From Freshworks CEO Dennis Woodside discussing recent workforce reductions to fintech firm Juspay pursuing new investments that could establish it as the first unicorn of 2025, StartupSuperb brings you today’s pivotal headlines across various sectors. Here’s a summary of the prominent stories:
Featured News
“Had to let a significant number of staff go for the company’s growth”: Freshworks CEO Dennis Woodside
Freshworks CEO Dennis Woodside shared with StartupSuperb that the decision to reduce the workforce by 13% last year was a challenging but necessary choice driven by the company’s evolving priorities and skill demands.
“Last fall, we faced the need to let a significant number of people go. This aligns with our growth as a company. Some priorities from a couple of years ago are no longer relevant, and the skill sets of some employees no longer meet our future needs,” Woodside explained in an exclusive interview with StartupSuperb.
Last year, Freshworks eliminated 660 positions in response to a changing competitive landscape that required a reassessment of its strategy. Globally, SaaS companies are confronting the rapid progression of artificial intelligence, with many, including industry leaders like Salesforce and Atlassian, resorting to staff reductions while restructuring teams to enhance AI capabilities.
Latest News
Dunzo’s Kabeer Biswas Joins Flipkart for Quick Commerce Initiative
Former Dunzo CEO Kabeer Biswas is reported to have joined Flipkart to oversee the company’s quick commerce initiative, Flipkart Minutes, as confirmed by a source familiar with the situation. While Flipkart has not commented at the time of publication, the Walmart-owned e-commerce giant appears committed to expanding its Flipkart Minutes service, which already includes rapid medicine delivery in Bengaluru and Delhi, with plans to extend these services to other major cities.
Swiggy Launches New App Pyng, Entering Professional Services
Swiggy has introduced its third app, Pyng, marking its foray into the professional services market. This launch follows the introduction of Snacc, another food delivery app by Swiggy. Currently in the pilot stage, Pyng will allow fitness coaches, yoga instructors, dance teachers, language tutors, and educational coaches to list their services.
The app will facilitate service scheduling, payment tracking, availability modifications, and adjustments to offerings. However, details regarding the pricing structure for professionals—whether it will be subscription-based, commission-based, or another model—remain unclear.
Shark Tank India Judge Azhar Iqubal Launches New Company Fenado AI
Azhar Iqubal, co-founder of Inshorts and judge on Shark Tank India, has launched his new venture, Fenado AI, alongside Manish Singh Bisht, former Head of Technology at Inshorts. The platform empowers users without coding skills to create apps and websites in minutes.
Fenado AI is geared towards startups, small businesses, and larger firms, offering comprehensive technology solutions. “Every startup requires a co-founder proficient in coding, app development, and web creation. With advancements in AI, individuals can now manage this independently. Fenado AI enables anyone, regardless of coding knowledge, to build apps or websites,” Iqubal explained to StartupSuperb.
Funding News
Beyond Snack Secures $8.3M in Series A Funding
Beyond Snack, a banana chips brand, has successfully raised $8.3 million in a Series A funding round led by 12 Flags Group. Notable participation also came from Japanese VC firm Enrission India Capital and existing investors, including NAB Ventures and Faad Network.
The company intends to invest the new capital in expanding into new markets, innovating product offerings, and enhancing its supply chain infrastructure. “This new investment allows us to introduce the exceptional taste of Beyond Snack banana chips to more snack lovers nationwide, elevating their snacking experiences,” stated Manas Madhu, Founder of Beyond Snack.
BluSmart in Discussions to Raise $50M in Series B Funding
EV ride-hailing startup BluSmart is reportedly in negotiations to secure $50 million in a Series B funding round, according to a source close to the situation. Inc42 first reported on this development. The source indicated that the latest funding would value the company at approximately $335 million pre-money.
BluSmart has received commitments for half of the required funding and anticipates closing the round next month. The funding will attract high-net-worth individuals (HNIs), family offices, and several venture capital firms.
