Startup news and updates: Daily roundup (March 27, 2024)
YourStory presents the daily news roundup from the Indian startup ecosystem and beyond. Here's the roundup for Wednesday. March 27, 2024.
Zoomcar partners with ACKO Drive
Holdings has partnered with ACKO Drive, a car-buying platform, to help local Zoomcar hosts expand their car fleet.
The partnership aims to offer savings of up to Rs 85,000 on new car purchases, along with attractive car financing options, enabling hosts to expand their business presence and boost earnings.
Zoomcar Hosts can improve their business operations and cater to changing consumer preferences by upgrading their fleet with newer car models. This enhances competitiveness and allows them to tap into higher earning potential associated with newer, more attractive vehicles, benefiting both new and existing customers.
Suba Group of Hotels in India selects Hotelogix Cloud to centralise operations
, a cloud-based hospitality technology provider, has announced that Suba Group of Hotels has adopted its muti-property management system for automating processes across member properties and gaining centralised control over group operations for growth, revenue, and guest experience.
Hotelogix has introduced a Mobile Hotel PMS App for Suba Group of Hotels, enabling real-time OTA distribution and management of non-room revenue-generating outlets across properties.
The app integrates with Channel Manager, third-party accounting, materials management, and guest communication solutions, for efficient management of non-room revenue-generating outlets.
Sterlite Power and GIC announce joint venture
Sterlite Power and GIC's affiliate have signed definitive agreements to establish a new platform for developing and operating power transmission projects in India.
Sterlite Power will hold a majority stake of 51%, while GIC will hold the remaining 49% stake. Sterlite Power was advised by Deutsche Bank, AZB Partners, and Khaitan & Co, while GIC was advised by Avener Capital, Shardul Amarchand Mangaldas & Co, and PWC.
The JV platform will capitalise on new opportunities arising from the Indian government announcing an investment of Rs 11 lakh crore into capex, with a large part of it to flow into energy.
Unicommerce launches AI tool UniGPT for ecommerce Businesses
, an ecommerce platform, has launched its pilot project, UniGPT, a generative AI platform designed to address ecommerce sellers' concerns and provide business assistance by answering their questions related to ecommerce selling.
The service aims to assist sellers in leveraging technology for smoother operations, and currently, it is available at no cost.
Coca-Cola SLMG Appoints Costin Mandrea as CEO
SLMG Group, an independent Coca-Cola bottler, has appointed Costin Mandrea as CEO of Coca-Cola SLMG operations, bringing over 25 years of beverage industry experience and strategic vision to the role.
Costin Mandrea, a former Coca-Cola Bottling System leader, has successfully driven business growth through transformation, sales force operations, customer engagement, and route-to-market strategies in Western and Central Europe, Russia, and Japan.
Simpl expands its integration with Zomato
has expanded its partnership with food ordering and delivery platform , integrating its one-tap checkout with Zomato Gold, Intercity Legends, and Zomato Everyday. The move aims to improve convenience, conversions, average order value, and user retention.
Simpl said it has achieved 100 million checkouts on Zomato since 2017.
The companies are anticipating a significant increase in their customer base over the next few years due to a rise in online shopping from Tier-III and beyond cities as well as increased orders from metro and Tier-I, II cities.
Automaxis integrates blockchain, AI for cross-border transaction
Automaxis, a -backed startup, is launching FDP Connect, a flagship product designed to streamline, automate, and digitise international transactions related to freight, documents, and payments.
The platform aims to revolutionise the way businesses navigate the complexities of global commerce by addressing long-standing challenges in international trade.
Automaxis utilises blockchain technology and AI to enhance efficiency and reduce paperwork in international trade by facilitating interoperability and seamless collaboration among stakeholders.
With over 5,500 exporters, it has expanded into sectors including agricultural exports, recycled paper exports, marine exports, engineering exports, and gem and jewellery exports. It plans to collaborate with international supply chain agencies to further increase its impact.
Investcorp appoints Abbas Rizvi as Chief Financial Officer
Investcorp, an alternative investment firm, has appointed Abbas Rizvi as its Group Chief Financial Officer (CFO) effective April 1, 2024, following the retirement of Jan Erik Back.
Abbas Rizvi, a member of the Investcorp finance team for 19 years, has worked at Ernst & Young since 2005. He has experience in auditing and advisory services for large banks, insurance companies, and asset management firms, and his last role was as an associate in its business risk services unit.
Jan Erik Back, CFO since 2018, announced his retirement before Investcorp awaited a succession process.
(This copy will be updated with the latest news throughout the day.)
Edited by Kanishk Singh
