Startup news and updates: Daily roundup (May 13, 2024)

BEYOBO raises Rs 6.7 Cr pre-Series A2 led by IAN

BEYOBO, a cross-border ecommerce platform, has raised Rs 6.7 crore in a pre-Series A2 round led by the Indian Angel Network with participation from the International Startup Foundation and SAN Angels.

The funds will be used to bring more international brands to India and upgrade the tech platform.

"Our journey so far has been phenomenal. The overwhelming interest from our investors & customers not only fuels our financial resources but also reaffirms our strategic direction," Anil Agrawal, CEO and Co-Founder, BEYOBO said.

"Our sights are firmly set on achieving profitability as we gear up for a Series A round, and the future looks incredibly bright," Agarwal added.

BEYOBO is a cross-border consumer goods e-commerce platform, acts as a gateway for Indian SMEs who want to import goods from other global markets. It also facilitates foreign brands and sellers who want to expand their reach in the Indian market, both online and offline.

Crypto investment platform Mudrex is integrating ClearTax's tax reporting tools into platform to streamline crypto tax filing for Indian users.

Mundrex adds CleatTax's filing tools to its crypto investment platform

Mudrex, a crypto investment platform backed by Y-Combinator, has partnered with ClearTax to streamline crypto tax filing for its users in India.

Users can generate detailed tax reports, automate tax calculations, and access portfolio insights directly on Mudrex's investment platform.

"This partnership will provide a seamless and compliant investment experience, empowering users to navigate the complexities of crypto taxation with confidence and ease," Edul Patel, CEO & Co-founder of Mudrex, said.

Additionally, the partnership will ensure that Mudrex users remain informed about the latest tax developments and requirements within the VDA industry through various awareness and educational initiatives, it said in a press release.

Goldman Sachs executive Sidhi Dalmia joins Venture Catalyst's new fund

Former Goldman Sachs executive Sidhi Dalmia has joined Venture Catalysts' new fund, VC Grid, as a Partner and Co-lead.

VC Grid, targeting early-stage investments ranging from $500k to $1.5 million, aims to provide not only capital but also market access and business opportunities to fuel growth for startups, backed by its community of family offices, Corporate VCs, and U-HNIs.

"We are happy to have Sidhi help us launch VC Grid and strengthen our leadership team. She brings considerable experience and expertise in venture capital, early-stage investments, and building sustainable businesses, in addition to her financial savvy and leadership abilities. We look forward to working with her as we aim to boost the value for family offices/ legacy businesses and entrepreneurs”, said Dr. Apoorva Ranjan Sharna, Founder and Managing Director of Venture Catalysts++.

Ecom Express expands leadership

Ecom Express Limited, a logistics solutions provider, has fortified its leadership team with the appointment of key executives.

Pallavi Tyagi steps in as Chief Marketing Officer, bringing 18 years of versatile experience in brand strategy and execution. Jyoti Tandon joins as Vice President – Financial Controller, leveraging her 15 years of financial expertise.

Praveen Kumar Agarwal, with over two decades of experience in telecom and IT, assumes the role of Head – Security and Loss Prevention, enhancing the company's security protocols.

"With Pallavi, Praveen, and Jyoti joining our teams, we will strengthen our journey of sustainable growth and excellence. Their diversity and proven expertise will play a pivotal role in driving innovation, market leadership, security, and corporate governance for Ecom Express," Ajay Chitkara, CEO & MD, Ecom Express, said.

MoEngage launches CX tool for the financial services industry

Moengage, a customer engagement platform has launched MoEngage for Financial Services a tailored solution to address the specific needs of financial institutions.

It focuses on enhancing customer experience (CX) by providing real-time and actionable customer data while ensuring agility and security. MoEngage’s new solution aims to help financial institutions understand customer preferences, suggest relevant products or services, and ensure data security and compliance with local laws.

"Financial brands need access to real-time and actionable customer data without compromising agility and security. With 'MoEngage for Financial Services,' financial brands can build digitization flywheels that drive growth and enhance customer experiences," Raviteja Dodda, the CEO and co-founder of MoEngage said.

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