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Startup news and updates: Daily roundup (April 28, 2025)
YourStory presents the daily news roundup from the Indian startup ecosystem and beyond. Here's the roundup for Monday, April 28, 2025.
From SaaS player Perfios on an acquisition spree to pre-IPO startups shoring up capital before macroeconomic uncertainties hit home, YourStory brings you all that happens in India's startup ecosystem.
Features stories
How late-stage startups and investors are braving the choppy markets
The first three months of 2025 saw a significant surge in late-stage funding compared to the same period last year. However, the next few months may not be as buoyant for late-stage startups, given the various developments on the global economic front, according to industry experts.
The money tap may not dry out completely but it is likely to slow down, and smaller cheques could be the order of the day.
Amidst the choppy waters, investors are exercising caution, prompting IPO-bound startups, including Ather Energy and Urban Company, to trim their offer sizes considerably. Some late-stage companies are looking to raise funds at a flat valuation, while those with adequate cash flow prefer to wait and watch how things unfold.
How Fittr revived from collapse
In 2020, Fittr was flourishing. The Pune-based health and wellness platform, founded by Jitendra Chouksey (JC), had raised fresh capital from Sequoia now PeakXV and was riding a pandemic-induced fitness boom.
At the start of the pandemic in 2020, Fittr appeared perfectly positioned. As a fully online platform with no dependence on physical gyms, it was uniquely suited for a world under lockdown. Its core model—remote fitness coaching, home-based workout plans, and nutrition guidance—suddenly became incredibly relevant as millions of people stuck at home began prioritising their health and wellness
However, trouble brewed beneath its surface. “We grew, but the profit was not there, and we slipped into losses,” JC recalls. Fittr, a bootstrapped success story for five years, suddenly began bleeding cash. In FY22, it lost Rs 25.2 crore, which spiked in FY23 to Rs 41 crore.
Meet the oldest Indian woman to summit Mount Kilimanjaro
On March 13, Vidya Singh stood triumphantly at 5,895 metres above sea level, becoming the oldest woman in India to summit Mount Kilimanjaro.
This 72-year-old woman from Chennai, whose passion for trekking began in 2013 has completed 19 high-altitude treks across India, Bhutan, and South America, including Mentok Kangri and Machu Picchu.
The “feeling of top of the world” has come after years of consistent efforts at fitness and a lifelong love for sports.
Latest news
Perfios buys healthcare information exchange platform IHX
Fintech SaaS unicorn Perfios has acquired IHX, a health insurance claims and information exchange platform, marking its third acquisition this year.
The financial terms of the transaction were not disclosed. IHX says it processes over 40% of all cashless health insurance claims in India, representing over 10 million transactions and $1 billion in claims annually.
In the last couple of months, B2B SaaS fintech firm Perfios has made two acquisitions: Bengaluru-based startups Clari5 and CreditNirvana. With these acquisitions, the firm aims to bolster its capabilities in risk management, debt collection, and fraud prevention.
Other news
Quess Corp joins world employment confederation
Quess Corp, India’s largest staffing and workforce solutions provider, has joined the World Employment Confederation (WEC) as a Regional Corporate Member, effective April 1, 2025.
This makes Quess the first Indian and South Asian staffing company to join WEC as a corporate member.
Educate Girls appoints Gayatri Nair Lobo as CEO
Educate Girls has appointed Gayatri Nair Lobo as its new Chief Executive Officer, as the organisation aims to impact 10 million learners over the next 10 years.
Gayatri brings nearly 25 years of experience across consulting and the development sector, having previously held leadership roles at A.T.E. Chandra Foundation, India School Leadership Institute, Teach For India, and Dalberg Advisors. .
CloudTV names Harshad Wadivkar as Business Head – Monetisation
CloudTV has appointed Harshad Wadivkar as Business Head – Monetisation to drive its revenue and media partnerships strategy.
Harshad brings over 15 years of experience across digital sales and client partnerships, having worked with brands like DSP Mutual Fund, Hotstar, Mahindra Auto, and agencies such as GroupM and Madison.
(This article will be updated with the latest news throughout the day.)
Edited by Kanishk Singh
