Startup Story®

Union Minister for Road Transport and Highways Nitin Gadkari has announced that the price gap between EVs and petrol-powered vehicles will disappear within the next six months. This shift is expected due to advancements in battery technology, increased domestic production, and lower costs of lithium-ion batteries. India’s EV market is already seeing impressive growth: 27% surge in EV sales in 2024, reaching 1.94 million units. Electric two-wheelers (E2Ws) led the segment, while electric passenger vehicles saw a 20% increase, with Tata Motors selling 61,496 EVs despite its market share dropping from 73% to 62%. As EVs become more affordable, mass adoption of clean mobility could soon become a reality, driving India towards a greener and more sustainable future. #evmobility #electricvehicles #cleanenergy #evadoption #sustainability #automotive #futureoftransport #evmarket #greenmobility #evtech

Mumbai-based Magenta Mobility has secured ₹100 Cr (about $11.5 Mn) in its pre-Series B round, with BP Tech Ventures and Morgan Stanley India Infrastructure investing ₹25 Cr each, while the remaining ₹50 Cr was raised via debt funding. The startup, founded by Maxson Lewis in 2018, initially focused on EV charging solutions but has now shifted to offering vehicle fleets for last-mile deliveries, working with Amazon and Flipkart. It currently operates a fleet of 2,700 electric three-wheelers and manages 100 charging depots. To strengthen its fleet business, Magenta Mobility recently placed an order for 100 Eicher Pro X small trucks, which will be deployed in major cities, including Mumbai, Delhi NCR, Bengaluru, Hyderabad, and Chennai. Additionally, the company recently launched NorMinc, a vehicle management platform that offers real-time insights, predictive analytics, and operational control for fleet operators. Read more at: https://lnkd.in/gBBYKgrb #evmobility #startups #fundingnews #electricvehicles #sustainability #lastmiledelivery #fleetmanagement #mobilitytech #evcharging #startupstory

The Delhi High Court has issued a stern warning to Rapido, asking the ride-hailing platform to improve its app’s accessibility for specially-abled persons within four months or “pack up from India.” The Court’s directive comes after a petition revealed that Rapido’s own accessibility audit report flagged 81 major failures and 170 accessibility errors at the base level of WCAG Level A compliance. The HC has also summoned the joint secretary of the Ministry of Road Transport and Highways (MoRTH) to explain the lack of enforcement regarding accessibility norms. With accessibility activists pushing for inclusive tech, this ruling could have a significant impact on the ride-hailing sector and set a precedent for ensuring digital platforms prioritize accessibility. Read more: https://lnkd.in/gbUXFYHT #accessibility #inclusivetech #delhihc #rapido #startupnews #techforgood #digitalinclusion #wcag #technews #startupstory

Food and grocery delivery giant Zomato has officially rebranded its corporate entity to Eternal Limited, effective March 20, 2025, following approval from the Corporate Affairs Ministry (MCA). While the Zomato brand and app will retain its original name, the corporate entity and stock ticker will now reflect the new identity. The move comes as Blinkit, Zomato's quick commerce arm, becomes a significant driver of its future growth. As Deepinder Goyal, Founder & CEO, stated: "We also thought that we would publicly rename the company to Eternal, the day something beyond Zomato became a significant driver of our future. Today, with Blinkit, I feel we are there." Eternal Limited will now oversee four major businesses: ✅ Zomato – Food delivery ✅ Blinkit – Quick commerce ✅ District By Zomato ✅ Hyperpure by Zomato – B2B supplies 🔗 Read more: https://lnkd.in/gv4rM8ZN #zomato #eternallimited #blinkit #branding #startupnews #foodtech #ecommerce #startupstory

