Startup news and updates: daily roundup (February 26, 2025)

From Elevation Capital leading an $18 million funding round in MOC Cancer Care & Research Centre to a Belgian pharmacist empowering rural women in Trichy, YourStory brings you today’s headlines with the latest developments across sectors.

Featured stories

From service to social enterprise: How a Belgian pharmacist is empowering rural women in Trichy

Belgian pharmacist David Vandevoort never expected his life to take root thousands of miles away in the vibrant temple city of Trichy in India. What started as a mission to serve evolved into an entrepreneurial journey that embraces everything local and natural. 

Prema Nature, his brainchild, is not just an incense brand—it’s a social enterprise dedicated to empower rural women. 

Vandevoort’s journey to India was driven by a desire to “serve”. After completing his pharmacy studies, he spent four months in India and three months in Nepal, where he was moved by the joy and resilience of children who had little material wealth.  

“They would work all day and sleep outdoors and I would be sleeping in a room. It felt strange, but it also gave me insight into their resolve and strength,” says Vandevoort. Read more.

Latest news

Micromax makes foray into renewable energy space

Home-grown consumer electronics brand Micromax Informatics on Wednesday announced its foray into renewable energy segment with the launch of Startup Energy. 

This new venture aims to revolutionise solar panel manufacturing in India, driving the widespread adoption of sustainable energy and supporting the country’s ambitious clean energy mission, a company statement said. 

As the world accelerates its transition to clean energy, Startup Energy is poised to play a pivotal role in India’s renewable energy revolution, it added. Read more.

Zepto strengthens footprint with over 20 dark stores operational in TN

Quick commerce company Zepto has strengthened its presence beyond Chennai in Tamil Nadu and is now serving several districts including Coimbatore, Tiruchirappalli, Madurai, Vellore and Salem, the company said. 

In Tamil Nadu, over 100 farmers provide tender coconuts and green vegetables from Palacode and Pollachi to serve various customers including users of the Zepto platform.

With 20 plus dark stores now operational in Tamil Nadu, each store is strategically positioned to optimise delivery routes within a 2-3 km radius, allowing delivery partners to maintain a safe and efficient speed of 15-20 km per hour while upholding Zepto's 10-minute delivery promise, a company statement said. Read more.

Funding news

Elevation Capital leads $18M round in MOC Cancer Care

MOC Cancer Care & Research Centre, a chain of cancer daycare centres, has raised $18 million in funding led by Elevation Capital.

MOC had raised $10 million from Tata Capital Healthcare Fund in 2023 to expand its operations and technological capabilities. 

MOC, a unit of Cellcure Cancer Centre Pvt Ltd., was founded by Ashish Joshi, Vashishth Maniar, Pritam Kalaskar, and Kshitij Joshi in 2018. It operates in 24 centres in Mumbai, Pune, the Rest of Maharashtra, Ahmedabad, Indore, and Chhattisgarh. Read more.

Quick Clean raises $6M funding in maiden round

Quick Clean, which provides professional linen management solutions, has raised Rs 50 crore ($5.7 million) in its maiden round.  

The round was led by Alkemi Growth Capital and Blue Ashva Capital, and saw an additional investment of Rs 10 crore ($1.15 million) credit line from Venture Debt Cos., the company said in a statement. 

Quick Clean plans to use the raised capital to expand its footprint into healthcare and hospitality and reinforce its position as a leader in the $36 billion Indian commercial laundry industry, it added. Read more.

Vidyut bags $2.5M from Flourish Ventures

Vidyut, a full-stack electric vehicle (EV) ecosystem platform, has bagged $2.5 million in funding from global fintech investor Flourish Ventures. 

The funding will fuel expansion of Vidyut’s battery-as-a-service offerings in both passenger and commercial EV segments.

Founded in 2021 by former Swiggy and Bounce executives Xitij Kothi and Gaurav Srivastava, Vidyut has focused on commercial EV financing by separating batteries from EVs and offering them on a pay-per-km subscription model. This approach is said to reduce upfront 3W EV costs by 35-40%, making them more affordable than ICE vehicles from day one. Read more.

HiWiPay raises $2M in seed round led by Unicorn India Ventures

HiWiPay, a cross-border payments platform, has raised $2 million in a seed round led by Unicorn India Ventures. The round also saw participation from Dewang Neralla's family office, Jupiter Metaverse LLP, and angel investors Dr Ritesh Malik, Mitesh Shah, and Nilesh Doshi.

Founded by Dewang Neralla, along with Geeta Chauhan and Ujwal Tamminedi, HiWiPay plans to use the funds to expand its trade remittance business and scale operations in the education remittances sector.

HiWiPay plans to expand beyond student payments by entering the SME trade remittance space. It also aims to launch co-branded forex cards and other financial services for students.

HiWiPay has built a portal for exporters to collect payments with required documentation and plans to launch a similar solution for importers, aiming to streamline SME trade remittances globally.

Triple Tap Games secures $1.2M pre-seed funding

Triple Tap Games, a gaming studio, has raised $1.2 million in a pre-seed funding round led by Eximius Ventures and Kalaari Capital, with support from angel investors in entertainment and gaming.

The funding will support Triple Tap’s goal of creating innovative mobile games in the ‘relax and unwind’ category for a global audience. The company plans to use the investment to launch and scale its games in the US and Europe.

Led by Karan Khairajani, a seasoned founder with a track record of scaling studios, the team leverages innovative design and AI-driven development to create engaging casual games. After being acquired by Crazy Labs in 2021, the team is now focused on developing hybrid casual games.

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