Startup news and updates: daily roundup (July 14, 2023)
YourStory presents the daily news roundup from the Indian startup ecosystem and beyond. Here's the roundup for Friday, July 14, 2023.
Funding news
AayushBharat raises seed round
AI platform AayushBharat has raised undisclosed seed funding from JITO JIIF and other angel investors. It will use the funds to grow, introduce new features, launch a new range of products, and introduce a new subscription model.
, which operates a website that helps patients with chronic illnesses connect with Ayurvedic doctors, said it will also use the funds to accelerate the development and expansion of its wellness property, AayushRetreat.
Other news
Mufti Jeans brand owner Credo seeks IPO to raise Rs 3.9 Cr
Credo Brands, owner of Mufti Jeans, has filed a Draft Red Herring Prospectus (DRHP) with market regulator SEBI to raise Rs 3.9 crore in an initial public offering (IPO).
The IPO has a face value of Rs 2 with 19.63 million shares being sold by the company's promoters and other shareholders.
The company reported revenue of Rs 498.18 crore for FY23, up 46.02% from the previous year, while its net profit more than doubled to Rs 77.51 crore in the same year.
DAM Capital Advisors, ICICI Securities, and Keynote Financial Services are the joint bookrunners for the IPO. Credo plans to list on the BSE and the NSE.
Visa launches women-focussed grants programme
US-listed Visa has launched a new grants programme to support women-led businesses in India and help them fund, run, and grow their small businesses. It will offer three winners of the grant $10,000 each.
"Bringing the She's Next Grants Programme to India, we believe, will strengthen our support for women-led businesses that face barriers to access and opportunity, be it for funding, mentorship, or networking," said Sandeep Ghosh, Group Country Manager of Visa's India and South Asia business.
Delta Electronics appoints heads of EV charging biz
Power and energy management company Delta Electronics India has appointed Manjula Girish as Head of EV Charging and Photovoltaic Inverter business unit.
Girish will report to Niranjan Nayak, the company's managing director. Girish comes from Schneider Electric, after having worked with Mouser Electronics.
AngelOne appoints ex-Apple, Infosys exec as CXO
Brokerage company AngelOne has appointed Deepak Chandani, a product and engineering veteran with over 25 years of experience, as its new chief data office, the company said in a press release.
Chandani will oversee AngelOne's data and analytics strategy and its AI/ML initiatives.
In the past, he has worked with top-tier companies such as Apple Inc, Infosys, AppDirect, Teradata, UBS, British Petroleum, etc.
Myntra to onboard 200 D2C fashion and lifestyle brands
Ecommerce platform will onboard 200 digital-first, made-in-India D2C brands across the fashion, footwear, and home and accessories sections over the next four months.
Under its "Myntra Rising STARS" programme, the company aims to help smaller D2C gain visibility—on and off the app—and grow.
Brands that apply to Myntra's programme will be shortlisted on the basis of size, social media following, and uniqueness, the company said.
The 200 D2C brands will also get access to Myntra's services, including dedicated fee-based strategic account management consultation, insights, business tools such as M-Express, working capital support, access to a dedicated Rising STARS store on the app, access to Myntra's celebrity and influencer assets, Myntra Studio, a content distribution platform, etc.
Rare Rabbit, BlissClub, Fablestreet, Neemans, Suta, The Souled Store, and Bewakoof are some of the brands that will be featured on the platform.
Google Play Games beta on PC launched in India
Google Play has launched the beta version of Games on PC in India to enable players to play games across platforms seamlessly. Players can access these mobile games across their phones, tablets, Chromebooks, and personal computers, Google Play said.
The beta version will also be launched in 60 new regions.
The beta was first rolled last year in limited geographies to test the waters. Based on customer feedback, Google Play said it has added several new features, such as keyboard remapping, and lowered the minimum spec required to operate Google Play Games.
BookWater names Nambi Narayanan as advisor, brand ambassador
IoT-powered water quality delivery startup said it has onboarded ex-ISRO scientist Nambi Narayanan as its advisor and brand ambassador.
"With BookWater, drinking clean water is no longer rocket science. BookWater, with its connected can technology, is solving fundamental problems concerning drinking water. I'm happy to be associated with a brand with such noble intent and purpose," said Narayanan, commenting on his association with the startup.
BookWater was founded in 2020 by Bharath Govindaraghavan to facilitate access to high-quality and safe drinking water in the form of smart, connected cans delivered to people's doorsteps. These cans are upcycled into t-shirts after 30 uses.
BookWater is currently available in select areas in Chennai.
(This article will be updated with the latest news throughout the day.)
Edited by Suman Singh
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