February 25, 2025: India has developed a strong startup ecosystem, with players in this space playing a significant role in driving the country's overall economy. Understanding this, let's take a look at some of the current highlights in the startup world.
Dodo Payments Raised USD 1.1 Million in a Pre-Seed Round
Fintech startup Dodo Payments raised USD 1.1 million in a pre-seed round led by Antler, 9Unicorns, and Venture Catalysts. Nitin Gupta (Uni Cards and PayU), Maninder Gulati (former Oyo CSO/Lightspeed), Raymond Russell (former Chief of Staff at Boom Supersonic), Preethi Kasireddy (former Partner, a16z), and Nishant Verman (former Flipkart CorpDev head) have all taken part.
Nykaa allots 90.5K shares under the ESOP Scheme
Nykaa, a beauty and personal care marketplace, has allotted 90,500 equity shares under its Employee Stock Option (ESOP) Scheme. The allotted ESOPs total Rs 1.49 crore, based on the company's NSE opening price of Rs 165 per share on Monday.
Recykal, backed by Morgan Stanley, experiences a decrease in scale in FY24, with losses increasing by 31%.
While Recykal, a B2B waste management marketplace, experienced 4X year-on-year growth in FY23, the company was unable to maintain the same momentum in FY24, with gross revenue falling by nearly 5%. Furthermore, the company's losses increased 31% during the same period. Recykal's gross revenue decreased by 4.4% to Rs 712 crore in FY24 from Rs 745 crore in FY23, according to its consolidated financial statements obtained from the Registrar of Companies.
Make in Box Secures USD 260,000 in Pre-Series Funding Round
Make in Box (MIB), a deep-tech startup, raised $260,000 in a pre-Series funding round led by Mile Deep Works and its affiliate Mile Deep Capital. The new funds will be used to improve decentralized supply chains and develop mobile smart factory technologies, including MIB's flagship product, "Mfreezer," according to a press release.
Technodysis Secures Rs 10 Crore of Debt from Recur Club
Technodysis, a Bengaluru-based IT startup, has raised Rs 10 crore in debt funding from Recur Club, a debt marketplace for startups and SMEs. This funding is intricately structured, combining secured and unsecured debt and covering the fiscal years 2023 and 2024. Technodysis stated in a press release that the proceeds will be used to improve its ability to scale operations, develop product offerings, and strengthen its presence in key international markets.
