Healthtech startup August AI has raised $3 million in a fresh funding round from Accel and Claypond Capital, the family office of Ranjan Pai.
The newly raised capital will be used to enhance product capabilities, expand its medical knowledge base, and strengthen customer reach. The company also plans to refine its data infrastructure, improve AI model precision, and enhance user experience across multiple regions and languages.
Founded in 2022 by Anuruddh Mishra, August AI is developing an intelligent digital health companion that helps users understand symptoms, interpret medical reports, and manage treatments more effectively.
By combining AI-powered insights with a network of verified doctors and hospitals, the platform provides users with reliable, real-time health information. Users can upload medical documents within the chatbot to receive detailed analyses, effectively bridging the gap between patients and healthcare providers.
August AI currently serves over 3.5 million users across 160 countries, solidifying its position as one of the emerging leaders in AI-driven healthcare innovation.
Blockchain startup KGeN (Kratos Gamified Engagement Network) has raised $13.5 million (around ₹119.7 crore) in a strategic funding round led by Prosus Ventures, with participation from Jump Crypto and Accel.
The latest funding brings the company’s total capital raised to over $43.5 million to date.
The newly infused funds will be used to scale KGeN’s verified user distribution layer, expand global partnerships, and strengthen its blockchain infrastructure that supports AI, DeFi, and gaming ecosystems.
The company also plans to deepen its presence across international markets while enhancing its on-chain engagement and commerce capabilities.
Founded in 2013 by Manish Agarwal (former CEO of Nazara Technologies), Ishank Gupta, and Ritesh Arora, KGeN has built a blockchain-based, verifiable distribution network designed to authenticate real users across digital ecosystems.
KGeN enables clients in AI, gaming, and DeFi sectors to identify, acquire, and monetise genuine users through decentralised storefronts and campaign tools that reduce acquisition costs and improve lifetime value.
Its flagship product, K-Store, provides on-chain storefronts and engagement tools for retention and monetisation.
As of August 2025, the company boasts 3.9 crore registered users, 61.4 lakh monthly active users, and 7.8 lakh daily active users, generating an annualised revenue of $48.3 million. Operating across 60+ markets with 200+ active partnerships, KGeN sits at the intersection of blockchain, AI, and consumer technology.
Dairy, once seen as a fragmented livelihood in rural Odisha, has evolved into a powerful engine of social and economic growth, thanks to OMFED (Odisha State Cooperative Milk Producers’ Federation Ltd.).
Founded in 1985 and headquartered in Bhubaneswar, OMFED has become Odisha’s largest and most trusted dairy brand by connecting thousands of rural milk producers with millions of urban consumers through a farmer-led cooperative model.
Today, the brand stands as a symbol of rural empowerment, brand trust, and sustainable agribusiness, reporting a record turnover of ₹1,028 crore in FY24.
Its journey from a small cooperative initiative to a state-dominant dairy enterprise demonstrates how community ownership and innovation can drive both economic and social transformation.
OMFED Origins: Building a Cooperative Movement in Odisha
OMFED’s story began with a mission to bring fairness, stability, and opportunity to Odisha’s rural dairy farmers. Established to empower local producers and eliminate middlemen, the federation adopted the “Anand Pattern” cooperative model pioneered by Amul ensuring both social impact and economic inclusion.
The cooperative operates through a three-tier structure that seamlessly connects farmers to consumers:
Village Cooperative Societies (VCS): At the grassroots, individual farmers voluntarily supply milk, ensuring direct participation.
District Milk Unions (DMUs): These unions collect, chill, and test milk while providing farmers with technical and veterinary support.
State Federation (OMFED): At the apex, the brand oversees processing, packaging, and marketing dairy products across Odisha, linking rural livelihoods with urban markets.
This inclusive structure eliminated middlemen, ensured fair pricing, and returned profits directly to farmers empowering hundreds of thousands of producers and turning dairy farming into a stable and dignified source of income.
Keys to Success: Empowerment, Quality, and Trust
OMFED’s model isn’t just about milk, it’s about transforming lives. Farmers receive timely payments, training in animal husbandry, and access to feed, breeding, and veterinary care, improving productivity and income stability.
For consumers, OMFED stands for purity, quality, and trust. From milk, curd, and paneer to ghee, sweets, flavored milk, and ice cream, OMFED products have become staples in Odia households. The brand’s strong local identity has made “OMFED” synonymous with milk itself in many homes.
Growth: From Dairy Cooperative to Multi-Category Brand
Over the years, OMFED has evolved beyond dairy into a multi-category enterprise. It has diversified into organic products, horticulture, packaged drinking water, and even chocolates, showcasing its ability to adapt to changing consumer preferences.
