Startup news and updates: daily roundup (October 19, 2022)

By Team YS
October 19, 2022, Updated on : Thu Oct 20 2022 05:28:04 GMT+0000
Startup news and updates: daily roundup (October 19, 2022)
YourStory presents the daily news roundup from the Indian startup ecosystem and beyond. Here's the roundup for Wednesday, October 19, 2022.
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Shadowfax now available on ONDC platform

Logistics startup Shadowfax Technology has integrated with the Open Network For Digital Commerce (ONDC) to provide hyperlocal and ecommerce deliveries. It is also the first logistics player to have direct integration with the platform without any intermediary for all delivery formats.


Besides the ecommerce delivery coverage, the integration will also help sellers on the platform gain hyperlocal services in around 8,500 pin codes, expected to help enable a rapid scale-up as the ONDC platform matures. Shadowfax will also work closely with ONDC to further streamline the hyperlocal processes as part of the initial plans.

ONDC Kirana Store

Tata Capital’s Moneyfy partners with Dhan

Tata Capital's digital wealth management platform Moneyfy has partnered with Raise Financial Services’ stock investing and trading platform Dhan.


The collaboration will give Moneyfy users access to stock investing, trading, and margin funding. The company offers mutual funds, loans, credit cards, insurance, and corporate fixed deposit, among others.


Through Dhan’s direct equity platform, Moneyfy app users can now open a Demat account, buy and sell equity shares, and trade in futures and options.

Grip partners with Oxyzo Financial for corporate bonds

Grip Invest has partnered with Oxyzo to list investment-grade-rated corporate bonds on its platform—starting at Rs 10,000, offering 8-11% pre-tax yield to maturity (YTM) over a tenure of 12-36 months.


Through Grip’s platform, individual investors can discover corporate bonds rated A or above by leading credit rating agencies, including CRISIL, ICRA, and India Ratings (Fitch), implying a low risk of default.


These corporate bonds will be held in Demat form and listed on the stock exchanges to enable secondary trading, should the investor need to exit before maturity.


Nikhil Aggarwal, Founder and CEO of Grip, said, "Corporate bonds are yet another opportunity for investors to generate attractive returns as these are secured and rated financial instruments listed on the stock exchanges and offer inflation-beating returns with lesser volatility compared to equity markets.”

EV charging infrastructure startup Statiq, M&M partner to scale e-mobility

Statiq, an electric vehicle (EV) charging infrastructure startup, forged an e-mobility partnership with Mahindra & Mahindra (M&M) to provide EV users with a robust, accessible, affordable, and reliable e-mobility network across the country.


The two companies will also collaborate on various e-mobility tech integration projects going forward.


Akshit Bansal, Co-founder and CEO, Statiq, said, "Statiq has always been about promoting carbon-free mobility in India by providing an expansive charging network, and this alliance will strengthen our mission to advance the growth of the EV ecosystem further.”


Statiq has already installed over 6,500 charging stations and aims to take this number to 20,000 by the end of 2022.

statiq

Statiq cofounders Akshit Bansal (left) and Raghav Arora

Roposo to launch Delishaas cookware brand

Celebrity chef and entrepreneur Saransh Goila has joined hands with Roposo to launch a co-created cookware brand ‘Delishaas’.


It further noted that the demand for aesthetic cookware that enables healthy cooking has grown over the past few years, partly due to the pandemic that inspired people to explore home cooking more. Discerning consumers started to look beyond basic utensils and showed a preference for cookware that elevates their cooking and dining experience at home.

BabyChakra to give part of sale proceeds to C.R.Y

BabyChakra, the direct-to-consumer (D2C) parenting brand, has decided to contribute a part of every purchase via the BabyChakra app and website to support C.R.Y for child health, nutrition, education, and safety.


NGO C.R.Y supports underprivileged children to keep them safe, healthy, fed, and educated. The campaign was launched under — “Ek Tyohaar Aisa Bhi – Jahan Sapno Ko Milein Pankh”.

BYJU's partners with the Indian Coast Guard

Edtech company BYJU's, under its social impact initiative—Education For All—has partnered with the Indian Coast Guard, where it aims to educate over 1,200 children in Class 8-12 whose parents serve with the maritime protection force.


BYJU'S will provide students with free access to its tech-enabled digital learning content. As a first step, it has already distributed over 500 licences to children from government schools across several Indian coastal areas, including Chennai, Kochi, Bhubaneswar, Port Blair, and Gandhinagar.


The partnership with the Indian Coast Guard is in line with BYJU's target to empower 12 million children from underprivileged backgrounds across India by 2025 under its Education For All social impact initiative.


Edited by Suman Singh

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