressed that work-life balance, an easy job, does not belong in his company. He would rather have fully dedicated employees working at Greptile.

    Such bold opinions drive mixed opinions; as always, the internet is divided. One criticizes the demands, and others support them.

    Pros & Cons of Daksh Gupta’s Job Offers at Greptile

    Since the internet is half and half, we would like to provide a Pros & Cons breakdown of Daksh Gupta’s job offers at Greptile:

    Pros (Good Side) ✅

    • First and most important, a huge pay scale of ₹1.5 crore per year for a fresher. This could be an excellent start because it’s higher than what most companies offer.
    • Equity of ₹1.15 – 1.59 crore worth is another bonus, and that value is going to grow as the company grows.
    • Expectations are clearly put up front, so there’s no confusion about what is expected out of an employee, overall.
    • Extra benefits like healthcare cover, 401 (k) contributions (retirement savings), free meals, and transport facilities are all covered by the company itself.
    • Very apt for those who are ready to excel in their careers (“career is everything for”), pouring in time without tracking or calculating it.

    ❌ Cons (Downside)

    • 12 hours a day is very long working hours; employees are mandated to work from 9 a.m. to 9 p.m.
    • 6 Days a week is too extensive, given that you’ll only get 24 hours to recharge for another round of 12 hours, every day.
    • Compromised sleep, “you time,” family time, friends, and basically a no social life. And managing all these within those 24 hours of a Sunday is quite impossible.
    • No remote work or at least hybrid can be a huge problem when asked to dedicate all of your time to the company.
    • Little to no flexibility in terms of work-life balance is a strict no, according to many health experts, especially in 2025.
    • Only people who are ready to give their all (energy and precious time) will survive. Do you want to?
  • Founder Karan Johar Flips Dating Norms in Elevn’s Humorous New Campaign

    The dating app, co-founded by Karan Johar, Raghav Chaturvedi, and Ramya Chaturvedi, launched earlier this year to build safe and meaningful relationships amidst digital dating fatigue

    Elevn, a fresh entrant in India’s digital dating space, is making a statement with its bold approach to modern romance. Founded earlier this year by Karan Johar, Raghav Chaturvedi, and Ramya Chaturvedi, the startup is designed to tackle the challenges of online dating fatigue by creating a safer, more intentional, and community-led platform.

    In a country where dating apps are often dominated by men, Elevn stands out with a simple but disruptive idea: women invite, approve, and endorse men. This makes the app highly curated and encourages meaningful connections, supported by AI-driven profile building, compatibility-based matching, and exclusive offline experiences across major cities.

    The startup’s latest campaign, featuring Karan Johar at the center, captures this unique philosophy with humor and cinematic flair. The ad takes a tongue-in-cheek look at what happens when women take the lead in romance, flipping traditional dating narratives on their head. With Johar’s trademark storytelling and charm, the campaign makes the brand’s core message engaging, relatable, and impossible to ignore.

    For Elevn, this is more than an ad; it’s a statement about disrupting the dating space and redefining how modern relationships can be built safely, respectfully, and meaningfully.

    “My movies are larger than life but I’m also a hopeless romantic at heart who believes that behind all that rosy picture, love must be safe and secure and love must feel like home. Being single can be  frustrating and dating in the present is very overwhelming and cacophonous, but the atmosphere shifts when women take centre stage. Elevn is a platform where women drive the narrative, and I am glad to be part of something that feels like a cultural shift,” said Karan Johar, Co-Founder of Elevn.

    “Dating shouldn’t feel like a battlefield – it should unfold like a story you’re excited to talk about. With Elevn, every woman is the writer of her own journey, empowered to choose who enters her world, who stays and who exits. Because when you’re in control of your narrative, finding connections becomes truly extraordinary,” said Ramya Chaturvedi, Co-Founder of Elevn. “The campaign is a fun take on a wider cultural change. Online dating is usually a chaotic and tiresome experience, but Elevn flips the experience on its head by placing the woman at the forefront”, added Co-Founder Raghav Chaturvedi.


    About Elevn

    Elevn is India’s first women-led dating app. Conceptualised by Ramya Chaturvedi, Raghav Chaturvedi and co-founded with Karan Johar, Elevn is a safe space where women get to choose who enters. By turning dating rules around, Elevn is creating a space that is safer, smarter and more real for contemporary romance.

