Startup news and updates: Daily roundup (September 5, 2024)

Funding

LiaPlus AI raises Rs 2 Cr in seed round led by Inflection Point Ventures

LiaPlus AI, an AI-driven customer support solution provider, has raised Rs 2 crore in a seed round, led by Inflection Point Ventures, with co-investors Chandigarh Angel Network and Growth91.

The funds will be used for product and technology advancements, team expansion, and improving sales and marketing strategies.

Lia is an AI Call Assistant for Sales and Customer Support, capable of performing tasks like humans. The AI Employees platform offers support in 18 languages, manages millions of calls per hour, and offers 24/7 operation. It allows businesses to hire AI-driven sales and customer support employees with just three clicks.

Operating in India, the Middle East, Africa and Australia, LiaPlus AI provides a marketplace for companies to hire AI-powered customer service agents quickly and efficiently, paving the way for AI-powered task management.

RecommerceX Secures $3.6M in Seed funding from Accel and Kae Capital

RecommerceX, a chemical recycling and sustainability startup, has secured a seed funding round of $3.6 million, backed by Accel and Kae Capital.

The investment will enable the company to establish itself as a trusted leader in the fragmented global recycling market, focusing on transparency, compliance, and technology-driven business.

RecommerceX, founded in 2024 by Shobhit Goel, Mohit Gulyani, and Ajay Gupta, processes industrial waste to recover critical materials and by-products, reducing dependence on raw materials and aiding in the decarbonisation of supply chains. It is operating across plastics, metals, and e-waste categories.

The Hosteller raises $4M in Series A led by V3 Ventures

The Hosteller, a backpacker hostel chain, raised $4 million in its Series A funding round, led by V3 Ventures, with participation from LV Angel Fund, FAO Ventures, Synergy Capital Partners, Unit-e Consulting, Ice.VC, Thrive Ventures, Chirag Jain, and real estate-based family offices.

Its valuation has been raised to around Rs 200 crore (about $25 million) due to the new investment.

The funds will be utilise to expand its presence across India to over 150 locations within the next 24 to 30 months.

The Hosteller, established in 2014, operates in 60 locations across India, including major cities and scenic spots. With a self-operated model, it offers consistent quality and a standardised backpacker experience, making it a popular choice for budget-conscious travelers.

Other news:

OML Entertainment elevates Tusharr Kumar to Chief Executive Officer

OML Entertainment, a cultural and creative company in branded content, advertising, and entertainment, has elevated Tusharr Kumar as its new CEO.

Kumar, with 15 years of experience in new-media, automotive, and FMCG industries, has been with OML Entertainment since 2012, serving in various roles. After a nine-year tenure, including five years as CEO, Gunjan Arya is leaving the company.

OML Entertainment is a creative and entertainment business network that has been instigating pop culture for over two decades, creating iconic moments across television, digital content, fan experiences, and artist-creator communities.

Infibeam Avenues’ CCAvenue collaborates with ShopSe India for its BNPL facility

Infibeam Avenues Ltd has partnered with ShopSe India, a digital-first EMI/BNPL marketplace, to launch its CCAvenue digital payments platform.

The partnership provides a flexible payment option for millions of Indian consumers, enabling them to make payments on numerous merchant websites using the CCAvenue payment gateway.

Infibeam Avenues Ltd offers payment infrastructure solutions, including acquiring and issuing solutions and offering infrastructure for banks. Infibeam Avenues' core Payment Gateway (PG) business offers over 200 payment options for merchants, allowing them to accept payments through websites and mobile devices in 27 international currencies.

It has over 10 million clients across digital payments and enterprise software platforms, including merchants, enterprises, corporations, governments, and financial institutions in both domestic and international markets. Infibeam Avenues has international operations in the United Arab Emirates, Saudi Arabia, Australia, and the United States, and a business presence in Oman with three of the largest banks in the country.

Nazara Technologies partners with Government of Telangana to Launch Nazara AI Center of Excellence (CoE) 

Nazara Technologies has signed a Memorandum of Understanding (MoU) with the Government of Telangana.

This partnership aims to establish an AI Center of Excellence in gaming and digital entertainment, positioning Nazara as a leader in AI-driven gaming and Telangana as a global AI innovation hub.

The Nazara AI CoE aims to drive research, development, and innovation in gaming, interactive media, gamified learning, and digital content using advanced technologies like AI, VR/AR, blockchain, and Web 3.0, while fostering policy development, supporting startups, and enhancing skills.

Physics Wallah grows 4x in the UAE and eyes further expansion

Physics Wallah entered the UAE market in 2023 through a strategic partnership with Knowledge Planet. Since then, operating as PW Gulf in the region, has experienced 4x growth, solidifying its position as a dominant force in the global edtech landscape.

PW Gulf is a UAE-based edtech platform that supports Indian students transitioning to higher education after 12th grade. With 12 centers in Dubai, Sharjah, and Abu Dhabi, it offers quality education within walking distance.

It also launched a premium online program last year, catering to the unique needs of students in the Gulf region. Today, it serves over 7,000 students across online, offline, and hybrid platforms in the GCC region.

PW Gulf is launching School Integrated Programs (SIPs) to enable schools to offer competitive coaching to students. The company plans to expand its offerings with Coding, AI, and upskilling programs, catering to students following British, American, and National curricula.

CoinSwitch introduces exclusive crypto investment solution for HNIs and Institutional Investors

CoinSwitch, a crypto trading platform, introduces specialised services for High Net-Worth Individuals and institutional investors, catering to their sophisticated investment needs.

It is launching new services for HNIs and institutions, offering premium crypto investment opportunities, personalized advisory, and robust risk management solutions. Its features include customised investment strategies, dedicated account management, professional tax filing assistance, and institutional-grade security.

Experts will work with users 24x7 to develop strategies that align with their financial goals, risk tolerance, and market outlook. Users will also have access to professional tax filing services. CoinSwitch ensures high levels of security with state-of-the-art encryption and secure custody solutions, following regulatory standards. Users will also gain early access to new products and services.

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