Startup news and updates: Daily roundup (June 17, 2025)
YourStory presents the daily news roundup from the Indian startup ecosystem and beyond. Here's the roundup for Tuesday, June 17, 2025.
From top mobility apps experimenting with their bike fleets to LeadSquared's IPO preparations, YourStory brings today’s headlines that highlight significant developments across industries.
Featured stories
We are working towards becoming IPO ready in the next 12-18 months: LeadSquared’s Prashant Singh
While some industry veterans warn of an “AI winter” threatening traditional SaaS models, Indian SaaS unicorn LeadSquared sees AI as a means to build sharper products and deliver more measurable outcomes.
In an exclusive conversation with YourStory, LeadSquared Co-founder Prashant Singh explains the firm’s evolution from a marketing platform to a CRM powerhouse, and why the company is placing its bets on purpose-built AI over hype.
Latest News
Ride-hailing apps halt bike taxis as Karnataka HC’s ban kicks in
Ride-hailing apps, including Rapido and Uber, have paused their bike taxi offerings as the Karnataka High Court’s bike taxi ban kicks in the state.
On Monday, Rapido and Uber had displayed the 'bike courier' option on their platforms, which has now been taken down.
The move to halt the bike taxi offering comes a day after Rapido issued a statement acknowledging the high court’s directives. It added that the company is “actively pursuing all avenues to support our captains.”
Funding News
Dugar Finance raises $3 million from Symbiotics Investments
MSME-focused NBFC, Dugar Finance & Investments Ltd has secured $3 million in debt funding from Swiss-based Symbiotics Investments to support rooftop solar financing and EV financing.
The funding has been sourced from a $75 million Green Basket Bond issued by Symbiotics and is backed by British International Investment (BII), UK’s development finance institution.
The funding will be used to expand Dugar Finance’s electric vehicle (EV) and rooftop solar financing offerings, particularly targeting residential customers, MSMEs, and housing societies in India’s tier-2 and tier-3 cities.
Saswat Finance raises $2.6 million in Pre-Series A round
Fintech platform Saswat Finance announced it has raised $2.6 million in a Pre-Series A funding round led by Ankur Capital, with participation from existing investor Incubate Fund Asia.
The funding will be used to scale Saswat’s data-led financial services across Maharashtra, Karnataka, and Uttar Pradesh, expand its product offerings, and strengthen its analytics infrastructure.
Founded in 2022, Mumbai-based Saswat focuses on rural credit and insurance enablement, initially targeting the dairy supply chain. The company has disbursed over Rs 55 crore in asset-backed loans and onboarded 6,000 customers to date.
Other News
Pocket Entertainment appoints Umesh Bude as CTO to lead AI-driven tech strategy
Pocket Entertainment, the parent company of Pocket FM, Pocket Toons, and Pocket Novel, has promoted Umesh Bude to Chief Technology Officer, the company said in press note.
Bude, who was earlier Senior Vice President of Engineering, will now lead the end-to-end technology strategy, reporting to Co-founder Prateek Dixit. In his new role, Bude will focus on expanding the company’s AI capabilities and enhancing user experiences across its platforms.
The appointment comes as Pocket Entertainment sharpens its focus on generative AI and tech-led storytelling.
Wellness platform Habuild hits 10 million users
Wellness startup Habuild said on Monday it has surpassed 10 million users, from just 1,000 users in 2022.
Founded by CEO Saurabh Bothra, the platform offers daily live yoga sessions, wellness challenges, and guided habit-building routines. Habuild’s courts users range from Tier I to Tier IV cities, and participants ranging in age from 3 to 91. The company claims 450,000 users take part in its daily yoga sessions.
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