Startup news and updates: daily roundup (Dec 27, 2021)

YourStory presents this daily roundup of the latest news and updates from the Indian startup ecosystem and beyond. Here's the roundup for Monday, December 27, 2021.
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Active user base of Glance touches $163 million

Glance, the lockscreen content platform for smartphones has grown its active user base to 163 million for the third quarter of 2021 and it was an 8 percent quarter-on-quarter growth.

Citing the data from Counterpoint Research’s Quarterly Mobile Application Tracker, Glance said its active user base consists of 30% of India’s smartphone users.

Lockscreen or screen zero is the first interface of any smartphone user and Glance provides content across various categories. According to this InMobi group company, two-third of its active users were from the $100-250 price band of smartphones and followed by users above this range.

Research Analyst Arushi Chawla said, “As per our estimates, about a billion smartphones will be sold in next five years in India, which brings a huge opportunity for a content platform to expand using Hardware as a Distribution (HaaD) model. Being a multi-lingual, pre-installed application in many leading smartphone OEMs, it serves as a gateway to the latest content for many first-time smartphone users.”

Over the past year, Glance has expanded its user base beyond India and is currently also available on devices across Southeast Asia.

Hero Electric vehicles for BattWheelz Mobility

Hero Electric, one of India's leading electric vehicle manufacturers, has entered into a partnership with BattWheelz Mobility a Gurugram-based startup, that offers last-mile delivery mobility solutions to e-commerce and Hyper-Local Grocery Companies.

As a part of the association with BattWheelz Mobility, Hero Electric will deliver 4000 vehicles by FY 2022-23. The last-mile delivery segment is one of the fastest-growing spaces pertaining to increased penetration of online and ecommerce businesses. This partnership is expected to enable low running cost, high load carrying capability as well as the primary goal being environmentally friendly.

Sohinder Gill, CEO, Hero Electric said, “This partnership highlights our shared vision of offering eco-friendly mobility solutions and the direct advantage of adopting electric mobility in terms of savings and contribution to safeguarding the environment.”

Chetan Chaturvedi, founder & MD, BattWheelz said, ”Our Mission is to provide affordable, clean and Smart Mobility Solutions to the masses. Our Vision is to promote affordable and sustainable Delivery Services through Electric Vehicles.”

Care Now Pay Later from SaveIN

The Buy Now Pay Later (BNPL) platform has got a new avatar – Care Now Pay Later (CNPL) from the fintech startup SaveIN with the aim to make healthcare more accessible and affordable.

Similar to how BNPL leads to a lot of impulse purchase, SaveIN expects CNPL will give the option for consumers to pick up health-related purchase plans. The startup has tied up with over 100 healthcare providers in Delhi, Gurgaon, and Noida for health segments including dental, eye care, veterinary, diagnostics, dermatology, hair clinics, fertility, physiotherapy, fertility among others. 

SaveIN founder & CEO Jitin Bhasin said, “With CNPL, one can avail zero cost payment options while availing healthcare products and services at providers near them.”

The CNPL of SaveIN will allow patients to split medical bills into small monthly payments that include minimal or no cost and the entire process will be completely paperless.

As per industry estimates, elective healthcare in India Is a $20 billion market with optical/eye care, dental, diagnostics, veterinary, cosmetics and fertility being some of the largest categories and growing between 10%-25% compounded annually. Most of these health segments are in-clinic processes and generally not covered by insurance or instant credit options.

Revenue of fitness brand Slovic rises by 1.7x

Sports & Fitness brand Slovic, which was acquired by e-commerce aggregator Powerhouse91, two months ago claimed that its revenue grew by 1.7X while maintaining profitability.

The sports and fitness goods category is set to grow at an 8.6 percent CAGR to reach $2.7 billion by 2026 and by Powerhouse91 is confident of achieving 10x growth by March 23. Slovic is in the process of expanding its product range with multiple new launches in the wider fitness and sports consumer products space.

Bridgeweave forms partnership with WealthDesk

Bridgeweave, a fintech focussed on enabling universal access to complex quantitative investment research through its InvestorAi platform, has partnered with WealthDesk, an investment technology platform that’s building the Unified Wealth Interface (UWI) for Wealth Management ecosystem on top of broking.

UWI is a wealth management ecosystem that is powered by WealthDesk Platform and it enables innovative investment and wealth products and solutions like equities and ETF wealth baskets from InvestorAi to reach millions of Indians with broking accounts.

This partnership is expected to make available stock recommendations leveraging artificial intelligence to a wider category of investors.

 

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