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Startup News
Inc42
4w
133
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How Omnivio Is Helping Brands Nail Speed & Experience In The Quick Commerce Era
- In the digital-first economy, businesses are prioritizing real-time visibility and data-driven insights for efficiency and growth, utilizing cloud-native platforms like Omnivio to optimize operations.
- Omnivio, founded by Snapdeal and Pickrr veterans, offers an AI-powered omnichannel control tower called Optimisation as a Service (OaaS) to enhance sales, inventory, financials, and operations for B2B clients.
- The platform integrates data via APIs to provide real-time visibility, analytics, and actionable insights, aiding brands in making data-driven decisions and automating workflows.
- Omnivio's q-commerce enablement solution helps D2C brands with quick delivery services, optimizing operations, and reducing reliance on third-party aggregators.
- The platform's subscription-based model offers tailored solutions, resulting in a significant revenue growth and plans for further expansion in the upcoming years.
- Omnivio's Control Tower addresses omnichannel complexity by syncing data across various functions, offering brands real-time insights, personalized recommendations, and AI-driven decision-making capabilities.
- It enables D2C brands to improve delivery speed, streamline operations, and enhance customer experience by leveraging its AI-powered decision engine and backend solutions.
- Omnivio caters to mid-to-large consumer brands, processing millions of orders annually and optimizing spending on marketplaces and logistics, showcasing tangible benefits and ROI for clients.
- With ambitious growth plans, Omnivio aims to expand internationally, onboard more brands, increase order processing volumes, and further optimize spending management across markets.
- The startup's focus on AI-led forecasting, automation, and q-commerce stack expansion positions it as a key player in the omnichannel optimization and D2C quick commerce infrastructure market.
- Despite the competitive landscape, Omnivio's mission-driven approach towards automating retail and supply chains for enhanced scalability and efficiency sets it apart as a potential game-changer in India's consumer brands sector.
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Insider
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179
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LexisNexis is teaming up with Harvey. Here's why that matters for the legal tech market.
- LexisNexis is partnering with legal startup Harvey to integrate LexisNexis data into the Harvey app, strengthening Harvey's legal software offering.
- Harvey, founded in 2022, gained popularity in the legal tech space with support from OpenAI and Sequoia, attracting large law firms like Ropes & Gray and Paul Weiss.
- The partnership allows Harvey users with LexisNexis subscriptions to access its legal content and citations within the app, filling a gap in Harvey's data offerings.
- This collaboration enhances Harvey's position in the legal tech market, where it competes with companies like Legora, Hebbia, and Eudia for market share.
- The integration of LexisNexis data into Harvey's platform provides a competitive advantage and may attract more law firms to use Harvey for legal drafting and review.
- Firms like Ropes & Gray have deployed Harvey firmwide, signaling a trend in Big Law towards embracing legal tech more extensively.
- Sean Fitzpatrick, CEO of LexisNexis North America, UK, and Ireland, mentioned that many of Harvey's large law firm clients are also LexisNexis customers, driving the partnership.
- LexisNexis invested in Harvey through its corporate venture arm, Rev Ventures, with a $300 million round, highlighting the strategic importance of the partnership.
- The move to integrate LexisNexis data into Harvey's platform aims to streamline legal workflows by providing easy access to legal research and drafting tools.
- The partnership reflects a shift in Big Law towards broader adoption of legal tech solutions, potentially intensifying competition among legal tech startups.
- While LexisNexis initially downplayed legal tech startups, the partnership with Harvey underscores the value of data-driven legal solutions and efficient workflows.
- Both companies stand to benefit from the collaboration, with Harvey expanding its data offerings and LexisNexis enhancing its presence in the legal tech market.
- The exact terms of the partnership, including data access arrangements, were not disclosed publicly.
- As the integration of LexisNexis data into the Harvey app progresses, its impact on legal workflows and user experience will be closely watched.
- For more information or tips, readers can contact the reporter via email at [email protected] or Signal at @MeliaRussell.
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ISN
4w
259
Image Credit: ISN
AI-powered childcare management platform illumine raises $2.5 million in funding
- illumine, a childcare management platform, secures $2.5 million in seed funding led by Prime Venture Partners to expand globally.
- The startup aims to address operational challenges faced by childcare providers in the United States.
- The demand for reliable childcare has risen with dual-income households becoming common.
