Startup news and updates: daily roundup (November 24, 2022)

By Pooja Malik
November 24, 2022, Updated on : Thu Nov 24 2022 15:47:40 GMT+0000
Startup news and updates: daily roundup (November 24, 2022)
YourStory presents daily news roundups from the Indian startup ecosystem and beyond. Here's the roundup for Thursday, November 24, 2022.
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CommerceIQ appoints former Uber’s Varun Srivastava as Vice President, Engineering

CommerceIQ, a retail ecommerce management platform, has announced the appointment of former Walmart Labs engineering leader/ former Uber techie Varun Srivastava as VP Engineering, India. 


In his new role, Srivastava will join the leadership of CommerceIQ’s engineering arm, as well as help develop the company’s products and offerings for its global all-in-one Retail Ecommerce Management Platform.


A technology leader, Srivastava is armed with over 15 years of experience, having worked with Uber, Walmart Labs, and Yahoo previously. In his last role at Uber, he served as the head of business platform where he led the engineering teams for Uber for business vertical. He has worked within diverse domains including ecommerce, ride sharing & delivery, media platforms and network algorithms. 

GoKwik plans to onboard 10K digital-first brands and ecommerce brands

Ecommerce enabler GoKwik said that it expects to onboard over 10,000 digital-first brands and ecommerce players on its platform in 2023 on the back of several innovative solutions implemented by the company. At present, GoKwik helps over 500 brands to attain 10x growth through its innovative solutions. 

GoKwik

The startup has so far helped brands reduce RTO by 30% and improve conversion rates by over 35%. RTO happens due to a failed delivery of goods and directly impacts the revenues and profits of a brand. 


GoKwik is now aiming to bring over 10,000 brands under its network with a vision to create a unified ecommerce ecosystem by supporting small, medium, large and enterprise level brands. GoKwik is specially building efficient models to cater to small merchants. This includes customisable whatsapp commerce, robust address verification systems, easy and insightful dashboard offering uber level analytics, etc. It is also strategically venturing into newer product categories, business segments and partnerships. 

SuperGaming and Google Cloud collaborate to empower game developers

Indian game developer SuperGaming has chosen Google Cloud to bring its best-in-class live-ops engine, SuperPlatform, to game developers across the world. This will empower game developers to make better games with battle-tested cloud infrastructure that currently powers all of SuperGaming’s efforts. This includes PAC-MAN, which has more than one billion downloads across all storefronts, and its multiplayer shooter MaskGun, which has more than 65 million players.


SuperPlatform will run on Google Cloud and will enable game developers to manage live ops, matchmaking, player progression, player data, analytics, monetisation systems, server scaling, sales, and merchandising. It also integrates with popular game development platforms.


In addition to this, upcoming SuperGaming titles such as Indo-Futuristic battle royale, Indus and Tower Conquest Metaverse Edition will also run on Google Cloud.

EnKash launches incentive program “Attitude Bonus”

Enkash, a business spend management platform, has launched an industry-first incentive program called the “Attitude Bonus”. At the time when the industry is facing major challenges around multiple companies laying off their employees, this is a key step by EnKash to take care of its team members.


Through this Program, EnKash will reward its employees for their ownership and intrapreneurial attitude towards work and the organisation’s growth. The program also intends to enable individuals to hone multifaceted skills, improve accountability and ownership, and upgrade their overall performance.


To ensure a fair assessment of employees’ efforts, EnKash has designed a tracker-based system. Through this system, its team members will be able to keep a record of the number and kind of initiatives taken by them while going “Beyond Call of Duty”. The company has established an “Attitude Bonus Reward Committee” comprising the senior leadership team backed by the founders, that will evaluate the entries sent by the employees.

SINE, IIT Bombay, and Microsoft join hands to empower startups

Society for Innovation and Entrepreneurship (SINE), the umbrella organisation at IIT Bombay for fostering entrepreneurship and nurturing tech startups signed a Memorandum of Understanding (MOU) with Microsoft to support SINE startups. The collaboration is in line with the SINE’s vision to provide an environment to translate knowledge and innovation in creating successful entrepreneurs.


As a part of this collaboration, SINE and Microsoft will explore opportunities that will help startups at SINE avail benefits of Microsoft software and services, access to GitHub, M365 resources, training and skilling on Azure, along with mentor networks. This collaboration will further help startups get exclusive access to Microsoft’s leadership, industry experts Microsoft Valuable Professionals (MVP), Azure Influencers, and startup founders. Microsoft and SINE will also work together to select and onboard startups to Founder’s Hub. Select startups also get the opportunity to be a part of the Azure community program and other ongoing developer campaigns by Microsoft like the Azure Developer League, Azure Blogathon, Hackathons, Open Hacks, and Imagine Cup.

