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  • Dream11 Revenue Crash: 95% Drop After India’s Online Gaming Ban — CEO Harsh Jain Rules Out Layoffs

    Harsh Jain, Dream Sports’ co-founder and CEO of Dream11, stated that there won’t be any layoffs even though the company has switched to free-to-play games after the government outlawed online gaming that requires payment.

    Harsh Jain’s Assurance: No Layoffs at Dream Sports

    According to him, Dream Sports has enough cash on hand to last for years and depends on a high internal demand for talent across all of its channels. In an August 25 interview with Moneycontrol, Jain stated that the company had no intention of making any layoffs.

    This place is safe for all the talent. He went on to say that the business wants to use this talent to help us get out of this predicament. Developing new items that you can sell later is the only way to cope with 95% of your money being lost. Talent will always be the first step.

    Commenting on the development, Kabir Kochhar Founder & Managing Partner, Audacity Venture Capital stated, “Regulation not prohibition, was the need of the hour. This decision impacts the economy in many ways, the first of which is on the unfortunate employees, founders, investors, and service providers. Nobody is questioning the spirit of this decision. You cannot outlaw something that has entrenched consumption behavior. We know for a fact that the underground illegal economy around betting is many times the size of the regulated and burgeoning legal RMG industry. Expect this unscrupulous underbelly to thrive.”

    “VC confidence is yet again shaken. Regulatory risk is something most VCs account for in their decision-making matrix. Investor expectations were around higher taxation and clarity on the distinction between games of skill and games of chance. These are the two issues on which the highest courts of the land are yet to issue a judgment. The taxation itself implied a tacit understanding and a regulation-based approach. However, VCs will survive. It is the nature of the game. Founders unfortunately will be the hardest hit, as usual,” he added further.

    Pivot to Free-to-Play Fantasy Sports in India

    Dream11 is now concentrating only on free-to-play online social games after suspending all paid competitions on its fantasy sports platform on August 22. India’s new gaming law, which prohibits online money games where participants deposit money in the hopes of winning rewards, served as the impetus for the decision.

    How India’s Online Gaming Ban Impacts Dream11

    Notably, the investigation stated that these cash-based competitions, which are currently unlawful, accounted for 95% of the company’s current income and all of its earnings. According to Harsh Jain, Dream Sports is still experiencing a high internal demand for talent across all of its current businesses, which include the fintech venture Dream Money, the mobile game development unit Dream Game Studios, the sports experiences platform DreamSetGo, and the sports content and commerce platform FanCode.

    Additionally, he stated that the company plans to develop new items in the future due to the increasing demand for them. Jain went on to say that the Mumbai-based business has enough cash on hand to support its employees and operations for a number of years, which he believes is more than enough. Compared to INR 3,841 crore in FY22, Dream Sports reported operating revenue of INR 6,384.49 crore for FY23.

    Future of AI in Fantasy Sports and Fan Engagement

    The company plans to concentrate all of its future efforts on artificial intelligence (AI)-based sports prospects in India, with a special focus on the creator economy.

    According to Jain, the business offers sports performance, analytics, fan interaction, sports content, and products. Artificial intelligence is going to change all of this.

    The company may now devote its 500 engineers to resolving these issues. “To address these issues for Indian sports fans, we will begin anew,” he continued.

    Quick
    Shots

    •Dream Sports CEO confirms no layoffs despite 95%
    revenue loss.

    •Dream11 suspends all paid fantasy
    sports contests after India’s online gaming ban.

    •Cash-based games, which made up 95%
    of revenue, now prohibited.

    •Jain emphasizes talent will help
    build new products and future growth.

  • 5 Lakh Free ChatGPT Plus Accounts: India Becomes AI’s Biggest Classroom

    AI education is knocking on school doors in India. OpenAI made a big announcement to give away 5 lakh free ChatGPT Plus accounts to teachers and students. They introduced the “India-first” Learning Accelerator initiative on August 25, 2025, which is the biggest education project ever. Why should this matter to you? Well, this is relevant to you if you have kids at home. We all know how prevalent the “ratta maar” (rote memorization) concept is in the Indian education system. That is about to change with AI. This project is said to give students a better understanding of the subject matter than it does now. Having said all that, will this project truly push students beyond just copying homework from AI? Find out more. 

    How Will the Distribution Take Place?

    Considering that India is the largest student market for ChatGPT, it has launched a significant project. Apparently, OpenAI is partnering with three main entities to distribute these accounts:

    • Ministry of Education (India) → The ministry will give these free accounts primarily to government school teachers from grades 1 to 12.
    • Ministry of Education (India) → The council will allocate accounts to technical institutes (such as engineering and tech students and faculty) to support their research.
    • ARISE member schools → These are private/K-12 schools (more than 1800 schools across 20 states in India). They will also gain access to the accounts.

