Startup news and updates: daily roundup (August 22, 2022)

YourStory presents the daily news roundup from the Indian startup ecosystem and beyond. Here's the roundup for Monday, August 22, 2022.
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Coinstore.com launches futures credit feature for its users

Global cryptocurrency exchange platform, Coinstore.com on Monday announced the launch of its 'futures credit feature' which enables users/investors to increase their crypto holdings without using their funds.

This means that investors who prefer to buy and hold digital assets for an extended period can leverage the future credit feature to further capitalise on market movements. Futures are commonly associated with commodity trading, however, it is also available for multiple forms of assets.

The Futures Credit is a digital fund loan reward to Coinstore.com users to help them to understand the Coinstore’s Perpetual Futures Trading. Coinstore’s Futures Credit feature enables each eligible registered user to benefit from participating.

To provide registered users with more opportunities for trading, Coinstore.com is offering a one-to-one Futures Credit for every USDT deposited. Users will be able to reap profit while experiencing the unique contract feature of Coinstore.com. 


Payworld appoints TransUnion CIBIL’s Amit Tyagi as CEO

Fintech startup Payworld has appointed Amit Tyagi as its new Chief Executive Officer. Amit will be responsible for leading the organisation into the next stage of its journey as it looks to leverage its pan-India distribution channel and wallet license to build an MSME-focused neobank.  

Amit brings with him a total of 12 years of experience with leading financial services organisations like Citibank, American Express, UAE Exchange, and TransUnion CIBIL. He was part of the founding team of Airtel Payments Bank and has extensive experience in distribution, financial services, and business leadership.

CommerceIQ Selected as a Walmart Platform Partner

CommerceIQ, a retail ecommerce management platform, has announced a new partnership with Walmart Connect. CommerceIQ is now fully integrated with Walmart Connect APIs and offers automated management of sponsored products and sponsored brand Amplifier advertising. Alongside sponsored advertising, CommerceIQ also offers off-platform display advertising support through its partnership with Trade Desk using Walmart data. 

Walmart Connect is the closed-loop media business for America’s largest omnichannel retailer, Walmart. Through Walmart Connect, marketers can tap into Walmart’s scale and reach, including the retailer’s extensive first-party customer insights.

Sripad Panyam joins dezerv. as Head of Product

Wealth-creation startup dezerv. has announced the appointment of Sripad Panyam as Head of Product. In his new role, Sripad will be responsible for the platform's overall product development and user experience. Sripad will be working closely with Sandeep Jethwani, Co-founder at dezerv. in scaling the current systems and making the product available for all working professionals in India.

Sripad brings in more than a decade of experience in product management and has built award-winning products in his previous ventures. Before joining dezerv., he served as the head of product at renowned companies like Urban Company.

Digantara to set up a commercial space situational awareness optical observatory in Uttarakhand

Spacetech startup Digantara has signed an agreement with the government of Uttarakhand to establish a commercial space situational observatory in the state. The observatory will be set up to augment Digantara’s space situational awareness capabilities and strategically positioned to serve global space traffic management operations. 

With the establishment of the observatory Digantara will be able to supplement its space-based sensors in its mission to monitor satellites and debris in orbits ranging from Low Earth Orbit (LEO) to Geosynchronous Earth Orbit (GEO). This will also bring indigenous capabilities to the nation for both military and civilian applications.

(This article will be updated with latest news throughout the day.)

Edited by Affirunisa Kankudti

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