Startup news and updates: daily roundup (August 24, 2023)

YourStory presents the daily news roundup from the Indian startup ecosystem and beyond. Here's the roundup for Thursday, August 24, 2023.

Startup news and updates: daily roundup (August 24, 2023)

Thursday August 24, 2023,

5 min Read

Funding News

13SQFT raises $1M in pre-Series A round led by Inflection Point Ventures

13SQFT, a B2B platform for warehousing, logistics and industrial sectors, has raised $1 million in a pre-Series A round led by Inflection Point Ventures. The funds will be utilised to expand the commercial and technical teams, bolster the platform's technology, and elevate its brand presence.

13SQFT focuses on the unorganised and fragmented base of building materials, equipment and fittings for warehousing, aggregating demand for specialised warehousing needs. It is also building tech-driven designs for optimal space planning and estimation of costs to set up warehouses.

“We're excited to partner with the government, supporting national growth by creating the right facilities. Our goal is to help small businesses, startups, and Make-in-India companies succeed on our platform,” said Alok Bansal, Founder, 13SQFT.

“13SQFT is an innovative B2B platform that will streamline operations and provide end-to-end solutions for the logistics industry," said Ankur Mittal, Co-founder, Inflection Point Ventures.

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JIIF leads pre-Series A funding round in Ecowrap

Pooja Mehta, COO, JIIF

Pooja Mehta, COO, JIIF

JITO Incubation and Innovation Foundation (JIIF), a community-based angel network, has invested an undisclosed amount in a pre-Series A round in Ecowrap.

Ecowrap is a tech-based waste management solution entirely based on waste segregation at the source for HORECA (Hotel, Restaurant, Cafe) industry. The company’s business model aims to make waste management services viable and scalable by offering a comprehensive end-to-end solution on a single platform. This solution includes waste segregation at the source, supply chain management, and the production of upcycled products.

"This capital infusion will be instrumental in realising our expansion goals and allowing us to establish a presence in various cities," said Angraj Swami, Co-founder, Ecowrap.

"Ecowrap's innovative approach to waste management, centered around waste segregation at the source, has the potential to create a significant positive impact on our environment,” said Pooja Mehta COO, JITO Incubation and Innovation Foundation.

Y Combinator-backed Weekday secures $2.2M funding

Weekday, a sourcing engine on autopilot that drives seamless hiring through trusted references, has announced that it has raised $2.2 million in a seed round led by Venture Highway with participation from several influential angel investors. The Y-Combinator-backed startup will utilise the funds to bolster its current team thereby enabling more remote hiring. The funds will also be used to deepen Weekday’s footprint in the engineering market and its expansion into other domains.

The startup plans to focus on onboarding more candidates while expanding the company partnerships. By 2025, the team expects to onboard over 250,000 active job seekers and around two million passive seekers, backed by peer references for recruiters from 1,000+ companies.

“While most other company functions like design, product, dev tools, and sales have seen breakthrough products in the last five to six years, recruitment of tech talent still hasn't. We are partnering with Weekday as they try to change that,” said Aviral Bhatnagar from Venture Highway.

“We believe that a recruiting platform with “references” as the cornerstone is the solution that solves all hiring problems,” said Amit Singh, CEO and Co-founder of Weekday.

Other News

Uber appoints Arnab Kumar as Director of Business Development for India and South Asia

Ridesharing app Uber has appointed Arnab Kumar as Director of Business Development for India and South Asia.

Arnab Kumar, Director of Business Development, Uber India and South Asia

Arnab Kumar, Director of Business Development, Uber India and South Asia

Arnab joins Uber with more than 17 years of experience across the technology and financial services sectors. His professional journey includes building the India operations for Coinbase and leading India fintech investments and strategic initiatives for Prosus (formerly known as Naspers). Arnab has previously served as Programme Director at NITI Aayog where he contributed to the development of emerging technology initiatives including Aarogya Setu, India’s COVID-19 contact tracing app. He has also worked as an investment banker for Deutsche Bank in Singapore and New York and is an alumnus of Birla Institute of Technology Mesra and Indian School of Business Hyderabad.

Arnab’s appointment comes as the company completes a decade of operations in India and is focused on growing sustainable mobility options.

“I am excited to join Uber, which has transformed the way people move while creating earning opportunities for millions of people in India and across the region,” said Arnab Kumar.

Agritech Firm FarmERP Appoints Mahesh Jadhav and Vivek Pawar to Advisory Board

FarmERP, an agritech firm, has appointed Mahesh Jadhav and Vivek Pawar to its advisory board. This move aims to bolster the company's strategic vision for a technology-intensive transformation of agriculture and agribusiness.

Mahesh Jadhav brings 28 years of experience and currently holds a senior position in the Private Equity Group at Mubadala Capital, a sovereign wealth fund. His expertise lies in scaling businesses and fostering strategic growth, with significant investments in software, SaaS, and tech-enabled services firms.

Vivek Pawar, with over 30 years of executive management roles in the semiconductor industry, brings insights and global reach gained from leading the transformation of Sankalp Semiconductor into a renowned brand.

"The expertise of these industry veterans will play a pivotal role in advising and mentoring FarmERP on crucial matters that shape the company's future. Their visionary leadership and passion for technology-driven solutions will empower FarmERP to revolutionise agriculture and make a meaningful impact on farming communities worldwide," said Sanjay Borkar, CEO and Co-founder, FarmERP.

(This article will be updated with the latest news throughout the day.)

Edited by Kanishk Singh