Author: Team CEO VINE

Foodtech major Swiggy has announced it will shut down Pyng, its professional services marketplace, by the end of October 2025, just six months after its launch.

In an email to sellers, the Pyng team cited challenges with unit economics and customer retention, noting that while engagement and feedback were strong, the model was not financially sustainable. The platform will remain active until October 31, allowing ongoing service interactions to conclude before the final closure.

Launched in April 2025, Pyng connected users with professionals across categories such as health and wellness, finance, astrology, travel, and education. Despite recording over 10,000 downloads on Google Play, the initiative couldn’t achieve the scale needed to sustain Swiggy’s broader diversification goals.

Founded in 2014 by Sriharsha Majety, Nandan Reddy, and Rahul Jaimini, Swiggy has evolved from a food delivery startup into a multi-vertical digital platform, experimenting with ventures ranging from grocery delivery to concierge services. However, many of its non-core experiments have been short-lived.

The closure of Pyng follows a series of strategic exits including Swiggy Genie, its hyperlocal delivery service, and Minis, a SaaS tool for D2C brands. Recent launches such as SNACC (10-minute food delivery), Crew (travel and concierge), and Toing (budget meals) reflect Swiggy’s ongoing efforts to identify scalable, profitable segments.

The decision also comes amid fierce competition in India’s quick-commerce market, where Swiggy’s Instamart competes with Blinkit, Zepto, and new entrants like Amazon and Flipkart Minutes. While Instamart helped Swiggy post a 54% rise in operating revenue to ₹4,961 crore in Q1 FY26, losses widened by 96% year-on-year to ₹1,197 crore.

Last month, Swiggy announced plans to spin off Instamart into a separate subsidiary, reinforcing its focus on operational efficiency. As of the latest trading session, Swiggy shares closed 1.54% higher at ₹449.4 on the BSE, reflecting cautious investor optimism amid the company’s latest strategic pivot.

Eyewear giant Lenskart is preparing for its long-awaited stock market debut in Mumbai, targeting a valuation of $9 billion.

The move marks a renewed wave of investor confidence in founder-led Indian startups, positioning Lenskart as one of the country’s most successful homegrown consumer-tech ventures.

The IPO proceeds are expected to strengthen the company’s market presence, drive expansion across India and Southeast Asia, and fund new investments in AI, technology, and smart eyewear innovation. The company also plans to utilize the capital for new store openings, acquisitions, and overall corporate growth.

Founded over 15 years ago by Peyush Bansal, along with partners he met on LinkedIn, Lenskart began as an ambitious idea to make vision care accessible and affordable. From a small office in Faridabad, the company has evolved into a multi-billion-dollar enterprise, transforming India’s eyewear industry through technology, automation, and design innovation.

Under Bansal’s leadership, Lenskart has achieved end-to-end integration, from design and manufacturing to retail and delivery. The company operates robotic production units in India, powered by German machinery, enabling large-scale precision manufacturing. With over 2,700 stores across India and international markets, nearly 40% of Lenskart’s revenue now comes from regions like Southeast Asia and the Middle East.

The company’s success also reflects Bansal’s focus on sustainable and profitable growth. Lenskart reported its first full-year profit in FY24, setting itself apart from many Indian startups still chasing profitability. Backed by investors such as SoftBank and Fidelity Management & Research, Lenskart’s latest valuation surge underscores the power of long-term vision and patient capital.

A familiar face to millions as a Shark Tank India judge, Bansal combines entrepreneurial grit with approachability. Yet beyond the television spotlight, he continues to innovate. Currently he is overseeing the construction of the world’s largest eyewear manufacturing facility in Hyderabad, spread across 50 acres and designed to produce hundreds of thousands of glasses every day.

A McGill University alumnus and former Microsoft engineer, Bansal’s ambitions extend beyond retail. Lenskart is now developing smart eyewear equipped with AI, UPI integration, cameras, and audio features.

As the IPO nears, Bansal stands on the brink of joining India’s billionaire ranks, with his stake in Lenskart estimated at around $800 million, potentially crossing $1 billion post-listing.

Student co-living startup HooLiv has raised ₹24 crore ($2.73 million) in a pre-Series A funding round led by Negen Capital, with participation from institutional investors, family offices, and angel investors.

The fresh capital will be used to expand HooLiv’s presence across non-metro cities, focusing on new bed acquisitions, brand building, and upgrading its property management platform.

The company also plans to replicate its successful model in international markets, signaling its ambition to establish a global footprint in the student co-living space.

Founded in 2019 by Chinmoy Mishra, Rasmi Mishra, Gaurav Vij, and Abhishek Verma, HooLiv was created with a mission to bring structure and innovation to India’s student housing sector.

The platform offers purpose-built accommodations that combine real estate management with digital solutions providing services like maintenance, security, and community engagement to create a safe and connected living experience for students.

Operating across university towns and major coaching hubs, HooLiv’s technology-driven approach ensures affordability, transparency, and operational efficiency for both students and property owners.

