Startup news & updates: Daily roundup (September 19, 2024)

Funding news

Bookmybai raises Rs 2 Cr in Pre-Series A CCPS Round led by Inflection Point Ventures

Bookmybai, a domestic help service provider, has raised Rs 2 crore in a Pre-Series A CCPS Round, led by Inflection Point Ventures.

The Mumbai-based platform plans to use the funds to expand its network and enhance service efficiency by bringing in 50,000 additional housemaids to new locations.

Bookmybai, founded in 2016, connects families in India and abroad to hire reliable domestic help. The tech-enabled service connects domestic helpers with families, simplifying finding household staff for long-term needs.

With a database of over 200,000 registered housemaids, Bookmybai provides families access to a broad network of reliable, pre-screened candidates. It operates in cities like Mumbai, Pune, Bengaluru, and Hyderabad.

Stockal acquires Acru to bolster cross-border investing

Stockal, a B2B2C global investing platform, has acquired Acru, a company specialising in infrastructure solutions for Indian financial products.

With this acquisition, Stockal now offers a complete solution for cross-border investments, enabling Indian investors to access over 6,000 global securities and allowing NRIs and foreign investors to invest in India's markets. Having processed over Rs 15,000 crore in transactions, Stockal expects this acquisition to drive an additional Rs 500 to 1,000 crore of new investments into India within the next year.

Stockal is expanding its global presence with the Acru acquisition, expected to generate $1 million in revenue this year. The equity stock swap transaction will be executed in key international markets like the Middle East, Southeast Asia, and Africa.

Stockal plans to expand into emerging economies like Indonesia, Malaysia, Vietnam, Ghana, and Nigeria by the end of this year.

Other news

Wondrlab acquires OPA to boost global influencer marketing capabilities

Wondrlab, a martech network, has acquired OPA, an influencer marketing platform, marking its sixth strategic acquisition in the influencer marketing space.

OPA collaborates with over 300,000 influencers and 500+ brands. With an advanced tech stack and user interface, it handles 40,000 monthly collaborations, simplifying the complex process and building trust with influencers for large-scale campaign success.

Wondrlab, launched in 2020, aims to create a global network for marketing and digital business transformation. It offers a full-funnel approach to help clients create and monetize brands in a fragmented marketplace. The Wondrlab network includes What's Your Problem, Wisr, Opportune, Neon, and Cymetrix.

It recently launched its European operations with the acquisition of WebTalk, a Polish-based B2C digital marketing agency known for delivering outstanding outcomes in the Central and Eastern European region.

PayU Introduces Flash Pay for Secure, 10-Second Biometric Transactions

PayU has introduced Flash Pay, a biometric authentication solution for card payments. The solution aims to simplify the payment experience, increase transaction success rates, and enhance security, meeting both customer convenience and banks' stringent authentication requirements at the Global Fintech Festival 2024.

Flash Pay uses advanced biometric technology like fingerprint or facial recognition to securely authenticate payments, completing transactions in under 10 seconds. This eliminates the need for traditional OTP-based authentication, reducing manual errors and fraud risk, and eliminating the wait for OTP delivery.

It is a card payment authentication solution that integrates with banks' existing ACS infrastructure, allowing them to use SMS OTP. It offers advanced security features like device binding and jailbreak detection, and operates within EMVCo's 3D Secure protocols.

Flash Pay is supported by a fraud risk management engine, providing banks with enhanced control over customer authentication and aligning with the Reserve Bank of India's Additional Factor Authentication guidelines.

PayU plans to provide Flash Pay via SDKs, APIs, and web browser transactions, catering to all merchant needs.

Bigbasket teams up with Croma to launch electronics category with 10-Minute delivery

Bigbasket, a TATA enterprise, is launching its electronics category in partnership with Croma, offering mobile phones, laptops, PlayStation consoles, and microwaves for delivery in just 10 minutes.

Starting September 20, 2024, customers can order the iPhone 16 and enjoy lightning-fast delivery to their doorsteps in Bengaluru, Delhi-NCR, and Mumbai.

Bigbasket has expanded to over 400 cities in India, handling 15 million monthly orders. In 2020, it achieved $1 billion in annual revenues.

Flipkart holds workshop in Chennai to boost women-led businesses

Flipkart has held an orientation workshop in Chennai, partnering with Tamil Nadu Rural Incubator & Start-up Enabler (TN-RISE), to empower women entrepreneurs and self-help groups.

The workshop provided comprehensive insights into the Flipkart marketplace, including seller registration, product listing, and digital commerce processes.

Over 50 women-led businesses and self-help groups from Tamil Nadu participated, aiming to broaden their market reach and enhance their online presence with Flipkart's support. The workshop aimed to provide comprehensive insights into the Flipkart marketplace for online business growth.

Flipkart Samarth, launched in 2019, is a initiative promoting e-commerce growth for MSMEs, artisans, and underserved communities. It has positively impacted over 1.8 million artisans, weavers, women entrepreneurs, and SHGs. The program, in collaboration with state and central ministries, government departments, and organizations like TN-RISE, ensures these communities can participate in India's digital economy.

OYO CEO Ritesh Agarwal launches '7-Day Startup Challenge' to fuel India's aspiring entrepreneurs

Ritesh Agarwal, founder and CEO of OYO, has launched a programme called "7-Day Startup Challenge" to help aspiring Indian startups build and refine their business ideas. The initiative, supported by Startup India and Atmanirbhar Bharat, aims to provide business skills and innovative ideas for sustainable development.

The programme, which includes a Rs 10 lakh equity-free grant, was launched in collaboration with NAS.io and BackToBackSWE, a platform created by global influencer Nuseir Yassin.

A global startup programme, hosted on NAS.io, attracted nearly 3,000 participants from India, the US, Canada, and the UAE. The event focused on seven daily themes, covering business development aspects like goal setting, market research, product roadmap, and branding.

The five winners were Bharat Anubhav, a certified tourist guide marketplace; Ekogalaxy, a climate education platform; Harmony Sourcing, a global buyer-connecting platform; Farmkrate, an agricultural solutions startup; and Aura, a mental wellbeing initiative.

GoMechanic to launch EV-Centric service centers across India as electric vehicle sales surge

GoMechanic is launching EV-specific workshops across major cities in India to cater to the growing demand for electric mobility, as the country prepares for an exponential increase in electric vehicle sales.

It plans to expand its EV workshops across key metropolitan areas by March 2025, to double the number by the Financial Year 2026.

GoMechanic offers comprehensive, affordable, and reliable vehicle servicing solutions across over 800 service centers.

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