    Later in the year, OpenAI will also open its first office in New Delhi. 

    New Leadership for This Education Push

    OpenAI appointed Raghav Gupta (formerly the head of Coursera in India and Asia) as the Head of Education for India and the Asia Pacific (APAC). He is expected to collaborate with various schools, universities, and the government to drive the initiative. 

    Why is OpenAI’s “India-first” Learning Accelerator initiative Important?

    According to an article published in 2012 in ‘The Times of India,’ about 75% of second-year engineering students failed in at least one subject after scoring high on 12 exams. And rote memorization is to blame for this. Such a practice is still common in India, and after the introduction of AI, even homework (copying) is neglected. The main goal of the initiative is to use AI to help students understand subjects better and encourage deep thinking, unlike now. 

    OpenAI Research Support in India

    OpenAI is also funding $500,000 (around ₹4 crore) for a research project with IIT Madras. The research will study:

    • How AI can change the regular teaching methods.
    • How students benefit from AI tools like ChatGPT in the long run.

    OpenAI Academy

    Meanwhile, OpenAI Academy (an AI literacy program launched in June 2025) will work toward the same goal. To achieve this, OpenAI is partnering with the Ministry of Electronics and Information Technology (MeitY). The program will train both students and teachers to understand the basics of AI and technology.

  • TikTok Layoffs 2025: Hundreds of UK Jobs Cut Amid Global Restructuring and AI Shift

    The Wall Street Journal report, which cited internal sources, claims that TikTok has started a new round of layoffs that would impact workers in the UK as the company works towards artificial intelligence to automate content filtering.

     The activities of TikTok in South and Southeast Asia will also be impacted by this worldwide restructure. Hundreds of individuals are anticipated to lose their jobs, according to reports, even though the corporation has not revealed the precise number of roles that will be removed.

    Why TikTok Is Laying Off Employees

    In response to the layoffs, TikTok emphasised that the action is not merely a cost-cutting measure but rather a component of a larger strategic realignment. The company wants to streamline overlapping functions and concentrate more on e-commerce integration, AI-driven content discovery, and improving tools for creator monetisation.

    “We are continuing a reorganisation that we started last year to strengthen our global operating model for trust and safety,” a spokeswoman told the Wall Street Journal.

    Severance Packages and Employee Reactions

    Although the work environment is described as “tense but not panicked”, affected employees will receive severance payments and transition support. As the business navigates uncertain waters, many teams are preparing for potential future changes, the report continued.

    The layoffs occur as regulatory scrutiny increases, particularly in the US, where TikTok may be subject to forced divestitures or bans because of national security concerns. The urge to compete is increasing as competitors like YouTube Shorts and Instagram Reels increase their investments in artist ecosystems.

    In order to preserve agility and concentration, ByteDance, the parent company of TikTok, is also simplifying operations across its portfolio by reducing experimental initiatives and combining teams.

    TikTok’s AI-Driven Strategy and Content Moderation

    In an effort to automate content assessment and reduce moderators’ exposure to upsetting content, TikTok has been increasing its investments in artificial intelligence (AI) and other moderation technologies.

    The corporation claims that automatic algorithms now identify and remove more than 85% of content that was previously removed for breaking rules. Conversely, competing social media networks are turning away from stringent content control.

    Meta Platforms said earlier this year that it would remove speech limitations and stop fact-checking on Facebook and Instagram, adopting X’s strategy after Elon Musk loosened moderation guidelines after acquiring the platform in 2022.

    Quick
    Shots

    •Company shifting towards AI-driven
    content filtering and moderation.

    •Operations in South and Southeast
    Asia also affected by restructuring.

    •Layoffs part of strategic shift
    toward e-commerce, AI content discovery, and creator monetisation.

    •Affected employees to receive
    severance packages and transition aid.

  • Kalviro Ventures: Redefining Wealth Management with PMS & AIF Excellence

    India is at a turning point in its wealth story. As entrepreneurs, professionals, and family offices achieve new levels of financial success, the way they approach investments is also evolving. No longer satisfied with the familiar comfort of equities, gold, or mutual funds, the country’s emerging affluent are seeking specialised, conviction-led investment strategies that align with long-term goals and legacy creation.