Its retail transformation has been equally remarkable. What began as small milk booths has evolved into departmental stores, selling not only OMFED products but also FMCG items and digital services. The cooperative has also ventured into modern retail and e-commerce, with online ordering options and ice cream parlours that boost brand visibility and accessibility.
Collaborations with the National Dairy Development Board (NDDB) and state initiatives such as the Mukhyamantri Kamdhenu Yojana have further strengthened OMFED’s supply chain and enhanced farmer welfare.
Financial Growth and Market Presence
OMFED’s robust structure and diversification strategy have driven impressive financial growth. The cooperative reported a ₹1,028 crore turnover in FY24, marking its best-ever performance.
In the first quarter of FY25 (April–June 2025), it achieved a record ₹247 crore turnover.
With an extensive distribution network spanning nearly every town and city in Odisha, OMFED has become an essential part of the state’s food ecosystem, connecting rural producers and urban consumers with efficiency and transparency.
Currently, the federation is led by Shri Vijay Amruta Kulange, IAS, who was appointed as Managing Director (MD) in March 2024.
Challenges and the Road Ahead
Despite its strong legacy, OMFED faces growing competition from national dairy giants like Amul, Mother Dairy, and Country Delight, as well as local players such as Pragati and Milky Moo (by Milk Mantra, now acquired by Hatsun Agro).
To maintain its leadership and relevance, OMFED is focusing on several strategic priorities:
Optimizing the supply chain with better logistics, expanded cold storage, and waste reduction.
Embracing digital transformation through data analytics, real-time tracking, and online sales.
Expanding into untapped rural and interstate markets while reinforcing its Odia roots.
Revitalizing its brand identity and modernizing retail experiences to appeal to younger consumers while preserving traditional trust.
These initiatives aim to ensure operational efficiency, consumer convenience, and sustained brand loyalty in an increasingly competitive dairy market.
OMFED’s story is more than a dairy success — it’s a testament to the power of collaboration, trust, and purpose-driven leadership.
In a state with limited industrialization, OMFED has created sustainable livelihoods, inspired social change, and instilled local pride through its cooperative model.
By blending heritage with innovation, OMFED continues to redefine how a homegrown enterprise can empower farmers, strengthen rural economies, and earn the enduring trust of millions.
EcoEx, a sustainable waste management and clean technology startup, has raised $4 million in a seed funding round co-led by Dovetail Global Fund PCC, Navbharat Investment Fund, and Narnolia Velox Fund, with participation from a group of strategic investors.
The newly raised capital will be used to advance EcoEx’s technology capabilities, hire top talent, and expand its footprint into new markets.
A substantial portion will also go towards strengthening the company’s clean-tech infrastructure and scaling its recently launched Waste Commodity App, which enables transparent and traceable waste trading.
Founded in 2020 by Nimit Aggarwal and Akshaya Rath, EcoEx offers an integrated platform for waste collection, commodity trading, and Extended Producer Responsibility (EPR) compliance.
The company empowers bulk waste generators, recyclers, and producers to achieve ethical waste disposal and sustainability goals through its suite of tools such as EPR Pro, a B2B marketplace, and other mobile-based digital solutions.
EcoEx’s Waste Commodity App features real-time tracking, e-auctions, and secure digital payments, promoting transparency and efficiency in the waste trading ecosystem. The platform currently supports a network of over 3,000 recyclers and collectors across India, facilitating seamless interactions between waste producers and certified recyclers.
Since inception, the company claims to have helped Producers, Importers, and Brand Owners (PIBOs) secure over 1 million metric tonnes of EPR credits through CPCB-certified recyclers, driving measurable environmental and compliance outcomes.
The company aims to leverage this funding to make waste management smarter, data-driven, and scalable across India’s fast-growing CleanTech landscape.
Affluense AI, an intelligence platform redefining how brands and businesses engage with affluent consumers, has raised ₹3 crore in a pre-seed funding round led by Zeropearl VC, with participation from Kunal Shah (Founder & CEO, CRED), Pravin Jadhav, and other prominent angel investors.
The fresh capital will be used to drive product innovation, AI infrastructure enhancement, market expansion, and strategic hiring across engineering and business functions.
Affluense AI plans to accelerate the development of its intelligent relationship-mapping and insight-generation tools that help businesses identify, understand, and connect with high-net-worth individuals more effectively.
Founded in 2023 by Sumit Sahu and Rishi Kumar, the company empowers enterprises catering to affluent customers such as wealth management firms, luxury brands, automotive players, and real estate developers to build data-driven, meaningful relationships.
