Startup news and updates: Daily roundup (January 5, 2024)

YourStory presents the daily news roundup from the Indian startup ecosystem and beyond. Here's the roundup for Friday, January 5, 2024.

Startup news and updates: Daily roundup (January 5, 2024)

Friday January 05, 2024,

3 min Read

iD Fresh Foods appoints Rajat Diwakar as it's India CEO

Fresh food maker iD Fresh Food has appointed Rajat Diwakar as its India CEO, the company said on Friday.

Prior to his appointment at iD Fresh Foods, Diwakar served as the Managing Director of Marico Bangladesh Limited. He also has over two decades of experience working at the helm of FMCG firms.

Spirit Aeronautical Systems and Garuda Aerospace ink a strategic partnership

Manufacturer Spirit Aeronautics and spacetech firm Garuda Aerospace have entered into a strategic partnership to expand market reach, foster innovation, and facilitate the exchange of technology, experience, and best practices, the companies said in a statement.

Ritesh Pai appointed as CEO of International Payments at PhonePe

Payments firm PhonePe on Friday said it has appointed Ritesh Pai as the CEO of its international payments division.

"Ritesh has been an early believer and staunch supporter of the company and was very instrumental in our early UPI success story. I'm delighted that he's joined us to lead our international growth plans. I would like to wish him the very best in his new role," said Sameer Nigam, CEO and Founder of PhonePe in a statement.

Before PhonePe, Pai headed Products and Solutions at TerraPay as its President.

Namma Yatri partners with Bengaluru City Police to launch a women driver programme

Auto booking app Namma Yatri has launched Mahila Shakti—a programme focused on introducing more women drivers. This programme was introduced in collaboration with Bengaluru City Police.

This programme offers a comprehensive one-month training course that covers practical driving, traffic laws, safety, and vehicle maintenance. It also supports women in starting their own driving businesses.

Once women complete the programme, Namma Yatri offers them electric autos on a nominal daily rent and facilitates low-interest vehicle ownership through financial institutions.

CoinDCX sees 2000% surge in deposits since December 28

Cryptocurrency exchange CoinDCX has witnessed a 2000% surge in crypto deposits on its platform since December 28, 2023. As per the company, this rise was attributed to escalating apprehensions among users regarding non-compliant offshore exchanges, intensified by the recent issuance of compliance Show Cause Notices by the Financial Intelligence Unit India (FIU IND).

"We have streamlined the process of crypto deposits, ensuring a seamless transfer experience from other platforms. Additionally, we are introducing incentives and delivering support to users who want to migrate their assets to CoinDCX," said Sumit Gupta, Co-founder of CoinDCX, in a statement.

(The copy will be updated with more news throughout the day.)


Edited by Affirunisa Kankudti