Startup news and updates: Daily roundup (January 31, 2025)

From Apple Inc’s results to Nazara Technologies' gaming subsidiary acquiring Ukraine-based esports organiser StartLadder, YourStory brings today’s headlines highlighting the latest developments across sectors.

Latest news

Tim Cook is ‘particularly keen’ on India as Apple sets December quarter record in the country

Apple CEO Tim Cook said he is “particularly keen on India” where the company set a revenue record for the December quarter, even as global iPhone sales saw a slight decline.

The iPhone maker’s growth in India contrasts with the 11.1% year-on-year decline in net sales in China—its third-largest market by sales—in the December quarter.

Cook, who referred to China as “the most competitive market in the world,” noted that over half of the decline that Apple experienced there was driven by a change in channel inventory from the beginning to the end of the quarter.

NODWIN gaming acquires StarLadder in $5.5M deal to bolster esports portfolio

NODWIN Gaming, a subsidiary of Indian gaming giant Nazara Technologies, has acquired Ukraine-based esports organiser StarLadder in a deal valued at $5.5 million (Rs 46.75 crore).

As part of the agreement, NODWIN will pay $2 million in cash and issue $3.5 million worth of equity shares in its parent entity, NODWIN Gaming, based in Singapore. The acquisition adds StarLadder’s portfolio of high-profile esports events, including Valve’s Counter-Strike and Dota 2 Majors, to NODWIN’s growing intellectual property (IP) library.

Ola Electric retakes E2W market lead in January following store expansion

Bhavish Aggarwal-led Ola Electric recaptured its lead in the electric two-wheelers market in January after the company doubled down on expanding its store footprint last month.

The EV maker sold 22,656 units in January, according to Vahan data, capturing a 25% market share amidst rising competition from legacy brands including Bajaj Auto and TVS Motors.

At Ola Electric’s Gen 3 launch event on Friday, Aggarwal said, “We have expanded our network. And over the next few months, we will continue to see the benefit of that. Because while we open 4,000 stores, it takes a few months for each store to stabilise. So the stores opened at the end of December. And now slowly, the stores are stabilising.”

Funding news

ElevenLabs raises $180M in Series C round co-led by a16z, ICONIQ Growth

Voice AI startup ElevenLabs has raised $180 million in a Series C funding round co-led by a16z and ICONIQ Growth, with participation from new investors NEA, World Innovation Lab (WiL), Valor, Endeavor Catalyst Fund, and Lunate.

The US-based firm is expanding its footprint in India by investing in AI talent and development; it counts India as one of the fastest-growing AI hubs for consumer and business applications.