Startup news and updates: daily roundup (September 6, 2023)
YourStory presents the daily news roundup from the Indian startup ecosystem and beyond. Here's the roundup for Wednesday, September 6, 2023.
Healthy food startup Madmix raises pre-seed funding led by Prime Securities
Madmix, owned by Mel Sante Food Production, has raised an undisclosed pre-seed funding round at a valuation of about Rs 12 crore after two years of bootstrapping. The round was led by Prime Securities, Authum Investments, and Team India Managers.
The startup will use the funding towards marketing efforts, sales team expansion, and future product development.
Despite limited financial resources, the startup managed to expand its presence globally, reaching markets in Nepal, Hong Kong, New Zealand, and the US. Additionally, it has made a significant impact in India, with its products available in over 650 stores nationwide.
Magenta Mobility secures debt financing from SIDBI under Green Finance Scheme
, an electric mobility and EV charging solutions company, secured debt financing for about 350 EVs from the Small Industries Development Bank of India (SIDBI) under the Green Finance Scheme. The loan will help Magenta to scale up its deployment of cargo electric vehicles for last-mile deliveries across the Delhi-NCR region.
This funding for Magenta Mobility underscores the company's commitment to electrifying and decarbonising logistics in India while contributing to the national goal of a carbon-neutral nation. It will serve as a pivotal accelerator for Magenta Mobility's efforts in boosting EV adoption in the Delhi-NCR region.
Hybrid shifting acquires Pikkol, an AI-based technology-enabled B2C moving brand
Hybrid Shifting, which recently secured its first investment of $2.5 million from Transworld International, has acquired, an AI-based technology-enabled moving brand.
With this strategic acquisition, Pikkol, including its leadership team, without any layoffs, will continue to stay focused on further developing the technology and its product offerings for better customer experience.
Pikkol, founded and led by Deepu Chandran, an alumnus of IIM Bangalore, provides a hassle-free, transparent moving experience with limited human interventions.
PrepInsta promotes Vibudh Upadhyay to Head of Growth Strategy
Edtech companyhas promoted Vibudh Upadhyay to the position of Head of Growth Strategy.
Upadhyay, a BTech graduate in Mechanical Engineering from Galgotias College of Engineering and Technology, joined PrepInsta in June 2019 as a content developer and has risen to the position of content development manager in 2021 and became organic growth manager earlier this year.
In his new role, Upadhyay will oversee the content team, manage content production, do market research and trend analysis, and focus on enhancing organic website traffic and user retention.
LEAD partners with Rajasthan government to impart quality education
Edtech platformhas partnered with the Government of Rajasthan to help students of English medium schools to succeed and build their English speaking, reading, and writing skills. LEAD will work with over 3,000 Mahatma Gandhi Government Schools (MGGS) across Rajasthan to offer its one-of-a-kind English language programme.
As part of the partnership, MGGS schools in Rajasthan will gain access to LEAD’s English language lab, which includes smart TVs for classrooms, QR-enhanced books for students, and integrated content tablets for teachers. Students will also learn phonics, vocabulary, reading comprehension, writing expression, and grammar, and will cover 1.5 years of English skill growth in a year.
Spice Money, Wibmo launch UPI on PPI for Bharat
Fintech companyhas partnered with Wibmo, a PayU company, to launch 'Spice Pay,' a UPI solution tailored to empower Bharat.
This strategic collaboration aims to bridge the digital divide by expanding the power of the Unified Payments Interface (UPI) to rural India. Spice Money will also leverage its network of 12.7 lakhs+ Adhikaris to ensure that people in rural India can access Spice Pay and transact digitally even from the remotest part of the country.
Spice Pay will also streamline the challenge of mobile number seeding through its instant UPI ID creation process, which utilises eKYC for effortless registration.
Coding Ninjas' claims to upskill 1 lakh students
, an online upskilling platform, claims to have upskilled over 1,00,000 students who have embraced its courses. Data showed that professionals who have successfully completed Coding Ninjas’ courses were able to more than double their salaries and land jobs at some of the top companies globally.
