Startup news and updates: Daily roundup (November 28, 2024)
YourStory presents the daily news roundup from the Indian startup ecosystem and beyond. Here's the roundup for Thursday, November 28, 2024.
Funding news
Althion raises Rs 3.6 Cr in pre-Series A funding round
Water-tech company Althion has raised Rs 3.6 crore in a pre-Series A funding round from IAN group-powered BioAngels.
The round also witnessed participation from investors Arun Seth, Om Manchanda, KNK Venkatraman, and Shubham Rastogi.
Through this infusion, Althion will oversee the production of 40 units of its cutting-edge tabletop laboratory water purification system and advance its research and development on products and solutions designed to improve kidney dialysis efficiency and sustainability.
The company also intends to build a larger facility to expand its operations.
Homversity raises $1M in pre-Series A round
Student Housing network Homversity has raised $1 million in a pre-Series A round from Shuru-Up, IPV (Inflection Point Ventures), Value Angels, Vinners Group, TAS, Pro-Growth Ventures, Growth 91, and other marquee investors.
The company primarily plans to use the funds for establishing a premium scalable student housing operator model. It also plans to use the strategic infusion for growth initiatives, enhance the platform's reach and improve its offerings.
Founded in 2019, by Saurav Kuman Sinha, Homversity connects students with secure and convenient accommodation options. It also organises major verticals of the industry like quality of stay, good food, and a secure ecosystem for students.
Other news
Allianz Partners appoints Michael Buttstedt as Chief Financial Officer
Insurance and assistance services provider Allianz Partners has appointed Michael Buttstedt as finance chief and board member from September 1, 2024.
Michael replaces Damien Ladous, who has taken on the role of Head of Group Performance
Steering, the strategic and financial steering unit of Allianz Group.
US-based ISMG acquires majority stake in Nullcon
Information Security Media Group (ISMG), a US-headquartered company, has acquired a majority stake in Payatu Technologies, the parent company of Nullcon, a hacking and cybersecurity conference platform.
According to a statement, the funds will be used to expand Nullcon's reach through industry partnership, community involvement, and global expansion. Nullcon currently hosts annual information security conferences in Goa, India, and Germany.
Founded in 2010 by Antriksh Shah, Aseem Jakhar, and Murtuja Bharmal, Nullcon gets over 3,000 attendees and brings together over 400 companies annually. The company has registered a 20% year-on-year growth over the past three years. ISMG offers cybersecurity news, views, research, and education.
(This article will be updated with the latest news throughout the day.)
Edited by Jyoti Narayan