Top Startup News Today: Funding, Innovation, and Tech Breakthroughs | 24th October

The Indian startup ecosystem is buzzing with energy, innovation, and investment this Thursday. From homegrown sustainable ventures to AI-driven entertainment projects and major funding rounds, the country’s entrepreneurial landscape is demonstrating resilience, creativity, and global ambition. Here’s your in-depth roundup of today’s most important updates.

Top Startup News Today

Sustainable Growth: Chandpur Paper’s Journey from Small Unit to Industry Leader

In the heart of Uttar Pradesh, a small kraft paper unit founded by Arvind Kumar Mittal in 1998 has grown into a sustainable packaging leader. Chandpur Paper, now helmed by Amit Mittal, started with just a three-acre plot and an initial investment of Rs 4 crore, producing 25 tonnes of kraft paper per day.

Kraft paper, known for its durability and versatility, is widely used for wrapping fragile items, filling voids in packaging boxes, and making strong bags and envelopes. Chandpur Paper’s journey is emblematic of how traditional manufacturing can embrace sustainability, innovate at scale, and address modern packaging needs while staying rooted in India.

India’s Semiconductor Moment: Opportunities in a $1 Trillion Global Industry

The global semiconductor market is projected to exceed $1 trillion by 2030, and India is positioning itself as a critical node in this high-tech supply chain. According to Endiya Partners’ report India’s Semiconductor Moment: Perspectives from DEMO, the country has four key advantages: a talented workforce, growing domestic demand, supportive government policies, and a thriving startup ecosystem.

The report highlights that Indian startups, alongside strategic public-private collaborations, can enable the nation to capture significant market share and emerge as a global semiconductor hub—an opportunity that could redefine India’s role in technology manufacturing and innovation.

Venture Moves: BlueHill VC Bets on Advanced Healthcare

Chennai-based BlueHill VC continues to make strategic bets in healthcare innovation. The firm has invested in Hyderabad-based Helex, a startup developing advanced therapeutics for patients with genetic kidney disorders. While investment specifics remain undisclosed, BlueHill typically initiates with $1 million per company and follows up with $2–4 million in subsequent rounds.

Earlier, BlueHill had supported EtherealX in its seed round in 2023, helping the startup raise $341,000 at a post-money valuation of $2.4 million. These investments underscore the firm’s focus on impactful, science-driven solutions in India’s health and biotech sectors.

Funding Spotlight: Wonderland Foods, Megaliter Varunaa, and Michezo Sports

• Wonderland Foods has raised Rs 140 crore in its first institutional funding round, led by Asha Ventures and UK-based British International Investment (BII). The healthy-snacking brand plans to build a green processing facility in Greater Noida, create over 1,000 jobs (primarily for women), expand its distribution network, and launch new products in the branded dry fruits and nuts segment.

• Megaliter Varunaa, Hyderabad-based and mentored by Brigade REAP, secured Rs 15 crore in seed funding. The startup converts sewage treatment plants into circular water utilities through its zero-CapEx, subscription-based model, addressing urban water management challenges while delivering operational and financial benefits.

• Michezo Sports, operating in India’s growing sports infrastructure sector, received investment from Centre Court Capital and Rainmatter by Zerodha. This funding enables expansion into sports infrastructure projects, including pools, public sports facilities, and distribution of sports materials, supporting India’s ambitions to host global events like the 2036 Olympics.

Tech & Crypto Updates: Leadership Shifts and Operational Comebacks

• WazirX is set to restart operations on October 24 after a cyberattack last year led to a $230 million asset loss. The revival follows creditor-approved restructuring by Zettai Pte Ltd, with 95.7% of creditors voting in favor. Users will benefit from 0% trading fees across all pairs during the relaunch.

• BharatPe appointed former Paytm Senior VP Ajit Kumar as CTO, bringing over 19 years of tech experience to scale payments and lending platforms.

• ONDC brought Rohit Lohia, another ex-Paytm executive, on board as Chief Business Officer, strengthening its strategic, product, and risk management capabilities in India’s digital commerce ecosystem.

EV & Sustainability Initiatives Gain Momentum

• Bolt.Earth and Atul Greentech launched a nationwide Home Charging Programme for EVs, aiming to standardize home chargers and educate customers on safe, efficient EV charging.

• MoEVing, in partnership with Tata Motors’ dealers, will deploy 700 electric small commercial vehicles (e-SCVs) across 10+ cities, cutting nearly 2,000 tonnes of carbon emissions annually, supporting India’s Net Zero 2070 target.

Digital Payments & Fintech Developments

• CCAvenue and Ujjivan Small Finance Bank partnered to enhance merchant payment experiences with white-labelled solutions, promoting cashless transactions for small businesses.

• Ujjivan SFB’s Hello Ujjivan app has facilitated Rs 690 crore in transactions, reaching over 13 lakh users, primarily women. The app supports 11 Indian languages and integrates voice, visual, and vernacular banking.

AI, Deeptech, and Industrial Collaborations

• NOVA Control Tecnologix and Tata Elxsi co-developed Kavach 4.0, the next-gen Automatic Train Protection system, aiming for nationwide deployment in Indian Railways.

• Tally Solutions integrated Bharat Connect for Business into TallyPrime, enabling seamless ERP operations and automated invoice, payment, and reconciliation processes, particularly benefiting MSMEs.

• Collective Artists Network and Microsoft Azure partnered for AI-powered content creation, including feature films and episodic series, marking a significant leap in India’s AI-driven entertainment.

• IIT Madras and Applied Materials India expanded collaboration to advance semiconductor research using the AppliedTwin platform, enhancing student and MSME access to high-tech simulation tools.

• Fractal achieved Amazon Web Services Generative AI Consulting Services Competency, underscoring its global expertise in generative AI strategy, implementation, and application for enterprise clients.

From sustainable manufacturing to AI-powered innovation, fintech growth, and electrification of mobility, India’s startup ecosystem is navigating an exciting phase of transformation. These stories reflect a country where talent, innovation, and investment converge, shaping the future of technology, business, and society.