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Startup news and updates: daily roundup (March 31, 2023)

YourStory presents the daily news roundup from the Indian startup ecosystem and beyond. Here's the roundup for Thursday, March 31, 2023.

Startup news and updates: daily roundup (March 31, 2023)

Friday March 31, 2023 , 6 min Read

Koo offers free lifetime verification for notable personalities

Indian microblogging app Koo App will provide free lifetime verification to all notable personalities who qualify.

This verification enable them to build trust with followers, protect reputation, and avoid impersonation on the platform, said Koo. This announcement comes amid Twitter's own policy changes regarding verification, after which users are expected to get a verified check mark on their profile.

"We are a merit-based platform and take pride in our platform's transparent methodology that recognises and celebrates eminence without a price tag. The Koo Eminence Tick is a prestigious symbol that cannot be bought and we are committed to safeguarding this digital right for all notable personalities," said Mayank Bidawatka, Co-founder of Koo.

Dream 11 reveals IPL contest with Rs 50 Cr prize pool

Dream11, a fantasy sports platform, has launched this season's Indian Premier League themed competition with Rs 50 crore in guaranteed prizes.

Its CEO Harsh Jain revealed the cash prize on Twitter, mentioning that half of the slots to participate in the competition have already been filled, with only a day to go before the contest begins.

The highest-ranking player will get Rs 1.5 crore in cash and an Audi car. So far, more than 13 million slots have been occupied, and each slot costs Rs 25 after a 50% discount.

Mumbai FICCI Ladies Organisation Appoints Archana Khosla Burman as Chairperson

Archana Khosla Burman has been appointed as the new Chairperson of the Mumbai chapter of the FICCI Ladies Organisation (FLO) for the year 2023-24. The appointment was made during the national change of guard ceremony held at FICCI House in Delhi on Friday.

Burman is a Founder Partner of Vertices Partners, a corporate law firm headquartered in Mumbai. Her areas of expertise include corporate commercial law, venture capital, and private equity investments.

She has outlined her goals for 2023-24, which include engaging with more women and youth in urban, rural, and underprivileged sections of society, making entrepreneurship a reality for women at all levels of society, and transforming the lives of women and youth in rural areas through vocational training, awareness drives, and holistic development.

Archana Khosla Burman Chairperson  FICCI Ladies Organisation Inbox

Airtel partners with India Post Payments Bank to bring banking to WhatsApp messages

Telecom firm Bharti Airtel has partnered with India Post Payments Bank (IPPB) to offer WhatsApp Banking Services for IPPB customers.

With this customers of Airtel can access banking services through mobile phones using the WhatsApp messaging platform with multi-language support.

Airtel IQ—a cloud communications platform—will deliver the solution to customers enabling them to engage with the bank on WhatsApp, along with voice and SMS channels.

The WhatsApp messaging service will allow customers to easily connect with the bank and avail banking services, including doorstep service requests and locating the nearest Post Office. IPPB has been working with Airtel to deliver up to 250 million messages per month to customers, many of whom are located in mofussil towns and Tier II,III cities.

Former RBI and SBI executives join slice as independent board director and advisor

Fintech firm slice has appointed Eugene Karthak as an independent board director and S Vishvanathan as advisor.

Eugene Karthak, who served as the Executive Director of the Reserve Bank of India, brings with him over 30 years of experience in various domains like banking regulation, supervision, financial inclusion, information technology, and currency management.

Karthak is presently the Director of the Indian Institute of Bank Management, an esteemed training institution for bankers. In his new role at slice, he will focus on delivering strategic guidance and fostering sound corporate governance practices.

S Vishvanathan, a banking and finance veteran with 37 years of experience, will guide strategic decision-making at slice. He has previously served as State Bank of India's Managing Director and Director on the Central Board. Earlier, he was Managing Director and CEO of SBI Capital Markets Limited. Vishvanathan will be forging a strategic roadmap for the fintech company and the ecosystem, recognising the importance of collaboration between banks and fintech firms in the future of financial services.

Amit Agarwal appointed Clover Infotech Chief

Clover Infotech, a technology services firm, has appointed Amit Agrawal as its new Chief Executive Officer for Clover Infotech Americas Inc. Amit has held executive positions at HCLTech and SaaSFocus America Inc. His appointment will enable Clover Infotech to expand into the American market, leveraging its expertise as an Oracle partner and a deep talent pool of over 4,000 consultants.

Agarwal plans to create more than 100 jobs in North America within the next six months and will assume his new role effective immediately.

Amit Agarwal

Marrow's founder Deepu Sebin exits firm

Marrow, a healthcare education and training platform, said on Friday that its founder, Dr Deepu Sebin, has resigned from the company in all capacities. After working closely with the board, Sebin has handed over the reins to Vineet Bagri, who has been appointed as the new CEO of the company.

During his tenure, Sebin contributed to advancing evidence-based practice and promoting continuous learning in medicine. He plans to take a short break and move on to investing and

advisory roles in healthcare.

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Teachmint launches TeachPay, a fintech platform for schools

Teachmint, an education infrastructure provider, has introduced TeachPay, a fintech solution for schools to regulate fee collection, providing school administrators with complete visibility of cash flow into its institute.

TeachPay offers two key features, namely TeachPay Credit and TeachPay Auto, to manage end-to-end fee collection for schools. TeachPay Credit allows parents to pay fees in smaller instalments while the school receives the entire fee upfront, while TeachPay Auto automates fee payments, minimizing the need for multiple reminders or missed payments.

TeachPay can collect and settle fees in different bank accounts with an auto split. It can also use payment modes such as QR codes, UPI, net banking, to collect ancillary fees.

With this, the platform is end-to-end encrypted to ensure the privacy of the personal credentials of parents, students, and schools.

TeachPay joins other features on the platform like fee management, attendance management, exam planner, admission management, teacher training, transport management, and more.

ixambee raises Rs 5 Cr in Pre-Series A round led by Inflection Point Ventures

Edtech startup ixamBee said it raised Rs 5 crore in Pre-Series A round led by Gurugram-based Inflection Point Ventures. The round saw participation from SAN Angels, existing investors in Mumbai Angels, Keyur Joshi (MakeMyTrip's Co-founder) and other angel investors.

The online learning company said it will use the funds for content development, technology building, and marketing. ixamBee had raised $286,000 and $115,000 in two angel rounds in April 2018 and June 2019 respectively while in March 2021, it raised $335,000 in a seed round. In January last year, the company received an undisclosed amount in a debt round from Caspian Debt.

Founded by Chandraprakash Joshi, Arunima Sinha, and Sandeep Singh in 2017, ixamBee provides an online platform that helps students prepare for competitive examinations to secure government jobs.

(The story will be updated throughout the day with the latest news.)


Edited by Kanishk Singh