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Startup News
Economic Times
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8
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Bike taxi drivers allege harassment by auto unions over plan to protest ban; demand legal framework
- Over 100 bike taxi drivers in Karnataka allege harassment by auto unions after the ban on bike taxis.
- The Namma Bike Taxi Association demands legal recognition and a clear policy framework for bike taxis to end harassment.
- Drivers seek the right to work legally and safely, emphasizing the significant number of bike taxi rides in Karnataka.
- The association met with Karnataka Health Minister and an MLA to address the crackdown on bike taxi services.
- They have unsuccessfully sought responses from government officials including the chief minister, Congress president, and MP.
- Drivers express frustration as the ban affects their livelihoods, highlighting the need for regulation instead of a ban.
- Commuters are affected by rising auto fares post-bike taxi ban, leading to calls for public consultation and ban withdrawal.
- Auto fares have significantly increased, prompting commuters to seek alternatives due to high costs.
- The union criticizes Karnataka for not formulating rules despite recognition of bike taxis in central guidelines.
- Imran M, a driver, faces financial strain with no income, while Sathish questions the illogical discrimination against bike taxi drivers.
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ISN
4w
287
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Mamaearth parent Honasa Consumer grants 53,322 stock options to employees
- Honasa Consumer Limited, the parent company of Mamaearth, grants 53,322 stock options to employees under its ESOP-2018 plan.
- Each stock option, convertible into one equity share at Rs 10 per share, has been granted at par as per SEBI's regulations.
- The allotment is worth approximately Rs 1.6 crore based on the current market price of Rs 304.90 per share.
- The options will vest as per predefined criteria and can be exercised during employment or within 90 days post-resignation.
- No options from this grant have vested, been exercised, or lapsed yet.
- In April, the company granted 24.16 lakh stock options, and in January, 45,663 stock options.
- Yatish Bhargava was recently appointed as chief business officer after Zairus Master's exit.
- Honasa Consumer also owns brands like The Derma Co, Aqualogica, BBlunt, and Dr Sheth’s.
- The company is expanding its product range and distribution channels.
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Startup Pedia
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959
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Reliance to invest up to ₹8,000 Crore in Campa to expand beverage business over next 15 months
- Reliance Consumer Products (RCPL) plans to invest between Rs 6,000 crore and Rs 8,000 crore over the next 12-15 months to boost its beverage business, including the iconic Campa brand.
- This investment aims to add 10-12 new greenfield and co-packing plants across India to compete with beverage giants like Coca-Cola and PepsiCo.
- The investment is a combined effort of Rs 6,000-8,000 crore by Reliance and its partners.
- RCPL's beverage portfolio includes Campa Cola, Sosyo, Sun Crush juices, Spinner sports drink, and RasKik.
- RCPL is focusing on 600 million mass consumers and collaborating with neighborhood stores for distribution.
- Reliance plans to make its consumer products available nationally by March 2027, with 70% coverage by March 2026 for key categories like beverages.
- Campa has achieved a double-digit market share in its available regions, reaching over one million retail outlets through 3,200+ distributors.
- RCPL intends to explore export opportunities in select international markets while continuing its selective distribution approach.
- India's beverage market, valued at Rs 67,000 crore, is expected to grow to Rs 1.47 lakh crore by 2030 according to ICRIER.
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Inc42
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292
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Capillary Technologies FY25: SaaS Company Turns Profitable In Run Up To IPO
- SaaS company Capillary Technologies turned profitable in the run up to its IPO, reporting a profit after tax of INR 13.3 Cr in FY25 compared to a loss of INR 59.4 Cr in FY24.
- This marks Capillary's second attempt at public listing, with plans to raise funds for cloud infrastructure, R&D, and acquisitions through its IPO.
- In FY25, Capillary's operating revenue increased to INR 598.3 Cr, with the retail sector contributing the highest share followed by healthcare, BFSI, and consumer packaged goods.
- The company emphasizes the US market, aiming to acquire small to mid-sized companies in the loyalty sector to further penetrate this market.
- Capillary's revenue sources include retainer services, installation services, and campaign services, with a total income of INR 611.9 Cr in FY25.
- The company managed to reduce total expenses in FY25 to INR 533.3 Cr, with the largest expenses comprising employee benefits, software and server charges, consultancy expenses, and other miscellaneous expenses.
- North America was Capillary's biggest market, accounting for 57% of its operating revenue in FY25, while Asia-Pacific contributed 24%.
- Capillary's top customer accounted for 16.5% of its top line in FY25, showcasing long-term relationships with marquee clientele.