On average, students have reported a 127% surge in their CTCs—equivalent to a remarkable 2.2X increase—with compensation going as high as Rs 50 lakhs per annum.
Moreover, Coding Ninjas' influence extends beyond conventional employment avenues, with 85 out of the 102 unicorns in India, including industry leaders like Paytm, Swiggy, Groww, and OfBusiness, benefiting from the Coding Ninjas alumni.
Boon collaborates with NITI Aayog's AtmaNirbhar Bharat for Water Innovation
, the IoT-enabled global water-tech startup, has collaborated with NITI Aayog through the AtmaNirbhar Bharat ARISE-ANIC programme.
This partnership aims to harness impactful research and innovation within the water sector to develop cutting-edge solutions for efficient water resource management, waste prevention, and the reduction of leakage and theft.
Through this deal, Boon aims to empower municipal authorities, water supply agencies, and communities at large to make informed decisions regarding water distribution and usage. The initiative contributes significantly to water conservation and marks a significant milestone in Boon's journey to #BetteryourWater. It continues to drive innovation, foster sustainability, and build a future where water is managed wisely and responsibly.
Bollywood star Anushka Sharma roped in by Women’s fashion brand W
Women’s fashion brand W on-boarded Bollywood actor and entrepreneur Anushka Sharma as its brand ambassador. With this partnership, the brand prepares to launch its festive campaign that merges the "warmth of festivities with the spirit of modernity."
The campaign talks about every festival having a story synonymous to the story of women. It captures the essence of women being the centre of every celebration, thereby urging women to cherish their individuality.
Speaking about the association, Anushka Sharma said, "I am happy to be a part of the W for Woman family as a brand ambassador. The brand's ideology resonates with my beliefs and values. The brand celebrates the essence of every woman, her unique story, her convictions, her beliefs, her challenges and her wins. To me, W for Woman is the embodiment of a thinking woman’s brand, reflecting the modern woman who embraces her roots—a woman who is truly Indian at heart and global in her outlook.”
ONDC, Google Cloud collaborate to advance ecommerce in India with generative AI
To drive innovation across India's ecommerce industry, ONDC (Open Network for Digital Commerce) and Google Cloud are collaborating on a new India-wide hackathon and extension of their existing ONDC initiative.
T Koshy, MD and CEO at, said, “We are at the cusp of revolutionising ecommerce. This hackathon will serve as an ideal launchpad, enabling us to discover numerous gifted individuals and organisations with inventive concepts. This, in turn, propels the drive for innovation for Bharat by solving countless pressing challenges faced by merchants and consumers both in metro cities and smaller towns."
"This hackathon is a step closer to our vision of forging an inclusive and accessible digital commerce arena for every Indian, transcending all backgrounds," he added.
Prominent social impact networks, individuals partner to create climate-resilient and inclusive Bengaluru
Citizens, civil society practitioners, and academia have partnered to launch ‘Ellara Bengaluru’, a community-driven coalition that will create initiatives to build a climate-resilient and inclusive Bengaluru city.
The coalition will work on enabling people across all wards to be fully equipped to tackle various economic and livelihood challenges caused by growing climate adversities. The initiative is backed by Mahila Housing Trust. Ellara Bengaluru will set its inaugural footprint in Shantinagar Ward 166.
Ellara Bengaluru, a name that identifies not only the Kannada identity but also resonates with the inclusive spirit of the forum, aims to take this city climate action plan across the ward level.
India Post partners with Shiprocket to strengthen ecommerce export ecosystem
The Department of Posts, as part of its ongoing initiatives to create an export ecosystem for ecommerce in India, has partnered withto enhance ecommerce exports by leveraging India Post's extensive presence and reliable shipping solutions.
