Startup news and updates: Daily roundup (November 25, 2024)

Funding news

Ukhi secures $1.2M seed funding 

Ukhi, a biomaterials startup, has secured $1.2 million in pre-seed funding to develop novel, biodegradable, and compostable biomaterials aimed at transforming the sustainable packaging industry.

The funding round combines equity investment led by 100Unicorns, with participation from Venture Catalysts and angel investor Avtar Monga, alongside debt funding from SIDBI (Small Industries Development Bank of India).

The fresh capital will be used to scale its production capabilities, advance its materials research, and expand its sustainable packaging solutions globally. 

Beyond Applinces raises $2M in seed funding 

Beyond Appliances, a smart kitchen appliance brand, has raised $2 million in a seed funding round led by Fireside Venture Investment Fund III. 

The round also saw participation from Dharana Capital and notable angel investors, including Shezan Bhojani (Founder, Design Cafe), Saurabh Jain and Ramakant Sharma (Co-founders, Livspace), and Chandru Kalro (former CEO, TTK Prestige). 

The firm, founded in 2024 by Eshwar K Vikas and Rakesh Patil, will use the capital to accelerate its technology development and manufacturing capabilities. Beyond Appliances' products are available on major ecommerce platforms, including Amazon and Flipkart, and select retail stores across Bengaluru. 

The company in a statement said it holds multiple patents and plans to expand its product portfolio with eight innovations within existing categories before venturing into new segments.

Homegrown food brand Indic Wisdom raises $2M in pre-Series A round

Indic Wisdom, a Mumbai-based manufacturer of high-quality wood-pressed oils, raised $2 million in a pre-Series A round led by Rockstud Capital and other investors.

Founded by Prajakta Khare and Kaustubh Khare, Indic Wisdom offers a comprehensive product range, including cooking oil, multipurpose oil, and speciality oils.

Other news

Motul India, Zypp Electric partner to launch EV repair and maintenance training

Motul India and Zypp Electric have entered a strategic partnership to conduct a training programme on two-wheeler EV repair and maintenance for mechanics. 

This initiative started with a two-day training programme for a select group of mechanics in Gurugram and will certify over 10,000 mechanics across India as EV-certified specialists.

This inaugural programme offered a mix of in-depth classroom and practical training. Mechanics learned core principles of EV electrical systems, diagnostics and troubleshooting while gaining practical skillsets essential for servicing electric two-wheelers. 

The programme achieved significant improvement in participants' technical capabilities, with mechanics showing up to 50% improvement in their EV repair knowledge post-training.

MakeMyTrip Introduces multi-currency payment 

MakeMyTrip, an online travel company, has announced its compliance with GDPR, enabling accessibility to the MMT Platform from more than 150 countries. 

The company also offers multi-currency payment options, making it easier for users to book flights and hotels in the currency of their choice. The launch of the multi-currency feature will help connect international travellers directly with the company’s extensive supply network, offering accommodation in over 2,100 cities across India.  

The new multi-currency feature allows payments in major global currencies, including the Bahraini Dinar, British Pound Sterling, Canadian Dollar, Thai Baht, UAE Dirham, and US Dollar, among many others.

This feature allows travellers to receive travel vouchers and refunds in the currency used during payment.

Also Read

Deep Kalra's MakeMyTrip: From Failure to a $2.84 Billion Digital Travel Revolution.

Plastonix and Vee Technologies to develop a plastic waste recycling system

Plastonix Inc., a Canada-based plastics recycling technologies company, has signed a Memorandum of Understanding (MOU) with Bengaluru and New York co-headquartered technology and IT services company Vee Technologies to develop a plastic waste recycling system in India using Plastonix’s patent-pending technology. 

Vee Technologies will select a site for its first facility, the Pilot Project, where its in-house engineering team will design and build the plant with proprietary equipment.