VMentor.ai onboards Devesh Rakhecha as advisory member

VMentor.ai, a advisory platform for mentorship that focuses on delivering business results and impact, enriches the leadership team as founder Devesh Rakhecha, former founder of Marwadi catalyst joins as an advisory member.

VMentor.ai

Devesh Rakhecha

With the expertise of stalwarts in the business industry and a strong mentorship team, Devesh is a valuable addition to the team of VMentor.ai. The organisation is delighted to move forward with him as an advisory team to shape the entrepreneurial ecosystem of the country.

Supply Chain solution provider 3SC launches SCAI

Supply chain analytics and software Solutions Company, 3SC, introduces the launch of SCAI, an Intelligent Supply Chain Planning and Execution platform that will help businesses better manage the supply chains for their products and services. SCAI will be an ideal supply chain management solution for a globally distributed network of suppliers, plants, DCs, customers/channels, complex global supply chains, and customers looking for sustainable supply chain solutions. 


3SC saw a Y-O-Y growth of 46% with almost $49 million in Q3 of 2022. Headquartered in Gurugram, India, the organisation has a robust presence in Southeast Asia, the Middle East, and Europe.


SCAI expected to generate a revenue of $10 million annually and will be an ideal solution for enterprises from all industry segments having an average annual revenue ranging from $500 million to $1 billion. SCAI is designed to create value for global supply chain organizations across FMCG, FMCD, FMEG, ecommerce, industrial, apparel, pharma & healthcare, and retail sectors. 

ACTIS Backed Blupine energy Acquires 404MWp

ActisActis, a global investor in sustainable infrastructure, has announced that its portfolio company, BluPine Energy, a renewable wind and solar power generation and storage business, has completed the acquisition of a 404MWp operating pan-India solar portfolio from the Atha Group.


The acquisition will enable BluPine to support India’s energy transition by targeting 4GWs of portfolio capacity over the next 4 to 5 years.


Actis has a proven track record in building and operating renewable energy businesses of scale in India by introducing highly experienced sector-focused management teams and supporting them with its global network and expertise, creating sustainability leaders in the energy space. Actis has previously built two leading Indian renewable IPPs, Ostro Energy and Sprng Energy, both of which were sold to key strategic players, becoming marquee transactions in the industry.

your-space launches “YS Clubhouse” in the student housing sector

your-space has launcheed a recreational space in the student housing sector, upgrading the student living experience in India. The your-space hub, built in an area of 4000 sq feet, is equipped with a range of different amenities including a mini library, performance area, a cafe, a reading corner, a study pod, and a gaming area with consoles, table tennis and a foosball set up. After a grand launch on the 20th of November 2022, the YS Clubhouse is now ready and excited to welcome students. 


Opening in the heart of one of the biggest student hotspots in the country, in the North Campus, Delhi University, on Bungalow Road, this clubhouse will be within walking distance from 10 different colleges, including SRCC, St. Stephens, Ramjas, Hansraj, Hindu, Miranda House, and Daulat Ram College. The area has a strength of approximately 15,000 students.

Biz2X plans to hire 250 people by 2023 in India

Biz2X, a subsidiary of Biz2Credit in India, announced plans to hire 250 people by 2023.


The digital lending SaaS platform, which enables financial institutions to provide a customised online lending experience for their small and midsize business customers, recruited 220 people in 2022 across its India office, in addition to 30 contractual staff members.


Biz2X will hire personnel in the middle management roles with experience and expertise in domains such as data science, product development and management, front end and back end operations among others.


Some of the top academic institutions from which Biz2X has hired or is planning to hire from includes IIT Roorkee, IIIT Sonepat, IIIT Delhi, BITS Pilani, NIT Delhi and Kurusksetra, Jaypee Institute of Information Technology, Maharaja Agrasen College, NSUT, Hansraj, Indraprastha University, and Jamia Milia Islamia, among many others.

WebEngage onboards three new strategic hires

Full-stack retention operating system WebEngage today announced that it has onboarded three strategic hires to help the company catapult into its next phase of growth. Having recently started operations across Indonesia, the company also announced that it has opened up more than 100 positions across departments and geographies.


WebEngage hired Hetarth Patel as the new VP in MENA and Managing Director, UAE; Shreya Trivedi as Chief of Staff; and Apurva Chawla as Associate Director, Product-Led Growth.


WebEngage has been growing 100% YoY and intends to maintain the momentum. The company works with 600+ clients, including new-economy and internet-first businesses, and propels the digital transformation journey for enterprise clients.


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


Edited by Megha Reddy