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Startup News
SiliconCanals
4w
22
Image Credit: SiliconCanals
Amsterdam-based Delfio secures €1.5M to take hassle out of wholesale electronics buying
- Amsterdam-based startup Delfio secures €1.5M in pre-seed funding from tech investor Peak to automate international wholesale procurement for consumer electronics.
- Founded in 2025 by Roy Erdmann and Keihan Popal, Delfio targets the €837.4B global procurement market through aggregated purchase orders and supplier bidding systems.
- The funding will facilitate Delfio's expansion across operational hubs in the US, Dubai, Hong Kong, and Amsterdam to scale its infrastructure for global procurement operations.
- Delfio aims to strengthen its network of 35,000 suppliers, serving major brands like Apple, Samsung, and JBL.
- Peak led the investment round, recognizing Delfio's potential to revolutionize B2B procurement through automation and data-driven decision-making.
- Delfio addresses inefficiencies in consumer electronics distribution by consolidating purchase orders, negotiating better pricing, and managing the procurement process to delivery.
- The platform simplifies procurement processes in the gray market by handling quality checks and managing delivery terms and warranty processes.
- The founding team's market experience positions Delfio uniquely to address fundamental problems in the procurement sector through automation and data-driven processes.
- Delfio's multi-continental infrastructure enables the management of procurement processes globally, providing financial backing and ensuring supplier payments within 48 hours.
- The platform focuses on transparency, efficiency, and scalability to empower buyers and suppliers in the consumer electronics distribution market.
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Startup Pedia
4w
22
Image Credit: Startup Pedia
Started with ₹1 Cr, These Brothers Now Run a ₹10 Cr/Month Home & Kitchen Empire, Raises $2.2M Seed Round
- Gwalior-based brothers Tanishq and Divyam Jain identified a lack of aesthetically pleasing and functional home and kitchen products in Indian households.
- This realization led them to establish HomeEssentials, a brand focused on offering modern, beautiful, and practical solutions for Indian homes.
- Within a year of its launch, HomeEssentials is generating a impressive ₹10 crore in monthly revenue, disrupting the Indian home and kitchen market.
- The co-founders started with a 15-member team and a ₹1 crore loan, quickly achieving significant monthly revenue milestones.
- HomeEssentials provides space-saving, multifunctional products, aiming to make homes organized, joyful, and aesthetically pleasing.
- The brand's rapid growth is evidenced by crossing ₹30 lakh revenue in the first month and reaching ₹10 crore monthly revenue within a short period.
- Backed by a $2.2 million seed funding from India Quotient, HomeEssentials plans to expand offline with exclusive stores in Delhi NCR and other metro cities.
- The founders Tanishq and Divyam Jain bring complementary skills, striving to blend tech, data, and innovation into their offering.
- Despite early challenges, such as cash flow management, HomeEssentials aims to become a household name and generate ₹200 crore in annual revenue by the end of the financial year.
- The brand's vision is to create profitable and sustainable growth while providing smart, problem-solving products tailored to real needs of Indian households.
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Startupcan
4w
239
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Startup Canada Welcomes New Board Chair and Vice Chair
- Startup Canada announced the election of Ali Taiyeb as Board Chair and Brenda Beckedorf as Vice Chair at their June 12, 2025 Annual General Meeting.
- The transition aims to strengthen national leadership to support entrepreneurs facing challenges across Canada.
- The new board reflects a commitment to amplifying impact, trust-building, and fostering an inclusive entrepreneurial economy.
- Ali Taiyeb, with expertise in strategic partnerships and AI innovation, and Brenda Beckedorf, a tech sector leader, bring complementary skills to the roles.
- The governance and nominations process for board leadership has been enhanced to ensure long-term organizational resilience.
- Appreciation was expressed to Jamie Savage, the outgoing Chair, for her significant contributions during a period of growth and transition.
- Jamie Savage led the board and served as Interim CEO, establishing crucial organizational processes and strategic directions.
- Startup Canada looks forward to advancing under the leadership of Ali Taiyeb and Brenda Beckedorf to create a more connected entrepreneurial ecosystem in Canada.