Mintoak Secures Rs 71 Cr in Secondary Investment from Z3Partners
Mintoak, a SaaS platform catering to banks and merchant acquirers, has raised Rs 71 crore in a secondary funding round. This round involved early-growth investor Z3Partners acquiring a minority stake from some of Mintoak’s initial institutional backers.
“This fundraising is a strong affirmation of the value we’ve delivered to our early investors,” said Raman Khanduja, CEO and Co-founder of Mintoak. “We’re eager to welcome Z3Partners aboard and look forward to harnessing their expertise as we scale new heights.”
Revivo Secures Undisclosed Amount in Pre-Seed Series A
Revivo, a tech-focused laundry and dry-cleaning startup, has obtained an undisclosed amount in a Pre-seed funding round led by Inflection Point Ventures (IPV). The new capital will be channelled into enhancing technology, branding efforts, and recruiting talent to promote growth and strengthen market presence.
Operating within a D2C model, the company leverages technology and collaborates with local service providers to navigate the fragmented laundry industry. Serving cities like Gurgaon and Delhi, the startup processes over 5,000 orders monthly and manages 300,000 garments while prioritising sustainability through eco-friendly packaging and reusable delivery boxes.
Co-founded by Khushboo Gupta, an FMS alumna with expertise in research and people management, along with Vikas Agarwal, an IIT-IIM graduate boasting over ten years of experience in marketing and business development.
Other News
Step Up Ventures Partners with Mount Judi Ventures
StepUp Ventures has collaborated with Mount Judi Ventures to launch an accelerator programme aimed at helping startups raise Rs 1 crore through the Mount Judi India Micro Fund and additional VCs during Demo Day. The initiative will also provide further funding opportunities up to Series A via the Mount Judi India Growth Fund.
The programme offers startups access to investors, mentors, and industry experts, along with structured guidance, market access, and financial support essential for growth. “Through this partnership, we intend to expand the impact of startups across India, focusing particularly on Tier 2 and 3 regions. The accelerator programme will act as a launchpad, empowering entrepreneurs with essential resources and connections for effective and sustainable scaling,” said Raja Singh Bhurji, CEO and Incubation Director at StepUp Ventures.
Avinya Ventures Hosts Startup Mixer 2.0 with SIDBI
Early-stage VC fund Avinya Ventures has carried out its Startup Mixer 2.0 in Surat, in association with the Small Industries Development Bank of India (SIDBI). This year marks the 10th anniversary of the Startup Mission, which aims to promote the startup ecosystem in Tier 2 and Tier 3 cities.
SIDBI plays a crucial role by supporting local entrepreneurs with financial aid, mentorship, and resources. Through targeted programmes and partnerships, SIDBI focuses on enhancing funding access, fostering innovation, and promoting economic growth. The event aimed to create regional awareness and provided a platform for entrepreneurs to engage with investors and industry leaders, aligning with Avinya’s goal of empowering startups from diverse backgrounds.
Captain Fresh Appoints Rupali Gupta as Group CHRO
Tech-driven seafood supply chain startup Captain Fresh has appointed Rupali Gupta as its Group Chief Human Resources Officer (CHRO).
In her new role, Rupali will oversee People & Culture initiatives across the company’s global operations, including India, the US, Europe (Spain, France, and Poland), and the UAE. As Captain Fresh continues its international expansion, Rupali’s focus will be on talent management, organisational growth, cultural integration, and fostering a high-performance work environment across various regions.
With over 20 years of experience in human resources and consulting, Rupali has held senior leadership roles at firms such as Korn Ferry, Mercer, Mundipharma, Standard Chartered Bank, and Accenture. “As Captain Fresh rapidly scales, it’s crucial to preserve our unique culture while cultivating a unified, high-performing team. I am excited to collaborate with the leadership team to ensure we attract top talent, promote a culture of collaboration and engagement, and drive organisational success across all regions,” stated Rupali Gupta, Group CHRO of Captain Fresh.
(This article will be updated with the latest news throughout the day.)