Startup news and updates: Daily roundup (December 9, 2024)

Funding news

Eupheus Learning raises $3M in fundin

Edtech firm Eupheus Learning has secured an additional $3 million in funding from Lightrock India, a global impact investment fund. This follows its previous funding round of $10 million in September 2021.  

“Since 2021, we have acquired two companies, doubled our school footprint and increased our product portfolio. We are committed to further grow our fruitful association with Lightrock to offer seamless in class and at home learning solutions,” said Amit Kapoor, Co-founder & CEO, Eupheus Learning. 

The company plans to utilise the fresh capital to enhance its product portfolio and expand its geographical and segment reach. Currently, the company claims that around 10,000 schools across 725+ cities use the school-focused distribution platform. 

SaveSage Club Secures Rs 25M in Angel funding

SaveSage Club, an AI-powered platform focused on transforming credit card and loyalty programme management in India, has secured Rs 25 million in an angel funding round. 

The round saw participation from investors such as iSEED, Alluvium Fund, and LetsVenture Fund, along with angel investors, including Bhavesh Gupta (Paytm, ICICI Bank), Shriram Nene, Ritesh Malik, Ramneek Sehgal (Ceigall), Mayank Gupta (Z47), Rahul Mathur, Piyush Nangru (Sunstone), Utkarsh Kumar (Inc42), Amit Goel (77 Capital), among others.

Founded in April 2024 by Ashish Lath, SaveSage offers a centralised solution for tracking, managing, and optimising over 500 credit cards and 74 loyalty programs, including well-known programs such as Air India Maharaja, Singapore Airlines KrisFlyer, and Marriott Bonvoy.

Other news

Unicommerce Company Secretary Ajinkya Jain steps down

Ajinkya Jain, the Company Secretary and Key Managerial Personnel of the SaaS firm Unicommercehas stepped down from his role, effective at the close of business hours on December 6, due to personal reasons and commitments.

An alumnus of Nagpur University, Jain brings over 13 years of experience, having previously worked with organisations such as PharmEasy, Games24x7, Future Generali India Insurance, and Pantomath Capital Advisors. He joined AceVector Group, the parent company of Snapdeal and Unicommerce, in 2022.

In a filing with the BSE, company stated that it is currently in the process of filling the vacancy and will notify the stock exchanges once a new appointment is made.

Third Wave Coffee opens outlet in Mysuru

Coffee chain Third Wave Coffee has opened its first cafe in Mysuru on Devraj Urs Road. The launch event was attended by Yaduveer Krishnadatta Chamaraja Wadiyar and Rajat Luthra, CEO of Third Wave Coffee.

With this opening, the brand has expanded its footprint to eight cities across India, bringing its total store count to 117. The company aims to reach 150 stores by March 2025 and plans to enter new cities, including Chennai and Mangaluru, it said in a statement.

“Mysuru is one of the most charming cities in Southern India and we are honored to introduce our specialty brews to the people of the city. Our Cafes are spaces created with an aim to inspire and foster deep connections with our customers, and we are excited to bring the Third Wave Coffee experience to the community of Mysore,” said Rajat Luthra, CEO, Third Wave Coffee.

Hyundai Motor India Limited to Install Nearly 600 Fast Public EV Chargers

Hyundai Motor India Limited (HMIL) plans to establish around 600 public EV fast charging stations nationwide within the next seven years. The company in a statement stated that it intends to set up a network of 50 fast public charging stations by the end of December 2024, to support the growing adoption of electric vehicles.

“The EV market is expected to grow robustly by 2030. Studies conducted by HMIL have highlighted that customers are apprehensive about driving their EVs for long-distance commutes on highways due to a lack of charging infrastructure. Keeping this in mind, HMIL has taken the initiative of installing fast EV chargers on key highways, in addition to major cities. We are actively investing in infrastructure to support the expected growth in demand for electric vehicles,” said Jae Wan Ryu, Function Head – Corporate Planning, HMIL.

To date, HMIL's charging network claims to have supported 50,000 charging sessions, delivering over 7.30 lakh units of energy to more than 10,000 Hyundai and non-Hyundai EV users.

PVR INOX appoints Traptika Chauhan as Head of Agency Business & Pre-sales 

PVR INOX Limited has named Traptika Chauhan as the Head of Agency Business and Pre-Sales. In this role, she will lead the company’s efforts in strengthening agency partnerships and managing pre-sales operations, utilising her experience in media strategy and sales leadership.

Chauhan will also focus on building relationships with agencies, streamlining pre-sales processes, and driving revenue growth across PVR INOX’s media offerings. 

"I am honoured to join PVR INOX Limited at this exciting juncture. The company’s commitment to innovation and excellence in the media and entertainment space resonates deeply with me. I look forward to building meaningful agency relationships, streamlining operations, and unlocking new opportunities that will enhance value for our partners and stakeholders,” said Traptika Chauhan, Head of Agency Business & Pres-Sales, PVR INOX. 

Ninjacart Launches Program to support FoodTech and AgTech Startups

Agritech startup Ninjacart has launched Ninjacart Startup Program to supprot the growth of early-stage foodtech and agtech startups. The newly launced initiative will provide access to cutting-edge technology, venture capital partners, financial support and offer advice from business experts.

Startups will be able to present to venture capital partners such as Syngenta Group Ventures and Base Capital on Demo Day, which is scheduled for February next year.

“The Ninjacart Startup Program is designed to empower innovators who are driving systemic change in food systems. By offering our expertise, technology, and network, we aim to help startups accelerate their startup journey and propel the collective transformation of the global agriculture ecosystem,” said Kartheeswaran KK, Co-Founder and CEO, Ninjacart.

Zomato introduces “Recommendations from Friends” feature

Foodtech major Zomatohas rolled out “Recommendations from Friends” -- a new feature to enhance its customers’ food discovery experience. Rolled out nationwide last week, the feature is available in the latest version of the Zomato app, helping customers discover both restaurants and dishes through personalised recommendations from their friends.

“The new feature will allow our customers to make food choices based on their friends’ recommendations, making their discovery and ordering experience on our platform more relatable and enjoyable. Most importantly, our customers will have full control over the recommendations that they share and see from their friends, ensuring their privacy is not compromised at any point,” said Rakesh Ranjan, CEO, Food Delivery, Zomato.

Users can enable recommendations from friends by granting the Zomato app access to their contacts. They can also customise this feature by selecting whose recommendations they want to see and managing the restaurants they wish to recommend.

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