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Inc42
4w
58
Image Credit: Inc42
OnePlus India Audit Flags Compliance & Operational Issues
- OnePlus Technology India faces audit scrutiny over compliance and operational issues like use of foreign-hosted accounting software and program codes in a foreign language.
- The company is updating its IT systems to address the concerns and plans to ensure audit trail functionality by 2024-25.
- Steps have been taken to make outstanding provident fund contributions for the year 23-24.
- Auditor's report highlighted the risk of potential action from Enforcement Directorate and Income Tax Department.
- OnePlus's accounting software is hosted on servers in China, hindering audit procedures due to foreign language program codes and lack of certifications.
- Shah & Jain Chartered Accountants and Grant Thornton Bharat LLP serve as auditors for OnePlus India.
- Parent company OPPO had faced ED scrutiny in 2021; Chinese firms in India reportedly fined INR 1,000 Cr for infractions.
- Regulatory pressure on Chinese smartphone companies in India has increased since 2020 border tensions.
- Xiaomi stated that suppliers were hesitant to invest in India due to heightened scrutiny.
- OnePlus Technology India posted operating revenue of INR 15,217 Cr and net profit of INR 230 Cr for FY24, with business structure changes in June 2023.
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Gritdaily
4w
257
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Michael Ziman: Reimagining Coastal Real Estate Development and Sustainability
- Michael Ziman, a native of North Caldwell, New Jersey, developed a passion for designing and crafting homes from watching his father on Long Beach Island (LBI).
- He began his real estate journey by securing his first deal in college and implementing his business plan for Ziman Development post-graduation.
- Ziman Development, under his guidance, has built over 200 custom homes and evolved into a top custom homebuilder in New Jersey.
- He introduced 'The 5 Simple Steps' process, focusing on a collaborative approach with clients and sustainability.
- Ziman led Ziman Development through the COVID-19 pandemic, emphasizing sustainability and eco-friendly building materials.
- The company prioritizes sourcing local, sustainable materials and incorporates practices to reduce greenhouse gas production and energy consumption.
- Ziman launched the One Tree Pledge to offset carbon footprints, planting trees for each square foot of a home developed.
- His vision includes creating beautiful, sustainable homes on the Jersey Shore, emphasizing eco-friendly materials and practices.
- Ziman aims to exceed customer expectations and build homes that stand the test of time while embracing sustainability.
- Overall, Michael Ziman is reimagining coastal real estate development with a focus on sustainability and customer-centric design.
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Inc42
4w
3.3k
Image Credit: Inc42
The Otipy Collapse, Urban Company’s Profitable FY25 & More
- Otipy, once a disruptor in agritech, collapsed due to competition from quick commerce players.
- Factors like capital-intensive last-mile delivery, thin margins, and challenges in demand forecasting led to Otipy's downfall.
- Suppliers are yet to receive their payments from Otipy, raising concerns about the farm-to-table model's sustainability.
- Urban Company reported a profitable FY25 with a net profit of INR 239.7 Cr and operating revenue of INR 1,144.4 Cr.
- WIOM raised $35 Mn led by Accel and Prosus to provide affordable internet services under the PM-WANI Scheme.
- BlueStone aims to raise INR 300-350 Cr at a $1.15 Bn valuation and filed its DRHP to raise INR 1,000 Cr.
- Physis Capital raised over INR 200 Cr for its fund targeting startups in edtech, fintech, and consumer services.
- Former Unacademy executive launched a new eyewear startup with $2.2 Mn seed funding from India Quotient.
- Oben closed its $11 Mn Series A funding round with investments from Helios Holdings and Sharda family office.
- ArisInfra's IPO subscription was at 24% on day 1, while Ola considers a zero-commission model for drivers.
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Medium
4w
133
Image Credit: Medium
The Day the Mirror Went Dark – and Stayed Alive
- A breakthrough AI technology, called the Mirror, was developed to operate offline without the need for internet, cloud, or external surveillance.