Its product suite includes deep research enrichment, Connect AI, AI-powered network graphs, and real-time trend insights, enabling precision-driven client acquisition and engagement.
By transforming traditional prospecting workflows into relationship-first, AI-powered systems, Affluense AI helps clients unlock new growth channels with enhanced personalization. The startup has already partnered with several wealth management firms, reporting measurable gains in affluent client acquisition and engagement outcomes.
The company now aims to strengthen its AI ecosystem and establish leadership in affluent data intelligence on a global scale.
India’s startup ecosystem has continued to hold its ground as one of the world’s largest and fastest-growing. Despite tighter funding conditions globally, Indian startups have steadily added new unicorns to the list — proving that strong fundamentals, a large domestic market, and innovative business models can still unlock billion-dollar valuations.
In 2021, India saw a record 44 startups turn unicorns during the peak of the funding boom. The momentum cooled in 2022 and 2023, with 23 and 26 new unicorn startups respectively, as investors tightened their purse strings amid global macro headwinds. By 2024, the number dropped further, with only about 6 startups making it to unicorn startups, among them were Zepto, InCred, Perfios, Rapido, RateGain, and MoneyView.
Now, as we move through 2025, India has added 5 new unicorn startups so far this year — Juspay, Netradyne, Porter, Drools, and Jumbotail. Together, they reflect a strong mix of sectors: payments infrastructure, fleet AI, intra-city logistics, pet food, and retail supply chain. This shows that the market is rewarding startups with resilient business models, solid unit economics, and clear paths to profitability even as venture funding remains selective.
Updated List of Unicorn Startups in India 2025
1. Juspay
Founded: 2012
Founders: Vimal Kumar and Ramanathan RV
What they do: Juspay is a Bengaluru-based payment gateway and payments stack provider, powering secure, seamless digital payments for major brands like Amazon, Swiggy, and Flipkart.
Last Funding: Raised an undisclosed amount from Kedaara Capital in January 2025, pushing its valuation over $1 billion.
Financials: Juspay’s revenue for FY24 was estimated at over ₹350 crore, with profitability improving steadily thanks to India’s booming digital payments ecosystem.
Recent Update: Juspay has been expanding its presence in UPI infrastructure and Buy Now Pay Later segments, strengthening its market position.
2. Netradyne
Founded: 2015
Founders: Avneesh Agrawal and David Julian
What they do: The startup builds AI-powered driver and fleet safety solutions through its flagship product, Driveri, which uses computer vision and edge computing to monitor and improve fleet operations.
Last Funding: In February 2025, it raised fresh capital from SoftBank Vision Fund 2, pushing its valuation into unicorn territory.
Financials: In FY24, Netradyne reported revenue growth of 50% YoY, driven largely by its US fleet clients. Losses have narrowed as adoption grows.
Recent Update: The company is expanding deeper into India’s logistics and commercial transport sector with new strategic partnerships.
3. Porter
Founded: 2014
Founders: Pranav Goel, Uttam Digga, and Vikas Chaudhary
What they do: Porter is an on-demand intra-city logistics platform that connects businesses and individuals with mini-truck drivers for fast, reliable deliveries.
Last Funding: Raised $100 million in a March 2025 round led by Tiger Global and existing backers, taking its valuation past $1 billion.
Financials: Porter closed FY24 with estimated revenues of over ₹1,000 crore but continues to operate at a net loss as it focuses on expanding into new cities and services.
Recent Update: Porter is reportedly exploring expansion into Southeast Asian markets and is piloting electric vehicle fleets to cut costs and meet ESG goals.
4. Drools
Founded: 2010
Founder: Fahim Sultan Ali
What they do: Drools is one of India’s largest pet food brands, producing affordable, high-quality nutrition for dogs and cats.
Last Funding: Became a unicorn startup in April 2025 when Nestlé acquired a minority stake to enter India’s rapidly growing pet care market.
Financials: Drools clocked FY24 revenues exceeding ₹500 crore, supported by growing urban pet ownership. It has been profitable for the last two years.
Recent Update: Drools is working on expanding its manufacturing capacity and launching new premium pet care products in the grooming and treats categories.
5. Jumbotail
Founded: 2015
Founders: Ashish Jhina and Karthik Venkateswaran
What they do: Jumbotail operates a full-stack B2B marketplace for food and grocery distribution, serving kirana stores with supply chain, warehousing, logistics, and fintech solutions.
Last Funding: Raised $120 million in Series D in May 2025, led by SC Ventures (Standard Chartered). Its acquisition of Solv India strengthened its MSME network.
