Daily Indian Funding Roundup & Key News - 17 November 2025: Tribe Stays Secures $2.8M, KPI Green Bags ₹696 Cr Solar Deal

The Indian startup and business world saw several important updates today, including new funding rounds, regulatory approvals, company announcements, and major contracts. These developments highlight how different sectors from SaaS and co-living to renewable energy, are evolving and expanding. Here’s your roundup of key funding and business news for 17 November 2025.

ExtraMile Play - Seed, $500,000

ExtraMile Play, a gamified workplace engagement platform, raised $500,000 in a seed round led by GSF, with co-leads Mount Judi Ventures, GrowthSense, and Growth91. The funds will be used to enhance AI-driven engagement features, launch a mobile app, and scale operations. The platform serves over 100 enterprises and has engaged 1.5 lakh employees across sectors, including BFSI, retail, and pharma.

Tribe Stays - Seed, $2.8M (₹24 Cr)

Tribe Stays, a premium co-living and managed hospitality startup, secured $2.8 million in a seed round co-led by Artha Venture Fund and Riverwalk Holdings. The funds will expand its portfolio, adding roughly 1,000 beds this year, with a long-term goal of 25,000 beds across India. Tribe operates several student and executive co-living properties and follows an asset-light model.

Hoopr - Pre-Series A, ₹4 crore

Music-licensing platform Hoopr raised ₹4 crore in the first tranche of its extended Pre-Series A, led by Inflection Point Ventures along with family offices and existing investors. Founded by Gaurav Dagaonkar and Meghna Mittal, Hoopr provides copyright-cleared music and tools for creators and brands. The funding will support product development, team expansion, and international growth.

Key Business News for 17th November 2025

AceVector gets SEBI approval for IPO

AceVector Limited, the parent company of Snapdeal, Unicommerce, and Stellaro Brands, has secured approval from the Securities and Exchange Board of India for its initial public offering (IPO). For the fiscal year ending March 2024, AceVector reported revenue of approximately ₹380 crore with an adjusted EBITDA loss of ₹16 crore. Existing shareholders include SoftBank, Nexus Venture Partners, and co-founders Kunal Bahl and Rohit Bansal. The IPO will feature a combination of a fresh issue and an offer for sale, with IIFL and CLSA appointed as book-running lead managers.

RBI grants PayU integrated authorisation

The Reserve Bank of India has granted PayU integrated authorisation to operate as a payment aggregator covering online, offline, and cross-border transactions under the Payment & Settlement Systems Act. This licence allows PayU to collect and settle payments for merchants in both digital and physical channels, as well as handle inbound and outbound international transactions. PayU must comply with regulatory norms around minimum capital, governance, and security. The company stated that the authorisation will enable it to provide a unified payments infrastructure to its merchant base.

Swiggy introduces an additional fee for select restaurants

Swiggy has announced a new per-order fee for a select group of restaurant partners on Swiggy One orders, effective 25 November 2025. The fee will range from ₹2 to ₹5 per order, depending on the share of Swiggy One transactions in each payout cycle. This charge is in addition to Swiggy’s existing commission, which typically ranges between 17% and 25%. Swiggy reported a consolidated net loss of ₹1,092 crore in Q2 FY26, and this move aims to optimise operational costs while maintaining service levels.

KPI Green awarded ₹696.5 crore solar contract in Gujarat

KPI Green Energy has signed a ₹696.50 crore contract with SJVN Ltd to build a 200 MW solar project at the GIPCL Renewable Energy Park in Khavda, Gujarat. The deal includes engineering, procurement, and construction (EPC) as well as a three-year operation and maintenance (O&M) contract. KPI Green will supply all plant and equipment, manage construction and commissioning, and provide O&M spares and consumables for the initial three years post-commercial operation. The company stated that the contract reinforces its capabilities in executing large-scale renewable energy projects.