Startup news and updates: Daily roundup (April 30, 2024)

Funding news

Jaipur Watch Company raises Rs 1.6 Cr from Klub in revenue-based financing

Jaipur Watch Company, a luxury watch microbrand, has secured Rs 1.6 crore in revenue-based financing from Klub.

The company plans to use funds for marketing and inventory-related activities to enhance its position in the luxury watches market.

Klub was established in 2019, and has invested in over 650 brands across 1,700 investments across India and the UAE, such as Chumbak, Bluestone, BluSmart, Third Wave Coffee, and Berrylush. It provides various capital structures for businesses at all stages of growth, including early, growth, and late stages, to cover recurring marketing, inventory, and capex expenses.

Equirus InnovateX Fund leads PointO's Rs 6.2 Cr seed round

Equirus InnovateX Fund (EIF) leads seed investment round in lithium battery ecosystem startup PointO, with an investment of Rs 5 crore, from the total Rs 6.2 crore raised in this round.

PointO focuses on lithium battery adoption and financing for e-rickshaw owners in Tier-II+ cities, targeting low adoption due to operational and financial complexities. It aims to provide financial institutions with product assurance and predictability, reducing default rates and credit risk.

It has grown 7x in the last 12 months and plans to expand its physical centers to more than 10 cities.

vHub.ai raises seed funding from Z21 Ventures, Startup India Seed Fund Scheme

vHub.ai, an influencer marketing company, has secured an undisclosed seed round funding from investors like Z21 Ventures and Start Up India Seed Fund Scheme, along with several early-stage angel investors who supported its initial launch and development phases.

The funds will be used to enhance vHub.ai's AI technologies, enhancing influencer discovery analytics and facilitating more accurate brand-influencer connections.

It also plans to develop tools for better audience understanding and marketing strategies.

VHub.ai, an AI-driven SaaS platform, was founded in 2021 by Sachin Modi and Rajesh Jagasia, to provide brands and advertisers with valuable insights into their target audiences on platforms like Instagram, YouTube, and LinkedIn.

It focuses on making influencer marketing more effective through data-driven strategies, simplifying influencer discovery, and offering ROI-driven approaches.

Other News

Genpact collaborates with Microsoft

Genpact and Microsoft have partnered to drive modern finance transformation in enterprises, leveraging data, technology, and AI to drive innovation and drive modernisation in finance organisations globally.

Using the Azure OpenAI Service, Genpact is revolutionising global finance functions, enabling organisations to gain faster insights and adopt a modern, actionable financial data and analytics strategy.

Genpact's AI-first strategy leverages data, technology, and industry-leading partnerships to drive outcomes for shareholders, clients, communities, and talent, leveraging AI for internal and external outcomes.

BOOTES and CargoPeople announce joint venture launching BOOTES Cold Storage

BOOTES and CargoPeople have partnered to launch Net-Zero Cold Storage, a revolutionary initiative aimed at addressing food waste problem.

The joint venture aims to prevent food waste in India through net-zero cold storage and meet India's growing energy demand with renewable energy, ensuring no child goes hungry.

Bootes Cold Chain has also partnered with Urban Systems urbs AB to leverage their expertise in sustainable technologies and finance for the Indian cold storage sector. The aim is to attract green financing for building new facilities and deliver $1 billion in net-zero cold storage projects over five years.

Infinity Advertising appoints Satyendra Mallik as CEO

Infinity Advertisement Services has appointed Satyendra Mallik as its new CEO, a seasoned industry veteran with over two decades of experience in driving organisational growth and transformation across various sectors.

Mallik's appointment marks a new era for Infinity, aiming to expand its global reach through strategic international partnerships, fostering opportunities and value addition for clients, partners, and stakeholders.

He has held leadership positions at renowned organisations such as Eastmen Auto & Power Ltd, Intex, Trident Group, Hero Group, and Salora.

Drone Soccer makes official debut in India

Drone Soccer, an innovative sport combining aerial robotics and soccer, has officially launched in India, aiming to revolutionise both recreational and professional gaming.

Drone Soccer, a hybrid sport combining agility, strategy, and excitement, is a game that appeals to a wide age range, from ages 6 to 75, and is designed to be played using FIDA approved drone soccer balls. Players aim to score goals while engaging in thrilling aerial maneuvers.

The Federation of International Drone Soccer Associations (FIDA) is the global authority for Drone Soccer, overseeing its promotion and regulation across over 20 member countries. It is also responsible for hosting the inaugural Drone Soccer World Cup in 2025, set to take place in Korea in an exclusive stadium designed specifically for the sport.