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Startup news and updates: Daily roundup (February 26, 2024)

YourStory presents the daily news roundup from the Indian startup ecosystem and beyond. Here's the roundup for Monday, February 26, 2024.

Startup news and updates: Daily roundup (February 26, 2024)

Monday February 26, 2024 , 4 min Read


Biggies Burger raises pre-Series A funding

Burger chain Biggies Burger has raised an undisclosed amount of funding in a pre-Series A ound at a valuation of Rs 210 crore.

The company did not disclose the names of its investors. It will use the funding to open new stories and scale its marketing efforts.

Founded in 2011, the startup said it has quadrupled its store count from 37 on October 21, 2023 to 130 on December 23.

Spacetech startup SpaceFields raises $800,000 in seed round

Rocket innovation company SpaceFields has raised $800,000 in a seed funding round from a network of investors, including US-based HVB 88 Angels and O2 Angels Network.

Mumbai-based value investors network Vinners, Burla Angels, and other independent angel investors also participated in the round.

The company plans to use the funds raised for the development and testing of critical hardware and various subsystems, research and development in energetic materials, and expanding the company's team, with intentions to double its team in the coming months to fill roles in functions such as aerospace and mechanical design, chemical and propulsion, and avionics.

"Our focus remains to develop a platform technology for solid-state rocket-motor fuel and further scale to its wide-ranging applications, including emerging hypersonics," said Founder and CEO Apurwa Masook.

"This funding infusion will help us enhance our capabilities and readiness to undertake much larger and faster test campaigns for our solid rocket motors," he added.

Venture Catalysts invests in Knocksense

Venture Catalysts has invested an undisclosed amount in content-commerce platform Knocksense's ongoing $1 million pre-Series A round.

The Lucknow-based startup has attracted investments from several angels, including Lets Venture, Mumbai Angels Network, and We Founder Circle, in its pre-Series A round.

Knocksense, a platform that utilises a subscription-driven commerce model, offers curated content feeds along with exclusive privileges at local establishments.

It has built a strong presence in various cities such as Lucknow, Indore, Kanpur, Bandra (Mumbai), and Ahmedabad, with intentions to further expand its geographic footprint.

"The plan is to deepen market penetration, enhance technological infrastructure, and expand the suite of offerings to its community," said Vibhore Mayank, CEO and Founder of the startup.

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MobiKwik to facilitate UPI payments without bank accounts

Fintech platform MobiKwik has launched a new feature that will allow users to make UPI payments on its platform without linking their bank accounts.

Called 'Pocket UPI', users will be able to load their wallets with the amount they want to spend using cards or UPI, and then use that limited amount of money to make transactions anywhere.

“By linking UPI directly to bank accounts, users often neglect minor expenses. Pocket UPI streamlines finances by consolidating multiple small transactions into a single wallet, providing users with a powerful tool to manage their finances effectively," said Bipin Preet Singh, Co-founder and CEO of Mobikwik, in a statement.

The service will also be available during bank downtimes, the company said.

Blinkit launches app for franchise store owners

Quick commerce startup Blinkit has launched an app to help franchise store owners connect with their customers and build their businesses more efficiently.

Called 'Blinkit Franchise App', the platform will allow dark store owners to operate, track inventory, get payout details and access trends, among other things.

Truecaller launches AI-led call recording in India

Truecaller has launched an AI-led call recording service in India to help users record and transcribe their calls.

The service will be available on both iOS and Android platforms as part of its premium plan for Rs 75 per month or Rs 530 per year.

"We want to give our customers greater control and flexibility in managing their conversations, and it is also a very valuable tool for both personal and professional purposes," said Rishit Jhunjhunwala, Managing Director and Chief Product Officer of Truecaller.

Edtech co Veranda Learning partners with Cambridge University

End-to-end education solutions company Veranda Learning has partnered with Cambridge University Press to recruit, onboard and support schools in the Cambridge community, especially in Tier II and III cities.

Veranda will help Cambridge University sign up more schools for its international curriculum, as well as provide expert teachers and administer teacher training programmes.

Veranda will manage the schools as Cambridge's associate partner. The latter hopes to expand to 1,000 schools in India.

Edited by Kanishk Singh