Startup news and updates: Daily roundup (Sept 20, 2023)
YourStory presents the daily news roundup from the Indian startup ecosystem and beyond. Here's the roundup for Wednesday, September 20, 2023.
Climate tech startup Aurassure raises Rs 4 Cr in seed round
Bhubaneswar-based climate tech startup Aurassure has raised Rs 4 crore in a seed round led by Unicorn India Ventures.
Aurassure says it will use the capital to strengthen product capabilities by creating a data analytics team, acquiring product certifications for international scaling, and sales team expansion for growing reach to multiple cities.
The company uses an Internet of Things (IoT)-enabled systems to collect real-time data and provide accurate forecasts and updates on disasters and frequently changing weather patterns like floods, air pollution, and rainfall along with other climate data.
It has onboarded prestigious clients including Tata Realty, L&T Realty, P&G, Honeywell, IIT Bombay and Google. Aurassure says it has witnessed a 40% QoQ growth and has expanded its operations to cities such as Bhubaneswar, Chennai, Aurangabad, Rajkot and Delhi.
In the next 12 – 18 months, Aurassure plans on deploying over 1,000 sensor devices in eight cities across India.
The company also aims to expand in the Southeast Asia and Africa regions and subsequently, into Europe and the United States.
Healthtech startup Peping raises $400K led by Better Capital
Benagluru-based startup Peping, a digital healthcare platform focusing on gut health, said it has secured funding of $400,000. The undisclosed round was led by Better Capital.
Other angel investors who have joined the funding round include Kunal Shah, Sandeep Kumar Dinodiya, Ganesh Balakrishnan, and Shubham Mishra.
The startup says it is building a digital clinic that delivers solutions for managing dietary and lifestyle factors that contribute to conditions such as IBS, GERD, gastric, gastritis and fatty liver. The company aims to transform the delivery of this crucial aspect of treatment by implementing personalised and tailored care plans that examine various aspects, including lifestyle and test results, to diagnose and target the underlying causes of health problems.
Peping will use the fresh capital to advance the product and technology infrastructure. Additionally, it will also work towards building a team with deep industry knowledge, allocating resources for creative experiments and expanding its acquisition channels.
EvolveX invests in the Pre-Seed round of Deltafour
EvolveX, an early-stage programme founded by We Founder Circle, said it has invested in Deltafour, a unified process digitalisation platform.
Deltafour was part of EvolveX’s Cohort 3, launched in April 2023.
In its pre-seed funding round, Deltafour has raised an undisclosed amount, with EvolveX being the lead investor.
Other investors include We Founder Circle, as well as preeminent investors including Neeraj Tyagi, Bhawna Bhatnagar, Vikas Aggarwal, Abhinav Ayan, and Anirban Chakraborty.
Deltafour will use the capital to invest in team expansion, technology development, and go-to-market initiatives
The startup aims to redefine industrial maintenance, operation, and safety, propelling industrial excellence across process and manufacturing industries with its advanced proprietary solutions. It offers India’s First Bluetooth padlock-enabled digital lockout-tagout solution, according to a press release.
The Derma Co. achieves Rs 30 crore monthly revenue
Honasa Consumer Limited-owned skincare brand The Derma Co has reached Rs 30 crore monthly revenue in less than four years of its inception in 2020.
The brand has outpaced Mamaearth, the flagship brand from Honasa.
The Derma Co offers solutions to heal diverse skin concerns such as acne, acne marks, pigmentation, dull skin, ageing, hair loss, dandruff, and more.
T-Hub partners with Corporate Connections to drive innovation in India’s startup ecosystem
Startup incubator T-Hub has partnered with Corporate Connections, a network of industry leaders and forward-thinking organisations.
The partnership aims to strengthen the bridge between established corporations and the startup ecosystem, facilitating a seamless exchange of knowledge, resources, and investment opportunities.
Under this partnership, T-Hub will host exclusive startup showcases for Corporate Connections Members, creating a dedicated platform for innovative solutions. T-Hub startups will gain access to an extensive network of established entrepreneurs and industrialists from various parts of the country.
Additionally, T-Hub will extend invitations to Corporate Connections members, encouraging participation in programme demo days, and offering startups valuable growth insights. The incubator will also conduct investor education sessions to empower Corporate Connections members with insights for informed startup investments in a dynamic ecosystem.
Corporate Connections will nurture the ecosystem by facilitating regular interactions with T-Hub startups, fostering knowledge exchange, and active participation in community events.
NoBrokerHood joins ONDC Network
NoBrokerHood, a visitor, society and payment management app by NoBroker, has joined the Government of India's Open Network for Digital Commerce (ONDC) to revolutionise the daily shopping experience for society residents.
The combined synergies of ONDC’s protocol with NoBroker’s technological capabilities will focus on boosting hyperlocal commerce by enabling and empowering merchants to showcase and sell their products with ease to a wider audience. The move will also help society residents avail everything from food, groceries, daily essentials, etc. on one app.
NoBrokerHood has a customer base of 1.2 crore residents across 18,000 societies, according to a statement. The app is available for download on both Google Play and the App Store.
Meesho Mall processed around one crore orders in 6 months
Ecommerce startup Meesho said its initiative ‘Meesho Mall’, which helps users access branded products, is showing impressive growth.
“Since its launch last year, Meesho Mall has been growing by ~30% month-on-month, processing around 1 crore orders in the past six months. We believe that Mall will be a significant lever for monetisation in the future. Staying true to its vision, Meesho Mall aims to double down on accessibility, affordability, selection, and experience for its diverse stakeholders,” Dhiresh Bansal, Chief Financial Officer at Meesho, said in a press release.
Meesho Mall has partnered with over 400 national and regional brands such as Bajaj, Biotique, boAt, Decathlon, Bewakoof, Himalaya, Mamaearth, Milton, Paragon, Philips, Plum, Sirona, and WOW Skin Science, among others. Currently, the Mall is witnessing over 25 lakh unique transacting users every month, as per the company.
(The copy will be updated with the latest news throughout the day)