Startup news and updates: Daily roundup (January 31, 2024)

YourStory presents the daily news roundup from the Indian startup ecosystem and beyond. Here's the roundup for Thursday, January 31, 2024.

Startup news and updates: Daily roundup (January 31, 2024)

Wednesday January 31, 2024,

7 min Read

Funding

Aquaconnect raises $4M in pre-Series B funding round 

Aquaconnect, a startup focused on the aquaculture industry, has raised $4 million (Rs 33 crore) in a pre-Series B funding round led by S2G Ventures.


The company plans to use the capital to continue scaling its operations and enhance its coverage of the major aquaculture production states in India. It recently expanded its footprint in West Bengal, Uttar Pradesh, and Assam.


Aquaconnect said it achieved 4X revenue growth in the last fiscal year. The startup aims to double its Aqua Partner network consisting of rural entrepreneurs who provide last-mile assistance to farmers, in the next six months. It is also working to strengthen post-harvest linkage solutions and expand its product portfolio with farmer-focused innovations, formal credit services, and new products to amplify its reach and impact.

R&D platform Reslink closes first funding round 

Reslink, an R&D Platform dedicated to bridging the gap between industries and researchers, has closed its first funding round. The funding round was led by Chandigarh Angels Network and Azhar Iqubal, Founder of Inshorts and a recent judge on Shark Tank, along with KRS Jamwal.

The round also saw participation from notable investors including Abhishek Gupta, CEO of Turbotic, APAC, and ME, and Mudit Gusain, Director at Madison India Capital.

Reslink has assisted over 25 companies, including metaverse startup LOKA and eco-conscious venture Back to Basic Recycling, in enhancing their R&D capabilities.

venture capital, investor, early stage, funding, money, startup idea

Credit: Shutterstock

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Other news

GameTech Accelerate announces cohort of 15 shortlisted startups at GAFX

At the annual Gaming, Animation and VFX (GAFX) 2024 event in Bengaluru, Games 24x7, an online skill-gaming platform, shortlisted 15 startups for its GameTech Accelerate programme.

These include Brahman Studios, CBIT Original Gaming App, Credexon, Felicity, Geniuscrate Games, Mantis Pro Gaming, My Tournament, NoobStorm, Pixcell Play, Play CKT, PlayDa, Pro Shooter VR, Score Kount, Tolee, and Wega Labs.

Launched in December 2023 with the Karnataka government, 'GameTech Accelerate - The Future of Gaming' is an accelerator programme for promising startups in India's online gaming industry. With 200+ applications, 15 startups were selected across four focus areas—new games, real-time analytics, telemetry and personalisation; security and anti-heating measures; and community and social Integration.

The shortlisted startups will undergo a series of mentoring sessions conducted by experts from Games24x7, AWS, and Lumikai. The GameTech Accelerate programme will end with an exclusive pitch session for investors scheduled for March.

Physics Wallah (PW) partners with Karnataka govt’s Department of Minority Welfare

PhysicsWallah (PW), an edtech company, has partnered with the Department of Minority Welfare of the Karnataka government to empower 4,300 science stream students in 11th and 12th grades by preparing them for competitive exams such as JEE, NEET, and K-CET.

Online classes will be held in 84 schools across Karnataka, featuring smart classrooms and customised batches. Government teachers will provide in-class assistance. Additionally, eight offline centres will host Physics Wallah teachers to provide training sessions to students from Mysore, Gulbarga, Belgaum, Koppal, Raichur, and Dharwad.

This initiative falls in line with the Karnataka government's commitment to offer intensive two-year training for minority students, focusing on NEET, JEE, and K-CET exams. PhysicsWallah will provide training across centres, offering online and offline sessions for accessibility and quality education.

Asianet News Media and Entertainment rebrands to Asianxt Digital Technologies

Asianet News Media and Entertainment Pvt Ltd, a pan-India media-tech player, has rebranded itself to Asianxt Digital Technologies.

The move comes to reinforce the company’s tech and digital-first DNA as it expands into new products and markets. Asianxt has unveiled a new brand logo and identity. It will continue to provide coverage of news, entertainment and events across the globe.

