Startup news and updates: daily roundup (April 4, 2022)

Flipkart Group launches ‘Flipkart Foundation’ to support livelihoods by creating employment opportunities

The Flipkart Group on Monday announced the launch of Flipkart Foundation, citing its aim to enable inclusive growth by creating direct and indirect employment opportunities for the underprivileged population at the grassroots level. The foundation hopes to impact 20 million lives in the next decade.

It was formally launched in New Delhi by Virendra Kumar, Union Minister for Social Justice and Empowerment; Bhanu Pratap Singh Verma, Union Minister of State for Micro, Small and Medium Enterprises; and Sadhvi Niranjan Jyoti, Minister of State for Rural Development and  Minister of State for Consumer Affairs, Food and Public Distribution. 

The foundation plans collaborate with stakeholders across the government, NGOs and community leaders to offer market access to the underrepresented sections of the society, skill and community development as well as environmental responsibility.

Minister Virendra Kumar said, “While India is full of opportunities, there is a need to drive equitable growth. To help drive this, it is important for businesses to offer support to underprivileged sections of society to make them a part of the country’s growth story.”

Footballer Bhaichung Bhutia and others invest in Gangtok-based social commerce

Gangtok-based social commerce startup NE Origins on Monday announced it has raised seed funding from national footballer Baichung Bhutia and other strategic angel investors. Founded by first-generation entrepreneur Rewaj Chettri, the startup’s undisclosed amount of funding valued NE Origins at $2 million, and got selected in an incubation program by ALSiSAR Impact.

Baichung said, “I am excited about Rewaj and his team and was drawn in by the larger vision they shared about NE Origins and the role it could play in the Indian ecosystem. As a longstanding public representative of the North East on the national and international stage, I believe that Rewaj’s venture can help to mainstream our heritage, culture, and history through his commitment to thoughtful community commerce.”

Fintech company Zaggle partners with Tata Capital’s Moneyfy to offer investment products 

SaaS Fintech company Zaggle announced its plan to venture into investment products in partnership with Tata Capital’s digital wealth management platform Moneyfy.

This ensures Zaggle’s users access to all the mutual funds available on the Moneyfy platform that allow beginners to invest as low as Rs 100. 

The fintech company aims to boost accessibility further through options such as insurance, loans, fixed deposits, NPS among other things.

Raj N, Founder and Chairman, Zaggle reiterated, “We are excited to join hands with Tata Capital and thereby expand our offerings with the introduction of investment products. With Moneyfy, our users will now get access to best-in-class investment products which will help in their journey of wealth creation.”

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WazirX, Buidlers Tribe, and Atal Incubation Centre calls developers for Blockchain Accelerator Programme

Goa-based startup incubator Atal Incubation Centre in partnership with WazirX and web 3.0 incubator Buidlers Tribe on Monday launched a Blockchain Accelerator Program for about 40 blockchain developers in the country. Recent graduates, startups, and blockchain developers can apply for the programme.

The programme will be conducted at Atal Incubation Centre (AIC), and Goa Institute of Management (GIM), starting on April 15 this year.

Commenting on the program, Rajesh Joshi, CEO, Atal Incubation Centre, GIM, said, “The blockchain accelerator programme in Goa will provide developers with infrastructure and technical skills and catalyse the establishment of a best-in-class and holistic training ecosystem.”

The long-term vision, he added, is to provide an impetus to the state economy and job creation.

Aritra Sarkhel, Director of Public Policy and Government Affairs at WazirX said, “The objective is to make Goa a model state when it comes to anything blockchain. We want to offer world-class training, equipment, and market access to our country’s talent so that they can make in India and provide innovative solutions globally.”

DailyObjects on a hiring spree to strengthen leadership

Lifestyle D2C brand DailyObjects has appointed seven new leaders across areas of branding and marketing, design, sales, operations supply chain, and customer experience to strengthen the company’s management team. 

The move is to expand its presence in global markets as it continues to hire more in the coming months, the company said in its release.

Pankaj Garg, co-founder and CEO of DailyObjects said, “To build a successful brand and company, people and right structures are very important, and keeping this in mind, we are taking proactive steps to build a great team and organization at DailyObjects.” 

Agrizy raises $4 million from Ankur Capital, others

Agrizy, an agritech startup, has raised $4 million from Ankur Capital in a seed round, according to a release shared by the firm. 

The round also saw participation from Omnivore Capital, a Mumbai-based investment firm, Blackbuck's Rajesh Yabaji, and Zetwerk's co-founders Srinath Ramakkrushnan, Amrit Acharya and Rahul Sharma, among others. 

Agrizy was founded in September 2021 by Vicky Dodani and Saket Chirania. The firm is a tech-firm platform, which connects the buyers with the manufacturers of non-perishable farm products across food and non-food categories. 

The firm will use the funding to develop their product further and accelerate business activities.