Startup news and updates: Daily roundup (June 24, 2025)

From HR tech unicorn Darwinbox completing a Rs 86 crore ESOP buyback to omnichannel beauty retailer Nykaa allotting 5.23 lakh equity shares to employees under its ESOP scheme, YourStory brings today’s headlines that highlight significant developments across industries.

Here’s a roundup of key stories:

Featured news

This startup is reimagining financial access for India’s blue-collar workforce

In a country where millions of low-income workers silently power the economy, their financial and healthcare needs are often overlooked by traditional systems. Access to a personal loan, an insurance plan, and even government health schemes sometimes remain a distant dream. 

It is here that a Mumbai-headquartered fintech startup wants to rewrite the rules by creating packages that meet their needs. Entitled Solutions, founded by Anshul Khurana, Arpan Jain, Krishna Yadav in 2020, is an inclusion platform that aims to make health and financial services accessible to urban low-income workers. By connecting employers, financiers, and healthcare service providers, the company has built an ecosystem where the low-income or blue-collar workers are not an afterthought, but the focal point.

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Latest news

SaaS unicorn Darwinbox completes Rs 86 Cr ESOP buyback

HR tech unicorn Darwinbox on Tuesday said it has completed a Rs 86 crore Employee Stock Ownership Plan (ESOP) buyback, benefiting over 350 employees across its 11 offices in India, North America, Southeast Asia, and the Middle East. This is the company’s third buyback in four years, it said in a statement. 

“At Darwinbox, we’ve always believed that those who help build value should share in it. Even as we invest deeply in innovation and global growth, we remain equally committed to creating meaningful outcomes for our people. This buyback, like the ones before, reflects our belief in sharing success with our people and building a culture of ownership,” said Jayant Paleti, Co-founder, Darwinbox.

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Nykaa allots shares worth Rs 10.33 Cr

Omnichannel beauty and personal care retailer Nykaa has allotted 5.23 lakh equity shares to employees as part of its Employee Stock Option Scheme (ESOP), the company said in a stock exchange filing on Monday. 

Based on Nykaa’s opening share price of Rs 197.3 on the National Stock Exchange (NSE) on Monday, the total value of the latest ESOP allotment comes to around Rs 10.33 crore. The newly issued shares will rank equally with the existing shares in all respects, the company said.

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Google brings advanced AI Mode search experience to India

Google Search has changed how people access information online through AI tools such as AI Overviews. Expanding on this, the company is now bringing its more advanced AI Mode search experience to users in India. 

This new mode provides enhanced reasoning capabilities, can interpret different types of input, and allows users to pose more complex queries. It also supports in-depth exploration of topics through follow-up questions and relevant web links. 

The tech giant introduced AI Mode as an experiment in the US earlier this year, and began expanding its availability beyond Labs during Google I/O 2025. In India, users can access the feature in English by enabling it through Search Labs, a Google programme that lets users try out experimental tools and share feedback on early versions of Google Search experiences.

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Funding news

GoKwik secures $13M in round led by RTP Global

Ecommerce enablement platform GoKwik on Tuesday said it has raised $13 million in a round led by its existing investor, RTP Global. The round also witnessed participation from existing investors Z47, Peak XV Partners and Think Investments. 

The capital infusion will be used to support its international expansion and fast-track development of its AI-first commerce stack. Founded in 2020 by Chirag Taneja, Vivek Bajpai, and Ankush Talwar, GoKwik has now raised$68 million in total equity funding. 

The company offers a suite of services to D2C and ecommerce brands, including RTO protection enabled—KwikCheckout, KwikEngage, KwikPass, and Return Prime. It had acquired Shopify-based returns management app, Return Prime, in September last year for an undisclosed amount.

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Fabheads raises $10M in Series A led by Accel

Fabheads, a deeptech startup focused on automating composite materials manufacturing, has raised $10 million in a Series A funding round led by Accel, with additional participation from Trifecta Capital. This brings the total capital raised by the company to $13 million, including its earlier seed and pre-seed rounds. 

The new capital will be used to expand manufacturing capacity, grow the leadership team, and strengthen client-facing engineering and R&D functions, the company said in a statement. 

Founded in 2015 by former ISRO engineers Dhinesh Kanagaraj and Abhijeet Rathore, Fabheads has developed proprietary automation systems for the complex and largely manual process of manufacturing with carbon fiber and other advanced composites.

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Skilling platform Kruu raises bridge funding 

Kruu, a Chennai-based project-based learning and skilling platform, has raised Rs 1 crore in a bridge round of investment. This brings its total pre-seed funding to $1.25 million. The company said it has become revenue-positive in its second year of operations.

Founded in late 2022 by musician and educator Anil Srinivasan, Kruu connects middle and high school students with university professors and industry experts for real-world projects. The platform currently has over 470,000 students, including more than 130,000 paying users, across India, Sri Lanka, Maldives, and is expanding into the UAE, Malaysia, and Latin America.

Fantail secures $1.6M in seed funding

Fantail, a Surat-based B2B textile manufacturing startup focused on man-made fibres (MMF), has raised $1.6 million in a seed round led by Riverwalk Holdings, Incubate Fund Asia, and All in Capital. The firm plans to use the funds to build capabilities, processes, and talent to enhance its design and manufacturing operations in Surat.

“In B2B, timing is of great significance. I have personally worked with the Surat ecosystem for a decade, and I think in the coming few years, we will see a lot of action in manufacturing 2.0 here. If we solve for the operational hurdles in scale and keep a strong focus on capital efficiency, we can truly harness the power of this ecosystem,” said Ramya Iyer, Founder of Fantail. 

Founded in 2023 by entrepreneur Ramya Iyer, Fantail works closely with weavers, mills, processors, and value-addition units to develop textile products for enterprise fashion retail. The company’s supply chain is integrated from the yarn stage to final garment production, aiming to improve efficiency and provide growth opportunities for SMEs. 

Skippi bags Rs 12 Cr in extended pre-Series A round

Ice pops brand Skippi has raised Rs 12 crore in an extended pre-Series A round. The round was led by Dubai-based strategic family offices of Mr. Surya, contributing Rs 10 crore, with the remaining Rs 2 crore from other angel investors. 

The fresh capital will be utilised to boost brand visibility, strengthen working capital, drive product innovation, and expand into the Middle East. The company’s products are currently available in over 20,000 retail outlets across India and on platforms like Zepto, Swiggy Instamart, Cred, Amazon, Bigbasket, and its own website. It has also expanded its portfolio to include Crazy Corn, Cornsticks, and Cream Rolls.

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