Startup news and updates: Daily roundup (November 30, 2023)

Funding news

ShipGlobal raises $2.5M in funding from InfoEdge Ventures

Cross-border logistics platform ShipGlobal has raised $2.5 million in funding from InfoEdge Ventures, an early-stage VC fund backed by InfoEdge and Temasek.

The company said funds will be utilised to accelerate technology capabilities, augment business operations, and expand to other countries.

Co-founded by Aayush Anand, Angad Arora and Vaibhav Kapur in 2022, ShipGlobal helps Indian SMEs go global by providing them with cost-effective and reliable logistics solutions. The platform simplifies international shipping for SMEs in India, offering a one-stop shop for a range of services such as customs clearance, tracking, and real-time rates.

The company has expanded to over 15 regional offices in India and delivered over half a million packages. It has a gross merchandise value (GMV) of over Rs 3,000 crore.

“With this round, we are aiming to elevate our technology, streamline operations, expand export routes, and optimise our network,” said Aayush Anand, Co-founder and CEO of ShipGlobal.

OneDios raises Rs 6 Cr in bridge round led by Inflection Point Ventures

Onedios Services, an aggregator platform for customer care service, has raised Rs 6 crore in a bridge round led by Inflection Point Ventures and VCATs. The funds will be allocated towards onboarding retailers who will sell branded/OEMs extended warranties instead of third-party extended warranties.

OneDios connects dealers, distributors, brands, and consumers through its patented technology, enabling swift service bookings, complaint resolutions, and digital interactions across over 100 renowned brands.

“With ever-evolving technology, customers seek services at their fingertips across segments from banking, shopping, healthcare and more. However few services have been a time-consuming, and one such is the customer service of electronic products. OneDios bridges this gap with its unified platform through proprietary tech. It also offers unique brand-authorised extended warranties, rapid CRM integration, and a patented, in-house-developed platform,” said Ankur Mittal, Co-founder, Inflection Point Ventures.

"We have started onboarding retailers to sell OEM extended warranties in Delhi, Haryana, Uttar Pradesh, and Maharashtra. Voltas, Daikin, and Bluestar Brand shops are our first target," said Nitin Chawla, CEO and Co-founder, Onedios.

Homemade snacks startup PatilKaki raises funds led by Cap70 Angels

Homemade snacks startup PatilKaki has raised a fresh round of funding led by Angel Investing Network and Cap70 Angels, along with participation from serial entrepreneurs Agnelorajesh Athaide and Kailash Biyani.

PatilKaki plans to leverage the funds towards scaling operations, marketing optimisation, sales and distribution expansion among others.

On its part, Cap70 Angels provides mentoring, networking and strategic advisory expertise to promising startups.

Founded by Geeta Patil, PatilKaki was born from her homemade snack journey, which formally came into being during the pandemic in 2020.

“With increasing consumer inclination towards wellness-offering food products, PatilKaki is well-placed to address a wider market much beyond its existing presence,” said Athaide.

Deeptech startup Twyn raises $1.25M from JIIF, ah! Ventures, HEM Angels

Twyn, the phygital twin deeptech startup powering large manufacturers and OEMs, has secured $1.25 million in a pre-Series A round led by JITO Incubation and Innovation Foundation (JIIF) and ah! Ventures. Other marquee investors, include HEM Angels, Bestvantage and Beej Network.

The platform powers enterprises across auto, oil and gas, steel, pharmaceuticals, FMCGs, as well as smart city projects to deploy high-fidelity digital twins. It creates phygital twins that replicate a live and connected version of the physical asset and environment, and also brings insights from the digital twin to the physical environment for on-ground optimisation of machinery, inventory, and human resources for the manufacturers.

Twyn aims to deploy the fresh capital to expand across auto, petrochemicals and steel hubs in the Middle East and Europe. In addition, the startup will be strengthening its leadership team in India and in Dubai, to support its growth plans and market expansion.

Founded by Avi Dahiya, Twyn has been under gestation since 2021 and was incubated at the Dubai Internet City.

