Startup news and updates: Daily roundup (October 11, 2024)

Funding

Humm Care raises seed funding to enhance product offerings

Humm Care, a technology-enabled healthcare startup, has raised seed funding at a $5 million valuation from reputable investors.

The strategic investment will enable it to scale its innovative services, enhance its product offerings, and expand its reach within India and beyond, providing employee healthcare benefits and specialised care programmes.

Humm Care, founded in 2020 by Carina Kohli, offers employee healthcare benefits and specialised programs to large corporates, MNCs, and startups in India. Its data-driven approach and guidance help organisations provide tailored solutions.

It collaborates with major organisations in retail, logistics, finance, and IT, including Fortune 500 companies, MNCs, big tech, construction, MSMEs, and startups.

Other news

Bharat Drone Association partners with APDC for Amaravati Drone Summit 2024

The Bharat Drone Association, a drone industry body with over 400 members, has collaborated with Andhra Pradesh Drones Corporation (APDC) as a technology partner for the upcoming Amaravati Drone Summit 2024, scheduled for October 22-23, 2024 in Amaravati, Andhra Pradesh.

The event will feature drone manufacturers, service providers, RPTOs, industry experts, and AI and ML startups.

The Amaravati Drone Summit 2024, organised by APDC under the Andhra Pradesh government’s Infrastructure and Investment Department, is a national-level event aimed at positioning Andhra Pradesh as a hub for drone system design, manufacturing, and drone-enabled technology services.

The summit, involving government officials, tech innovators, and industry leaders, will discuss drone technology advancements, industry trends, and collaboration opportunities to drive innovation in the drone sector.

IAC urges PM to endorse Auto LPG as a "Net Zero Hero"

The Indian Auto LPG Coalition (IAC) has urged Prime Minister Narendra Modi to support Auto LPG as a clean, eco-friendly alternative fuel and ensure fair treatment in comparison to traditional fuels.

Suyash Gupta, IAC’s Director General, highlighted the environmental and economic benefits of Auto LPG, noting its ability to significantly reduce emissions of pollutants like particulate matter, nitrogen oxides, and carbon dioxide.

This makes it a key contributor to improving air quality and lowering the carbon footprint, aligning with India's global environmental commitments and sustainable development goals, positioning Auto LPG as a "Net Zero Hero," he said.

The Indian Auto LPG Coalition (IAC), a key body promoting Auto LPG in India, advocates for cleaner fuel alternatives and engages with policymakers to align Auto LPG with the nation’s sustainable development goals. The coalition comprises members from oil sector PSUs, private Auto LPG marketers, kit suppliers, and equipment manufacturers, and works closely with the World LPG Association and the Society of Indian Automobile Manufacturers. It is also a member of key regulatory bodies such as the CMVR-TSC, SCOE, and TED26 (Bureau of Indian Standards).

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Groww facilitates 4.7M new SIPs in Q3 2024

Groww, a mutual funds investing platform, added over 4.7 million new Systematic Investment Plans (SIPs) in the July-September quarter of 2024, contributing 1.6 million of the 6.6 million new SIPs recorded by the Association of Mutual Funds in India (AMFI) in September alone.

Groww experienced a 2X increase in new SIPs this quarter compared to last year, accounting for 50% of the total industry SIPs. This growth was driven by younger investors, with over 50% of contributors under 35, and a positive shift in women's financial engagement.

SIPs accounted for 86% of the mutual fund investment volume with an average customer value of over Rs 6,000, indicating a growing commitment to long-term investing through SIPs.

Nearly 80% of platform transactions come from non-metro cities, indicating a surge in interest in systematic investment plans among smaller towns. Maharashtra, Uttar Pradesh, West Bengal, Bihar, and Rajasthan are the top five states contributing the most SIPs from B30 cities.

FNP launches rapid 30-Minute delivery in major urban centers

FNP (Ferns N Petals), a gifting platform, has launched a 30-minute delivery service across 36 cities nationwide.

The service is now available in major urban centers like Delhi NCR, Mumbai, Bangalore, Chandigarh, Chennai, Pune, Ahmedabad, Ludhiana, Kanpur, Jaipur, and Hyderabad, as well as key cities like Pune, Ahmedabad, Ludhiana, Kanpur, Jaipur, and Hyderabad.

It utilises AI and real-time logistics optimisation technology for fast delivery services, enhancing route efficiency, improving predictive order management, and ensuring flawless last-mile execution, delivering not just gifts but also moments of happiness to customers.

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

(The article was updated to correct factual errors in Humm Care funding.)