Startup news and updates: Daily roundup (April 25, 2025)

From Medikabazaar's former CEO's side of the story to PB Fintech's latest health bet, YourStory brings you today’s top stories.

Featured stories

'Never had a chance to defend myself’: Medikabazaar's Vivek Tiwari speaks out on governance and whistleblower allegations

"This feels like a corporate coup.” That’s how Vivek Tiwari describes his dramatic fall from the top at Medikabazaar, the healthtech startup he co-founded and steered through the chaotic highs of the COVID-19 boom.

Medikabazaar has been engulfed in controversy. A whistleblower complaint triggered a forensic audit, allegedly revealing red flags—phantom inventory, fictitious transactions, and potential related-party dealings. PwC, the company’s auditor, resigned. Investors launched an internal cleanup.

In an exclusive interview with YourStory, Vivek Tiwari offers his first detailed account since his removal as the CEO. He opens up about the audit, whistleblower allegations, and the subsequent internal power struggles. Read more.

Top stories

PB Fintech invests Rs 539 Cr in healthcare vertical, dilutes ownership

PB Fintech, the parent company of Policybazaar, has invested Rs 539.4 crore in its healthcare subsidiary, PB Healthcare Services, marking the beginning of a larger Rs 1,461.6 crore seed funding round that includes external investors.

PB Fintech had earlier announced plans to invest Rs 696 crore in PB Healthcare Services, its dedicated healthcare arm, to accelerate growth in the sector. The move had been approved by the company's board in a meeting held in March 2025, according to a regulatory filing. Read more.

Funding news

Snacking startup phab bags $2M in seed fundraise

Nutritionist-led snacking brand phab raised $2 million in seed fundraise in a round led by OTP Ventures. The round also witnessed participation from Capri Global, Sim&San Law, and angel investors.

Launched in 2022 by Gayatri and Ankit Chona—the duo behind beloved brands like Hocco Ice Cream, Huber & Holly, and Hocco Eatery—the company plans to use funds for launching new products, capex investments, team building, and strengthening its online and offline presence.

The company offers a high-protein, better-for-you snacking portfolio that includes milkshakes, wafers and energy bars.

Finvolve and India Accelerator invest Rs 2.5 Cr in Paramount

AI-powered insuretech service provider Paramount Services has raised Rs 2.5 crore from Finvolve and India Accelerator.

Paramount, which offers AI-powered assessment of motor insurance claims, plans to use the funds to strengthen its proprietary software, enhance digital claims management capabilities, and expand its presence in India.

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