Startup news and updates: daily roundup (Jan 18, 2022)

YourStory presents daily news roundups from the Indian startup ecosystem and beyond. Here's the roundup for Tuesday January 18, 2022.
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GoGoA1 expands footprint, adds 50 over franchises across India

Mumbai-based EV conversion one-stop-shop GoGoA1 has seen an increased demand of 60 percent for the conversion kits since the announcement in 2021 and has expanded its network with more than 50 franchises across the country. It launched India’s first RTO-approved electric conversion kit for Hero Splendor in August 2021

Shrikant Shinde, Founder and CEO, GoGoA1 said, "The surge of demand for EV conversion or retrofitment is not because it supplements our country's new EV revolution, but also because it helps in adding a new lease of life and performance to existing vehicles."

"We have a strong footprint of franchise networks with over 50+ franchises registered pan India in Maharashtra, Gujarat, Tamil Nadu, Karnataka, West Bengal, Delhi and across India," he added.

The company specialises in providing OEM/ODM and electric and solar-powered vehicles and their components. The company mainly concentrates on the transformation of existing fuel two-wheelers, three-wheelers, and cars into electric-powered technologies by creating hybrid and complete conversion kits.

Chingari’s GARI Token to list in top 6 crypto exchanges

Bengaluru-based short-video app Chingari's GARI token to be listed in the Top 6 Exchanges including KUCOIN, HUObi, FTX, MEXC Global and gate.io. GARI Token (GARI), India’s first social crypto-token will open a gateway into blockchain for the Chingari app users.

It is the first Indian social token to be listed on OKEx, which is the world’s second-largest crypto. The Gari Token (GARI) sale will go live on January 18 on OKEx. Similarly, the GARI Token will go live on other top exchanges in the country, creating a buzz for the blockchain market.

“The various crypto trading platforms have joined hands with Chingari owing to the kind of user market that the platform has created,” said Sumit Ghosh, Founder and CEO of Chingari. “GARI Token (GARI) has become India’s first social crypto-token and we aim at providing beneficial investment options to the Chingari users through the tokens which can be monetised easily.”

Cashfree Payments partners with Furlenco for convenient and instant payouts

Cashfree Payments, payments and API banking solutions startup, said on Tuesday that it partnered with subscription-based furniture rental company Furlenco to assist in creating the fastest security deposit refund experience for its customers, through its Payouts link solution ‘Cashgram’.

Varun Krishnakumar, Director of Products, Furlenco said, “We are happy to partner with Cashfree Payments for Payouts so as to serve our customers with a seamless experience.”

“Prior to this partnership, our refund process was tedious, prone to errors and time consuming owing to system-induced delays. The partnership with Cashfree Payments has allowed us to render fast, secure and user-friendly settlements, thereby enhancing the overall customer journey. The time saved has allowed us to interact more with the customers in devising more effective and innovative procedures, thus creating a better value proposition,” he added.

The furniture rental company collects security deposits at the start of the subscription plan. Once the subscription ends, Furlenco teams pick up the furniture from the customer site and the security deposit is credited back to the customer's preferred account using a Cashgram link.

MobiKwik launches ‘ClickPay’ in collaboration with Bharat BillPay

MobiKwik on Tuesday launched ‘ClickPay’ for its customers, in collaboration with NPCI Bharat BillPay Ltd. (NBBL), the wholly-owned subsidiary of National Payments Corporation of India.

“Our partnership with NPCI Bharat BillPay is a testament to our commitment to providing best in class bill payment experience to our 120 million customers,” said Chandan Joshi, Co-founder, and CEO, Consumer Payments, MobiKwik said.

“We have integrated our Buy Now Pay Later (BNPL) service with ClickPay so that 24 million eligible users can now use BNPL credit for their daily life bill payments. In the future, we expect to work closely with NPCI on product partnerships which enable us to offer effortless payment experience on our platform,” he explained.

This feature enables MobiKwik customers to pay recurring online bills such as mobile, gas, water, electricity, DTH, insurance, and loan EMIs with ease by eliminating the need to remember individual bill details and due dates.