  • Meesho Creates 12 Lakh Festive Jobs, 70% in Small Towns

    • ~5.5 lakh jobs generated through its seller network and ~6.7 lakh in the logistics sector
    • ~70% of these opportunities created in tier 3 and 4 regions 

    Ahead of the festive season, Meesho has announced the enablement of ~12 lakh seasonal job opportunities within its seller and logistics network, with more than 70% of these coming from tier 3 and tier 4 regions. This represents a ~40%  increase in seasonal jobs compared to last year. 

    This year, Meesho’s sellers have hired ~5.5 lakh seasonal workers as part of their requirements for the festive season. They are providing short and comprehensive training sessions to equip them in various capacities, including sorting, manufacturing, and packaging. Moreover, sellers have also undertaken additional preparations, such as introducing new products and venturing into new categories, curating festive collections, and conducting inventory checks to fulfil increased customer demands.

    Aligned with its commitment to serve customers in the deepest corners of the country, Meesho continues to work with prominent third-party logistics (3PL) providers. These logistics partnerships, along with Valmo, have helped generate ~6.7 lakh seasonal job opportunities, a ~90% growth over last year’s festive season hiring in logistics. The roles will largely involve first-mile, middle-mile, and delivery associates, responsible for duties such as picking, sorting, loading, unloading, and handling returns.

    Commenting on this, Sourabh Pandey, CXO, Fulfilment and Experience, Meesho said “The festive season is when many Indian households place their trust in e-commerce. With that trust comes the responsibility to ensure seller readiness and seamless logistics at scale. In anticipation of this peak period, we have created over ~12 lakh seasonal opportunities, with a significant share emerging from India’s tier-3 cities. By empowering Indian businesses, manufacturers, and logistics partners, our focus remains clear, to make e-commerce inclusive and accessible for every stakeholder.”  

    As India gears up for its most vibrant shopping season, Meesho is enabling many Indian businesses to scale their operations with the aim of fulfilling customers’ demands. The e-commerce platform is committed to offering quality products at the lowest prices and ensuring accessibility to customers across the country. 

  • Who is Laurent Freixe? Nestlé CEO Fired Over Alleged Workplace Romance With Employee

    Following an inquiry that found that he had an “undisclosed romantic relationship” with a subordinate, Nestlé fired CEO Laurent Freixe. His actions were against company policy. Philipp Navratil, the CEO of Nespresso, was named as his successor by the Swiss multinational.

    After 40 years with the company, Mr Freixe left after an examination led by lead independent director Pablo Isla and Nestlé chair Paul Bulcke, with assistance from outside counsel.

    This was a necessary decision, Bulcke stated. Nestle’s governance and values serve as solid pillars for the business. “I thank Laurent for his years of service.” Nestlé is well-known for its brands, which include KitKat chocolate bars and Nespresso coffee capsules.

    Laurent Freixe’s Career Journey

    It was in Paris, France, that Laurent Freixe was born in 1962. He is French and speaks German, Spanish, English, and French. He finished the Program for Executive Development at IMD, Switzerland, and studied business administration at the Ecole de Hautes Etudes Commerciales du Nord (EDHEC) in Lille, France.

    Prior to joining the Executive Board for Zone Europe, Mr Freixe led Nestlé Hungary and the Iberian Region after joining the company in 1986 after working in sales and marketing in France. According to his LinkedIn profile, he also started Nestle’s youth programme, Nestle Needs YOUth. With responsibility for the US, Canada, Latin America, and the Caribbean, Mr Freixe was appointed Executive Vice President and CEO of Zone Americas in 2014.

    In 2022, he was appointed Executive Vice President and CEO of Zone Latin America, where he also assisted the CEO with zone coordination. In 2018, he was designated International Youth Ambassador. Mr Freixe succeeded Ulf Mark Schneider as CEO of Neste on September 1, 2024. Exactly one year later, he was let go.

    Boards and Contributions

    Mr Freixe has held positions on a number of boards, such as Froneri SA, the Consumer Goods Forum in Latin America, and Cereal Partners Worldwide. He chaired the Global Apprenticeship Network since 2019 and joined the World Business Council for Sustainable Development’s Executive Committee in 2023. Additionally, he is a member of the IMD Foundation Board, the European Roundtable, and the EDHEC Business School Advisory Board.

