Startup news and updates: daily roundup (Aug 16, 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 Monday, August 16, 2021.
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C-CAMP announces National Bio Entrepreneurship Competition 2021 open for innovators, entrepreneurs, student teams

Bengaluru-based premier innovation and technology hub and life science incubator, Centre for Cellular and Molecular Platforms (C-CAMP), on Monday announced the launch of the fifth edition of its National Bio Entrepreneurship Competition (NBEC 2021). 

C-CAMP is inviting innovators, entrepreneurs, companies, startups, and students to participate in the 2021 edition of its annual event NBEC. The applications for the event will close on September 16.

ParaFit acquires ketogenic diet delivery service startup Blufit

ParaFit, an online collaborative health and nutrition company, has acquired Blufit, Delhi-NCR’s Ketogenic diet delivery service, for an undisclosed value. According to a statement from ParaFit, this acquisition will help expand its market share and increase its revenue potential.

Remote employee startup Wishup raises $1M funding from Orios Venture Partners (Funding)

Remote employee platform Wishup on Monday said it secured $1 million in funding from Orios Venture Partners. The Delhi-based startup will use the funding to strengthen the supply end of the platform in India. Founded in 2015 by IIT alumni Neelesh Rangwani and Vivek Gupta, Wishup focuses on redefining work culture and task management in India.

Edtech startup Kalam Labs raises pre-seed from Y Combinator, Lightspeed, and FirstCheque (Funding)

Kalam Labs, the live game streaming startup that focuses on K-12 Learning with a multiplayer ecosystem, on Monday announced it raised a pre-seed round from Y Combinator, Lightspeed, and FirstCheque.

With this capital, the edtech startup plans to accelerate its product roadmap to build a “Metaverse for Science,” starting with fun and immersive virtual missions for 6-14-year-old kids to learn their favourite STEM topics by joining and playing various science-led missions.

D2C brand SleepyCat raises $3.8M from Saama Capital, DSG Consumer Partners, Sharrp Ventures (Funding)

D2C sleep solutions brand SleepyCat on Monday said it raised $3.8 million in a funding round led by Saama Capital. The round also saw participation from existing investors: DSG Consumer Partners and Sharrp Ventures (Mariwala family office).

This marks the company’s second external fundraise since inception, following a $1.6 million round led by DSG Consumer Partners and Sharrp Ventures in September 2019.

Fintech startup YPay raises $400K led by We Founder Circle (Funding)

Fintech startup YPay on Monday said it raised a bridge round of $400,000 led by We Founder Circle (WFC). The bridge round also saw participation from marquee investors, including Amit Tyagi, Gaurav Juneja, Ravi Gupta (Founder, Safexpay), and a senior CXO, Pragatii Bhargava. 

With the additional funding round, YPay plans to acquire talent as the brand moves towards its next milestone. A part of the fund will be used for technology development and fuel further growth.

Bengaluru-based Rapido raises $52M in its latest investment round (Funding)

Bike taxi platform Rapido has raised $52 million in its latest round of funding. The startup's new investors are Shell VenturesYamahaKunal Shah (Founder, CRED); Amarjit Singh Batra (CEO, Spotify India); and Positive Moves Consulting.

Existing investors, including Pawan Munjal of Hero GroupWestbridgeNexus Venture, and Everblue Management, also participated in the funding.

[Image Credit: Rapido]

Dream Sports acquires Pune-based Rolocule Games

Dream Sports on Monday said it acquired Rolocule Games, a Pune-based mobile games developer. Rolocule was backed by top-tier investors, including Blume Ventures, Mumbai Angels, and CIIE (IIM Ahmedabad).

Post-acquisition, Rolocule will be rebranded as Dream Game Studios, and founder Rohit Gupta will continue to lead Dream Game Studios, focusing on premium interactive gaming experiences on mobile.

SuperLearn raises $300K pre-seed round led by Incubate Fund (Funding)

SuperLearn, an after-school learning platform for children, has announced a pre-seed funding round of $300,000 from early stage Japanese VC Incubate Fund and five angel investors, including Vishal Bharghav, Padmanabhan Thangarajan, Anuraag Gupta, and Karan Talwar.

With this funding, the startup aims to deepen its product offering by introducing structured programmes, DIY activities etc. The funds will also be utilised to onboard new users to their platform.

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