May 13, 2025, marked a dynamic day in the startup ecosystem, with major developments across funding, leadership changes, and strategic expansions. Among the highlights, mixed reality startup Flam secured a significant funding round, Moneyview advanced toward its public listing, and a reshuffle at Flipkart signaled key transitions in leadership. This article provides a detailed overview of the top startup stories that unfolded on May 13, 2025.
Flam Raises $14 Million to Expand in the US Market
Flam, a rising player in the mixed reality space, announced a $14 million (approximately INR 119 crore) Series A funding round. RTP Global led the round, with participation from Dovetail and several existing investors. With this capital injection, Flam has now raised a total of approximately $22.5 million since its inception.
Shourya Agarwal, Flam’s cofounder and CEO, emphasized the company’s clear strategic focus. “We are totally going to use these funds for scaling up in the US market,” he stated. “We are pretty good with our position in the India market at this point, as we have started monetising here almost a year back.”
The startup has already established a solid presence in India and aims to replicate that success in the United States. Flam leverages mixed reality to create immersive digital experiences, blending physical and virtual spaces. With growing interest in spatial computing and immersive content, Flam positions itself to ride the wave of innovation reshaping how users consume media and interact with brands.
Moneyview Taps Bankers for INR 3,400 Crore IPO
Moneyview, a prominent Indian fintech startup, moved closer to going public by initiating steps for its Initial Public Offering (IPO). The company began working with investment bankers to launch an INR 3,400 crore issue. This development follows a series of successful funding rounds, and industry analysts view the IPO move as a sign of maturity and confidence in the company’s growth trajectory.
Moneyview offers a suite of financial services, including personal loans, credit tracking, and financial planning tools, and it has steadily gained market share. By tapping public markets, the company aims to further scale operations, expand its lending portfolio, and solidify its brand in India’s competitive fintech space.
The timing aligns with the broader trend of Indian startups exploring public listings, reflecting investors’ growing confidence in India’s digital economy.
Groww Pays INR 34 Lakh To Settle SEBI Case
Investment platform Groww resolved a regulatory issue by settling a case with the Securities and Exchange Board of India (SEBI). The company paid a penalty of INR 34 lakh to close the matter, which involved alleged non-compliance with specific market regulations.
Although Groww didn’t release detailed comments about the case, market watchers believe that this settlement allows the startup to avoid prolonged legal entanglements. The move helps Groww maintain its reputation and focus on expansion amid intense competition in the wealth-tech industry.
Groww continues to attract retail investors with its user-friendly interface and simplified investment options, including mutual funds, stocks, and fixed-income products.
Leadership Shake-Up at Flipkart: Four Senior Executives Exit
E-commerce giant Flipkart experienced a significant shake-up as four senior executives stepped down from their roles. The leadership changes come at a critical time when Flipkart plans to bolster its e-commerce dominance and push for growth in emerging categories like groceries and electronics.
Although Flipkart hasn’t officially disclosed the reasons behind the exits, insiders suggest strategic restructuring as the core reason. The departures may also relate to new performance expectations and internal realignment following Walmart’s intensified oversight.
Leadership transitions in such large organizations often precede a new phase of innovation or operational changes. The market will closely watch how Flipkart fills these leadership gaps and whether it will affect the company’s roadmap ahead of the festive sales season.
ONDC Appoints Vibhor Jain as Acting CEO
The Open Network for Digital Commerce (ONDC) appointed Vibhor Jain as its Acting Chief Executive Officer. Jain, who previously served as the Chief Operating Officer, assumed the interim role following the departure of the former CEO. His appointment indicates the government-backed platform’s intent to ensure continuity in operations during this crucial growth phase.
ONDC plays a transformative role in India’s digital commerce space by offering a decentralized and interoperable e-commerce network. Jain’s elevation to CEO comes at a time when ONDC is working to onboard more sellers and buyers to democratize access to online marketplaces.
Jain’s experience in operational strategy and ecosystem partnerships is expected to guide ONDC’s next steps toward building a robust and inclusive e-commerce network.
Curefoods Acquires Pan-India Rights for Krispy Kreme
Cloud kitchen startup Curefoods made a major move by acquiring the pan-India rights to operate American doughnut chain Krispy Kreme. This development signals Curefoods’ intent to diversify its portfolio and deepen its presence in the consumer food segment.
Curefoods, which runs popular brands like EatFit and CakeZone, will now bring Krispy Kreme’s offerings to Indian consumers through a combination of cloud kitchens and retail outlets. The deal allows the company to leverage Krispy Kreme’s strong global brand recall and integrate it into the fast-growing Indian QSR (quick service restaurant) market.
The acquisition aligns with Curefoods’ broader strategy of expanding its physical presence while scaling digitally, marking a strong hybrid growth model.
Conclusion
May 13, 2025, offered a glimpse into the fast-evolving startup ecosystem, where funding flows, leadership changes, and regulatory resolutions shape the growth stories of tomorrow’s giants. Flam’s $14 million raise showcases investor confidence in immersive tech, while Moneyview’s IPO plans point to the next phase for Indian fintech. At the same time, Groww handled regulatory challenges swiftly, Flipkart began a new leadership chapter, and Curefoods expanded into the iconic Krispy Kreme franchise.
Each development marks a step forward in India’s innovation journey, signaling that despite challenges, startups continue to push the boundaries of technology, finance, and consumer experience.