Startup news and updates: Daily roundup (October 21, 2024)

Funding

Uravu secures funding led by AWE Funds 

Bengaluru-based startup Uravu has completed its latest undisclosed funding round, led by AWE Funds.

This new funding will allow Uravu to scale its premium beverage model, which currently provides over 4,000 litres of water daily to more than 55 hospitality clients in Bengaluru, including The Leela, Royal Orchid, and Hyatt Centric.

Uravu is introducing a zero-carbon solution for industries like pharmaceuticals, data centres, and green hydrogen companies requiring large water volumes daily. The solution uses renewable energy sources like solar PV and waste heat to produce water on an industrial scale.

Other news

Gemba Capital onboards ex Yes Bank Group President Somak Ghosh to advisory board

Gemba Capital, a micro VC fund, has appointed Somak Ghosh to the advisory board.

Ghosh, with over 30 years of experience in corporate and development banking, venture capital/private equity, infrastructure finance, and corporate strategy, joined Yes Bank as Group President in 2004.

He led the bank's corporate and development banking charter and was designated a 'Professional Co-founder' for his contribution to building the midsized bank. By 2012, Somak managed over Rs 40,000 crore of the bank's assets and over 50% of its profits.

Gemba Capital has invested in over 50 startups, including Plum Insurtech, Grip Invest, Wint Wealth, Zuper, Navadhan, Volt Money, Click Post, Showroom, Strata, and Kredmint. It recently received the SEBI License for its second fund of $30 million, investing in seed/pre-seed startups across fintech, consumer tech, and B2B platforms.

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Collective Artists Network and Pinterest create 1 lakh shoppable content pieces

Collective Artists Network and Pinterest have created 1 lakh shoppable content pieces for Myntra, India's largest fashion and lifestyle destination, showcasing the potential of technology-driven content production for creator commerce platforms.

The partnership produced 30,000 shoppable content pieces during the Myntra Big Fashion Festival in two weeks.

Collective Artists Network's Myntra campaign, featuring 1 lakh shoppable pieces, is the largest content effort in affiliate marketing in a short time, demonstrating creator-led commerce.

Urban Space expands into quick commerce with launch on Blinkit, Zepto

Urban Space, a home furnishing brand, is expanding its quick commerce presence by launching on popular platforms like Blinkit and Zepto, allowing customers to quickly access stylish home essentials and meet the evolving demands of modern consumers.

It operates in over 25 cities, primarily in Tier I and Tier II markets, with plans to expand nationwide in the near future.

The initiative aims to boost market share and establish it as a preferred home decor brand. The quick delivery service is expected to boost repeat purchases and customer retention, contributing to a loyal customer base and consistent revenue streams.

Origin launches fresh pods in Bengaluru, promises 12-hour fresh produce delivery

Origin, a fresh produce quick commerce brand, has opened Fresh Pods stores in select Bengaluru locations, ensuring delivery of fresh produce within 12 hours of harvest and under 20 minutes from placing an order.

It aims to cover 90% of Bengaluru by Dec 2024, demonstrating its rapid expansion strategy.

The startup has achieved 1,000 orders within a week of launch. Origin's hyperlocal delivery model, which operates eight Fresh Pods in various locations, enables 10-minute delivery in surrounding areas, reducing delivery times and logistics costs. By mid-November, Origin plans to establish 10 additional Fresh Pods, ensuring access to ultra-fresh produce, as over 52% of consumers desire delivery within 30 minutes.

It sources directly from over 5,000 farmers, reducing post-harvest losses to just below 5%. The stores are designed to preserve the freshness of fruits and vegetables, with produce packed directly from the warehouse.

Origin's Fresh Pods feature dedicated areas for temperature control, chillers, and isolation zones for fruits and vegetables that don't require intensive temperature regulation.

Hoonartek launches RealizeAI suite to drive AI innovation across Indian industries

Hoonartek, a data, digital and AI solutions platform, has launched RealizeAISM, an advanced suite of predictive, generative, and conversational AI solutions for the Indian market, specifically targeting BFSI, telecom, media, retail, healthcare, and life sciences industries.

The company's expertise in data-driven transformation helps businesses maximise the benefits of AI and meet the needs of various industries, delivering customised solutions beyond Proof of Concept (PoC) and integrating seamlessly into existing systems, it said in a statement.

RealizeAI uses advanced AI technologies to help businesses identify patterns, predict future trends, and make informed decisions. It uses machine learning models and natural language processing to generate insights in text, visuals, and synthetic data formats.

(This article will be updated with the latest news throughout the day.)