    At the heart of this shift stands Kalviro Ventures LLP, a boutique wealth distribution platform dedicated to Portfolio Management Services (PMS) and Alternative Investment Funds (AIFs). Unlike mainstream distributors who rely heavily on mutual funds, Kalviro believes true wealth creation requires a premium-first approach—anchored by PMS and AIF strategies, with mutual funds serving as a complementary layer.

    The Kalviro Philosophy: Clarity Over Clutter

    Founded by Shrenik Shah, a financial services professional with 15+ years of experience, Kalviro Ventures was built on a simple but powerful vision—to cut through noise and deliver clarity, conviction, and purpose-driven wealth solutions.

    “Every portfolio we design is curated as if it were our own. Our conviction drives our advice and research.” — Shrenik Shah, Founder, Kalviro Ventures

    Kalviro doesn’t believe in product-pushing. Instead, it emphasizes strategy-first curation, helping investors access the right opportunities based on their wealth stage and ambitions. PMS and AIFs—traditionally overlooked by many retail investors—fit seamlessly into this differentiated, research-backed approach.

    The Flagship Offerings

    1. Portfolio Management Services (PMS)

    PMS provides customized, professionally managed portfolios with sharper focus and flexibility compared to conventional instruments. From sectoral plays and thematic strategies to balanced, long-term equity allocations, Kalviro partners only with proven PMS managers who demonstrate consistency, performance, and conviction.

    For investors, PMS is not just a product—it’s an exclusive entry point to differentiated equity allocation that aligns with personal risk appetite and financial goals.

    2. Alternative Investment Funds (AIFs)

    If PMS refines equity investing, AIFs expand the entire canvas of wealth creation. AIFs open doors to private equity, venture capital, structured debt, real estate, and niche alternative strategies—opportunities rarely accessible to mainstream investors.

    Kalviro’s conviction in AIFs positions them as the rising stars of India’s wealth management ecosystem. By connecting clients to high-quality AIF opportunities, Kalviro empowers HNIs and family offices to participate in emerging sectors, early-stage growth businesses, and innovative financing structures—where long-term wealth and legacy are built.

    3. Mutual Funds: The Balancing Layer

    While PMS and AIFs are the core pillars, Kalviro recognizes the importance of mutual funds in providing stability, liquidity, and balance. With access to over 50+ AMCs, Kalviro ensures investors get the best of both worlds—advanced strategies for alpha generation complemented by mutual funds for portfolio resilience.

    Trusted Partnerships with Market Leaders

    Kalviro Ventures’ strength comes from its ecosystem of elite partnerships with some of India’s most respected fund houses and asset managers, including:

    • Motilal Oswal – pioneers in research-driven PMS strategies
    • Carnelian Asset Advisors – specialists in proprietary “Magic Formula” frameworks
    • Abakkus Asset Manager – leaders in high-conviction equity portfolios    Buoyant Capital – agile, alpha-focused investing approach
    • Nippon India PMS & AIF – innovation-driven strategies with scale
    • Neo Asset Management – aligned with high-growth modern sectors
    • IIFL Capital – versatile PMS and AIF solutions
    • 360 ONE – top alternatives platform in India
    • Vivriti AMC – pioneers in structured fixed-income AIFs

    With such partnerships, Kalviro ensures its clients gain access to best-in-class, differentiated investment solutions curated for long-term success.

    Who Kalviro Serves?

    Kalviro Ventures caters to discerning investors who value strategy over scale, and conviction over convenience. Its core audience includes:

    • HNIs & Ultra-HNIs seeking premium PMS & AIF allocations
    • Family Offices diversifying into alternative investments
    • Young entrepreneurs & professionals building long-term wealth platforms
    • Seasoned investors consolidating portfolios into high-performance strategies

    A Holistic Wealth Experience

    Unlike many distribution platforms, Kalviro doesn’t stop at product access. It ensures a seamless client experience through:

    • Curated shortlists driven by convictions and research
    • Risk-aligned structures that reflect goals and tolerance levels
    • Unified visibility of PMS, AIFs, and mutual funds
    • Continuous reviews & rebalancing aligned with market shifts and life milestones

    The approach is built on the belief that wealth is more than numbers—it is legacy in motion.

    Kalviro’s Promise: Wealth with Legacy

    The very name Kalviro carries deep symbolism. Inspired by Kalpavriksha—the mythological wish-fulfilling tree—and strengthened by Viro, representing resilience and modernity, Kalviro embodies an ethos of responsible, future-ready wealth creation.

    By putting PMS and AIFs at the heart of its wealth strategies, Kalviro Ventures is redefining how India’s affluent invest—not just for today’s goals, but for tomorrow’s legacies.

