Startup news and updates: daily roundup (September 6, 2022)
YourStory presents the daily news roundup from the Indian startup ecosystem and beyond. Here's the roundup for Tuesday, September 6, 2022.
Tuesday September 06, 2022,
4 min Read
UpScalio leases 200K sq ft space across five leading cities
With the festive season around the corner, ecommerce rollup startuphas leased 200,000 sq ft of space across nine warehouses in leading cities, including Delhi, Mumbai, Bengaluru, Hyderabad, and Kolkata, to prepare for the upcoming sales quarter.
To service these warehouses, UpScalio has hired 250+ individuals to ensure the efficiency of inventory and dispatch management.
On the fulfilment front, the company has brought on more delivery partners, taking its total reach to 20,000 pin codes, which will help cover a delivery footprint of almost 75% of the country.
To provide support to the expected increase in customers, UpScalio has built out a customer experience department of over 50 individuals who will help customers with any concerns across their purchase journey.
Fintech IppoPay acquires risk management startup Tutelar
Fintech startuphas acquired Tutelar, a full-stack AI-based risk management company, which builds products for real-time KYC and transaction fraud detection and risk management at every level of the payments value chain.
The startup enables risk-free onboarding, dispute resolutions, KYC fraud detection, transaction fraud detection, and mis-selling prevention — benefiting not only the principals (merchants and banks) but also the intermediaries (PA-PGs, issuers, and fintechs) and the TSPs (payments processors and switch networks).
“Tutelar is our first and very important addition to the full-suite infra-stack that IppoPay is building. KYC, transaction fraud detection, and risk management are very critical problems that RBI, NPCI, and the industry at large are trying to address. The addition of Tutelar makes IppoPay an important constituent in the fight against fraud in the payments space,” said Mohan K, CEO of IppoPay.
The startup also appointed Pradeep Kumar, Founder of Tutelar, to the IppoPay family as its risk specialist.
Sports-tech startup Netrin Sports launches CONQUR
, which offers solutions for performance improvement, launched Conqur — a centralised platform for capturing the physiological metrics of athletes during training.
Conqur uses gold standard ECG data to give training insights to athletes and coaches, which helps reduce the risk of injuries and improve performance optimally.
Users can avail of the product on a subscription basis, with a single athlete account costing Rs 25,000 per year. The subscription will include services like the device, access to coach platform insights, and support for data interpretation for both the coaches and athletes.
Initially, Conqur will be available to B2B customers, including academies and teams.
Neuron Energy partners with EVTRIC Motors
has partnered with EVTRIC Motors to supply 12,000 battery packs per year, generating an approximate revenue of Rs 50 crore annually. EVTRIC will also receive extensive holistic service support from Neuron Energy.
“Our batteries are safe and thoroughly tested, and we ensure to provide post-sales service support in case of any discrepancy to avoid any untoward incidents. We are hopeful that together we’ll be able to transition more consumers from regular two-wheelers to EVs, thus substantially reducing carbon footprint and building a greener future,” said Pratik Kamdar, Co-founder, Neuron Energy.
Founded in 2018, Neuron Energy provides lead-acid and lithium-ion technology batteries for e-bikes, e-rickshaws, and golf carts. The startup has a large export and domestic sales network in e-bike batteries.
BookMyShow appointed as exclusive ticketing partner for Legends League Cricket
is the exclusive ticketing partner for the next season of Legends League Cricket, scheduled to be played from September 16 to October 5, 2022.
Tickets for all matches will be available on the platform starting September 5, 2022.
“With a compelling line-up of players, the upcoming season of the hugely popular Legends League Cricket is all set to attract massive crowds. BookMyShow is delighted to be associated with this one-of-its-kind initiative, where more than 100 legendary cricket players have come together on one platform to entertain fans. We can’t wait for the season to get started,” said Anil Makhija, COO-Live Entertainment and Venues, BookMyShow.
T-Hub partners with SucSEED Indovation
T-Hub has signed a Memorandum of Understanding (MoU) with SucSEED Indovation, the SEBI-registered Alternative Investment Fund (AIF-1) Venture Capital Angel Fund, to accelerate investment opportunities for deeptech startups.
Utilising their combined knowledge of the startup ecosystem, T-Hub and SucSEED will work together to mentor, promote, incubate, and aid in deeptech startups’ growth by holding masterclasses and other workshops for knowledge exchange.
This will make it possible for T-Hub startups to receive mentoring in venture capital investment, transaction management, and risk management. SucSEED Indovation will also have a presence in T-Hub’s new facility, an innovation campus, as part of its one-year engagement.
(This article will be updated with the latest news throughout the day.)
Edited by Suman Singh