News

Licious, the Bengaluru-based unicorn in the fresh meat and seafood delivery market, has raised significant attention with its recent funding and strategic shifts. In the past few months, the company has been focusing on achieving profitability and growth as it prepares for a potential IPO in the next 2-3 years.
The meat delivery platform, which saw explosive growth a few years ago, is now aiming to expand its reach by opening 500 stores across 20 cities over the next five years. Licious has already demonstrated strong financial performance with a monthly revenue run rate of around Rs 72 crore in FY24 and plans to scale this to Rs 100 crore by March 2025. The company has also reduced its burn rate substantially while increasing its gross margins to nearly 30%​.
Licious has also made strides in leadership, bringing on Karishma Gupta as CFO to navigate the company's expansion and profitability efforts. This move signals a shift from aggressive growth to a more sustainable, profit-driven approach​.
While its growth trajectory has faced challenges—including a slowdown in revenue and losses amounting to Rs 500 crore in FY23—the company remains committed to stabilizing its operations and addressing competition from newer and established players in the market​
For further details, you can explore Licious's current plans and funding news on Business Standard and TICE News.

Revenue Drop in FY24: mCaffeine, the popular caffeine-infused personal care brand, reported a 6% decline in revenue for FY24, dropping from ₹205.3 crore in FY23 to ₹193 crore. This decline comes after years of rapid growth, where revenue had surged from ₹40 crore in FY20. The company attributes the dip to weaker sales in its core product segments. Despite this, mCaffeine reduced its advertising expenses and employee costs to improve its financial position. However, the brand still reported a loss of ₹85.41 crore, though this was a slight improvement over the previous year’s ₹91.6 crore loss.

New ESOP Scheme to Reward Employees: In a major move, mCaffeine introduced an Employee Stock Ownership Plan (ESOP), aiming to create 100 crorepati employees. More than 50% of its 600+ employees across different verticals are eligible. The initiative reflects the company’s long-term vision to retain and motivate talent as it prepares for future expansion.

While facing financial hurdles, mCaffeine remains committed to innovation and workforce growth, signaling its intent to bounce back strongly in the competitive personal care industry.

Zen Mobility is driving transformation in India's urban logistics by launching innovative electric vehicles (EVs) designed for last-mile delivery. Recently, the company introduced its Zen Micro Pod, a cargo three-wheeler offering impressive payload capacities and a range of over 120 kilometers per charge. With pre-orders for 10,000 units from top logistics companies and a manufacturing facility capable of producing 100,000 vehicles annually, Zen Mobility is poised to revolutionize the last-mile delivery segment​.
Additionally, Zen Mobility is expanding its range with the Zen Maxi Pod, a four-wheeled LEV designed for larger cargo, set for release in FY25. The company is also ramping up production capabilities, including complete in-house customization for cargo solutions tailored to industries like e-commerce, grocery delivery, and pharmaceuticals​. This move aligns with Zen's mission to contribute to India's net-zero goal by supporting the transition to green mobility​.

Otipy, a leading agritech startup specializing in fresh produce delivery, has partnered with the Open Network for Digital Commerce (ONDC) to expand its operations nationwide. This collaboration will allow Otipy to leverage ONDC’s seller apps, such as Pincode and Paytm, to reach more consumers, especially in Tier 2 and Tier 3 cities.

The company, founded in 2020 by Varun Khurana and Prashant Jain, operates as a B2B2C social commerce platform, offering farm-fresh vegetables, fruits, dairy, and groceries. Otipy’s supply chain model ensures delivery within 12 hours of harvest while maintaining a low wastage rate of just 3%.

With an annual recurring revenue (ARR) of ₹240 crore, Otipy is now planning a Series C funding round of approximately $75 million to fuel further expansion. The startup aims to extend its presence to cities like Hyderabad, Bengaluru, and Chennai by the end of the year.

Delhi-based fintech startup Sqrrl has successfully raised $1 million (₹6.8 crore) in a pre-Series A round from Equanimity Venture Fund. The company plans to leverage AI and machine learning to enhance its investment recommendation engine and streamline its onboarding process.

