Startup news and updates: daily roundup (Aug 7, 2023)
YourStory presents the daily news roundup from the Indian startup ecosystem and beyond. Here's the roundup for Monday, August 7, 2023.
Funding
Qoruz raises seed funding from Dexter Angels, IIM Indore, Ideotic Media
Qoruz, an influencer marketing and intelligence platform, has raised an undisclosed amount from Dexter Angels and prominent angel investors like IIM Indore, Ideotic Media, and others from the media industry.
With the investment amount, Qoruz aims to scale influencer marketing opportunities for brands and agencies across its network. It will use the funding to enhance its core business with tech and market expansion. Brands can run influencer campaigns effectively, connect with target audiences, and improve returns on ad spending.
Also, will strengthen the link between branded content and commerce through its marketplace and SaaS platforms, expanding its role to end-of-the-funnel activities.
Qoruz offers two solutions: 'Qoruz Business Suite' for influencer marketing insights and efficiency, and 'Qoruz Creator Marketplace' connecting brands and creators directly.
Expertons raises funding, acquihires Foxmula
, a skill tech startup, has raised an undisclosed round of funding from Hindustan Media Ventures, Echjay Family office, Amar Ujala, and existing investors like Ivycap Ventures, Iceland Venture Studio, Venture Catalysts, Ah Ventures, and others. The latest funding will be utilised for product development, SEO initiatives, and overall growth.
Founded in 2019 by IIT Bombay alumni Jatin Solanki and Vivek Gupta, Expertrons’ videobot technology platform connects users with over 7,500 experts from established corporates. Through the videobot, these experts will share career experiences and other insights to help users in getting their desired jobs, internships and business schools.
Expertrons leverages AI-powered recommendations to provide users with relevant videobots based on their backgrounds, college, domain of interest, and company preferences. Aspiring professionals can freely access these videobots and even schedule one-on-one calls with experts for personalised guidance tailored to their career aspirations.
In addition to securing funding, Expertrons announced acqui-hiring Foxmula, an upskilling company founded by Ayush Bansal.
Other news
IRCAI and AWS launch Compute for Climate Fellowship to fund startups using tech to address the climate crisis
The International Research Centre on Artificial Intelligence (IRCAI) and Amazon Web Services (AWS) are launching the Compute for Climate Fellowship to support startups using cloud computing and AI for climate solutions.
Selected startups will receive full funding for their proofs of concept. Applications are open, and proposals addressing climate risk, food security, biodiversity, climate-related health, circular economy, and ESG analytics will be considered.
The Compute for Climate Fellowship offers climate tech startups technical resources, expert teams, and access to advanced computing services and AI technologies, including generative AI and ML.
IRCAI and AWS seek proposals with innovative cloud computing ideas to tackle climate challenges in six key areas for global impact–climate risk and resilience, food security, biodiversity and conservation, climate-related health, circular economy and environmental, social, and governance (ESG) analytics
Fellowship applications are open until August 31, 2023, and have a chance to showcase at AWS' re: Invent conference in November 2023. Non-selected startups can access $5,000 AWS credits and training.
Cleartrip and Flipkart Health+ receive certification from BSI India
, a Flipkart company, and Flipkart Health+, the digital healthcare marketplace platform of India’s homegrown Flipkart Group, have been awarded the ISO/IEC 27001:2022 certification for their Information Security Management Systems.
Flipkart Health+ received ISO/IEC 27701:2019 certification for their Privacy Information Management System. Both Cleartrip and Flipkart Health+ earned these certifications for their commitment to protecting user information and ensuring top-notch data privacy.
ISO/IEC 27001:2022 is a global standard for Information Security Management System (ISMS), including cybersecurity and privacy protection.ISO/IEC 27701:2019 is an extension to 27001, focusing on Privacy Information Management System (PIMS), addressing privacy controls and guidelines.
InsuranceDekho appoints Divya Mohan as the Chief Human Resources Officer
InsuranceDekho (ID), an Indian Insurtech, has appointed Divya Mohan as the Chief Human Resources Officer. In her new role, she will be heading human resources (HR) at , and build the people function to effectively support the overall business plan and growth of the company.
Mohan aims at leveraging her expertise in change management, developing and managing a diverse workforce, leadership development, organisation effectiveness, and total rewards. She has 16+ years of HR experience in conglomerates and startups, including roles at Mahindra, OYO, and Innovaccer.
Cyient joins hand with Microsoft to Establish 'EnGeneer'
Cyient, a global digital, engineering and technology solutions company has collaborated with Microsoft to establish the "EnGeneer” Center of Excellence (CoE), using Azure OpenAI Service and Generative AI technologies.
