Startup funding and news updates: daily roundup (December 5, 2022)
YourStory presents daily news roundups from the Indian startup ecosystem and beyond. Here's the roundup for Monday, December 5, 2022.
Recur Club to provide capital for IVY Growth’s portfolio of startups
, a fintech platform that provides growth capital for startups, has entered into a partnership with IVY Growth Associates to allocate up to $10 million in non-dilutive growth capital for the latter’s portfolio companies.
The collaboration aims to create a pool of investors that will nurture startups and hand-hold them throughout the journey. Recur Club with IVY Growth associates will target investing in about 500 startups by the end of 2027.
Hero Vired appoints new HR head
Edtech platformsaid it appointed Samra Rahman as Head, People, and Culture. As a member of the core leadership team, Samra will play a crucial role in attracting and retaining diverse talent, strengthening growth opportunities for them, and driving an agile culture driven by productivity and accountability for the company.
Before joining Hero Vired, Samra was the Chief Human Resource Officer at Centum Learning. She has also been associated with companies such as HCL Technologies, IBM, and Tata Teleservices.
Tork Motors forms partnership with CredR
Electric motorcycle manufacturer Tork Motors has entered into a partnership with CredR, an omnichannel platform for buying and selling of used two-wheelers. Under this, customers will be able to exchange their old two-wheelers on CredR’s platform to buy a new KRATOS, an EV bike from Tork Motors.
CredR will evaluate the exchange vehicle as per its proprietary inspection and the exchange value will be discounted from KRATOS’ buying price. Tork Motors launched its flagship product–KRATOS and KRATOS-R in January. The KRATOS® is priced at Rs 1,22,499 [ex-showroom after subsidy in Maharashtra]. The KRATOS®-R is priced at Rs 1,37,499 [ex-showroom after subsidy in Maharashtra].
GetSetup appoints Ashwini Kapila as India head
, a virtual social learning platform for older adults has appointed Ashwini Kapila as Managing Director, Business Development and Partnerships for India.
At GetSetUp, Kapila will be responsible for driving partnership and business growth in India. Founded in 2019, GetSetUP focuses on creating economic, social, and educational opportunities for adults over 55.
The company has over 4.6 million users from 160 countries and more than 100 partners with organisations from governments to health plans and financial institutions working with them.
GetSetUp has localised sites in India, as well as in the US, Australia, and the UK. The platform offers daily classes for Indian learners on subjects pertaining to fitness, well-being, technology skills, entrepreneurship, and community engagement among others in English and regional languages like Hindi, Tamil, and Gujarati, and continues to add more languages.
SanKash to hire 500 people
, a fintech startup that offers financial services to the travel market, said it plans to hire 500 people in India over the next six months. The hirings will be for the roles of sales to cater to its existing travel merchant base of 6,000 spread across 250+ cities and increase its ground presence at 150,000 travel points of sale.
Abhilasha Negi Co-founder and Head of HR, SanKash, said, “The travel and tourism market in India is anticipated to touch $125 billion by FY27 from an estimated $75 billion in FY20. Along with the surge, the travel merchant base is also witnessing blitzkrieg expansion. The fresh hiring is directed at catering to this segment.”
JobsForHer forms partnership with MoEngage
, a leading career platform that focuses on accelerating women’s careers, has partnered with MoEngage, an insights-led customer engagement platform, to personalise customer experiences by showcasing relevant and contextual job openings to women professionals on their platform.
Using MoEngage, JobsForHer aims to build customer cohorts based on a combination of user actions and journey stages. Therefore, garnering actionable insights to optimise conversion rates by bringing in the most relevant portfolios for pertinent job postings.
Bimaplan appoints Hemant Tathod as COO
, a Y Combinator-backed insurtech platform, has announced the appointment of Hemant Tathod as Chief Operating Officer (COO).
Hemant is a seasoned business executive with more than two decades of banking and startup experience. As a founding team member of Niyo Bharat (a FinTech startup), he led business growth and revenue generation strategies for over five years prior to joining Bimaplan. He also has extensive experience in sales and product strategy and was associated with global banks such as Standard Chartered & Barclays.
Turtlefin forms partnership with Continental Group of UAE
, the SaaS platform of insurtech startup Turtlemint, has announced a partnership with The Continental Group, one of the leading insurance intermediaries and financial services solutions providers in the UAE.
Under this partnership, Turtlefin will provide its SaaS platform modules, enabling The Continental Group's distribution teams to access relevant information and seamlessly customise proposals for their clients.
Through this strategic partnership, Turtlefin will onboard new insurers on its platform to provide access to the users of The Continental Group. A statement noted that this will lead to increased insurer participation bringing in more choices to clients to make the right decision on their insurance needs.
(The article will be updated with the latest news throughout the day)
Edited by Affirunisa Kankudti