Indian Startup Highlights: Daily News and Funding Alerts

Indian Startup Updates: Daily News and Funding Alerts – 2 July, 2024

upGrad Raises $34 Million in Debt Funding from EvolutionX

India’s leading EdTech unicorn, upGrad, has secured $34 million in debt funding from EvolutionX, a key investment firm for growth-stage businesses in Asia. This funding will bolster upGrad’s efforts to expand its offerings and solidify its position in the EdTech sector.

Founded by Ronnie Screwvala, Mayank Kumar, and Phalgun Kompalli in 2015, upGrad specializes in higher education and upskilling programs for working professionals and students. The new funds will drive upGrad’s growth strategy, including scaling operations, developing new products, and exploring new markets.

Opting for debt funding over equity indicates upGrad’s intention to retain operational control and avoid ownership dilution. EvolutionX’s investment underscores their confidence in upGrad’s robust revenue model and the booming demand for quality education in India.

The EdTech market in India has surged, especially due to the pandemic, pushing educational institutions and learners to online platforms. upGrad has capitalized on this trend by partnering with global universities to offer diverse courses in data science, technology, management, and law.

Competing with giants like Byju’s, Unacademy, and Vedantu, upGrad has distinguished itself with quality content and strong industry partnerships. The new funding will enhance upGrad’s tech infrastructure, expand course offerings, and improve customer acquisition strategies.

Additionally, the funds may support upGrad’s potential expansion into international markets, aligning with its vision of becoming a global EdTech leader. This investment positions upGrad to thrive in the evolving education landscape and make a significant impact on the global EdTech industry.

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Daily Indian Startup News and Funding Alert – 26 June 2024

Funding News

Novavente Bags $3M from Highbrow Securities

Novavente Private Limited, a technology sales company, has secured $3 million from Highbrow Securities. The funding will support Novavente’s expansion, enhancing its offerings and boosting its workforce. Founded in 2016, Novavente specializes in global sales enablement and demand generation, serving Fortune 500 companies and startups across various regions.

Morphing Machines Raises $2.76M Seed Funding

Fabless semiconductor startup Morphing Machines has raised $2.76 million in seed funding led by Speciale Invest, with participation from IvyCap Ventures, Golden Sparrow, Navam Capital, CIIE Initiatives, and DeVC. The funds will accelerate product development, expand the engineering team, and support go-to-market initiatives. Founded in 2006, Morphing Machines is pioneering runtime reconfigurable dataflow processors.

O hi Secures $1M Pre-Series A Funding

Social networking app O hi has secured $1 million in a pre-Series A round led by JIIF and several marquee angel investors. The funds will be used to strengthen the product and integrate an AI-based profiling system. Launched in 2021, O hi focuses on real-life human interaction by creating digital rooms in cafés, airports, and hotels.

Other News

Gupshup Launches Conversational Buyer App for ONDC

Conversational messaging platform Gupshup has launched a WhatsApp-based buyer app on the ONDC network. The app allows users to discover, browse, and buy products from sellers on the ONDC network without needing to download another app. Initially, the app will have limited availability, supporting food and beverage orders.

Unicommerce and Fabindia Partner for Ecommerce Operations

Fabindia has partnered with Unicommerce to streamline its ecommerce operations across online and offline channels. Using Unicommerce’s technology, Fabindia aims to process orders efficiently, enabling faster deliveries by allocating orders to the nearest store locations. Fabindia manages a catalogue of 175,000 items, processing orders from over 100 stores and four warehouses.

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Indian Startup Highlights: Daily News and Funding Alerts – 5 Jun, 2024

Funding News

iPiD Secures $5.3 Million in Pre-Series A Funding

Fintech startup iPiD, which specializes in payee verification and identification solutions, has raised $5.3 million in an oversubscribed pre-Series A funding round. Leading the round was Monk’s Hill Ventures, with participation from Quona Capital, QED Investors, and existing partners. The new capital will be used for product development aimed at preventing payment-related fraud and expanding iPiD’s presence in strategic markets, particularly in Asia and Europe.