    About Kalviro Ventures

    Kalviro Ventures LLP is a SEBI-compliant boutique wealth distribution platform specializing in Portfolio Management Services (PMS) and Alternative Investment Funds (AIFs), with mutual funds offered as a complementary layer. Backed by research-driven curation, conviction-led advice, and strong partnerships with leading fund houses, Kalviro empowers India’s emerging affluent to invest with clarity, strategy, and long-term vision.

  • 16% Early-Festive Surge Signals Strong Quarter for D2C: GoKwik

    Key Highlights

    • Fashion & apparel led sales at 31%, followed by beauty & personal care (22%) and health & wellness (14%).
    • Astrological products emerged as a surprise entrant, posting the highest average order value (₹5,042 per purchase). Spiritual products like Rudraksha beads and Yantras also joined mainstream carts.
    • Regional trend: Bengaluru topped order volumes, while Rangareddy district (Telangana) entered the top 10 for the first time – reflecting D2C adoption beyond metros.
    • Supply chain gains: Return-to-origin (RTO) rates dropped sharply, with electronics improving from 31.5% to 27% and footwear from 37% to 27.9%.
    • Payment shift: Prepaid orders surged across categories. In fashion, prepaid penetration rose from 30.4% to 48.7%, while beauty went from 38.7% to 55.5%.

    Indian shoppers are preparing their festive baskets earlier than usual this year, resulting in a 16% year-on-year increase in order volumes for direct-to-consumer (D2C) brands on GoKwik’s platform during the pre-festive period, according to the e-commerce enabler.

    GoKwik said the shift is coming as consumers seek to beat last-minute supply bottlenecks and secure early discounts. Fashion and apparel dominated sales, representing 31% of total volumes, followed by beauty and personal care at 22% and health and wellness at 14%.

    Besides the standard categories, a few unusual categories, such as Astrology, also emerged. Astrological products posted the highest average order value at INR 5,042 per purchase. In contrast, spiritual products such as Rudraksha beads, Yantras, deities, spiritual jwellery, and other pooja items joined mainstream online carts alongside fashion and beauty, highlighting changing consumer preferences.

    The growth was not limited to category expansion. About nine brands reported more than 100% year-on-year volume growth, suggesting breakouts in niche segments.

    Some intriguing geographic trends captured attention.
    Bengaluru recorded the highest order volumes, followed by Pune and Mumbai suburban areas. Rangareddy district in Telangana entered the top 10 locations for the first time, pointing to D2C adoption outside traditional metro hubs.

    Merchants also reported sharper supply-chain performance. Return-to-origin (RTO) rates – a key metric for failed deliveries – declined across major categories. Electronics improved from 31.5% to 27%, while footwear fell from 37% to 27.9%.

    “The early-festive period is proving to be a litmus test for D2C resilience. Brands that prepared with better address hygiene and proactive customer engagement have seen improved delivery outcomes,” said Chirag Taneja, co-founder and chief executive officer of GoKwik.

    One of the most marked changes was in payment choices. Prepaid orders surged across 15 of 18 categories. In fashion and apparel, prepaid adoption rose from 30.4% to 48.7%. Beauty and personal care climbed from 38.7% to 55.5%, while electronics increased from 56.6% to 64.1%.

    Across categories, prepaid penetration rose by an average of 11.9 percentage points. GoKwik attributed the trend to cleaner data, stricter courier orchestration, and stronger buyer communication ahead of the peak festive quarter.

    India’s D2C sector, valued at over $20 billion, has been one of the fastest-growing segments of online commerce. It is driven by younger shoppers, rising disposable incomes, and brand willingness to bypass marketplaces. Analysts say early festive demand often sets the tone for quarterly growth and brand profitability.

    GoKwik works with over 12,000 brands and has access to over 165 million shoppers, covering categories from fashion and beauty to electronics, health, and wellness.

  • RBI Ready to Support Tariff-Hit Sectors, Says Governor Malhotra

    In the event that US President Donald Trump’s tariffs take effect, the Reserve Bank of India (RBI), as it has in the past, will intervene and offer financial assistance to the most severely affected industries to help them weather the storm, RBI Governor Sanjay Malhotra stated in Mumbai on Monday, August 25, 2025.

    Possible Impact of Trump’s 50% Tariff on Indian Exports

    Through monetary policy, the RBI essentially helped the economy during COVID by easing credit access for MSMEs and imposing a ban on term loans. In response to a query during the FIBAC annual conference, which was hosted by the Indian Banks’ Association (IBA) and FICCI, the governor stated that the 50% tax has not yet gone into effect.