- illumine uses AI technology to streamline childcare operations, replacing outdated tools with a modern infrastructure.
- Prime Venture Partners believes that the childcare industry lacks modern technology, causing frustration for parents, teachers, and childcare centers.
- The platform, co-founded in 2018, automates tasks like lesson planning and staff scheduling using AI.
- illumine plans to enhance U.S. expansion, boost product development, and integrate with local regulations using the new funding.
- The platform is used in 56 countries and has shown significant revenue growth.
- illumine offers an all-in-one solution for childcare centers, including enrollment, compliance, billing, engagement, curriculum design, and analytics.
- The system is beneficial for organizations with multiple sites needing centralized management.
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Economic Times
4w
15.3k
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MakeMyTrip is buying out its Chinese stakeholders; these startups have also reduced Chinese holdings
- MakeMyTrip plans to raise $3 billion to buy back shares from Trip.com Group, reducing Trip.com's stake to 19.99%.
- Several Indian companies, including Paytm, Zomato, BigBasket, Dream11, Delhivery, and Pratilipi, have been cutting Chinese stake holdings amid geopolitical tensions.
- Paytm saw Ant Financial lowering its stake gradually in One 97 Communications to under 5% from about 25% over the years.
- Alibaba divested its stake in Zomato through its entities Ant Financial and Alipay Singapore Holding, reducing its stake to 2.1%.
- Tata Group acquired a 60% stake in BigBasket from Alibaba, providing full exit to the Chinese company.
- Dream11 has seen Tencent reducing its stake to less than 10% from approximately 10% due to regulatory challenges.
- Delhivery's Chinese investor Fosun International sold a portion of its stake to Addition and Bay Capital, planning to exit the company.
- Pratilipi raised $20 million, with Chinese investors Qiming Venture Partners and Shunwei Capital exiting during the funding round.
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ISN
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418
Image Credit: ISN
Vision AI startup Metafusion appoints Avinash Trivedi as Chief Growth Officer
- Metafusion, a vision AI startup, appoints Avinash Trivedi as Chief Growth Officer to lead growth strategy across enterprise adoption and market expansion.
- Avinash Trivedi will drive GTM and revenue acceleration for Metafusion's AI product suite including video intelligence and traffic management.
- Metafusion is expanding its presence in smart city projects, urban mobility ecosystems, and enterprise domains globally.
- Avinash Trivedi brings over two decades of experience in business development with expertise in video surveillance and SaaS.
- Prior to joining Metafusion, Avinash served as President - Sales & Business Development at ZYGAL.
- He has a track record of building high-growth business pipelines across APAC, the Middle East, and Europe.
- Avinash Trivedi expresses excitement about joining Metafusion at a critical juncture in its journey.
- Yatin Kavishwar, the Founder and CEO of Metafusion, highlights Avinash's enterprise acumen and leadership qualities aligning with their mission.
- Metafusion integrates generative AI, NLP, computer vision, and big data to provide actionable intelligence in various sectors.
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Ketto
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186
Image Credit: Ketto
Your Guide to The Best Hospitals in Ahmedabad
- When looking for quality medical care in Ahmedabad, it can be overwhelming due to the numerous hospitals available.
- Marengo CIMS Hospital in Ahmedabad is renowned for various medical achievements, including pioneering heart transplants and advanced cardiac care.
- Zydus Hospital is another top medical institution known for its super-speciality services and comprehensive care across different specialities.
- Sterling Hospitals, Sindhu Bhavan, excels in gastro sciences, oncology, and robotic surgery, offering advanced treatments for various health conditions.
- KD Hospital, also known as Kusum Dhirajlal Hospital, stands out for its multi-speciality services, especially in cardiology, oncology, and joint replacements.
- Shalby Hospitals is a leading healthcare provider in Ahmedabad, specializing in orthopaedics, cardiac sciences, and advanced surgical procedures.
- Lifeline Hospital is noted for its expertise in spine surgery, joint replacements, and comprehensive care across multiple disciplines.
- Narayana Hospital offers advanced medical care in haemato-oncology, rheumatology, cardiac sciences, and paediatrics, ensuring multidisciplinary care.
- Life Care Hospital is a trusted healthcare facility known for its cardiac care, neurology, orthopaedics, and patient-centric services.
