Startup news and updates: daily roundup (August 27, 2024)

Funding news

AI startup just words bags $1.7M in seed funding

AI-first marketing platform, just words, secured $1.7 million in a seed funding round led by Peak XV Partners and Y Combinator.

The company aims to revolutionise user-facing messaging by leveraging AI to deliver highly personalised content in real-time.

“With this funding, we will invest in expanding our AI capabilities and building a world-class team to meet the growing demand for personalised messaging solutions,” said Neha Mittal, Co-founder and CEO, just words.

The startup has gained traction with AI-first companies, including Grammarly, BeReal, and BiggerPockets.

InsurancePadosi raises $500K in pre-seed funding

Insurtech platform InsurancePadosi raised $500,000 in a pre-seed funding round led by Antler. It also saw participation from angel investors Hemant Kaul (former CEO and MD of Bajaj Allianz) and Satish Pillai (former CEO and MD of TransUnion CIBIL).

It will use the capital to strengthen its technology platform, expand product offerings, and enhance sales and marketing efforts.

It said it plans to venture into underwriting and claims management to provide a comprehensive, end-to-end customer experience.

“In response, we’ve developed a system that reduces the average insurance purchase time from 70 minutes to just 3-5 minutes, with a 95% accuracy rate in matching products to individual needs… aiming to help over 1 million customers secure optimal coverage by the end of next year,” said Vaibhav Kathju, CEO of InsurancePadosi, in a statement.

plutos ONE secures $2M

plutos ONE, a technical service provider (TSP) for the Bharat Bill Payments System (BBPS), raised $2 million in a seed round led by Bengaluru-based StartupXseed, Tokyo-based Genesia Ventures, Auxano Capital, Raghuvanshi Investments, and other investors.

The company plans to utilise the funds for onboarding banks as biller operating units and agent institutions on the BBPS Network, it said in a statement.

“Our latest round is a huge boost to our plans to build the payments infrastructure for the next 200 million Indians,” said Rajjat Gulati, Co-founder and CEO of plutos ONE.

DeepMatrix raises $1.6M in pre-Series A funding

Deeptech startup DeepMatrix secured $1.6 million in a pre-Series A round led by YourNest, Arali Ventures, and angel investors, including Abhishek Goyal of Traxcn.

The company will use the funds to accelerate its growth, enhance mining and asset management product offerings, and expand its presence in the US and Australia.

Kreedo Early Childhood Solutions bags $4M

Bengaluru-based Kreedo Early Childhood Solutions secured $4 million in Series A funding led by Singapore-based Heritas Capital and existing investor UBS Optimus Foundation.

Other existing investors, Gray Matters Capital, 1Crowd, The Chennai Angels, and The Joka Angel Network, among others, also participated in the round. It will use the capital to enhance its product offerings and expand into new geographies in India.

"With incoming demand from our school partners, we also plan to extend our product offerings moving upwards to Grades 3-5 and enhance Practico, our digital home learning platform. We will also be scaling our specialised pre-primary teacher training franchise program that will create a pool of job-ready qualified teachers for Kreedo partner schools and the early education market in general," said Mridula Shridhar, Co-Founder, Kreedo.

Other News

Mamaearth’s Abhiishekk Raj Pandey joins Zalon as Co-founder and CEO

Zalon, the flagship brand of Z Revolution Tech Pvt Ltd, appointed ex-Mamaearth employee, Abhiishekk Raj Pandey, as co-founder and CEO.

Zalon offers a comprehensive platform that connects salons to a wide range of beauty brands, where they can buy beauty products and get free salon software to manage their business P&L.

“Abhiishekk brings a wealth of experience and a visionary approach that aligns perfectly with our goals and aspirations. We are thrilled to onboard him to lead the company and believe his leadership will play a crucial role in driving our company forward and achieving new milestones. We are confident that his expertise and insights will be invaluable as we continue to grow and innovate,” said Ayush Ahuja and Sunil Khatri, Co-founders of Zalon.

Lip-Bu Tan joins 4baseCare’s advisory board

4baseCare onboarded Lip-Bu Tan, Chairman of Walden International, and Founding Managing Partner at Walden Catalyst Ventures, to its advisory board.

Lip-Bu Tan has over 30 years of experience in deeptech venture capital and is also the anchor investor and advisor at Yali Capital, which recently led 4baseCare’s $6 million Series A funding round.

"4baseCare is led by founders who are extremely passionate about personalised medicine while maintaining a strong strategic focus on the business. Their test meets a very large unmet need in the Asian and Middle Eastern markets where treatment decisions for cancer have primarily relied on genomic data from Caucasian populations. 4baseCare is bridging this critical genomics data gap in these regions, and I believe that it has the potential to make a big difference to the treatment approaches used in cancer," said Lip-Bu Tan.

The company plans to set up genomics laboratories in the Philippines, Nepal, and Dubai over the next few months.

Zvyka appoints Prasad Routray as Co-founder, Chief Strategy Officer

Zvyka, a marketplace for human capital management, appointed Prasad Routray as its co-founder and CSO.

Routray, the former VP and Business Head of Airtel Payments Bank, will be responsible for developing the business in India and partnering with different services and onboards on the platform, the company said in a statement.

"Prasad is a pivotal addition to the team as we expand to a diverse country like India. His deep expertise makes him the perfect partner to lead our growth plans," said Amber Srivastava, Founder of Zvyka.

The company aims to become a one-stop solution for startups by providing all services under one roof, making hiring more affordable and accessible.

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