Startup news and updates: Daily roundup (September 10, 2024)
YourStory presents the daily news roundup from the Indian startup ecosystem and beyond. Here's the roundup for Tuesday, September 10, 2024.
Colossa Ventures invests Rs 10 Cr in Exposome
, a women-centric venture capital firm, has acquired a 10% stake in Exposome Private Limited, a cleantech startup founded by Dr. Prerna Goradia in 2020.
Colossa Ventures’ investment of Rs 10 crore will help Exposome scale operations and expand its impact.
Exposome develops reusable molecular filters for air emission capture and wastewater treatment.
“Our mission at Colossa Ventures is to power high-quality, innovative, purpose-driven businesses being set up by women, with capital, capability and confidence to create a 10x impact on the broader economy,” said Ashu Suyash, Founder and CEO of Colossa Ventures.
“Prerna, a holder of over 50 global patents, is truly a visionary founder and a climate change trailblazer who is transforming the effluents and emissions landscape through manufacturing sector-relevant, regenerable solutions." Suyash added.
Supersquad raises Rs 2.1 Cr to expand creator-led travel experiences
Supersquad, a creator monetization startup, has raised Rs 2.1 crore in a pre-seed round led by WLDD, with participation from angel investors Nitin Rajput and Jivraj Singh Sachar.
Supersquad enables creators to earn through community-led travel experiences, allowing them to choose destinations, set prices, and promote trips via a provided booking page. Trips are fulfilled by Supersquad’s certified tour operators, including local guides.
The funds will be used to enhance the platform’s technology and expand the team.
"Travellers (especially the younger ones) are reluctant in buying generic tour packages from OTAs who are approaching the modern travel market with a ‘one size fits all’ mindset. We’re building Supersquad because Gen Z and Millennial travellers trust content creators for discovering new travel experiences and this behaviour will move billions of dollars from OTAs to the hands of creators. Supersquad wants to lead this disruption." said Akash Kadyan, CEO and Co-founder of Supersquad.
PhonePe partners with Liquid Group to expand UPI payments in Singapore
has partnered with cross-border payment provider Liquid Group to expand UPI QR payment acceptance in Singapore, enhancing convenience for Indian travelers.
This collaboration enables PhonePe users to scan and pay at Liquid Group’s extensive merchant network in Singapore, including popular tourist spots such as Changi Airport, restaurants, retailers, and sightseeing locations. Payments will be processed in Indian rupees (INR) for ease of use. The partnership is facilitated by Liquid Group’s integration with NPCI International Payments Limited.
Additionally, PhonePe users can receive international remittances via the PayNow-UPI corridor, and non-resident Indians in Singapore can link their NRE/NRO accounts to make payments in India for services like bill payments and fund transfers.
IndiQube earns CRISIL A+ rating; FY24 PAT triples to Rs 68 Cr
Flexible workspace company has been upgraded to a "CRISIL A+/Stable" rating after it reported Rs 841 crore in revenue in FY24, a 42% increase over Rs 592 crore in FY23.
Its profit after tax (PAT) more than tripled to Rs 67.7 crore from Rs 20.6 crore in FY23.
"According to CRISIL, this rating upgrade in Sep’24 reflects a sustained improvement in the business performance of IndiQube as evidenced by a healthy CAGR of 33.8% over the last 3 years. Additionally, the companies’ strong market position in the flexible workspace segment, diversified client base, healthy occupancy levels and a healthy financial risk profile have been listed amongst the key rating drivers," IndiQube said in a press release.
The company operates 6.5 million square feet of office space across 13 cities, serving over 500 clients. Backed by investors like WestBridge Capital and Ashish Gupta, IndiQube has raised $45 million in funding.
Garuda Aerospace and Agrowing partner to enhance AI-driven precision agriculture
Drone technology company has partnered with Agrowing, an Israeli leader in multispectral sensor and imagery technology for precision agriculture.
This collaboration aims to enhance Garuda’s Kisan drones by integrating Agrowing’s advanced AI-enabled sensors, which offer high-resolution, multispectral imaging with 11 and 15 bands.
The partnership will empower farmers in India and globally with affordable drone-based surveying solutions, enabling accurate monitoring of soil, plants, water, and environmental conditions.
The enhanced drones will help identify stressed zones in fields and provide actionable data for early intervention, boosting agricultural productivity and supporting sustainable farming practices.
Edited by Jyoti Narayan
