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Startup news and updates: Daily roundup (Feb 20, 2024)

YourStory presents the daily news roundup from the Indian startup ecosystem and beyond. Here's the roundup for Tuesday, Feb 20, 2024.

Startup news and updates: Daily roundup (Feb 20, 2024)

Tuesday February 20, 2024 , 4 min Read

Funding news

AutoVRse raises  $2 million in seed funding

AutoVRse, a domestic AR/VR technology startup, has secured $2 million in seed funding in a round led by Lumikai, a venture capital fund specialising in gaming and interactive media.

The funds will be predominantly deployed to advance AutoVRse's core enterprise product, which is an end-to-end modular technology stack and SaaS platform. This platform aims to seamlessly integrate VR/AR into the workflows of industries such as manufacturing, construction, engineering, oil and gas, and automotive. It replaces inefficient manual instruction and costly simulation techniques, catering to diverse purposes such as safety training, sales, and collaborative remote work.

AutoVRse has delivered VR solutions to many Fortune 500 companies and industry leaders including Shell, Godrej, Bosch, Tata Motors, Ultratech Cements, and Aditya Birla Group.

Other news

Zoomcar and SPARKCARS partner to raise EV car adoption in self-drive space 

Zoomcar and SPARKCARS have forged a transformative partnership to raise EV car adoption in the self-drive space.

As the rental market undergoes continuous transformation, this collaboration aims to boost the availability of electric vehicles (EVs) for self-drive, catering to the increasing demand for convenient and autonomous travel. Additionally, it represents a strategic initiative to raise awareness about the heightened economic value for EV hosts within the thriving rental economy.

Zoomcar and SPARKCARS plan to add over 1,000 electric vehicles to Zoomcar's platform in India within the next two years, featuring popular models like the TATA Nexon, Mahindra XUV 400, Citroen eC3, among others, offering users a diverse range of eco-friendly mobility options.

Contrasted with conventional Internal Combustion Engine (ICE) counterparts, hosts providing EV rentals yield a higher economic benefit by capitalising on high demand, special pricing and low operating costs due to minimal maintenance requirements. 

Flexible workspace segment expects a rise of 10-15 % in rentals in 2024

The landscape of work has undergone a seismic transformation due to the lasting effects of the COVID-19 pandemic, prompting a significant shift towards hybrid, remote, and flexible work setups. Major IT giants such as WIPRO, TCS, Tech Mahindra, and Infosys exemplify this shift with a clear inclination towards returning to office environments.

coworking space

Paras Arora, Founder & CEO of Qdesq, one of the leading figures in the commercial real estate industry says, "2024 brings a renewed sense of enthusiasm and a changing work environment. As we navigate this dynamic landscape, it is crucial to grasp the significant changes post-COVID-19."

Arora emphasises the impact of Return to Office trends on businesses of all sizes, leading to the widespread adoption of hybrid, work-from-office (WFO), and flexible working arrangements. The Flex Predictions for 2024 provide insights into the evolving patterns in working spaces, reflecting the shifting paradigms of how we collaborate and work.

ZeeVee partners with Alphatec to accelerate expansion in India

ZeeVee, a prominent AV distribution technology provider based in the United States, has revealed its ongoing growth initiatives in the Indian market. In collaboration with Alphatec, the strategic partnership is focused on streamlining AV installations in India through cutting-edge AVoIP and RF products. This collaboration signifies a noteworthy achievement in ZeeVee's dedication to providing inventive AV solutions across a variety of sectors.

The ZeeVee and Alphatec partnership is set to serve a wide range of target markets, encompassing corporate settings, healthcare establishments, government entities, educational institutions, entertainment venues, and beyond.

Talking about ZeeVee collaboration with Alphatec, Rajesh Patkar, ZeeVee India Country Manager, stated, "Our collaboration with Alphatec signifies a strategic alignment of our objectives to provide cutting-edge AV solutions to the Indian market. Alphatec's extensive reach and expertise complement ZeeVee's innovative product offerings, enabling us to better serve our customers and drive growth in India."

Unstop unveils talent competition for students

Unstop, a platform dedicated to talent discovery, engagement, and hiring of students and graduates, has unveiled the Unstop Talent Park initiative. This competition presents an opportunity for students to enhance their skills and personal growth.

Unstop Talent Park will enable students to apply their knowledge to real-world challenges and gain insights. The competition has both tech and non-tech tracks.

Successful participants stand a chance to win a cash prize of Rs 1 lakh, along with an internship opportunity with a stipend of up to Rs 1 lakh per month. Exceptional performance during the internship could potentially lead to a full-time job offer. The first runner-up will receive a cash prize of Rs 50,000, while the second runner-up will be awarded Rs 30,000.

All participants will receive recognition upon conclusion of the contest. The deadline for registering for Unstop Talent Park is February 29, 2024.