Startup news and updates: Daily roundup (March 17, 2025)

From Amazon spinning off its India division to Ola Electric shares plunging to a 52-week low amid an insolvency petition, YourStory brings you today’s headlines with the latest developments across sectors.

Featured stories

Amazon in early talks to spin off India division

Ecommerce company Amazon is looking to spin off its India entity and list it in the country, according to two people with direct knowledge of the matter told YourStory.

The company has begun deliberations with investment banks in India, the people said, requesting anonymity as the discussions are private.

Amazon has invited investment bankers from the country while it discussed the plan with JP Morgan, its banker on Wall Street, the people added. Read more.

‘Agent is the atomic unit for AI’: Snowflake’s Baris Gultekin

Snowflake, an American AI data-cloud firm, recently launched Cortex Agents—AI tools designed to efficiently retrieve and orchestrate both structured and unstructured data for business insights. Since 2012, the San Mateo, California-based firm has been reshaping data management with its cloud-based data warehousing platform, enabling organisations to store, manage, and analyse large volumes of data.

In an interview with YourStory, Baris Gultekin, Head of AI at Snowflake, detailed how the company’s latest AI offerings are enhancing business intelligence for enterprises, with strategic partnerships with Anthropic and DeepSeek driving its Cortex Agents, and how the firm is bullish on India as a key AI market. Read more.

Latest news

Entrust Family Office to expand into new cities and verticals

Multi-family office Entrust Family Office is eyeing expansion into new cities and verticals as the country sees a boom in high-net-worth individuals (HNIs).

The Bengaluru-based family office will expand its operations in key financial hubs, including Mumbai, Delhi, Pune, and Coimbatore. Entrust said with Bengaluru contributing the most, it expects to see upcoming growth in Mumbai and Delhi.

Additionally, the firm plans to expand into new verticals, including alternate asset classes, international investment facilitation, and extending standalone support services to single-family offices. Read more.

Swiggy Instamart expands to 100 cities as demand grows in Tier II and III markets

Swiggy Instamart has expanded its offerings to 100 cities as the quick commerce platform sees rising demand from Tier II and III markets.

Over the last month, the company has expanded to cities including Raipur, Siliguri, Jodhpur, and Thanjavur. According to Amitesh Jha, CEO of Swiggy Instamart, the platform sees one in four new users coming from Tier II and III markets. Read more. 

Ola Electric shares plunge to 52-week low amid insolvency petition

EV company Ola Electric’s shares fell by about 6% on Monday following a petition filed by Rosmerta Digital Services under Section 9 of the Insolvency and Bankruptcy Code against its EV-making unit.

Ola Electric's shares hit a 52-week low of Rs 47.59 apiece as of 10:14 AM today.

On Saturday, the Bhavish Aggarwal-led company informed stock exchanges that one of its operational creditors, Rosmerta Digital Services, has filed a petition before the National Company Law Tribunal Bengaluru Bench alleging default in payments towards services rendered. Read more.

Salesforce, Ather Energy partner to streamline dealership operations

Salesforce on Monday partnered with IPO-bound electric two-wheeler maker Ather Energy to launch the automotive dealer management system—a new platform to enhance dealership operations and customer experience across India.

Ather Energy, which operates over 350 dealerships, has developed 'Ather Dealer Central,' a dealer management system (DMS) built on the Salesforce platform that integrates lead management, customer relationship management, and dealership functions. Read more. 

Funding news

MGX invests $2B in first-ever institutional investment in Binance

Global crypto exchange Binance on Monday said Abu Dhabi-based artificial intelligence and advanced technology investor, MGX, has made a $2 billion investment in the company.

The investment, which was paid in stablecoins, marks the first-ever institutional investment into Binance to date. According to the company, it also marks the largest investment into a crypto company and the largest investment to be paid in crypto. Read more.

Chai Kings secures $3M in Series A funding from A.V. Thomas and Co.