Auto giant Hero MotoCorp is making a bold move into the electric three-wheeler market with a ₹525 Cr investment in Euler Motors, founded by Saurav Kumar. This strategic deal will see Hero MotoCorp acquire a 32.5% stake in the EV startup through a mix of primary and secondary investments, with the transaction expected to close by April 2025. With this investment, Hero aims to diversify its mobility portfolio and strengthen its presence in the rapidly growing EV ecosystem. As Pawan Munjal, Executive Chairman at Hero MotoCorp, highlighted: “… This investment reinforces our commitment to accelerated growth through both organic and inorganic expansion, while highlighting the power of collaboration and adaptability in an ever-evolving market.” The deal comes as Euler Motors continues to scale, reporting a multifold rise in turnover to ₹172 Cr in FY24 and expanding its reach across 30+ cities with 500+ charging hubs. With India witnessing a surge in EV adoption, this collaboration is set to unlock new growth opportunities in the last-mile delivery and logistics sector, while boosting Hero's leadership in sustainable mobility. Read more at: https://lnkd.in/g6kUAd42 #ev #electricvehicles #heromotocorp #eulermotors #sustainablemobility #startupnews #logistics #lastmiledelivery #startupstory

Navadhan Capital, a rural India-focused fintech startup, has raised INR 111 Cr ($12.8M) in its Series A funding round, exceeding its initial target of INR 80 Cr. The round was led by NABVENTURES Fund, the VC arm of NABARD, and co-led by Prime Ventures (VC), with participation from LNB Group and existing backers Varanium NexGen Fintech Fund, Gemba Capital, Faad, VC-Grid, and Anicut. Founded in 2019 by Nitin Agrawal, Vijay Haswani, Anirudh Ramakuru, and Amit Ranjan Biswal, Navadhan offers financial solutions to small businesses and microenterprises through its AceN platform. The startup provides end-to-end services, including customer sourcing, digital onboarding, underwriting, payments, and collections. It leverages data science-powered underwriting models to assess borrowers' digital footprints and cash flows. With over INR 700 Cr of debt lines from 25+ banks and NBFCs, Navadhan operates across 700 pincodes in five states – Madhya Pradesh, Rajasthan, Gujarat, Karnataka, and Odisha. With this fresh capital, Navadhan plans to enhance its tech platform, expand its footprint, and diversify its loan offerings, further driving financial inclusion in rural India. #fintech #startup #funding #seriesafunding #navadhan #rural #financial #inclusion #msme #ruralindia #nabventures #primeventures #fintechgrowth #startupstory

Purple Style Labs (PSL), the parent company of Pernia’s Pop-Up Shop, has raised $40 million (INR 348.2 Cr) in its Series E funding round, a mix of primary infusion (40%) and secondary share sale (60%). The round was led by: ✅ SageOne Flagship Growth OE Fund ✅ Alchemy Long Term Ventures Fund ✅ Minerva Ventures Fund ✅ Bajaj Holdings and Investment It also saw participation from S Four Capital, Sopariwala Exports, Kemfin Family Office, Cordelia Family Trust, Weikfield Family Office, Salil Taneja Family Office, and PKM Capital (Mehta Family Office), among others. Notably, celebrities like Shraddha Kapoor, Sachin Tendulkar, Salman Khan, and Surya Kumar Yadav also invested in the round. Founded in 2015 by Abhishek (Monty) Agarwal, Purple Style Labs incubates young designer brands and supports them with sales, marketing, and technical expertise. The startup currently operates 15 Pernia’s Pop-Up Studio experience centres in India and one in London, with plans for aggressive domestic and international expansion. The company aims to expand in New York, Los Angeles, Dubai, Mumbai, and Delhi, while enhancing its presence in Tier II Indian markets. With a CAGR of over 100% between FY21 and FY24 and revenue crossing INR 500 Cr in the previous fiscal year, Purple Style Labs is rapidly redefining the luxury fashion retail landscape. #startupfunding #fashiontech #luxuryfashion #vcfunding #indianstartups #fashionretail #startupstory

