Startup news and updates: Daily roundup (August 7, 2024)

Funding

SigTuple raises $4M led by SIDBI Venture Capital

Healthcare tech startup SigTuple has raised Rs 33 crore ($4 million) led by SIDBI Venture Capital, with participation from existing investors including Endiya Partners and a few strategic leaders from the healthcare sector. The startup will use this new capital to drive geographical expansion, expand its product portfolio and support regulatory clearances.

Since 2020, SigTuple has focused on its core product, AI100, which is now gaining significant traction in the Indian market with major diagnostics industry players as customers. Partnering with Horiba Medical as its South Asia distribution channel, SigTuple has also expanded into Southeast Asia, the Middle East, and North Africa, and is poised to enter Europe and the Americas.

In September 2023, AI100 received US FDA 510(k) approval, making SigTuple the third company globally—and the first in India—to achieve this for AI-assisted digital haematology.

Online singles club Juleo raises $2.5M for online dating and matrimony

Juleo, a dating platform for singles, raised $2.5 million in an angel funding round from 180+ prominent investors to solve the online dating and matchmaking crisis in India. The list of angel investors includes Ramakant Sharma, Founder of Livspace; Kunal Shah, Founder of CRED; Ruchi Deepak, Co-founder of Acko; Leo Puri, ex-chairman of JP Morgan India; and Harsh Jain and Lalit Keshre, Founders of Groww.

Founded in 2023 by Chiranjeev Ghai and Varun Sud, Juleo is inspired by the modus operandi of the traditional Indian matchmaker and offers a more responsible and healthy approach to modern dating and matrimony by fostering genuine, real-life meetings.

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Karma Primary Healthcare bags Rs 11 Cr in Series A funding to enhance rural health services

Karma Primary Healthcare has raised Rs 11 crore (approx. $1.3 million) in Series A funding from UBS Optimus Foundation, with participation from 1Crowd and other investors.

It plans to invest capital to enhance its technological capabilities, expand value-added services, and expand its team to develop a patient-centric care model for rural India.

Karma aims to reach 100 locations serving over 150,000 patients annually by 2027.

Founded in 2014, Karma provides quality primary healthcare in India through its assisted telemedicine model. Over the past three years, it has grown by threefold, impacting over 350,000 lives with positive health outcomes, with 55% of them being women.

Other news

Mygate partners with Saina Nehwal

Community management app MyGate unveiled a collaboration with Olympic medal winner Saina Nehwal. Aimed at celebrating the spirit of sports that brings communities together, this move aligns with the ongoing excitement of the Olympics 2024.

At the centre of this partnership is a giveaway through a video wherein Saina Nehwal invites residents to participate in a mini treasure hunt. Participants need to browse through the listings on Mygate Buy & Sell to find and claim the badminton racket signed by Saina Nehwal.

With the rackets listed as a giveaway on Mygate Buy & Sell, the contest is designed to engage Mygate users on the app, driving traffic. By tapping into the widespread enthusiasm for sports among community residents, Mygate aims to create a fun and interactive experience.

Fintech major Niyo expands with new travel-banking offerings

Niyo, a travel banking platform, has expanded into the flight bookings and visa application segments, offering integrated travel-banking solutions to travellers.

Niyo has been offering zero-forex markup debit and credit cards to India's two million international travellers in partnership with banks. This strategic move aims to provide end-to-end travel solutions to customers via the app and tap into India's burgeoning new-to-international travellers segment.

Niyo has developed an in-house flight booking platform to offer affordable domestic and international flight options with zero convenience fees. Additionally, Niyo has simplified the visa application process with the launch of a new visa booking product on its app, providing affordability and convenience to customers travelling internationally at zero service fee.

Shadowfax partners with RapidShyp to extend delivery to D2C brands

RapidShyp, an ecommerce shipping platform launched by Om Logistics, has partnered with Shadowfax to offer express delivery services to D2C brands across India. The integration of Shadowfax into RapidShyp's courier network will facilitate the delivery of services across 15,000 pin codes in India. This milestone will be followed by a broader expansion to other regions, ensuring comprehensive services nationwide.

Shadowfax's extensive delivery network and expertise in last-mile logistics, combined with RapidShyp's cutting-edge technology and commitment to excellence, aims for a seamless delivery experience for D2C brands.