Once the pilot goals are met, Vee Technologies and Plastonix will launch a plastic recycling programme in India to reduce plastic waste. Vee Technologies will incorporate Plastonix’s technology into all recycling facilities it develops and operates as part of the joint venture.

Plastonix has developed a simplified method for chemically recycling plastic and other petroleum-derived materials. This technology transforms all plastic types—whether separate or mixed—into a new plastic material that can be repurposed into durable goods, such as construction building materials.

abCoffee appoints former OYO leader as President of Operations

abCoffee has appointed Rohit Tiwari as its new President of Operations. 

Tiwari brings a wealth of expertise in scaling businesses. He has previously worked at OYO and Prepladder (an Unacademy company) and driven customer acquisition and network expansion to over 600,000 touchpoints at Airtel Payments  Bank. He also held leadership roles at FMCG giants like Unilever and Marico.

At OYO, Rohit was instrumental in scaling operational teams and improving service efficiencies, a testament to his strategic foresight and operational expertise. Meanwhile, his role at Airtel Payments Bank underscores his experience in establishing and managing extensive distribution networks—skills that align seamlessly with abCoffee’s growth strategy as it targets new markets and innovative customer engagement channels.

Tiwari would be helping strengthen its position in the takeout coffee segment, focusing on convenience, affordability, and quality through efficient, tech-driven operations.

Hoonartek appoints tech veteran to advisory board

Hoonartek, a company offering data, digital, and AI solutions, has appointed Shaurya Agrawal to its Advisory Board.

Shaurya Agrawal, an IT executive with over 25 years of global experience, brings a wealth of knowledge in digital transformation, analytics, data engineering, and AI/ML. Previously he has led data-intensive initiatives valued at over $100 million, advising major clients through top-tier consulting firms like KPMG and Capgemini.

Carrum Mobility expands operations to Mumbai in partnership with Uber

Carrum, a fleet management services company, is expanding its network into Mumbai in partnership with Uber. 

Carrum's expansion into Mumbai is a key part of its growth strategy, with the company expecting the region to account for 20% of its fleet and revenue in the coming years. This move will strengthen its market position and help build a sustainable network in major cities.

By December 2024, Carrum plans to have 1,200 vehicles operating across Mumbai, Bengaluru, and Hyderabad. The company aims to grow its fleet to over 1,500 vehicles in major Indian cities by the end of fiscal year 2025.

Digital real estate platform AltDRX appoints new CMO, CPO 

AltDRX, a digital real estate investment platform, has appointed Manisheel Gautam as the Chief Marketing Officer (CMO) and Head of Customer-Facing and Shikhar Daydar as the Chief Product Officer (CPO).

Gautam, an IIT Bombay and IIM Ahmedabad alumnus, previously worked at Ola and contributed to the company's growth from 2014 to 2021 in marketing, category management, and international expansion. He later co-founded Investorey, a platform for alternative investments, raising $1 million in seed funding.

Daydar, also an IIT Bombay graduate, brings expertise in product development and data analytics. He also worked at Ola from 2015 to 2019, focusing on revenue management and product development, and was part of the team that launched Ola Micro.

At Mobile Premier League, he developed skill-based matching systems and optimised fantasy sports events, enhancing revenues and contest sizes.

Collective Artists Network's Galleri5 unveils AI-powered suite 

New media conglomerate Collective Artists Network introduced the Galleri5 AI-powered suite for brand marketing. 

The platform combines advanced technology with cultural intelligence to streamline content creation, identify emerging trends, and provide real-time insights, helping brands connect with audiences more effectively, the company said in a statement.

Its core feature is its ability to generate hyper-realistic catalogue visuals from basic product images, eliminating the need for traditional photoshoots. Galleri5 also includes a social intelligence module for analysing audience sentiment and campaign performance. The trend discovery tool identifies emerging topics across social media, helping brands stay ahead. 

The company has partnered with top social platforms, including over 50 leading brands.

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