Startup news and updates: daily roundup (Sept 8, 2023)

Funding News

Actor Parineeti Chopra invests in Tritiyaa Fine Jewellery

Bollywood actor Parineeti Chopra has invested in Tritiyaa Fine Jewellery, the brainchild of celebrated entrepreneur Kanthi Dutt. The amount of funding is undisclosed

Entrepreneur Dutt unveiled Tritiyaa Fine Jewellery, an opulent jewellery boutique brand on Friday in Hyderabad.

“My love for jewellery defines the celebration of life’s precious moments. At Tritiyaa, every piece is a masterpiece and each moment is an occasion. We offer a very exclusive gold and diamond jewellery collection, including uncut, Victorian, rare precious stones. Our partnership with Parineeti will take Tritiyaa to greater heights and I can’t contain my excitement," Dutt said.

Schneider Electric Energy Access Asia co-leads investment in Biofuels Junction

Schneider Electric, a global leader in energy management and automation's digital transformation, has announced a strategic equity investment in Mumbai-based Biofuels Junction through Schneider Electric Energy Access (SEEAA), an Asia-focused clean energy fund co-financed by Norfund, EDFI MC, and Amundi.

This partnership underscores Schneider Electric's commitment to supporting Biofuels Junction's mission of curbing stubble burning and repurposing agricultural waste into solid biofuels.

Biofuels Junction is a pioneering clean-energy enterprise specialising in the production and aggregation of solid biofuels, such as briquettes and pellets derived from agricultural residues. These eco-friendly alternatives are aimed at replacing fossil fuels across various industries. 

GOAT Brand Labs makes 100% acquisition of Frangipani

GOAT Brand Labs (GBL) has completely acquired the remaining stake in Frangipani from its founders, honouring all terms from the original plan laid out during the majority acquisition in 2021. 

Frangipani, the children's nightwear and loungewear brand, was founded in 2012 by Sunaina Patel and Mansi Kilachand.

"Sunaina and Mansi have played a pivotal role in growing Frangipani over the last 10 years. With GBL taking full control, we will continue using all our D2C platform capabilities to accelerate the brand for the next level of growth. I wish the founders the very best and thank them for all their efforts in bringing the brand to this point," Rishi Vasudev, CEO and Co-founder, GOAT Brands Labs, said.

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Other news

AIBI appoints Mahavir Lunawat of Pantomath Capital as Chairman

Mahavir Lunawat, Managing Director of Pantomath Capital Advisors Pvt Ltd, has been appointed Chairman of the Association of Investment Bankers of India (AIBI) for a two-year term commencing in September 2023. 

AIBI, the sole representative of investment banking to SEBI and statutory authorities, also appointed Arjun Mehra, MD of J.M. Financial, and Mr. Prem D’Cunha, SVP and Head—ECM Execution at ICICI Securities, as Vice Chairmen. 

Lunawat, an industry veteran with 20+ years of experience, is known for his leadership in numerous M&As, corporate restructuring projects, and management of over 100 IPOs. 

Schwing Stetter India partners with VIT BTech to offer BTech in manufacturing 

Schwing Stetter India, a prominent construction and concreting equipment manufacturer, has entered into a Memorandum of Understanding (MoU) with Vellore Institute of Technology (VIT), Vellore. 

As part of this initiative, Schwing Stetter India will sponsor over 25 employees with diploma-level qualifications to pursue a Bachelor of Technology (BTech) degree in manufacturing engineering. The employees will receive 50% sponsorship over the course of the 3.5-year degree programme.

In addition to financial support, VIT will facilitate faculty visits to Schwing Stetter India's Global Manufacturing Hub (GmH) in Cheyyar for instructional purposes. Employees will also have the opportunity to spend two weeks at VIT's campus, gaining exposure and collaborating on projects with fellow students.

The event was graced by Dr G Viswanthan, the esteemed Chancellor of VIT, and V G Sakthikumar, Chairman and Managing Director of Schwing Stetter India. Sankar Viswanathan and Dr G V Selvam, Vice Presidents of VIT, extended their honours to the Schwing Stetter delegation.

Atlassian announces promotion of Avani Prabhakar to Global HR role 

Atlassian Corporation, a leading provider of team collaboration and productivity software, announced the promotion of Avani Prabhakar to Global Head of Talent and HR Business Partners. 

In this newly established position, Prabhakar will prioritise enhancing performance as the company expands, streamlining operations within talent and employee programmes, and expanding the reach of the company's diversity, equity, and inclusion (DEI) initiatives. She will oversee a team of around 100 professionals responsible for Human Resource Business Partners, Employment Relations, Talent, M&A, and DEI efforts across Atlassian's worldwide presence.

NAREDCO Maharashtra to launch nation’s first RealTech Fund 

NAREDCO Maharashtra developers are gearing up to launch the nation's inaugural RealTech Fund (RTF) during their annual event, The Real Estate Forum 2023. Initially endowed with a corpus of Rs 50 crore, the fund's size will adjust based on market response. This pioneering fund aims to accelerate innovation and technological advancement within the Indian real estate sector, promising to invigorate its growth.

To be held on September 15, at the opulent St. Regis Hotel in Mumbai, the Second Edition of The Real Estate Forum aspires to exert an even greater impact, shaping the future of Maharashtra's real estate industry. The event's inauguration by Atul Save, Minister of Housing, Government of India, is eagerly anticipated, as he is expected to illuminate the government's vision for the sector.

Startup Odisha's Flagship Initiatives Startup Yatra and Startup Xpress 2023 

Startup Odisha, an initiative of the MSME Department, Government of Odisha, has unveiled the latest edition of its flagship programs, Odisha Startup Yatra and Startup Express 2023. These initiatives, set to be inaugurated by Chief Minister Shri Naveen Patnaik on September 11, have a primary focus on nurturing and empowering young talent at the grassroots level in the fields of innovation and entrepreneurship, enabling them to tap into the vast opportunities within the startup ecosystem.

With an extensive outreach plan, including Van Camps and Boot Camps to discover innovative concepts, Startup Odisha will engage with educational institutions across all 30 districts in Odisha, encompassing over 200 colleges and 60 schools, impacting the lives of more than 25,000 students. These initiatives will comprise 200+ van camps in colleges, 60 van camps in various schools, and over 120 boot camps, resulting in the generation of more than 3,500 ideas.

Commenting on the importance of Startup Yatra 2023, Industries, MSME and Energy Minister, Shri Pratap Keshari Deb said, "As Odisha marches towards its mission of 5000 Startups by 2025, Odisha Startup Yatra and Startup Xpress 2023 will be pivotal in bringing innovative ideas to the forefront. With a track record of nurturing innovation, fostering entrepreneurship, and providing robust support to women entrepreneurs, these initiatives stand as a transformative experience, poised to accelerate the startup ecosystem's growth and success in the state.”

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