    Quick
    Shots

    •Nestlé CEO dismissed over undisclosed
    romantic relationship with a subordinate.

    •Inquiry led by Pablo Isla (lead
    independent director) and Paul Bulcke (Nestlé chair) with external counsel.

    •Philipp Navratil, Nespresso CEO,
    appointed as new Nestlé chief.

    •Joined in 1986; led Hungary, Iberian Region,
    Zone Europe, Americas, and Latin America.

    •Studied at EDHEC Business School;
    completed IMD’s Executive Development Program; fluent in 4 languages.

    •Launched Nestlé Needs YOUth
    programme; promoted youth employment globally.

  • Salesforce Cuts 4,000 Customer Support Roles Amid AI Push, Confirms Marc Benioff

    As AI replaces customer service positions, Salesforce CEO Marc Benioff eliminates 4,000 jobs. Salesforce CEO Marc Benioff recently revealed that 4,000 customer service representatives would be let go, bringing the total number of support people down from 9,000 to about 5,000, an almost 45% reduction.

    Why Salesforce Cut 4,000 Jobs?

    The move comes as AI agents increasingly manage routine customer interactions and tackle a backlog of more than 100 million uncalled sales leads that has accumulated over 26 years, according to a Fortune interview with Benioff. This development underlines how customer service positions are becoming increasingly vulnerable to automation.

    AI vs. Human Workforce: What’s Changing?

    About 50% of all client discussions are now handled by the company’s AI-human collaboration system. Human agents may now concentrate on more complex or exceptional instances since routine duties like responding to frequently asked questions, recording client contacts, and following up on leads are becoming more and more automated.

    Despite Benioff’s long-standing emphasis that AI would complement human workers rather than replace them, this employment drop shows that jobs involving repetitive tasks are most vulnerable to automation. Approximately 5% of Salesforce’s workforce, which as of January 2025 had over 76,000 employees, will be laid off.

    Industries at Risk Beyond Salesforce

    This trend indicates wider hazards for customer service representatives in sectors where regular, process-driven jobs predominate, not just Salesforce. As AI technologies become more accurate and efficient, comparable changes may occur in the banking, e-commerce, telecom, and IT support sectors. Long seen as entry-level or stable jobs, customer service positions are now more vulnerable to disruption from automation.

    Why AI Cannot Fully Replace Humans?

    Even with automation, human control is still very important. Similar to hand-off procedures in other AI-driven processes, such as self-driving technology, Salesforce’s AI system steps in when situations call for judgement, accuracy, or nuance. Only some tasks are safe from automation, according to this approach, which guarantees that AI increases productivity without completely eliminating the need for human expertise.

    How Workers Can Stay Relevant in an AI-Driven Economy?

    A broader trend in the business sector is reflected in Salesforce’s recent personnel changes: AI is changing job structures and drawing a line between ordinary and difficult roles. At the heart of this change are customer service representatives, who run a greater risk of being laid off if their jobs mostly require repeated duties. Adaptability, ongoing skill improvement, and the capacity to work well with AI technology are now necessary in the evolving nature of work.

    This moment indicates that getting ready for an AI-driven workplace is no longer optional—it is necessary for career sustainability for millions of workers in customer-facing roles. The use of AI in customer service emphasises how crucial it is for workers in vulnerable positions to upgrade their skills. Problem-solving, complicated query handling, critical thinking, and AI supervision skills are becoming increasingly important.

    While workers who can collaborate with AI systems to handle more complex jobs are better positioned for career resilience, those who only concentrate on repeated interactions may find their chances diminish.

    Quick
    Shots

    •Marc Benioff confirms 4,000 customer
    support job cuts.

    •Nearly 45% reduction in support staff
    as AI agents take over routine tasks.

    •AI now handles 50% of client
    interactions and manages a 100M+ sales lead backlog.

    •Customer service jobs increasingly
    vulnerable if focused on repetitive tasks.

  • Mansi Jain Elevated as COO of Glance to Lead Global Expansion of AI Commerce

    Glance, a global consumer technology leader pioneering the future of AI-powered commerce, today announced the appointment of Mansi Jain as Chief Operating Officer (COO). Her elevation signals a pivotal moment for Glance as it doubles down on its ambition to build and lead the global AI commerce category. 

