• Startup Pulse
    altM raises $10.3 million in a Series A round led by Rainmatter by Zerodha and Mela Ventures, with Omnivore, Theia Ventures, Aureolis Ventures, Spectrum Impact and strategic angel investors participating. Venomics AI raises $2.7 million in a pre-seed round co-led by Speciale Invest and South Park Commons, with Operators Studio participating. EloElo Group raises $80 million in a Series C round led by Hornbill Capital and NBCUniversal, with MIT Investment Co. and existing investors participating. Peppermint Robotics raises ₹100 crore (approximately $10.5 million) in a Pre-Series B round led by pi Ventures and Crane Venture Partners, with Asiana Fund participating. Traversal raises $120 million in a Series B round at a $1 billion valuation, led by Kleiner Perkins, Redpoint and Khosla Ventures, with Sequoia Capital, Battery Ventures and Amex Ventures participating. GIVA raises over $100 million in a round led by Multiples Alternate Asset Management. The Croffle Guys raises ₹14 crore in a round led by V3 Ventures, with N.A.N Partners participating. Solgram raises over $1 million in a pre-seed round led by DSG Consumer Partners and Saama Capital, with Kapil Chopra participating. Sachin Tendulkar makes a strategic investment in Metasports Interactive, the company behind Hitwicket. The amount was not disclosed. Hyeglo Beauty raises ₹7 crore in a round led by Sauce, with Giga Capital, Consumer Collective, Reckitt's Arjun Purkayastha and The Patient Capital participating. altM raises $10.3 million in a Series A round led by Rainmatter by Zerodha and Mela Ventures, with Omnivore, Theia Ventures, Aureolis Ventures, Spectrum Impact and strategic angel investors participating. Venomics AI raises $2.7 million in a pre-seed round co-led by Speciale Invest and South Park Commons, with Operators Studio participating. EloElo Group raises $80 million in a Series C round led by Hornbill Capital and NBCUniversal, with MIT Investment Co. and existing investors participating. Peppermint Robotics raises ₹100 crore (approximately $10.5 million) in a Pre-Series B round led by pi Ventures and Crane Venture Partners, with Asiana Fund participating. Traversal raises $120 million in a Series B round at a $1 billion valuation, led by Kleiner Perkins, Redpoint and Khosla Ventures, with Sequoia Capital, Battery Ventures and Amex Ventures participating. GIVA raises over $100 million in a round led by Multiples Alternate Asset Management. The Croffle Guys raises ₹14 crore in a round led by V3 Ventures, with N.A.N Partners participating. Solgram raises over $1 million in a pre-seed round led by DSG Consumer Partners and Saama Capital, with Kapil Chopra participating. Sachin Tendulkar makes a strategic investment in Metasports Interactive, the company behind Hitwicket. The amount was not disclosed. Hyeglo Beauty raises ₹7 crore in a round led by Sauce, with Giga Capital, Consumer Collective, Reckitt's Arjun Purkayastha and The Patient Capital participating.
  • Rapido Fined INR 10 Lakh by CCPA for Misleading 5-Minute Auto Advertisements

    Rapido

    New Delhi: The Central Consumer Protection Authority (CCPA) has imposed a penalty of ₹10,00,000 on Rapido, operated by Roppen Transportation Services Pvt. Ltd., for publishing misleading advertisements and engaging in unfair trade practices. The authority has further directed the company to discontinue such advertisements and ensure full compensation to affected consumers.

    CCPA Orders Compensation for Rapido Customers

    The consumer regulator instructed that all customers who availed the “AUTO IN 5 MIN OR GET ₹50” offer and did not receive the promised benefit must be reimbursed without any delay or conditions.

    Also Read: Uber Launches Uber Black Pickup Zone at Bengaluru Airport

    Rapido’s Advertisements Found Misleading

    CCPA’s investigation found that Rapido’s advertisements—promising “Auto in 5 min or get ₹50” and “Guaranteed Auto”—were misleading and deceptive. The disclaimers were displayed in extremely small, unreadable font, and the promised ₹50 was not given in cash but in “Rapido coins.” These coins were capped at “up to ₹50,” redeemable only for Rapido bike rides, and carried a validity of just seven days.

    The authority also observed that while the advertisements prominently assured compensation, the fine print stated the guarantee was provided by individual captains and not by Rapido itself, shifting liability away from the company.

    Rising Complaints

    Data from the National Consumer Helpline (NCH) revealed a growing number of consumer complaints against Rapido:

    • 575 complaints were recorded between April 2023 and May 2024.
    • 1,224 complaints were filed between June 2024 and July 2025.

    These complaints largely related to non-refunds, overcharging, service deficiencies, and failure to deliver on guaranteed services.

    CCPA Action Under Consumer Protection Act

    The misleading campaign was actively run for around 548 days across multiple regional languages in more than 120 cities. Given its wide reach, the CCPA, empowered under Sections 10, 20, and 21 of the Consumer Protection Act, 2019, imposed the penalty and directed Rapido to cease unfair trade practices immediately.

    Also Read: Bengaluru Metro Yellow Line Operational, Phase-3 to Serve 25 Lakh Passengers Daily

    Consumer Advisory

    The CCPA has advised consumers to exercise caution against advertisements that use terms like “guaranteed” or “assured” without clearly explaining conditions. Consumers can report misleading ads and unfair trade practices by calling the National Consumer Helpline at 1915 or using its app and website.

    Author

    • Salil Urunkar

      Salil Urunkar is a senior journalist and the editorial mind behind Sahyadri Startups. With years of experience covering Pune’s entrepreneurial rise, he’s passionate about telling the real stories of founders, disruptors, and game-changers.

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