Startup news and updates: daily roundup (September 2, 2024)

Mana Yatri app gains traction in Hyderabad

Hyderabad-based cab and auto booking app Mana Yatri has onboarded over 35,000 autos and 25,000 cabs in the city.

Mana Yatri offers fast booking with an average time of 30 seconds for autos and 40 seconds for cabs, said the company in a statement.

Operating on a zero-commission model, the app allows drivers to retain 100% of their earnings, which not only benefits them financially but also motivates them to provide better service like low cancellations, it added.

Part of the government-backed T-Hub and ONDC, Mana Yatri belongs to the Namma Yatri family of apps, which have enabled drivers to earn Rs 800 crore without any commission and helped passengers save nearly Rs 100 crore on their commute expenses, the statement said.

VFX firm Identical Brains Studios files DRHP with NSE Emerge

Visual effects company Identical Brains Studios has filed its draft red herring prospectus (DRHP) with NSE Emerge.

The company’s initial public offering comprises a fresh issuance of up to 36,94,000 equity shares, with a face value of Rs 10, through the book-building route. Socradamus Capital Private Limited is the sole book running lead manager to the offer, while Bigshare Services Private Limited is the registrar.

The Mumbai-headquartered company offers a comprehensive suite of VFX services for films, web series, TV series, documentaries, and commercials. Its customers include leading film and content producers and Bollywood studios.

The company's project portfolio includes Khel Khel Mein, Murder in Mahim, Bad Cop, Article 370, Dream Girl 2, Indian 2, Rocket Boys, Kutch Express, Night Manager, Phone Bhoot, Angrezi Medium, Scam 1992: The Harshad Mehta Story, and Good Newwz. Its upcoming project is Criminal Justice 4.

Suryoday Small Finance Bank ties up with Tarrakki to offer digital fixed deposits

Fintech platform Tarrakki has partnered with new-age digital bank Suryoday Small Finance Bank to develop and offer digital fixed deposits.

Through this partnership, Tarrakki will help develop tech products that outperform legacy systems enabling Suryoday Small Finance Bank to efficiently onboard new customers and offer digital fixed deposit products

The collaboration will be in the form of software development kits and white-labelled offerings.

Aurionpro Payments goes live as an online payment aggregator

Aurionpro Payments, a subsidiary of Aurionpro, has gone live as an online payment aggregatorvfollowing the recent authorisation from the Reserve Bank of India.

The launch was officially announced at Global Fintech Fest 2024 in Mumbai, India, one of the largest fintech gatherings in the world.

AuroPay is a technology-driven payment receivable platform that empowers businesses to seamlessly receive payments through a variety of features, including payment request links, digital invoices, payment plans, and an intuitive dashboard.

Munish Seth is group MD of Data Link Investment Manager

Data Infrastructure Trust, an infrastructure investment trust sponsored by an affiliate of Brookfield Asset Management, has appointed Munish Seth as the group managing director of its investment manager, Data Link Investment Manager Private Limited.

Seth will lead the development and execution of the company’s long-term growth strategy to meet India’s evolving infrastructure and connectivity needs, across Data Infrastructure Trust and its subsidiaries (Summit Digitel and Crest Digitel) and any subsequent acquisition, said the company in a statement.

Seth has over 34 years of experience in the telecommunications space. Prior to this new role, he served as the country director at Google, where he led the platforms and devices ecosystem business, contributing to the growth of the Android ecosystem in India. He was also the executive sponsor representing Google with telecom operators in India. He has also held leadership positions at Meta and Alcatel Lucent.

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