ONDC marketplace Bitsila raises pre-seed funding from Antler

Bitsila, the seller marketplace on Open Network For Digital Commerce (ONDC), has raised pre-seed funding from Antler and Phanindra Sama, Co-Founder of redBus.

The startup is founded by Dasharatham Bitla, Sooryah Pokkali, and Likhma Ram who previously built Bitla Software.

As a Technology Service Provider (TSP) on ONDC, Bitsila provides a platform for non-digital sellers to establish an online presence, creating branded websites and mobile apps to create customer reach. Bitsila also empowers a diverse ecosystem, including large retail houses, brands, logistics service providers, online retail aggregators and entrepreneurs to become a seller network participant on ONDC.

“We aim to empower 500+ large enterprises as network participants in the next 18 months, enabling a million merchants on their digital commerce journey through ONDC,” said Dasharatham Bitla, Founder and CEO of Bitsila.

Other news

PhonePe’s Indus Appstore powers up, onboards major game developers

PhonePe’s Indus Appstore has onboarded leading game developers, including Dream11, Nazara Technologies, A23, MPL, Junglee Rummy, and Taj Rummy.

The partnership aims to enhance the gaming experience for millions of users, providing a diverse range of games.

PhonePe’s Indus Appstore will get zero commissions on in-app payments, according to a statement from the company. Additionally, the platform's localisation feature ensures that these games offer content in the language of the user's choice.

Cashfree Payments launches biller solution to simplify interoperable bill payments

Payments and API banking company Cashfree Payments has launch its ‘BBPS-Biller Solution’, which facilitates and simplifies interoperable bill payment collection for Indian businesses. It is a single integration platform designed for businesses handling repeat payments, enabling them to get discovered on 150+ digital channels and 35 lakh+ offline collection centres on Bharat Bill Payment System and collect bill payments at scale.

The BBPS-Biller Solution leverages the BBPS network to reduce collection costs up to 4X, leveraging all cash and digital collection points seamlessly.

“At Cashfree Payments, we are committed to building innovative products and solutions that will empower businesses and strengthen the digital payments ecosystem in the country,” said Akash Sinha, CEO and Co-founder, Cashfree Payments.

IDFC FIRST, Hurun India release India's Top 200 Self-made Entrepreneurs 2023

IDFC FIRST Private Banking and Hurun India have launched the first edition of ‘IDFC FIRST Private Hurun India's Top 200 Self-made Entrepreneurs of the Millennia 2023’—a list of the 200 most valuable companies in India founded after the year 2000.

These companies are ranked according to their value, defined as market capitalisation for listed companies and valuations for non-listed companies.

“The list showcases the immense talent, innovation, and accomplishments of India's visionary founders, those who are propelling the nation's entrepreneurial ecosystem to new heights,” said Vikas Sharma, Head-Wealth Management & Private Banking, IDFC FIRST Bank.

“This list of entrepreneurs demonstrates the vibrance of Indian entrepreneurship across age groups, gender, and geography. 1/3rd of the list is aged under 40 and the eldest on the list is 80 years old," said Anas Rahman Junaid, MD and Chief Researcher, Hurun India.

Arvind Chandra joins Aliaxis as new Divisional CEO of India

Aliaxis, a company enabling water and energy through inventive fluid management solutions, has roped in Arvind Chandra to the Executive Committee. As the new Divisional CEO of Aliaxis India (Ashirvad Pipes), Chandra will report to Eric Olsen, Chief Executive Officer.

“Arvind brings an impressive 30-year global track record driving growth and profitability in a wide range of industries,” said Olsen, CEO, Aliaxis.

“Together with the Ashirvad team, we will drive growth with a strong focus on both sustainability and innovation, as we deliver a high-quality range of solutions that our customers expect,” said Chandra.

Arvind Chandra joins Aliaxis from his prior role at Minda Corporation as CEO of its largest business vertical in the automotive sector. During his tenure, the company registered a 400+% stock price gain with significant top-line and bottom-line growth.

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