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Startup News
Economic Times
2w
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Image Credit: Economic Times
Travel fintech startup Scapia raises $40 million from Peak XV, existing investors
- Travel fintech startup Scapia raises $40 million from Peak XV, existing investors.
- The funding round was led by Peak XV Partners with participation from Elevation Capital, Z47, and 3State Capital.
- Scapia plans to use the funds to invest in brand building, develop new services for young travellers, and expand the team by 50%.
- Scapia aims to expand its user base by four to five times in the next year.
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Siliconcanals
2w
126
Image Credit: Siliconcanals
Europe’s largest women-led VC Revaia closes second fund at €250M; reaches €600M AUM
- Paris-based Revaia, Europe’s largest all-women-led VC, closes second fund, Revaia Growth II, at €250M.
- Revaia's total assets under management now stand at €600M.
- Nine new partners, including BNP Paribas Cardif and JP Morgan Chase, joined Revaia's investor base.
- Revaia Growth II has made six investments in key sectors and its portfolio companies have made 17 acquisitions.
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Yourstory
2w
425
Image Credit: Yourstory
Scapia secures $40M in Series B round led by Peak XV Partners
- Travel-focused fintech Scapia has raised $40 million in a Series B funding round led by Peak XV Partners.
- The funding will be used to accelerate product development, enhance AI capabilities, and expand the team.
- Scapia's co-branded card offers several benefits, including no joining and annual fees, 10% rewards on transactions, and access to unlimited domestic lounges.
- The travel fintech space in India presents a significant opportunity, and Scapia is well-positioned to capture a share of the growing segment.
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Gritdaily
2w
178
Image Credit: Gritdaily
The Digital Wallet Revolution: A New Era in Financial Management
- Digital wallets have transformed financial management by offering convenient and secure ways to store and transfer funds, reducing reliance on cash and physical cards.
- They provide quick payments, secure storage, and additional financial tools, aiding in various sectors' adoption of efficient digital transactions.
- Global digital wallet adoption is expected to grow by 18% annually, marking its increasing significance in modern financial practices.
- A digital wallet is a software tool enabling secure money storage, transfer, and diverse financial asset management via mobile or online platforms.
- Different wallets cater to different needs, with features like multi-layer encryption, multi-currency support, and investment options.
- Factors to consider when choosing a digital wallet include security, ease of use, multi-currency support, transaction speed, investment options, and financial tracking tools.
- Digital wallets streamline payment processes for businesses, facilitate contactless payments through NFC technology, and blur the lines between traditional card transactions and cryptocurrencies.
- They play a vital role in modern financial management, offering enhanced security, accessibility, and efficiency as more people embrace their usage.
- Using multiple wallets for different financial objectives aids in better organization and risk management, enabling users to segregate funds for specific needs.
- It is essential to understand the risks associated with cryptocurrency trading and use, as the market is volatile, assets are not government-backed, and legal protections may vary by jurisdiction.
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Startup Pedia
2w
404
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'India Is Outpacing The World': OpenAI Founder Sam Altman Praises India For Quick AI Adoption
- OpenAI founder Sam Altman praised India for its AI adoption, stating that India is outpacing the world in terms of AI creativity.
- India's billion-plus population and increasing smartphone penetration make it a goldmine for tech companies seeking a large and engaged user base.
- A recent Deloitte report revealed that India is leading in Agentic AI adoption, with over 80% of businesses actively exploring the development of autonomous agents.
- This indicates a significant shift towards Agentic AI in India.
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AllTopStartups
2w
8
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Your Guide to Optimising Everyday Business Expenses
- Startups need to optimize everyday business expenses to ensure long-term success and financial stability.
- Review and refine operational costs by considering remote work options, auditing subscriptions, and negotiating better rates with vendors.
- Cut down on unnecessary expenses by opting for cost-effective office supplies and equipment, such as energy-efficient printers and second-hand furniture.