Previously, in February 2020, the New Delhi-based startup had raised an undisclosed amount from Kotle-Patil Developers. With this latest round, HooLiv aims to bridge the demand-supply gap in organized student housing, tapping into the growing student population migrating to Tier 2 and Tier 3 cities for education.

Dashamlabs, a Delhi-based deeptech materials science startup specializing in high-performance silica aerogel insulation, has raised ₹12 crore in a seed funding round led by Speciale Invest, with participation from IIMA Ventures.

The fresh capital will help the company expand R&D, scale production capacity, and build pilot systems to accelerate product validation across key industries including oil and gas, defense, and construction.

Founded in 2024 by Ankit Jhanwar, Apoorv Balwani, and Devakar Dhingra, Dashamlabs is developing advanced insulation materials that are lightweight, fire-resistant, and energy-efficient, designed to meet the growing demand for sustainable industrial solutions.

Its flagship silica aerogel boasts ultra-low thermal conductivity, temperature stability from -150°C to 1000°C, and hydrophobic properties, making it ideal for extreme industrial and mobility applications.

Using a proprietary ethanol-based supercritical drying process, the startup is also working toward ambient-pressure drying technology that could make mass production more sustainable and cost-efficient.

With a mission to make advanced, energy-efficient materials globally accessible, Dashamlabs is paving the way for cleaner, safer, and more efficient technologies in next-generation industries.

RARA Barefoot, a new-age footwear brand, has raised $500,000 in an oversubscribed pre-seed funding round backed by founders and senior operators from Zomato, Urban Company, Tata 1mg, Shyft, and HexaHealth, along with Managing Directors and Partners from ChrysCapital and BCG.

The announcement comes alongside the launch of its debut sneaker line, designed to redefine comfort and movement in everyday footwear.

The funding will fuel nationwide D2C expansion, strengthen local manufacturing, and support the brand’s select offline retail partnerships as it introduces barefoot sneakers to a broader Indian audience.

Founded in 2024 by Varun Mimani and Manas Tripathi, RARA Barefoot merges evolutionary design with modern aesthetics to craft performance footwear that encourages natural foot movement—staying true to its vision of helping people “move the way nature intended.”

Launching as a direct-to-consumer (D2C) brand, RARA’s first collection is now available on its official website. The startup also plans to enter multi-brand retail outlets and launch immersive pop-up experiences across major Indian cities in 2026.

Each RARA Barefoot sneaker is designed using barefoot science, featuring a flat sole with zero heel-toe drop, a wide toe box for natural toe spread, and a flexible sole that adapts to the foot’s 33 joints. All sneakers are made in India, combining global barefoot technology with locally sourced, high-performance materials.

Entrepreneur Mayank Bidawatka, co-founder of the now-defunct Indian microblogging platform Koo, has unveiled a new AI-powered photo-sharing app called PicSee under his latest venture, Billion Hearts. Designed to make photo sharing more seamless and personal, the app uses artificial intelligence to automatically identify and exchange photos between people who appear together in pictures with complete privacy control.

Available on both Android and iOS, PicSee leverages facial recognition to detect shared photos from users’ galleries and enables instant sharing once both parties approve. The platform, currently free to use, plans to introduce premium subscription features in the future.

Bidawatka launched Billion Hearts in 2024 with a vision to build “human-centered consumer tech products” that strengthen emotional bonds through technology. Prior to this, he co-founded Koo in 2020 with Aprameya Radhakrishna, which shut down last year after unsuccessful merger and acquisition talks.

Since its soft launch in July 2025, PicSee has grown rapidly expanding from just 25 users to 75 times that size in three months, driven purely by organic referrals. The app has already facilitated the exchange of over 150,000 photos and now operates in 27 countries, including the US, UK, Japan, Germany, and France, while maintaining a strong base in India.

Bidawatka emphasizes that user privacy is central to PicSee’s design. The app does not store any photos on its servers, all data remains encrypted and securely stored on users’ devices.

Billion Hearts had previously raised $4 million in November 2024, led by Blume Ventures, which is now fueling the company’s global expansion and continued product development.

Hyundai Motor India Limited (HMIL) has named Tarun Garg as its next Managing Director and Chief Executive Officer, effective January 1, 2026. This marks a historic milestone, as Garg becomes the first Indian to lead Hyundai Motor India since its establishment 29 years ago.

In his new role, Garg will focus on four strategic priorities — Future Strategy Focused, Market & People Centered, Customer Orientation, and Strengthening Make in India. His leadership will emphasize enhancing customer experience, deepening local supply chains, boosting exports, and advancing next-generation mobility solutions.

With over 30 years of experience in the automotive sector, Garg has played a pivotal role in Hyundai’s growth story. As the current Whole-time Director and COO, he helped the company achieve record-breaking sales for three consecutive years, its highest-ever profits, and the best EBITDA margin in FY24. He was also a key driver behind India’s largest IPO in 2024, a landmark event in the country’s equity market.

