Startup news and updates: Daily roundup (March 11, 2025)

From QubeHealth simplifying medical expenses to Uber partnering with Refex Green Mobility to deploy 1,000 EVs by 2026, YourStory brings you today’s headlines with the latest developments across sectors.

Featured stories

How QubeHealth is making medical expenses more manageable

How much are you paying for health insurance premiums? A lot in recent years. In fact, many costs, including diagnostics and consultations, remain uncovered for those availing themselves of employer-provided health insurance; not to mention the extra hospital expenses one pays out of their pocket. 

According to the Acko India Health Insurance Index 2024, healthcare costs in India are rising at an annual rate of 14%, with 62% of hospital expenses paid out of pocket and 23% covered through borrowings. 

Further, increased demand for advanced treatments and a higher incidence of chronic diseases among Indians have shot up medical inflation and insurance premiums in the country. Read more.

Latest news

Uber ties up with Refex Green Mobility to deploy 1,000 EVs by 2026

Ride-hailing app has tied up with Refex Green Mobility to deploy 1,000 electric vehicles (EVs) across key cities by 2026, furthering its efforts to boost EVs on its platform. 

The collaboration aligns with Uber’s global objective of providing 100% emission-free rides by 2040, the company said in a statement. 

The deployment will see electric four-wheelers onboarded onto the Uber platform across Chennai, Hyderabad, Bengaluru, and Mumbai, it added. Read more.

Even Healthcare launches ESOP buyback amid talent retention push

Even Healthcare has announced a $500,000 buyback, within three years of launching its employee stock ownership plan (ESOP).  

According to a statement, the Bengaluru company will conduct the buyback programme at its primary valuation without any discount. Even Healthcare also said it has not reduced the valuation for the buyback, unlike the common practice of ESOP 'haircuts' in the market.

Eliminating the discount even ensures that employees receive the full value of their equity maximising their financial gains, it added. Read more.

Education finance startup Kuhoo Finance gets NBFC licence

Kuhoo Finance, a fintech platform specialising in student loans, has received regulatory approval from the Reserve Bank of India (RBI) to operate as a non-banking financial company (NBFC).

The licence is set to significantly expand Kuhoo's lending capacity, enabling the firm to offer education loans of up to Rs 2 crore across various academic disciplines. Read more.

Funding news

goSTOPS raises Rs 35 Cr in Series A funding round led by Blume Ventures

Backpacker hostel brand goSTOPS has raised Rs 35 crore ($4.2 million) in its Series A funding round led by Blume Ventures, with continued support from co-lead investor 1Crowd. 

Other existing investors, including Mumbai Angels, Chennai Angels, Indian Angel Network, Lead Angels, and Yuj Ventures, also participated in the round. 

goSTOPS earlier raised approximately $3 million across several small angel investment rounds between 2019 and 2024. Read more.

Felicity Games raises $3M in seed funding round led by 3one4 Capital

Felicity Games, a global mobile game publisher, has raised $3 million (Rs 25.8 crore) in a seed funding round led by 3one4 Capital.

The funding round saw participation from international investors such as T-Accelerate Capital (Singapore) and MIXI Global Investments (Tokyo), as well as follow-up investments from existing backers DeVC and Visceral Capital.

Felicity Games plans to use the funding to expand its publishing infrastructure and strengthen partnerships with Indian game studios. It aims to scale its existing titles and test additional games by the end of 2025.

Founded in 2023 by Anurag Choudhary, Felicity Games focuses on scalable global game publishing, leveraging India’s growing game development sector. It specialises in hybrid-casual games.

Ambitio secures $2M in seed funding round led by BLinC Invest

AI-powered admissions startup, Ambitio, has secured $2 million in a seed funding round led by BLinC Invest, with participation from Ritu Bapna (Co-founder, Impetus), along with a few soonicorn founders and angel investors from the UK and India.

The company plans to invest in technology to provide students with the best possible experience and scale its distribution channels.

