Startup news and updates: daily roundup (Feb 05, 2022)

YourStory presents daily news roundups from the Indian startup ecosystem and beyond. Here's the roundup for Saturday, February 05, 2022.
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Lawyered acquires legal compliance startup 'Let’s Scale Up'

Lawyered, a legal tech initiative designed to change the way people interact with and within the legal industry, has acquired legal compliance startup Let’s Scale Up (LSU) to expand footprint in the consumer space. All of Let’s Scale Up’s existing customers will now be transitioned into Lawyered’s client base.

Talking about this development at Lawyered, Himanshu Gupta, CEO and Founder of Lawyered, said - “It is a wonderful opportunity for us to innovate products and services that are the need of the hour and cater to the legal needs of the public.”

Lawyered also adds founder of LSU, Syed Asif Iqbal and Mahendra Singh to its core team. Asif joins as Head of Product and Strategy and Mahendra will take up the responsibility of Head Business Operations. They will be responsible for spearheading the consumer acquisition at Lawyered and will be a part of the next phase of its growth.

Talking about his new role, Syed Asif Iqbal shared, “We had a vision in mind when we began LSU and now along with Lawyered, I envision great success.”

Mahendra Singh on the development said  “Lawyered truly aligns with the goal with which we founded LSU and I am thrilled to be joining Lawyered as their Business Operations Head and very enthusiastic about the road ahead for not just me but for Lawyered as well.” 

Amazon India signs MoU with Karnataka State Rural Livelihood Promotion Society 

Amazon India on Saturday said that it has signed an MoU with Karnataka State Rural Livelihood Promotion Society (KSRLPS) to support the growth of women entrepreneurs across the state. 

Through this association, Amazon India will launch Sanjeevini-KSRLPS on its marketplace and also extend the benefits of the ‘Saheli’ program to train and empower thousands of women entrepreneurs from the state of Karnataka to come online and access a wider market for their products. 

This association will help bring in regional selection and unique products from categories like grocery, home and fashion accessories made by over 30,000 women entrepreneurs and self-help groups (SHGs) associated with Sanjeevini-KSRLPS online and make them available to millions of Amazon customers across the country.

Amazon’s Saheli program offers extensive training and skill development workshops for its partners to help women entrepreneurs associated with them understand the nuances of online selling and develop skills & capabilities necessary to grow their business on Amazon.in. 

Shri CN Ashwath Narayan, Hon’ble Minister of Skill Development, Entrepreneurship and Livelihood, Government of Karnataka said, “One of the key priorities of our Government is to establish a flourishing ecosystem for women entrepreneurs of Karnataka, especially from rural areas and I would like to commend Amazon for their efforts and initiatives in this area. Our association with Amazon will give wings to the dreams of women entrepreneurs from Karnataka and support our capacity building initiatives for women entrepreneurs.”

Sumit Sahay, Director, Selling Partner Services, Amazon India said, “We will work with KSRLPS to bring the benefits of e-commerce to thousands of women entrepreneurs and SHGs across the state and help them kick start their journey as digital entrepreneurs.  We are confident that access to a comprehensive suite of services and support from our Saheli program will help these entrepreneurs realise their true potential.”

Funding Roundup

QuickTrades raises $20,095  in seed funding

QuickTrades, a Jabalpur Smart City Incubation Center backed startup, on Friday said that it has raised Rs 15 lakhs or $20,095 in seed funding from a Jabalpur-based angel investor, Ankit Shrivastava.

QuickTrades is a platform aiming to make day trading easier by providing quick Analysis and on time alert notification.

Established in 2020 by Aayush Agrawal and team, it has more than 100 traders or investors currently accessing its services and over 10 onboarded expert technical analysts providing analysis through QuickTrades application. 

Apart from this QuickTrades is also trying to educate people in the field of technical analysis through its quality content designed by its experts.

According to the company statement, the startup will primarily use the fresh funds to upgrade their product, coach tools, and content that will enable better quality service. 

Agam International gets investment from AWE Funds 

Agam International - a next generation fintech advancing the lives and livelihoods of individuals and SMEs - has received an undisclosed amount of investment from AWE (Achieving Women Equity) Funds – a leading global GenderSmart venture fund platform.

Agam, headquartered in London, UK, was set up in 2019 by Bangladeshi female founder and Chief Executive, Shabnam Wazed, and is backed by senior entrepreneurial, tech and banking expertise. It operates in Bangladesh and India.

Its universal platform is designed for leading banks focused on deploying advanced digital services, delivering a positive impact for customers while generating economic growth. Its first pilot, backed by international NGO Swiss Contact, was launched in 2021 with Bangladesh’s largest commercial bank, Prime Bank. The full commercial roll out follows this year.

Ms. Shabnam Wazed, Founder & CEO of Agam, remarked, “AWE Funds investment into Agam, validates and reinforces our commitment to women empowerment and reducing gender and income inequality while delivering commercial returns to our investors.”

Ms. Seema Chaturvedi, Managing Partner, AWE Funds said, “At AWE Funds, our focus is to invest in innovation which promotes gender equity in India based connected companies. This thesis is deeply embedded in Agam International which is not only providing a robust solution to the next billion unbanked people in developing markets, but also positively impacts at least 7 other United Nations Sustainable Development Goals (SDG) goals through the multiplier effect Agam is creating."

Edited by Anju Narayanan

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