Startup news and updates: Daily roundup (September 12, 2024)
YourStory presents the daily news roundup from the Indian startup ecosystem and beyond. Here's the roundup for Thursday, September 12, 2024.
Funding
Mobile app development platform Apptile secures $1.2M
Apptile, a no-code mobile app development platform, has raised $1.2 million in additional funding. This latest investment, led by Singularity Early Opportunities Fund, with participation from Crown Trust and DeVC, brings the company’s total funding to $3.7 million.
The capital will be used to enhance Apptile’s platform, expand its product offerings, and accelerate the company's growth.
Apptile was launched last year by Rohit Modi, Samyam Annappa, and Vishal Sood. Last month, the company launched its live commerce solution, which allows creators and brands to offer interactive shopping experiences directly within their apps.
Wundrsight raises $400,000 in seed round led by Inflection Point Ventures
Wundrsight, a digital therapeutics startup, has secured $400,000 in a seed funding round led by Inflection Point Ventures. Social Alpha and several angel investors also participated in the round.
The funds will be used to expand Wundrsight's network of hospital and clinic partnerships across India and accelerate the development of its VR-based mental health solutions.
Wundrsight offers a virtual reality (VR) and AI-based therapy platform for mental healthcare management. Established in 2022, the company focuses on digitising and standardising mental health therapy using the immersive nature of VR.
Other news
JITO Incubation Centre launches Cohort 10
JITO Incubation and Innovation Foundation (JIIF), the community-based angel network, has launched the JITO Incubation Centre Cohort 10 Incubation Program to foster innovation and support early-stage startups.
The recently concluded Cohort 10 Bootcamp, held from August 1 to August 3, offered a learning environment with interactive workshops, panel discussions, and networking opportunities, engaging over 100 participants. Nine startups were selected to join the JIC Cohort 10. They were Meri Bhakti, Kwei, Oatizens, ChemcAl, Teachspoon Edtech, Nuava Sports, Claw Legaltech, Mono Space, and VrisaElectric.
Over the next three months, these startups will benefit from JIIF’s mentoring, co-working spaces, strategic support, marketing assistance, and more.
Meanwhile, JIIF has also opened applications for Cohort 11, with a deadline of September 30, 2024.
hBits launches its second asset in Bengaluru
hBits, a fractional ownership platform, has launched its second commercial Grade A asset in Bengaluru. This is just six months after marking its entry into the city.
The new opportunity, London Listed MNC, is in the commercial building Vaswani Centropolis in the central business district on Langford Road. The new asset is worth Rs 28.8 crore and aims to offer a five-year average rental yield of 8.55%.
With this new asset, the company now has 15 properties in its portfolio, with an AUM of approximately Rs 400 crore.
The newly launched asset spans a leasable area of 12,776 sq ft, having been leased for six years. The rental inflow and purchase price of the asset offers an entry yield of 8.75% and an expected internal rate of return of 15.12%.
The property marks hBits’ fourth asset launch in 2024.
NEWME starts 90-minute delivery
NEWME, a fashion-tech brand for Gen Z women in India, has launched 90-minute delivery in Delhi/NCR pin codes.
Delivery is currently available in select areas in Delhi-NCR, including Gurugram Sec-37, 40, DLF Cyber Hub, Dwarka, Palam Vihar, and Najafgarh. NEWME clocked in 100+ orders in less than 30 minutes of going live, and many of the orders were delivered in less than 25 minutes, said the company.
NEWME plans to expand the service to Mumbai, Bengaluru, and Hyderabad in the next two weeks.
(This article will be updated with the latest news throughout the day.)
Edited by Swetha Kannan
