Welcome “India” Bulls!

India’s startup ecosystem is brimming with potential - and Inc42's 2025 Soonicorn Tracker is proof. The report features 121 high-growth startups across 19 sectors that are on the cusp of joining India’s elite unicorn club. Collectively, these soonicorns have raised over $13.2 Bn and are backed by major investors like Accel, Peak XV, Tiger Global, and Blume Ventures.

What’s catching investor eyes? Fintech leads the pack with 19 soonicorns, followed by SaaS (16), and D2C (13). Notably, 45 startups on the list have already crossed the $100 Mn valuation threshold, signaling strong pre-unicorn momentum.

Power players like Zolve, Captain Fresh, and BlueSmart are emerging as serious contenders. And for the first time, the tracker also includes 100 potential soonicorns startups that haven't yet hit that growth curve but are rising fast.

Dive in to stay ahead!

P.S. The Sunday Special is designed to help you discover the most important Startup insights outside of Share Markets. Our regular Share Market updates will resume as usual on Monday.

Startup Menu

• Startups this Week

• Funding Space

• Case Study

• Everything else you need to know

• Life Hack in Video

• Special

STARTUPS THIS WEEK

Zepto Secures ₹400 Cr Funding From Motilal Oswal

Zepto is on a capital-fueled sprint. The quick-commerce unicorn has raised ₹400 Cr (~$46 Mn) in its latest funding round from Motilal Oswal Alternates, the private equity arm of Motilal Oswal Financial Services. This fresh injection comes just months after its $665 Mn Series E round led by Glade Brook, Nexus, and StepStone Group, which pushed Zepto's valuation to $3.6 Bn.

But this isn't just about raising cash - it's strategic. Zepto is doubling down on domestic capital amid rising scrutiny over foreign direct investment (FDI) in e-commerce. With key Indian family offices like the Taparias (Famy Care) and promoters of Mankind Pharma now backing the startup, Zepto is positioning itself as a homegrown giant ready to scale.

What’s driving the frenzy? The company claims strong unit economics, with deep penetration in urban markets and a loyal customer base. Zepto plans to deploy the new capital to expand dark store operations, enhance logistics, and prepare for its IPO, which could hit markets as early as next year.

FUNDING SPACE

💰 Weekly Funding Spotlight: Major Startup Investments (Aug 09 - Aug 15)

The past week witnessed significant investments across various sectors:

💼 Infra: Shreetech Data has raised $4.5M from Aarii Ventures and the Cello Family Office to scale its verticals: data centers, power infra, and in-house manufacturing. With 100+ projects delivered and 500+ MW sanctioned power, the Mumbai-based firm is doubling down on India’s digital infra boom.

🚀 Stealth: Refold AI exited stealth mode with a $6.5M seed round led by Eniac and Tidal Ventures. Solving the $350B enterprise integration tax, it automates API workflows for 30+ clients, with 1,500+ users and 30M+ API calls/month, targeting ERPs, CRMs, and supply chains.

📊 Scale: Darwinbox secured $40M from Canada’s OTPP (TVG), pushing its valuation near $1B. With 1,000+ global clients and 4M employees served across 130 countries, the HR tech unicorn is focusing on Agentic AI and North America, where it’s tripled growth YoY.

🏥 GenAI: Healthtech startup Arintra raised $21M Series A led by Peak XV Partners. Its GenAI platform automates EHR coding, slashing denials by 43%, cutting A/R cycles by 50%, and boosting revenue by 5%+. A new Bay Area HQ will support its US expansion.

CASE STUDY

🍫 Sweet Spot - Inside Hershey’s Marketing Playbook

Hershey’s has mastered the art of emotional marketing, combining product innovation, omnichannel distribution, and storytelling to dominate the $200B+ global confectionery industry. With a legacy dating back to 1894, the brand continues to stay fresh by rolling out seasonal flavors, limited-edition variants, and collaborations - keeping the product line dynamic and buzzworthy.

Their reach? Unmatched. Hershey’s products are available in over 90 countries, with a strong presence across retail stores, cinemas, vending machines, and digital platforms. They've even integrated smart shelf displays and QR-linked experiences in modern retail, blending tech with tradition.

The real magic lies in their emotional storytelling. From the "Kisses Holiday Bells" TV ads to the heartfelt "Heartwarming the World" campaign, Hershey taps into themes of love, nostalgia, and family, resonating across generations. Social media is a key amplifier, with user-generated content, interactive polls, and brand challenges driving virality - especially on Instagram and TikTok.

To reinforce brand trust, Hershey invests heavily in sustainability and CSR, like their “Cocoa for Good” initiative, which supports 50,000+ cocoa farmers. All of this is wrapped in a consistent brand identity - distinctive packaging, the iconic Hershey font, and that signature foil wrap - making Hershey not just a treat, but a tradition.

FROM THE WAR ZONE

Everything else you need to know

⚡ Spark: Ola Electric just dropped prices on its flagship scooters: S1 Pro Plus at ₹1.69L and Roadster X Plus at ₹1.89L, both cut by over ₹30K. The upgrade? A new indigenous 4680 Bharat battery delivering up to 501 km range and 120 km/h top speed. With MoveOS features and festive deliveries post-Navaratri, Ola is doubling down on “Made in India” momentum.

🏗️ Expand: CtrlS has opened Eastern India’s first Rated 4 datacenter in Bengal Silicon Valley. The ₹2,200 Cr project starts with 44,000 sq ft and 16 MW capacity, scaling up to a 60 MW campus. The facility aims to serve enterprise, AI, and government data needs - fueling jobs, innovation, and regional infrastructure.

🌐 Shockwave: In a bold move, Perplexity AI (valued at $18B) has offered $34.5B in cash to acquire Google Chrome. The pitch includes keeping Chromium open-source and investing billions more in innovation. While Google hasn’t responded, the bid has sparked massive debate over AI, browser control, and tech power dynamics.

💸 Hike: Swiggy has increased its platform fee from ₹12 to ₹14 in peak zones. Though minor for users, the ₹2 hike could add up to ₹2.8 Cr/day or ₹33 Cr/year, helping offset its ₹1,197 Cr Q1 loss - almost double from last year. With demand soaring, every rupee counts.

LIFE HACKS

SPECIAL

💰 Passive Gold - Make Money Selling Digital Stickers on Etsy

Selling digital stickers on Etsy has become one of the most lucrative low-barrier online businesses - with zero inventory, no shipping hassles, and unlimited passive income potential. According to the guide, Etsy’s massive 96.3 million active buyers and 7.4 million sellers (as of 2024) create a ripe environment for digital creatives.

Digital stickers are used for digital planners, scrapbooks, journals, and messaging apps. What makes them profitable? They’re non-physical, instantly downloadable, and infinitely reusable, meaning you design once and sell forever.

To get started, creators are using tools like Procreate, Canva, and Adobe Illustrator. File types such as PNG, JPG, and PDF are popular, especially those with transparent backgrounds for easy drag-and-drop functionality. Top niches include motivational quotes, seasonal stickers, cute animals, and aesthetic planner icons.

Pricing ranges from ₹150 to ₹2,000+, depending on bundle size and exclusivity. SEO plays a major role - using long-tail keywords, optimized product titles, and targeted tags helps boost visibility in search results.

The guide also emphasizes the importance of branding, quality mockups, and offering commercial licenses for added value. With consistent uploads and clever marketing, many Etsy sellers have built multi-lakh-per-month sticker businesses - entirely from home.

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Until tomorrow!

Hanoomaan India Business team

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