The agreement was signed today in New Delhi in the presence of Alok Sharma, Director General, Postal Services, Manju Kumar, Chief Postmaster General Delhi, and Saahil Goel, Co-founder and CEO, Shiprocket, marking a significant milestone in India’s cross-border ecommerce landscape.
SWFI(R) invites Indian startups to raise capital at FORT North America 2023
Sovereign Wealth Fund Institute (SWFI) said it will hold its Family Office Round Table (FORT) North America 2023 in Dallas, Texas, on October 10, 2023.
As part of the event, SWFI will allow Indian startups seeking strategic partnerships and Series B institutional capital to pitch their entrepreneurial ideas to globally renowned sovereign wealth funds (SWFs), family offices, private equity (PE), and venture capital (VC) investors.
FORT North America 2023 is the largest family offices conference in Dallas and will witness the convergence of innovation and public and private wealth transcending geographical boundaries. The event will be held at The Star, the global headquarters of Dallas Cowboys (the world’s most valuable sports team).
Amazon India signs MoU with five state govts to empower persons with disabilities (PwDs)
India signed a Memorandum of Understanding (MoU) with five state governments, including Haryana, Maharashtra, Gujarat, Karnataka, and Tamil Nadu, to engage with employable persons with disabilities (PwDs) and enable their participation in the mainstream workforce.
The MoU, which extends until 2026, aims to provide skilling and employment opportunities to PwD candidates in the five states. Amazon India will provide PwDs with the needed support with on-the-job training, intervention, and an environment of acceptance and inclusion.
The opportunities will be provided across Amazon’s Operations Network, i.e., fulfilment centres, sortation centres, and delivery stations for various roles, including stowing, picking, packing, and sorting, among other roles.
Apollo Hospitals expands partnership with Google Cloud to boost India's healthcare ecosystem
said it expanded its partnership with Google Cloud to put healthcare in the hands of every Indian with Apollo’s digital platform, Apollo 24|7.
Built entirely on Google Cloud, Apollo 24|7 aims to deliver an omnichannel healthcare experience to people in India with telemedicine services, online doctor consultations, home delivery of medication, and improved clinician decision-making.
QSR Chain 99 Pancakes plans to open 100+ outlets in next 18 months
QSR chainis planning to open 100 + outlets in the next 18 months via Company Owned Company Operated (COCO) and franchise models, taking the total number of outlets of the brand to more than 140.
At present, 99 Pancakes has 40+ outlets in 10+ cities, of which 22 are operating on the COCO model. As part of the expansion plans, the brand will invest about Rs 20 crore and enter markets such as Delhi, Bengaluru, Ahmedabad, Mumbai, Pune, Hyderabad, Chennai, Nagpur, Nashik, etc.
Rackspace Technology appoints Reema Aggarwal as Country Head, Public Cloud for India
Rackspace Technology—an end-to-end, multi-cloud solutions company—has appointed Reema Aggarwal as the Indian Country Head of Public Cloud. Based out of Bengaluru, Aggarwal will spearhead the growth of the company's public cloud business in the country.
She brings over 20 years of industry expertise to Rackspace Technology, with a proven track record in business strategy, sales leadership, and improving operational efficiency. She has held leadership positions at BlueYonder (now part of Panasonic), Microsoft, Alibaba, Lazada, and Amazon.
Furlenco goes omnichannel, opens offline stores in Bengaluru
Furniture and lifestyle brandhas announced its expansion into the offline retail space with the opening of its flagship store in HRBR Layout in Bengaluru covering 5500 sq. ft. and another medium-sized store in HSR layout.
Furlenco intends to bridge the gap between its online presence and physical interaction, offering customers the opportunity to experience the products hands-on and make informed purchase decisions.
The store showcases a wide array of furniture options, from sofas to beds and dining tables, covering various price points and preferences. The store will allow customers to furnish their homes with comfort and style, with the option of buying brand-new and renting furniture.
(This article will be updated with the latest news throughout the day.)
Edited by Suman Singh