Startup news and updates: daily roundup (May 18, 2021)

Elon Musk loses world’s second-richest ranking as Tesla dips

Tesla CEO and SpaceX founder lost his spot as the world’s second-richest person to LVMH (Louis Vuitton) Chairman Bernard Arnault as Tesla Inc's shares fell 2.2 percent. That was on top of last week’s slump amid a global rout in technology stocks and fresh signs of trouble in its China business.

Musk is now the third-richest man in the world, after Amazon's Jeff Bezos, and Bernard Arnault. Elon Musk's overall wealth now stands at $160.6 billion, as per the Bloomberg Billionaires Index.

Affable AI raises $2M led by Prime VP, Decacorn Capital, SGInnovate (Funding)

Affable.ai, the Singapore-based martech startup, has raised $2 million from Prime Venture Partners, Decacorn Capital, and SGInnovate. With the fresh funding, Affable plans to expand into international markets such as the US.

Extracurricular learning platform Spark Studio raises seed round from Better Capital (Funding)

Bengaluru-based extracurricular edtech startup Spark Studio has raised its first round of investment from Better Capital. The startup will invest in building a strong team to develop the tech platform to deliver a superlative experience and to develop a best-in-class curriculum and content.

Grofers steps up sustainability efforts; aims at recycling plastic wastage

Online grocery ordering platform Grofers is exploring opportunities to get sustainability-conscious customers to start donating Rs 1-2 towards recycling plastic wastage in the packaging of food products.

The company has stepped up its sustainability efforts and is undertaking a series of steps, including deploying electric vehicles and using biodegradable packaging for deliveries, it said in a blog post.

Google launches News Showcase in India with 30 publishers

Google on Tuesday announced the launch of its News Showcase product in India with 30 publishers, including national, regional and local news organisations.

These include The Hindu Group, HT Digital Streams Ltd, Indian Express Group, ABP LIVE, India TV, NDTV, Zee News, Amar Ujala, Deccan Herald, Punjab Kesari, The Telegraph India, IANS (Indo Asian News Service), ANI, and many more.

DB Schenker partners with NGO for setting up an oxygen plant in Delhi hospital

Integrated logistics services provider DB Schenker has taken a slew of initiatives including partnering with an NGO for setting up an oxygen plant in a Delhi hospital to support COVID relief efforts. The company has also rolled out various employee-centric initiatives amid the coronavirus pandemic.

BIN-19's device to collect used face masks comes in handy amidst COVID-19

Eleven months after a firm backed by the Kerala Startup Mission (KSUM) launched BIN-19 — the medical device that enables the collection of used face masks — is proving useful in the healthcare sector fighting the second wave of COVID-19. KSUM said VST Mobility Solutions' BIN-19 has been successfully installed in all the district administration offices of the state with CSR funds.

COVID: Bajaj Finserv launches assistance programme for families of deceased employees

Bajaj Finserv, the holding company for the financial services business of Bajaj Group, on Monday announced a new comprehensive family assistance programme to extend support and financial assistance to families of employees who have passed away due to the COVID pandemic.