    Mansi has spent more than 13 years at the InMobi Group, driving some of its most ambitious bets. Most recently, as Senior Vice President & GM of Glance, she launched Glance AI, a one-of-its-kind AI commerce platform, reimagining shopping through inspiration-led discovery. Under her leadership, Glance AI has quickly emerged as a category creator, shaping how consumers will shop in the future. 

    “Mansi has been at the center of Glance and InMobi’s most defining breakthroughs,” said Naveen Tewari, Founder & CEO of InMobi Group and Glance. “She brings unmatched strategic clarity, bold vision, and the ability to inspire teams to reimagine what’s possible. As COO, she will be instrumental in scaling Glance globally and cementing our leadership in AI commerce.” 

    Mansi’s appointment comes at a time when AI commerce is set to disrupt trillion-dollar consumer industries worldwide. Speaking about her new role, Mansi Jain, COO, Glance, said: “I am energized to take on this role at such a pivot time for Glance. In just a few months, we have seen the immense potential of Glance AI come alive globally. We are at the dawn of a commerce revolution, one that will be led by AI. My vision is to make Glance AI synonymous with AI commerce and to shape the future of how the world shops and discovers.” 

    Her career trajectory is a testament to InMobi’s deep culture of nurturing leaders from within. An IIT Delhi alumna, she joined the company in 2012 after stints at Bain & Company and Essex Lake Group. Since then, she has built the remarketing platform for InMobi, served as Chief of Staff leading corporate strategy, transformed Roposo into a global social commerce platform, and ultimately launched Glance AI, consistently driving category-shaping innovation and growth. 

    As COO, she will now lead Glance’s global expansion and sharpen its mission of becoming the world’s most trusted AI commerce platform, setting new benchmarks for the industry. 

    About Glance 

    Glance is a consumer technology company, creating an industry defining AI commerce platform to help consumers and businesses reimagine shopping using generative AI. Built on a proprietary AI architecture fusing predictive intelligence, neural visualization and real-time orchestration across devices from mobile, TV to apps, Glance AI is leading disruption in commerce. Glance is backed by Google, Jio Platforms, and Mithril Capital, and is an unconsolidated subsidiary of InMobi.

     

  • Daily Indian Funding Roundup & Key News – 1st September 2025: Cuzor Raises ₹5 Cr, Tessolve Secures $150M, UPI Crosses 20B Transactions & More

    The first day of September brought a mix of funding activity, strategic acquisitions, and industry milestones across India’s startup and business ecosystem. From fresh capital inflows into consumer electronics, semiconductor services, and venture funds, to large-scale layoffs, retail consolidation, and UPI’s record-breaking performance, the day highlighted both opportunities and challenges shaping the Indian market.

    Daily Indian Funding Roundup – 1st September 2025

    Company Amount Round Lead investor(s) Sector
    Cuzor ₹5 Cr Seed Info not disclosed Consumer Electronics
    Tessolve $150 Mn Funding TPG Semiconductors
    Elev8 Venture Partners $160 Mn Maiden Fund Info not disclosed Venture Capital Fund
    Blue Tokai $25 Mn Bridge Existing investors Coffee / Consumer Brand

    Cuzor raised ₹5 crore in a seed round

    Consumer electronics brand Cuzor secured ₹5 crore from Ramesh Kannan, MD of Kaynes Technology. The funding will be deployed toward R&D, talent acquisition, and brand building as the Bangalore-based startup deepens its presence in chargers and mobile accessory segments.

    Tessolve received $150 million in funding from TPG Growth

    Tessolve, the semiconductor engineering services arm of Hero Electronix, has raised $150 million from TPG Growth to support its expansion in semiconductor engineering.

    Elev8 Venture Partners closes maiden fund of $160 million

    Founded by Navin Honagudi (formerly of Kae Capital), Elev8 Venture Partners raised $160 million for its first fund, which aims to invest in consumer internet, enterprise software, and fintech startups.

    Blue Tokai raised $25 Mn in Bridge round

    Blue Tokai, a specialty coffee brand, has raised $25 million in a bridge funding round from its existing investors. The fresh infusion will be used to expand its retail footprint, enhance coffee offerings, and strengthen its supply chain.