Founded by Dhananjay Singh, Sanjeev Sharma, and Samant Sikka, Sqrrl offers an intuitive investment platform that helps users invest in mutual funds based on their financial goals. The app has already amassed over 150,000 downloads, with a significant chunk of users under the age of 35.

As part of the funding deal, Rajesh Sehgal, Managing Partner at Equanimity Investments, has joined the board of Sqrrl. The startup was also incubated at JioGenNext, an accelerator program by Reliance Jio and Microsoft Ventures.

Currently, Sqrrl's valuation stands at $4.62 million, and it faces competition from platforms like Scripbox, FundsIndia, and Kuvera.

Jumbotail, a leading B2B e-commerce marketplace for food and grocery products, is rapidly expanding its footprint across India. The company has recently enhanced its services for kirana stores by integrating its "J24" platform, which digitizes in-store operations, including inventory management, real-time analytics, and B2C online stores. This initiative aims to transform traditional kirana outlets into modern, omnichannel grocery stores within 24-48 hours.

With a robust logistics and fulfillment network, Jumbotail connects nearly 2,000 brands with approximately 150,000 retailers in over 38 cities. The company is actively investing in expanding its engineering, product, and supply chain teams to accelerate its growth trajectory. This vision aligns with its goal of supporting the next generation of FMCG brands by offering cost-effective scaling solutions​

Advancing Digital Health Innovation in India
1. Medix Global recently announced the finalists for its Digital Health Innovation Challenge in India. The initiative drew over 110 applicants proposing cutting-edge solutions to enhance healthcare accessibility, promote health literacy, and improve patient outcomes. Five finalists will compete for funding, mentorship, and strategic partnerships to scale their ventures. This challenge underscores Medix's commitment to transforming healthcare delivery using innovative digital solutions.

2. Partnership with AIA for Personalized Medical Care
Medix Global has extended its strategic partnership with AIA, providing Personal Medical Case Management Services (PMCM) across the Asia-Pacific region. This collaboration empowers patients with personalized medical advice from a network of over 3,000 specialists. It reflects Medix's dedication to improving care quality and democratizing healthcare through accessible, expert-guided medical journeys.

These developments highlight Medix Global's role as a leader in integrating technology and partnerships to reshape healthcare.

Practo, a leading digital healthcare platform, has reported significant financial and operational milestones in FY24. The company achieved revenue growth of 22%, reaching ₹240 crore, while dramatically narrowing its losses to ₹17 crore from ₹99 crore in FY23. This marks its first full profitable quarter and demonstrates a sustainable path forward​.
The platform, which connects patients with over 1 lakh verified doctors, reached a GMV of ₹3,500 crore. It has also focused on core business expansion within India, increasing contribution margins from -1% in FY22 to 40% in FY24. Practo plans to extend its footprint domestically and globally while leveraging AI to enhance healthcare delivery, including tools for diagnosis, digital prescriptions, and clinic management​.
Additionally, the Practo Foundation's initiatives, like its affordable cataract surgeries program, highlight its commitment to accessible healthcare. With ambitions to double down on AI-driven innovation, the company aims to solidify its leadership in the health-tech sector​.

Registering Bluestock as a trademark under Class 36, which includes services related to financial affairs, monetary affairs, and banking, provides us with exclusive rights to use the Bluestock name and logo in connection with our offerings. This legal protection ensures that our brand remains distinct in the market, shielding us from potential infringements and misuse by competitors. website : www.bluestock.in

Google-backed agritech startup Cropin Technology, on April 16 launched ‘akṣara,’ a purpose-built open-source Micro Language Model (MLM) for climate smart agriculture. The model will help anyone in the agriculture ecosystem to build frugal and scalable AI solutions for the sector.

Open Secret, a Mumbai-based direct-to-consumer health snack brand, has successfully secured Series B funding in 2022. The investment round was led by Ananta Capital, with participation from existing investors such as Sixth Sense Ventures and Matrix Partners India. The fresh capital will be used to launch new products, enhance production capabilities, improve technology infrastructure, and broaden its omnichannel distribution.
Since its founding in 2019, Open Secret has grown rapidly, driven by a significant demand for healthy alternatives to traditional snacks. The company has expanded its product portfolio significantly, adding nine new categories in the last year alone. With the new funding, Open Secret aims to further solidify its position in India’s $15 billion snacking industry and become the go-to brand for healthy snacking.

