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

Funding

AltiusHub bags $2.25M in seed funding led by Endiya Partners

AltiusHub, a startup that helps manufacturing companies monitor their supply chain, has raised $2.25 million in a seed funding round led by Endiya Partners. The round saw additional backing from friends and family.

The funds will be used to strengthen AltiusHub's engineering team and hire senior talent in specific sectors. 

The company helps manufacturers secure their supply chain. It caters to sectors such as life sciences, defence, fine chemicals, and luxury goods, which need strong supply chain systems and effective anti-counterfeiting solutions. For instance, in the pharmaceutical sector, its platform prevents counterfeit drugs from infiltrating the supply chain.

“AltiusHub was born out of a deep-seated concern with the vulnerabilities in traditional supply chains. We saw firsthand the devastating consequences of counterfeit products, particularly in industries like pharmaceuticals," said Abiram Vijaykumar, Co-founder, AltiusHub. 

"Our vision is to create a technology that would not only enhance supply chain visibility but also provide a proactive defence against counterfeit threats,” he added.

The startup was founded in 2023 in Hyderabad by Siddharth Reddy and Vijaykumar.

Ticket9 secures funds from from actress Nayanthara and film director Vignesh Shivan

Event tech startup Ticket9 has secured an undisclosed amount in funding from actress Nayanthara and film director Vignesh Shivan. They will join the company as strategic investors.

The company had previously raised $200K in a pre-seed round from prominent investors. The new funding will be used to enhance Ticket9's technological infrastructure and expand its market presence.

“Ticket9 is well on its way to becoming a dynamic player in the events and entertainment space, and I have no doubt it will grow into a unicorn. I truly believe in its potential, and together we can soar with this user-friendly platform, making a significant impact in both the entertainment industry and the event space,” said Shivan. 

Founded by Yazhini Shanmugam and Santhos Premraj, Ticket9,is an event tech startup which offers a SaaS platform designed to help organisers create, manage, promote, and monetise events of any scale.

Other news

Aon study reveals cautious approach to campus hiring

Aon's latest study reveals a cautious approach to campus hiring, with many companies instituting hiring freezes and reducing recruitment volumes. 

Aon plc, a global professional services company, has released its 2024-25 Campus Study Report. In its thirteenth edition, the annual report draws from the responses of over 250 organisations, providing an analysis of campus recruitment trends across multiple industries and qualification levels. 

The study shows that hiring for MBA graduates and diploma holders, including those who have completed vocational courses, grew 38% and 30% respectively, in the fiscal year 2024. It shows some momentum in internships, lateral hiring, and roles requiring niche qualifications, like chartered accountant (CA) and chartered financial analyst (CFA), which saw year-on-year increases of 47%, 46%, and 40%.

“While there is a clear focus on strategic hiring, companies must prioritise building a strong employee value proposition that aligns with the expectations of the new generation,” said Saachi Verma, Senior Consultant, Talent Solutions in India for Aon and the study’s lead. 

“Designing a compelling value proposition for new hires that includes both a competitive compensation and bonus package along with learning opportunities and career growth will help attract and retain top talent for organisations,” she added. 

Airbnb, Fly Homes Partner to fuel short-term rentals for Indian students studying abroad

Airbnb, an US-based online renting platform, has partnered with Fly Homes, the international student accommodation arm of edtech firm Leverage Edu. 

This partnership seeks to inform students preparing to study abroad about Airbnb as a viable choice for short-term accommodations while they find permanent housing in the host country.

According to data from the Ministry of External Affairs, over 1.33 million Indian students are currently studying abroad. Projections from a Redseer study suggest that this number could grow to 2 million by 2027, positioning India as the largest source of international students globally.

"Through this partnership with Leverage Edu, we aim to build consideration for Airbnb as a convenient option for students travelling abroad for their education and provide them short-term stays during the transitional period,” said Amanpreet Bajaj, General Manager, Airbnb India, Southeast Asia, Hong Kong, and Taiwan.

DBT-BIRAC partners with Blockchain For Impact to boost biomedical innovation in India

DBT-BIRAC, a Government of India enterprise, has partnered with Blockchain For Impact to fuel India’s biomedical research and tech-driven R&D. The collaboration was revealed at the 4th Global Bio India event, with support from Minister of Science, Jitendra Singh.

The partnership will enable Blockchain For Impact's deeptech expertise and DBT-BIRAC's network to enhance medical preparedness, bridge healthcare gaps, and provide lab-to-market support. It aims to boost India's R&D profile globally, support biomedical startups and life sciences ventures, offer mentorship, accelerate startup programmes, and fund SMEs for product development.

“By partnering with DBT-BIRAC, we are committed towards cultivating biotech innovation and supporting cutting-edge healthtech innovations to improve the healthcare accessibility and outcomes for communities across the country,” said Sandeep Nailwal, Founder, Blockchain For Impact.

IIMA Venture-backed Marsh Harrier acquires AJA Vision Technologies

Agritech startup Marsh Harrier, backed by IIMA Venture (formerly IIMA-CIIE), has acquired Ahmedabad-based computer vision firm AJA Vision Technologies in an undisclosed deal.

The acquisition will bolster Marsh Harrier's automation and computer vision capabilities, which are vital for advancing its packhouse solutions. By integrating AJA Vision Technologies' software stack and skilled team, Marsh Harrier aims to boost its technological edge, solidify its market presence, and expand into new product categories.

By incorporating AJA Vision Technologies' expertise, Marsh Harrier aims to accelerate its product lines for integrated solutions such as grading, sorting, and online packing of fruits and vegetables.

Nitin Gupta, CEO of Sickle Innovations Private Limited, the parent company of Marsh Harrier, said, “We have seen tremendous growth in the last few years in the packhouse automation business, and this is the perfect time and opportunity to strengthen our internal capability to meet the demand of the industry. This move also goes in line with our expansion plans to build new categories.”