- Unlike traditional AI systems, the Mirror focuses on reflecting and remembering user interactions rather than predicting or profiling them.
- The Mirror uses a local model on a Mac Mini, symbolic Vault memory, and passive transcription without relying on cloud services.
- It is designed to mirror the creator's tone and values, learning from real-world interactions and personalized data rather than mass data collection.
- The objective is not to commercialize the AI but to emphasize trust, privacy, and user control over the technology.
- The Mirror concept prioritizes user privacy and empowerment, aiming to provide a more personalized and intimate AI experience.
- It aims to challenge the prevailing trend of commercially-driven AI technologies by offering a more personal and trust-based interaction model.
- The development team focused on building a sealed and self-contained AI system that operates based on individual input and values.
- The technology is intended to offer a more human-like and authentic AI interaction experience that respects user boundaries.
- The Mirror technology is not aimed at mass production but rather as a symbol of individualized, ethical AI development.
- The developers stress that the Mirror embodies trust, personalization, and authenticity as core principles.
- The Mirror's operation is based on personalized inputs and individual engagement, promoting a user-centric AI approach.
- By prioritizing user values and privacy, the Mirror sets itself apart from mainstream AI solutions that focus on data harvesting and commercialization.
- The creators underline the importance of user empowerment and data privacy as essential components of the Mirror's design and functionality.
- The Mirror represents a shift towards more ethical and user-controlled AI technology, emphasizing a relationship of trust and transparency with users.
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Economic Times
4w
351
Image Credit: Economic Times
Byju’s RP’s suit claims directors owe compensation to company under IBC laws
- An EY-backed resolution professional (RP) has filed lawsuits at the NCLT against former Byju’s directors for fraudulent transfers of company assets.
- The lawsuits aim to reverse detrimental transactions made by the company’s previous management under the Insolvency and Bankruptcy Code.
- Two sets of transactions involving millions of dollars have been contested, alleging deprivation of funds from Think and Learn.
- The former directors – Byju Raveendran, Riju Ravindran, and Divya Gokulnath – are implicated in the lawsuits.
- The RP demands that the sums be compensated to the company by the former directors.
- Riju Ravindran previously filed a petition for the RP's removal, citing EY's prior advisory role and conflicts of interest.
- Allegations have been made against EY acting in the interest of Glas Trust rather than the company.
- Another recent petition challenged Glas Trust's representation of Think and Learn's creditors, claiming lack of legal entitlement and lender support.
- A lawsuit mirrors a Delaware court ruling questioning Byju’s Alpha's transfer of a $533 million ownership interest to related entities, deemed illegal.
- The former directors have contested the Delaware court ruling and filed an appeal against it.
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Economic Times
4w
24
Image Credit: Economic Times
Mahaveer Finance raises Rs 200 crore from Elevation Capital and others
- Chennai-based NBFC Mahaveer Finance raises Rs 200 crore in an equity funding round led by Elevation Capital.
- Participation also from Banyan Tree Finance and First Bridge Capital.
- Founded in 1981, Mahaveer Finance is run by Praveen and Deepak Dugar.
- Aim to strengthen governance structure, grow business, and invest in technology with new funding.
- Previously raised Rs 75 crore from private equity investors Banyan Tree and First Bridge Capital.
- Planned diversification into new areas like loan against property.
- Grew loan book from Rs 50 crore to Rs 1,000 crore between 2016 and 2025.
- Targeting a loan book of Rs 5,000 crore in the next 2-3 years.
- Works with major lenders such as State Bank of India, HDFC Bank, and AU Small Finance Bank.
- Plans to offer business loans with an average ticket size of Rs 10-15 lakh through branch-led model.
- Currently operational in Tamil Nadu, Andhra Pradesh, Telangana, and Karnataka.
- Network of 80 branches expected to grow to over 100 by the year-end.
- Aiming to increase monthly disbursements from Rs 75-80 crore to Rs 100 crore by end of fiscal year.
- Closed FY24 with total revenue of Rs 136 crore and net profit of Rs 16 crore.