    Appreciating the move, Arunabh Sinha, CEO & Founder, UClean stated, “The RBI stepping up for tariff-hit sectors is a confidence signal. Tariffs can quickly raise costs and squeeze margins, and knowing the central bank is ready to cushion that shock gives businesses the breathing space they need. What really stands out is the RBI’s push for trade in local currencies. That’s a game-changer. It cuts dollar dependence, trims transaction costs, and shields companies from the whiplash of currency swings.”

    ” For the brands that is expanding into international markets, smoother local-currency trade directly strengthens our ability to scale across borders. RBI alone cannot erase the pain of tariffs. But in an uncertain global environment, reassurance matters. When the central bank signals stability, it helps startups and growth-stage companies plan with conviction instead of hesitation. For entrepreneurs, that predictability is half the battle won. In short, this is the RBI saying: ‘Yes, the global headwinds are strong, but Indian businesses will not sail alone.’ And that assurance is priceless for anyone building for the long run,” Sinha added.

    Sectors at Risk – Textiles, Auto Parts, Gems, Shrimp

    The RBI hopes that the impact of the ongoing negotiations will be low. As you are aware, 45% of exported goods are exempt from taxes, while the remaining 55% may have an effect on certain industries, including textiles, auto parts, gems and jewellery, shrimp, and MSMEs.

    RBI Measures to Cushion the Economy

    The government is investigating it, Malhotra added. The RBI has been in a period of relaxing. In order to give the economy enough cash, it lowered the repo rate by 100 basis points. The federal bank would provide any assistance that the RBI deems necessary for the expansion of the economy, including that of the most affected sectors, as soon as possible.

    “It’s an important area on which the RBI has been working for many years, and it’s important for the country to develop trade in local currency,” Malhotra responded when asked about the rupee’s internationalisation. It protects us from foreign exchange fluctuations.

    He stated that “healthy trade is happening in local currency” and that India presently has agreements with four nations: the Maldives, Mauritius, Indonesia, and the United Arab Emirates. “It’s a slow process and would take years and decades to evolve to have trade in local currencies,” he remarked when asked how it would work out.

    Strengthening Banking Correspondents for Financial Inclusion

    In order to accomplish the aims of financial inclusion, Malhotra emphasised in his conference speech the necessity of significantly fortifying the Banking Correspondents (BCs) network.

    He went on to say that we must never forget that nearly two-thirds of our nation’s population lives in rural areas, and we have a duty to them all. Although practically every town within a 5-kilometre radius now has banking access, there is still room to improve it. In our nation’s sparsely populated areas, BCs are a useful conduit for service delivery.

    To increase the calibre, reliability, and accessibility of financial services, this channel must be reinforced. Not only is there room to enhance them, but they also need to be trained and have their service offerings expanded. He underlined that while this will increase the BCs’ financial sustainability and viability, it will also enhance the calibre and scope of their services.

    Quick
    Shots

    •RBI ready to support sectors impacted
    by potential US tariffs.

    •Proposed 50% tariff could affect
    Indian exports like textiles, auto parts, gems & jewellery, shrimp, and
    MSMEs.

    •RBI provided relief during COVID
    through credit easing, loan moratoriums, and repo rate cuts.

    •Repo Rate Cut by 100 bps – Recent
    policy step to inject liquidity and support growth.

  • Elon Musk’s xAI and X File Lawsuit Against Apple and OpenAI in Texas Over AI Competition and Rankings

    Apple and OpenAI were sued on 25 August in a U.S. federal court in Texas by Elon Musk’s AI startup xAI and his social network business X. They allegedly accused Apple and OpenAI of illegally collaborating to stifle competition in the field of artificial intelligence.

    Allegations of Market Lock-In and App Store Bias

    In order to maintain their monopolies and prevent the expansion of new businesses like xAI, the lawsuit claims that Apple and OpenAI “locked up markets”. Apple and OpenAI attempted to prevent xAI’s products, such as the Grok chatbot and X app, from being available on the Apple App Store, according to the complaint.

    It claims that if it weren’t for its unique agreement with OpenAI, Apple would have given them more publicity, according to Reuters.

    Musk’s Warnings and Apple–OpenAI Partnership

    Regarding the case, Apple and OpenAI have not yet responded. Musk had already threatened to sue Apple earlier this month. He wrote on X that it was “impossible for any AI company besides OpenAI to reach #1 in the App Store” due to Apple’s actions.

    ChatGPT Integration Into Apple Devices

    According to sources, Apple and OpenAI have partnered to integrate ChatGPT into Macs, iPhones, and iPads. According to the lawsuit, OpenAI has an edge thanks to ChatGPT integration, whereas Apple is ranked against “super apps” and AI chatbots like Grok.

