Startup news and updates: Daily roundup (February 9, 2024)
YourStory presents the daily news roundup from the Indian startup ecosystem and beyond. Here's the roundup for Friday, February 9, 2024.
Funding
AI-led edtech firm ConveGenius raises $1.8M
ConveGenius, an AI-first edtech firm, has raised a funding of Rs 15 crore ($1.8 million) from Searce Inc.
Through the funding, the firm aims to enhance its cloud services and accelerate its generative AI development. It plans to enhance , its flagship conversational AI platform. The collaboration is expected to accelerate the development of scalable, cloud-based educational tools, particularly in regions with limited access to quality education.
Founded in 2013 by Jairaj Bhattacharya and Shashank Pandey, has been at the forefront of integrating AI into education. Recently it closed a funding round by UBS Optimus, Mt Judi Ventures, and existing investors
Bombay Shirt Company raises $3.2M
Apparel brand has raised $3.2 million (Rs 26.9 crore) in a funding round led by Singularity Ventures’ Growth Opportunities Fund I. The funding also saw participation from CaratLane’s Mithun Sacheti and other investors.
This comes four years after Bombay Shirt Company raised $8 million in a Series B funding round led by Mumbai-based Lightbox VC.
Founded in 2012 by Akshay Narvekar, Mumbai-based Bombay Shirt Company offers tailormade shirts. Currently, the brand has around 18 stores across cities such as Mumbai, Delhi-NCR, and Bengaluru.
Credit: Shutterstock
Crux raises $2.6M in seed round
Y Combinator-backed has raised $2.6 million in a seed funding round led by Emergent Ventures, with participation from Y Combinator and Neon Fund. The funding round also included early backers First Cheque and other investors.
Crux is backed by individuals and industry veterans including Tej Redkar (CPTO, SumoLogic), Karthik Ramamoorthy (SVP, Products and GM, Zuora), Aayush Phumbra (Cofounder, Chegg), and Krishna Mehra (Director of Engineering, Meta).
Founded by Himank Jain, Atharva Padhye, and Prabhat Singh, the startup helps B2B SaaS teams develop AI copilots quickly. The copilots are fully aware of the business context, preferences, KPIs, and macro trends.
Other news
Ratan N Tata receives ‘ALERT Being’ Award for Lifetime Achievement
Ratan N Tata received the ALERT Being Award for Lifetime Achievement for living a lifetime of legendary philanthropy along with business excellence.
The seventh edition of the ALERT Being Awards conducted by the NGO Alert honoured 13 Good Samaritans from various walks of life.
Apart from Tata, five real-life heroes and Jeyalakshmi, a staff nurse from Tuticorin who received recognition for delivering a baby during floods, were also honoured. Organisations like Nizams Institute of Medical Science, United Way of Chennai, Dhara Sansthan, and Dharani Geotech Engineers India Pvt Ltd also received the award.
The ALERT Being Icon Award was given to Rat Hole Miners and Pudukudi Melur for their actions during the Uttarakhand Tunnel Collapse and Srivaikuntam Floods, respectively.
IIT Delhi-incubated startup Sanfe develops Glycoclear Technology
IIT Delhi-incubated startup has developed Glycoclear Technology, a skincare innovation.
This trademark technology includes Glycoclear Complex, a mix of alpha-hydroxy acids and beta-hydroxy acids, said the company. It exfoliates the skin and provides instant nourishment to skin making it smooth, it added. The Glycoclear Technology range encompasses 18 products.
Kapture appoints Gaurav Juneja as chief revenue officer
, a SaaS-based customer experience platform, has appointed Gaurav Juneja as chief revenue officer.
Juneja will develop and execute global growth strategies for Kapture’s business across Indian and international markets.
He has over 15 years of experience in building a revenue sales funnel and managing and maintaining relationships across organisational functions and the company’s clientele. He will be working on enhancing Kapture's market adoption and expanding its footprint.
Juneja, former head of digitalisation at Google, brings extensive experience from top roles in BFSI, retail, auto, and FMCG. He co-founded StarQuik and has also worked at Lehman Brothers and Reliance.
(This article will be updated with the latest news throughout the day.)
Edited by Swetha Kannan
