Startup news and updates: daily roundup (June 28, 2021)

Twitter interim grievance officer for India quits amid tussle with government over new social media rules

Twitter's interim resident grievance officer for India has stepped down, leaving the micro-blogging site without a grievance official as mandated by the new IT rules to address complaints from Indian subscribers, according to a source. The source said Dharmendra Chatur, who was recently appointed as interim resident grievance officer for India by Twitter, has quit from the post.

Archery: Deepika on target, gold rush for India at World Cup Stage 3

Star archer Deepika Kumari led the show with supreme authority to grab a hat-trick of gold medals as India made an unprecedented clean sweep at the World Cup Stage 3 here on Sunday for a perfect build-up to the Tokyo Olympics in less than a month's time.

Gaana expects to reach 500M subscriber base in 3 years, turn profitable in 2 years

Music app Gaana is expecting to reach a 500 million subscriber base in the next three years with diversification on content in regional languages, independent music, and traction overseas, a top official of the company said. The company is also expecting to start making a profit in two years' time, and has a strategy to expand content and enhance its overseas customer base.

CAIT urges govt not to dilute draft ecommerce rules

Domestic traders' body CAIT on Sunday urged the government not to dilute the draft of ecommerce rules under any pressure of foreign-funded online firms. In a communication to Prime Minister Narendra Modi, the Confederation of All India Traders (CAIT) said it has been observed that voices of terming the rules as stringent is being created.

[Funding alert] Logistics startup GoBolt raises $20M in Series B led by Paragon Partners and Aavishkaar Capital

Camions Logistics Solutions Private Limited (“GoBOLT”), a technology-led, logistics player focussed on providing End-to-End (E2E) logistics solutions on Monday announced that it has raised $20 million towards its Series B round from Paragon Partners Growth Fund II (“Paragon Partners”) and existing investor Aavishkaar Capital. The round also includes small secondary components as well as debt lines from private banks.

Two-wheeler tech startup Mechanify closes pre-Seed round from angels based out of Kuwait, India, US, and Myanmar

Mechanify, a two-wheeler doorstep service startup, has closed a pre-Seed round of undisclosed funding to strengthen its technology, operations, marketing and branding. Uplifters Pvt Ltd, Gurugram, helped Mechanify to close this funding round through its angel network based out of Kuwait, India,US, and Myanmar. Uplifters is also building Mecahnify’s technology, started by Viren Thakur and Ujjwal Seth in 2019.