Startup news and updates: Daily Roundup (Nov 9, 2023)
YourStory presents the daily news roundup from the Indian startup ecosystem and beyond. Here's the roundup for Thursday, November 9, 2023.
Natch secures Rs 3 Cr in seed funding
Clean-label snacking brand Natch has secured Rs 3 crore in seed funding led by Artha Venture Fund, with significant participation from the DSP Family Office.
The company said the funds raised will be deployed to extend its omnichannel reach, enhance distribution channels, intensify marketing endeavours, and drive innovation in product development.
Established in 2017 by Matthew Taff and Meher Vakil, Natch specialises in offering a diverse range of snacks tailored for health-conscious and discerning consumers. The brand claims its products are natural, gluten-free, vegan attributes, being free from artificial flavours, preservatives, trans fats, and non-GMO.
Natch's mission is to bring indigenous ingredients to a global audience, filling the market gap for high-quality, clean-label snacks.
O' Be Cocktails to raise undisclosed amount in pre-Series A round
, a startup specialising in ready-to-drink cocktails, is in the process of securing an undisclosed amount in a pre-Series A round, led by Inflection Point Ventures. The funds will be allocated towards enhancing capabilities, building the team, and venturing into new markets.
Mitesh Shah, Co-founder, Inflection Point Ventures, says, “Indian market is witnessing a steady growth in alcoholic segment post pandemic years. Ready to drink cocktails is an emerging category which is not much explored and has huge market potential. With O' Be Cocktails’ range of classic cocktails, it promises to be a go to product for youngsters looking to socialise with premium cocktails. IPV aims to extend their support and help the company expand geographically”.
O' Be Cocktails is operational in nine states in India and Bhutan. It is supported by a network of 22 private distributors and two government contracts, ensuring their products are readily accessible in over 1,700 premium wine outlets.
HostBooks appoints Abhijit Dutta as CSO and advisor to Board
SaaS-based accounting platform HostBooks has appointed Abhijit Dutta as its Chief Strategy Officer and advisor to the board. With his appointment, aims to revolutionise its growth strategy, strengthen its leadership position, and acquire a significant marketshare across international markets.
Abhijit Dutta brings to the table more than 28 years of experience spanning sales, operations, marketing, and communications across various industries. In his new role, he will spearhead sales, development, and leadership operations at HostBooks. Leveraging his expertise in devising and implementing successful business strategies, Abhijit is poised to guide HostBooks on a path of profitable growth and enhance its presence in international markets, particularly in the Middle East and Southeast Asia.
“Abhijit commands an impressive track record in overseeing diverse operations across multiple globally renowned companies. His expertise will empower us to achieve profitable growth both domestically and internationally and drive us to improve the focal areas. The domain knowledge and network he brings to the forum will enable us to solidify our position as the leader in the automation software space,” said Biswajit Mishra, Co-founder of HostBooks.
Reliance Retail’s Tira debuts in Chennai
Reliance Retail's omni-channel beauty retail platform, TIRA, has made its debut in Chennai, marking its presence at Palladium Mall. This expansion adds to its existing locations in Mumbai and Hyderabad.
TIRA aims to offer an enhanced shopping experience by curating a diverse selection of global and local beauty brands for contemporary customers. The brand distinguishes itself by incorporating cutting-edge technology to transform the beauty retail landscape.
In its ongoing efforts to redefine beauty retail, TIRA said it is committed to creating an inclusive and empowering beauty journey for all customers. The TIRA app has surpassed five million downloads. Additionally, TIRA's extensive coverage extends to 98% of pin codes across India, ensuring prompt deliveries to customers in over 100 cities.
Garuda Aerospace to launch retail drone showrooms
Garuda Aerospace is stepping into offline retail with the inauguration of company-owned outlets. The inaugural flagship retail outlet is set to open in Chennai, Tamil Nadu. Complementing this launch is the introduction of Garuda Aerospace's innovative Service on Wheels, ensuring a seamless and convenient after-sales service.
also plans to establish at least 400 retail outlets and mobile drone centers by 2024. This strategic expansion aims to enhance availability and accessibility across nearly every district in India. Garuda Aerospace's flagship stores will provide high-quality and precision-oriented drones, with a specific focus on contributing to India's agriculture economy.
“Our entry into offline sales is a milestone for us at Garuda Aerospace. This investment is a significant step forward for us as a company as it takes us closer to our target buyers. Our flagship stores will help us take our consumers’ experience to a whole never, unmatchable level," said Founder and CEO Agnishwar Jayaprakash.
"As a company, we are committed to not only revolutionising the drone industry but also fostering a culture of technological exploration and innovation across India. We aim to inspire the next generation of innovators and contribute to India's progress in technology on a global level," he added.
(The copy will be updated with the latest news throughout the day.)
Edited by Megha Reddy