    As stated in the CNBC story, the court filing claims that competition will continue to be hindered and competitors like xAI will continue to suffer unless judges stop Apple and OpenAI’s efforts

    Musk vs Altman: From Co-Founders to Rivals

    In March, Musk’s business xAI paid $33 billion to acquire X. He intended to use it to enhance AI chatbot training. Additionally, Musk has linked Tesla vehicles to his Grok chatbot. Less than two years old, xAI faces competition from Chinese firm DeepSeek, Microsoft-backed AI initiatives, and OpenAI.

    Musk’s California Lawsuit Against OpenAI

    Additionally, Musk is suing OpenAI and its CEO, Sam Altman, in California. His goal is to prevent OpenAI from becoming a for-profit company instead of a nonprofit. According to Reuters, Musk and Altman co-founded OpenAI as a nonprofit in 2015.

    Altman’s Response to Musk’s Claims

    Apple’s App Store has already been sued. A judge decided that Apple must permit greater competition in app payments in the instance of Epic Games, the producer of the “Fortnite” video game. In his response to Musk on X, OpenAI CEO Sam Altman described Musk’s assertion as “remarkable”.

    He said that Musk himself manipulates X to harm competitors and benefit his own businesses. According to the CNBC article, an Apple representative previously stated that the App Store is “fair and free of bias” and now displays thousands of apps using numerous signals.

    Even after Apple and OpenAI announced their partnership, some users on X Community Notes noted that competing chatbot apps, such as DeepSeek and Perplexity, were still ranked #1 in the App Store. The ongoing conflict between Altman and Musk, two erstwhile comrades who now disagree over artificial intelligence, has a new chapter thanks to this lawsuit.

    Quick Shots

    •Filed on 25 August in Texas federal
    court by xAI & X (Elon Musk’s companies).

    •Accuses Apple & OpenAI of illegal
    collaboration to stifle AI competition.

    •App Store bias: Musk alleges Apple
    blocked/promoted apps unfairly.

    •Musk earlier warned: “Impossible for
    any AI company besides OpenAI to reach #1 in App Store.”

  • Daily Indian Funding Roundup & Key News – 25 August 2025: Palmonas Raises ₹55Cr, Kiwi Secures $24M, OYO Eyes $7-8 Bn IPO & More

    On 25 August 2025, India’s startup and business ecosystem witnessed a flurry of activity across funding, IPO filings, and strategic expansions. From space-tech innovations to fintech, B2B SaaS, and molecular diagnostics, startups raised significant capital to scale operations, while established companies like OYO and Molbio Diagnostics took steps towards public listings. So, here’s your quick roundup for the key funding updates and business highlights in India today.

    Daily Indian Funding Roundup – 25th August 2025

    Company Amount Round Lead investor(s) Sector
    Palmonas ₹55 Cr Series A Vertex Ventures SE Asia & India Jewellery / D2C
    WizCommerce $8 Mn Series A Peak XV Partners B2B SaaS / Wholesale tech
    CredRight $10 Mn Series B Abler Nordic NBFC / MSME lending
    Wastelink ₹27 Cr Series A Avaana Capital Cleantech / Animal feed upcycling
    Harajuku Tokyo Café $2 Mn Seed Indian Angel Network (IAN) F&B / QSR
    Altum Credo Home Finance ₹170 Cr Equity round British International Investment (BII) Housing finance (HFC)
    Kiwi $24 Mn Series B Vertex Ventures SE Asia & India Fintech / Credit on UPI
    Enmovil $6 Mn Series A Sorin Investments AI supply-chain software
    Omspace Rocket & Exploration ₹25 Cr Pre-seed Family office of Mr Surya (Dubai) via Bestvantage Investments Space-tech / Reusable launch vehicles

    Palmonas raised INR 55 crore in Series A

    Palmonas, a demi-fine jewellery brand, has secured INR 55 crore in a Series A round led by Vertex Ventures SEA & India. Co-founded by Shraddha Kapoor, Amol Patwari, and Pallavi Mohadikar, the brand plans to open 100 new stores and pursue global expansion.

    WizCommerce raised $8 million in Series A

    WizCommerce, an AI-native platform for wholesale distribution, raised $8 million in a Series A round led by Peak XV Partners, with participation from Blume Ventures, Z47, and Alpha Wave Global. The platform already reports $100M+ GMV, supporting 700+ sales reps and 300K+ buyers. Funds will be used to deepen AI capabilities and expand in the US market.