AESL onboards Rishabh Pant as brand ambassador

Aakash Educational Services Limited (AESL), a test preparation company, has appointed Indian cricketer-batter Rishabh Pant as its brand ambassador.

Pant has been appointed as the Brand Ambassador for a period of one year.

AESL offers comprehensive services for students preparing for high-stakes medical, engineering, school/board, and competitive exams. It has over 315 centres across India and about 400,000 students.

EvenFlow appoints Shashank Ranjan as Co-founder

Ecommerce startup Evenflow has appointed Shashank Ranjan as Co-founder, having previously served as the Head of Sourcing.

With Ranjan, the startup boosted warehousing and logistics efficiency by 50%, optimising storage, accelerating inventory rotation, enabling direct shipments, and creating scalable processes, it said in a statement.

Founded in 2021 by Utsav Agarwal and Pulkit Chhabra, Evenflow is a Thrasio-style marketplace aggregator based in Mumbai, which focuses on acquiring and scaling third-party sellers on ecommerce platforms like Amazon, Flipkart, and Meesho.

VAMA.app joins ONDC Network

VAMA.app, a spiritual virtual platform, has been onboarded onto the ONDC Network. VAMA.app is the latest entrant in the growing spiritual tech category on the Network, joining notable entities like ISKCON and Hari Bol. 

By leveraging the extensive reach of the ONDC Network, VAMA.app aims to broaden its ability to provide spirituality solutions to a wider consumer base. This move aims to enhance convenience for existing users and also introduce VAMA.app’s offerings to a potentially untapped audience seeking digital spiritual solutions.

Established in late 2020 by Aacharya Dev, Himanshu Semwal, and Manu Jain, VAMA.app boasts an impressive roster of partnerships that includes over 250 temples and a network of more than 300 astrologers.

Rohit Sharma partners with True Elements to launch ‘RS by True Elements’

Indian cricket captain and player Rohit Sharma has partnered with True Elements to launch a licensed brand—RS by True Elements, to co-build a product line.

Rohit Sharma will be the ambassador of True Elements along with spearheading RS by True Elements.

True Elements is a homegrown healthy foods brand that makes healthy breakfast & snacks (oats, muesli, healthy seeds, regional snacks) and gift hampers. True Elements and Rohit Sharma will co-create and market products under the RS brand name, with RISE Worldwide managing the partnership. 

D2C fashion brand Shobitam acquires IsadoraLife

D2C ethnic fashion brand Shobitam today announced its strategic acquisition of  Isadoralife, the largest brand in the ready-to-wear saree market – with a goal to make India’s sarees accessible for all.

This partnership aims to address the challenges of unfamiliarity with draping and also making inroads into a larger demographic base, especially the younger consumers worldwide, showcasing sarees as a wholesome ‘must have’ attire in a wardrobe across India and globally. 

Adya.ai and Google Cloud collaborate to launch ATMA AppStudio

Adya.ai, an ONDC (Open Network for Digital Commerce) technology solutions provider, has announced a strategic collaboration with Google Cloud to accelerate ONDC adoption by enterprises. At the core of this collaboration is "ATMA (Aatmanirbhar Technology Marketplace by Adya) AppStudio'', a self-serve portal tailored for rapid ONDC app deployment.

ATMA AppStudio allows enterprises to swiftly build and customize apps based on their requirements and deploy them on Google Cloud within a day. This drives ONDC adoption at a 0.002% of the time it takes today and 1.8% of the cost spent as on date. 

This strategic collaboration with Google Cloud is a step in Adya's commitment towards making ONDC a success, establishing the course for enterprises as well as consumers on the path towards digital inclusion.

Jeh Aerospace and GridRaster partner for XR integration in aerospace manufacturing

Jeh Aerospace, a player in precision aerospace manufacturing, and GridRaster, a pioneer in Spatial AI and Extended Reality (XR) solutions, announced a strategic partnership to transform aerospace manufacturing through the integration of spatial AI, augmented reality (AR) and virtual reality (VR) technologies. This collaboration will bring cutting-edge XR capabilities to training, inspection, and work-assistant use cases in aerospace manufacturing.

Jeh Aerospace, known for its advanced manufacturing facilities and expertise in delivering high-quality aerospace components, will leverage GridRaster's state-of-the-art Spatial AI and Dynamic XR platform to enhance various aspects of its operations. This partnership will drive productivity, safety, and efficiency improvements across Jeh Aerospace's manufacturing processes.

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