Startup news and updates: Daily roundup (August 26, 2025)
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Focus is on building a strong brand identity: River Mobility’s Aravind Mani
Bengaluru-based River Mobility is charting a steady path in India’s crowded EV space, prioritising brand identity and fundamentals over aggressive market share.
Founded in 2021 by Aravind Mani and Vipin George, the company’s first scooter, Indie, has seen sales double this year, supported by a rapid retail expansion from three to 28 stores across 20 cities. Backed by Yamaha, River has sold over 10,000 units since launch and is targeting 30,000 sales this year, with plans to scale to 80 outlets by March 2026.
While River currently produces 2,000 vehicles a month, it aims for full capacity by 2026–27. Profitability is expected at 15,000–20,000 monthly sales, with fundraising continuing as the company builds for scale. Read more.
How upskilling platform NPrep is empowering the nursing sector
Jodhpur-based NPrep is redefining nursing education with its AI-enabled personalised learning platform, aimed at training aspiring nurses and boosting their confidence.
Founded in 2022 by doctors Prince Kaushik, Utkarsh Paliwal, and Gourav Khurana, the startup was inspired by Marrow, a popular medical edtech tool. Starting with 500 hours of video lectures, NPrep has since evolved into an immersive platform that integrates 3D graphics, simulations, and real-life medical videos.
Backed by a $500,000 seed round led by All In Capital, the company has 40,000 students on board, with 26,000 active learners and a target of 2.5 lakh by year-end. Its app has crossed 56,000 downloads. Read more.
Latest news
Women’s workforce participation sees significant surge
India has seen a remarkable surge in women’s workforce participation, with rates nearly doubling from 22% in 2017-18 to 40.3% in 2023-24, according to the Periodic Labour Force Survey (PLFS).
The rise has been led by rural India, where female employment jumped 96%, compared to 43% in urban areas. Unemployment among women also dropped sharply, from 5.6% to 3.2% during the same period. Employability indicators show steady gains, with female graduates’ employability rising to 47.5% in 2024 and postgraduates’ worker population ratio reaching 40%. Read more.
Paytm parent to pump Rs 455 Cr in subsidiaries
One 97 Communications, the parent of Paytm, will invest up to Rs 455 crore in two of its wholly-owned subsidiaries Paytm Money and Paytm Services.
The company’s board has cleared subscriptions to rights issues of up to Rs 300 crore in Paytm Money and Rs 155 crore in Paytm Services. It has also approved the transfer of equity shares as part of the group’s internal restructuring plan.
These developments come on the heels of the company’s gaming affiliate First Games shutting real-money operations following the government’s new online gaming law. Paytm Money offers investment and wealth management services, while Paytm Services is in the business of manpower supply and related services. Read more.
Japanese news companies sue Perplexity AI in Tokyo over copyright claims
Japanese news outlets Nikkei and the Asahi Shimbun have taken legal action against Perplexity AI, accusing the US-based AI search startup of copyright infringement, Bloomberg reported.
The two newspapers filed their case in the Tokyo District Court, seeking an injunction and damages of ¥2.2 billion (about $15 million) each. In a joint statement, they argued that Perplexity had misused their content without permission.
The lawsuit highlights the growing conflict between traditional publishers and AI companies over the use of news content. Media outlets contend that AI platforms repurpose their work without licenses, diverting readers and advertising revenue at a time when the industry is already under pressure.
Funding news
Peeko raises $3.2M led by Stellaris Venture Partners
Baby care-focused quick commerce platform Peeko raised $3.2 million in a seed funding round led by Stellaris Venture Partners, as the startup aims to become the go-to destination for young parents navigating the chaotic baby products market.
Founded earlier this year by IIT alumni Chetan Sharma (ex-Leap), Vivek Khetan (ex-OYO), and Abhijit Gairola (ex-Leap), Peeko is positioning itself as a quick commerce brand promising delivery in under 60 minutes, a try-and-buy model, and instant returns—features that founders say address the frustrations of catalogue fatigue, unreliable quality, and slow fulfilment that parents often face.
Other backers in the round include Maninder Gulati (former OYO), Kunal Bahl and Rohit Bansal (Titan Capital), Abhishek Goyal (Tracxn), Nitin Gupta (Uni), and Arjun Vaidya (V3 Ventures), the company said on Tuesday. Read more.
Cumin Co. raises $1.5M
Kitchenware startup Cumin Co. has secured $1.5 million in a funding round led by Fireside Ventures, with participation from Huddle Ventures.
