Sarvam’s Revolution, CARS24 Sacks 200 Employees, and IN-SPACe Backs Private Players

Sarvam is set to build India’s first sovereign AI model, marking a significant leap in the nation’s tech autonomy. Meanwhile, CARS24 is trimming down, laying off 200 employees in a restructuring effort to better align its team for the long haul. On a different frontier, IN-SPACe is backing private players in space tech with a new initiative to develop small satellite platforms. Besides, there’s Startup Spotlight to savor.

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

“Hume Tumpar Naaz Hai”: Sarvam To Build India’s First Homegrown Sovereign AI Model

Bengaluru-based AI startup Sarvam has been chosen to build India’s first homegrown sovereign LLM under the IndiaAI Mission.

With government-backed compute resources, Sarvam steps into the heavy task of crafting an indigenous foundation model. In a world racing toward AI dominance, India now attempts to write its own lines in the language of the future.

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“Tum Sab Chalte Bano”: CARS24 Lays Off 200 Staff In Restructuring Exercise

CARS24 has let go of around 200 employees across departments in what it calls a strategic restructuring move.

The company insists it’s not about cutting costs, but about realigning for its long-term vision. Still, for many, the promise of the future comes at the cost of today’s certainty.

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“Hum Honge Kamiyab”: IN-SPACe Unveils Initiative To Help Private Firms Build Small Satellite Bus Platforms

IN-SPACe has launched a new initiative called Satellite Bus as a Service (SBaaS) to back private players in building small satellite platforms.

The idea is to give Indian firms a clearer shot at designing and hosting payloads for space missions. In a sector long dominated by giants, a quieter groundwork for new hands is being laid.

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1. Ather Energy secured ₹1,340 crore from anchor investors on Friday, attracting major domestic and global names. This comes shortly after it filed its Red Herring Prospectus with SEBI on April 22, 2025.
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2. DeHaat has raised ₹200 crore through non-convertible debentures issued to Trifecta Venture Debt Fund - III to fuel its geographic expansion. The full-stack agritech platform continues to deepen its phygital network connecting small farmers to vital resources.
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3. Amazon has pumped ₹350 crore into its digital payments arm, Amazon Pay India, through a fresh equity infusion. Despite intense competition, Amazon Pay clocked over 111 million transactions in March, holding the eighth spot among payment platforms.
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4. Phab, the D2C healthy snacking brand, has raised $2 million in a seed round led by OTP Ventures, with Capri Global, Sim&San law firm, and others joining in. The fresh capital is set to fuel its omnichannel growth and team expansion.
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5. Paramount Services has raised ₹2.5 crore from Finvolve and India Accelerator to strengthen its AI-driven software and digital claims management. The Gurugram-based startup also plans to widen its reach across insurance companies in India.
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“Waah, Kya Scene Hai”: BoreCharger Is Reviving India's Borewells with Innovative Recharge Technology

Pune-based BoreCharger is quietly tackling India’s groundwater crisis by reviving dried-up borewells with its patented robotic "angioplasty" tech.

Despite a strong pitch on Shark Tank India, they walked away without a deal — the sharks found the niche too daunting. Undeterred, BoreCharger now eyes a future built on AI-driven aquifer mapping and a wider franchise network.

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