Startup news and updates: Daily roundup (April 9, 2024)

Funding

SIS Limited invests Rs 10.16 Cr in Age Care Labs

SIS Limited invests Rs 10.16 crore in Age Care Labs, moving into the B2C segment and enhancing its facility management services portfolio.

SIS plans to leverage its extensive workforce and training infrastructure to upskill employees in geriatric services, potentially expanding into international healthcare markets.

"This collaboration holds the potential for significant advantages to SIS's Alarm Monitoring and Response Solution and Pest Control businesses, along with additional services, such as cash-to-home delivery and assistance with daily chores, catering to the unique needs of the elderly population," Rituraj Kishore Sinha, Managing Director of SIS Limited, said.

With over 125 condominium clients in NCR and a presence in other sectors like property management and tourism, SIS aims to extend elder care services to diverse markets, ensuring holistic support for elderly populations.

Zulu Defence System secures $750k seed round led by Finvolve

Bengaluru-based Zulu Defence System has secured a $750,000 seed funding round led by Finvolve.

Specialising in Advanced Air Defence Aerial Systems, Zulu makes defence technology for rapid deployment, precision strike, and countermeasure capabilities in contested environments.

"Having seen first-hand the need for battlefield tech that's both agile and effective. Zulu Defence's advanced warfare technology is a game-changer. Their unique approach offers increased precision, faster deployment that could give our troops a significant edge," Lt. Gen. Anil Chait, Chief Advisor of Robotics and Unmanned Systems Thesis of India Accelerator, said.

Apoorva Vora of Finvolve stated, "We are delighted to be a part of this pioneering venture. Our decision to invest in Zulu Defence System is in sync with our commitment to foster innovation and indigenization of defence tech. We ardently endorse the team's vision and are excited about the transformative impact their advancements will bring to the future.”

AutoNxt Automation secures pre-Series A funding from Saama

Electric and autonomous mobility tech platform AutoNxt Automation has secured pre-Series A funding from Saama and other investors.

With a focus on building high-torque electric powertrains and off-road autonomous technologies, AutoNxt aims to launch India's first electric tractor with self-driving capabilities, catering to commercial sectors like agriculture, construction, and more.

“The latest funding from Saama and all our investors enables us to fast-track engineering efforts and promptly establish our brand as a dependable, global, cutting-edge mobility platform, with 'India for India' as our guiding mantra," Founder and CEO Kaustubh Dhonde said.

Paytring secures pre-seed funding led by Unlimit

Fintech platform Paytring raised undisclosed pre-seed funding led by Unlimit. The startup aims to streamline payment operations globally, and it will use the funding for product development, market expansion, and customer acquisition for its services.

"Unlimit's strategic investment at such an early stage shows the importance of Paytring’s solution for the expansion of business around the world. The payment leaders’ deep tech expertise and multi-geography insights will help fast-track our development. Together, we’re excited to achieve our strategic mission of empowering businesses to stay ahead of the global payments ecosystem’s evolving dynamics," says Keshav Munjal, Co-founder and CEO of Paytring.

The first-of-its-type platform integrated with more than 25 PG/PSPs around the world, Paytring connects them with ecommerce companies involving D2C, B2B, B2C, and P2P.

Other news

Bollywood artist Neha Dhupia picks up stake in BlackCarrot

Bollywood artist Neha Dhupia has picked up undisclosed equity in the dinnerware brand, BlackCarrot.

The brand focuses on making stone plates which are Bone China-free. It also makes cutlery using food-grade steel and lead-free glasses.

“BlackCarrot is a promising startup with a unique product offering and passionate founders backing it. Their

dinnerware is both healthy and eco-friendly while remaining stylish and elegant,” Dhupia said in a press release.

"At BlackCarrot, we believe that as we become more health-conscious about what we eat, we should also be mindful of how we eat," co-founders Yadupati Gupta and Vishal Gupta said in a joint statement.

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Krafton brings Bullet Echo, a top-down PvP shooter to India

KRAFTON India and ZeptoLab have jointly introduced Bullet Echo India multiplayer PvP tactical top-down shooter with a battle royale style gameplay.

The game is designed to have quick, 1-2 minute matches for fast-paced battles. The game will also feature regularly updated live in-game events managed by a team of 20 people to keep players engaged throughout the year.

"This is the biggest launch by KRAFTIN this year in India and he have many exciting things planned for the year ahead." Anuj Sahani, India Publishing Advisor and Head of KRAFTON India Incubator Programe told YourStory.

Krafton has spent close to 6 months in localizing the game and has skins and characters donning traditional Indian attire. To leverage the popularity of Krafton's flagship battle royale shooter BGMI, the character Stalker will receive a BGMI skin.

DTDC Express Ltd. elevates Abhishek Chakraborty to CEO role

Abhishek Chakraborty assumes the role of CEO at DTDC Express Ltd., aiming to propel the company forward with a focus on innovation and growth.

