Startup news and updates: Daily roundup (Jan 17, 2024)

From Zepto tripling its annualised gross order value (GOV) to $3 billion (Rs 24,500 crore) in just eight months, to Software-as-a-Service (SaaS) startup Netradyne securing $90 million in Series D funding, YourStory brings today’s headlines that highlight significant developments across industries.

Featured news:

Making roads safer: Dacio banks on AI-powered dash cams to prevent accidents

Bengaluru-headquartered Dacio.ai is trying to make Indian roads safer. The company sells AI-powered dash cams with multi-channel cameras, allowing drivers and fleet operators access to key data on driving behaviour and driving tendencies.

The startup, which was part of YourStory’s Tech30 2024 list, provides a preventative incident road safety product, that alerts the driver before an incident happens and also pushes a video playback of the incident to the fleet operator, which is the key for cracking numerous insuranceand theft cases.

As a B2B startup, it works with companies across sectors, including OEM Olectra, Dipper Schools, and Professional Couriers, already covering sectors like logistics, manufacturing and education. Its primary solution covers fleet operators, which may be distributed across sectors.

Latest news:

Zepto triples annualised GOV to $3B in eight months ahead of IPO

Quick commerce unicorn Zepto has tripled its annualised gross order value (GOV) to $3 billion (Rs~24,500 crore) within just eight months, the company has announced.

This is a significant jump from the $1 billion milestone in annualised GOV it reached in April last year, according to a Goldman Sachs research note.

Zepto's revenue for FY24 increased by two-fold to Rs 4,454 crore, from Rs 2,025 crore earned in the previous fiscal year.

SaaS provider Netradyne secures $90M in Series D funding to expand footprint

Software-as-a-service (SaaS) startup Netradyne has raised $90 million in a Series D funding round led by Point72 Private Investments, along with participation from Qualcomm Ventures and Pavilion Capital.

The US- and Bengaluru-based startup plans to use the fresh funds to expand its global footprint, enhance its go-to-market investments, and accelerate strategic investments in R&D.

Netradyne utilises artificial intelligence and edge computing to deliver safety solutions for drivers and fleets. Its clientele spans various industries, including food and beverage, oil and gas, transportation, utilities, field services, and passenger transit.

Funding

Food brand KisaanSay secures $2M to strengthen farm-to-fork model

KisaanSay, a cross-category direct-from-origin food brand, has closed a $2 million pre-seed funding round led by Jungle Ventures through First Cheque@Jungle, its platform for partnering with second time-founders and seasoned operators at the idea, pre-seed, and Seed stages. The round also saw participation from senior leaders in the food industry. 

Founded by Nitin Puri, Manoj Karki, and Vaishali Mehta, KisaanSay was created to bridge the gap between farmers and consumers by placing provenance at the core of its mission. The brand partners with farmer collectives in natural farming clusters across mountain valleys, forests, tribal areas, and drylands, ensuring each product is grown, minimally processed, and packaged at its origin. This guarantees better incomes and sustainable livelihoods for farmers while delivering healthier, tastier food options to consumers.

With a portfolio of over 80 products spanning 12 categories, KisaanSay operates through a unique co-brand and co-profit partnership model with 20 farmer collectives representing more than 50,000 farmers. Its omnichannel distribution spans leading e-commerce platforms, its own direct-to-consumer channel, and retail stores in Delhi NCR. 

Constelli secures $3M in Pre Series A funding led by Pravega Ventures

Constelli, a startup leading the digital transformation of design, development and test processes in Aerospace and defense sector, today announced that it has raised $3 million in pre-series A funding led by Pravega Ventures. The funding will be used for capital expenditure and research & development (R&D) for future products in the pipeline impacting innovation in the defense sector.

Constelli was founded in 2017 by Satya Gopal Panigrahi and Avinash Chenreddy. The company's mission is to enhance technical sophistication and expedite the development lifecycle of critical payloads for airborne & ground defense platforms. Constelli’s products and services are used globally by customers developing Radar and Electronic Warfare Systems.

