Startup news and updates: daily roundup (July 11, 2023)
YourStory presents the daily news roundup from the Indian startup ecosystem and beyond. Here's the roundup for Tuesday, July 11, 2023.
Funding
Okulo Aerospace raises $1M funding led by Ideaspring Capital
has raised $1 million in a funding round led by with participation from , Coimbatore Innovation and Business Incubator (Forge Innovation and Ventures), and a group of angels from Rockfort Ventures.
The funding will be used for strategic growth initiatives, including product development, team expansion, and establishing early traction with customers through targeted marketing and sales initiatives.
Okulo Aerospace Team
Bengaluru-based Okulo Aerospace, founded in 2019, is an innovator in the field of long-endurance unmanned aerial vehicles (UAVs). By optimising operations, enhancing situational awareness, and aiding in critical defence operations, its aerial vehicles enable stakeholders to make informed decisions with speed and precision.
Curefoods invests in Millet Express
Cloud kitchen operator has invested in Millet Express, a fast-growing brand focused on promoting healthy millet-based food products. With this strategic investment, Curefoods plans to expand the Millet Express offerings to both its online and offline fronts, thereby introducing a wide range of millet-based products that cater to the evolving tastes and preferences of consumers.
This collaboration between Curefoods and Millet Express allows both brands to capitalise on their respective strengths, creating a mutually beneficial partnership.
Adding to the credibility and expertise of the brand, Millet Express is backed by the Indian Council of Agricultural Research (ICAR).
InfoEdge subsidiary invests about Rs 1 Cr in healthtech startup BrainSightAI
RedStart Labs, a wholly-owned subsidiary of technology company (India), has invested close to Rs 1 crore in Bengaluru-based health technology startup BrainSightAI, according to a BSE filing.
The company holds a 4% stake in BrainSightAI on a fully converted and diluted basis. However, the aggregate shareholding of the company after the current investment cannot be estimated, the filing further stated.
RedStart has agreed to invest an aggregate amount of Rs 98,94,000 by way of subscribing to convertible notes.
InfoEdge is the parent company of online classifieds such as Naukri.com, matrimony site Jeevansathi.com, and 99acres.com, a property marketplace.
Incorporated in 2019, BrainSightAI provides evidence-based treatment hooks for neurosurgeons, psychiatrists and neurologists through artificial intelligence.
VehicleCare secures undisclosed pre-Series A investment led by JITO Angel Network
(JAN), promoted by JITO Incubation and Innovation Foundation (JIIF), has led the pre-Series A funding round in , an online auto service and damage repair platform.
The company plans to utilise the infusion to enhance its proprietary technology, allowing for seamless integration with an expanding network of workshops across the region.
Furthermore, the investment will support extensive marketing campaigns, reinforcing the brand's presence and driving customer acquisition.
Founded in 2019, VehicleCare offers a range of services and solutions in the car service and repair space. Its digital platform connects customers with nearby service centres, enables appointment booking, and provides real-time tracking of service requests. It also offers a claim management system for businesses and a fleet management solution to streamline operations.
Angel Investors acquires co-working space Let’s Work for an undisclosed amount
Let’s Work has been acquired by Angel Investors for an undisclosed amount.
Founded in 2018 by Kushagra Awasthi, Let's Work, a modern co-working space, offers entrepreneurs and professionals a shared work infrastructure.
Other news
AyushPay appoints former Dineout Co-founder Vivek Kapoor as Co-founder and CBO
(formerly known as DoctCo), a healthcare solutions provider, has appointed Vivek Kapoor as its new Co-founder and Chief Business Officer. With the addition of Vivek Kapoor, AyushPay is poised for rapid growth and innovation, the company said in a statement.
According to the company, under Kapoor's leadership, AyushPay has expanded its portfolio by introducing innovative solutions that address critical healthcare challenges.
Kapoor, a former Merchant Navy Officer and Co-founder of , brings a wealth of entrepreneurial experience for addressing real-world problems, the company said. His appointment marks an exciting milestone for AyushPay as it continues to expand its presence in the healthcare sector, it added.
CleverTap appoints Sidharth Pisharoti as Chief Revenue Officer
, an all-in-one engagement platform, has announced the appointment of Sidharth Pisharoti as the new Chief Revenue Officer.
In his new role, Pisharoti will be responsible for driving CleverTap's growth across India, META, and Asia Pacific regions, as well as designing and executing the company's go-to-market strategy.
Sidharth brings a wealth of experience in the technology and software industries, with a strong focus on revenue generation and driving sales. In his career spanning two decades, he has a proven track record of leading sales teams across Asia Pacific, Europe, and LATAM regions. His expertise in business development equips him to accelerate the next phase of CleverTap's growth journey within these regions.
Ampere electric scooter crosses two lakh customers
Greaves Electric Mobility Private Limited (GEMPL), has achieved more than 200,000 secondary sales of its "Ampere" brand electric two-wheelers as of the first quarter of fiscal year 2024.
In April, the company announced surpassing the 100,000 sales milestone of its "Ampere" brand electric two-wheelers in the fiscal year 2023.
With a diverse product range that includes Zeal, Magnus, and Primus, Ampere caters to the specific needs of personal mobility and last-mile ecommerce customers.
Arzooo Pro Finance
Arzooo launches Pro finance
B2B retail tech platform has launched its fintech service Arzooo Pro Finance. Pro Finance will address two prevalent pain points faced by offline retailers: driving up in-store sales conversion and upselling higher-value products to aspirational shoppers.
Arzooo has partnered with several leading banks to bring bank-led consumer offers to offline retail embedded in its checkout solution, Pro Finance, where offline customers will also gain access to exclusive bank offers from top banks.
It's a subscription-based service enabling retailers to choose from annual plans and is available to subscribe to on Arzooo through both the Google Play Store and Apple App Store.
Crypto tax platform KoinX partners with ClearTax
, a platform specialising in crypto taxation, portfolio tracking, and accounting, has announced its strategic partnership with ClearTax.
The partnership between KoinX and ClearTax will allow users to enjoy the advantages of ClearTax's specialised tax filing services.
KoinX users can also use ClearTax's features at special prices, with access to a simpler and faster method of calculating crypto taxes and filing tax reports with expert guidance.
Founded by Punit Agarwal, KoinX helps break down overly complicated crypto tax calculations into easy-to-understand tax reports. To date, KoinX has processed over 10 million transactions worth $8 billion.
The startup is backed by notable members of the startup world like Sandeep Nailwal, Maninder Gulati, and Navin Gupta.
Strata enters into a strategic partnership with India Land and Global Group
has announced a strategic partnership with India Land and Global Group. With this partnership, Strata aims to strengthen the asset supply, increasing its presence across the region.
Through this partnership, Strata is planning to raise more than Rs 150 crore in phase 1 for a Grade-A office asset in Pune's Hinjewadi. This strategic partnership with two key developers in the commercial real estate segment will enhance Strata's presence across Maharashtra and southern India in the coming year.
India Land and Global Group own multiple commercial properties spread across Maharashtra and Tamil Nadu.
(This article will be updated with the latest news throughout the day.)
Edited by Megha Reddy
