Startup news and updates: Daily roundup (July 18, 2024)

Funding news

Honestly raises Rs 3.2 Cr pre-seed funding from Better Capital

Honestly, an AI-powered beauty and personal care platform, has secured Rs 3.2 crore in pre-seed funding led by Better Capital along with participation from Kunal Shah-led QED Innovations, and senior leaders from Flipkart, Polygon and Cred. 

Founded in April 2024, its AI analyses each user's order history and matches them with similar users across 100+ attributes, such as skin tone, skin type, age, and gender, to discuss product recommendations. Additionally, Honestly's AI evaluates product ingredients to help users understand how new products fit into their routines. 

EV-Ride-hailing startup MyPickup raises Rs 1.5 C in seed round led by Inflection Point Ventures

MyPickup, an urban transit services provider has raised Rs 1.5 crore in seed round led by Inflection Point Ventures. 

The funds will be used for developing scheduling algorithms, brand building, and optimising operations management. This investment is part of IPV's initiative to support early-stage ideas with high innovation and impact potential.

At scale, it plans to expand to on-demand rides with fleet operators and other vehicle classes, maintaining control over drivers and vehicles through robust SOPs and training to ensure a high-quality customer experience.

Protonas secures seed funding from Transition VC 

Protonas, a startup specialising in low-cost PEM hydrogen fuel cell solutions, has raised a seed funding round of an undisclosed amount, led by Transition VC. 

With this raised capital, Protonas is set to establish initial manufacturing operations in Chennai and build prototype systems.

Protonas' PEM hydrogen fuel cell technology has achieved cost reductions. Headquartered in Tennessee, US, with a subsidiary in Chennai, India, Protonas was founded by David DeVries, a veteran of the fuel cell industry since 1996.

The company aims to deploy cost-efficient backup power applications in North America and power fuel cell engines for 3-wheeler and 4-wheeler vehicles in India and other Asian markets. Protonas leverages advanced hydrogen fuel cell technology to deliver sustainable energy solutions and plans to collaborate with companies in India to develop carbon-neutral vehicles.

Other news

Inertial Labs and ideaForge partner for UAV based LiDAR Solutions

ideaForge Technology Limited, a drone technology company, has partnered with Inertial Labs, a company dealing in inertial sensors and integrated GPS systems, for the integration of Inertial Labs' RESEPI LiDAR solution into ideaForge's unmanned aerial vehicles (UAVs).

As part of their partnership, Inertial Labs and ideaForge will provide surveying, mapping, and inspection solutions for applications in mining, forestry, GIS, land surveys, and water resources management. By integrating Inertial Labs' RESEPI LiDAR payloads with ideaForge's NETRA/Q6 UAVs, they will deliver highly accurate aerial data with extreme precision and speed.

Key specifications include a portable MTOW of less than 6kg, multi-use platform capabilities (27X Zoom, Thermal, Mapping, Multispectral, LiDAR), fully autonomous flying with built-in fail-safes, and custom maps for accurate resolution in various terrains.

Resumod launches AI-Driven staffing solution

Resumod, an HR solutions provider has launched its AI-driven staffing solution. This AI system aims to reduce the time taken for initial resume screening by up to 50%.

Moreover, through the use of chatbots, Resumod also felicitates initial screening and labeling of resumes for future use.

Resumod empowers jobseekers with actionable insights by offering detailed resume analysis against specific job descriptions, helping individuals tailor their resumes for maximum impact. Additionally, Resumod now provides an "expert help service," allowing users to hire experienced resume writers for professional resume creation and learning, available for INR 449.

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