Daily Indian Funding Roundup & Key News – 2 July 2025: CIMware Raises $2.3 Mn, Swiggy Shuts Minis & More

Here’s a quick roundup of today’s top updates from the Indian startup ecosystem. This includes funding activity dated 2 July 2025 and key business developments across tech, fintech, and policy.

Daily Indian Startup Funding Digest - 2 July 2025

IORA Ecological Solutions Raised INR 8.5 Crore from Caspian Impact Investments

IORA Ecological Solutions has raised INR 8.5 crore in debt funding from Caspian Impact Investments, backed by the company’s future carbon credit earnings. This marks one of India’s first such carbon-credit-based debt deals. The funding will support the expansion of IORA’s MegCare project in Meghalaya, which helps 80,000 small farmers adopt agroforestry practices. IORA, founded in 2009 by Swapan Mehra, is also working with the Rabo Foundation and Rabobank’s ACORN platform to enable the carbon finance structure.

CIMware Raised $2.3 Million in Pre-Series A from Transition VC

CIMware, a startup building sustainable hardware for data centres, has secured $2.3 million in a Pre-Series A round led by Transition VC. The company’s core product, the Composable Infrastructure Module (CIM), combines compute, storage, and networking in a single rack unit and is designed for AI and high-performance workloads. The funds will be used to scale production, expand the R&D team, and support operations. CIMware was founded by Rajiv Ganth, a former executive at Intel, EMC, and CloudSimple, and plans to deploy the first batch of units in India by late 2025.

Key News Highlights for 2 July 2025

Meesho Open‑sources BharatMLStack Components

Meesho has open‑sourced key parts of its in‑house machine‑learning infrastructure, known as BharatMLStack, starting with its online feature store. These tools, previously used internally to support large‑scale ML workloads, are now available for broader use, helping Indian and global tech teams accelerate their AI efforts.

Swiggy to Shut Down Minis by 10 August

Swiggy has informed sellers that it will discontinue its “Minis” storefront platform by 10 August 2025. Launched in late 2022, Minis allowed small businesses to run commission‑free e‑stores via Swiggy. The decision reflects Swiggy’s move to streamline operations and focus on its core food‑delivery and quick‑commerce business.

Kissht Converts to Public Entity, Begins IPO Journey

Fintech startup Kissht has officially converted into a public limited company, marking its first formal step towards a potential IPO. The resolution to change its corporate structure was passed by shareholders on 17 June 2025, laying the groundwork for a public listing.

Government Allows Cab Aggregators to Surge‑Price Up to 2×

Under the new Motor Vehicles Aggregator Guidelines 2025, the Ministry of Road Transport and Highways has approved dynamic pricing of up to twice the base fare during peak hours for platforms like Uber, Ola and Rapido. Non‑peak fares must remain at least 50 % of base. The change also mandates a cancellation fee and ensures drivers receive 80 % of fares per ride.

Infosys Advocates Work‑Life Balance After Murthy’s 70‑Hour Push

Following co‑founder Narayana Murthy’s comments endorsing a 70‑hour workweek, Infosys has launched an internal campaign encouraging employees to limit overtime. The firm is monitoring remote‑work hours, sending personalised reminders, and reinforcing the importance of health and well‑being.

Daily Indian Funding Roundup & Key News – 1 July 2025

Here’s a quick look at the top startup funding deals and key business updates from across India and the global tech world.

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