“This investment empowers us to tackle the pressing challenges in the payment industry—enhancing security and simplifying compliance,” said Damien Dugauquier, CEO and Founder of iPiD. “By advancing our validation technologies, we’re not just responding to regulatory demands; we’re actively enhancing trust and efficiency in global payment ecosystems that are increasingly targeted by fraudsters.”

iPiD’s flagship product, Validate, verifies payee names and account details to combat fraud and enhance customer experience. The company serves customers across six continents, covering over 2.8 billion accounts and 6,000 banks.

Aegeus Tech Raises Debt Round from Caspian Debt

Aegeus Technologies, a provider of IoT-driven green robotics solutions, has raised an undisclosed amount of venture debt from Caspian Debt. The funds will be used for working capital and expansion. Founded in 2017 by Suraj Vernekar and Nishith Shah, Aegeus focuses on leveraging robotics, AI, and ML to revolutionize the operation and maintenance (O&M) of solar plants. Its flagship product, Intelligent Waterless Solar Panel Cleaning Robots, is installed in over 8GW solar plants across India, enhancing efficiency and returns on investments by eliminating the need for water and manual cleaning efforts.

Other Startup News

Qlik Launches Talend Cloud and Answers to Accelerate AI Adoption

Qlik announced the launch of Qlik Talend Cloud and Qlik Answers at Qlik Connect 2024, aiming to eliminate barriers to enterprise AI adoption. “Qlik is accelerating AI’s business value with these launches,” said Mike Capone, CEO of Qlik. “Our innovations position us to meet market opportunities for end-to-end, technology-agnostic AI solutions.”

Qlik Talend Cloud offers no-code to pro-code AI-augmented data integration, ensuring data quality and governance. Qlik Answers, an AI-powered knowledge assistant, provides reliable, explainable insights from unstructured data. These solutions are designed to enhance data integration and leverage AI, promoting competitive advantage.

Zomato to Partner with EV Companies to Go Fully Electric by 2030

Foodtech company Zomato aims to achieve a fully electric delivery fleet by 2030 through partnerships with over 70 electric vehicle (EV) rental companies and OEMs. The initiative also includes onboarding EV-based logistics providers and supporting EV bike ownership through financial collaborations.

“Sustainability is at the core of Zomato’s business, underscored by our commitment to 100% EV-based deliveries by 2030,” said Anjali Ravi Kumar, Zomato’s Chief Sustainability Officer. “Given that over 90% of our emissions arise from last-mile deliveries, the transition to EV-based deliveries is critical for our Net Zero target by 2033.”

E-Fill Electric and DevvStream Partner to Generate Carbon Credits

E-Fill Electric has partnered with DevvStream to generate carbon credits from its EV charging network in India through the Electric Vehicle Charging Carbon Offset Program (EVCCOP). “With India prioritizing the adoption and growth of domestic EV manufacturing, there is a significant need for expanded EV charging infrastructure,” said Sunny Trinh, CEO of DevvStream. “DevvStream’s EVCCOP will allow E-Fill Electric to create a lucrative new revenue stream from its existing EV charging network through the generation of high-value carbon credits.”

The program generates and sells carbon credits when EVs are charged, benefiting charge point operators and mobility service providers.

Varun Reddy Sevva Appointed GD Goenka Group CHRO

GD Goenka Group has appointed Varun Reddy Sevva as its new Chief Human Resources Officer (CHRO). Sevva, an alumnus of IIM Lucknow, brings over 14 years of diverse industry experience in talent management, HR operations, and organizational development, with successful stints at Samsung Electronics and Apollo Tyres.

“I am honored to be part of this prominent organization that has redefined education in the country,” said Sevva. “I am confident that my experience and skills will contribute to the continued success of the group with growth-oriented and employee-centric HR practices.”

Indian Startup Highlights: Daily News and Funding Alerts – 31 May, 2024

Funding News:

1. Scaler Invests Rs 50 Cr in Scaler School of Business:
Scaler, an educational provider in India, has allocated Rs 50 crore towards the expansion of its newly launched Scaler School of Business (SSB). These funds will facilitate the development of offline infrastructure, curriculum enhancement, industry partnerships establishment, and the recruitment of top-tier professionals as coaches, mentors, and instructors. Moreover, the Scaler Innovation Lab, located on campus, will be accessible to SSB students, providing them with opportunities to develop and showcase prototypes, products, apps, MVPs, and more.