Chai Kings, a Chennai-based chai retail chain, raised $3 million (Rs 24 crore) in Series A from A.V. Thomas and Co. (AVT), a packaged tea player. The tea brand plans to use the capital infusion to accelerate expansion, improve product offerings, strengthen the supply chain, enhance customer engagement, and improve operational efficiencies. Read more.

International Finance Corporation proposes investment into A91 Partners’ third fund

The International Finance Corporation (IFC) is deliberating an investment into the venture capital firm A91 Partners’ third fund, according to a disclosure on the firm’s website.

IFC, which is part of the World Bank Group, is a United Nations agency that invests in private sector growth in developing countries. The institution is proposing an equity investment of up to $35 million and an additional co-investment of up to $30 million into the new fund. Read more.

Other news

D2L appoints Vivek Iyer as Managing Director for India

Learning technology company D2L on Monday said it appointed Vivek Iyer as Managing Director for India. Iyer has prior experience in the education technology and SaaS sectors and has led sales and marketing teams across global markets.

As MD, he will focus on the company’s expansion plans in India and deepen relationships with educational institutions, among others.

“We are excited to welcome Vivek to D2L. His extensive leadership experience will be invaluable as we continue to strengthen our presence in India and support institutions on their digital transformation journeys. With Vivek on board, we are confident in our ability to accelerate growth and deliver exceptional value to our partners and customers,” said Stewart Watts, Senior Vice President, EMEA and APAC at D2L.

Turno and ThunderPlus partner up to deploy ultra-fast charging hubs

EV charging infrastructure startup ThunderPlus partnered up with electric mobility solutions provider Turno to deploy 1 MW charging facilities along key highways in India.

These charging hubs, stretching across Hyderabad to Vizag, are expected to address range anxiety and accelerate EV adoption in the country.

“While these charging stations are primarily designed for electric bus operations, they will also function as semi-public charging hubs. This partnership eliminates charging anxiety and paves the way for faster EV adoption across India," said Rajeev YSR, CEO of ThunderPlus.

Infibeam Avenues, IISc signs MoU to combat AI-related threats

Fintech firm Infibeam Avenues signed a memorandum of understanding (MoU) with the Indian Institute of Sciences (IISc) for the research and development of real-time deepfake detection systems, designed to improve digital security for government entities, corporations, and organisations.

“Digital communications and a digital India will thrive only as long as there is trust,” said Rajesh Kumar SA, CEO of Phronetic.AI, an AI unit of Infibeam Avenues Ltd. “This partnership is a pivotal step in restoring trust in digital communications. Together, we will equip users with the necessary tools to differentiate between truth and fabrication in an increasingly complex digital landscape, thereby mitigating fraud risks and enhancing digital trust.”

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Conneqt, Umwelt.AI partner to deploy AI-powered employee experience platform

Digital IT and BPM services firm collaborated with Umwelt.AI and has deployed Nikki, an AI-driven employee experience platform.

The platform will enable Conneqt to craft personalised experiences that will help professional growth, well-being, and long-term employee satisfaction.

“By integrating AI technology with human understanding, this partnership with Umwelt.AI is a step forward in creating an employee-first culture. It allows us to enhance productivity and flourish the success for both our teams and the organization.,” said Ruchi Ahluwalia, Group CPO.

Piramal Finance partners with Punjab & Sind Bank to boost lending in semi-urban and rural areas

NBFC firm Piramal Capital and Housing Finance Ltd partnered with public sector bank Punjab & Sind Bank to improve credit availability for middle and low-income borrowers.

The partnership will focus on borrowers in rural and semi-urban regions and will offer competitive interest rates and customised credit solutions, particularly in Tier II and III cities.

“We are pleased to partner with Punjab & Sind Bank, our fourth collaboration with a major financial institution, to expand access to credit in underserved markets. Partnerships are key to scaling impact in a vast and diverse country like India, allowing us to serve deeper markets and reach more customers,” said Jairam Sridharan, Managing Director, Piramal Finance Ltd.

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