Emami Ltd has finalized a deal to acquire the remaining 49.6% stake in Helios Lifestyle, the parent company of The Man Company, for ₹177.63 crore. This move grants Emami full ownership of the premium men's grooming brand. The company, which already held a 50.4% stake, will now integrate The Man Company as a wholly owned subsidiary.

Founded in 2015, The Man Company specializes in high-quality grooming products, including skincare, haircare, fragrances, and beard care. The acquisition is part of Emami’s strategy to strengthen its presence in the fast-growing male grooming market, leveraging the brand’s digital-first approach.

Emami’s Vice Chairman & MD, Harsha V Agarwal, stated that the company aims to expand its footprint in emerging segments through strategic investments in digital-first brands. The founders of The Man Company, Hitesh Dhingra and Bhisham Bhateja, expressed confidence in Emami’s ability to accelerate the brand’s growth and take it to a global level.

MoEVing has recently expanded its operations by acquiring EVonGO, the mobility business of Euler Motors, marking a major milestone in its journey. This acquisition adds 300 new L5 electric vehicles to MoEVing’s fleet, boosting the company’s size by 30%. As a result, MoEVing now operates the largest commercial electric vehicle fleet in India, with a total of 1,400 L5 vehicles.
This strategic move will help MoEVing strengthen its presence in key cities like Delhi NCR, Bangalore, and Hyderabad. By integrating EVonGO’s customer base, vehicles, team, and infrastructure, MoEVing aims to set new benchmarks in the electric vehicle logistics industry, contributing significantly to reducing carbon emissions and improving operational efficiency.
The acquisition also highlights MoEVing's commitment to transforming logistics with sustainable solutions, further solidifying its position as a key player in India’s fast-growing electric vehicle sector​

KisanKonnect, a direct-to-consumer (D2C) fresh-commerce startup, has raised $4.5 million in a Series A funding round led by Mistry Ventures. Other key investors include Times Group’s Brand Capital, VC-Grid, Vishwang Desai, and notable family offices. Bollywood actress and fitness icon Shilpa Shetty also participated in the funding round.

The startup, founded in 2020, has built a tech-enabled supply chain, connecting over 5,000 farmers and promoting sustainable agriculture. With this investment, KisanKonnect plans to enhance its technology infrastructure, scale operations, and expand in urban markets. It has already introduced a rapid delivery model, reducing delivery time from 48 hours to just 4-6 hours in Mumbai and Pune, with plans to pilot a 30-minute delivery service​.

Volopay, a Singapore-based fintech startup specializing in corporate cards and expense management, is aiming to achieve break-even by 2025 while expanding aggressively across Asia-Pacific and MENA regions. The company is focusing on building its own financial infrastructure rather than relying on third-party providers, ensuring better scalability and customer experience.

Earlier, Volopay secured $29 million in Series A funding from investors including Tinder founder Justin Mateen’s JAM Fund, Winklevoss Capital, and Rapyd Ventures. These funds are being used to enhance integrations with major ERP, HRM, and CRM platforms while expanding its services in India, Australia, Indonesia, and the Middle East​

GoKwik, a leading Indian e-commerce enablement platform, has recently gained attention with its strategic partnerships and initiatives. The company announced a collaboration with CRED during Shark Tank India Season 3 to offer tailored support for D2C participants, enhancing their e-commerce capabilities. This initiative showcases GoKwik's commitment to driving growth for Indian brands through innovative solutions​.
In a significant milestone, GoKwik also acquired Return Prime, a Shopify app focused on simplifying return and exchange processes. This acquisition marks GoKwik's foray into global markets, positioning it to better support e-commerce businesses worldwide by addressing pain points like return optimization​.
The company continues to leverage its AI-driven tools to boost conversion rates and reduce return-to-origin (RTO) challenges, making it a key player in the growing e-commerce enablement space.

