Top Startup News: Spinny’s Losses Widen, Vedantu Secures Fresh Capital, Curefoods Bags Pre-IPO Funding & More

India’s startup ecosystem continues to deliver a mix of bold moves, fresh capital flows, and key milestones. From Spinny’s widening losses despite revenue growth to Vedantu attracting new funding amid a tough edtech winter, and Curefoods raising big money ahead of its IPO, today’s roundup captures the pulse of a sector that is as resilient as it is dynamic. Add to this the rising share of women in leadership roles, a nationwide HealthTech innovation challenge from IIT Indore, and Flipkart’s push to empower local entrepreneurs through UP’s ODOP scheme, and you get a snapshot of the big stories shaping the Indian startup landscape right now.

Top Startup News

Spinny: Revenues Race Ahead, But Losses Bite Harder

Tiger Global-backed Spinny, the pre-owned car marketplace, is back in the spotlight—though not for reasons it might have hoped. For FY25, the company reported a 34.4% jump in losses, taking the red ink up to ₹673.8 crore. The irony? Just a year earlier, in FY24, Spinny had managed to trim down its losses, offering a glimpse of profitability on the horizon.

But the story isn’t all grim. Even as costs ballooned, Spinny’s revenues rose nearly 25%, clocking in at ₹4,650 crore from contracts with customers. Additional support income and interest income also inched up to ₹101.5 crore, compared to ₹98.5 crore last year. The numbers underscore a familiar dilemma in India’s startup corridors: growth at scale is expensive, and profitability often takes the backseat when expansion is the driver.

For Spinny, which thrives in the fast-growing pre-owned car market, the bigger question is whether its revenue surge will eventually outrun its widening losses. Investors, no doubt, are watching closely.

Women in Leadership: The 20% Milestone

It’s not every day that statistics feel historic, but here’s one that does: for the first time, women’s share in leadership roles at India’s best companies has touched 20%.

The findings come from the 10th edition of the Best Companies for Women in India (BCWI) report, compiled by Avtar, a workplace culture and inclusion consulting firm. Out of 125 companies surveyed, women made up 35.7% of the overall workforce—a steady number—but the shift in leadership is what’s stealing the limelight.

Sector-wise, professional services (44.6%) and ITES (41.7%) lead the way in female participation, while pharma (25%), FMCG (23%), and manufacturing (12%) are stepping up efforts to close the gap. The numbers may still appear modest, but they represent a turning tide in corporate India—proof that inclusion is no longer a token agenda but a competitive advantage.

Vedantu: A Lifeline in a Tough Funding Winter

If edtech has had a bumpy ride in the past couple of years, Vedantu has shown it can still convince backers of its long-term vision. The Bengaluru-based platform has raised $11 million in fresh capital through convertible notes, led by ABC World Asia, with Accel and Omidyar Network also participating.

This isn’t a standalone deal but part of a larger ongoing funding round. What it does signal, however, is investor faith—even if cautious—in Vedantu’s ability to adapt and grow in an edtech sector that has been forced to recalibrate post-COVID.

For a sector once hailed as India’s next big export story, Vedantu’s ability to attract capital amid a tough funding climate offers both reassurance and a reality check: the money is still flowing, but it’s reserved for players with proven grit.

Curefoods: A Pre-IPO Power Play

Meanwhile, Curefoods, the Bengaluru-based cloud kitchen and food brand roll-up, has secured a sizeable ₹160 crore in pre-IPO funding. The cheque comes from 3State Ventures, the investment arm of Flipkart co-founder Binny Bansal.

The fund picked up 1.28 crore shares at ₹124 each, a move approved by Curefoods’ board earlier this month. Under SEBI’s ICDR rules, this allotment will be adjusted against the company’s planned fresh issue, effectively signaling strong backing just ahead of its public market debut.

For Curefoods, which has grown aggressively by acquiring and scaling digital-first food brands, the investment is both financial firepower and a vote of confidence from one of India’s most prominent startup veterans.

Betting on HealthTech: IIT Indore’s Nationwide Challenge

At the intersection of technology and healthcare, a new opportunity is brewing. IITI Drishti CPS Foundation, the research park of IIT Indore, has teamed up with the Digital Health Network (DHN) to launch the DHN HealthTech Innovation Challenge 2025.

The goal is simple yet ambitious: identify early-stage startups working on affordable, technology-driven healthcare solutions. Winners won’t just walk away with funding—they’ll get mentorship, incubation, pilot opportunities, and access to industry networks.

For India, where healthcare accessibility and affordability remain critical challenges, this initiative could surface ideas that go far beyond incremental improvements—potentially unlocking solutions at scale.

Flipkart and ODOP: Taking Local to Global

Big tech meeting grassroots ambition makes for powerful storytelling, and Flipkart’s expanded partnership with Uttar Pradesh’s One District One Product (ODOP) scheme is exactly that.

At the Uttar Pradesh International Trade Show 2025, inaugurated by Prime Minister Narendra Modi and Chief Minister Yogi Adityanath, Flipkart showcased how it is integrating artisans, weavers, and local entrepreneurs into its vast marketplace.

From microsites and digital training to onboarding ODOP-linked enterprises and GI-tagged sellers, Flipkart has been steadily bridging the gap between local craftsmanship and national demand since 2020. The five-day event in Greater Noida isn’t just another trade show—it’s a reminder that when technology meets tradition, new markets can be created, and livelihoods transformed.

This week’s startup updates reveal a simple truth: India’s innovation economy thrives on contrasts. Losses widen even as revenues soar, funding slows down but still finds its way to resilient players, and inclusion inches forward in boardrooms long dominated by men. Whether it’s Curefoods gearing up for the public markets or Flipkart bringing local artisans online, the momentum is undeniable.

India’s startup story isn’t linear—it’s a patchwork of bold bets, uncertain risks, and big dreams. And that’s what makes it worth watching.