2. Volt Money Partners with PhonePe for Loans Against Mutual Funds:
Volt Money, a platform offering instant secured loans against mutual funds, has entered into a partnership with PhonePe. Through this collaboration, PhonePe’s user base of over 535 million can now access digital, low-interest loans against their mutual fund investments. This integration will embed Volt Money’s seamless loan services into the PhonePe mobile application, enabling users to conveniently leverage their mutual fund holdings for financial support.

Other Startup News:

1. Cashaa Founder Kumar Gaurav Steps Down as CEO:
Kumar Gaurav, the Founder and CEO of Cashaa—a pioneering neo-bank in crypto businesses, has announced his resignation from the CEO position. Under his guidance, Cashaa evolved from a Bitcoin startup to a significant player in the banking sector catering to crypto and high-risk ventures. This decision aligns with Cashaa’s strategic shift towards introducing alternatives to traditional banking services, aiming to foster global crypto adoption. Amjad Raza Khan, formerly the Chief Technology Officer (CTO), has been appointed as the new CEO, as the company embarks on a corporate restructuring journey to launch its global Cashaa account.

2. Skechers Signs Footballer Sunil Chhetri as Brand Ambassador:
Skechers, a renowned lifestyle and performance footwear brand, has enlisted Sunil Chhetri, the captain of the Indian National Football Team, as its brand ambassador. Chhetri will represent Skechers as a forward, donning Skechers football boots and participating in marketing campaigns. Expressing his enthusiasm for the collaboration, Chhetri praised Skechers for its commitment to innovation and excellence in sports. With this partnership, Skechers aims to empower individuals to unlock their full potential both on and off the field, contributing to the growth of sports in the country.

3. The Man Company Achieves Rs 185 Cr Revenue in FY24:
The Man Company, a leading men’s grooming brand, has reported a revenue of Rs 185 crore for the fiscal year ending March 2024. Notably, approximately 70% of the revenue was generated through ecommerce channels, including major online marketplaces and the brand’s official website. The company’s robust financial performance reflects a compounded annual growth rate of 55% since its inception. Additionally, The Man Company marked a significant EBITDA of 7.7% (Rs 14+ crore) for FY24, reaffirming its position as a key player in the men’s grooming industry. With cumulative external funding of nearly Rs 75 crore, including strategic investment from Emami Ltd, the company has surpassed Rs 500 crore in cumulative revenue.

4. Bata India Appoints Deepika Deepti as Head of Marketing:
Bata India, a prominent footwear brand, has named Deepika Deepti as its Head of Marketing. With over two decades of experience in marketing and business roles at renowned brands, including Adidas and CAMP SMA, Deepti brings extensive knowledge of the Indian and international retail industry to her new position. Recognized for her contributions to nurturing the sneaker culture in India, Deepti is poised to lead Bata India’s marketing initiatives, steering the brand towards new heights in the fashion and lifestyle sector. Prior to joining Bata India, she served as the Senior Vice President of Marketing at Metro Brands Ltd.

5. TheCafePrinter Launches Evebot Coffee and Food Printers at Palm Expo 2024:
TheCafePrinter, a division of MJ Innovation Automations India Pvt Ltd, has unveiled its latest innovation, the Evebot coffee and food printers, at Palm Expo 2024. Priced starting at Rs 31,000, inclusive of GST, these printers offer cafes, bars, bakeries, restaurants, and catering services a unique opportunity to elevate their offerings and stand out in a competitive market. With a one-year warranty, the Evebot Coffee Printer enables users to print intricate designs, logos, and personalized messages directly onto beverage foam, while the Evebot Food Printer allows chefs and food businesses to adorn various edible surfaces, including cookies, cakes, bread, and savory dishes, with designs.

