Startup news and updates: daily roundup (November 22, 2022)
AUM Ventures launches Venture Fund
, an early and pre-growth stage venture capital firm empowering tech/tech-enabled and consumer-focussing Indian entrepreneurs has announced the formal launch of its maiden venture capital fund. AUM Ventures is a VC fund licensed and regulated by Abu Dhabi Global Market (ADGM), the international financial centre of the UAE’s capital Emirate.
India recently surpassed the UK as the fifth global economy and with a projected growth rate of more than 6%, it is forecasted to be the third-largest economy by 2030.
With offices in Abu Dhabi, Bengaluru, and Mumbai, AUM Ventures bridges India with global markets, working with India’s large technical diaspora to bring ideas and innovation back to India, while also acting as a platform for Indians looking to take their ideas to the global stage. The firm works with founders to set up regional operations and raise follow-on capital from global investors to facilitate market expansion.
Amagi acquires Streamwise to add more power to its streaming data analytics solutions
Media tech companyhas said it has acquired Streamwise, an early-stage data aggregation and reporting platform for content distributors. Streamwise specialises in automating and standardising data collection across streaming platforms.
The acquisition will help Amagi to enhance its data solutions capabilities with comprehensive, more streamlined reporting and dashboards.
With the explosion of live linear channels, advertising, and viewership on Free Ad-supported Streaming TV, data and insights on content and ad performance will become the key differentiator that helps content creators stay ahead of the game. The need for comprehensive insights is forcing content creators to invest heavily in building these capabilities in-house.
Priyanka Chopra Jonas' hair care brand Anomaly launches on Myntra
Actor Priyanka Chopra Jonas' hair care brand, Anomaly, launched on 20th November on Myntra, offering high-quality and environmentally conscious products to haircare enthusiasts, looking to add clean and effective formulas to enhance their hair care regime.
AWS launches second infrastructure region in India
Amazon Web Services, Inc. (AWS), today announced the launch of its second AWS infrastructure region in India—the AWS Asia Pacific (Hyderabad) Region. Starting today, developers, startups, entrepreneurs, and enterprises, as well as government, education, and nonprofit organizations, will have greater choice for running their applications and serving end users from data centers located in India.
Customers will have access to advanced AWS technologies to drive innovation including data analytics, security, machine learning, and artificial intelligence (AI), the company confirmed.
The Sleep Company to launch two phygital stores in Mumbai
The Sleep Company, a SmartGRID technology-based mattress and comfort-tech solution provider has launched two retail outlets in Thane and Andheri West, Mumbai. This marks The Sleep Company’s entry into the country’s financial capital in addition to its presence in Hyderabad and Bengaluru. The brand will be utilising the funds it recently secured in its Series B round to realise its target of opening 25+ stores across the country.
Both of The Sleep Company’s Mumbai stores will serve as key experiential touchpoints for customers to interact with the brand. The offline foray broadens the reach and accessibility of the brand’s revolutionary innovations to a wider audience. The store will function based on a phygital model, allowing the customers to cash and carry small products from the store while ordering SmartGRID mattresses online that will get delivered to their doorstep.
SG Analytics appoints Rob Mitchell as the new advisory board member
SG Analytics, a Global Insights and Analytics company, has announced the addition of Rob Mitchell to its advisory board. Rob Mitchell, an industry veteran and accomplished professional with over 25 years of experience is the Co-founder & CEO of FT Longitude, a London specialist thought leadership agency that advises global B2B brands.
Flipkart and Axis Bank partner to launch ‘Flipkart Axis Bank Super Elite’ credit card
Ecommerce marketplaceand Axis Bank, the third largest private sector bank in India, have partnered to launch the ‘Super Elite Credit Card’. In an effort to scale the Flipkart SuperCoins reward programme and enhance the customer shopping experience, this card will serve extensive value to shoppers.
Following the three million milestone recently achieved for the existing Flipkart Axis Bank Credit Card, this partnership enables yet another avenue for customers on the platform to unlock and enjoy unique rewards.
The Super Elite Credit Card will offer an activation benefit of 500 Flipkart SuperCoins with 4X SuperCoins earned for every transaction on Flipkart and rewards up to Rs 20,000 across Flipkart, Myntra, Flipkart Health+, Cleartrip, and Flipkart Hotels.
Green Soul Ergonomics crosses the 200 Cr ARR mark, surpasses Diwali sales estimates
Green Soul Ergonomics, an office and gaming chair brand owned by UpScalio, has hit the 200 cr annualised revenue run rate mark. For October, Green Soul reported a massive 124% increase over its September BAU performance.
The festive sale period is an all-important month for every ecommerce store and Green Soul has had an impressive showing with the brand claiming to have sold one chair every 90 seconds during this period.
Jupiter Meta rebrands itself as a metaverse and Web3 advisory
Jupiter Meta announced it is rebranding to a Metaverse and Web3.0 advisory today. The Metaverse-as-a-service (MaaS) startup is actively helping businesses transition into the digital reality segment by building a Web3.0 economy.
Jupiter Meta has also created token-based solutions that will not just redefine how content is consumed around the world, but also change the dynamics of monetization for content creators and journalists at a grassroot level. Its design architecture leverages blockchain tech and plugs in IoT and AI tools to deliver a futuristic and customisable product experience, according to a press release.
Flipkart becomes the first company globally to be awarded the prestigious Transported Asset Protection Association
Flipkart has become the first company globally to be recognised and awarded the prestigious Transported Asset Protection Association - Facility Security Requirement (TAPA FSR) multi-site certification for its 75 fulfillment centers.
This makes Flipkart the only ecommerce company globally to receive a multisite ‘A’ accreditation, “elevated security protection” from the organisation. This certification, which is achieved by working with DNV, a TAPA-approved Independent Audit Bodies - (IABs), serves as a testament to Flipkart’s efforts towards ensuring the business continuity of its sites through effective program management and mobilisation of its workforce for seamless operations.
(This copy will be updated with the latest news throughout the day)
Edited by Affirunisa Kankudti