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Startup news and updates: Daily roundup (May 21, 2024)

YourStory presents the daily news roundup from the Indian startup ecosystem and beyond. Here's the roundup for Tuesday, May 21, 2024.

Startup news and updates: Daily roundup (May 21, 2024)

Tuesday May 21, 2024 , 6 min Read

Funding

Humors Tech secures Rs 2 Cr pre-seed funding from Venture Catalysts

Humors Tech, the healthtech company behind Respyr, a breath-based health screening device, has secured a pre-seed funding of Rs 2 crore from Venture Catalysts.

Respyr uses AI, IoT, and patented biomarker analysis for early detection and monitoring of diseases such as diabetes, hypertension, and respiratory issues.

The funding will support Respyr's commercial launch, clinical studies, and global expansion.

“Most healthcare research today is reactive; intervening after diseases have already caused substantial impact. Through Respyr, we aim to revolutionise the very premise of healthcare, making it proactive, accessible and personalised for each individual,” said Ankur Jaiswal, Founder, Humors Tech.

Deeptech firm 8chili receives investment from Karna D Shinde

8chili, a deeptech company with operations in San Ramon, California, and Bengaluru, has received an undisclosed investment from strategic investor Karna D Shinde.

8chili specialises in immersive training for the healthcare and life sciences sectors. The investment is expected to accelerate 8chili's research, market expansion, and partnerships.

"We are thrilled to have Karna D Shinde's support as we continue to push the boundaries of immersive training. His strategic insight and financial backing will enable us to accelerate our research and development efforts, expand our market reach, and forge key partnerships within the healthcare industry," said Aravind Upadhyaya, Founder and CEO of 8chili, which has partnered with notable industry players including Strides Pharma and Apollo Hospitals.

Deeptech

Other news

SanchiConnect, YourNest launch $500k deeptech accelerator programme

SanchiConnect, in partnership with YourNest Venture Capital, is launching a scale-up accelerator for deeptech hardware and software startups with core intellectual property.

The programme will provide $500k upfront funding to 5-8 startups, followed by a 60-day intensive phase focusing on market strategies and international collaborations, culminating in a demo day for showcasing innovations to investors.

Applications are open from May 21 to June 9.

"At YourNest, our commitment to nurturing deeptech startups has been the focus of our thesis since inception. And in 2020, we pioneered the concept of fast-track funding with our unique SOAR programme in the midst of the pandemic," said Girish Shivani, Executive Director and Fund Manager at YourNest.

"This initiative now moves to the next level with our partnership with SanchiConnect in this accelerator programme and underscores our commitment to catalysing India’s deeptech startup ecosystem. By providing startups with faster funding we aim to spur their growth and contribute to the advancement of technology-led innovation."

The programme targets early-stage Indian startups with promising commercialisation or revenue in sectors such as agritech, biotech, energy, healthtech, and telecom.

Ex-Twitter India head Manish Maheshwari selected for Harvard's Mason Fellow Program

Manish Maheshwari, co-founder of Fanory.ai and former head of Twitter India, has been selected for Harvard's Mason Fellow Program at the John F. Kennedy School of Government.

Starting in July 2024, Maheshwari will spend two semesters at Harvard, focusing on AI’s role in enhancing financial stability and creative freedom for content creators. The Mason Program, established over six decades ago, brings leaders from developing countries to tackle global development challenges.

Maheshwari was formerly the head of Twitter India and CEO of Network18 Digital, and brings a wealth of experience in the digital landscape. He has held leadership roles at Flipkart and with organizations like the Internet and Mobile Association of India (IAMAI).

"Incredibly humbled by this honor, it reaffirms my commitment to integrating technology with societal benefits. We must approach AI development with humility and responsibility, ensuring it benefits all layers of society, especially the marginalized. In doing so, we honor the true spirit of technological advancement — not to overshadow humanity, but to uplift it, ensuring no one is left behind." Maheshwari said.

Embedded consumer-lending platform Niro crosses Rs 1,000 Cr in disbursals

Niro, an embedded consumer-lending platform, has surpassed Rs 1,000 crore ($125 million) in disbursals in less than 27 months since its 2022 launch.

Partnering with top NBFCs including PayU Finance and Aditya Birla Capital, and banks such as IDFC First, Niro offers personalised credit products embedded in platforms such as NoBroker and Snapdeal.

The company serves 35 million pre-approved customers from its 250 million monthly active users.

"We are thrilled to reach this significant milestone of Rs 1000 crore in disbursals within such a short span of time. This achievement is a testament to the hard work and dedication of the entire Niro team, as well as the strength of the thesis and timing," said Aditya Kumar, Co-founder & CEO of Niro.

Metastable Materials ropes in energy expert Daniel Troedsson as an advisor

Peak XV Partners-backed Metastable Materials, a Bengaluru-based deeptech battery recycling startup, has appointed Daniel Troedsson, a seasoned battery and energy expert, as its advisor.

Metastable materials

Troedsson, formerly with Alelion Energy Systems AB and Volvo, brings nearly two decades of industry experience. His role at Metastable includes strategic planning, delivering industry insights, and expanding international market reach.

"Metastable is a groundbreaking startup that has, within a very short time span, exhibited the effectiveness of their recycling technology, exemplified through their successful execution of a small-scale production line." said Troedsson.

"Metastable’s strategic advantage, anchored via a patented solution, solidifies their position as frontrunners in the recycling industry," he added.

(The article will be updated throughout the day.)


Edited by Swetha Kannan