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Indian Startup Highlights: Daily News and Funding Alerts – 30 May, 2024

Funding News:

1. TechEagle Completes Bridge Round Led by Navam Capital, Inflection Point Ventures, and Paytm Founder: TechEagle, a leading drone-logistics startup specializing in on-demand delivery services, has successfully concluded its bridge round of funding. Navam Capital and Inflection Point Ventures(IPV) co-led the round, with significant participation from PaytmFounder Vijay Shekhar Sharma’s wholly-owned company. Other contributors include Venture Catalysts and a group of high-net-worth individuals. The funds will further bolster TechEagle’s innovative Vertiplane X3, known for its remarkable 100 km range per flight, 5 kg payload capacity, and impressive speed of 120 km/h. With clients including AIIMS institutes, State Governments, and the World Bank, TechEagle continues to revolutionize drone-based logistics solutions.
2. Logistiex Secures $250,000 Bridge Round Led by PACE Family Office and Angel Investors: Logistiex, a pioneering e-commerce startup, has raised $250,000 in a bridge round led by PACE Family Office, with participation from angel investors, including Siddhant Khemka. Founded in 2023 by Sarvartha Kanchan and Vineet Agarwal, Logistiex offers a unified platform for Indian e-commerce sellers, simplifying management through its Logistiex Universal Platform. The infusion of funds will fuel product development efforts and expand Logistiex’s tech team, further enhancing its position in the competitive e-commerce landscape.
3. Jaipur Watch Company Secures Rs 2 Cr Investment for Expansion: Jaipur Watch Company, renowned for its craftsmanship in luxury timepieces, has secured Rs 2 crore ($20 million) in funding from investors Nirav Jogani of Lemon Funds and Jignesh Shah of Dev Diamonds and Lucky Jewellery. The investment will support the establishment of a specialized gold watch manufacturing unit, diversification of product offerings, enhanced marketing initiatives, and technological advancements. With a commitment to excellence and heritage, Jaipur Watch Company aims to elevate its presence in the luxury watch market.
4. Gramiyaa Raises Rs 9.5 Cr to Drive Expansion in India and US: Gramiyaa, a leading manufacturer of cold-pressed oils, has secured Rs 9.5 crore in funding from UAE’s Homegrown Ventures, Mumbai Angels, and Campus Fund. Founded in 2017 by Sibi Manivannan, Gramiyaa has evolved into a vertically integrated brand, leveraging technology and innovative distribution models. The investment will fuel Gramiyaa’s expansion efforts in both the Indian and US markets, further solidifying its position as a pioneer in the health and wellness industry.

Other Startup News:

1. Delhivery Emerges as Top 3PL Partner for Early-Stage D2C Brands: Logistics powerhouse Delhivery has been recognized as the preferred partner for early-stage direct-to-consumer (D2C) brands, according to a report by Redseer Strategy Consultants. The report underscores the pivotal role of third-party logistics (3PL) providers in driving the rapid growth of India’s D2C market. Delhivery’s comprehensive logistics solutions, including real-time tracking and seamless integration, position it as a crucial enabler for burgeoning D2C brands, amid the exponential rise in online retail.
2. Quantum Energy Collaborates with Green Drive Mobility for EV Adoption: EV Original Equipment Manufacturer (OEM) Quantum Energy has forged a strategic partnership with Green Drive Mobility to accelerate the adoption of electric vehicles (EVs) for last-mile delivery and connectivity services. Under the memorandum of understanding (MoU), Quantum Energy will supply 5,000 units of its EV 2W, Bziness, tailored for last-mile delivery fleets. This collaboration signifies a concerted effort towards sustainable mobility solutions, aligning with India’s thrust towards electric mobility.
3. IDEMIA Secure Transactions and IIT Hyderabad Partner on Post-Quantum Cryptography: IDEMIA Secure Transactions (IST) has teamed up with the Indian Institute of Technology, Hyderabad (IIT Hyderabad), to advance post-quantum cryptography. This collaboration aims to enhance privacy frameworks against quantum threats by developing cutting-edge cryptography solutions. By funding PhD scholars for a four-year duration, IST underscores its commitment to fostering innovation and safeguarding digital security in an increasingly complex landscape.
4. LaunchPilot Expands Operations in India to Support Entrepreneurship: Singapore-based startup school LaunchPilot has initiated its operations in India, aiming to empower first-time entrepreneurs and working professionals. LaunchPilot offers comprehensive support, including mentorship and access to investors, fostering a conducive ecosystem for entrepreneurial growth. With partnerships established with academic institutions and communities, LaunchPilot seeks to nurture the next generation of Indian entrepreneurs, driving innovation and economic development.
5. Corning Inaugurates Digital and IT Centre in Pune to Fuel Growth: American multinational Corning has inaugurated its new digital and IT centre, a global capability center (GCC), in Pune, Maharashtra. This initiative aims to harness local digital talent to propel the company’s growth trajectory. The centre, situated near Corning’s existing research facility, will create approximately 100 new jobs over the next two years, focusing on areas such as supply chain, data analytics, and cybersecurity. This investment underscores Corning’s commitment to leveraging digital capabilities for sustained innovation and competitiveness.

