From eyewear retailer Lenskart filing documents with the market regulator for an initial public offering to a startup simplifying cruise planning for Indian travellers, YourStory brings you all the latest developments from the Indian startup ecosystem.
Features stories
Ostara Advisors’ blueprint on how to crack climate tech funding
Ostara Advisors, founded by former Citibanker Vasudha Madhavan, is set to launch its own climate-tech-focused fund after a decade of advising sustainability-led deals, including Greaves’ acquisition of Ampere and Routematic’s recent $40M raise.
The planned $10-20 million fund aims to plug India’s glaring Series A climate funding gap by backing 10-15 growth-stage startups with $1-1.5 million cheques. Read more.
Int2Cruises is simplifying cruise planning for Indian travellers
Founded in Singapore in 2022, Int2Cruises is carving out a niche as India’s first cruise-first digital travel platform, simplifying what has traditionally been a fragmented and offline-heavy booking process.
Launched in India in early 2024, it offers access to 400 ships across 25+ global cruise lines with real-time cabin pricing, bundled services like flights, visas, hotels, and live cruise counsellors—all on one integrated platform. Read more.
Lado Panchayat is pioneering rural feminist governance
In villages once dominated by khap panchayats, Lado Panchayat is rewriting rural governance—placing adolescent girls and young women at the centre of power.
Founded by activist Sunil Jaglan, the movement trains girls across Haryana, UP, Bihar, and Rajasthan to hold mock panchayats where they debate and pass resolutions on issues like child marriage, menstruation, gendered abuse, and property rights. Read more.
OGES is using AI to modernise the oil and gas industry
In the oil and gas sector, many companies still rely on outdated systems and Excel sheets, slowing down operations, compromising safety, hindering speed, and decision-making.
Oges, a deeptech startup based in Gurugram, is changing that with AI-powered solutions, which are built for the oilfields. It also empowers teams to find new reserves, fix workflows, and build smart apps. Read more.
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Latest news
Lenskart files DRHP for IPO; to raise Rs 2,150 Cr via fresh issue
Omnichannel eyewear retailer Lenskart has filed its draft red herring prospectus with SEBI for an initial public offering (IPO) comprising a fresh issue of shares worth Rs 2,150 crore and an offer for sale (OFS) of up to 132.29 million shares.
According to the draft IPO documents filed with exchanges, co-founder and CEO Peyush Bansal will sell up to 20.5 million equity shares, acquired at an average cost of Rs 18.60 per share.
Among institutional investors, SVF II Lightbulb (Cayman) Limited, a SoftBank entity, will sell up to 25.5 million shares, purchased at an average price of Rs 74.26. Read more.
Lenskart ends loss streak as it turns profitable in FY25
Peyush Bansal-led Lenskart has turned profitable, clocking a profit of Rs 297.3 crore in the financial year ended March 2025, according to the company’s IPO papers.
The Delhi-NCR-based company has been narrowing losses year over year as it prepares for deeper scrutiny by retail investors. In FY24, it managed to pare losses by 84% at Rs 10.15 crore, against a loss of Rs 63.7 crore in the previous year, after reaching EBITDA profitability.
The omnichannel eyewear retailer posted a 22% growth in revenue from operations in FY25 at Rs 6,652 crore, up from Rs 5,427 crore in FY24. However, the growth in operating revenue was slower compared to the 43% growth from FY23 to FY24. Read more.
Lenskart to acquire 80% stake in Meller brand for Rs 406 Cr
Omnichannel eyewear retailer Lenskart will acquire an 80% stake in Spain-based Stellio Ventures S.L., the company behind the “Meller” sunglasses brand, for Rs 406 crore, according to the company’s DRHP.
The deal was signed earlier on July 12, 2025, between Lenskart’s Singapore-based subsidiary, Lenskart Solutions Pte Ltd, and the founders and investors of Stellio Ventures.
The transaction involves Lenskart purchasing 32,226 shares of Stellio, representing 80% of its fully diluted share capital. Of the total consideration, Lenskart will pay Rs 230.1 crore to Stellio’s investor shareholders and Rs 176.2 crore to its founders, which includes both fixed and deferred components. Read more.
SoftBank, Schroders Capital set for big gains in Lenskart IPO
Japan’s SoftBank Group and Schroders Capital will make blockbuster gains as eyewear retailer Lenskart inches closer to a public market debut, in what will be one of this year’s most sought-after initial public offerings.
