India Startup & Business Digest: Top Updates

The Indian startup ecosystem remains abuzz with funding, strategic recruitment, product shifts, and policy updates. Ranging from biotech advancements to UPI overhaul and AI industry layoffs, July 28 saw major news that indicates both promise and caution in equal proportions. Here's a round-up of the major highlights.

Genexis Biotech Raises INR 4 Crore to Scale Precision Fermentation

Genexis Biotech from Vadodara raised INR 4 crore in a GVFL-led seed round backed by Benzai10. The startup specializes in the manufacturing of animal-origin-free recombinant proteins using precision fermentation — a key technology for the biopharma, cell culture, food-tech, and cosmetics industries.

The new funding will be applied to increase bioreactor capacity, introduce new protein products such as transferrin and albumin, construct a GMP-capable facility, and scale up sales and distribution. Genexis has a Class 10,000 certified cleanroom and is looking to meet worldwide demand for ethically sourced, high-purity proteins.

Drizz Raises $2.7 Million for Smarter Mobile App Testing

AI-driven mobile app testing platform Drizz raised $2.7 million in seed funding from Stellaris Venture Partners, the lead investor.

As mobile apps are the cornerstone of digital interactions, Drizz provides an automation-first platform for developers to optimize testing and accelerate release cycles.

The funding will be used to enrich the platform, expand the team, and define go-to-market strategy as Drizz emerges as a DevOps partner in the high-growth mobile development ecosystem.

VerSe Innovation Appoints New CHRO

VerSe Innovation, the owner of Dailyhunt and Josh, hired Rohit Sandal as Chief Human Resources Officer. Previously a leader at Freshworks and Lenovo, Sandal takes on this role to form the talent roadmap as VerSe grows its AI-first products and global presence.

The appointment reflects the company's vision to create a future-ready talent base in sync with its flagship offerings such as NexVerse.ai and Josh Audio Calling, which currently reach over 350 million users.

Krutrim Fires Over 100 Due to Product Delays

Ola-funded Krutrim, an AI unicorn founded by Bhavish Aggarwal, fired over 100 staffers in its second round of layoffs. The retrenchment mainly hit the linguistics team, which had expanded fast but saw slow product momentum.

The company is now concentrating on leaner operations and expense management in the face of fundraising issues and market pressure to bring market-ready solutions.

Lenskart IPO Picks Up Pace

Lenskart, the eyewear behemoth, has got board approval to go ahead with a public offering. The IPO may raise as much as INR 8,500 crore, comprising fresh issue and secondary sales. The board also included independent directors Ashish Kashyap and Sayali Karanjkar, indicating that it is willing to satisfy public governance norms. A DRHP filing is imminent.

Astra Shuts Down Four Months Post-Funding

AI SaaS startup Astra, which aimed to disrupt enterprise sales with AI agents, has ceased operations just four months after raising capital. Despite support from prominent backers, including Aravind Srinivas of Perplexity AI, the company cited low market traction and operational hurdles.

UPI Gets New Usage Limits from August 1

To control backend load, NPCI is bringing in fresh UPI usage guidelines from August 1. Users will be able to do only 50 balance inquiries and 25 account views per UPI application on a daily basis. Some facilities such as autopay requirements and status inquiries will be disabled during non-peak times. These are being done to make the system more stable in light of increasing digital payment volumes.

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