    CredRight raised $10 million in Series B

    Hyderabad-based NBFC CredRight raised $10 million in a Series B round led by Abler Nordic, with continued backing from the Michael & Susan Dell Foundation and Unleash Capital. CredRight, which follows a phygital model through about 125 branches, serves more than 20,000 micro-enterprises. The fresh funds will help expand its loan book and technology.

    Wastelink, a cleantech startup transforming food loss into sustainable animal feed, has secured INR 27 crore ($3 million) in a Series A round led by Avaana Capital. Its proprietary product, ECOMIX™, standardises upcycled feed ingredients. The funding will aid in scaling operations and enhancing price stability for manufacturers and farmers.

    Harajuku Tokyo Café raised $2 million in Seed

    Delhi NCR-based Harajuku Tokyo Café raised $2 million (INR 19 crore, as stated by the company) in a Seed round, co-led by the Indian Angel Network (IAN), along with Samved VC and LetsVenture. Additionally, Capitar Ventures extended venture debt. The funds will support outlet expansion and brand growth in India’s quick-service restaurant (QSR) segment.

    Altum Credo Home Finance raised INR 170 crore in equity

    Altum Credo Home Finance, a Pune-based housing finance company, secured INR 170 crore ($19.5 million) from British International Investment (BII). The fresh capital will be used to strengthen its balance sheet and expand operations across existing geographies.

    Kiwi raised $24 million in Series B

    Kiwi, a Bengaluru-based fintech startup enabling RuPay credit cards on UPI, raised $24 million (INR 208 crore) in a Series B round. The round was led by Vertex Ventures SEA & India, with participation from Nexus, Stellaris, and Omidyar Network. Kiwi aims to issue 1 million credit cards by 2027.

    Enmovil raised $6 million in Series A

    Hyderabad-based Enmovil, an AI-native supply chain platform, raised $6 million in a Series A round led by Sorin Investments, with participation from Capria Ventures and Twynam. The startup works with clients in automotive, FMCG, energy, and telecom infrastructure sectors. Funds will be deployed to scale sales and advance AI capabilities.

    Omspace Rocket & Exploration raised INR 25 crore in Pre-seed

    Omspace Rocket & Exploration, a space-tech startup based in Ahmedabad, has raised INR 25 crore in a pre-seed round, facilitated by Bestvantage Investments and led by the family office of Dubai-based investor Mr Surya.

    The funding will accelerate engine testing, sub-orbital rocket launches, reusability trials, and system integration. Omspace, supported by IN-SPACe and the ISRO startup ecosystem, aims to grow India’s share of the global small satellite launch market from 2% to 15% by 2035.

    Key Business News for 25th August 2025

    OYO to File DRHP in November, Aiming for $7-8 Billion IPO Valuation

    OYO, the SoftBank-backed travel technology company, is reportedly preparing to file its Draft Red Herring Prospectus (DRHP) in November, targeting an IPO valuation of $7-8 billion (approx. INR 70 per share), equivalent to some 25–30× EBITDA. The company is said to be in advanced discussions with banks including Axis, Citi, Goldman Sachs, ICICI, JM Financial, and Jefferies (London). A spokesperson declined to comment on the timeline, saying the decision lies with OYO’s board.YourStory.com

    Molbio Diagnostics Files DRHP for INR 200 Crore Fresh Issue IPO

    Molbio Diagnostics Ltd., the Goa-based molecular diagnostics firm behind the WHO-endorsed Truenat platform, has filed a DRHP with SEBI. The IPO includes a fresh issue of INR 200 crore and an offer-for-sale (OFS) by existing stakeholders such as Exxora Trading LLP, Dr Chandrasekhar Bhaskaran Nair, V Sciences Investments, and India Business Excellence Fund III. The company reported INR 1,272.7 crore revenue and INR 311.7 crore profit in FY25. The listing will be managed by Kotak Mahindra Capital, IIFL Capital, Jefferies India, and Motilal Oswal, with KFin Technologies as registrar.

    WinZO Forays into Micro-Dramas and Expands into the US

    WinZO, the Indian social-gaming and entertainment platform, is pivoting following the Indian government’s ban on real-money gaming (RMG). It has launched WinZO TV, a micro-drama feature serving 1–2-minute serialised episodes, initially free, with later episodes priced at INR 2. The company has also debuted in the USA, marking its third international market after Brazil. With a user base of 250 million, WinZO is exploring subscription-led monetisation and digital content.

    Indian Startup Funding Updates for 2025 (Updated Weekly)
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  • Coinbase CEO Says Bitcoin Can Reach $1M. Far-Fetched Dream or Future Reality?

