PwC India’s Accelerator, Tokyo Electron’s Dream, and Ola Electric Trims Jobs

PwC India is launching an accelerator to back AI, blockchain, and spacetech startups, while Tokyo Electron is eyeing a deeper footprint in India’s chipmaking landscape. Meanwhile, Ola Electric is trimming over 1,000 jobs to rein in losses, signaling turbulence in the EV sector. On the brighter side, Zomato and Paytm have secured spots in the Nifty India Internet & Ecommerce Index, highlighting the growing dominance of digital-first businesses.

Grab your simmering cup of StartupChai.in and unwind with our hand-brewed memes.

“Sab Apna Apna Dekh Lo”: Ola Electric To Cut Over 1K Jobs Amid Rising Losses

Ola Electric is reportedly letting go of over 1,000 employees and contract workers as it struggles with mounting losses.

While the company dismissed the layoff figures as "speculative," it attributed the downsizing to automation and restructuring. The move, framed as a step toward better margins and efficiency, comes amid growing challenges in India's EV sector.

Read more here

“Ho Raha Hai Bharat Nirman”: PwC India Launches Accelerator To Support Startups In AI, Blockchain & Others

PwC India has unveiled the Emerging Tech Startup Challenge, an accelerator aimed at bolstering 15 late-stage startups in AI, blockchain, spacetech, and data analytics. Eligible startups—backed by Series A or B funding with proven commercial deployments—will receive 25 hours of pro-bono consulting on management, go-to-market strategies, valuation, and taxation.

The three-month programme, open from March 5 to May 5, 2025, seeks to support startups in retail, manufacturing, financial services, healthcare, and telecom.

Read more here

“Swagat Nahi Karoge Humara”: In Chipmaking Push, Tokyo Electron To Expand India Footprint With Manufacturing Hub

Tokyo Electron is deepening its India presence with plans for a manufacturing hub, though full-scale localisation isn’t on the immediate agenda.

Most of its chipmaking operations remain in Japan, with a smaller footprint in the US. This move follows its MoU with Tata Electronics last year, signaling a steady but cautious semiconductor push in India.

Read more here

“Waah Kya Scene Hai”: Zomato, Paytm Featured In Nifty India Internet & Ecommerce Index

Zomato now leads the Nifty India Internet & Ecommerce Index with the highest weight of 20.3%, followed by Info Edge and PB Fintech.

Paytm, Nykaa, and IRCTC also make the cut, each holding around 7-8%. With a mix of fintech, e-commerce, and brokerage firms, the index offers a snapshot of India’s digital economy.

Read more here

1. B2B fintech startup Rupifi is set to raise ₹1,215 Cr in a bridge round backed by Bessemer, Ankur Capital, and Quona Capital. The fresh funds aim to strengthen its position in India's growing digital lending space.
   Read more here

2. Together Fund plans to close its $150 Mn Fund II by June, focusing on AI startups. With 31 investments so far, it aims to back 19-20 more, building on its portfolio of Jhana, WorkHack, and others.
   Read more here

3. Aviral Bhatnagar’s A Junior VC has closed its maiden ₹100 Cr fund to back pre-seed startups in India. With plans to raise an additional ₹50 Cr through a greenshoe option, the fund looks to make early bets on high-potential ventures.
   Read more here

4. Japan’s UNLEASH Capital Partners has led a $1.1M seed round in fintech startup CredResolve. The AI-driven debt recovery platform plans to expand to 25+ financial institutions and scale its tech stack across multiple cities.
   Read more here

5. Fertility care startup Arva Health has raised $1M in a pre-seed round led by All In Capital. Founded by Dipalie Bajaj and Nidhi Panchmal, Arva aims to make fertility care more accessible, affordable, and stigma-free in India.
   Read more here