Check Point Software launches Infinity AI Copilot 

Check Point Software Technologies Ltd, an AI-powered, cloud-delivered cyber security platform provider, has launched the first-generation Infinity AI Copilot. 


With the power of generative AI (GenAI), Infinity AI Copilot helps automate complex security tasks and provides proactive solutions to security threats. It reduces the time required for routine tasks and integrates seamlessly across the Check Point Infinity Platform, providing a unified security experience, said the company.  


It also performs AI-driven threat analysis, oversees all products across the Check Point Infinity Platform, and responds as naturally as a human for seamless interaction and task execution, added the company.

 

Infinity AI Copilot is currently available in preview, with a full launch expected in the second quarter. In future, it will include proactive assistance and autonomous policy management features.

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Over 90% of brands ignore customer pain points: ODN's analysis report

ODN, an ecommerce content creator, has come up with an ecommerce content analysis report. 

ODN's research reveals that 91.3% of brands ignore common customer pain points such as product quality, packaging, and image and text mismatch. About 84% lacked effective text content, while 67.5% failed to meet minimum image standards. Around 56.67% of brands were missing five crucial modules in their content, showing issues in both design and copy. Additionally, about 35.3% of the brands did not have any video on Amazon listing and 26% lacked dedicated brand stores, missing out on sales potential. 


The ODN report examined ecommerce brands' content across diverse marketplaces and 25 categories, including home and kitchen, beauty and wellness, and apparel. It analysed leading platforms like Amazon and Flipkart, based on titles, bullet points, descriptions, images, brand stores, storytelling, and enriched content, utilising tools like Helium 10, Nitti Gritti, and Amazon Brand Analytics.

Dhoni-backed Garuda Aerospace launches Droni, touted to be India’s smartest personal drone

Garuda Aerospace has launched Droni, which is said to be India’s smartest personal drone. 


Droni is a compact, foldable nano drone weighing under 250 g, packed with 11 intelligent flight modes, including a follow-me feature, circling, and time-lapse. Equipped with a high-quality 48 MP camera, wide-angle lens, and optical flow positioning, it is the company's first product in the consumer photography and cinematography drone sector. It comes with 60 minutes of flight time and level 7 wind resistance. It can be used one-handed when needed.


The drone is available on Amazon at an introductory price of Rs 85,000.

drones

Zoomcar introduces new product category with 50% lower pricing

Zoomcar, a marketplace for car sharing in emerging markets, has introduced a new product category on its platform called Thrift Store. 


This product category is available at up to 50% lower pricing for same-day bookings and up to 30-45% off for next-day bookings.


With this, Zoomcar aims to enhance affordability and accessibility for guests. Local hosts on the Zoomcar platform can use this feature to increase the usage of their vehicles during the weekdays, thereby increasing their overall earnings.

Adya.ai, Google Cloud partner to launch ATMA AppStudio for rapid ONDC adoption

Adya.ai, an Open Network For Digital Commerce (ONDC) technology solutions provider, has partnered with Google Cloud to launch ATMA (Aatmanirbhar Technology Marketplace by Adya) AppStudio. 

ATMA AppStudio is a self-serve portal that enables rapid ONDC app deployment, allowing businesses to quickly build and customise buyer, seller, issue and grievance management, reconciliation and settlement service provider, financial, and logistics apps. These apps span various domains such as retail, financial services, and mobility. They are then deployed on Google Cloud within a significantly reduced timeframe.

As of January 2024, despite 14,000 entities aiming to build apps on ONDC, less than 100 are live on the network. This indicates both eagerness and hurdles in embracing ONDC swiftly. Businesses face an average of one year to go live, raising costs and limiting participation, according to the company. The ATMA AppStudio self-serve marketplace aims to streamline the process.

Businesses can choose domains, create apps, optimise cloud hosting, design UI/UX, integrate with existing tech stacks, and launch quickly. ATMA AppStudio plays a crucial role in overcoming these obstacles related to technical build, integration, and deployment, said the company.

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


Edited by Swetha Kannan