Financials: Jumbotail’s revenue grew to INR 819 crore in FY23. The company’s net loss widened to INR 264 crore as it doubled down on scale and tech. FY24 numbers are awaited.
Recent Update: Jumbotail is integrating Solv India’s MSME network and building new credit products for small retailers.
6. Dhan
Founded: 2021
Founders: Pravin Jadhav, Jay Prakash Gupta, and Alok Pandey
What they do: Mumbai-based Raise Financial Services, parent of Dhan, operates a stock trading and investment platform simplifying investing for India’s retail traders. Its offerings include the Dhan app, Option Trader, Dhan Web, TradingView by Dhan, and DhanHQ API for advanced users.
Last Funding: Raised $120 million (INR 1,065 crore) in a Series B round led by Hornbill Capital and Japan’s MUFG, with participation from BEENEXT, Ramesh Damani (DMart), DSP Family Office, JM Financial Family Office, and Aashish Somaiyaa (White Oak Capital). The round valued the company at over $1 billion, making it a unicorn.
Financials: Reported INR 400 crore PAT in FY25, nearly double INR 177 crore in FY24, with revenue reaching INR 900 crore.
Recent Update: Funds will support AI-driven product expansion, wealth distribution solutions, and growth in Tier I and II cities. This follows a $22 million round in 2022 led by BEENEXT, marking a 10x valuation rise in three years. Avendus Capital was the exclusive financial advisor.
Competition: Competes with Zerodha, Groww, Angel One, and Upstox, positioning itself as a tech-led platform for India’s new-age retail investors.
According to industry estimates, India’s total unicorn startups count stands at around 120 as of May 2025, making it the third-largest startup ecosystem after the US and China. The country’s unicorn startups now span over 15 sectors, with fintech, SaaS, logistics, consumer brands, and B2B marketplaces leading the pack.
With these 6 unicorn startups crossing the billion-dollar mark so far, India’s startup ecosystem continues to prove its depth and diversity — even in a time of cautious funding and tighter capital flows.
This list of unicorn startups will be updated throughout 2025 as more high-potential startups raise new rounds and enter the unicorn club…
GreyLabs AI, an emerging player in the generative AI space, has secured INR 85 crore (nearly $10 million) in a Series A funding round led by Elevation Capital.
The round also included participation from existing investor Z47 (formerly Matrix Partners India) and several undisclosed angel investors, reflecting growing confidence in India’s AI automation ecosystem.
The fresh capital will be used to enhance GreyLabs AI’s technology infrastructure, expand its customer base, and broaden its geographical footprint.
The company plans to strengthen on-ground client support and scale its AI solutions to serve more enterprises across the BFSI (Banking, Financial Services, and Insurance) and fintech sectors.
Founded in 2023 by Aman Goel, Harshita Srivastava, Shivam Gupta, Raj Sanghavi, Debabrata Basak, and Shreyas Patel, GreyLabs AI specializes in automating customer care operations for financial institutions using AI-driven voice agents and speech analytics.
Its platform helps organizations derive actionable insights, improve quality assurance, and deliver enhanced customer experiences through real-time AI-powered interactions.
This Series A round follows the company’s $1.5 million seed funding in 2023, which was led by Matrix Partners India (now Z47) and supported by noted angel investors such as MoEngage founder Narasimha Reddy, Uni Cards founder Nitin Gupta, and Scapia founder Anil Goteti.
Currently, GreyLabs AI serves over 50 BFSI clients, including prominent names like RBL Bank, AU Bank, IDFC FIRST Bank, Groww, and Axis Finance. The startup aims to grow its customer base to 300 and open new regional offices as part of its expansion strategy.
With this new capital, GreyLabs AI is set to lead AI-driven automation in customer service, transforming how enterprises manage voice interactions and operational efficiency within India’s rapidly evolving financial ecosystem.
Navata Supply Chain Solutions (Navata SCS), a tech-enabled B2B last-mile logistics and supply chain platform, has raised ₹13.5 crore ($1.52 million) in a fresh funding round led by Abyro Capital, with additional participation from Equanimity Investments, its existing backer.
The infusion of capital will enable Navata Supply Chain Solutions to accelerate its expansion across India, bolster its AI-powered logistics ecosystem, deepen enterprise-focused offerings, and further its reach within the manufacturing, retail, and e-commerce supply chain segments.
Founded in 2020 by siblings Hima Parvataneni and Vineel Parvataneni, Navata SCS is dedicated to transforming India’s fragmented B2B logistics sector. Through advanced technology, operational excellence, and predictive intelligence, the company delivers fast, cost-effective, and transparent logistics solutions across both urban and rural regions.