"I extend my heartfelt gratitude to our dedicated channel partners, employees, and stakeholders, whose unwavering support has propelled us this far. I would like to thank the Board of Directors of DTDC for trusting me and giving me the opportunity to address new challenges. Together, we will continue to foster a culture of shared success and excellence,” Chakraborty said.

Before assuming the role of CEO, Chakraborty led DTDC as Executive Director for 15 years. Under his leadership, DTDC expanded its network and introduced transformative initiatives like the MyDTDC app and DTDCShipAssure.

Satyukt adds Swahili, French, Spanish, Arabic to its farming app

Agritech firm Satyukt has expanded the language support for its Sat2Farm mobile app, a satellite-based agricultural monitoring system.

Recognising the global nature of agriculture and the diverse linguistic backgrounds of farmers, the app now offers languages including Swahili, French, Spanish, and Arabic.

"English has achieved global status, but not all farmers speak English fluently," said Dr Sat Kumar Tomer, Founder and CEO, Satyukt Analytics. "Providing agricultural apps in vernacular languages ensures that language barriers do not prevent farmers from accessing important information and utilizing the full potential of agricultural technologies."

Paxful launches global support for ETH

Paxful has launched global support for Ethereum, offering individuals and businesses in over 150 countries more than 450 additional ways to buy and sell ETH through its borderless payments marketplace.

To commemorate the launch, Paxful introduced incentives including zero-fee trading on ETH for gift card traders, account credit up to $100 for new traders, and VIP benefits for top ETH traders until April 25th, 2024.

“Paxful stands for providing financial accessibility and personal agency through the free movement of money, and we see Etherum and Bitcoin each playing an important role in this future,” said Paxful CEO Roshan Dharia. “That’s why we’re proud to expand access to ETH as a peer-to-peer settlement layer to millions of traders in over 100 countries—with or without a bank account.”

Whoppl expands to France, Japan, Singapore

Content-to-commerce Whoppl expands globally through strategic partnerships with Hotice Inc (Japan), Grown Media (France), and Kobe (Singapore).

"We see this as a strategic move to continue evolving our capabilities in the fast-moving creator ecosystem. Our vision is to create a truly borderless creator ecosystem, and these alliances mark the first steps towards that reality. We believe in the power of collaboration to elevate the influencer economy globally," Ramya Ramachandran, Founder and CEO of Whoppl, said.

"Global expansion is a symphony of collaboration, where every partnership harmonises to create a world where content and commerce intertwine seamlessly. We are extremely happy to operate on a global canvas, and we look forward to very exciting times ahead," Ramachandran added.

Simpl to integrate with Zepto Pass

Checkout platform Simpl is integrating its Instant Checkout on Zepto Pass, with an aim to facilitate over 100 million checkouts by 2026 on the quick commerce app.

"Quick commerce has been one of the fastest-growing categories for Simpl, witnessing an increase of nearly 50% year-on-year in transactions and 25% growth in average order value over in Feb 2024 vs 2023," the company said.

Since partnering with Zepto in January 2022, Simpl said it has observed over 13 million checkouts and claims a retention rate higher than the industry average.

In 2023, the platform facilitated its highest-ever single transaction for quick delivery, amounting to nearly Rs 18,566 through Simpl’s Instant Checkout on Zepto. Notably, a user conducted 141 transactions with Simpl on Zepto in November 2023, totalling Rs 1.38 lakh.

OvenStory launches franchise model to fuel growth

Rebel Foods' OvenStory launched a franchise model to extend its offline presence nationwide.

The model, operating under a FOFO structure, invites entrepreneurs to join the venture, supported by Rebel's operational software, Rebel+. Rebel Foods also has a network of over 350 cloud kitchens in 70+ cities.

"Our mission is to make Oven Story Pizza accessible to pizza enthusiasts across the nation, and franchising is the perfect avenue to achieve this goal. The franchise model is projected to drive substantial growth and drive a significant increase in market share for Oven Story Pizza. These franchise stores will be located across various regions, amplifying the brand's visibility and accessibility to customers,” Raghav Joshi, Co-founder of Rebel Foods, said.

Rakul Preet Singh collaborates with Curefoods to launch Millet centric restaurant

Bollywood actress Rakul Preet Singh collaborates with Curefoods to launch her first dine-in restaurant, "Arambam – Starts with Millet," in Hyderabad on April 16th.

With a millet-centric theme, the restaurant emphasizes the grain's nutritional value, aligning with Rakul's fitness advocacy. As the brand ambassador, she aims to promote healthy dietary practices.

“Arambam is not just a restaurant; it’s our way of showcasing commitment to a healthy lifestyle and responsible food decisions. We are thrilled with this collaboration and are looking forward to expanding into other markets soon.”

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