From Reliance jumping into the fashion quick commerce race to CoinDCX announcing a massive crypto bounty programme, the day was packed with movement. On the funding front, Hudle, EduFund, and others attracted fresh capital. Here's your quick roundup of the top funding deals and key business news in India for 21st July 2025.
Daily Indian Funding Digest – 21 July 2025
| Company | Round Type | Amount Raised | Lead Investor(s) | Sector |
|---|---|---|---|---|
| Hudle | Series A | $2.5 million | Sky Impact Capital (with Physis Capital, Atrium Venture, Mahesh Bhupathi, Gaurav Kapur, Blue Tokai & Nitro Commerce founders) | Sports‑tech |
| Plenome Technologies | Seed | Rs 6.5 crore (~US $790 k) | Ovington Capital Partners (Luxembourg), AADI (UAE), Manish Gandhi | Blockchain‑AI |
| ANNY | Pre‑Series A | Rs 10 crore | Atomic Capital | Fashion‑tech |
| EduFund | Series A | $6 million (~Rs 50 crore) | Cercano Management, MassMutual Ventures | Ed‑fintech |
Hudle secures $2.5 million in Series A
Delhi‑based sports community platform, Hudle, has raised $2.5 million in a Series A round led by Sky Impact Capital, with participation from Physis Capital, Atrium Venture and prominent angels including Mahesh Bhupathi, Gaurav Kapur and the founders of Blue Tokai and Nitro Commerce.
The funding will be used to accelerate product enhancements—such as frictionless bookings, match discovery, and performance analytics—with a special focus on pickleball and padel. Hudle also recently introduced India’s first player‑rating system.
Plenome Technologies raises INR 6.5 crore in seed funding
Plenome Technologies, a deep‑tech spin‑off from IIT Madras led by Prof. Prabhu Rajagopal (Shanti Swarup Bhatnagar awardee), together with Vijayaraja Rathinasamy and Anirudh Varna, has secured INR 6.5 crore in a seed round.
The round was led by Ovington Capital Partners (Luxembourg), with participation from AADI (UAE) and angel Manish Gandhi. The funds will be deployed to scale its patented blockchain‑AI stack into global markets, targeting sensitive domains such as healthcare (organ donation tracking), remote voting (BlockVote), and other e‑governance applications.
ANNY bags INR 10 crore in Pre‑Series A
Fashion‑tech start‑up ANNY has raised INR 10 crore in a Pre‑Series A round led by Atomic Capital. The startup will use the capital to broaden its product range, enhance proprietary technology, strengthen distribution channels, and recruit leadership talent.
EduFund raises $6 million in Series A
Ed‑fintech platform EduFund has raised $6 million in its Series A round, led by Cercano Management with participation from MassMutual Ventures.
EduFund, which serves over 250,000 families and works with more than 40 asset managers and 15 lending institutions, plans to deploy the new funds to expand into Tier‑I/II cities, roll out AI‑powered personalised planning tools, and broaden its loan products, emphasising the underserved undergraduate segment.
Key News Highlights for 21 July 2025
Reliance Retail launches ‘Ajio Rush’, a fashion quick‑commerce service
Reliance Retail has unveiled Ajio Rush, a four‑hour fashion delivery platform that operates from its existing retail outlets. Currently live across six Indian cities, it offers over 130,000 styles. Company statements highlight encouraging unit economics, underpinned by increased average order values and lower return rates. The initiative pits Reliance directly against fashion quick‑commerce players such as Myntra, Newme and Slikk.
CoinDCX rolls out India’s largest crypto‑recovery bounty after $44.2 million hack
CoinDCX has launched a Recovery Bounty Programme, offering up to 25 per cent of recovered assets—potentially reaching $11 million—as a reward for intelligence that leads to the retrieval of stolen funds and the identification of the perpetrators. The breach, which occurred on 19 July, resulted in losses of $44.2 million, though user funds remained safe, as losses were absorbed by the firm’s treasury.
Blinkit outperforms Zomato in Q1 gross order value
Zomato’s quick‑commerce unit Blinkit achieved a gross order value (GOV) of INR 11,821 crore in Q1 FY26—surpassing Zomato’s food delivery GOV of INR 10,769 crore. This 140 per cent year‑on‑year increase underscores a shift in consumer demand. Additionally, Blinkit’s net order value hit INR 9,203 crore, overtaking food delivery NOV for the first time, driven by 243 new store openings and a pivot towards an inventory‑led model.
India crowned global leader in fast digital payments via UPI
A recent IMF report names India the world’s top performer in fast digital payments. In June 2025 alone, UPI processed 18.39 billion transactions, amounting to INR 24.03 lakh crore, which marks a 32 per cent increase compared to June 2024. The platform now serves 491 million users, 65 million merchants, and connects 675 banks, accounting for roughly 85% of India’s digital payments and nearly half of global real-time transactions.
StartupTalkyApoorva Bajj
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