- The company focused on scaling enterprise-grade loyalty solutions, discontinuing certain products and businesses to align with this strategic direction.
- Capillary's FY25 performance saw a notable turnaround from losses in previous fiscal years, signaling positive growth and profitability for the SaaS company.
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Dev
4w
97
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I Built an AI Medical Chatbot That Doesn’t Just Respond—It Actually Makes Sense
- MediBot is an AI-powered medical chatbot designed to simplify healthcare conversations and provide human-like responses.
- It aims to offer understandable guidance without overwhelming users with medical jargon or inaccurate information.
- MediBot is built with RAG for accurate answers, is flexible with Ollama and LLM, and prioritizes user data privacy.
- The chatbot has contextual memory, customizable UI/API, and is open-source for better healthcare access.
- The creator built MediBot to provide reliable and purpose-driven responses in contrast to traditional chatbots.
- MediBot encourages users to seek professional medical help when necessary and serves as a sidekick for healthcare queries.
- Interested individuals in health tech, LLMs, or open-source projects can benefit from exploring MediBot.
- The chatbot aims to make healthcare information more accessible and less overwhelming for users.
- The creator invites feedback, contributions, and engagement with the open-source project MediBot.
- The project repository can be found on GitHub, and a demo is available for those interested in exploring the chatbot.
- The ultimate goal of MediBot is to introduce clarity, context, and compassion into AI-driven healthcare innovations.
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ISN
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700
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Maruti Suzuki announces winners of 9th cohort of its accelerator program
- Maruti Suzuki India has announced the winners of the 9th Cohort of its accelerator program, with six Indian and three German startups emerging victorious.
- All nine winning startups will engage in a proof of concept (PoC) with Maruti Suzuki to test and validate their solutions in real-world conditions.
- Hisashi Takeuchi, Managing Director & CEO of Maruti Suzuki India, emphasized the importance of startups in bringing fresh ideas and enhancing customer experience in the automobile manufacturing and mobility industry.
- This cohort marked the first global participation, with 19 Indian and 7 German startups presenting innovative AI-powered solutions.
- The solutions presented focused on various domains like cybersecurity, road safety, quality control, EV charging infrastructure, and battery swapping.
- Maruti Suzuki has established multiple innovation programs to support startups in developing solutions, engaging over 5,000 startups and onboarding 25 as partners.
- The Maruti Suzuki Accelerator program, launched in January 2019, promotes open innovation in the automobile and mobility sector by collaborating with startups.
- In August 2020, the Maruti Suzuki Incubation Program was initiated to nurture technology-enabled startups shaping the future of mobility.
- The Mobility Challenge, launched in June 2021, aims to explore new-age technologies and assist growth-stage startups in showcasing innovative solutions in the mobility space.
- The Nurture program, started in 2023, serves as a Pre-Incubation Program for early-stage startups.
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Hackernoon
4w
288
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Meet C-Innovation, nPloy, and Akula Tech: HackerNoon Startups of The Week
- HackerNoon Startups of the Week features top nominees and winners of Startups of the Year 2024.
- This week’s spotlight is on C-Innovation, nPloy, and Akula Tech.
- C-Innovation, based in Paris, focuses on cybersecurity using AI for protecting digital ecosystems like healthcare, transportation, and government services.
- nPloy from Bulgaria specializes in HR Tech & Recruitment, offering a modern approach with app-centric matchmaking for job seekers and employers.
- Akula Tech from Melbourne excels in Robotics & Maritime Technology, crafting AI-powered underwater drones for inspecting marine infrastructure autonomously.
- HackerNoon's Business Blogging Program allows startups to showcase their stories for brand promotion and SEO benefits.
- Startups of The Year 2024 is a community-driven event by HackerNoon celebrating tech startups globally, acknowledging innovation and success in the industry.
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Eu-Startups
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London-based startup CaseCraft.AI raises €644k to further develop its small claims platform
- London-based startup CaseCraft.AI secures €644k in funding to develop its Small Claims platform.
- Mount Venture Capital Fund led the investment round with €351k participation.
- Co-founder Michael Iatsukha sees potential in AI for professional and consumer services.
- CaseCraft.AI was founded in 2023 by Mints, Iatsukha, Bagrov, and Kosarenko, offering assistance in filing and defending small claims.
- The platform aims to simplify the Small Claims Track court procedure in the UK for disputes valued at €10k or less.
- Claimants and Defendants benefit from guided assistance, detailed defense statements, and case management on the platform.
