Startup news and updates: daily roundup (March 18, 2024)
YourStory presents the daily news roundup from the Indian startup ecosystem and beyond. Here's the roundup for Monday, March 18, 2024.
Funding news
Beatoven.ai raises Rs 11 Cr in pre-Series A round
AI music startup Beatoven.ai raised Rs 11 crore (about $1.3 million ) in a pre-Series A round led by existing investor Capital 2B. Entrepreneur First, IvyCap Ventures, Upsparks Capital, Rukam Capital, and angel investors participated in the round.
The startup will use the funds to enhance the user experience, support independent musicians, build a team specialising in research and development for music creation and composition, and develop a scalable go-to-market strategy to reach and acquire new users on a global scale.
“ understands that building a successful Gen AI music product requires a deep passion for music and audio technology, not just advanced AI models,” Amit Behl, Partner at Capital 2B, said.
Co-founded by Mansoor Rahimat Khan and Siddharth Bhardwaj, Beatoven.ai is an AI-driven music tech startup providing a platform for music composers and content creators to help them create royalty-free, easy to licence, exclusive music.
HCIN Networks bags Rs 12.5 Cr led by Swastika Investmart
HCIN Networks, a provider of networking solutions, raised Rs 12.5 crore (about 1.5 million) in a funding round led by Swastika Investmart Ltd. Ankit Mittal, Vijay Khetan, Executive Director, Param Capital, Ageless Capital, MSB E-Trade Securities, and other HNI investors, participated in the round.
It will utilise the capital to enhance its capabilities and facilitate the smooth execution of ongoing projects.
Founded in 2019 by Vikas Sharma and Shalini Sharma, the funds will help HCIN Network drive innovation and extend its reach inside the telecom framework space.
BNZ Green secures $100,000 in pre-seed funding round led by Climate Detox
Blockchain-based climate solutions startup BNZ Green secured $100,000 in a pre-seed funding round led by Climate Detox. Some angel investors also participated in the round.
It will use the funds for platform development, including enhancing the capabilities of the BNZ X platform and improving user experience, functionality, and scalability. It also plans to use it for marketing initiatives to increase brand visibility and effectively engage with the target audience.
“BNZ Green stands as a trailblazer, utilising cutting-edge technology and blockchain to revolutionise the voluntary carbon market. This strategic approach not only enhances liquidity and transparency but also channels capital directly into crucial conservation initiatives, reforestation projects, and ecosystem restoration efforts,” Gaurav VK Singhvi from Climate Detox, said.
Co-founded by Ashish Jain and Dr Neha Jain, BNZ Green Technologies specialises in delivering comprehensive end-to-end carbon solutions tailored for organisations with a vision to drive environmental impact at scale.
BNZ Green team.
Other news
Aditya Birla Sun Life AMC Ltd launches MyMutualFundGPT
Aditya Birla Sun Life AMC Ltd launched MyMutualFundGPT, an information tool designed to elevate the overall investor experience across its digital platforms.
The Gen AI-based tool claims to be able to comprehend the context of queries and generate responses based on the meaning. The tool is said to address investors’ queries regarding Aditya Birla Sun Life AMC Ltd’s products and services. Besides, it also helps investors research its top-performing funds, fund managers, and related topics.
The company claims that MyMutualFundGPT, with its conversational interface, is an alternative to navigating through vast amounts of information, as it aids investors in making informed decisions with clear explanations from respective product or service brochures available on its website.
UniPin partners with KRAFTON to become official distribution partner for BGMI
UniPin, a digital content enabler, partnered with South Korean gaming company to become the official distribution partner, offering secure transactions and rewards for its popular game, BATTLEGROUNDS MOBILE INDIA (BGMI).
This association will enable seamless in-game transactions for BGMI players and unlock rewards and discounts on the UniPin platform. The startup will help BGMI players to top up their in-game currency UC (Unknown Cash), which can be used to purchase items, including skins (for vehicles, weapons, cosmetic items), outfits, royal passes, and voice packs.
“With UniPin on board, we are glad to introduce unparalleled convenience and a hassle-free payment experience. Together, we're committed to ensuring that our players experience a more integrated and immersive gameplay than ever before,” said Siddharth Mehrotra, Head of Business Development, KRAFTON, Inc.
Mindsprint appoints Nitesh Mirchandani as Chief Business Officer
Mindsprint, a digital technology and business solutions company, appointed Nitesh Mirchandani as its Chief Business Officer.
With over two decades of experience, Mirchandani will lead the strategy and execution for Mindsprint’s growth in its targeted markets, invest in building strong relationships with the customers, strengthen the partnerships with key technology and domain players, and focus on building Mindsprint’s brand across the ecosystem.
Previously, he was the Global P&L Head for the life sciences and services vertical business unit at Birlasoft. He also held positions at Lanco Group and Intelligroup (now NTT Data).
Nitesh Mirchandani, Chief Business Officer, Mindsprint.
Judiciary Gold by Toprankers acquires judiciary wing of Coach Up IAS
Judiciary Gold by has acquired the judiciary wing of Coach Up IAS, a Lucknow-based civil services examination institute.
With this strategic move, Judiciary Gold by Toprankers aims to enhance its offerings and cater to the growing needs of judiciary aspirants in Lucknow and surrounding areas.
Coach Up IAS, founded by Ashutosh Srivastava, will now benefit from enhanced resources, expert faculty, and a comprehensive curriculum designed to empower students and help them achieve their career goals in the judiciary sector.
The newly acquired centre in Aliganj, Uttar Pradesh, can accommodate more than 100 students.
Writesonic launches AI Article Writer 6.0
, a Gen AI Platform, launched AI Article Writer 6.0, the latest iteration of its AI-powered article and blog generation product.
The platform claims that with AI Article Writer 6.0, articles will be ready in less than five minutes and 100 times cheaper. It will also offer customisation, in-depth research capabilities, and SEO optimisation to produce personalised, factually accurate, and brand-aligned articles.
Writesonic, a Y-Combinator-backed platform for content creation, SEO, and AI chatbots, aims to revolutionise the landscape of content creation and customer experience.
Swiggy launches nationwide road safety charter for delivery partner safety
launched a nationwide road safety charter, ‘Delivering Safely,’ for the safety of its over three lakh delivery partners.
Led by a series of safety training initiatives, improved safety gear, and the use of advanced telematics, the programme consolidates all policies and provisions under the Swiggy umbrella for the safety and well-being of its delivery partners.
The Delivering Safely charter builds on measures, including accidental medical coverage of Rs 2 lakh along with Rs 10 lakh death cover, free, on-demand ambulance service for its delivery partners and their families, and access to advanced road safety gear, among others.
“Improving road safety in our cities is not just a goal; it's a necessity for enhancing the daily lives and safety of everyone...Through a comprehensive road safety charter that spans educating, energising, and equipping our fleet with the right training and gear, Swiggy will continue to deliver safety for our partners,” Rohit Kapoor, CEO of Food Marketplace, said.
(This article will be updated with the latest news throughout the day.)
Edited by Suman Singh