Other news

Wondrlab acquires BigStep Technologies, strengthening AI Tech Edge

Wondrlab, India’s platform-first martech network, has announced the acquisition of a majority stake in BigStep Technologies, an expert in Generative AI and Cloud-Native Custom Software Solutions. This is Wondrlab’s seventh acquisition to date and its second in the technology domain, which will contribute to the network’s capabilities in advanced AI for scalable, high-impact cloud-native custom software and commerce solutions.

Incorporated by founders Vidit Paliwal and Niranjan Mangal in 2008, BigStep Technologies has delivered 700+ apps & solutions to over 500 clients worldwide.

It has built a reputation for providing innovative enterprise solutions tailored to meet the needs of modern businesses across industries. BigStep Technologies’ expertise spans Product Engineering, Data & AI, Cloud & DevOps and Robotic Process Automation (RPA). Some of their key projects include curating innovative solutions for Media and Entertainment, PropTech, SaaS Products, Healthcare, Gaming and BFSI, enhancing efficiency, engagement, and customer growth.

Equirus welcomes Ronak Modi as Director, Head of Strategy and Finance

Equirus has appointed Ronak Modi as Director, Head of Strategy and Finance. Ronak brings over 13 years of rich and diverse experience across leading organizations, including Ananta Capital, Zomato Ltd, Jindal Poly Films Ltd, Bajaj Consumer Care Limited, and Jindal Steel & Power Ltd. 

In his new role, Ronak will spearhead strategic initiatives and financial planning, working closely with the leadership team to drive growth and innovation.  

A Chartered Accountant by qualification, Ronak further honed his expertise by completing an Executive MBA from the prestigious Indian School of Business (ISB). His extensive background and dynamic leadership approach make him a valuable addition to the Equirus team. 

Ronak’s appointment underscores Equirus’ commitment to strengthening its leadership team and advancing its mission to create long-term value for clients and partners. 

Qualcomm enters strategic collaboration with MapmyIndia to accelerate ‘Make in India’ solutions for automotive

Qualcomm Technologies, Inc., a wireless technology company, and MapmyIndia, an advanced digital maps and deep-tech company, today announced a technology collaboration aimed at supporting the ‘Make in India’ initiative for the automotive sector.

Combining Qualcomm Technologies’ Snapdragon Digital Chassis solutions with MapmyIndia’s expertise, the companies will deliver cutting-edge automotive connectivity solutions and connected services for the four-wheel (4W) and two-wheeler (2W) segments domestically and for global automakers.

As part of the companies’ work, MapmyIndia will use Qualcomm Technologies’ Snapdragon Auto Connectivity Platform to develop telematics solutions tailored to the needs of Indian automakers. MapmyIndia solutions will enable OEMs to offer high-quality yet affordable connectivity in mid-tier and low-tier vehicles, prioritizing safety and convenience for the mass market.

Also Read

Startup news and updates: Daily roundup (January 15, 2025)

Pulse Energy launches affordable UPI-enabled Paybox for EV Chargers with Fastag Compatibility

Pulse Energy has launched a groundbreaking app-less solution for starting EV chargers, simplifying the charging process for users across the globe. The newly introduced 'Paybox' terminals will allow Charge Point Operators to easily implement the technology at their stations, catering to 2W, 3W, and 4W vehicles. The Paybox will initially be deployed with operators in Bangalore and Mumbai, before expanding nationwide.

Customers can simply walk up to these terminals, scan or swipe or insert their cards to approve a transaction. Once it’s approved with the payment, they can go to the charger and just plug the cable in to start charging. During this entire time, the terminal will keep the user updated on the status either via Whatsapp or via the Charging Operators mobile application.