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Indian Startup Highlights: Daily News and Funding Alerts – 29 May, 2024

Funding News:

EcoRatings Secures $1M Pre-Seed Funding:
EcoRatings, a sustainability AI company, has successfully secured $1 million in pre-seed funding from a consortium of investors. Among them are We Founder Circle, 888 VC, Vinners, Indigram Labs Foundation, and Google, who have contributed a mix of equity and grant. Co-founder Aditi Balbir expressed the company’s intention to utilize the investment to enhance its large language model tailored for the sustainability domain. Founded in 2023, EcoRatings focuses on developing a Gen AI-powered platform dedicated to creating a Unified Knowledge Platform for ESG (Environmental, Social, and Governance) requirements. The platform aids organizations in achieving sector-focused goals in ESG by analyzing vast datasets and providing real-time insights.

Nanosafe Raises Rs 3.13 Cr in Seed Funding Round:
Material science technology startup Nanosafe has secured Rs 3.13 crore in a seed funding round led by the IAN Group, along with participation from IIM Lucknow Enterprise Incubation Centre (IIML EIC). Notable contributions came from investors such as Uday Chatterjee, Sandhya Vasudevan, Tejinderpal Singh Miglani, and Romesh Sobti. The funding will fuel Nanosafe’s expansion into new markets, supporting its mission to address critical hygiene and safety needs in water contact and textile healthcare and apparel applications through its formulations utilizing active copper.

Other Startup News:

mPokket Appoints Sanjay Kar as SVP of Data and Analytics:
Digital lending platform mPokket has appointed Sanjay Kar as its Senior Vice President of Data and Analytics. Kar, with over 16 years of experience in the banking domain, will lead the development and deployment of advanced analytics tools and data systems. His responsibilities include managing risk effectively, enhancing operational efficiency, and driving quality business growth for mPokket.

Cashaa Promotes CTO Amjad Raza Khan as CEO:
Neobank for crypto businesses, Cashaa, has appointed its Chief Technology Officer Amjad Raza Khan as its new Chief Executive Officer. The move comes as Cashaa shifts its business model to focus on introducing an all-in-one wallet, discontinuing banking services for crypto and other high-risk businesses. Khan’s immediate plans include rolling out Cashaa’s wallet service with AI-driven earn and borrow programmes across multiple markets.

Eloelo Appoints Sagar Gaonkar as Chief Technology Officer:
Live social media platform Eloelo has named Sagar Gaonkar as its Chief Technology Officer. With extensive expertise in video streaming and OTT technology, Gaonkar will drive innovation and technological strategy at Eloelo. The platform, serving over 75 million users in India, aims to further expand its reach under Gaonkar’s leadership.

Razorpay POS Announces Q-Zap Payment Solution:
Razorpay POS has introduced ‘Q-Zap’, a payment solution designed to expedite checkouts for retailers. By integrating self-checkout kiosks or handheld POS devices with Q-Zap, retailers can reduce billing time and operational costs significantly. The solution supports various payment methods, including UPI and credit/debit cards, across all major networks.

GatewAI Launches AI-Powered Solutions:
Tech-enabled service solution startup GatewAI has unveiled AI-powered solutions to establish talent, technology, and innovation hubs in India for large corporates and MNCs. Targeting mid-to-small-size companies across industries, GatewAI aims to foster collaborative ecosystems to facilitate multinational corporations’ growth in India’s market.

