Could the next unicorn be a team of one?; Making fertility treatments smarter

While it sounds unreal, a new-age coder with a rack of GPUs and co-pilots could, in theory, spin up a product, ship globally, and sprint to $100 million ARR before a traditional SaaS giant can even finish its next headcount planning cycle.

Jun 23, 2025 - 03:50

Could the next unicorn be a team of one?; Making fertility treatments smarter

Hello,

The rare earth magnet crisis has Indian industry in a chokehold.

Industry body ELCINA has estimated that over 21,000 jobs are at risk in India’s audio electronics segment due to restrictions imposed by China on the export of rare earth metals. It warned that device makers are switching to import fully assembled speaker modules from China.

Some startups are scrambling to find rare-earth-free motor alternatives for EVs and electronic components.

ICYMI: The rare earth magnet supply crunch, explained.

The government has sensed an opportunity here. India is preparing to launch a PLI scheme worth between Rs 3,500 crore and Rs 5,000 crore to promote the domestic manufacturing of rare earth minerals and derived magnets. The scheme is expected to be notified within 15 days.

Elsewhere, the impact of the Iran-Israel conflict has started to hit business, with Punjab the most affected. The crisis has severely hit the import and export of dry fruit, rice, chemicals, blankets, wooden chess sets, and other articles from the state.

Experts warn that rising tensions could severely impact India’s trade with West Asia, disrupt oil shipments via the Strait of Hormuz, and push up prices.

Time to hunker down and weather the storm.

In today’s newsletter, we will talk about

In search of the next AI unicorn
Making fertility treatments smarter

Here’s your trivia for today: Shankar Mahadevan teamed up with which famous Indian lyricist for the album “Breathless”?

Artificial Intelligence

In search of the next AI unicorn

AI-native startups are posting eye-popping annual recurring revenue, ranging anywhere from $10 million to well over $100 million. While it sounds unreal, a new-age coder with a rack of GPUs and co-pilots could, in theory, spin up a product, ship globally, and sprint to $100 million ARR before a traditional SaaS giant can even finish its next headcount planning cycle.

“High ARR per employee shows focus, but moats today lie in proprietary data, vertical depth, and fast iteration. India, with its talent and cost advantage, is well-placed to lead this wave. The next iconic AI company could easily come from a 10-person team in Bengaluru,” says Jaspreet Bindra, CEO of AI&Beyond.

Doing more with less:

According to Cornerstone Ventures’ Managing Partner Abhishek Prasad, a shift to smaller teams is primarily visible in the US, where a handful of foundational model startups have reshaped the AI sector. “It’s a lot like what happened with Big Tech,” says Prasad.
AI-native business models are also rewriting metrics. Cursor, the AI code editor built by just 20 engineers, soared to $100 million ARR in under a year and, by 2024, was reportedly near $300 million.
“Small teams are now doing in months what used to take years. Firms can achieve a lot today with just a handful of people. But it's also important to recognise survivorship bias,” says Poorvi Vijay, Vice President, Elevation Capital.

Women’s Health

Making fertility treatments smarter

Although IVF offers hope to millions facing infertility, the process is complex, expensive, and outdated.

Ramnath Babu TJ and Santosh Bhargav DB saw the pain point and founded SpOvum Technologies, a deeptech startup building a combination of hardware-software technologies in the field of Assistive Reproductive Technologies.

Reach and impact:

SpOvum offers a suite of AI-integrated, automated-driven solutions to improve outcomes and accessibility in IVF care.
The startup operates on a B2B model, where clinics purchase its hardware and subscribe to its AI-enabled software modules. Beyond the technology itself, it provides comprehensive training and ongoing support.
“In the next 18 months, we aim to expand our presence to over 100 clinics across India... We’re also working on rolling out AI-powered decision-support tools to further democratise access and help clinics achieve better outcomes,” Babu says.

SpOvum Technologies, a deeptech startup builds a combination of hardware-software technologies in the field of Assistive Reproductive Technologies (ART).

News & updates

End of era: Fred Smith, the FedEx Corp founder who revolutionised the express delivery industry, has died, the company said. He was 80. FedEx started operating in 1973, delivering small parcels and documents more quickly than the post office could.
Much-awaited: Austin, Texas, is set to be the first city worldwide to see Tesla’s self-driving robotaxi service on its roads. Elon Musk, CEO of the electric carmaker, has said he is “tentatively” planning to roll out a small number of these autonomous vehicles on the streets of the US city.
Precaution: British Airways and Singapore Airlines cancelled flights to the Persian Gulf, increasing aviation disruptions in the region after the US struck three nuclear sites in Iran, and Tehran vowed to retaliate. Air India has also announced changes to its flight paths in light of the rising tensions in the Gulf region.

What you should watch out for

IPO shakedown: Top private sector lender HDFC Bank’s subsidiary HDB Financial Services will launch its much anticipated Rs 12,500 crore IPO—India’s biggest ever by an NBFC—between June 25-27, with the anchor portion reserved for June 24, according to an exchange filing by HDB Financial. The IPO comprises a fresh issue of Rs 2,500 crore and an offer for sale of Rs 10,000 crore by parent HDFC Bank, which holds a 94.3% stake.
Sensex rejig: Sensex will see one of the biggest stock rejigs, with defence PSU giant Bharat Electronics (BEL) and Tata Group-backed Trent joining the main benchmark of BSE, replacing giants like Nestle India and IndusInd Bank. BEL and Trent are expected to record more than $700 million in inflows.

Shankar Mahadevan teamed up with which famous Indian lyricist for the album “Breathless”?

Answer: Javed Akhtar.

We would love to hear from you! To let us know what you liked and disliked about our newsletter, please mail nslfeedback@yourstory.com.

If you don’t already get this newsletter in your inbox, sign up here. For past editions of the YourStory Buzz, you can check our Daily Capsule page here.