Startup news and updates: Daily roundup (May 6, 2025)

YourStory presents the daily news roundup from the Indian startup ecosystem and beyond. Here's the roundup for Tuesday, May 06, 2025.

May 6, 2025 - 10:46

Startup news and updates: Daily roundup (May 6, 2025)

From Aether Energy's much awaited public debut, to Cashfree Payments next phase of growth YourStory brings you today’s top stories

Featured Stories

Wayfair growth mantra for India GCC: Focus on both new and experienced talent

US-headquartered Wayfair took only two years to turn its India GCC in Bengaluru into an important contributor to their operations. The online home decor and furniture retailer established its GCC in India in April 2023.

Wayfair’s India Technology Development Centre (TDC) plays a cross-functional role, contributing to nearly all aspects of the company’s global business rather than being limited to a specific domain. This has positioned the Bengaluru centre as a high-impact arm of Wayfair’s global operations.

Latest Stories

Ather IPO: IIT Madras bags 40X gains on EV-maker’s listing

EV-maker Ather Energy’s listing on the public bourses saw its shareholders who participated in the offer for sale (OFS) walk away with handsome gains. IIT Madras is one of the biggest gainers from Ather's public debut.

IIT Madras, through its incubation arms IITMS Rural Technology and Business Incubator and IITM Incubation Cell, saw a staggering 40X return by selling 4,191 equity shares. Internet Fund III, managed by Tiger Global, offloaded 400,000 shares and walked away with Rs 13.1 crore, marking an 8.5X return on its investment. Meanwhile, the National Investment and Infrastructure Fund (NIIF) earned a 78.5% return, taking home Rs 86.4 crore.

Tackling fake Aadhaar cards and cross border payments: Inside Cashfree’s next phase of growth

Bengaluru-based fintech giant Cashfree Payments is doubling down on AI-driven fraud prevention and cross-border solutions as part of its ambitious three-year plan to dominate India’s digital payments ecosystem. At the heart of this strategy is artificial intelligence—both a tool and a challenge.

Cashfree Co-founders Reeju Datta and Akash Sinha tell YourStory that their “moonshot” priorities include scaling Secure ID, a fraud-detection suite, and capturing cross-border payment flows—both seen as high-margin engines for the payments pioneer.

Nawgati bags $2.5M in pre-series A round

Fueltech platform Nawgati has raised $2.5 million in a funding round led by Ajay Upadhyaya, with participation from Deepak Bhagnani Family Office, MeitY Startup Hub, Aamara Capital.

The pre-series A round also witnessed participation from angels including Sanjay Sharma (former MD, Accenture), Ashish Sharma and Prithvijit Roy (founders, BRIDGEi2i), and Vivek Mathur (former Partner & COO, Elevation Capital).

The funds will support Nawgati’s international and domestic expansion plans. The company is also expanding its fleet solutions, currently deployed with Mahanagar Gas, to other major fuel companies.

Nawgati is a fuel and mobility tech company that offers a platform called Aaveg, which connects fuel stations, fleet operators, and consumers to improve fuel network efficiency.

Troovy raises Rs 20 Cr in a round led by Fireside Ventures

Nutrition brand Troovy has raised Rs 20 crore in its pre-series A funding round led by Fireside Ventures, along with participation from Sharrp Ventures, Spring Marketing Capital, and Veltis Capital.

"While developing our nutrition thesis, we identified children's nutrition as a significant whitespace in the market. Unlike adults, who have access to various food formats to meet their daily nutritional needs, mothers often seek simple, everyday food options to support their children's health," says Ankita Balotia, Vice President at Fireside Ventures.

Founded by Aditya Mukherjee and Mansi Baranwal, the product range offers healthy snacks, including high-protein chips and puffs, protein instant pasta, protein vermicelli, immunity-boosting sauces and spreads, and multi-millet protein milk mixes.

Other News

CaptainBiz launches Bill2Pay for MSMEs

Fintech-SaaS platform CaptainBiz has launched Bill2Pay, a new feature designed to simplify payment collections and cash flow tracking for small businesses.

The feature integrates invoice generation with secure digital payment links, enabling MSMEs to collect payments and reconcile them in real time through a single, streamlined system.

The feature is currently available to CaptainBiz web users and will be launched on mobile apps soon.

(The copy will be updated)

Edited by Affirunisa Kankudti