Startup news and updates: Daily roundup (January 4, 2024)
YourStory presents the daily news roundup from the Indian startup ecosystem and beyond. Here's the roundup for Thursday, January 4, 2024.
Funding news
Medway Hospitals raises $5M
Chennai-based Medway Hospitals raised $5 million in an equity funding round led by Kyra Ventures and some family offices. It will use the funding to add more beds to its operations.
"Our focus has always been providing quality healthcare in Tier II cities... This investment will help us accelerate our expansion plans and reach 1,000 beds by 2026," said Dr T Palaniappan, Chairman of Medway Group.
The chain currently has 500 beds across eight hospitals in Tamil Nadu and Seemandhra. It specialises in critical care, orthopaedics, neurology, nephrology, neurosurgery etc., and also has a dedicated unit specialising in treating cardiovascular diseases.
Maidaan raises pre-seed funding
Social edutainment platform Maidaan raised an undisclosed seed funding round led by and EvolveX. also participated in the round, the startup said.
The peer-to-peer edutainment platform will primarily use the funds to further develop its products and "innovating on games and tournament formats."
Founded in 2022 by Judhajit Bal and Shashank Awasthi, Maidaan gamifies education and enables students to connect with others from their peer group over competitions and tournaments.
"By breaking down the boundaries between learning and gaming, with Maidaan, children can seamlessly blend education with play. It shows a bright and promising future not just to kids but to investors as well," said Rahul Wagh, Managing Director at Inflection Point Ventures.
Other news
New Microsoft keyboards to feature a Copilot key
on Thursday said keyboards on its new Windows PCs will come affixed with a new Copilot key to help people access the virtual assistant more easily.
The software maker had started delivering Copilot on PCs with Windows 10 and Windows 11, accessible via its pinned icon on the taskbar or by holding down the Windows and C keys.
The new feature will be rolled out on the new Windows 11 PCs from Microsoft's ecosystem partners beginning in late February.
BharatPe's Zillion launches rewards-as-a-service platform
Multi-brand loyalty program launched a rewards-as-a-serve (RaaS) platform for brands that have an existing loyalty programme but lack a platform where users can redeem the rewards.
The RaaS platform will allow brands to offer customers loyalty currency in the form of e-vouchers, products, air miles, utilities, etc. It will also eliminate the need for brands to partner with multiple other brands to offer redemption choices to their customers, the company, part of the Group, said.
"In a majority of cases, the redemption process is broken or very sub-standard with minimal redemption options as brands usually have a select set of options for customers to choose from," said Rijish Raghavan, CEO of Zillion, in a press release.
"Our rewards platform with over 250 choices in e-vouchers, over 4000 products, Air Miles etc., will enable these brands to offer a superlative loyalty experience to their customers," he added.
Tesla Power India to open 5,000 battery refurbishing centres by 2025
Tesla Power India is planning to launch 5,000 battery refurbishing centres called ReStore Battery by 2025 across India to extend the life of batteries in the country.
The company said its aim with the new store is to address the wastage of 10 crore lead acid batteries, scrapped and replaced every year in India costing the country Rs 40,000 crore.
The move "addresses both economic strain from battery replacements and environmental hazards linked to improper disposal," the company said.
The Gurugram-headquartered company will deploy its proprietary electro-chemical battery enhancement process to recycle the batteries, it added.
DroneAcharya to acquire Pune-based deeptech drone company PYI Tech
Drone startup is set to acquire another deeptech drone company, PYI Technologies, to further leverage its capabilities in the space.
DroneAcharya will hold a 51% stake in PYI Technologies, founded by Janhavi Sawant, a final-year student pursuing a BTech in mechatronics at Symbiosis Skills and Professional University.
The deal will help DroneAcharya to offer "customised, avant-garde solutions" to customers using drones.
First East/Northeast tech co Addble goes live on ONDC
Manipur-based commerce platform Addble has gone live on the platform as a seller.
Being listed on ONDC will enable the company to cater to more buyers nationwide and help sellers from categories, including grocery, F&B, agriculture, beauty and personal care, home, electronics, fashion, etc., to also join ONDC via Addble's platform.
"Joining ONDC as a Seller Network Participant aligns perfectly with our mission to democratise digital commerce and provide equal opportunities for businesses of all sizes, especially those in traditionally underserved regions like East and North East India," said Yaikhomba Ningthemcha, Founder of Addble.
Imphal-based Addble, founded in 2018, provides solutions such as inventory control, order fulfilment, customer engagement, PoS integration, etc., to retailers, D2C brands, wholesalers, etc.
EKA Mobility to manufacture 1,000 e-buses for GreenCell
Mitsui-backed startup has signed a deal with to supply 1,000 intercity e-buses over the next few years. EKA will supply buses in two categories: 12-meter and 13.5-meter lengths.
EKA will not only supply and sell these buses to GreenCell but will also be responsible for their servicing. The 1,000 e-buses will result in saving 32,400 tonnes of carbon dioxide emissions, the two companies said.
"Public transportation, especially intercity bus transportation, is the primary mode of transport for more than 50% of Indians. Electrification of public transportation will pave the way for cleaner air, quieter streets, and more efficient, convenient, safer, and cost-effective travel for all," said Sudhir Mehta, Founder and Chairman of EKA Mobility.
(This article will be updated with the latest news throughout the day.)
Edited by Suman Singh