The EnGeneer CoE aims to enhance engineering agility with automation and Generative AI, boosting productivity and quality. is integrating Generative AI into CyFast and CyArc, expediting validation, verification, and compliance for faster product development.
Through this collaboration, the companies aim to use OpenAI and Generative AI technologies across all Cyient platform solutions, including healthcare, sustainability, and connected products.
AnotherAcquisition acquires Nyxion.ai
Nyxion.ai, a Gurugram-based startup that makes mail marketing tools, has been bought by AnotherAcquisition. AnotherAquistion will acquire Nyxion.ai's business and tech.
Nyxion.ai caught the attention of Another Acquisition as a game-changing solution in the email marketing space, as it offers the same features and services as its competitors, but 87% cheaper.
"Nyxion.ai was born out of a vision to democratise AI-powered email marketing tools, focusing intently on user behaviour for optimising results, and uniquely leveraging AI to predict user sentiments," Siddhant Mohan, the Founder and former CEO of Nyxion.ai said.
"Our partnership with AnotherAcquisition not only accelerates our mission to, but also empowers us to build a more intuitive and sentiment-aware platform, driving superior marketing outcomes,” he adds.
Schneider Electric and Samridhi Group sign MoU to offer sustainable smart home solutions
Schneider Electric, which works in digital transformation of energy management and automation, have signed a Memorandum of Understanding (MoU) with the Samridhi Group Pvt. Ltd., to foster sustainable and technologically advanced smart home solutions.
Through this partnership, Samridhi Group plans to create energy-efficient and environmentally positive residential spaces powered by a plethora of products from Schneider Electric that include Wiser Smart Home Solution, Unica Pure, a premium range of wiring devices, low-voltage switch gears, etc.
Wiser by Schneider Electric is an innovative smart home solution, integrating electrical, multimedia, and telecommunications technologies for seamless control and energy efficiency. Schneider Electric's Unica Pure wiring devices offer safety, sustainability, and versatility.
Accel unveils SeedToScale 2.0
Accel has launched SeedToScale 2.0 as an open-source community-knowledge platform to empower future founders with insights to help them scale.
SeedToScale, incubated by Accel in India in 2020, curates regionally nuanced insights for entrepreneurs in India and South East Asia. With the upgraded version, Accel has transformed SeedToScale into an open-source community-knowledge platform. It comes with an improved UI/UX design.
The platform's updated information architecture allows users to find relevant content easily, and the redesigned visual language makes navigation smoother. Content is indexed by sectors, and a "Focus Mode" reduces distractions, aims to provide users with an immersive experience.
Additionally, there will be new content and formats which includes SeedToScale Specials, a two-part interview podcast series.
GoKwik partners with Flipkart-owned ANS Commerce
GoKwik, an ecommerce enabler, has extended its checkout solutions to Kartify, an ecommerce platform by Flipkart-owned ANS Commerce.
is offering the brands in the Kartify network access to its full-stack checkout services.
This integration aims to add value to ANS Commerce brands, enhancing customer experience and driving growth. With GoKwik’s full stack of enablement solutions, brands on Kartify can not only arrest RTO orders and abandoned checkout cases, but they can also boost conversions, reduce CAC and increase GMV growth.
GoKwik has built many industry-first features on their checkout such as multiple discount configurations, split COD payments, RTO risk intelligence, T+1 settlement period, etc., which aim to drive higher conversions, increase GMV growth, and reduce Return to Origin (RTO) rates.
Mswipe Technologies expands to UAE, partners with Etisalat by e& for uTap launch
Technologies, a POS and full-stack payment solutions company, has expanded to the UAE in partnership with Etisalat by e& to launch uTap.
uTap provides versatile payment solutions for merchants of all types. Their offerings include modern POS terminals for online and offline card payments, useful business management apps, and automation tools tailored for SMBs. With uTap, businesses can accept payments securely, integrate smoothly with current systems, and access various hardware options and services.
It also offers a range of hardware options, including point-of-sale (POS) payment terminals, barcode scanners and cash drawers, and managed services such as third-party integration, maintenance and repairs. The partnership also offers an array of value-added services, including cloud pay, table management, and customer management, to help businesses efficiently manage their operations.
uTap offers affordable payment plans starting from AED 50/month with no upfront fees. It offers flexible options for customised payment solutions.
(The copy will be updated with the latest news throughout the day)
Edited by Affirunisa Kankudti