- Kaizen Hospital, being the first NABH-accredited gastroenterology super-speciality hospital in Western India, provides cutting-edge care in gastrointestinal disorders and surgery.
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Siliconangle
4w
40
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Neovera acquires Greenway Solutions to expand fraud testing capabilities
- Neovera Inc. has acquired adversarial fraud testing company Greenway Solutions for an undisclosed price.
- Greenway Solutions, founded in 2004, specializes in adversarial fraud testing for financial institutions.
- The company uses Fraud Red Teaming, live simulations, to assess fraud controls in production environments.
- Greenway conducts live exercises to challenge fraud defenses across digital platforms in real time.
- Their testing methodology provides actionable insights by evaluating fraud defenses across channels.
- Clients include banks, fintechs, and healthcare providers with notable customers like SoFi and Robinhood.
- The acquisition enhances Neovera's managed security services and fraud mitigation capabilities.
- Neovera and Greenway plan to deliver tailored cybersecurity solutions to regulated organizations.
- The acquisition aims to capitalize on the convergence of cybersecurity and fraud prevention functions.
- Neovera had previously acquired cybersecurity and compliance companies to strengthen its offerings.
- The acquisition reflects a broader market trend towards integrated cybersecurity and fraud prevention.
- Neovera's goal is to provide unified defenses through the partnership with Greenway Solutions.
- The acquisition expands the reach of Greenway's fraud testing methodology.
- The companies aim to offer comprehensive solutions to combat fraud in various sectors.
- Greenway's expertise in fraud testing complements Neovera's existing security services.
- Neovera believes the partnership will deepen their impact in the cybersecurity and fraud mitigation space.
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Inc42
4w
395
Image Credit: Inc42
Otipy Raised Millions, But Couldn’t Beat The Quick Commerce Wave
- Otipy, an agritech startup in India, struggled to compete with the rise of quick commerce in the market despite raising significant funds and being an early mover in the farm-to-table space.
- The company, founded by Varun Khurana and Prashant Jain, aimed to connect consumers with farmers through a community of resellers for doorstep delivery of fresh produce.
- Otipy raised substantial funding, expanding its operations and joining the ONDC program to scale its consumer base beyond Delhi-NCR.
- Despite revenue growth, Otipy faced challenges in operational efficiency and financial sustainability due to the capital-intensive nature of last-mile delivery and perishable categories.
- The company's model began to show cracks as quick commerce services offering rapid deliveries started attracting consumers away from Otipy's value proposition of pre-planned fresh produce orders.
- Struggling to pivot to faster deliveries, Otipy faced logistic complexities, higher wastage risks, and a lack of resources to compete in the quick commerce market.
- Otipy failed to secure adequate funding and eventually shut down operations, reflecting the challenges faced by farm-to-table startups in adapting to changing consumer demands.
- The downfall of Otipy highlights the broader trend in the agritech sector where startups are reassessing their farm-to-fork models in light of the evolving market dynamics.
- Investors are cautious about the future of farm-to-fresh startups, suggesting a need for differentiated offerings and partnerships with retailers to succeed in the competitive landscape.
- Lessons from the closure of Otipy may prompt a rethinking of strategies for agritech startups to focus on quality, uniqueness, and indirect sales channels for sustainable growth.
- The fate of the farm-to-table segment post-Otipy's shutdown raises questions about the viability of the model and the need for innovative approaches to meet consumer demands.
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Inc42
4w
249
Image Credit: Inc42
IPO-Bound BlueStone Eyes Unicorn Tag With Fresh Funding
- BlueStone, an IPO-bound jewellery platform, aims to raise fresh capital at a unicorn valuation of INR 11,500 Cr ($1.15 Bn) with plans for an IPO valuation of INR 13,000 Cr.
- The company is inviting investors to infuse pre-IPO capital, offering a 13% discount from its IPO valuation.
- BlueStone anticipates a 38% revenue increase to INR 1,800 Cr in FY25.
- Existing backers 360 One and Centrum Wealth are reportedly looking to sell their stakes, aiming to raise INR 300 – 350 Cr in the fresh funding round.
- BlueStone previously raised INR 900 Cr, boosting its valuation to $970 Mn with investments from firms like Peak XV Partners, Prosus, Steadview Capital, and others.
- Founded in 2011, BlueStone offers over 8,000 jewellery designs across various categories, competing with CaratLane, GIVA, and other brands.