Tricog Health, a leader in telecardiology, continues to enhance its impact on cardiac care through cutting-edge AI-powered diagnostics and an innovative hub-and-spoke model for healthcare delivery. Recent updates highlight their focus on reducing diagnosis times and improving accessibility for critical cardiac conditions. Tricog’s ecosystem integrates AI-driven ECG machines and cloud-based platforms to connect primary care facilities with specialized cardiac centers, facilitating faster intervention during emergencies. This approach has significantly improved patient outcomes, with over 14 million ECGs analyzed and nearly half a million lives saved​.
Additionally, Tricog is working on the "Atom" device, aimed at making at-home cardiac diagnostics more accessible by integrating smartphone connectivity. The company’s strategic alliances, like the one with Omron Healthcare, reinforce its mission to address hypertension and related conditions alongside heart diseases​.
These developments position Tricog as a transformative player in cardiac care, bridging the technological divide and setting new standards in healthcare innovation.

CureSkin, a Bengaluru-based AI-driven dermatology platform, has been gaining attention for its innovative approach to skincare and haircare. The company recently raised $20 million in a Series B funding round led by HealthQuad, with participation from JSW Ventures and Khosla Ventures. This brings its total funding to $26 million. CureSkin plans to use this capital to enhance its AI capabilities, expand its offerings, and grow its reach, particularly in India's tier-2 and tier-3 cities, where 80% of its 1.5 million users reside​.
Founded in 2016 by Gunavardhan Kakulapati, Ramakrishna Rajanna, and Dr. Charu Sharma, CureSkin leverages AI to diagnose skin and hair conditions from user-uploaded images. The platform provides personalized treatment regimens, addressing common issues like acne, pigmentation, and hair loss. CureSkin was also a part of the prestigious Y Combinator Summer Batch in 2017, highlighting its global recognition in the tech-health domain​.
The recent funding will help CureSkin solidify its position in India's $2.7 billion skincare market by scaling its technology and distribution capabilities​.

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Lendingkart appoints former Paytm Payments Bank executive Mukund Barsagade as Group CFO. As a group CFO, Mukund will lead the finance, capital markets, legal, and secretarial functions, playing a pivotal role in shaping the company’s next growth phase.

Indian beauty and personal care brand Pilgrim has raised $20 million in Series B funding, led by Vertex Ventures Southeast Asia & India, with participation from Fireside Ventures and the Narotam Sekhsaria Family Office. The company aims to use the funds for brand building, research, and expanding its offline presence. Pilgrim is targeting a revenue milestone of ₹1,000 crore by 2025, up from its current ₹300 crore annual recurring revenue (ARR)​.
Additionally, Pilgrim has launched a new makeup line to tap into India's rapidly growing beauty market, which is projected to reach $30 billion by 2027. The brand, known for making global beauty ingredients accessible in India, aims for 30% revenue growth within the next 12 months​.

Slurrp Farm, the millet-based children’s food brand under Wholsum Foods, has secured ₹59.9 crore ($7.2 million) in a fresh funding round. The investment, led by Fireside Ventures, Raed Capital, Alkemi Ventures, and Sharrp Ventures, will fuel the company's ambitious expansion from 2,000 to 40,000 retail stores while strengthening its presence in the UAE, UK, and USA.

With a strong focus on sustainability and “zero junk” millet-based products, Slurrp Farm aims to reach ₹500 crore in revenue in the coming years, tapping into the rising demand for healthy, plant-based foods​.

Delhi-based electric commercial vehicle manufacturer Euler Motors has secured $20 million in debt funding from responsAbility Investments AG as part of a broader $500 million climate investment initiative. The fresh funds will be used to expand production capacity, enhance R&D, and strengthen distribution networks.

The investment follows Euler Motors' recent $24 million Series C funding round, which saw participation from British International Investment, Blume Ventures, and Piramal Alternatives India Access Fund. The company is focused on scaling its HiLoad electric three-wheeler—already operational in 15 Indian cities with over 7,000 units on the road—and expanding its four-wheeler Storm EV, tailored for logistics and e-commerce needs.

With climate-friendly transportation becoming a priority, Euler Motors aims to accelerate India's transition to sustainable mobility, particularly in Tier 1 and Tier 2 cities

Bengaluru-based agritech startup Vegrow has successfully raised $46 million in a Series C funding round, led by Singapore’s sovereign wealth fund GIC. This marks GIC’s first major investment in India’s agritech space, highlighting the sector’s growing appeal to global investors.

