PharmEasy Founder's New Bet, Finance Ministry’s ULI, and Meta Launches Gaming Accelerator

The PharmEasy founders are back with a new startup, but with no website and little public information, we had to do some digging and piece the story together. After stepping down from their roles earlier this year, Dharmil Sheth, Dhaval Shah, and Hardik Dedhia are now building All Home, a home improvement startup that aims to modernize India’s interior design supply chain.

The business is operating in a segment worth over $60 billion. It’s highly fragmented and full of inefficiencies, from procurement delays to lack of transparency and poor after-sales service. All Home is not doing full-stack renovation like Livspace or HomeLane. Instead, they are trying to enable the ecosystem: designers, architects, and brands.

They’ve already signed up three brands - Colour Coats, House of W, and Fiamarc. The company says it has achieved operational profitability in stealth mode over six months. That’s a bold claim, especially for a business that’s yet to fully launch its product.

Investors also seem convinced. Bessemer Venture Partners, which backed PharmEasy early, is leading the funding. Other investors include Siddharth Shah (PharmEasy’s CEO), Kabir Narang (B Capital), Niket Shah and Shalibhadra Shah (Motilal Oswal), and Ankur Gulati (Warburg Pincus). The valuation is already $120 million, with roughly $20 million raised through a mix of equity and debt.

The valuation seems high at first sight but it is a bet on the founders that have built a unicorn before. They’ve also seen what happens when capital is deployed without tight control over unit economics. PharmEasy’s delayed IPO and valuation drop have taught them hard lessons. The bet this time is clear: an asset-light model, better margins, and fewer moving parts.

The core offering is a digital platform that helps designers discover curated brands, plan projects using AR tools, and manage procurement through one dashboard. For brands, All Home promises lower distribution costs and reach into the fragmented designer market. For designers, it simplifies vendor coordination and reduces execution risks.

The revenue comes from platform commissions and possibly SaaS-style subscriptions. Because they don’t own inventory or factories, they claim to have high contribution margin of 42%, compared to the 25–28% industry average. Their LTV-to-CAC projections of over 5x looks ambitious, and will need validation as they scale beyond the pilot phase.

Livspace and HomeLane are serious competitors. They are well-funded and already integrated across design, supply, and execution. Local contractors still dominate the mass market, while premium designers rely on their own vendor networks. So All Home’s sweet spot lies in the middle: tech-savvy independent designers and upwardly mobile homeowners who want quality but don’t want to overpay.

Competitors can also build similar platforms. But the bet here is that All Home can build a strong network effect before that happens, by becoming the default procurement and project planning tool for independent designers.

Still, questions remain. Is the valuation justified with only three brand partnerships and limited market visibility? Will brands stick once the initial momentum fades? Can All Home scale without having to burn cash on customer acquisition?

This isn't a story of founders starting again. It’s about trying to do it better the second time with leaner economics, fewer dependencies, and a focus on enabling others instead of controlling everything. If they can pull it off, All Home could quietly become one of India’s most interesting startups in the home infrastructure space.

Let’s go through what else is happening in Indian startup world. Grab your simmering cup of StartupChai.in and unwind with our hand-brewed memes.

“Rishta Wahi, Soch Nayi”: Finance Ministry Holds Meet On Scaling Up Unified Lending Interface

The Finance Ministry just huddled up to brainstorm scaling the Unified Lending Interface (ULI) - India’s next big leap in digital credit access.

Think of ULI as the UPI of lending: one seamless platform to get loans faster, smarter, and more transparently. Still in testing, but once launched, it could rewrite the credit game for millions.

Read more here

“Hum Saath Saath Hai”: Incuspaze Acquires TRIOS To Strengthen Presence In Pune

Incuspaze just snapped up Pune-based coworking rival TRIOS in a cash-and-stock deal to tighten its grip on the city’s flexible workspace scene.

With IPO dreams on the horizon, this move is all about boosting revenue and expanding real estate reach. The goal is to cool ₹350-400 crore in operating revenue by FY26.

Read more here

“It’s The Time To Disco”: Meta Launches Gaming Accelerator In India With Top VCs

Meta just hit play on its Gaming Accelerator in India, teaming up with top VCs like Bitkraft and Kalaari to level up local game studios.

Over the next three months, 20–30 small and mid-sized developers will get mentorship, strategic support, and a boost from Meta’s AI tools like Llama. It’s game on for the next generation of Indian gaming talent.

Read more here

1. EV ride-hailing startup Evera has raised $4 Mn from Mufin Green Finance to supercharge its electric fleet. The Delhi NCR-based company has already snapped up 220 EVs from BluSmart and eyes up to 1,000 more.
   Read more here

2. Surat-based textile startup Fantail has raised ₹13.75 Cr in seed funding from Riverwalk, Incubate Fund Asia, and All in Capital. The funds will go toward modernising machinery across its partner weavers, mills, and processors.
   Read more here

3. GoKwik has raised $13 Mn in a round led by RTP Global to supercharge its AI-driven ecommerce enablement stack. With backing from Peak XV and others, the startup also plans to accelerate its global expansion.
   Read more here

4. Deeptech startup Fabheads has raised $10 Mn in a Series A round led by Accel to scale its automated composites manufacturing. The fresh funds will fuel capacity expansion, R&D, and leadership hires as it deepens its tech footprint.
   Read more here

5. Chennai-based skilling platform Kruu has raised ₹1 Cr in a bridge round, taking its total funding to $1.25 Mn. Now revenue-positive, Kruu is redefining project-based learning for students across emerging economies.
   Read more here

6. Ice pops brand Skippi has raised ₹12 Cr in an extended pre-Series A round, with ₹10 Cr coming from Dubai-based family offices of Mr. Surya. The funds will help the startup chill deeper into the frozen treats market.
   Read more here