- The company filed a DRHP for its INR 1,000 Cr IPO in December 2024, receiving SEBI's approval in April.
- BlueStone claims a leading position in India's studded jewellery market, boasting 200+ offline stores and an average order value growth to INR 41,205 in FY24.
- Market share increased to 28% in 2023 from 22% in 2021, with a decrease in losses by 15% YoY to INR 142.2 Cr in FY24.
- Operating revenue surged over 64% YoY to INR 1,265.8 Cr in FY24, with a recent debt raise of INR 40 Cr from BlackSoil and Caspian Impact Investments.
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SiliconCanals
4w
102
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Dutch firm Rival Foods secures €10M to boost clean-label plant-based meat production
- Dutch food-tech company Rival Foods secures €10M in Series B funding round.
- New investors in the funding round include APG, Pymwymic, ROM Utrecht Region, and existing investor PeakBridge.
- Pymwymic is a community of European wealth holders backing sustainable investments.
- Funding will enable Rival Foods to double production capacity, scale manufacturing technology, and reduce production costs.
- Rival Foods addresses challenges in plant-based meat market like high prices and undesirable taste with patented technology.
- Plant-based meat only accounts for 5% of meat consumption in Europe.
- Investment marks a milestone in Rival Foods' mission to mainstream high-quality plant-based meat.
- Rival Foods, founded in 2019, focuses on supplying whole-cut plant-based products to chefs and food service providers.
- CEO Birgit Dekkers aims to reshape the future of protein with the support of new investors.
- Shift to alternative proteins can significantly reduce food-related emissions, making plant-based meat vital for sustainability.
- Rival Foods' technology converts simple ingredients into clean-label, protein-rich cuts resembling real meat.
- The company aims to accelerate the adoption of plant-based eating through quality plant-based alternatives.
- Pymwymic community sees Rival Foods as pivotal in accelerating the shift towards a sustainable, plant-powered future.
- Rival Foods collaborates with chefs and consumer brands to enhance plant-based menus and increase the popularity of plant-based eating.
- With the recent funding, Rival Foods is poised to scale rapidly, focusing on taste, texture, and nutrition of plant-based products.
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ISN
4w
440
Image Credit: ISN
Growth-stage venture fund Physis Capital raises over Rs 200 crore
- Physis Capital, a growth-stage venture fund founded by Vinay Bansal, Ankur Mittal, and Mitesh Shah, has raised over Rs 200 crore, with more capital expected to be secured over the next 6 to 9 months.
- The fund has garnered investment from family offices, HNIs, and institutional investors, including SUD Life, Narayana Nethralaya, Haldiram’s, and Lotus Holdings.
- Physis Capital focuses on high-impact tech startups from Pre-Series A to Series B, supporting innovative founders addressing real-world challenges.
- The firm aims to build a portfolio of 15+ companies by the first half of next year, with 8 deals currently in the pipeline and expected investments to close within the next 2 quarters.
- Physis Capital boasts a global network of experienced CXOs, advisors, and operators across over 10 countries, contributing to sharp investment decisions.
- The fund's LPs offer strategic insights and industry expertise beyond capital, actively engaging to add substantial value and aid portfolio companies in scaling across markets.
- Physis recent investment in STAGE, a hyperlocal OTT platform catering to regional audiences in dialects like Haryanvi and Bhojpuri, reflects its goal to invest in 15 to 20 startups by next year's final close.
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Startup Pedia
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244
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“They saw Anupam (Mittal) and me become heroes,” Aman Gupta claims new sharks are using show for image makeover
- Aman Gupta, co-founder of boAt, suggests new sharks on Shark Tank India may be using the show for image makeover.
- According to Gupta, original judges didn't have hidden agendas, but new sharks are looking to improve their public image.
- Aman Gupta appreciates originality and companies' success over those using the show to 'fix' their character.
- The Indian version of Shark Tank features judges like Aman Gupta, Anupam Mittal, Namita Thapar, Peyush Bansal, and Vineeta Singh.
- On a podcast, Aman Gupta emphasized choosing happiness over money and how he prioritizes personal fulfillment in his career.
- Aman Gupta shared his journey from quitting a job to co-founding boAt Lifestyle, highlighting the importance of doing what makes one happy.