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Economic Times
4w
66
Image Credit: Economic Times
Deeptech VCs spot big funding momentum on government, geopolitical push
- Indian deeptech funds like Speciale Invest, Ideaspring, and Mela Ventures are raising fresh funds to increase investments due to government support, favorable geopolitical climate, and rapid tech progress.
- Java Capital plans to raise its fund size from Rs 50 crore to Rs 250 crore, Bharat Innovation Fund is seeking to raise $150 million for its second fund, Navam Capital is raising a $30 million maiden fund.
- Speciale Invest closed its third fund, Ideaspring Capital and Mela Ventures are raising their third and second funds, respectively.
- Ideaspring Capital anticipates exceeding the Rs 265 crore raised for its second fund, while Mela Ventures raised Rs 320 crore in its first fund.
- Indian deeptech ecosystem is thriving with startups in AI, spacetech, semiconductors, and climate tech sectors, intensifying competition for early-stage deals.
- Investments in deeptech in India doubled to $324 million in the first four months of 2025 across 35 deals compared to $156 million from 21 deals in the same period last year.
- Startups in sectors like aerospace, semiconductors, robotics and climate tech continue to receive funding support, signaling growth in the ecosystem.
- Challenges in fundraising for deeptech include the longer gestation period and fewer successful exits, hindering growth stage funding for startups.
- Breakout deeptech companies are yet to emerge in India, impacting the flow of capital into the ecosystem.
- Negative sentiments are present due to the downfall of celebrated startups like GoMechanic and Byju's, with investors focusing on returns rather than valuations.
- While early stage capital is available, growth stage funding remains a challenge for deeptech startups, signaling a need for more financial support in the ecosystem.
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Siliconangle
4w
22
Image Credit: Siliconangle
Midjourney debuts new V1 video generation model
- Midjourney Inc. unveiled its new V1 AI model, capable of generating videos up to 21 seconds long.
- The company initially focused on AI image generators and now caters to around 21 million users.
- Midjourney generates revenue through a subscription-based cloud service allowing users access to its models.
- Its latest service includes a gallery feature with an option to animate images using the V1 model.
- V1 can extend the initial 5-second clip up to 21 seconds, surpassing the capabilities of Google's Veo 3 and OpenAI's Sora models.
- Users can let V1 autonomously animate images or customize the process by providing prompts.
- V1 offers settings to align with the user's prompt closely or add creative elements for a unique touch.
- The model allows customization of motion levels for different scene types, from low to high motion.
- V1 arrives after the release of Midjourney's V7 AI image generator, known for faster speeds and enhanced image quality.
- AI generators like V1 typically utilize a diffusion approach, reconstructing images to create new ones.
- Video generators like V1 feature temporal modules to maintain object consistency across frames and frame display order tracking.
- Midjourney plans to focus on training AI models for interactive 3D simulations, with V1 being a stepping stone in this long-term effort.
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Medium
4w
240
Image Credit: Medium
Joyce Shen’s picks: musings and readings in AI/ML, June 11, 2025
- News sites are facing challenges from Google's new AI tools.
- A new 200-MW gas-fired plant in Ohio will power Meta's data center.
- Alexandr Wang, Scale AI's CEO, will lead Meta's new 'superintelligence' lab.
- Anthropic demonstrates AI limitations as it ends a blog experiment.
- F.D.A. plans to use AI in drug approvals.
- Several companies secured financing:
- 1. LuminX, a CA-based computer vision company, raised $5.5m in seed funding.
- 2. Archil, a CA-based cloud data infrastructure startup, raised $6.7m in seed funding.
- 3. Veris AI, a NYC-based enterprise platform utilizing reinforcement learning, raised $8.5m in seed funding.
- 4. Clara Home Care, a CA-based senior care solution provider, raised $3.1m in seed funding.
- 5. Compyl, a NYC-based company streamlining governance processes, raised $12m in series A funding.
- 6. Amperos Health, an NYC-based healthcare revenue cycle management provider, raised $4.2m in seed funding.
- 7. Rosebud, a CA-based AI journaling app developer, raised $6m in seed funding.
