Startup news and updates: Daily roundup (December 18, 2024)

Funding

KiranaPro secures pre-seed funding

KiranaPro has secured undisclosed pre-seed funding to transform local kirana stores and supermarkets into hyper-efficient dark stores for 10-minute deliveries.

The round saw participation from angel investors Yatish Talvadia (MilkBasket) and Vikas Taneja (Boston Consulting Group), alongside venture firms TurboStart, Unpopular Ventures, Blume Founders Fund, and Snow Leopard Ventures.

The capital will be used to scale KiranaPro’s teams, enhance its ONDC-enabled technology, and launch its consumer app, supporting rapid expansion into new cities.

KiranaPro empowers local kirana stores and supermarkets with technology, enabling 10-minute deliveries and offering flexible revenue models to stay competitive in the fast-paced retail landscape.

Quanfluence raises $2M in seed funding to scale photonic quantum solutions

Quanfluence, a photonics-based quantum and quantum-inspired solutions, has raised $2 million in seed funding led by pi Ventures, with participation from Golden Sparrow, Reena Dayal, and others. Reena Dayal is also the Founder and CEO of the Quantum Ecosystems and Technology Council of India (QETCI).

The funds will be used to scale and market its near-term products, demonstrating the practical applications of its ising machine, while also advancing research and development for its flagship quantum computer.

Founded in 2021 and incubated at IITM, Quanfluence is a Bengaluru-based photonic quantum technology startup. Co-founded by Sujoy Chakravarty, Ravi Mehta, Biman Chattopadhyay, Prof. Anil Prabhakar, Aditi Vaidya, and Prof. Sandeep Goyal, Quanfluence offers a hardware-based optimisation solution that enhances AI-driven decision-making.

It aims to develop a fault-tolerant, general-purpose quantum computer within five to six years, with a multidisciplinary team advancing India’s leadership in global quantum innovation.

Other news

IDS 2025 to feature 100-stall exhibition and cutting-edge digital innovations

The 19th India Digital Summit (IDS) 2025, India’s largest and oldest digital conference, will bring together over 15,000 delegates, including policymakers, industry leaders, and professionals, to discuss the challenges and prospects across all digital sectors.

With over 300 sessions across 17 tracks, the summit will cover key areas such as advertising, AI, banking, D2C and logistics, data security, ecommerce, education, tech for health, rural, sports, and travel.

The event will feature a 100-stall exhibition showcasing innovations from 50 leading digital brands and include roundtables, workshops, and hackathons. Special focus will be on startups, with dedicated spaces like ‘Startup Street’ and ‘Startup Pitching Sessions’ for emerging companies to pitch ideas to VCs and experts.

Athera Venture Partners secures major investment from HDFC AMC for Rs 900 Cr Fund I

Athera Venture Partners, formerly Inventus India, has secured investment from HDFC AMC's Select AIF FoF I Scheme for its Fund IV, which is set to close in 2025.

HDFC's Fund of Funds will be a dominant LP in Athera's Rs 900 crore fund, aimed at investing in fast-growing tech startups in sectors like consumer internet, enterprise software, AI, and other emerging technologies.

Athera has already invested in promising startups like Ati Motors (autonomous robotics), Terra (3D immersive gaming), ClickPost (logistics management software), Cyn:Lr (computer vision for robotics), Hyperbots (AI automation), and Billion Hearts (digital consumer products).

With these six investments, 30% of its portfolio is built, and the fund is already in positive IRR territory. Over the next 18-24 months, Athera plans to invest in a dozen more startups from its Fund IV.

Glance, upGrad collaborate to empower youth with job-ready skills

Glance, the smart lock screen platform, has partnered with upGrad, an integrated learning and workforce development company, to offer critical upskilling opportunities for millions of young Indians.

Through this collaboration, upGrad is providing free courses via its Intern-Zip programme on Glance's Smart Lock Screen.

This initiative is part of the "Glance for Good" programme, which harnesses the power of Glance Smart Lock Screens to promote personal growth and drive positive social change.

upGrad’s Intern-Zip programme, aimed at providing job-ready skills to youth aged 20-24, has partnered with Glance, which reaches over 235 million daily users, 47% of whom are under 24. This makes Glance an ideal platform for upGrad to connect with its target audience. Within three weeks of launching, upGrad’s content has garnered over 100 million views on Glance's lock screens.

Zing launches in Gurugram with fresh meals in 10 minutes

Zing, a 10-minute food delivery app, has launched in Gurugram, aiming to revolutionise urban convenience.

Founded by Tarun Arora and Rachit Sahi, Zing is a fast-food chain that offers high-demand meals in hyper-local kitchens.

It uses cloud kitchens to prepare meals near customers, reducing transit times. The menu features a curated selection of quick-to-prepare dishes, catering to urban tastes.

The app uses AI-driven demand forecasting and real-time delivery tracking to enhance operational efficiency and user experience.

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