Founded in 2022 by Dirghayu Kaushik and Vikrant Shivalik, Ambitio is an AI-based global admissions platform. It combines intelligence from past applicants with insights from alumni experts to offer students a personalised admissions experience.

Dreamtime Learning bags undisclosed funding from Nikhil Kamath-led Gruhas

Education company Dreamtime Learning has bagged an undisclosed amount of pre-series A funding from Nikhil Kamath and Abhijeet Pai’s Gruhas.

The funding will be used to expand Dreamtime Learning’s micro-school model in metro cities and support the growth of its global online school in over 40 countries. It will also be allocated to improving operational efficiency and enhancing student learning experiences. 

Additionally, the company plans to expand its presence in the B2B education sector through its “Powered by Dreamtime” initiative.

Founded by Lina Ashar, Dreamtime Learning integrates technology, neuroscience, and innovative pedagogy to create a modern education ecosystem. It offers online learning, tech-driven micro-schools, community-based after-school programmes, and B2B preschool solutions.

“Education needs to evolve with the world—learning today should be dynamic, relevant, and build real-world skills…The future belongs to those who can learn, unlearn, and relearn at speed,” said Kamath, investor and entrepreneur.

Other news

foundit appoints Raghavendra Kulkarni as chief strategy officer

Jobs platform foundit (formerly known as Monster APAC & ME), has appointed Raghavendra Kulkarni as its chief strategy officer. 

In his new role, Kulkarni will lead key strategic initiatives, working closely with the leadership and cross-functional teams to enhance operational excellence and accelerate business growth.

A seasoned finance and strategy leader, Kulkarni brings over 18 years of global experience. He has worked with firms such as Microsoft, AWS, and Info Edge, specialising in strategic planning, business finance, analytics, pricing, and monetisation.

PhonePe crosses 600M registered users

PhonePe has crossed 600 million registered users on its platform, marking a significant milestone for the company, which will celebrate its 10-year anniversary this year.

“Reaching 60 crore registered users is a proud moment for all of us at PhonePe. Every milestone we achieve brings us a step closer to realising our vision of building a truly inclusive financial ecosystem,” noted Sameer Nigam, Co-founder & CEO, PhonePe.

PhonePe has over 40 million merchants (as of March 2025). It claims to process 330 million daily transactions with an annualised TPV (total payment value) exceeding Rs 150 lakh crore. It also operates in financial services and consumer tech, including Pincode (a local commerce app) and Indus AppStore (an Android marketplace).

Change Engine accelerator to invest $5M in early-stage AI startups

Change Engine, a startup accelerator and ecosystem builder based in Gurgaon, plans to invest over $5 million over the next five years in early-stage AI startups from India. 

The initiative is focused on nurturing 6 high-potential AI startups annually, driving innovation in machine learning stack technologies and business applications that serve global markets.

Previous cohorts of Change Engine have reached notable milestones—Sonic Lamb appeared on Shark Tank Season 4 and secured Rs 50 lakh in funding, while CallPrep was included in Nikhil Kamath’s WTFund list. 

A key aspect of the Change Engine accelerator is its customer advisory board, which includes industry leaders from organisations such as Amazon, Google, McKinsey, and Adobe. This board helps startups by providing industry insights, validating ideas, and refining go-to-market strategies.

IIM Kashipur FIED grants Rs 5 Cr funding to 23 startups

IIM Kashipur, through the Foundation for Innovation and Entrepreneurship Development (FIED), supported by the Startup India Seed Fund Scheme (SISFS) under the Department of Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, has allocated Rs 5 crore in funding to 23 startups across various sectors. 

This initiative aims to foster entrepreneurship, innovation, and technological advancements, providing a significant boost to emerging businesses.

Several startups received funding across various sectors. IKAYU Foodlabs, Vigorus HealthTech, Upnetra Care, and Studiovity secured Rs 50 lakh each for food processing, healthcare IT, healthcare, and collaboration platforms, respectively. Witness The Fitness and D Square Ventures received Rs 30 lakh for health & wellness and AI, while Silverhook Innovations obtained Rs 25 lakh for edtech. 

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