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Startup news and updates: Daily roundup (May 17, 2024)

YourStory presents the daily news roundup from the Indian startup ecosystem and beyond. Here's the roundup for Friday, May 17, 2024.

Startup news and updates: Daily roundup (May 17, 2024)

Friday May 17, 2024 , 7 min Read

Funding

VR-based architectural startup Trezi closes Series A fundraise by Windrose Capital

Trezi, headquartered in Noida, has concluded its Series A funding round, with participation from Windrose Capital along with other investors.

It provides an immersive design communication and collaboration platform for the architecture, engineering and construction industry.

Founded in 2016, the company plans to use the fresh funds to accelerate the company's sales and marketing efforts. It is also looking to further expand its international outreach, especially in the US.

Trezi's platform works to transform design collaboration among stakeholders, who can now work from remote locations in real-time and at full scale. The platform also facilitates virtual meetings, and avatar-based teleportation, these features have also boosted its FY24 revenue.

Trezi is in the process of expanding its operations into the UAE, Saudi Arabia, and Oman, with sales set to commence soon. It already has an office and a unit in Dubai and plans to open one in the US.

Other news

DPIIT launches ONDC Startup Mahotsav in Delhi

Department for Promotion of Industry and Internal Trade (DPIIT) has organised ‘ONDC Startup Mahotsav’—a platform for upcoming startups to leverage Open Network for Digital Commerce (ONDC).

The event was launched at Vanijya Bhawan in Delhi as a collaboration of DPIIT’s Startup India initiative and ONDC.

ONDC facilitated 7.22 million transactions in April and has onboarded 5 lakh sellers, of which more than 70% are small- or medium-sized sellers. Over 12 unicorns and over 125 startups committed to onboarding on ONDC. The event witnessed the participation of around 5,000 startups in hybrid mode.

More than 125 ecosystem stakeholders, including startups, unicorns and high-growth businesses like  EaseMyTrip, Ofbusiness, WinZO, Livspace, GlobalBees, Pristyn Care, Cars24, Physics Wallah, PolicyBazaar, and Zerodha, signed a Letter of Intent (LoI) during the event. 

The Startup India initiative was launched by the government in 2016 to support budding entrepreneurs and create a robust startup ecosystem. ONDC was launched in 2021 to lower barriers to entry to digital commerce and create a level playing field for all ecommerce players.

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ideaForge announces beta launch of Flyght Cloud platform

ideaForge announced the beta launch of its FLYGHT Cloud Platform, which will eliminate the complexities of multiple vendors, regulations, and inefficient workflows.

The platform will be operated with a subscription-based pricing model and will be tailored for various workflows in a specific industry. The platform will be seamlessly integrated with ideaForge's drones and will enable users to fully harness the potential of their aerial data with ease and efficiency. 

The platform aims to simplify drone data analytics for diverse industries such as construction, mining, utilities management, infrastructure, and forestry. Flyght Cloud has automated reporting that streamlines the analysis process and results in rapid data processing along with swift turnaround times. The platform also provides users with access to an extensive app marketplace for further customisation and scalability. 

ideaForge operates in the Indian unmanned aircraft systems segment and is backed by giants like Qualcomm, Infosys, and Celesta Capital, among others. 

SalesCode.ai appoints ex-Coca Cola executive as Global Director

Salescode.ai has appointed Miguel Piñeros Petersen as the Global Director, Strategy and Solution Consulting for Latin America to strengthen its international operations.

In his prior role, Petersen led the Wabi2B B2B marketplace as the General Manager across 15 countries. He was responsible for the global rollout of the Wabi2B Ecosystem, he aligned bottling partners and stakeholders to help scale Wabi2B’s performance. He was also the group Chief Information Officer (CIO) for Coca-Cola in Latin America. 

