Startup news and updates: Daily roundup (February 6, 2024)

YourStory presents the daily news roundup from the Indian startup ecosystem and beyond. Here's the roundup for Tuesday, February 6, 2024.

Startup news and updates: Daily roundup (February 6, 2024)

Tuesday February 06, 2024,

7 min Read

Funding

Khyaal raises $4.2M seed funding

Khyaal, an app for senior citizens, has raised $4.2 million in a seed funding round co-led by 62Ventures, SVQuad, and Inventus Capital. Glen Tullman, Kanwal Rekhi, Raju Reddy, and Raj-Ann Gill, as well as existing investors, including Everywhere Ventures, Supermorpheus, and Unpopular Ventures, also participated in the round. 

Founder and CEO Hemanshu Jain said the funds will help accelerate innovation and extend Khyaal’s reach.

“As populations around the world and in India age, and the next generation becomes more mobile, it’s important to provide strong communities that allow our senior populations to not simply survive but thrive in the next phase of their lives. Khyaal provides a comprehensive approach so that India’s elderly population has one place to go for everything they need to prosper,” Glen Tullman, Principal at 62Ventures, said.

Founded in 2020 by Hemanshu Jain and Pritish Nelleri, Khyaal is designed for senior citizens and their family members, which offers an on-demand assistance service, enabling seniors to request services like booking cabs, travel arrangements, medical services, and bill payments.

The platform also extends financial services tailored specifically for seniors. So far, Khyaal has raised a total of $5.4 million in funding.

Khyaal

Brand Capital invests $3M in Adventum Student Living

Brand Capital, the strategic investment arm of The Times of India company, has invested $3 million in Adventum Student Living Pvt. Ltd. (ASL), the parent company of UniScholars, UniCreds, and UniAcco.

The investment would enable ASL’s next growth phase across key verticals, it said.

“Our investment in ASL extends our belief in propelling Indian brands that endeavour to provide world-class offerings enabled by technology. We are confident our unique investment model will provide the necessary growth for ASL and find increased adoption for its varied mix of solutions,” Srini Vudayagiri, President of Brand Capital, said.

Founded in 2019 by Amit Singh and Sayantan Biswas, the three brands of ASL make international students’ journey seamless by providing them with a one-stop solution for all their study-abroad needs. 

"With access to Brand Capital's extensive resources and existing portfolio, ASL is excited to elevate its business offerings,” Amit Singh, Founder and Director of Adventum Student Living, noted.

Swirl secures $1.1M in seed funding round led by Shastra VC

Swirl, a video commerce company, secured $1.1 million in a seed round led by Shastra VC (formerly Veda VC).

Angel investors, including Aakrit Vaish (CEO, Haptik), Shan Krishnasamy (Ex-CTO, Freshworks), Mohammed Dewji (CEO, MeTL), Naim Siddiqui (CEO, Momentum), Anil Goteti (Ex-SVP, Flipkart), Jiten Patri (Ex-CMO, Future Group), Arun Prabhudesai (TrakinTech), Neha Kulwal (MD, Mitgo), Ratan Ingu (CEO, Uncode), Paresh Chaudhry (Ex-CEO, Madison), participated in the round.

The company will use the funds to meet its global customer demand and grow its go-to-market and product teams with a particular focus on North America and the Middle East.

Founded in 2021 in India by Kaizad Hansotia and Bheshaj Joshi, Swirl is gearing up to open offices in the US and Dubai to expand its global presence.

Advance Mobility raises $2M in seed round led by Finvolve

Ride-sharing startup Advance Mobility raised $2 million in a seed round led by Finvolve and India Accelerator.

The startup plans to use the funds to expand its footprint to other cities besides Mumbai and Pune, where it presently operates with a fleet of 425 CNG cars.

“Our decision to support Advance Mobility aligns with our commitment to fostering innovation and driving positive change in the mobility industry,” Apoorva Vora, Co-founder of Finvolve, said.

“We believe in the team’s vision and are enthusiastic about the potential impact their advancements will have on the future of transportation,” Vora added.

Other news

Flipkart introduces 3-hour fresh flower delivery service

Ecommerce marketplace Flipkart has introduced a 3-hour fresh flower delivery service for customers, delivered via its network across more than 450 pin codes.

