Startup news and updates: Daily roundup (February 28, 2025)

YourStory presents the daily news roundup from the Indian startup ecosystem and beyond. Here's the roundup for Friday, February 28, 2025.

Friday February 28, 2025 , 4 min Read

From startups making waves in the textile industry to Amazon’s quantum computing chip, YourStory brings you the latest updates from the Indian startup ecosystem.

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Whizzo harnesses material science to weave innovative textiles

The Indian textile industry is the country’s second-largest employment provider after agriculture, offering direct employment to over 35 million people.

As companies diversify away from China and Bangladesh, India has a unique opportunity to strengthen its foothold in textiles. This is supported by a strong MSME ecosystem and government initiatives like the Production-Linked Incentive (PLI) schemes, which encourage innovation and expansion in the sector.

Founded in 2024, by former Zetwerk executive Shrestha Kukreja, Whizzo is a materials science manufacturing company that specialises in engineered and technical textiles.

The Indian startup ecosystem has evolved significantly over the years, changing the way the country looks at entrepreneurship. At the helm of this evolution are founders who are spearheading this change.

These founders, located across various cities and towns in India, have the potential to understand local challenges and leverage technology to solve these issues. Investors, on the other hand, are on the lookout for these founders, now that India has put the funding winter behind.

India is also at the intersection where semi-retired business leaders are dedicating their time to mentor and nurture emerging entrepreneurs, bringing in wisdom and helping them build new companies, according to Sanjay Nayar of Sorin Investments. Nayar is the President of Associated Chambers of Commerce and Industry of India, an industry apex body.

Nayar spoke to YourStory about how the Indian government is fostering innovation and how the changing startup landscape signals a new age of founders and companies.

Elegant, multicultural, and bustling, London melds the old and the new. The modern capital of the United Kingdom is among the oldest of the world’s great cities, with a history that spans almost two millennia.

London’s history goes back to 6,000 BC, when early hunter-gatherers settled in the area near the Thames River, as evidenced by the presence of Bronze Age bridges and Iron Age forts. Ancient Romans founded a port and trading settlement, called Londinium, around 47 AD, four years after they invaded the region. Over centuries, the stolid city has held its ground through innumerable attacks, invasions, disasters, and rebuilds.

The interesting thing about the city is that there’s always a surprise around every corner. Especially when you want to venture beyond the normal! A guide of alternative things to do in London helps escape the typical attractions and offers new ways to look at a city that’s essentially a tourist trap.

Paisabazaar CEO Naveen Kukreja steps down, Santosh Agarwal promoted

Naveen Kukreja has stepped down as CEO of Paisabazaar after 11 years at the helm. Santosh Agarwal, who is currently the chief business officer of life insurance at Policybazaar, will take over as CEO starting March 1, 2025.

PB Fintech Ltd, the parent company of Policybazaar and Paisabazaar, announced these leadership changes in a regulatory filing.

“Ms Santosh Agarwal would be taking over as Chief Executive Officer and a Key Managerial Personnel of Paisabazaar to drive the business,” the company said.

Amazon introduces Ocelot, its first quantum computing chip

Amazon Web Services (AWS) has introduced its first quantum computing chip–called Ocelot–which claims to reduce the costs of implementing quantum error correction by up to 90% compared to current approaches.

Quantum error correction is the process of identifying and fixing mistakes in quantum computations.

The new chip, which is developed by the AWS Center for Quantum Computing at the California Institute of Technology, is part of the company’s broader push to build quantum computers that can solve scientific problems better than conventional computers.

ThunderPlus launches high speed EV charging station

EV charging solutions provider Thunderplus has launched its first fast-charging station at National Mineral Development Corporation (NMDC).

In collaboration with ThunderPlus, NMDC launched the first EV charging station at its corporate office premises in Hyderabad, the company said.

The charging station features fast-charging technology, offering seamless and efficient charging for EV users.

“This charging station is a step forward in our collective mission to reduce carbon emissions and promote green energy solutions. In fact, we have developed solutions, which can generate power based on methanol and ethanol instantaneously up to 400kwh which can be further used to charge electric cars, trucks and other vehicles,” said Rajeev YSR, CEO, Thunder Plus and Group CMO, ETO Motors.

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

Edited by Swetha Kannan

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