Aditya Birla Group’s TMRW Partners with Google Cloud:
TMRW, under the Aditya Birla Group, has partnered with Google Cloud to enable users to create custom designs on t-shirts via Generative AI. The collaboration aims to enhance user engagement and personalization on Bewakoof.com. Through Google’s Generative AI solutions, Bewakoof can offer unique design experiences to its customers.

Amazon India Announces ML Summer School Registration:
Amazon India has revealed the registration dates for the fourth edition of Machine Learning (ML) Summer School. The programme aims to equip engineering students with essential ML skills through immersive learning sessions conducted by Amazon scientists. Eligible students can register between May 31 and June 21, 2024.

HostBooks Introduces MFG 360° Solution:
HostBooks has launched MFG 360°, a comprehensive solution aimed at transforming the manufacturing sector. MFG 360° automates various aspects of production, including financial management, operations optimization, and supply chain management, to streamline manufacturing processes effectively.

Sleepwell, Kurlon Partner with Unicommerce for Ecommerce Ops:
Mattress manufacturers Sleepwell and Kurlon have collaborated with Unicommerce to enhance their ecommerce operations. Utilizing Unicommerce’s multichannel order management and warehouse inventory systems, Sleepwell and Kurlon aim to automate order processing and streamline warehouse operations.

iThink Logistics Unveils Weight Discrepancy Management Dashboard:
iThink Logistics has launched a weight discrepancy management dashboard to assist ecommerce sellers in managing weight mismatches effectively. The tool offers instant notifications of weight discrepancies, facilitating immediate resolution during billing and enhancing operational efficiency for ecommerce sellers.

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Indian Startup Highlights: Daily News and Funding Alerts – 28 May, 2024

Funding News:

Solinas Secures Undisclosed Funding for Water and Sanitation Robotic Solutions:

Solinas, a startup specializing in water and sanitation-focused robotic solutions, has secured undisclosed funding from Neev II Fund, managed by SBICAP Ventures Ltd. The investment also includes capital from Zerodha Founders investment arm, Rainmatter Capital. Established in 2018, Solinas aims to address challenges such as pipeline defect detection and manual scavenging elimination using robotic and AI solutions. The funding will be utilized to expand product range, market presence, and strengthen water and sanitation infrastructure resilience.

Inspeq AI Raises $1.1 Million in Pre-Series A Round:

Responsible AI development platform, Inspeq AI, has raised $1.1 million in a pre-Series A investment round led by Sure Valley Ventures. Delta Partners, Plug and Play, along with several angel investors, including Prateek Dixit and Rick Kelly, participated in the round. Founded in 2023 in Dublin, Ireland, Inspeq AI plans to utilize the funds to expand its product development team and extend marketing and sales operations in India, Ireland, and the UK.

Gravity Raises $1 Million in Pre-Series A Round:

Personalized banking platform, Gravity, has raised $1 million in a pre-Series A funding round led by Kettleborough VC and other investors from the banking industry. Founded in 2024 by former bankers Satish Krishnaswamy and Rohit Maroo, Gravity aims to enhance banking application interoperability, simplifying the tech ecosystem and offering customized products. The funding will be directed towards further tech development.

Maxvolt Energy Secures $1.5 Million for Fast-Charging Batteries:

Lithium battery manufacturer, Maxvolt Energy, has raised $1.5 million in funding from multiple angel investors. The company plans to utilize the funds for developing fast-charging batteries. Maxvolt Energy aims to launch the final product by the end of 2024 after thorough R&D, with an initial focus on reducing charging time to two hours in the prototype phase.

AbleCredit Raises Seed Funding of $1.25 Million:

AI credit underwriting company, AbleCredit, has raised $1.25 million in a funding round led by Merak Ventures. Venture Catalysts and Helios Holdings also participated in the round. Founded by Utkarsh Apoorva, Harshad Saykhedkar, Ashwini Prabhu, and Anubhab Bandyopadhyay, AbleCredit aims to scale its AI operations and grow its business to transform credit underwriting with recent advancements in AI technology.

