Startup news and updates: Daily roundup (May 9, 2025)

YourStory presents the daily news roundup from the Indian startup ecosystem and beyond. Here's the roundup for Friday, May 9, 2025.

May 9, 2025 - 13:03

Startup news and updates: Daily roundup (May 9, 2025)

From a healthcare startup offering needle-free injections to the government doubling loan guarantee cap under the startup credit scheme, YourStory brings you today’s top stories from the Indian startup ecosystem.

Latest news

Government doubles loan guarantee cap under startup credit scheme

In a move to bolster India’s innovation-driven economy, the Department for Promotion of Industry and Internal Trade (DPIIT) under the Ministry of Commerce and Industry has expanded the Credit Guarantee Scheme for Startups (CGSS), significantly enhancing credit access for fledgling enterprises.

The revised scheme doubles the guarantee cover limit from Rs 10 crore to Rs 20 crore per borrower. It also increases the extent of guarantee coverage to 85% for loan amounts up to Rs 10 crore and 75% for loans exceeding Rs 10 crore. Previously, the guarantee coverage was capped at 75% of the default amount across the board.

Further sweetening the deal for startups in key industries, the Annual Guarantee Fee (AGF) has been slashed by half from 2% to 1% for startups operating in 27 identified Champion Sectors.

Vanguard pegs Ola’s valuation between $1.4-1.5B

US-based asset management firm, Vanguard, has pegged Ola’s parent entity ANI Technologies' valuation between $1.4 billion and $1.5 billion, it said in a recent regulatory filing.

Vanguard, which purchased shares of the company in 2015 for $5.96 million, currently sees the market value of these shares at $8.72 million. During the reporting period of between September 1, 2023, and August 31, 2024, the market value of Vanguard’s holdings in Ola's parent firm was $14.9 million.

The asset management firm is a small shareholder in the company, holding less than 1% stake.

Funding news

Infibeam Avenues to raise Rs 700 Cr

Infibeam Avenues has approved plans to raise up to Rs 700 crore (about $82 million) through a rights issue of equity shares, the company said in a filing to Indian stock exchanges on Friday.

The company will conduct the fundraising by offering new shares to existing shareholders on a rights basis, with the final terms, such as pricing and entitlement ratio, to be determined by a newly constituted Rights Issue Committee.

Meanwhile, the company's board has adopted amendments to its Code of Conduct for Prevention of Insider Trading and related policies.

Other news

Udemy launches Innovation Studio

AI-powered reskilling platform Udemy launched Udemy Innovation Studio to fast-track the development and deployment of new AI capabilities across its two-sided platform, connecting learners with a global community of expert content creators.

Its first release, AI for Business Leaders, is a next-generation reskilling programme designed to help executives understand and apply AI in real-world business contexts, the company added. The Studio is also developing AI-powered roleplay simulations and a VR public speaking tool, for scenario-based practice and immersive communication training.

Johnson & Johnson Medtech partners with Qure.ai

Surgical technologies and solutions company Johnson & Johnson MedTech has onboarded AI healthcare company Qure.ai as a strategic partner with Johnson & Johnson Private Limited, a Johnson & Johnson company, to enhance the early detection of lung cancer in India.

It aims to establish AI-led Incidental Pulmonary Nodule (IPN) Detection clinics across leading hospitals in India. These clinics are set to act as integrated screening hubs, optimizing early detection, triaging, and follow-up care for lung cancer patients, it added.

Remlife Global partners with JiyaYu Lifesciences

Remlife Global PTE LTD, the Singapore-based subsidiary of BSE-listed Remedium Lifecare Ltd, has entered into a strategic partnership with green chemistry technology platform company JiyaYu Lifesciences.

As part of the partnership, JiyaYu is set to license out fully developed and scalable technologies—designed to replace traditional animal-derived steps with sustainable, cost-effective, and regulatory- compliant bioprocesses—to Remlife Global on an exclusive basis.

Additionally, JiyaYu Lifesciences has partnered with a UK-based R&D technology platform specialising in the development of fermentation and biocatalyst-based alternatives to animal-origin pharmaceutical inputs, the release read.

(The copy will be updated with the latest news throughout the day)

Edited by Kanishk Singh