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Startup news and updates: Daily roundup (April 19, 2024)

YourStory presents the daily news roundup from the Indian startup ecosystem and beyond. Here's the roundup for Friday, April 19, 2024.

Startup news and updates: Daily roundup (April 19, 2024)

Friday April 19, 2024 , 4 min Read

Funding news

Spintly Inc. raises $2M in extended Seed round

Cloud-based smart building solutions provider Spintly Inc. has raised $2 million in an extended Seed round led by Accel, Doctor Technology, and Chakra Growth Fund.

Spintly aims to use this capital to accelerate its growth within the US market, with a strategic focus on bolstering its sales, marketing and partnership initiatives, it said in a statement.

Founded in 2018 by Rohin Parkar and Malcolm Dsouza, Spintly offers smartphone-based access control solutions for commercial and residential buildings.

“Spintly’s solutions have overcome the shortcomings of traditional access control systems- they are adaptive, scalable, and allow decentralized access control, all of which make them very convenient to use," Barath Shankar Subramanian, Partner at Accel said.

"The team is on its way to revolutionize smart buildings - they have already shown consistent results for large customers, reducing costs for multiple businesses and simplifying infrastructure management for thousands of people."

Aurionpro Solutions acquires 67% stake in Arya.ai for $16.5M

Aurionpro Solutions has acquired Mumbai-based PaaS startup Arya.ai, securing a 67% stake for approximately $16.5 million.

"This acquisition will bring products and expertise in artificial intelligence, deep learning, intelligent automation, PaaS, autonomous AI platforms, and tailored industry solutions, to complement and strengthen Aurionpro’s existing industry-leading portfolio," it said.

The acquisition integrates Arya.ai's expertise in AI, deep learning, and intelligent automation with Aurionpro's fintech offerings.

Aurionpro Solutions is a technology firm specialising in enterprise software solutions. They offer a comprehensive suite of products and services focused on various industries, including banking, finance, and insurance.

Arya

Other

Energy companies form UEI alliance for EV charging interoperability and seamless payments

A group of 20 energy companies has formed an alliance to establish the Unified Energy Interface (UEI), a UPI-like network to enhance interoperability and seamless payment within electric vehicle (EV) charging networks.

Members include companies like ChargeZone, Pulse Energy, and Kazam, with advisory support from public policy think tanks like the Rocky Mountain Institute and World Resources Institute.

ChargeZone has integrated its chargers into the UEI network, allowing transactions, while tech enablers like Kazam and Pulse Energy enable customers to discover, pay, and charge at any UEI-enabled chargers.

The UEI network focuses on scaling transaction volumes, ensuring protocol relevance, and fostering easy integration for participants. It also aims to facilitate peer-to-peer (P2P) green energy trading and has been endorsed by the Department of Science and Technology.

Built on the Beckn protocol, UEI is supported by a not-for-profit alliance funding its working group and initial infrastructure costs.

The network has already facilitated 1.4GWh of energy transactions and anticipates significant growth with B2C apps joining in July. Interested organizations can register on ueialliance.org for integration workshops.

IISc launches Longevity India Initiative with funding from Accel India's Prashanth Prakash

The Indian Institute of Science (IISc) has launched the Longevity India Initiative to extend human 'healthspan' and address ageing-related challenges with initial funding from Prashanth Prakash, Founding Partner of Accel India

This multidisciplinary project involves researchers from various IISc departments, clinicians, industry experts, philanthropists, and civil society.

“There is an urgent need for diverse stakeholders from academia, healthcare and industry to come together, and nurture technology development and deep research on healthy ageing,” said Govindan Rangarajan, Director, IISc. “Many research groups at IISc have already been working on ageing and associated challenges for years. We are optimistic that this timely initiative will have a significant impact on tackling the growing burden of ageing in the country.”

The initiative aims to deepen the understanding of ageing through both fundamental and applied research and develop effective solutions to enhance the quality of life.

The initiative emphasises collaboration between academia and industry to develop interventions for managing age-related diseases, with a focus on promoting healthy ageing tailored to India's unique demographic and cultural landscape.

Key partnerships include clinical studies with MS Ramaiah Hospital and Bangalore Medical College & Research Institute, and support from industry leaders like Beckman Coulter, Healthians, Valerian Proteomics, and DecodeAge to accelerate research efforts.

Equirus appoints Amit Arora as its new COO and MD

Mumbai-based financial services company Equirus has appointed Amit Arora as its new Chief Operating Officer (COO) and Managing Director.

"I am honored to join Equirus, a company known for its commitment to excellence and innovation in financial services," said Amit Arora. "I look forward to working closely with the Equirus team to drive operational efficiency, foster a culture of collaboration, and deliver exceptional value to our clients and stakeholders."

Amit joins Equirus with a 29-year background in the financial sector, including his role as CEO of Sharekhan BNP Paribas Financial Services Pvt Ltd, where he expanded the group's NBFC and loan business.

(The copy will be updated with the latest news throughout the day.)


Edited by Affirunisa Kankudti