Other Startup News:

InCred Appoints Vikram Agarwal as COO:

Financial services company, InCred, has appointed Vikram Agarwal as its Chief Operating Officer. Agarwal brings over 25 years of experience, including leadership roles at Julius Baer India. In his new role, Agarwal will oversee critical functions at InCred Capital, including technology, operations, client servicing, compliance, and risk management.

Paytm Insider Names Varun Khare as New COO:

Entertainment platform, Paytm Insider, has named Varun Khare as its new Chief Operating Officer. Khare, with four years of experience at the company, will lead operational strategies to drive growth and innovation across the business. Prior to joining Paytm Insider, Khare worked in the live events and entertainment industry.

WinZO Partners with DPIIT to Sponsor Gaming Startups for Gamescom, LatAm:

WinZO and DPIIT have partnered to select and sponsor gaming startups from India to represent the country at Gamescom, Latam. The initiative aims to provide a global platform for Indian gaming startups to showcase their creativity and technological prowess.

Ecom Express and Skye Air Partner for Drone Delivery Technology:

Logistics solutions provider Ecom Express Limited and drone tech company Skye Air have partnered to integrate drone delivery technology into their last-mile delivery ecosystem. The aim is to enhance delivery speed, improve efficiency, and reduce carbon emissions.

Gamerji Expands Operations in Southeast Asia:

Esports tournament platform GamerJi has launched its operations in Southeast Asia, starting with Indonesia and the Philippines. The company aims to capitalize on the growing popularity of esports in the region by offering a diverse range of gaming titles.

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Indian Startup Highlights: Daily News and Funding Alerts – 27 May, 2024

• CoverSure Funding: CoverSure, an InsurTech startup, secured $4 million in a pre-series A funding round led by Enam Holdings. The investment will fuel the development of a consumer-centric insurance engagement platform, with a focus on expanding operations in India.
• CirclePe Investment: Property tech platform CirclePe raised nearly $1 million in a pre-seed round led by OTP Ventures. The funding will support CirclePe’s innovative rental solutions, including “Smart Renting,” catering to urban tenants, landlords, and co-living operators.
• Yatra’s AI-Powered Tool: Yatra Online introduced a Generative AI-backed business expense management solution for SMEs and large enterprises. The tool aims to streamline travel expense management using artificial intelligence for receipt analysis and integrated chatbot features.
• Plum’s HR Appointment: Insurtech company Plum appointed Priya Sunil as Chief Human Resource Officer, bringing extensive talent acquisition and organizational development experience. Plum offers employee wellness and business insurance solutions to over 4000 companies.
• Recyclekaro’s EPR Registration: Recyclekaro, a lithium-ion battery recycling company, registered on the government’s Extended Producer Responsibility (EPR) portal for e-waste recycling. This aligns with the company’s commitment to sustainable waste management.
• IIT Guwahati’s MOUs: IIT Guwahati formalized two Memoranda of Understanding (MoUs) to foster innovation and startup growth in Northeast India, partnering with Assam Startup and FICCI to support entrepreneurship and technological innovation in various sectors.
• Sebamed’s New Leadership: Skincare brand Sebamed appointed Philip Kuncheria as Senior Vice President and Country Head for India. Kuncheria brings extensive industry experience to oversee operations and drive strategic initiatives in India.
• Zomato’s Compliance Awareness: Zomato conducted awareness campaigns among its delivery partners in New Delhi to comply with the city’s Motor Vehicle Aggregator and Delivery Service Provider Scheme, 2023, ensuring full disclosure compliance with vehicle-related requirements.
• Glance and Star Sports Contest Success: Glance Smart Lock Screen and Star Sports Network reported participation from 50 million people across India in the ‘Star Nahi Far’ contest, engaging cricket enthusiasts with questions related to popular cricketers and reflecting Glance’s growing popularity during cricket tournaments.

CoverSure Secures $4M in Pre-Series A Funding led by Enam Holdings

On Monday, InsurTech startup CoverSure announced a successful raise of $4 million in a pre-series A funding round. The investment was spearheaded by Enam Holdings. CoverSure, established in January 2023, aims to utilize these funds to develop a consumer-centric insurance engagement platform. The expansion plans include a significant focus on the Indian market, facilitated by Enam Holdings’ strategic investment. CoverSure’s platform streamlines all customer insurance needs, offering personalized advisory services and innovative insurance solutions.