- The AI assistant provides insights and tips throughout the process to streamline litigation.
- Laert Karaashev of Mount Fund praises CaseCraft.AI for innovating the UK’s small claims process, making it more accessible and efficient.
- Funding will also support team expansion to recruit top talent in AI for consumer-facing solutions.
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Economic Times
4w
17
Image Credit: Economic Times
Finland backs space tech ICEYE firm with R&D funding
- Finland's business promotion agency has granted research and development funding to satellite and defence technology company ICEYE, contributing to European support for the space sector.
- ICEYE, a rapidly growing company, operates a fleet of 48 Synthetic Aperture Radar satellites with customers including Ukraine, NATO, and Japan.
- Business Finland allocated 41.1 million euros to ICEYE's 250-million-euro investment program, aiming to boost its global presence in space and defence technology.
- According to Business Finland's head, the funding will positively impact the entire space and defence sector, benefiting the ecosystem.
- With rising global security threats and the Ukraine conflict, the EU has initiated an 800 billion euro programme to enhance its defence, with tech startups like ICEYE expected to play a vital role.
- ICEYE's satellite constellation employs Synthetic Aperture Radar technology to generate high-resolution images of the Earth's surface regardless of weather or daylight conditions.
- ICEYE's strategy chief emphasized the importance of developing sovereign capability with their technology, given current needs.
- Apart from data services, ICEYE also offers radar imaging satellites to meet the growing demand for continuous global monitoring.
- ICEYE's CEO highlighted the significance of satellite technologies for national security, particularly in light of technological advancements and recent geopolitical events like the Ukraine war.
- The 250-million-euro investment will enable ICEYE to enhance satellite manufacturing, develop new sensors, and upgrade satellite platforms.
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ISN
4w
39
Image Credit: ISN
Nitin Gadkari announces FASTag-based annual pass for private vehicles at Rs 3,000 year
- The Ministry of Road Transport and Highways has announced a FASTag-based annual pass for private vehicle owners priced at Rs 3,000, set to be available from August 15, 2025.
- The pass, valid for one year or up to 200 trips, is designed for non-commercial vehicles like cars, jeeps, and vans, aiming to simplify toll payments and improve highway travel experience.
- The introduction of the annual pass by Union Minister Nitin Gadkari is expected to reduce toll expenses and minimize delays at toll plazas for frequent highway travelers.
- The average cost per trip under the new pass is Rs 15, offering significant savings compared to conventional toll charges. This move benefits short-distance commuters and those near highway toll plazas.
- Activation and renewal of the pass can be done through the Rajmarg Yatra App, NHAI, and Ministry websites, enhancing accessibility for users.
- The FASTag system, mandatory since February 2021 for highway toll payments, ensures seamless and contactless transactions using RFID technology.
- Over 98% of toll fees on NH corridors were collected via FASTag as of March 2024, highlighting the widespread adoption of the system.
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ISN
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206
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Swiggy appoints Saurav Goyal to head driver & delivery org
- Swiggy appoints Saurav Goyal to lead the Driver and Delivery Org, elevating him from his previous role in Business Finance.
- Goyal joined Swiggy in June 2020 and played a crucial role in the company's financial strategy alignment and IPO readiness.
- He will now focus on empowering delivery partners, essential to Swiggy's ecosystem, bringing almost two decades of industry experience.
- Prior to Swiggy, Goyal held leadership positions at Ola, Flipkart, and Tata Communications, known for driving profitability in consumer-focused enterprises.
- In a LinkedIn post, Goyal expressed his shift towards enhancing the quality of life for urban consumers by prioritizing delivery partners.
- Girish Menon, Swiggy's CHRO, emphasized the company's commitment to developing resilient talent and leaders for the future.
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TechCrunch
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190
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4 days left: Lock in your TechCrunch All Stage pass — or miss $210 in savings
- TechCrunch All Stage pass offers $210 savings if purchased before June 22 at 11:59 p.m. PT.
- Event in Boston on July 15 features 1,000 founders and investors at all stages.
- Attendees can benefit from real scaling strategies, live investor feedback, and valuable conversations.
- Speakers include industry experts like Tiffany Luck, Charles Hudson, Cathy Gao, and Chris Gardner.
- Topics cover pitching, traction tactics, breaking plateaus, fundraising strategies, and scaling playbooks.
- Two breakout stages cater to different startup journeys: Foundation Stage and Scale Stage.
- Small-group roundtables offer deep dives into various topics like VC playbook, founder burnout, and building in a volatile market.