Founded in 2025, the company has already reached over 7,000 households with its toxin-free, patented cookware and reports profitability with 20% month-on-month growth in repeat purchases.
The new capital will support R&D, manufacturing, and new product launches, including 80 SKUs planned by year-end. Fireside Ventures called Cumin Co. well-positioned to modernise the stagnant kitchenware category.
Vaave Raises Rs 6.6 Cr in first external round
Vaave, an alumni engagement platform, has raised Rs 6.6 crore in its first significant external funding round led by Aditya Vuchi of VCMint and Raj Narayanam of Zaggle via RAN Ventures.
Founded over a decade ago, Vaave partners with more than 1,200 institutions across 28 countries and powers 35 corporate alumni platforms, including Tata Steel and Deloitte.
Hexafun Secures Rs 4.5 Cr seed funding
Hexafun, a lifestyle accessories brand focused on sustainability, has raised Rs 4.5 crore in seed funding from Prajay Advisors, with advisory support from capitalCORN.
Founded in 2021, the company designs everyday essentials such as socks, stoles, and luggage covers using 100% sustainable materials. The fresh capital will fund retail expansion, marketing, and new product lines.
Other news
Capgemini to acquire Cloud4C, expanding hybrid cloud services
French IT major Capgemini has signed an agreement to acquire Cloud4C, a managed services provider specialising in hybrid and sovereign cloud environments. Cloud4C, founded in 2014, has a 1,600-strong team and operations in 29 countries.
Its AI-ready, hyper-automated platforms support enterprises in cloud migration, compliance, and disaster recovery. Capgemini said the deal will strengthen its leadership in cloud managed services and accelerate SAP cloud management capabilities.
Euler Motors expands into passenger EVs
Euler Motors has forayed into the commercial passenger EV space with the launch of ‘NEO by Euler’, a dedicated brand for electric three-wheelers. The first offering, NEO HiRANGE, is priced at Rs 3.09 lakh and designed for daily urban commutes of 120-200 km.
The vehicle promises a real-world range of over 200 km on its top variant, a 3.25-hour charge time, and features such as hill assist, real-time diagnostics, and GPS tracking. Euler plans to roll out NEO vehicles across 50 cities in the coming months, aiming to serve first-time EV buyers, ride-hailing drivers, and fleet operators.
Gameskraft halts cash games
Gameskraft has ceased all gameplay and deposit services across its rummy platforms in response to India’s newly passed Promotion and Regulation of Online Gaming Act, 2025, which bans all real-money gaming.
Withdrawal services remain operational, with the company assuring users that account balances are safe. Unlike some peers, Gameskraft said it will not challenge the law in court.
Instead, it will focus on “responsible innovation, player protection, and regulatory alignment,” while exploring new opportunities. The company emphasised transparency and compliance, confirming that all dues have been cleared and stakeholders safeguarded. “Compliance has always been non-negotiable for us,” the statement read.
WinZO launches global short drama championship
Interactive entertainment platform WinZO has launched the WinZO Short Drama Championship, the world’s first global competition for microdrama creators.
The initiative offers winners full production sponsorships, distribution deals, and partnerships to produce original content for WinZO TV, its new storytelling platform. The contest builds on WinZO’s 250 million user base across India, Brazil, and the US, giving participants global visibility.
Dhruv Dhanraj Bahl’s Eternal Capital rebrands as Sadev Ventures
Early-stage VC fund Eternal Capital, founded by former BharatPe COO Dhruv Dhanraj Bahl, has rebranded to Sadev Ventures, aligning with the name of Bahl’s family office.
With a corpus of Rs 120 crore and an additional Rs 120 crore greenshoe option, the fund has already invested in 20 ventures, including Asaya, Cookd, and Hypergro.
Bahl said the change is a “natural evolution” that signals a shift from being “capital-only” to creating generational institutions. The fund will continue backing post-product-market-fit startups with operator-led expertise.
i-exceed expands digital banking solutions in India
i-exceed, a global fintech company headquartered in Princeton, New Jersey, is expanding its presence in India through its low-code digital banking platform, Appzillon.
The platform supports over 80 million users worldwide and partners with leading Indian institutions, including India Post Payments Bank and Canara Bank. Appzillon’s omnichannel, microservices-driven architecture allows banks to overcome legacy challenges while enabling faster product launches and unified customer experiences.
Beyond Tier I banks, i-exceed also serves regional and microfinance institutions to support financial inclusion. Its India teams play a central role in product development and innovation, helping banks deliver scalable and regulatory-compliant digital services.
(The copy will be updated with the latest news throughout the day.)
Edited by Kanishk Singh
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