Startup news and updates: daily roundup (Aug 26, 2021)

Camp K12 raises $12M in Series A co-led by Matrix Partners India, Elevation Capital (Funding)

Camp K12, the edtech startup focused on building a global online school for 21st-century skills, has raised $12 million in a Series A round co-led by Matrix Partners India and Elevation Capital. The company has seen growth in two new geographies, one new subject category, and a new group-class format launched over the past six months. 

Funds will be used to hire leaders across functions, hyperscale operations and marketing, and to build a world-class engineering and product team.

Government aims to raise auto sector contribution to GDP, job creation: Gadkari

The government looks to increase the contribution of the automobile sector to India's GDP to 12 percent from the present 7.1 percent and grow employment generation to 50 million from the current 37 million, Union minister Nitin Gadkari said on Wednesday.

Addressing SIAM's annual convention virtually, Gadkari further said the automobile industry is a vital player in India's vision to become a $5 trillion economy.

Elda Health raises seed funding of $1.5M from Avaana Capital, Orios Ventures, and Ananth Narayanan Family office (Funding)

Elda Health, a women-led one stop holistic health platform for the mid-age urban woman, has announced it has raised $1.5 million in a seed round from Avaana Capital, Orios Ventures, and Ananth Narayanan Family Office.

The funding will enable the Bengaluru-based brand to scale up its offerings, operations, hire new talent, onboard health and wellness professionals and doctors to expand its circle of expertise. Elda serves as an everyday companion for midlife women on their healthcare journey, empowering them with measurable health outcomes. 

Sports-focused startup Sporjo raises $2M in pre-Series A funding; Leander Paes joins the board (Funding)

Sporjo, an online education, training, and employability company focused on sports, has announced that it has raised $2 million in a pre-Series A round led by private investor Punit Balan, Chairman, Punit Balan Group and Punit Balan Studios, in participation with other private investors. 

The funding will be used to expand its product offerings, improve the product experience, scale its team, and drive expansion pan-India and in key overseas markets. 

YourStory’s flagship startup-tech and leadership conference will return virtually for its 13th edition on October 25-30, 2021. Sign up for updates on TechSparks or to express your interest in partnerships and speaker opportunities here.

For more on TechSparks 2021, click here.

Applications are now open for Tech30 2021, a list of 30 most promising tech startups from India. Apply or nominate an early-stage startup to become a Tech30 2021 startup here.