- Focus on cost-effective marketing strategies, such as organic digital marketing, collaborations, and automation, to reach the target audience without overspending.
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Medium
2w
147
Image Credit: Medium
Runway Gen-4: A New Era in AI Video Creation
- Runway's Gen-4 is an advanced AI video generation model that ensures consistency in characters and scenes.
- The model provides high-quality and realistic simulations, allowing the incorporation of real objects in digital environments.
- Applications of Runway Gen-4 include filmmaking, marketing, advertising, and education.
- Experts believe that this technology enhances creativity rather than replacing it, expanding the horizons of imagination.
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Yourstory
2w
417
Image Credit: Yourstory
Mamaearth parent Honasa Consumer grants ESOPs worth Rs 57 Cr
- Honasa Consumer, the parent company of Mamaearth, has granted 24.16 lakh stock options worth Rs 57 crore.
- The vesting of the options is expected to happen over a period of 5 years based on tenure and company performance.
- Honasa Consumer's revenue from operations grew to Rs 517.5 crore in Q3 FY25, marking a 5.9% YoY increase.
- Eternal and Delhivery are among other companies that have recently granted stock options under their ESOP schemes.
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Yourstory
2w
134
Image Credit: Yourstory
US President Trump imposes 27% reciprocal tariff on Indian imports
- The US has announced 27 per cent reciprocal tariffs on India, citing high import duties imposed by India on American goods.
- The move aims to reduce the US trade deficit and boost manufacturing, impacting India's exports to the United States.
- Experts suggest India is relatively better-placed compared to its competitors facing increased levies.
- India is currently negotiating a trade agreement with the US and aims to conclude the first phase by fall this year.
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Yourstory
2w
343
Image Credit: Yourstory
Sweet Karam Coffee bags $8M from Peak XV Partners
- South Indian food brand Sweet Karam Coffee has raised $8 million in a Series A funding round led by Peak XV Partners.
- The company plans to use the funds for omnichannel expansion, new product development, and strengthening the supply chain and brand presence.
- Founded in 2015, Sweet Karam Coffee offers a range of South Indian sweets, snacks, and in-house filter coffee blends.
- The brand has grown 4X in revenue over the last 12 months and has a target of further growth in the next 12 months.
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Inc42
2w
1.9k
Image Credit: Inc42
Pratilipi Bags $20 Mn Funding To Introduce Vertical Drama, Expand US Presence
- Indian self-publishing platform Pratilipi has raised $20m in a Series E funding round.
- The funds will be used to develop new storytelling formats, such as animation and vertical drama shows, as well as to expand the company's presence in the US market.
- Pratilipi plans to cater to both the Indian diaspora and the native population of the US, targeting a more mature audience compared to competitors like Wattpad.
- The company is also considering a potential IPO in early 2023 and has already held talks with bankers.
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Yourstory
2w
2.2k
Image Credit: Yourstory
We need to build our own AI solutions: Shailesh Davey, CEO, Zoho Corp
- Zoho Corp is making strides in AI development with two foundational models set to launch before year-end, under the leadership of CEO Shailesh Davey.
- With a focus on AI-driven automation and right-sized solutions, Zoho is embracing change and investing in AI agents for the future.
- The company is venturing into AI infrastructure, investing around $20 million over two years, emphasizing the need to build expertise strategically.
- Zoho aims to build indigenous foundational models to address the evolving AI landscape in India, focusing on efficiency and resource constraints.
- Shailesh Davey highlights Zoho's approach in training Language Models (LLMs) in resource-constrained environments for effective problem-solving.
- AI is playing a significant role in ManageEngine's growth, particularly in IT security, where AI excels at identifying anomalies and enhancing security measures.
- Zoho's adaptability to industry shifts and willingness to embrace change sets it apart, highlighting the importance of evolving offerings in the era of AI.
