Startup news and updates: Daily roundup (December 3, 2024)

Funding

Agrileaf bags Rs 16 Cr in growth funding led by Capital-A, Samarsh Capital

Agrileaf, a manufacturer and exporter of biodegradable dinnerware, has bagged Rs 16 crore in growth funding led by Capital-A and Samarsh Capital.

The round also saw participation from angel investors including Shaji Devekar, Siddharth Bafna (Co-founder of The Nutcracker), Family Office of Ved Prakash, Pritie Jain of Bling Mushrooms, Sumeet Bhalotia, Director at Vario Lounge, Dhruv Taneja (Founder - Matchlog), and Chiranth Patil- Beta Plus.

This investment will be used to expand Agrileaf’s operations in the US and Europe and to build a consumer-facing brand in India. It plans to expand its production capacity and enhance its biodegradable dinnerware and packaging line.

Agrileaf targets to produce up to 300,000 dinnerware products daily by the end of 2025.

“At Capital-A, manufacturing and materials innovation are key pillars of our investment philosophy. Agrileaf’s innovative use of Karnataka’s vast areca plantations has the potential to redefine sustainable tableware solutions,” said Ankit Kedia, Founder and Lead Investor at Capital-A.

GoodLives secures Rs 1.1 Cr in pre-seed funding

GoodLives, an AI-powered platform for mental health and wellness, has secured Rs 1.1 crore in pre-seed funding led by Build3, a social impact accelerator. IIM Lucknow, Rabindranath Tagore University, and industry veterans Anupreet Singh, Deepak Motwani, and Abhishek Hota participated in the round.

The money infusion will be strategically used to enhance platform features and functionality. GoodLives also aims to expand its activities and enter new markets to reach a broader audience.

Founded by IIT Kharagpur alumni Sakshi Shah and Lawrance Bamania, the platform bridges the gap between professional therapy and everyday well-being through a blend of AI-powered DIY exercises and expert-led interventions.

Through its programmes, GoodLives claims to have raised awareness of mental health issues among more than 5 million people. 

Bumboo raises undisclosed angel funding

Imaga Trade and Craft, operating under the brand name Bumboo, has raised undisclosed angel funding from industry leaders like Rohan Bhargava (Co-founder, CashKaro), Saurabh Gupta (CEO and Co-founder, UrbanPiper), Shashank Bijapur (Founder, SpotDraft), Rajneil Kamath (Former Google, NC Media), Harikrishnan M (DMart), Sridhar V (Microsoft), and Rajat Bhargava (Think Wealth). 

The fresh capital will fuel Bumboo’s expansion in Indian and global markets. 

Founded in 2019 by Anirudh Balakrishnan, Rohit Keshan, and Praveen Kumar, Bumboo tackles the $450 billion single-use waste opportunity by transforming agricultural waste like sugarcane bagasse and wheat straw into sustainable packaging solutions.

The company claims to serve over 3,500 businesses including names like Zomato, Swiggy, ITC, Blue Tokai, Curefoods, Chaayos, and Barbeque Nation. It operates across India with products shipped to 200 cities.

“The sustainable packaging industry is at an inflection point, and Bumboo stands out with its innovative approach to converting agricultural waste into practical solutions, effectively solving both packaging and pollution challenges. What impressed me most is their ability to scale sustainably while maintaining strong unit economics,” said CashKaro’s Bhargava.

Other news

MATH, Google for Startups partner to host AI Academy India Bootcamp

MATH (Machine Learning and Artificial Intelligence Technology Hub), a hub for AI and ML technologies and a collaborative effort between the Department of Science and Technology, has partnered with Google for Startups to host the AI Academy India Bootcamp in Hyderabad. 

This three-day bootcamp will take place from December 4 to 6 and aims to empower early-stage startups leveraging AI to address critical challenges in healthcare, agriculture, climate, education, financial inclusion, cybersecurity, and public infrastructure. 

The initiative will provide startups with the tools, knowledge, and mentorship needed to scale and create human-centred AI solutions.

The bootcamp is part of the Google for Startups AI Academy India programme, which seeks to equip 10,000 startups across the country with essential resources such as cloud and marketing credits, expert mentorship, and networking opportunities.

MATH will act as a knowledge partner, delivering resources and guidance to participating startups, while collaborating with Google to identify and onboard promising AI-focused startups for the bootcamp. Additionally, MATH will provide mentorship and support to startups exploring future pipeline opportunities.

Zypp Electric surpasses 20.5M zero-emission deliveries in a year

EV-as-a-service platform Zypp Electric has reached a key milestone in its sustainable logistics journey, completing over 20.5 million zero-emission deliveries in the past year.

