CloudSEK has raised pre-Series A funding of Rs 3.5 crore from IDFC-Parampara. This round is part of the $2.5 million (approximately Rs 17 crore) pre-Series A funding that CloudSEK has raised so far. With this fundraise, the Artificial Intelligence (AI)-based digital risk management and cybersecurity platform provider plans to evolve its SaaS-based flagship product Xvigil, and expand its footprint in India and Southeast Asia.
7-Eleven enters India in partnership with Future Group
Kishore Biyani's Future Group has signed a master franchise agreement to launch the first store of Japanese-owned convenience chain 7-Eleven in India. The first 7-Eleven convenience store in India is expected to open in 2019. “Internationally popular products, beverages, snacks, and immediately consumable fresh foods with recipes developed for local tastes will be part of the initial convenience offering,” the Future Group said in a statement.
Yesterday, February 28, was also National Science Day, and we marked it with the release of a first-of-its-kind report on the Deep Science ecosystem in India. An Indian company is creating next-gen antibiotics to fight superbugs. Another is working to make 3D-printed corneas. A third has built a range of imaging technology inspired by the dragonfly. Those are just a few examples. There are dozens more, and startups across the country are working away quietly on similar, amazing solutions. [Download the report here]
Yulu introduces electric vehicles to tackle traffic
Bengaluru-based bike-sharing solution platform Yulu recently launched its electric scooter, Yulu Miracle. Described as micro-mobility vehicles (MMV), these are dock-less, lithium battery-powered scooter, meant for short-distance commute for one person. The plan is to introduce 250 electric scooters this week and add 250-500 more every week moving ahead, in order to tackle the mess of traffic congestion and air quality in Bengaluru.
Why Solidworks is engaging with startups early on
Solidworks, a global leader in 3D computer aided design (CAD) software, is engaged in India with close to 300 startups. It expects this number to cross 1,000 this year. Their strategy is simple: Solidworks provides its stack of software to these startups at an early stage for almost no cost for a period of 12-18 months. The idea behind this is simpler: once these startups reach a certain maturity or scale, they will be become customers for life.
Businesses are betting big on voice: Here’s why
Most founders have realised that voice is an easier way to communicate instead of touch-typing, as many Indians are only partially literate and probably read better than they can write. With this realisation, companies are not only working with voice, but also with languages. In fact, businesses are bringing in voice-based technologies as a part of their future-ready business strategies now. And it includes everything from Amazon Alexa and Google Assistant to indigenous solutions from Indian startups.