Startup news and updates: Daily roundup (January 23, 2025)

From exclusive highlights from key stakeholders in the clear mobility space to budget expectations from investor community, Yourstory brings today’s headlines that highlight latest developments across sectors.

Here’s a roundup of the key stories today.

Featured news

[YS Exclusive] EV maker Simple Energy lays roadmap for rapid store expansion, deliveries

With growing consumer traction towards electric vehicles (EVs), EV makers are making the most out of the opportunity to keep up with the demand and stay ahead of fierce market competition. 

Bengaluru-based Simple Energy, has completed around 1,900 deliveries and plans to open 150 stores and 200 service centres by the end of 2025. 

Suhas Rajkumar, Co-founder and CEO of Simple Energy, told YourStory that the EV maker is doubling down on its scooter portfolio, unlike its peers Ola Electric and Ather Energy. 

In an exclusive interview with YourStory, Rajkumar revealed Simple Energy’s plans to introduce new products, and its roadmap to disrupt the existing market hierarchy in the electric two-wheeler segment. 

Investors expect tax relief, parity, and clarity on regulations from Budget 2025

The Indian investor community is betting big on clarity in regulations to start deploying the dry powder they have amassed over the last year.

The discussions around the introduction of the Income Tax bill during the Budget session is expected to address the list of demands presented by the Indian venture capital (VC) and private equity (PE) ecosystem. 

These include reduction in the duplication and number of regulations, which currently apply to the industry, reducing scope of litigation, and encouraging the general ease of doing business.

For now, we’re riding the growth wave of quick commerce: Yulu CEO Amit Gupta

Low-Speed Electric Vehicles (LSEVs) player Yulu, has gained attention in recent years for its electric bikes, which serve primarily for short-distance and intra-city use.

With growing popularity of quick commerce, Yulu looks to enter new cities and realign its product offerings. Going forward, the company is doubling down on the growth in the last-mile delivery segment with a new product crafted for ecommerce deliveries.

In an interaction with YourStory, Amit Gupta, Co-founder and CEO, Yulu, details out the company’s new product offerings, focus areas, and how Yulu is planning to take advantage of the growing demands of the delivery sector.

Funding news

SVASTEK raises Rs 2 crore in seed round

Medtech startup SVASTEK has bagged Rs 2 crore in seed funding round from the IAN Angel fund to drive the launch of its flagship product, ALLTIP-enabled NIV mask.

The mask represents a significant advancement in non-invasive ventilation (NIV) technology by enabling continuous respiratory support while allowing simultaneous nutrition delivery.

The New Delhi-based firm plans to expand its product portfolio and geographical presence.

Cancrie bags $1.2 million in seed fundraise

Energy storage startup Cancrie has raised $1.2 million in its maiden institutional seed round to scale production and R&D efforts.

Cancrie plans to capital infusion for expanding its production, acclerating its R&D developments and establish strategic partnerships.

"We have seen the founders' journey from day zero, and their attempt to optimize energy storage through an innovative nanocarbon technology is crucial in the advancement of the battery tech value chain. The team's strong technical expertise, early market validation, and chemistry-agnostic material approach brings significant market potential," noted Vipul Patel, Partner Seed Investing, IIMA Ventures.

Dream Aerospace raises Rs 3 Cr in pre-seed round

Aerospace and defence startup Dream Aerospace has raised Rs 3 crore in its pre-seed funding round led by Inflection Point Ventures (IPV).

The startup will use the new capital to develop its ATOM thruster, validate its propulsion system, and establish an in-house high-altitude test facility.

Founded in 2022 by Hari Krishnan KJ and Rogith S, Dream Aerospace plans to set up an in-house production facility with an annual capacity of 40–50 thrusters.

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Other news

Curefoods' Olio Pizza expands to new outlets under Reliance SMART partnership.

Olio Pizza, one of the brands under Curefoods, will launch six new outlets across Mumbai, Pune, and Rajkot in partnership with Reliance SMART.

Olio Pizza continues to grow 25% quarter-on-quarter and has already achieved Rs 100 crore ARR within 15 months, the company said in a statement.

"As we expand to 500 locations by 2026, we remain committed to delivering exceptional dining experiences while nurturing new brands and scaling our existing portfolio. With each milestone, we are moving closer to building a Rs 500 crore brand that redefines the pizza segment in India," said Ankit Nagori, Founder of Curefoods.

Inspira Enterprise appoints Rajesh Ananthakrishnan as President

Cybersecurity organisation Inspira Enterprise on Thursday said it appointed Rajesh Ananthakrishnan as the president and head of managed security services.

Ananthakrishnan, who will be based in Chennai, will be responsible for accelerating growth and strengthening Inspira's managed security services portfolio.

Prior to this, Ananthakrishnan was a former General Manager at HCLTech and led key areas like security operations, incident response, threat and vulnerability management, and security assurance. Earlier in his career, he worked with Wipro and Hewlett-Packard.

(This article will be updated with the latest news throughout the day.)