Salescode.ai is an AI platform for consumer packaged goods (CPG) sales. It is associated with more than two million users across top global CPG companies like ITC, Coca-Cola, MARS, Perfetti, J&J, and others. The company is based in Gurugram, has a unit in Mexico and is in the process of setting up operations in the Philippines, Indonesia, and Vietnam.

edForce allies with SCRUM study to elevate agile training and certification in India

Workforce upskilling platform edForce has partnered with SCRUMstudy to tap into SCRUMStudy’s AI-powered SaaS Platform accessible for its clients, enhancing their learning experience and providing hands-on exposure to project management tools.

The partnership will also provide participants with the industry-first Scrum certifications tailored for IT operations and DevOps environments, thus ensuring relevance and applicability in the current business climate. 

Phoenix, Arizona-based SCRUMstudy provides training and certification in Scrum programs and agile methodologies. Both are used in developing software, where agile is used to manage flexibility and adaptability, and Scrum is a structured way to manage that flexibility by breaking work into smaller chunks and reviewing progress regularly. 

SCRUMstudy, a globally recognised accreditation body for Scrum and Agile training and certification, offers a wide range of certifications, including Scrum Master, Scrum Developer, Scrum Product Owner, Agile Master, and Scaled Scrum certifications, among others

JSW One logs $1B GMV in FY24

JSW One Platforms, the B2B ecommerce platform arm of JSW Group, announced that it crossed $1 billion Gross Merchandise Value (GMV) run rate for FY24.

The B2B tech-enabled marketplace, JSW One MSME, enables end-to-end fulfilment from logistics to finance to over 53,000 registered users across India. It operates in 18 states and has expanded operations in Madhya Pradesh, Chhattisgarh, Kerala, Rajasthan, and Punjab. 

The company reported a GMV of Rs 785 crore for March 2024, with an exit GMV run rate of Rs ~9,420 crore for FY24. 

Noting the success, Gaurav Sachdeva, CEO of JSW One Platforms, added, “Bet on digitisation of the B2B ecosystem is paying off, with our customers relying on online and digital channels for manufacturing and construction materials.” The company has quadrupled in growth from the last year, with the actual GMV at Rs 5,200 crore for FY24.

The company also operates JSW One Homes and sponsored experience centers which allow customers to engage with contractors and architects and review their home construction journey.

JSW One Platforms Gaurav
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Swiggy Instamart delivers aerators amid ongoing water crisis

Swiggy Instamart will now deliver water-saving aerators in partnership with Earth Fokus to consumers within 10 minutes. The move comes after the Bangalore Water Supply and Sewerage Board (BWSSB) issued a mandate for the installation of aerators across all commercial establishments as the city continues to navigate a water crisis. 

Aerators are easy-to-install mechanical tools which result in a reduction of water consumption by more than 70% from kitchen taps and up to 50% from showers. According to BWSSB, water aerators and flow restrictors can lower water usage by around 60-85% once installed.

Swiggy reported that searches for aerators on Instamart surged 1,400% on its platform compared to a month ago. On Instamart, Swiggy has stocked three major types of aerators—Kitchen, Bath/Basin Tap, and water flow restrictors for overhead showers. Instamart is also running discounts of up to 40% off on aerators to push for installation. 

WinZO announces collaboration with ONDC to reach broader markets

Skill gaming company WinZO has collaborated with Open Network for Digital Commerce (ONDC) to allow ONDC access to its over 175 million paying users which can be connected to buyers and sellers. 

WinZO connects game developers with paying users and charges a lower commission as compared to other leading distribution platforms. It earns revenue through advertisements and in-app purchases, charging a single-digit commission, while other platforms like Apple App Store and Google Play Store charge a 30% commission, as per the company. 

ONDC, which offers an open network for grocery and food delivery, mobility, fashion, agri-products, and health and wellness, will list its services on WinZO.

WinZO boasts a unique user demographic, primarily hailing from Tier II-V cities of the country and interacting with the internet in vernacular languages, characterised by high-frequency, low-value transactions or microtransactions. The inclusion of WinZO will help ONDC acquire new and unique users of online gaming and help digital businesses enhance revenue generation and reach a broader market.

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


Edited by Kanishk Singh