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Eu-Startups
4w
53
VC merger creates PXN Group – a €783 million investment powerhouse for the north of the UK
- Edinburgh-based Par Equity and Manchester-based Praetura Ventures are merging to create PXN Group, a new venture capital and investment firm with over €783 million in assets under management.
- PXN Group will be the fastest-growing venture and investment firm outside of London, Oxford, and Cambridge.
- Dave Foreman, Founder of Praetura Ventures, will be the CEO of PXN Group, emphasizing a platform built for impact in regional areas.
- Par Equity, established in 2008, focuses on early-stage tech companies in Scotland, Northern Ireland, and Northern England with successful exits like Current Health and Symphonic Software.
- Praetura Ventures, founded in 2019, supports high-growth startups and manages institutional funds with tax-efficient products and services.
- The merger between Par Equity and Praetura Ventures aims to offer greater investment potential in underserved regions and a broader range of opportunities for various investors.
- PXN Group plans to provide equity investments from €233k to €9.3 million across different sectors and growth stages, aiming to support founders as they scale.
- The new entity will help financial advisers expand their investment products and continue managing existing funds and mandates with no significant changes.
- PXN Group, operating in Manchester, Edinburgh, Leeds, and London, aims to back ambitious founders and create category-leading businesses in the North of the UK.
- The firm seeks to close the regional funding gap in the UK and foster high-growth success stories in the North over the next year.
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Inc42
4w
280
Image Credit: Inc42
ArisInfra IPO: Issue Subscribed 18% On Day 1 So Far
- The IPO of ArisInfra Solutions, a B2B ecommerce company, was subscribed 18% on the first day of bidding.
- Retail investors’ portion was subscribed the highest at 80%, with bids for 19.72 lakh shares.
- Qualified institutional buyers (QIBs) bid for only 6,432 shares against 71.37 lakh shares reserved for them.
- Non-institutional investors (NIIs) bid for 4.4 lakh shares, resulting in a 12% subscription rate.
- Price band for the IPO is set at INR 210 to INR 222, with the issue comprising a fresh issue of INR 499.6 Cr.
- 75% of the offer is reserved for QIBs, while NIIs and retail investors are allocated 15% and 10% respectively.
- The IPO will close on June 20, with shares expected to list on June 25.
- ArisInfra aims for a post-issue implied market cap of INR 1,799 Cr at the upper price band of INR 222.
- The company raised INR 224.8 Cr from anchor investors prior to the IPO.
- ArisInfra, founded in 2021, is a B2B construction material procurement platform.
- The IPO proceeds will be used to repay outstanding borrowings, with INR 204.6 Cr going towards repaying debt to its promoter group entity.
- ArisInfra recorded a net profit of INR 6.5 Cr in the first nine months of FY25, a turnaround from previous losses.
- The company had reported losses in previous financial years, including INR 15.4 Cr in FY23 and INR 6.5 Cr in FY22.
- Operating revenue for the first nine months of FY25 stood at INR 546.5 Cr.
- The IPO update was reported by Inc42 Media.
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SiliconCanals
4w
240
Image Credit: SiliconCanals
Sweden’s Polar raises €8.6M to build the open-source monetisation platform for one-developer unicorns
- Polar, a payments infrastructure company based in Stockholm, has raised €8.68M in seed funding led by Accel.
- Notable angel investors who participated in the funding round include Guillermo Rauch, Tobi Lütke, and others.
- Accel, known for backing successful companies like Slack and Spotify, led the round, recognizing Polar's potential in the developer community.
- Polar, founded by Birk Jernström in 2022, simplifies billing implementation for AI-native SaaS businesses.
- Their open-source Merchant of Record solution allows for quick billing integration with just six lines of code.
- The company boasts a growing customer base including Bolt AI, Midday, and more.
- The funding will support Polar in expanding globally, developing new billing tools, and strengthening developer relationships.
- Polar aims to assist developers in monetizing their software efficiently, handling billing and international sales taxes.
- With over 18,000 customers in 100+ countries, Polar experienced significant growth since its billing platform launch in September 2024.
- The company has seen a 120% month-on-month growth in online sales over the last six months.
- Polar's focus on open source and developer-centered products has attracted a community of 16,000 developers using its platform.
- The platform offers automated SaaS entitlements and integrates with tools like Framer, Raycast, and Zapier for upselling opportunities.
- Overall, Polar aims to simplify billing complexities for developers, enabling them to focus on product development and business growth.
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