Piyush Goyal reflects on ‘Startup India’💼
Amazon to acquire Axio, Infosys Q3 profit rises 11% YoY, India to cross 900 million internet users, Funding Deals and more.
Good morning and welcome to Friday’s edition of Rise & Shine!
"Stay away from people who put others down."
Today’s reminder is simple yet powerful: the company we keep shapes our mindset and well-being.
Surrounding yourself with positivity uplifts you and fosters a more supportive and constructive environment.
Tech Updates
National Startup Day 2025: Union minister Piyush Goyal reflects on nine years of ‘Startup India’
On India’s National Startup Day 2025, Union Minister of Commerce and Industries Piyush Goyal reflected on the government's flagship ‘Startup India’ initiative, launched in 2016. The number of startups has surged from a mere 502 in 2016 to over 154,000 in 2024, generating 1.7 million direct jobs. India’s unicorn count increased tenfold during this period, from 11 to 118. The government introduced 62 regulatory reforms, provided tax exemptions to 3,606 startups, and supported 2,583 startups via the Startup India Seed Fund Scheme. The Bharat Startup Knowledge Access Registry (BHASKAR) now hosts over 460,000 registrations.
Amazon to acquire fintech startup Axio for $200 million
Ecommerce giant Amazon is set to acquire digital lending platform Axio. In a blog post, Axio announced that the due diligence process was completed in December and that the Reserve Bank of India must green-light the acquisition. Amazon will invest around $200 million in cash to acquire the company.
Infosys Q3 profit rises 11% YoY to Rs 6,806 crore, revenue up 8%
Infosys, India’s second-largest IT services exporter, reported an 11% year-on-year (YoY) growth in its consolidated net profit at Rs 6,806 crore, while revenue from operations increased by 8% YoY to Rs 41,764 crore. Constant currency revenue increased 6.1% YoY and 1.7% quarter-on-quarter.
India to cross 900 million internet users this year: IAMAI report
India will have over 900 million internet users in 2025, with the majority coming from rural areas of the country, according to a report by the Internet and Mobile Association of India (IAMAI) and research firm Kantar. As of 2024, the country had 886 million internet users, representing a 58% penetration.
Funding Deals
Netradyne, a SaaS provider of artificial intelligence (AI) and edge computing, has raised a $90 million Series D round led by Point72 Private Investments, with participation from Qualcomm Ventures and Pavilion Capital.
MicroMitti, a proptech firm, has raised Rs 90 crore in a funding round from prominent local HNIs, family offices, and influential business leaders from Indore.
Astro-tech startup AstroSure.ai has secured $6 million in a seed funding round led by Pradeep Dadha and a clutch of other investors.
Waste management startup WeVOIS has raised Rs 36 crore ($4.2 million) in its Series A round led by Negen Capital and Vyom Wealth (the Polycab family office), with additional participation from Venture Catalysts, SN Capital, Warmup Ventures, Marsshot Ventures (Razorpay Founders’ Fund), and other angel investors.
Defense-focused deep tech startup Constelli has raised $3 Mn in its pre-Series A funding round led by Pravega Ventures.
Foodtech startup Fambo has raised Rs 21 crore ($2.5 million) in a pre-Series A funding round led by EV2 Ventures, with participation from Rajesh Sawhney and several Ultra High Net Worth Individuals (UHNIs).
Bhubaneswar-based Indiyanet, which runs and operates multiple online properties in the commercial mobility domain, has raised a pre-seed funding round from PointOne Capital and a few angels.
⭕️ Short Story: The Supportive Circle
Maya worked on a team where one colleague criticized everyone else’s efforts. This drained her energy and made her doubt her abilities.
She started spending more time with team members who encouraged and celebrated each other’s successes. As a result, Maya became more confident and found joy in her work again, proving the power of a positive company.
Tweet of the day🐥
As you wrap up your week, reflect on the energy and attitudes of those around you. Choose to be in circles that uplift and inspire.
Rise & Shine reminds you that positivity breeds growth and happiness.
Have an uplifting and energizing Friday!
Thanks for reading till the end!