- Davey emphasizes the need for companies to build their own AI solutions, tailoring them to specific contexts and capabilities, rather than solely relying on large-scale models.
- Zoho's innovative projects include right-sizing AI models, focusing on customer use cases, and training LLMs in environments with limited data availability.
- The company's investment in AI infrastructure is not just about budget but also about enhancing understanding and expertise in the AI domain for future growth and innovation.
- Shailesh Davey's leadership at Zoho involves observing, learning, and adapting to the rapidly evolving AI landscape, emphasizing the importance of distributed responsibilities for effective AI initiatives.
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Inc42
2w
2k
Image Credit: Inc42
Inside MakeMyTrip’s GenAI Play — How The Travel Giant Has Revamped Itself For The AI Age
- MakeMyTrip has launched a GenAI-powered feature, Collections, to enhance hotel and homestay discovery using AI and deep traveller insights.
- The travel giant has focused on personalizing user experience amidst the GenAI trend, relearning strategies with AI over a decade of experience.
- MakeMyTrip's Group CTO, Sanjay Mohan, highlights the challenge of AI talent shortage but mentions continual team training to stay ahead.
- The company's adoption of GenAI began two years ago, leveraging off-the-shelf language models for analysis, synthesis, and translation.
- AI was first utilized for personalization, creating features like zero cancellation fee and price lock to enhance user experience.
- The use of GenAI models extended to email communication, content synthesis, and multilingual interactions for flight bookings.
- MakeMyTrip has streamlined processes using AI for internal monitoring, setting thresholds, and automating alerts based on business metrics.
- Training datasets costs have significantly reduced over the years with GenAI adoption and enhanced data pipeline efficiency.
- MakeMyTrip tackled AI talent shortage through upskilling existing staff and hiring new talent for specific business lines.
- The company's AI models and data are crucial competitive assets, ensuring data safety with anonymisation and strict data protection measures.
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19 Likes
Inc42
2w
112
Image Credit: Inc42
TurboHire Cofounder Aman Gour’s Startup FurtherAI Bags $5 Mn
- FurtherAI, the artificial intelligence (AI) venture founded by TurboHire cofounder Aman Gour, has raised $5 Mn in a seed funding round led by Nexus Venture Partners.
- The funding round also included participation from other investors such as Pioneer AI Fund, South Park Commons, Y Combinator, Converge VC, Xceedance, and angel investors.
- The funds will be used to expand FurtherAI's operations in the UK, bolster its tech team, drive strategic industry engagement, and enhance its product capabilities.
- FurtherAI's AI autonomous agents aid insurance companies in automating workflows, improving risk assessment, and streamlining critical tasks like policy comparison, underwriting audits, and more.
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Mit
2w
230
Image Credit: Mit
Vana is letting users own a piece of the AI models trained on their data
- In February 2024, Reddit made a $60 million deal with Google, allowing the search giant to use data from the platform to train AI models without involving Reddit users in the discussions.
- Vana, a decentralized platform originating from MIT, aims to empower users by granting them ownership over their data and its utilization in training AI models.
- Users on Vana can upload and control the usage of their data, contributing to the training of AI models and receiving proportional ownership in return.
- By leveraging a little-known law enabling data export from major tech platforms, Vana allows users to store their data in encrypted wallets and distribute it for model training.
- Vana's approach involves creating data DAOs, decentralized autonomous organizations, to pool and utilize data while maintaining user privacy and ownership of the resulting models.
- Through collaborations and user-contributed data from platforms like Reddit and X, Vana has facilitated the development of diverse AI applications and personalized models.
- The platform has attracted over 1 million users, established more than 20 live data DAOs, and has potential for various applications in personalized medicine and consumer services.
- Vana's user-owned data pools address the challenge of data monopolies held by tech giants, allowing for the collective creation of valuable datasets for AI advancements.
- By granting users control over AI models and encouraging collaboration, Vana aims to democratize AI technology and ensure shared benefits from technological advancements.
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