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Startup news and updates: Daily roundup (March 5, 2024)

YourStory presents the daily news roundup from the Indian startup ecosystem and beyond. Here's the roundup for Tuesday, March 5, 2024.

Startup news and updates: Daily roundup (March 5, 2024)

Tuesday March 05, 2024 , 6 min Read

Funding News

D2C sports brand Jager-Smith raises investment from angel investors

Sports and fitness brand Jager Smith said it has raised an undisclosed amount of funding from angel investors.

The company did not name the angel investors, but said it would use the funding to expand into more Indian states via Flipkart and Amazon.

The startup said it also intends to begin offline distribution this year.

CIEL Group invests in Courseplay

HR solutions provider CIEL HR Services Private Limited said it has invested in a global learning experience platform, Courseplay, in line with its plan to go public in 2024-25.

CIEL will integrate Courseplay with its HRTech platforms such as ProSculpt, HfactoR, Jombay and CielJobs.

"As the tech landscape is constantly evolving, so are the skills in demand. CIEL sees this as an opportunity to transform the talent landscape by facilitating upskilling across the globe," said Aditya Narayan Mishra, Managing Director and CEO of CIEL HR Services.

Hack2Skill raises $1 million from Recur Club in debt and equity

Tech community platform Hack2Skill said it has raised $1 million in a funding round led by Recur Club and String Ventures.

The startup will use the funding to market its products. It raised the capital through a mix of debt and equity financing.

"We are committed to building talent and providing a platform for tech enthusiasts that is both inspiring and transformative," said Samkit Sharma, founder of Hack2Skill.

Swizzle raises seed funding

Beverage startup Swizzle said it has raised an undisclosed amount in seed funding from existing investors such as Monika Rao, as well as Akshay Singhal, founder and CEO of Log9 Materials.

The startup said it will use the funds to hire across teams, increase its inventory, put quality checks in place, and expand its distribution network, among other things.

"[The funding] allows us to introduce our line-up of refreshing mocktail products to a wide audience across both the B2C and B2B segments, and establish a strong presence across retail locations," said Vrinda Singhal and Deepender Singh, Co-founders of Swizzle.

"By August 2024, we aim to be accessible in more than 1000 locations and plan to extend our reach to several new cities across the nation...," the Co-founders added.

The company is also planning to partner with quick commerce platforms such as Instamart and Blinkit, and expand its presence to over 3,000 locations by the end of the financial year.

Sustainable energy-tech startup Urja Sathi raises Rs 35 lakh

Lucknow-based startup Urja Sathi said it has raised Rs 35 lakh in seed funding from a bunch of angel investors such as Ankitt Jain and Sharlee Jain, after bootstrapping for nearly a year.

The startup said it will use the funds to hire, improve customer support, and undertake marketing activities.

Part of Ayhodhyavasi Corporation, Urja Sathi is an ecommerce marketplace for the solar and other clean energy sectors. It helps connect manufacturers of solar panels and energy-harvesting products with consumers such as businesses who want to harness clean energy.

Fintech startup Vijya Fintech raises Rs 7 Cr

B2B fintech company Vijya Fintech said it has raised Rs 7 crore as part of a follow-on round, bringing the total investment to Rs 15 crore.

Investors including Lemon Tech, Lemon Emerging Ventures, Veloce Fintech, and tech experts participated in the round.

The company said it will use the funds to finance its growth initiatives, hire more people, and expand its market reach.

Vijya Fintech has around Rs 1.5 lakh crore in assets under management, and manages portfolios for over 20 lakh investors.

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Other News

Physics Wallah (PW) launches CA coaching centre

Edtech startup Physics Wallah (PW) has launched its first offline Chartered Accountant coaching centre in Delhi to build on the demand for its online course in the subject matter.

The coaching centre will be able to assist 350 students and offer online and offline coaching and doubt resolution.

All three stages of the CA prep journey—foundation, foundation fast track, and intermediate—will be catered to, the company said.

Mahu Tasty to set up integrated animal township

Mahu Tasty brand PashuPalak has partnered with Planify, a fintech company, to set up an integrated animal township.

The company said it will invest Rs 250 crore in the project, which will be set up on 100 acres of land near Delhi-NCR.

The facility will provide a sanctuary for over 20,000 animals and empower 4,000 dairy farmers to establish their own dairy farm businesses. It will also focus on producing high-quality milk, ensuring animal health and safety, and offering carbon credits to participating farmers.

Our goal is to foster a sustainable and prosperous dairy farming ecosystem, where farmers are equipped with the necessary tools, knowledge, and resources to thrive," said Abhishek Rao, Founder and CEO of Mahu Tasty Foods.

Deep-tech startup United We Care names ex-Google exec Prabeer Nair as global CHRO

United We Care, a dee-tech AI startup that focuses on mental health and well-being said it has appointed Prabeer Nair as its Global Chief Human Resources Officer (CHRO).

Nair brings extensive international experience in human resources, having worked in over twelve countries.

His responsibilities at UWC include overseeing the entire employee lifecycle, fostering inclusive cultures, and supporting UWC's mission of transforming mental health and well-being globally.

Nair was earlier at Google where he focused on employee motivation and team dynamics. He has also worked with companies such as PetroChina, Oracle, Google X, Sprinklr, and Speechify.

Gupshup launches tools for B2C interactions

Enterprise chat app Gupshup has launched a set of SaaS tools to help businesses engage with customers using AI conversations.

Called, the Conversation Cloud, the SaaS tools will help companies converse, advertise, and communicate with customers. It comes integrated with modules such as catalogs, payment integrations, and agent-assist.

"The Conversational Internet is among the biggest trends shaking up the customer experience. It is rapidly digitising the mobile-first countries in emerging markets, and every business and brand will need new tools to build and manage conversational experiences," said Beerud Sheth, Co-founder and CEO of Gupshup in a press release.

digital payments from wallet to phone

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Fintech app Fello appoints Vamshi Krishna as Engineering head of engineering

Savings app Fello said it has appointed Vamshi Krishna as head of engineering, and Bhargav Prasad as business operations lead.

Krishna will aid in designing the company's technological path, as well as oversee planning and execution, while Prasad's role will be to primarily streamline operations, enhance user experiences, and focus on building customer success strategies and stakeholder management.

Krishna was last at NIYO SOLUTIONS where he was principal engineer. Prasad has been with Fello for over 2.5 years.


Edited by Megha Reddy