    The CEO of the largest U.S. crypto exchange, Coinbase, Brian Armstrong, states that the worth of Bitcoin (per coin) could reach $1 million by 2030. Currently, Bitcoin’s price is $111,610.30 USD, which is well below one million. To make that huge jump, a lot of things need to change. However, Armstrong believes it’s possible because some changes are already starting to happen. These include increased trust from governments, easier regulations, growing investors, ETFs, and more. Now, why should you care about the news? If Bitcoin goes full-on mainstream, it could one day become just like gold or stocks (a good investment option for you). So, here’s why he thinks progress is near.  

    Government Involvement in Bitcoin

    March 6, 2025, U.S. President Donald Trump signed an “executive order to create a strategic reserve of bitcoin,” citing the government’s interest and trust in bitcoin. This means that the U.S government is officially buying and holding bitcoin. 

    This order is massive because governments before were skeptical and felt sketchy about it. According to Coinbase’s website, they are apparently working with 145 U.S. government entities and 29 international government entities. 

    Ease of Regulation Around Bitcoin…

    Previously, there were several speculations about buying Bitcoin. Is it even legal? If someone purchases it, how should it be taxed? Should banks be allowed to use Bitcoin? And more. 

    In 2014, JPMorgan CEO Jamie Dimon, in an interview with CNBC, said, “It’s a terrible store of value, it can be replicated over and over. It doesn’t have the standing of a government.” 

    Later in 2017, BlackRock CEO Larry Fink said, “Bitcoin is an index of money laundering.” 

    According to Armstrong, rules and regulations are becoming clearer. With regulations easing, big investors like pension funds, insurance companies, and hedge funds feel more comfortable investing in Bitcoin. 

    He says, big investors only put about 1% of their portfolio in Bitcoin, but now with more precise regulation, they could increase that to 5–10%. 

    ETFs (Exchange-Traded Funds)

    Armstrong emphasises how ETFs are a game-changer. He says that since Bitcoin ETFs launched, investing in Bitcoin has become simple and mainstream. ETFs allow regular people to easily buy Bitcoin without having to handle it directly. 

    Final Thoughts…

    Two big questions restrained people from investing in Bitcoin for a long time. What if governments ban Bitcoin someday? What if the Bitcoin code has a big bug and everything is gone?

    However, Armstrong says that these risks are now smaller. Why? Because the changes are already happening, and $1 million is attainable by 2030. There is a shift in the government’s trust, and that risk is much smaller. But there is a need to upgrade to post-quantum cryptography, meaning a super-secure encryption. So, no supercomputer can break into Bitcoin’s encryption.

  • Palmonas, Co-Founded by Shraddha Kapoor Secures ₹55 Cr Series A from Vertex Ventures SEA & India

    Palmonas, India’s leading demi-fine jewellery brand has raised ₹55 crore in a Series A funding round led by Vertex Ventures SEAI. This strategic investment will fuel Palmonas’ vision to make demi-fine jewellery a household name in India, and take everyday luxury to global markets. 

    Founded in 2022 by Shraddha Kapoor, Amol Patwari (Co-founders) and Pallavi Mohadikar (CEO & Co-founder), Palmonas is creating design-led, high-quality jewellery that fits seamlessly into the daily lives of modern consumers. Built to bridge the gap between fast fashion and fine jewellery, its waterproof and skin-safe pieces combine fine craftsmanship with everyday practicality. The brand has quickly gained traction, fulfilling over 6.5 lakh orders and building a strong community of repeat customers. With a focus on making jewellery a true everyday essential, Palmonas is redefining what luxury means for a new generation. 

    The new funding will enable Palmonas to strengthen its signature 9kt gold demi-fine collection, open 100 new stores in the next 12 months, double down on its best-selling categories, and create immersive brand experiences that transform first-time shoppers into lifelong customers, while cementing its position as the go-to destination for everyday luxury jewellery. 

    “Jewellery should feel like a second skin, beautiful, effortless and part of your everyday life. Palmonas was born from the belief that jewellery should be part of your daily story and not locked away for special occasions. This investment means we can take that belief to every corner of India, and eventually, the world.” said Shraddha Kapoor 

    Adding to the statement, Pallavi Mohadikar, CEO & Co-Founder, Palmonas, said, “Ten days after the idea of Palmonas was born, we launched our first collection. That same spirit of speed, ambition, and customer obsession drives us today. With this capital, we’re ready to expand faster, design bolder, and bring Palmonas into the everyday lives of millions. Our customers have shaped Palmonas into what it is today, they told us what they wanted, and we built it. This funding will allow us to double down on that promise: more innovation, more designs, and a seamless shopping.