The company claims to ensure 3-hour fresh flower delivery for orders placed between 9 AM and 6 PM daily across cities like Bengaluru, Chandigarh, Faridabad, Gurugram, Hyderabad, Jaipur, Lucknow, Mumbai, New Delhi, Noida, and Patna.

Customers can choose from a range of flower varieties, including roses, orchids, carnations, and arrangements like bouquets and boxes.

Flipkart is also launching a Valentine’s Day campaign for the GenZ customers. 

BitSave appoints Ashwinder Singh as Chief Advisor

BitSave, a crypto investment platform, has appointed Ashwinder Raj Singh, CEO at Bhartiya Urban, as Chief Advisor. 

The advisory board, led by Singh, is bolstered by his extensive experience in wealth management and real estate. He comes with adeptness at merging conventional business strategies with innovative tactics, which aligns with BitSave’s philosophy of democratising crypto investing, most safely and securely possible.

As the co-chairman of the Confederation of Indian Industry (CII) Real Estate Committee, Singh holds strong expertise in managing high-value clients. With previous experience from Citibank, Deutsche Bank, and ICICI Bank, he has served across leadership roles in traditional finance and wealth management companies.

Launched in 2022, BitSave is a retail crypto index fund tracking the Bloomberg Galaxy Crypto Index. Managed by Casper Wealth Group, BitSave offers digital asset investment products to individuals and institutions.

Flash.co appoints Amit Verma as CPTO

Flash.co appointed Amit Verma as its Chief Product and Technology Officer (CPTO) as the company accelerates its growth in India and prepares for a global expansion this year.

Verma, the former CTO of Practo, brings extensive leadership experience, having also led technology teams at BigBasket, Ola, Oracle, and Yahoo.  

“He will be integral to the company’s commitment to delivering exceptional global products in the coming days. Flash.co is eager to witness its next growth chapter under his leadership and acumen,” Ranjith Boyanapalli, CEO of Flash.co, said.

The Flash.co platform has a suite of features, including seamless shopping tracking, AI-powered spam-free inbox, in-depth spend analytics, and personalised lifestyle rewards tailored to individual shopping behaviours.

Amit Verma Flash.co

STT GDC India signs MoU with Tamil Nadu govt to invest Rs 1,900 Cr in the state

STT GDC India has signed an MoU with the Tamil Nadu government during the Tamil Nadu Global Investors Meet 2024 to invest Rs 1,900 crore in the state to significantly expand its presence.

The entity plans to create additional data centre capacity of up to 80 MW critical IT load in multiple phases over the next five to seven years across suitable locations in the state.

It is one of the oldest and largest data centre operators in Tamil Nadu and India and has close to 45 MW of operational capacity in Chennai. 

NeuroEquilibrium appoints Samit Verma as CEO

Medtech startup NeuroEquilibrium appointed Samit Verma as its CEO.

A seasoned industry veteran with a career of over 24 years in FMCG and healthcare, Verma previously held the position of Managing Director at Amplifon India, a subsidiary of Amplifon S.p.A, an Italy-based global frontrunner in the hearing care industry across 29 countries. 

"Samit comes with a wealth of experience and, most importantly, resonates strongly with our values and ethics in our drive for clinical and technological excellence. Under his able and forward-looking leadership, we are confident that we will scale new heights and build NeuroEquilibrium into a truly global organisation…,” Dr Anita Bhandari, Co-founder of NeuroEquilibrium, said.

NeuroEquilibrium has over 200 clinics in India in partnership with ENT clinics, neurology clinics, and corporate hospitals. It’s funded by investors, including Kotak Ventures, RVCF Ventures, and Unicorn India Ventures.

BookingJini partners with Haryana Tourism

BookingJini, a technology solution provider for the hotel industry, has forged a strategic partnership with Haryana Tourism to revolutionise the reservation and demand-supply dynamics in the region.

The partnership is expected to unlock new opportunities for hotels, resorts, and other accommodation providers across the state. It aims to empower local businesses, driving higher occupancy rates and revenue while enhancing the overall guest experience.

The partnership is expected to drive increased visibility, attract a broader audience, and ultimately contribute to the economic development of the region.

(This article will be updated with the latest news throughout the day.)


Edited by Suman Singh

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