Schroders and SoftBank—selling 19 and 25.5 million shares, respectively—have emerged as the largest selling institutional shareholders, according to the company’s DRHP filed with the National Stock Exchange on Tuesday.
The weighted average price for Schroders, according to the DRHP, is Rs 40.90 apiece and Rs 74.26 per share for SoftBank. A back-of-the-envelope calculation suggests that Schroders would likely see an 11X return, while SoftBank would get around a 6X return. Read more.
Funding
Zepto raises Rs 7.5 Cr in funding from Elcid Investments
Quick-commerce startup Zepto has secured Rs 7.5 crore ($0.9 million) in funding from Elcid Investments Ltd., according to a stock exchange filing by the Mumbai-based NBFC, even as the company gears up for a much larger funding round expected to value it at $7 billion.
The company’s revenue surged 2.5X year-on-year to Rs 11,110 crore ($1.34 billion) in FY25, up from Rs 4,455 crore ($537 million) in FY24 and Rs 2,024 crore ($244 million) in FY23, marking a consistent doubling in top-line growth each year, showed the filings.
A spokesperson for Zepto said the company’s valuation in the current round exceeds $5 billion, the mark it last touched in its previous fundraise. The proposed round, if completed, would push Zepto’s valuation to new highs. Read more.
Sharpsell.ai secures Rs 30 Cr in Series A funding
Sharpsell.ai, an AI-driven sales enablement platform, has raised Rs 30 crore in its Series A funding round, including a significant Rs 10 crore investment from Equentis Angel Fund, marking the fund’s largest investment to date.
The company, founded in 2022, serves over 30 leading Indian firms across various sectors, offering AI-powered sales solutions. The funds will enhance product capabilities, deepen sector penetration, and fuel global expansion, particularly in Southeast Asia and the MENA region.
Passprt trips raises $500,000 in pre-seed funding round
Passprt Trips, a new-age personal travel advisor, has secured $500,000 in a pre-seed funding round led by Aroa Venture Partners. Founded in 2023, the company aims to revolutionise the travel industry with its AI-powered platform, offering flexible planning, seamless bookings, and on-trip assistance.
The funds will be used to deepen product capabilities, expand the community of travellers, and roll out to 20 destinations across APAC and the Middle East over the next three months.
Other news
super.money launches flight booking feature in partnership with Cleartrip
super.money, the UPI-first fintech backed by Flipkart, has launched “FLIGHTS,” a flight-booking feature aimed at Gen Z travellers. Developed in partnership with Cleartrip, the offering allows users to book domestic flights via UPI while earning a 5% benefit that stacks with other offers. The move is part of super.money’s effort to evolve UPI from a utility tool into a platform for high-value commerce.
“With ‘FLIGHTS,’ we are embedding value directly into travel bookings on UPI,” said Prakash Sikaria, Founder and CEO of super.money.
Coinswitch launches ‘block by block’ paper presentation competition
CoinSwitch, India’s largest crypto trading platform, has launched ‘Block by Block,’ a national-level paper presentation competition focused on Virtual Digital Assets (VDAs).
In partnership with Trilegal and The Centre for Technology, Entertainment and Sports Law at NUJS Kolkata, the initiative aims to engage law and public policy students in shaping India’s regulatory landscape for VDAs.
Participants are invited to submit papers on the theme of regulating VDAs to foster growth in this new asset class.
Extramarks launches ‘extra intelligence’ AI-powered education suite
Extramarks Education has launched ‘Extra Intelligence,’ an AI-powered education suite that integrates AI across classrooms, assessments, and live classes, offering personalised learning experiences and real-time engagement tracking.
The suite includes features like a Teacher Assistant for personalised lessons, AI-powered assessments, and a 24/7 AI co-pilot for students, aiming to make high-quality education scalable and inclusive globally.
University living reports 44% YoY growth in FY25
University Living, a tech-enabled student housing platform, has reported a 44% year-over-year revenue growth in FY 2024–25. Founded in India, the company now operates in over 120 countries, offering verified accommodation and essential services to international students.
The platform has helped over 80,000 students secure accommodation in the last three years and recently launched a Rs 2 crore Global Scholarship Programme to ease the cost of living for international students.
(This article will be updated with the latest news throughout the day.)
Edited by Kanishk Singh
