Startup news and updates: daily roundup (May 4, 2021)

YourStory presents this daily roundup of the latest startup news and updates from the Indian startup ecosystem and beyond. Here's the roundup for Tuesday, May 4, 2021.

Startup news and updates: daily roundup (May 4, 2021)

Tuesday May 04, 2021,

3 min Read

PM approves key decisions to boost availability of medical personnel to fight COVID-19

Seeking to augment human resources deployed in fighting COVID-19, Prime Minister Narendra Modi has approved a slew of measures, including postponing the NEET-PG for at least four months to make a large number of qualified doctors available for pandemic duty and pressing into service medical interns. All such professionals who complete 100 days of duty will be given priority in the forthcoming regular government recruitment and also honoured with the Prime Minister's Distinguished COVID National Service Samman, the PMO said.

AIIMS chief warns against going for CT scan in mild COVID cases

The AIIMS chief on Monday warned against rushing for CT scan in cases of mild COVID-19, saying it has side effects and can end up doing more harm than good. Stressing that there is no need for doing CT scans in mild COVID cases, AIIMS Director Dr Randeep Guleria at a press conference said that many people are opting for the test the moment they find out they are positive for COVID-19 and added that misuse of CT scans and biomarkers may cause damage.

IoT platform Thingsup raises $100K from GSF Accelerator (Funding)

Pune-based iobot, parent company of low-code IoT platform Thingsup, on Tuesday announced that it had raised $100,000 from GSF Accelerator. iobot said the investment will be used to cater to the burgeoning demand for digitalising the cold chain logistics, the market for which is rapidly expanding due to the ongoing COVID-19 pandemic.

Fintech startup Nivesh raises $1.6M in pre-Series A round (Funding)

Fintech startup Nivesh has raised $1.6 million in a pre-Series A round from IAN Fund. The round also saw participation from other co-investors, including angel investors from Indian Angel Network and LV Fund, and angel investors Vir Mehta and Raghav Kapur. The Noida-based startup will use the funding to expand its product portfolio, enhance its technology by bringing in automation where customers will be suggested the right products based on the understanding of their needs, increase its team strength, and scale up its partners.

Venture capital funding

Arthya Wealth and Investments raises $1M in pre-Series A round (Funding)

Arthya Wealth and Investments, a Mumbai-based wealth management and investment advisory firm, has raised $1 million in pre-Series A funding led by family offices of industrialist Rishi Kumar Bagla (Bagla Group) and technocrat Krishen Lal Khanna (Trenton Investments). The funds will be used for strengthening operations, growing the team, and in market expansion. 

Edited by Teja Lele