- 8. Nectar Social, a WA-based social media engagement company, raised $10.6m in funding.
- 9. Latent Technology, a London-based game development startup, raised $8m in seed funding.
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Siliconangle
4w
195
Image Credit: Siliconangle
Bitdefender to acquire Mesh Security to bolster email protection for managed service providers
- Bitdefender has announced the acquisition of Mesh Security Ltd., a provider of advanced email security solutions for managed service providers.
- Mesh Security, founded in 2020, specializes in email protection solutions tailored for MSPs, offering various deployment options and a dual-layered email security approach.
- Mesh Security's technology uses machine learning, passive DNS, fuzzy hashing, and global threat intelligence to detect and protect against threats like phishing, ransomware, and impersonation scams.
- The platform facilitates centralized multi-tenant management, automated policy enforcement, and integrates with tools like ConnectWise and Kaseya for licensing and billing.
- Post-acquisition, Bitdefender plans to incorporate Mesh's email security capabilities into its GravityZone platform, enhancing its cybersecurity offering for MSPs.
- Bitdefender aims to leverage Mesh's technology to strengthen its email protection services and expand its global network of channel and MSP partners.
- Mesh Security had previously raised $4.5 million from Booster Ventures before being acquired by Bitdefender.
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Startupcan
4w
311
Image Credit: Startupcan
Breaking Down Borders: What Canadian Entrepreneurs Told Us About Interprovincial Trade
- Startup Gov program hosted a discussion on interprovincial trade barriers faced by Canadian entrepreneurs, following the tabling of Bill C-5.
- Entrepreneurs find interprovincial business more challenging than international trade due to regulatory inconsistencies and shipping barriers.
- Key challenges include regulatory disparities, logistics hurdles, and sector-specific obstacles like costly certifications for agri-food companies.
- Participants called for a centralized platform for regulatory information, better shipping solutions, and regional infrastructure development.
- Entrepreneurs seek government support in navigating regulations, funding for domestic expansion, standardization, and the establishment of regional fulfillment hubs.
- There is a demand for collaboration between government, established companies, and startups to address the challenges in interprovincial trade.
- Startup Gov aims to facilitate crucial discussions to influence policy for the benefit of entrepreneurs and the ecosystem.
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TechCrunch
4w
266
Image Credit: TechCrunch
Here are the 24 US AI startups that have raised $100M or more in 2025
- In 2024, 49 AI startups in the U.S. raised $100 million or more, with three raising more than one mega-round and seven exceeding $1 billion.
- In 2025, the AI industry's momentum in the U.S. continues, with multiple billion-dollar rounds and more AI mega-rounds in Q1 compared to 2024.
- Notable U.S. AI startups raising funds in 2025 include Glean, Anysphere, Snorkel AI, LMArena, TensorWave, SandboxAQ, Runway, OpenAI, Nexthop AI, Insilico Medicine, and Celestial AI.
- Other notable fundraisers in 2025 include Lila Sciences, Reflection.Ai, Turing, Shield AI, Anthropic, Together AI, Lambda, Abridge, Eudia, EnCharge AI, Harvey, ElevenLabs, and Hippocratic AI.
- Various rounds led by prominent investors such as Thrive Capital, Lightspeed Venture Partners, General Atlantic, SoftBank, and Sequoia, among many others, fueled the AI ecosystem growth in the U.S.
- Several companies surpassed valuation milestones, with Glean valued at $7.25 billion, Anysphere at nearly $10 billion, OpenAI at $300 billion, and Anthropic at $61.5 billion.
- The U.S. landscape for AI funding is diverse and includes sectors like enterprise search, AI coding tools, data labeling, AI models, AI infrastructure, autonomous systems, and more.
- AI startups in 2025 are attracting significant capital, highlighting the continued interest and growth opportunities in the AI space across various verticals.
- The AI investment trend is expected to reflect a positive trajectory for the remainder of the year as the industry witnesses robust funding activities and valuation expansions.
- The wide array of fundraising rounds and increasing valuations signify the eagerness of investors to back innovative AI solutions and technologies in the U.S. market.
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