Introduction
“The Indian startup ecosystem maintains its vibrant transformation, with new financing rounds, revolutionary technologies, and strategic realignments defining the country’s entrepreneurial agenda.”
Indian startup ecosystem is experiencing an upsurge. Find the latest investments, tech developments, and market trends unfolding in real-time.
“India’s spirit of entrepreneurship is as strong as ever. We’re monitoring the latest startup stories, showcasing the companies and entrepreneurs that are innovating beyond limits.”
Pluckk raise $10M in at $55M valuation
Pluckk is set to raise ₹85 crore ($10 million) in Series A, marking its first major fundraising in three years. Post-funding, Pluckk’s valuation will be around $50-55 million
Founded in 2021, Pluckk is a farm-to-fork platform delivering fresh, lifestyle-focused produce, including vegan, carb-alternative, and gut-health products.
The company is targeting a ₹200 crore ARR for FY25, having grown 25.6% YoY in FY24 to ₹42.8 crore (from ₹34 crore in FY23), with a loss of 41.03 crore.
Pluckk competes with Gourmet Garden, Kisankonnect, and Otipy, while Deep Rooted and Fraazo shut down despite raising significant funding.
Smallcase raise $50M in Series D
Smallcase raised $50 million in its Series D round led by Elev8 Venture Partners.
Total funding raised by Small case is around $120 million, including $40 million in Series C led by Fearing Capital in August 2021.
The funding round comes after a gap of 3.5 years.
Founded in 2016, Small case provides a model portfolio platform with over 10 million investors.
Revenue surged to ₹67.4 crore in FY24, up from 30.6 crore in FY23.
Losses reduced by 74.4% to ₹34 crore due to lower advertising and employee costs.
Indian wealth tech startups have raised $250 million across 15 deals in the last 18 months.
BluSmart deploy its 300 EV cabs on Uber
BluSmart will deploy around 300 EV cabs on Uber’s platform as part of an experiment, amidst financial troubles.
Uber and BluSmart have been in talks for months, following a standard aggregator model where Uber charges a commission per ride.
BluSmart is facing funding challenges, with several senior executives, including CEO, CBO and CTO resigning and serving notice periods.
BluSmart had a previous partnership with Rapido, allowing its drivers to accept Rapido bookings, but the arrangement ended due to liquidity issues.
Rapido reportedly generated more demand for BluSmart than its own app, which operates only on a scheduled-ride model, unlike Rapido and Uber’s on-demand services.
BYD plan to invest Rs 85,000 cr in Hyderabad
BYD is reportedly planning a ₹85,000 crore ($10 billion) investment in Hyderabad to set up an EV manufacturing facility.
The plant is expected to span over 500 acres and have a production capacity of 600,000 EVs by 2032.
A 20 GWh battery production unit is also planned, which could help reduce EV prices and strengthen BYD’s presence in India.
BYD has been scouting for land in Telangana, with Hyderabad likely to be the final location.
Telangana’s EV policy, which waives road tax and registration fees until 2026, aims to accelerate EV adoption.
If finalized, this facility would make Hyderabad a major hub for EV manufacturing in India.
Govt to launch own Truecaller alternate
India’s major telecom operators-Vodafone Idea, Bharti Airtel, and Reliance Jio-are working on implementing Caller Name Presentation (CNAP).
This feature will display the name of incoming callers without needing third-party apps like Truecaller.
Global tech firms like HP, Dell, Ericsson, and Nokia are assisting in the development of the necessary infrastructure.
Trials have been conducted in select regions, and rollout will happen in phases.
The Department of Telecommunications (DoT) instructed operators to implement CNAP in 2025.
The system will use names from Customer Application Forms (CAF) submitted during SIM registration.
CNAP will initially function only within a single telecom network, pending regulatory approval for cross-operator data sharing.
Feature phone and 2G users won’t be able to use CNAP due to technological constraints.
To combat spam and scam calls, the initiative addresses the over 256,000 complaints logged on the ‘Sanchar Saathi’ portal since May 2023.
Truecaller welcome Govt’s caller ID initiative
Truecaller has welcomed India’s CNAP initiative, stating it will complement its caller ID service rather than harm its business.
CNAP will use KYC data for caller identification, but challenges like multiple SIMs linked to the same ID, which could create inaccuracies.
Truecaller has 270 million users in India, The company has partnered with government agencies, verifying 25,000 official numbers, including those from the Income Tax Department and police forces.
The company is focusing on monetization through ads, premium services, and enterprise solutions.
Truecaller remains open to acquisitions in India to enhance its offerings.
Govt approve ₹25,000 crore electronic PLI
Indian government has approved a ₹25,000 crore PLI scheme to boost local manufacturing of key electronic components like batteries, displays, camera modules, and PCBs.
This move aims to reduce import dependency and strengthen India’s electronics supply chain.
India’s electronics production has more than doubled in six years, reaching $115 billion in 2024, driven by major mobile manufacturers such as Apple and Samsung.
The new PLI scheme is expected to attract more investments and create jobs.
The government is now open to joint ventures with Chinese firms, provided they are part of the global value chain and work with international brands.
Each proposal will be evaluated individually by an inter-ministerial committee led by the Home Ministry.
JioHotstar crosses100M paid subscribers
JioHotstar, the merged streaming platform of Disney+ Hotstar and JioCinema, has surpassed 100 million paid subscribers, making it the dominant player in India’s OTT market.
With Nita Ambani as chairperson and Uday Shankar as vice-chairperson, the platform was launched after Reliance Industries’ purchase of Disney’s India assets.
JioHotstar’s paid subscriber base far exceeds Netflix’s (~15 million) and Prime Video’s (~18 million), with a content library 3-4 times bigger than Netflix’s in India.
Industry experts suggest JioHotstar might consider acquiring smaller, language-specific streaming platforms to expand its reach.