Startup news and updates: daily roundup (June 8, 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, June 8, 2021.
The mobile commerce suite platform QuickSell has raised $2 million as a part of itsr pre-Series A funding round. The round was led by InfoEdge Venture Fund and BEENEXT. This investment will primarily be used for scaling the business, team expansion, and product enhancements.
Truemeds, a Mumbai-based healthtech startup, raised $5 million in a Series A funding round from existing investor InfoEdge Ventures, Asha Impact and Indian Angel Network Fund. The firm will use the funds to develop fulfilment centres in three new cities — apart from Mumbai, build technology, and automate their supply chains, according to a press note shared by the firm.
[Funding alert] D2C home appliance brand Candes raises $3M from various marquee family offices of Delhi
Direct to Consumer (D2C) home appliance brand Candes on Monday announced that it has raised $3 million from various marquee family offices in Delhi. The round was led by Anuraag and Ruchirans Jaipuria along with Lotus Group Joint MD Nitin Passi and Redcliffe's Dheeraj Jain.
The Indian Space Research Organisation (ISRO) has developed three types of ventilators and has come forward to transfer the technology to industry for clinical usage as the country battles the second wave of the COVID-19 pandemic. A low-cost and portable critical care ventilator, PRANA ("Programmable Respiratory Assistance for the Needy Aid) is based on the automated compression of an AMBU (Artificial Manual Breathing unit) bag.
Social media giant Facebookhas named Spoorthi Priya as its grievance officer for India on its website.
The move comes in the backdrop of the new IT rules coming into effect recently that require significant social media intermediaries - those with over 50 lakh users - to appoint a grievance officer, nodal officer, and a chief compliance officer. These personnel are required to be residing in India.
Prime Minister Narendra Modi on Monday announced that the government will distribute free foodgrains to around 80 crore people till Diwali for providing relief to the poor amid the second wave of COVID-19.
In April, the Centre had announced the distribution of free foodgrains for the months of May and June under the Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY).
Global pharma major Pfizer on Monday said it has partnered with the non-governmental organisation, Doctors For You, to help create 400 oxygen bed capacity at Delhi's Yamuna COVID care centre.
With a grant of Rs 4.5 crore from Pfizer, Doctors For You has procured and deployed about 400 high-quality beds with oxygen support and other medically necessary equipment and services of medical and paramedical staff services to maintain the operations at the facility, the company said in a statement.
Social media platform Twitter is learnt to have approached the government seeking more time to comply with the new IT rules. According to sources, the micro-blogging site has said that it intends to comply with the rules but needs more time due to the pandemic situation in India. The response from Twitter comes after the government, last week, issued a strongly-worded final notice to the company regarding its non-compliance with the new rules.
Venture debt fund Stride Ventures has led a debt funding round of Rs 25 crore in MediBuddy, a Bengaluru-based digital healthcare platform. The startup helps its users consult specialist doctors, order medicines, and book lab tests from the comfort of their homes. It is also a partner to several leading corporate customers in the country and helps their employees access multiple healthcare benefits.
Apple kicked off its second annual all-virtual developer conference with a keynote that outlined new updates to its software for iPhones and other devices. The presentation highlighted more privacy options for paid iCloud accounts and a Find My service that helps find errant AirPods, but included no major product announcements.
F5, a D2C brand servicing daily workplace consumption, on Tuesday announced that it has closed $350,000 (approx Rs 2.5 crore) as the first tranche of its pre-Series A round, while it is in the final stage for closing the second tranche in the next couple of weeks. The current raise saw participation from angel investors including Mohit Satyanand, Chairman, Teamwork Arts who led through LetsVenture platform; Gurugram-based accelerator Huddle, AngelList, Venture Catalysts, Forbes Indian angel investor - Rohit Chanana among others.
Eighty percent of Indian citizens feel that the government and public services in India have been effective in using digital technology to respond to the COVID-19 pandemic, according to a new EY Connected Citizen Survey. Respondents in India hold a favourable attitude towards technology and see an important role for technological innovation in public service delivery, it said.
A top World Health Organisation official estimated Monday that COVID-19 vaccination coverage of at least 80 percent is needed to significantly lower the risk that imported coronavirus cases like those linked to new variants could spawn a cluster or a wider outbreak. Dr.Michael Ryan, WHO's emergencies chief, told a news conference that ultimately, high levels of vaccination coverage are the way out of this pandemic.
B2B Digital Adoption Solutions (DAS) provider Whatfix has raised $90 million in Series D funding led by SoftBank Vision Fund 2. The round also saw participation from Eight Roads Ventures, Sequoia Capital India, Dragoneer Investment Group, F-Prime Capital and Cisco Investments. This brings the total funding raised by Whatfix to $139.8 million to date.
Wadia Group-promoted Go Airlines (now rebranded as Go First) is likely to launch its initial public offering in August after the Securities and Exchange Board of India clears it in July, news channel ETNow reported, citing sources familiar with the matter. Go First did not immediately respond to YourStory's request for a comment on the veracity of the news report.
The COVID-19 pandemic has not been an easy year for anyone. Women have also borne the brunt of the pandemic, with the number of women in the workforce dwindling and reports revealing that women are overwhelmed and challenged by the work-life balance during the pandemic. In between all this, comes a piece of good news. According to a JobsForHer report, hiring of women in middle and senior management rose to 43 percent in 2020.
India’s leading ecommerce marketplace,, has secured the licensing rights for toy and baby brands – Toys”R”Us and Babies”R”Us in India, which will be executed through its joint venture with , an omnichannel enablement platform. The joint venture of Flipkart and Ace Turtle has secured licensing rights for these two brands through a strategic arrangement with WHP Global, the controlling shareholder of Toys“R”Us. These brands will be available to consumers online through sellers in India.
Edited by Anju Narayanan