- Time is running out to secure the discounted pass. Register before June 22 at 11:59 p.m. PT.
- Event details and registration can be found on the TechCrunch website.
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Ketto
4w
195
Image Credit: Ketto
How to Maximise Your Chances of Success with Crowdfunding for Cancer Treatment
- Crowdfunding is a valuable resource for cancer patients facing financial challenges, offering global support and financial aid.
- Effective strategies for successful crowdfunding include choosing the right platform, crafting an engaging story, and setting realistic fundraising goals.
- Utilizing visuals, leveraging social media, personalizing outreach, and engaging with donors are crucial for campaign success.
- Collaborating with organizations, seeking media coverage, and maintaining transparency help build trust and broaden support.
- Crowdfunding assists with costly treatments, alternative therapies, travel expenses, and supportive care for cancer patients.
- It empowers patients, raises awareness, builds a supportive community, and bridges healthcare disparities in cancer treatment.
- By following outlined methods, individuals can enhance their campaign's visibility and increase their chances of reaching fundraising goals.
- The article provides comprehensive guidance on maximizing success in crowdfunding for cancer treatment, emphasizing transparency and community engagement.
- Ketto, a leading platform in India, offers dedicated support for cancer patients, enhancing campaign exposure and community aid.
- The article qualifies for web story generation, providing valuable insights and actionable steps for individuals navigating crowdfunding for cancer treatment.
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Startup Pedia
4w
6.1k
Image Credit: Startup Pedia
Fintech firms should view rural areas as new markets, not just social responsibility: FM Nirmala Sitharaman
- Finance Minister Nirmala Sitharaman encourages Indian fintech startups to see agriculture and rural areas as new markets, not just social responsibility.
- She emphasizes the need for innovations in agriculture to connect farmers better with markets.
- Fintech firms are urged to focus on rural India for market creation opportunities.
- Sitharaman stresses the importance of providing credit to Micro, Small, and Medium Enterprises (MSMEs).
- Indian companies are innovating rapidly in digital payments, outpacing some advanced countries.
- Other countries are interested in interacting with India to learn from its digital payment advancements.
- Winners of the Digital Payments Awards include Punjab National Bank, HDFC Bank, WhatsApp Meta, and PhonePe.
- Public and private banks, as well as fintech companies, were recognized for their contributions to digital payments.
- Equitas Small Finance Bank and India Post Payments Bank were among the winners in small finance and payments bank categories.
- The event highlighted the importance of digital payments infrastructure and innovation in the financial sector.
- Fintech firms are advised to seize the opportunities in rural India's evolving market.
- Sitharaman commends Indian companies for their rapid progress in digital payments, surpassing many other nations.
- The Finance Minister stresses the vital role of fintech companies in extending credit to MSMEs.
- Fast Moving Consumer Goods (FMCG) companies are witnessing a resurgence in demand from rural areas.
- International interest in India's digital payment advancements is growing.
- Overall, the event showcased the significance of digital payments and fintech innovation in India's financial landscape.
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Hackernoon
4w
328
Image Credit: Hackernoon
Tech Made in Ukraine: The People Behind the Platforms We Use Every Day
- Ukrainian developers and entrepreneurs have played key roles in companies like Revolut, GitLab, Grammarly, Wise, and Moss, reshaping global markets.
- Vlad Yatsenko, co-founder of Revolut, led the development of a financial platform that revolutionized digital banking and expanded globally.
- Dmytro Zaporozhets founded GitLab, the first Ukrainian company to go public on NASDAQ, valued at $15 billion.
- Grammarly, created by Alex Shevchenko, Max Lytvyn, and Dmytro Lider, has become a unicorn in AI-powered writing assistance.
- Nikolay Mironenko, co-founder of fintech startup Moss, automated financial management for European businesses and enabled seamless expense handling.
- Ukrainian tech success stories highlight the global potential of solving real problems with scalable technologies.
- Networking, collaboration, and market understanding are vital for Ukrainian entrepreneurs to succeed in the tech industry.
- The success of Ukrainian-founded companies like Grammarly, Revolut, and Wise demonstrates the impact of Ukrainian professionals on the global tech landscape.
- Ukrainian developers are encouraged to create companies that shape global markets and set new standards in the tech industry.
- Global fintech and tech markets are accessible to Ukrainian engineers who focus on innovation, problem-solving, and scalability.
- Ukrainian professionals can leverage their engineering expertise, rapid implementation skills, and market adaptability to succeed not just as employees but as founders of global startups.
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