The funding round also saw participation from Prosus Ventures, Matrix Partners India, Elevation Capital, and Lightspeed Venture Partners. Vegrow plans to utilize the capital to expand its operations across India and strengthen its global presence. The company specializes in connecting fruit traders and buyers, offering services such as crop advisory, grading, packaging, logistics, and sales.

Founded in 2020 by IIT alumni Praneeth Kumar, Mrudhukar Batchu, Kiran Naik, and Shobhit Jain, Vegrow has significantly reduced perishable inventory wastage and operates with industry-leading profit margins. This latest funding follows its $25 million Series B round in July 2023, led by Prosus Ventures

Razorpay has announced that it will no longer support third-party payment orchestration platforms, including Juspay, effective April 30, 2025. This decision aligns with its strategy to offer direct payment gateway integrations to merchants, ensuring better innovation delivery, compliance, and risk management. The move is expected to impact Juspay significantly, as it previously earned a substantial portion of its revenue from orchestrating payments between different aggregators.
Razorpay's transition follows a similar move by PhonePe and Cashfree, which have also stopped relying on third-party routers, preferring direct partnerships with merchants. Juspay, in response, has clarified that it operates as a Technology Service Provider (TSP) rather than a payments intermediary and continues to provide value through software-based solutions for businesses​.

CityMall, a Gurgaon-based social commerce startup, is transforming retail in smaller Indian towns. The company, founded in 2019, recently raised $75 million in Series C funding, pushing its valuation to over $300 million. With 30,000+ community leaders, CityMall enables first-time e-commerce users in tier-2 to tier-5 cities to access a diverse range of products. The funds will be used to enhance its platform, expand supply chains, and introduce new categories, targeting 500 million untapped users in smaller cities​.

Dozee, a leading Indian healthtech startup specializing in remote patient monitoring (RPM), is scaling new heights with global ambitions and product innovations.
Global Expansion and Funding Success: The company recently raised $6 million in a Series A2 funding round, with contributions from notable investors like Prime Venture Partners, State Bank of India, and others. These funds will drive Dozee's expansion across India and internationally, strengthening its position as a pioneer in contactless vital signs monitoring. The technology is already deployed in over 380 hospitals in India​.
Launch of Dozee Shravan: Aimed at helping non-resident Indians (NRIs) monitor their elderly parents' health, Dozee introduced "Shravan," an AI-powered service offering continuous, contactless health monitoring. By tracking vitals such as heart rate and sleep patterns, the system enables timely interventions through real-time alerts and a user-friendly app. This innovation aligns with Dozee's mission to provide seamless healthcare solutions for families separated by distance​.
Technological Advancements: The company is also integrating AI-powered ECG monitoring into its offerings, enhancing its ability to detect early cardiac issues and streamlining data-sharing with healthcare professionals​.
Dozee's innovative approach is transforming healthcare accessibility, especially for critical care and elder care. These advancements reinforce its status as a "Made in India" success story on a global stage.

Credgenics, a leading SaaS-based debt resolution platform in India, continues to transform the loan recovery process with innovative tools and significant funding achievements. Recently, it launched the CG Collect app, enhancing loan recovery operations by integrating geo-tracking, real-time data logging, and seamless communication across multiple channels. This tool aims to simplify and expedite debt recovery for financial institutions​
The company also raised $25 million in a Series A funding round, bringing its valuation to $100 million. Credgenics collaborates with prominent private banks like ICICI Bank and Axis Bank, and over 40 NBFCs. Its efforts have reportedly improved debt resolution rates by 20% while reducing resolution time by an equivalent percentage​
Credgenics demonstrates its commitment to addressing India's rising non-performing assets through technology-driven solutions, maintaining a strong presence in the financial and legal tech ecosystem.

The future of Vista Voyage is filled with ambitious goals and aspirations. We envisions a focus on sustainability and responsible travel, promoting eco-friendly practices and supporting local communities to reduce the environmental impact.

Embracing technology to streamline booking processes and improve online experiences is a priority, as is partnering with travel bloggers and influencers to expand their reach.

We are happy to announce that Medaid is selected by AIC T-Hub among 20 startups to drive healthcare innovation in India