Samsung partners with Eka Care to introduce personal Health Records feature on Samsung Health App in India

Consumer electronics brand Samsung has partnered with Eka Care, a health tech company to introduce the “Health Records” feature to the Samsung Health app to help users manage their health more comprehensively.

The Health Records feature enables users to create and access their Ayushman Bharat Health Account (ABHA) directly through the Samsung Health Mobile App. Users can now effortlessly manage their health data generated by healthcare providers across India, transforming the way individuals take charge of their personal health records.

Samsung’s new initiative to empower its users by providing seamless and secure integration with the country’s digital health ecosystem is aligned with the Indian government’s Ayushman Bharat Digital Mission (ABDM) project.

Clinikally expands into nutrition category to provide holistic wellness

Clinikally - an e-pharmacy and digital dermatology platform for skin care and hair care has recently expanded its offerings by launching a new category of Nutrition. The offering focuses on providing high-quality nutritional supplements to support overall health and wellness. 

With the new offering, Clinikally recognises this integral link between nutrition and skin health and introduced comprehensive solutions that address both external skincare and internal nutritional needs. The holistic approach aims to enhance its consumers’ overall well-being by providing products that support health from the inside out.

Clinikally offers a variety of supplements including skin, hair and health supplements. Additionally, it provides supplements for joints and body, protein and mind and wellness. Additionally, it features reputable brands known for their quality and efficacy including Nutrova and Wellbeing Nutrition.

Avaana Capital inks MoU With DPIIT to fortify manufacturing and deep-tech startups

In a bid to boost India’s manufacturing and deep-tech startup ecosystem, Avaana Capital, the country’s ’s first institutional climate-focused venture capital fund investing in the formative startups, have signed a Memorandum of Understanding (MoU) with the Department for Promotion of Industry and Internal Trade(DPIIT).

Highlighting the transformative potential of the said partnership,  Sanjiv, Joint Secretary, DPIIT, mentioned that this collaboration marks a significant step in strengthening support for manufacturing and deep-tech startups in India.

Pointing out further Mr. Sanjiv said by leveraging Avaana’s expertise in climate-focused innovation and strategic mentorship programs, DPIIT aims to enable startups to accelerate their growth while driving sustainability and global competitiveness. He further said that this strategic collaboration aligns with our vision to put in place a robust ecosystem where innovation thrives thus helping India to lead in the transition to low-carbon, technology-driven manufacturing solutions.

NSDC International acquires 10% stake in startup stairs

NSDC International Ltd. (NSDC International), a wholly owned subsidiary of National Skill Development Corporation (NSDC), has acquired a 10% equity stake in Startup Stairs Pvt. Ltd., an initiative of AVPL International promoters.

This strategic investment underscores NSDC International's commitment to fostering innovation and entrepreneurship, particularly among rural startups in emerging sectors such as drones, electric vehicles (EVs), artificial intelligence (AI), and robotics.

Startup Stairs aims to drive AVPL International's success by incubating drone entrepreneurs and providing them with expertise, resources, and funding in exchange for equity. The proprietary platform, Drone Planet, will facilitate startup hackathons every 3-6 months, allowing participants access to expert mentorship and robust networks.

Noise Launches Tag 1

Noise, a connected lifestyle brand, has launched what it calls India’s first universal smart tag compatible with both Android and iOS, Noise Tag 1.

The Noise Tag 1 brings versatility to users’ everyday life seamlessly with smartphones, leveraging Google Fast Pair technology and Find My Device Network for Android devices (Android 9 and above) and Apple’s Find My Network for iOS users, according to a statement.

Singularity Strengthens Leadership Team

Singularity, a leading provider of capital and differentiated market access for growth assets, has bolstered its leadership team with the appointments of Avnish Anand as Partner for leading Investments in Consumer and Mr. Ajay Kumar as Senior Advisor.

These appointments reflect Singularity’s commitment to fostering growth and innovation across key sectors, further solidifying its position as a trusted partner for growth-stage founders, according to a statement. 

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