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

From Lowe's tapping India for its global capability centres to drive AI innovation to a startup using AI for neurodevelopmental care of children with autism, ADHD, or speech delays, YourStory brings you all the top stories from the Indian entrepreneurial landscape.

Featured stories

India’s role is central to our billion-dollar R&D plan: Toast CEO Aman Narang

When Aman Narang began Toast in 2011, he and his partners had no intention of shaking up the $160 billion restaurant payments market. The founders had a simple goal—to let diners pay through their phones. However, after 12 years and a $30-billion IPO, Toast has a lot more on its menu. 

Today, its platform powers everything from kitchens to convenience stores, as it strives towards becoming the backbone of in-person commerce.

Initially launched as a consumer-facing restaurant app, the Boston-based firm pivoted from simply processing customer payments to providing comprehensive restaurant point-of-sale (POS) solutions. Toast exemplifies vertical SaaS, embedding payments, lending, payroll, and more. With $1.5 billion in annual recurring revenue (ARR), the Boston-based firm derives 80% of its income from fintech offerings alone.

In an interview with YourStory, Narang shares how AI is disrupting the vertical SaaS industry.

How Lowe’s India GCC is driving AI innovation for global impact

Lowe’s, the US-headquartered home improvement retailer with over 1,700 stores, has been leveraging technology to help customers make informed decisions with purchases, while also assisting its employees to deliver this service.

In today’s evolving retail landscape, where shopping is not just about buying at a store but also buying things online, the role of technology has become more important than ever. In this environment, Lowe’s Global Capability Centre (GCC) in Bengaluru, India, is playing a key role in delivering this omnichannel experience for both customers and employees.

In an interaction with Enterprise Story, Seemantini Godbole, Chief Data and Information Officer at Lowe’s, described the Bengaluru GCC as a powerful capability centre, which is at the forefront of all things technology.

How Gabify is using AI for speech and neurodevelopmental care

In India, nearly 15% of the population faces some form of communication disorder, with one in eight children affected by neurodevelopmental conditions such as autism, ADHD, or speech delays. A study conducted in rural areas of Ballari district in Karnataka found a prevalence rate of 4.29% among school-going children aged 6-16 years, according to the Directory of Open Access Journal.

Despite the scale of this public health concern, the country’s infrastructure for early detection and therapy remains limited, with only one qualified speech therapist available for every 10,000 people.

“Long wait times, high costs, and a lack of awareness have further compounded the problem, often delaying intervention beyond the critical early years of a child’s development,” Sahil Chopra, Co-founder and CEO, tells YourStory.

Trans women run the show at this new Chennai boutique

​In March 2025, Chennai trans activist Swetha Sudhakar inaugurated the Born2Win Trans Boutique in Saidapet, the city's first clothing store entirely managed by transgender women. This initiative, spearheaded by the Born2Win Welfare Trust under the leadership of Sudhakar, aims to provide employment opportunities and financial independence to members of the transgender community.

The NGO's tailoring programme and boutique were set up with funding support from Altimetrik and Solarwinds India, enabling the employment of five transgender women and offering them a chance to start their own businesses.

Prior to the boutique's launch, Born2Win conducted six months of tailoring training for community members, equipping them with the necessary skills for the venture. Sudhakar emphasised that this initiative is designed to help the transgender community achieve their dreams in their chosen fields and to instil confidence among its members.

Latest news

Medikabazaar faces Rs 279 Cr indemnity claim as investors allege financial misstatements

Series C investors in Medikabazaar have filed a Rs 279 crore indemnity claim against the company, following allegations of fraudulent financial reporting tied to earlier funding rounds at the business-to-business platform for medical equipment and consumables.

Documents reviewed by The CapTable and corroborated in the company's FY23 consolidated financial filings showed that the indemnity claim, formally valued at Rs 278.7 crore, has been disclosed as a contingent liability. Under its new management, the company stated it has obtained legal advice and intends to contest the claim.

The demand comes in the wake of a whistleblower complaint submitted in December 2023 that triggered a forensic investigation into the company’s books and governance practices.

Read more here

Suspicious cross-border UPI payments trigger forensic audit at Karnataka Bank

Karnataka Bank has appointed external forensic auditors to review suspicious cross-border UPI (Unified Payments Interface) transactions.

The forensic auditing firm, Pipara & Co. LLP, Chartered Accountants, based in Ahmedabad, has been tasked with investigating the matter. This issue, reported in February 2025, involved the reversal of cross-border UPI transaction amounts, which led to an estimated impact of Rs. 18.87 crore.

In response to the findings, the Reserve Bank of India was informed about the matter. The bank assured that the issue would not affect day-to-day operations or customer services.

Read more here.

Funding news

Good Monk raises $2M in pre-Series A round led by RPSG Capital Ventures

Good Monk, the flagship brand of Superfoods Valley, a Bengaluru-based startup, raised $2 million in a pre-Series A funding round led by RPSG Capital Ventures, and saw participation from existing investors Multiply Ventures, Sharrp Ventures, and ThinKuvate.

Founded by Amarpreet Singh Anand and Sahiba Kaur, Good Monk launched a nutrition mix aimed at consolidating the right nutrients into a family's daily food without altering the taste or smell of food.

“At Good Monk, we believe that nutrition should be easy, effective, and clean. Our mission is to empower Indian families to take control of their health without compromising on taste or convenience,” said Amarpreet Singh Anand.

"The partnership with RPSG Venture Capital will facilitate investing in R&D and product development to present better nutritional alternatives," said Kaur.

Sexual wellness brand That Sassy Thing raises Rs 6 Cr led by IPV

That Sassy Thing, a sexual wellness brand for women, has raised Rs 6 crore in a seed round led by IPV (Inflection Point Ventures) and entrepreneurs and investors including Bala Sarda (Vahdam Teas), Saurabh Munjal (Lahori Zeera), and Kirti Jangra (Animall Technologies).

That Sassy Thing aims to disrupt the sexual wellness market with a women-first, stigma-free and fun approach. Their range of products—full body massagers, aloe-based lubricants, and intimate washes—combine safety, discretion, and thoughtful design.

“Sexual wellness needs a rebrand. For too long, women have been ignored or objectified in this space. We’re changing that narrative by focusing on women’s needs—vaginal wellness, PCOS, menopause—and giving them stigma-free access to products and education. With this fundraise, we’re doubling down on brand, team, and category-defining solutions,” said Sachee Malhotra, Co-founder, That Sassy Thing.

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