CirclePe Raises $1M in Pre-Seed Round led by OTP Ventures

Property tech platform CirclePe secured close to $1 million in a pre-seed funding round, led by OTP Ventures. The round also witnessed participation from notable investors such as 1947 Rise, iSeed, IIT Delhi, Venture Catalyst, and founders/CXOs from leading companies like OfBusiness, BharatPe, Uni Cards, and OYO. CirclePe specializes in fintech solutions for urban tenants, landlords, and co-living operators, providing innovative rental solutions like “Smart Renting,” enabling tenants to move in without security deposits.

Yatra Launches AI-Powered Travel Expense Management Tool

Yatra Online introduced a Generative AI-backed business expense management solution for SMEs and large enterprises. The tool, powered by artificial intelligence, aims to streamline travel expense management for over 800 crores. It utilizes Large Language Models (LLMs) for receipt analysis, enhancing accuracy, reducing errors, and operational time. The platform features an integrated chatbot for seamless expense tracking and analysis, catering to end-to-end travel solutions within a single platform.

Plum Appoints Priya Sunil as Chief Human Resource Officer

Insurtech company Plum appointed Priya Sunil as Chief Human Resource Officer. With a Master’s degree in Applied Social Psychology and 17 years of talent acquisition and organizational development experience, Sunil brings a wealth of expertise to Plum. Plum offers employee wellness and business insurance solutions to over 4000 companies, backed by prominent investors like Tiger Global and Peak XV Partners.

Recyclekaro Registers on Government’s EPR Portal for E-Waste Recycling

Recyclekaro, a lithium-ion battery recycling company, registered on the government’s Extended Producer Responsibility (EPR) portal for e-waste recycling. This move aligns with the company’s commitment to sustainable waste management. The EPR Portal, initiated by the Central Pollution Control Board (CPCB), offers a transparent framework for electronic waste management, connecting manufacturers with registered recyclers and providing financial incentives for sustainable practices.

IIT Guwahati Signs MOUs to Foster Startup Ecosystem in Northeast India

Indian Institute of Technology Guwahati formalized two Memoranda of Understanding (MoUs) to promote innovation and startup growth in Northeast India. The agreements aim to support entrepreneurship and technological innovation in the region through collaborative initiatives with Assam Startup and the Federation of Indian Chambers of Commerce & Industry (FICCI). The partnerships entail mentoring, technological support, and frameworks to foster entrepreneurship in sectors like agriculture, women development, and sustainability.

Sebamed Appoints Philip Kuncheria as India Head

Skincare brand Sebamed appointed Philip Kuncheria as Senior Vice President and Country Head for India. Kuncheria brings extensive experience from his tenure with industry giants like 3M, Kraft Heinz, and Fractal Analytics. In his new role, Kuncheria will oversee operations, drive strategic initiatives, and expand Sebamed’s market presence in India.

Zomato Conducts Awareness Campaigns to Comply with Delhi’s Guidelines

Zomato conducted awareness drives among its delivery partners in New Delhi to comply with the city’s Motor Vehicle Aggregator and Delivery Service Provider Scheme, 2023. The initiative aims to ensure full disclosure compliance with the scheme’s requirements, which mandate the declaration of all vehicles associated with cab aggregators, delivery service providers, and ecommerce entities operating in Delhi.

Glance and Star Sports Report Successful Turnout in ‘Star Nahi Far’ Contest

Star Sports Network and Glance Smart Lock Screen reported participation from 50 million people across India in the ‘Star Nahi Far’ contest. The contest, part of Star Sports’ flagship campaign, engaged participants by posing questions related to popular cricketers. Glance witnessed significant user engagement during cricket tournaments, reflecting the platform’s growing popularity among cricket enthusiasts nationwide.

These developments underscore the dynamic landscape of startups, investments, and industry initiatives driving innovation and growth across various sectors. Stay tuned for more updates on the vibrant startup ecosystem.