“This investment will help us advance our vision of building a unified logistics platform powered by AI and data,” said Vineel Parvataneni, Co-founder of Navata Supply Chain Solutions. “We are excited to deepen our impact in India’s manufacturing, retail, and e-commerce sectors by providing smarter, more reliable supply chain solutions.”
The round marks Abyro Capital’s first India-focused investment, following previous global investments in NavaFlex Inc. and Monetize360. The operator-led venture firm primarily invests in early-stage startups within deep-tech, infrastructure AI, and vertical SaaS domains.
Raise Financial Services, the parent company of the popular stock trading platform Dhan, has announced the successful closure of a $120 million (approximately INR 1,065 crore) Series B funding round led by Hornbill Capital and Japan’s MUFG, boosting the company’s valuation beyond the $1 billion mark.
The latest funding round also saw participation from BEENEXT, Ramesh Damani (DMart), DSP Family Office, JM Financial Family Office, and Aashish Somaiyaa (White Oak Capital), officially ushering Dhan into India’s growing unicorn club.
The newly acquired capital is set to fuel it’s expansive growth plans. The company will channel these funds into broadening its financial product ecosystem, enhancing its AI-driven investing and trading infrastructure, and launching innovative solutions in wealth distribution.
With a focus on strengthening its reach within Tier I and Tier II cities, the brand is poised to address the evolving needs of India’s diverse retail investor segment.
Founded in 2021 by Pravin Jadhav (former CEO of Paytm Money), Jay Prakash Gupta, and Alok Pandey, Raise Financial Services introduced Dhan to simplify the stock trading and investment journey for India’s rapidly expanding base of retail investors. Its product suite includes the Dhan trading app, Option Trader, Dhan Web, TradingView by Dhan, and the DhanHQ API targeting advanced traders. The platform has quickly established itself as a technology-forward player in the investment space.
This Series B round marks the company’s second institutional fundraising effort, coming on the heels of its $22 million raise in 2022 led by BEENEXT, which then valued the startup at around $125 million. The latest round reflects a nearly tenfold increase in valuation over just three years. Avendus Capital acted as the exclusive financial advisor for this transaction.
Financially, Dhan has posted robust growth with a profit after tax (PAT) of INR 400 crore in FY25, almost doubling from INR 177 crore in FY24, and revenues reaching approximately INR 900 crore. These figures highlight both strong profitability and rising adoption among users.
The startup’s entry into the unicorn club 2025 makes it the sixth Indian startup to achieve this coveted status in 2025, joining the ranks of Netradyne, Porter, Drools, Fireflies.ai, and Jumbotail.
In India’s highly competitive investment tech landscape, the startup continues to vie with established platforms like Zerodha, Groww, Angel One, and Upstox.
While Groww leads as the largest trading platform in India with over 12 million monthly users, Dhan currently boasts an active base of about 1 million users and is steadily gaining ground among retail traders.
With the Indian investment ecosystem rapidly transforming, Raise Financial Services is focused on building an AI-powered, inclusive trading platform that empowers
Delhi-NCR-based baby care quick commerce startup OZi has raised $3.3 million in a seed funding round led by Blume Ventures, marking its maiden institutional fundraise.
The round also saw participation from Huddle Ventures, Bipin Shah’s Zeropearl VC, Untitled, and several prominent angel investors.
The fresh capital will be used to expand OZi’s operations to new cities, scale its product catalogue (SKUs), and strengthen its delivery infrastructure to meet the growing demand for rapid baby care essentials.
Founded by serial entrepreneur Amit Sah in September 2025, OZi aims to redefine convenience in baby care through ultra-fast delivery. The founding team also includes Arushi Arora (ex-Urban Company, BCG) and Charishma Motwani (ex-Cars24, BCG), who bring extensive experience from leading consumer and technology companies.
Currently operational in Gurugram, OZi delivers baby essentials such as diapers, apparel, toys, and nutrition products in under 30 minutes. The platform offers a curated selection from trusted brands like Cetaphil, Nestlé, Huggies, and Chicco, with its app available on both Android and iOS.
The round also saw participation from notable industry leaders including Abhinav Sinha (OYO, Kluizz), Gaurav Ajmera (Pristyn Care, Vetic), Dhyanesh Shah (Mosaic Wellness), Gian Singh (Mi Arcus), Ramakant Sharma (Livspace), and Naman Mawandia (magicpin).
With quick commerce adoption on the rise across India, OZi aims to establish itself as the go-to platform for parents seeking trusted baby care products delivered at lightning speed.
