Startup news and updates: daily roundup (September 5, 2022)

YourStory presents the daily news roundup from the Indian startup ecosystem and beyond. Here's the roundup for Monday, September 5, 2022.
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Unizon launches new digital platform to deal in unlisted shares

Fintech startup Unizon announced the launch of a new platform to deal in unlisted shares digitally.  Unizon’s platform will show the prices at which shares are traded in the market transparently. This shall give a fair idea of the prices of unlisted shares at which they are being traded. Also, new features on the platform represent the market depth of a particular share to give investors a better idea of the pricing of unlisted shares. 

Another key feature of the platform is the presence of trustee verification for every transaction done on the platform. Unizon has appointed a trustee to verify every transaction entered on the platform. The trustee ensures that every user who buys shares from Unizon receives the shares.

TraceX partners with CannSol to offer traceable nutraceuticals 

TraceX Technologies, a blockchain-powered traceability platform that enhances food and supply chain transparency, has partnered with Liechtenstein-based CannSol, a nutraceuticals company that offers a range of nutritional supplements. Through this collaboration with TraceX, CannSol will offer traceability of each ingredient at every stage of the production of the product. 

Lentra ramps up C-Suite with CFO and CHRO appointments

SaaS company Lentra on Monday announced the appointment of Haribandhu Patra as the Chief Financial Officer (CFO) and Bhuvaneswar Naik as the Chief Human Resource Officer (CHRO). These appointments are aimed to enhance Lentra’s ability to rapidly scale-up operations and launch innovative technology platforms that empower banks and financial institutions to democratise credit in India. 

The new appointments will help accelerate Lentra’s growth as it expands its footprint in India and across the world.

Haribandhu Patra has more than two decades of experience in leading finance teams at several global financial technology organisations. At Lentra, he will focus on enhancing shareholder value.

Bhuvaneswar Naik has over 25 years of experience in managing Human Resource functions at leading global technology organisations. He brings deep expertise in building dynamic workplace culture and international talent management programs. At Lentra, Bhuvaneswar will focus on human capital management while creating a high-performance culture.

Amazon India launches its largest sortation centre in Gujarat

In preparation for the upcoming festive season, Amazon India has announced the launch of its largest sortation centre in Gujarat. Situated in Bavla Industrial Area in Ahmedabad, and spread across 1.25 lakh sq. ft., this sortation centre will sort and connect customer packages to the delivery stations of Ahmedabad and other cities of the state. 

“We are expanding our infrastructure across the state, and this expansion will create new job opportunities. The expansion is in line with our commitment to deliver packages faster, reliably, and safely ahead of the upcoming festive season. The new Sort Center in Ahmedabad will help us cater to more consumers in different parts of Gujarat, a testament to the growing adoption of e-commerce across the country.” said Abhinav Singh, Director, Customer Fulfilment, Supply Chain & Amazon Transportation Services, Amazon India.

The new sortation centre features state-of-the-art infrastructure design and facilities that boost sustainable solutions to drive water conservation with more than 10 rainwater harvesting pits and wastewater treatment for recycling water to cater to flushing water requirements and gardening.  

Biz2X partners with TradeIndia

Digital lending platform Biz2X partners with TradeIndia through its digital platform Maadhyam. TradeIndia will provide financing solutions to the SMEs and the MSMEs in the TradeIndia B2B ecosystem.

With this partnership, TradeIndia will provide financial assistance to its B2B SMEs digitally, including loan servicing with facilities like the line of credit, invoice-based financing, and will digitally undertake credit monitoring, repayment, and collections management of these financial products through the deployment of Biz2X Maadhyam.

NuBooks launches accounting platform for small to mid-sized enterprises

NuBooks has launched its accounting platform to provide accounting tools to small businesses, freelancers and accountants to handle accounts and improve their financial performance. The platform is backed by Artificial Intelligence and Machine Learning and suited for all accounting needs including–reading invoices to making bookkeeping and management of finances easy.

Considering the shift in the economy and market demand, Nubooks endeavours to benefit the growing startup ecosystem with professional invoice creator, client and accountant base management tools, invoice, bill and receipt management tools, automatic and dedicated storage space for client data.

Commenting on the launch, Oumesh Sauba, Founder of NuBooks said, “AI is a revolutionary technology that has entered into every sector and with NuBooks, accounting is no more an exception. Our cloud-based easy-to-use accounting platform expedites accounts-related tasks and increases efficiency. We expect to acquire prominent clients with days and looking to grow at a rate of 100% month on month basis.”

Fashinza Appoints Fashion Industry Veterans to Support International Expansion

Fashinza, an AI-driven B2B marketplace for fashion brands and retailers, has announced the appointments of Neil Topiwala as Director in the UK and Pushkar Kumar as Director in the UAE. The latest appointments are a part of Fashinza’s expansion strategy in the US, Middle East, Europe, and UK following the $100 million Series B funding round.

Neil and Pushkar will lead Fashinza’s strategy to scale the international business. They will leverage their expertise to help Fashinza use data and cloud-based technology to create a more transparent, ethical, and sustainable production and supply chain.

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

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