Startup news and updates: daily roundup (June 3, 2025)

From a climate tech startup tackling plastic waste to the queer women behind India’s first LGBTQ+ virtual safe space, from Thryve Digital Health’s CFO on driving healthcare impact via GCC to a startup building India’s ‘ChatGPT’ for livestock farmers, YourStory brings you today’s headlines with the latest developments across sectors.

Featured stories

How this climate tech startup is closing the loop on plastic waste

Victoria Joslin D’Souza grew up in Naganahalli, a village nestled along the banks of the Kabini River in Karnataka’s Mysuru district. In her early years, the village had no electricity, and she studied under the light of a Petromax lamp up to Class 12. 

The daughter of a farmer and a school teacher, D’Souza witnessed her father’s fight to restore power to their British-era colony, where, she says, “the power supply arrears were so high that they had disconnected the power” after Independence. Read more.

Meet the queer women behind India’s first LGBTQ+ virtual safe space

Deepali Lakhanpal and Aayushi Verma, who lived together in an apartment in Mumbai, shared more than just rent—they shared a vision. After countless conversations about the isolation that queer individuals often face in India, especially outside metro cities, the two decided to take action. 

What emerged from their lived experiences and shared frustration was First Contact—India’s first LGBTQ+ metaverse platform. As queer individuals themselves, Lakhanpal and Verma created the platform to fill a void they understood. Read more.

Thryve Digital Health CFO on delivering meaningful healthcare impact via GCC

The rapid expansion of the global capability centre (GCC) segment in India’s technology industry is also spurring growth for companies within industries like financial services, retail, and healthcare. One such entity reaping the benefits of the GCC boom is Thryve Digital, which is part of a US health insurance plan and hospital network with over 4,000 employees located in Chennai and Hyderabad. 

Since its establishment in 2016, Thryve Digital has been a core part of its parent company, instead of simply acting as a technology delivery centre. The GCC is deeply engaged in the development and modernisation of digital health applications, as this has a direct bearing on patient outcomes and affordability of healthcare. Read more.

This startup aims to be the ‘ChatGPT’ for India’s livestock farmers

Livestock rearing can be complicated, labour-intensive work on a good day. But what happens when you need urgent advice and no resources are readily available or accessible? 

Farmers in remote villages often lack access to timely expert advice about animal husbandry and cattle care in their own language, leaving urgent problems unresolved for too long. Bengaluru-based Pashushala.com aims to solve this by instantly connecting them with a platform that guides in local languages, helping millions across India get the support they need. Read more.

Latest news

Dutch investment firm Prosus's CIO Ervin Tu to step down

Dutch investment giant Prosus on Tuesday said its Group President and Chief Investment Officer, Ervin Tu, is stepping down from his current role. 

Tu, who joined the company in August 2021, was responsible for simplifying the Group’s structure and improving its overall financial performance. He also implemented the ongoing share repurchase programme, as well as enhancing the operations of the investment team. Read more.

Uber elevates Pradeep Parameswaran to Global Mobility Chief

Uber Technologies has elevated Pradeep Parameswaran to Global Head of Mobility, placing the seasoned executive at the helm of its core ride-hailing business across Asia Pacific, EMEA, and North America, according to his LinkedIn profile. 

The appointment makes Parameswaran the newest member of Uber’s executive leadership team. It marks a significant bet on international experience as the company undergoes a broader restructuring of its top ranks. Read more.

Simplilearn brings back Jitendra Kumar as CTO to lead AI integration

Blackstone-backed edtech firm Simplilearn has named Jitendra Kumar as its Chief Technology Officer (CTO), marking his return to the company after previously holding the role until September 2019. 

His return follows the departure of Kapil Suri, Senior Vice President of Technology, who is leaving to explore new opportunities. 

Kumar will lead Simplilearn’s AI-first approach, integrating a range of technologies—using generative and predictive AI to personalise learning experiences—and expand the company’s global reach. Read more. 

Lendingkart clocks Rs 143 Cr in H1 loss as loan defaults soar

Small business lender Lendingkart Technologies, the parent company of Lendingkart Finance, clocked a Rs 143 crore loss in the first half of FY25 from a Rs 3 crore profit for the entire previous year, as soaring loan defaults and collection challenges weighed on the fintech company's finances. 

The company posted Rs 533 crore in total income in the first six months of the FY24-25 compared to a total income of Rs 1,218 crore in the entire FY24, according to credit ratings agency ICRA. NBFC Lendingkart Finance—a wholly owned subsidiary of LTPL—posted a loss of Rs 90 crore due to elevated credit costs. Read more.

Funding news

Stable Money raises $20M in Series B led by Nilekani’s Fundamentum

Stable Money, a digital investment platform focused on fixed-income products, has raised $20 million in a Series B funding round led by Nandan Nilekani-backed Fundamentum Partnership. The round also saw participation from Aditya Birla Ventures and existing investors Z47, RTP Global, and Lightspeed.

The company plans to use the fresh capital to expand its product suite, deepen its partner bank and NBFC network, and scale its distribution, particularly in Tier II and Tier III towns. Read more.

Gully Labs secures Rs 8.7 Cr in seed funding

Gully Labs, an Indian sneaker brand, has raised Rs 8.7 crore in a seed funding round, including Rs 7.6 crore in equity and Rs 1.1 crore in venture debt.

The equity funding was led by Zeropearl VC, with participation from founders and angel investors such as Vivekananda Hallekere (Bounce), Suhasini Sampath (Yogabar), Nishchay AG (Jar), Ashutosh Valani (Renee Cosmetics), Anurag Ramadasan, and Rahul Seth.

Micro-funds Untitled Ventures and Atrium Ventures also took part in the round, while the debt investment was led by Stride Ventures.

The startup will use the funds to diversify the product range, expand sales channels, and establish physical retail stores.

Founded in 2023 by engineers Arjun Singh and Animesh Mishra, Gully Labs was established to incorporate Indian cultural elements into globally competitive products. It designs handcrafted footwear that blends modern aesthetics with Indian identity, drawing inspiration from elements such as Phulkari embroidery, regional traditions, and festivals.

ServeClub raises undisclosed seed funding

ServeClub, a pickleball gear brand, raised an undisclosed seed funding round led by Manish Poddar (Rare Rabbit), with participation from Pratham Mittal (Masters’ Union, Tetr) and Malika Sadani (The Moms Co.).

The investment will support ServeClub’s product development and help expand its presence across India through online and offline channels.

ServeClub was founded by entrepreneurs from the US, Cuba, Mexico, Germany, and India, all studying at Tetr College of Business. The company aims to address a gap in India’s growing pickleball market by providing access to affordable, premium gear.

ServeClub aims to grow by partnering with pickleball courts and clubs in India, hosting community events, and expanding direct sales through digital channels. The company has established over 25 partnerships.

Other news

Ekart goes live on the ONDC Network for ecommerce logistics

Ekart, a logistics and supply chain provider, has joined the ONDC Network, enhancing the ecommerce logistics infrastructure within the ONDC ecosystem.

The integration connects Ekart’s pan-India capabilities with ONDC participants, providing sellers and brands from MSMEs to large enterprises with seamless access to logistics services through the network.

This move aligns with the ONDC Network’s goal to quickly scale ecommerce logistics. Ekart’s broad delivery reach and technology-driven fulfilment provide the reliability and capacity needed for this growth phase.

Sellers and brands in sectors like D2C, FMCG, fashion, lifestyle, and BPC can now access Ekart’s logistics through the ONDC Network. Using a single interface, they can leverage Ekart’s nationwide operations to fulfil orders quickly and accurately across all serviceable areas.

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