Yashaa Global Capital, a venture capital fund dedicated to sports, has received the Financial Services Permission (FSP) from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM). This milestone marks the fund’s official establishment in Abu Dhabi’s leading financial hub, positioning it as a key driver of global investments in sports, esports, and gaming. Led by General Partners Shikhar Dhawan, Mohammed Sirajuddin, Arif P., and Dr. Victor Tay, Yashaa Global Capital aims to empower visionary sports businesses by offering mentorship, strategic partnerships, and growth opportunities. With a $75M corpus, including a $25M greenshoe option, the fund will deploy capital across SportsTech, Fitness & Wellness, Esports & Gaming, MediaTech, Leagues, and Teams, bridging the gap between global investors, startups, and sports entrepreneurs. As Shikhar Dhawan stated: “ADGM’s stable regulatory environment and strategic location at Capital of Capital Abu Dhabi, make it the perfect base for our fund. This is an exciting opportunity to create a global impact and contribute to the evolving landscape of sports entrepreneurship.” With ADGM’s support and the backing of elite athletes, Yashaa Global Capital is set to redefine sports-focused investments, fostering innovation, scalability, and exceptional value for founders and investors alike. #venturecapital #sportsvc #sportsinvestments #adgm #yashaaglobalcapital #sportsfund #startups #esports #gaming #sportsbusiness #sportsinnovation #vcfunding #startupstory

Guilt-free ice cream brand Go Zero has secured ₹30 crore in its Series A round, backed by DSG Consumer Partners, Saama Capital, V3 Ventures, along with Aman Gupta (Shark Tank India) and Namita Thapar. With this latest funding, Go Zero has now raised a total of $6 million to date. The company plans to enhance product innovation, expand its supply chain, and strengthen its presence in Tier I and Tier II cities through platforms like Blinkit, Instamart, and Zepto. As Kiran Shah, Founder and CEO of Go Zero, stated: "The demand for 'better-for-you' products is no longer niche; it's a mainstream shift. This funding will accelerate our mission to bring healthier indulgence to more households across India." With 100% sugar-free, low-calorie ice creams, Go Zero is redefining the guilt-free dessert segment. Despite January being an off-season, the brand achieved its highest-ever sales in January 2025, surpassing ₹5 crore in revenue. Ash Lilani (Founder and Managing Partner, Saama Capital) and Arjun Vaidya (Investor) highlighted Go Zero’s potential to cater to India’s growing demand for sugar-free desserts, especially with 280 million Indians diabetic or pre-diabetic. With two manufacturing units in Mumbai and Bengaluru and new products like kulfi sticks and cassata in the pipeline, Go Zero is set for massive growth! Read more: https://lnkd.in/gkcuPbDF #startupfunding #foodtech #guiltfreeindulgence #gozero #seriesafunding #sugarfree #healthyfood #startupgrowth #indianstartups #startupstory

Skechers, the Comfort Technology Company, has signed Jasprit Bumrah, one of the world’s leading bowlers, as its latest brand ambassador. Bumrah will compete in Skechers Cricket footwear and feature in the brand’s marketing campaigns, supporting both its performance and lifestyle collections. Expressing his excitement, Bumrah said: “I joined the Skechers family as they are known for blending comfort with cutting-edge innovation. Their wide range of offerings makes it a perfect fit for athletes who value performance without compromising on style, especially for bowlers like me.” With Bumrah joining stars like Ishan Kishan and Yastika Bhatia, and Skechers serving as the official kit sponsor for Mumbai Indians, the brand is making significant strides in cricket. Rahul Vira, CEO of Skechers South Asia Pvt. Ltd., highlighted the partnership's synergy: “Jasprit Bumrah’s relentless pursuit of excellence perfectly aligns with Skechers' commitment to innovation and performance. We’re excited to further elevate our journey in cricket and continue shaping the future of sports culture in India.” This collaboration not only boosts Skechers' presence in cricket but also underscores its commitment to cutting-edge performance footwear. #jaspritbumrah #skechers #cricket #sportsmarketing #brandambassador #sportsfootwear #cricketsponsorship #mumbaiindians #startupstory