Startup news and updates: daily roundup (October 29, 2024)

Propelld appoints Manoj Shetty as CBO

Propelld, a fintech startup that offers educational funding, has appointed Manoj Shetty as Chief Business Officer (CBO) to achieve its business goal in the study abroad market.

With over 25 years of experience across various roles in the financial services industry, Shetty is expected to propel the business forward, particularly in the study abroad segment, which has witnessed a remarkable evolution, particularly among the Indian middle class residing in Tier II and III cities.

“Shetty’s expertise in the financial segment and study abroad market will be invaluable to Propelld as we aim to streamline and enhance our growth initiatives to achieve our fiscal objectives,” said Brijesh Samantaray, Co-founder of Propelld.

Founded in 2019 by Bibhu Prasad Das, Victor Senapaty, and Samantaray, Propelld started by offering education loan financing solutions such as study now and pay later products and income sharing agreements.

Paytm launches Diwali-themed QR code

One97 Communications Limited (OCL), the parent company of Paytm, has launched a Diwali-themed QR to celebrate the spirit of the festive season. 

The company has deployed the themed QRs across 239 cities, including Bengaluru, Mumbai, Ahmedabad, Jaipur, Goa, and Kolkata.

The festive Paytm QR is easy to set up, encouraging small businesses to adopt mobile payments during the peak shopping season.

By incorporating vibrant Diwali motifs, Paytm seeks to create a festive ambience that resonates with merchants and customers alike, making payment experiences more personal and memorable, it said in a statement.

Ayushmann Khurrana joins Birla Brainiacs as investor, brand ambassador

Bollywood star Ayushmann Khurrana has invested in Techybrid ThinkTank Pvt Ltd and has officially taken on the role of brand ambassador for its hybrid home schooling platform, Birla Brainiacs. 

Birla Brainiacs’ partnership with Khurrana comes at a pivotal moment, as families increasingly seek personalised and flexible educational solutions. Birla Brainiacs addresses this demand by providing a comprehensive curriculum that includes core academic programmes alongside a diverse range of upskilling courses such as financial literacy, coding, music, and communicative English. 

Founded by Nirvaan Birla, Birla Brainiacs aims to transform the educational landscape in India by integrating online and offline learning tailored to the evolving needs of students and parents.

Maini Group partners with SiMa.ai for autonomous mobility solutions

Maini Group has partnered with SiMa.ai, the embedded edge machine learning system-on-chip (MLSoC) company, to transform the future of autonomous mobility, beginning with the integration of SiMa.ai’s cutting-edge ONE Platform for Edge AI into Virya Mobility’s autonomous transport solutions.

Virya Autonomous Technologies, a Maini Group Company, is developing AI-driven autonomous systems from the ground up, focusing on delivering intelligent, safe, and efficient mobility solutions. 

SiMa.ai is set to play a pivotal role in this transformation, providing edge-AI platforms that will power multiple aspects of autonomous operations and advance the next generation of mobility.

The partnership is expected to deliver significant benefits in terms of improved performance, lower power consumption, and reduced total cost of ownership (TCO), providing cost-effective solutions for applications involving autonomous mobile robots (AMRs). 

Lodha Group owners give shareholding in Macrotech to philanthropy foundation

The owners of one of India’s largest real estate companies Lodha Group, Abhishek Lodha and family have announced that they will be transferring a significant part of their shareholding in the listed company, Macrotech Developers Ltd., to Lodha Philanthropy Foundation (LPF).

LPF is a non-profit organisation that uses all its income and assets solely for national and social upliftment causes. LPF will have an initial corpus of ~Rs 20,000 crores ($2.5 billion).

LPF has 4 key focus areas: women, children, environment, and Indian culture.

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