Garg joined Hyundai in 2019 as Head of Sales, Service, and Marketing, and his performance quickly earned him a promotion to Chief Operating Officer in 2023. Under his leadership, Hyundai accelerated its digital transformation through initiatives such as MyHyundai (customer app), HSMART (dealer platform), and a direct EV sales channel — all contributing to a customer satisfaction score (NPS) exceeding 90% across sales and service.

Before Hyundai, Garg spent over two decades at Maruti Suzuki India Limited (MSIL), where he rose from Management Trainee to Executive Director of Marketing, Logistics, Parts, and Accessories. His extensive experience in sales, network development, and operations continues to define his leadership vision at Hyundai.

Life sciences technology startup Graph AI has raised $3 million in seed funding led by Bessemer Venture Partners, marking a key milestone in its mission to enhance pharmacovigilance and patient safety through artificial intelligence.

The newly raised capital will be used to strengthen engineering, accelerate product innovation, and expand enterprise operations across global markets. The company also plans to enhance its AI platform capabilities to serve large pharmaceutical clients and regulatory partners more effectively.

Founded in 2024 by Raghav Parvataraju, Vijay Ponukumati, Mohan Konyala, and Ashutosh Bordekar, Graph AI operates within the $8 billion global pharmacovigilance market, which focuses on monitoring and reporting adverse drug events throughout a drug’s lifecycle. The founding team brings deep expertise from technology and healthcare giants such as Infosys, LTI Mindtree, Google, Cisco, and ServiceNow.

Graph AI’s flagship platform, Graph Safety, uses advanced AI automation to streamline pharmacovigilance workflows — from adverse event case processing and signal detection to compliance reporting. By replacing manual processes with intelligent automation, the platform improves data accuracy, ensures audit readiness, and reduces regulatory turnaround times.

The company has already onboarded several enterprise clients, reporting measurable improvements in operational efficiency and compliance speed. Building on this early momentum, Graph AI plans to scale globally, tapping into a growing market that tracks over 7,000 marketed drugs worldwide.

Ride-hailing unicorn Rapido has partnered with Goibibo, ConfirmTkt, and redBus to enable flight, train, bus, and hotel bookings directly on its app. With this move, the Bengaluru-based company aims to evolve into a comprehensive travel and mobility platform for its 5 crore active users across 400+ cities in India.

The expansion aligns with Rapido’s ongoing diversification strategy and its plans to raise $500–550 million in a new funding round.

The raise will include both primary and secondary transactions featuring Swiggy’s stake sale and is expected to strengthen the company’s growth trajectory as it prepares for a potential IPO.

Founded in 2015 by Aravind Sanka, Pavan Guntupalli, and Rishikesh SR, Rapido began as a bike-taxi service focused on short-distance urban mobility. Over the years, it has evolved into a multi-mobility platform, offering auto-rickshaw and cab services, and recently entered the food delivery segment with the launch of Ownly.

The new ‘Travel’ section in the Rapido app allows users to book flights and hotels through Goibibo, buses via redBus, and train tickets through ConfirmTkt. Each service is powered by Rapido’s partners, enabling secure and seamless reservations.

“With 50 million monthly active users, Rapido is bridging India’s last-mile connectivity gaps and redefining everyday travel to be more accessible, affordable, and reliable,” the company said in a statement.

With this launch, users can now manage everything. From a quick airport ride to booking their next family vacation within a single platform that simplifies the travel experience like never before.

Financially, the company continues to show strong performance. The company is expected to cross ₹1,000 crore in revenue for FY25. In FY24, Rapido cut its losses by over 45%, reducing them from ₹675 crore to ₹370 crore, while operating revenue rose 46% to ₹648.1 crore, up from ₹443 crore in FY23.

Everbright Health, a managed services platform supporting mental health providers, has raised $7 million in seed funding led by W Health Ventures and Sanos Capital.

The fresh capital will be used to enhance the company’s AI-powered technology stack, expand its presence across the United States, and adapt its operational model to include more advanced therapy offerings.

Founded by Ben Kuhn, Ginger Holguin, and Daniel Judd, Everbright Health officially launched in October 2025. The platform helps psychiatrists, psychologists, and therapists streamline their workflows by automating patient eligibility checks, authorizations, billing, compliance, and treatment delivery allowing clinicians to focus more on care and less on administration.

Operating on an asset-light model, Everbright partners with mental health providers rather than competing with them. The company also integrates advanced, FDA-approved therapies such as Transcranial Magnetic Stimulation (TMS) and SPRAVATO, helping clinics expand access to treatments that often remain underutilized due to infrastructure challenges.

With technology teams in both the US and India, Everbright combines operational expertise with clinical insight to optimize mental health service delivery.

“Mental health care has made real progress in expanding access to therapy and medications,” said Ben Kuhn, Co-founder and CEO of Everbright Health. “But for millions of people, they need more. We’re building a future where every mental health provider can deliver a full spectrum of care, including advanced interventions that many patients need to get better.”

In just three months since its launch, Everbright Health has onboarded over 75 behavioral health providers across seven US markets, marking strong early traction and growing confidence in its technology-driven approach.