Zypp caters to almost 15-20% of all quick commerce orders delivered in the Delhi-NCR region.

Through strategic partnerships with quick commerce players such as Zepto, Blinkit, Big Basket Now, and Instamart, Zypp Electric claims to have reduced 2.5 million kgs of carbon emissions. 

Zypp Electric has completed approximately 10.4 million deliveries with Zepto, 7.19 million with Blinkit, 2.76 million with BBNow, and 2.15 lakh with Instamart.

Zypp Electric was founded in 2017 to drive zero-emission, sustainable last-mile logistics. Using IoT- and AI-enabled scooters with swappable batteries, Zypp delivers groceries, medicines, food, and ecommerce packages. It has over 22,000 EVs and delivery pilots.

Kiko Live enables 5 lakh kirana orders on ONDC in under 11 months

Kiko Live, a SaaS platform for digitising neighbourhood stores and enabling quick commerce, has facilitated 5 lakh orders for kirana stores on the ONDC platform in under 11 months.

The Open Network for Digital Commerce (ONDC) is an initiative by the Indian government, aimed at creating an open ecommerce network that connects shoppers, platforms, and retailers. 

Kiko Live claims to have helped over 1,000 neighbourhood stores in Delhi-NCR offer digital ordering and integrated logistics, with some processing over 100 orders daily. The platform is also onboarding stores in Bangalore for quick commerce.

Kiko Live is set to launch its Buyer App on the ONDC platform, enabling customers to order from local stores with a chat-based, AI-powered shopping experience. Initially targeting smaller and Tier II towns, the app aims to address areas where dark store-led quick commerce is impractical.

EKA Mobility appoints Sohel Merchant as Chief Innovation Officer

EKA Mobility, an electric mobility and technology company, has appointed Sohel Merchant as its chief innovation officer.

Merchant has worked in the automotive industry for more than 20 years in the areas of vehicle engineering and programme management. He holds experience in companies, including Canoo Inc., Tesla, Faraday Future Inc., and the Ford Motor Company. 

Prior to EKA, he was the Co-founder and CTO at Canoo, where he helped design and innovative electric platforms and vehicles for the commercial sector, the US Department of Defence, and NASA. At Tesla, Merchant was involved in the design of Model S and Model X vehicles.

Namma Yatri, EnAble India expand Purple Rides for PwDs to more cities

Open mobility app Namma Yatri, in partnership with EnAble India, has launched Purple Rides nationwide, offering accessible auto and cab services in Bengaluru, Chennai, Kolkata, Hyderabad, Kochi, and other cities.

Purple Rides, by Namma Yatri and EnAble India, offers auto and cab services tailored for PwDs, featuring driver training, app customisations, and assistance systems to support users with visual, hearing, and physical impairments in urban and semi-urban areas.

After its launch in Bengaluru, Purple Rides aims to aid mobility for PwDs by focusing on accessibility and empowerment. In Bengaluru, the service has completed over 2.36 lakh trips, serving 1.53 lakh users.

Stanford Seed Conclave 2024 brings together 200+ founders across South Asia

The Stanford Seed Conclave 2024, the fourth edition of this annual event, brought together over 200 Stanford Seed Transformation Programme STP graduates, creating a vibrant space for networking, learning, and collaboration. 

Industry leaders like Rohit Kapoor, CEO of Swiggy Food Marketplace, and double Olympian Aparna Popat shared their insights on entrepreneurship and leadership. Participants engaged in dynamic discussions, fostering peer learning and collaboration across sectors while exploring synergies.

The sessions included workshops on innovative strategies for scaling businesses and tackling challenges in today’s fast-paced market. Participants left with actionable insights to enhance efficiency and drive growth within their organisations.

The Stanford Seed Network includes over 370 companies in South Asia and over 1,450 globally. As of 2022, companies that have completed the STP have collectively generated $1.3 billion in revenue. They have created 60,000 jobs to date.

US Embassy announces recruitment for 20th Nexus business incubator cohort

The US Embassy in New Delhi is now accepting applications for the 20th cohort of Nexus, a business incubator at the American Center, with the nine-week training programme starting on February 2, 2025.

The Nexus cohort programme offers 15 Indian startups specialised training from Indian and American experts to refine value propositions, define target markets, gather market feedback, and set milestones for market entry. The latest cohort will also focus on AI’s impact on startups and the importance of mental health for entrepreneurs.

After the nine-week training programme, up to four companies will be invited to stay at Nexus for further support. They will have access to incubator facilities and expert guidance for up to eight months to help bring their products to market, grow customers and revenue, and secure funding for scaling operations.

Since its first cohort in 2017, Nexus has graduated 230 Indian entrepreneurs across 19 cohorts, who have collectively raised over $90 million in external funding.

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