EaseMyTrip, Flybig announce India's first-ever exclusive partnership in the scheduled commuter airline category

EaseMyTrip on Tuesday said it has partnered with Flybig, India’s newest regional airline. Through this partnership, Flybig’s airline tickets will be exclusively sold by EaseMyTrip. All the bookings of Flybig by any other online travel portals will also go through and be processed by EaseMyTrip.

This is the first time In India a Scheduled Commuter Airline (SCA) is exclusively partnering with an online travel platform for flight bookings. It made EaseMyTrip India’s first online travel company become a general sales agent (GSA) for a domestic airline.

 

“Air travel is witnessing a major boom across Tier II and III cities, and we are delighted to partner with Flybig during such a critical juncture for the industry,” said Nishant Pitti, CEO and Co-founder, EaseMyTrip.

Flybig has plans to induct five aircraft by end of March 2022, with over 35 departures in a day. It will operate mainly under UDAN connecting the Northeast and Central East part of India.

Prashant Pitti,Nishant Pitti, and Rikant Pitti

Classplus appoints new CTO to lead its global growth

Classplus on Tuesday said that it has appointed Manish Chawla as the new CTO to bolster its next phase of growth across geographies. Classplus is a mobile platform for educators and content creators to launch their online teaching businesses,

Manish Chawla was with Zomato as VP of Engineering previously. He will lead Classplus’ product innovations and will be focusing on scaling engineering capabilities for Classplus’ growth. He has previously led industry-first tech innovations at high growth startups like MakeMyTrip, Paytm, and Dream11 among others over a career spanning nearly two decades.

“Keeping technology as a front-runner, I look forward to helping drive growth, delivering product innovation along with customer success at a global scale,” said Manish. “Given my passion for engineering and the deep belief in the Indian startup ecosystem, I am super excited to hop on the Classplus rocket-ship. It’s an awesome time to be joining the journey to co-create Classplus.”

Stempeutics initiates clinical trial for treating COVID-19 patients suffering from Acute Respiratory Distress Syndrome

Stempeutics, a group company of Manipal Education and Medical Group (MEMG), said on Tuesday that Drug Controller General of India (DCGI) has granted clearance of the company’s stem cell product “Stempeucel” for conducting label extension Phase III clinical trial in COVID-19 patients suffering from ARDS.

“From the clinical data using Stempeucel in different clinical trials in other indications it may be postulated that Stempeucel has the potential capability for treating COVID 19 infection complicated with ARDS,” said BN Manohar, CEO of Stempeutics.

“Together with the safety profile observed from DCGI approved clinical trials involving more than 380 patients injected with Stempeucel by different routes of injection, this therapy is safe and may help in mitigating the lung tissue damaging effects of COVID-19 infection,” he further said.

PayU’s full-stack solutions to help SMBs with access to credit

PayU on Tuesday introduced a full-stack product suite to provide simplified access to credit for PayU’s 3.5 lakh merchants. PayU has launched three products – Marketplace Early Settlement, Priority Settlement, and Merchant Lending. These solutions provide access to working capital, enhance cash flow management & increase liquidity, boosting SMB growth.

PayU's solutions provide customized offerings with credit amounts starting from a nominal Rs 25,000 for SMBs to several crores, and repayment cycles ranging from one week to one year. PayU’s solutions are designed to resolve their credit-related pain points, offering fast and simplified access to credit in less than 30 minutes, directly from the PayU dashboard, based on a merchant’s transaction history.

“Drawing on our payments expertise and deep understanding of Indian SMBs, we offer diverse credit products for merchants of differing sizes, categories and business life cycles, supporting digital financial inclusion,” said Hemang Dattani, Head, Growth Businesses at PayU. “This segment will be an important focus area for us in 2022.”

PayU, in partnership with other lenders, will also bring different credit solutions to meet the varied needs of SMB merchants. These include flexibility on tenor and repayment schedules, best-in-class loan life cycle experience, and revenue-based credit assessment.

Edited by Kanishk Singh