    Key Business News for 1st September 2025

    MPL to give pink slips to 60% of its India employees

    Gaming company Mobile Premier League (MPL) plans to lay off 60% of its India workforce following the government’s ban on online real-money games (RMG). The announcement reflects the significant impact of regulatory changes on the company’s operations.

    Star Localmart acquires DusMinute, expands to 170 stores

    Star Localmart, the retail arm of the Sanjay Ghodawat Group (SGG), has acquired DusMinute, a Bengaluru-based retail chain operating within gated communities. The acquisition—amount undisclosed—expands Star Localmart’s footprint, bringing its total store count to 170 across India.

    UPI crosses 20 billion monthly transactions for the first time in August

    The Unified Payments Interface (UPI) achieved a new milestone by processing over 20 billion transactions in August 2025—the first time it’s crossed that threshold. This follows steady growth in prior months, such as June when UPI recorded 18.40 billion transactions worth ₹24.04 lakh crore.


    Daily Indian Funding Roundup and Key News: 29 August 2025
    From mobility and AI to late-stage venture funding, the day was marked by significant developments. Here’s your quick roundup for top funding deals and key business news in India on 29th August 2025


  • Chaya Nayak: Indian-Origin AI Expert Behind Llama Joins OpenAI After 9 Years at Meta

    One of Meta’s most seasoned AI leaders has left the company amid the poaching war, as Chaya Nayak, an executive of Indian descent who worked there for almost ten years, announced she was going to join OpenAI.

    Career at Meta — Data for Good & LLaMA

    Her departure from Mark Zuckerberg’s AI division is the most recent in a series of high-profile departures. “I remember my first weeks at Facebook like they were yesterday,” Nayak wrote in a contemplative LinkedIn post announcing her retirement.

    She joined to support the launch of Data for Good, an initiative to demonstrate the potential benefits of data and AI/ML for the global community. Her career was built upon what began as a daring endeavour.

    Operations Handled by Nayak at Meta

    Nayak spent her ten years there working on initiatives that used AI and data to solve practical problems. She led the Facebook Open Research and Transparency (FORT) project, which created resources for scholars to carefully examine Meta’s impact, after playing a significant part in Data for Good. She also helped communities in crises by creating disaster maps, and she actively participated in studies on Meta’s impact on democracy, including those conducted during the US elections in 2020.

    What Her Move Means for the AI Industry?

    Nayak turned her attention to generative AI in more recent years, helping to create three generations of Llama and Meta AI. “I worked on GenAI for the last 2.5 years, creating three generations of Llama and Meta AI, solving challenging problems at breakneck speed, and speculating about the potential social implications of the next wave of AI,” she stated.

    She went on to reflect on her development, saying, “I developed as a leader along the road. I gained self-assurance, the courage to pursue ambitious concepts, and the ability to bounce back when things didn’t work out. Above all, I established a network of friends and coworkers who helped to mould and encourage me along the journey.”

    Nayak’s Future Role

    Nayak will now collaborate on Special Initiatives with Irina Kofman at OpenAI. “Today, I’m joining OpenAI to work with Irina Kofman on Special Initiatives – exploring new opportunities at the frontier of AI,” she tweeted, outlining her next step. “Using all I’ve learnt to work on projects that will help shape the future of technology and society seems like the ideal next step. The journey isn’t over,” she wrote as a hopeful closing to her post.

    Other Meta AI Experts Who Recently Quit

    In recent months, a number of AI specialists have left Meta, including Nayak. According to Wired, at least three workers from Meta’s Superintelligence Labs (MSL) abruptly quit. Ethan Knight, Avi Verma, and Rishabh Agarwal left; Verma and Knight are now going to OpenAI.

    Given her seven-figure compensation, Agarwal’s resignation caused some controversy. Leaving Meta was a “tough decision”, he said in a social media post, but he “felt the pull to take on a different kind of risk”.

    Quick
    Shots

    •Played a key role in building Meta’s
    LLaMA and advancing generative AI.

    •Started career at Meta with Data for
    Good and worked on crisis response, democracy research, and transparency
    initiatives.

    •Led projects like Facebook Open
    Research and Transparency (FORT) and disaster mapping.

    •Helped build three generations of
    LLaMA and Meta AI in just 2.5 years.