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Yourstory
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Lendingkart's profit plummets in FY24 on the back of soaring expenses
- Lendingkart Technologies' profit in FY24 dropped 97% due to soaring expenses, despite a surge in revenue.
- Consolidated revenue from operations increased by 36.59% to reach Rs 1,090.63 crore.
- Profit plummeted to Rs 3.25 crore from Rs 118.81 crore in FY23.
- Total expenses rose by 58.92% to Rs 1,194.32 crore, driven by increased operational costs.
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Yourstory
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Vridhi Home Finance bags Rs 310 Cr in Series B funding round led by Norwest Venture Partners
- Vridhi Home Finance has raised Rs 310 crore in a Series B funding round led by Norwest Venture Partners.
- The funding will be used to accelerate expansion in existing markets and enhance technology infrastructure.
- The company aims to become the trusted financier for underserved self-employed and informal income customers.
- Vridhi Home Finance offers home loans ranging from Rs 3 lakh to Rs 45 lakh to serve underserved markets.
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Yourstory
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From Tokyo to Bengaluru: DTVS fuels startup success across India and Japan
- Deloitte Tohmatsu Venture Support (DTVS) is breaking down borders and bridging the gap between India's dynamic startups and Japan's innovation-hungry corporations by fostering cross-border collaboration.
- Through innovative platforms like Morning Pitch, specialised accelerator programs, and strategic expansion into India, DTVS is facilitating a new wave of cross-border partnerships.
- One of DTVS’s most groundbreaking initiatives has been Morning Pitch, a weekly event where startups present their ideas to an audience of large Japanese corporations and investors.
- Morning Pitch Asia @ India is a monthly platform that connects Indian startups with investors and corporations from Japan, India, and East Asia and offers an opportunity for startups to pitch their ideas to an international audience and access vital resources.
- DTVS’s journey from a small venture to a leader in Asia’s innovation space is nothing short of remarkable.
- Recognising the growing importance of India as a global innovation hub, DTVS made a strategic move by relocating its Global Managing Director to Bangalore.
- DTVS has expanded its reach with other initiatives in India including specialized accelerator programmes, innovation labs, and bespoke partnership models designed to foster direct collaboration between Japanese tech giants and Indian startups.
- DTVS’ efforts to foster collaboration between India and Japan are already showing significant results.
- The future of innovation lies in collaboration, and DTVS is leading the way in creating meaningful connections that propel startups and economies forward.
- Engaging with DTVS offers startups the chance to gain global exposure, access resources, and make connections that can lead to transformative growth.
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Gritdaily
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Connie L. Doyle Is Committed to Helping Others Through Software Engineering
- Connie L. Doyle is the senior director of software engineering at Sagent M&C LLC.
- She has over 20 years of experience in the mortgage industry.
- Doyle's career has been enriched by working with various organizations and developing leadership qualities.
- She is dedicated to customer satisfaction and empowering users to excel in their careers.
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StartupDaily
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321
SXSW Sydney pitch winner NanoCube Health scores $3m federal grant for pancreatic cancer plans
- Victorian startup NanoCube Health has secured a $3 million federal grant for its pancreatic cancer technology.
- NanoCube Health aims to develop technology for early detection and treatment of pancreatic cancer.
- The project is a collaboration with various research institutions and manufacturers.
- NanoCube Health will utilize artificial intelligence to develop a nanorobotics device for early-stage detection and targeted treatment of pancreatic cancer.
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Yourstory
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426
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KRAFTON India is the anchor investor in IMM India Fund
- KRAFTON India has become the anchor investor in IMM Investment's newly launched IMM India Fund.
- The fund will focus on growth-stage companies in sectors such as consumer brands, consumer tech, SaaS, fintech, gaming and media, and deeptech.
- IMM India Fund aims to support Indian startups with a clear trajectory towards an IPO, with its first investment made in Vellvette Lifestyle.
- KRAFTON India's investment strategy also includes a fund-of-funds approach and support through the Krafton India Gaming Incubator.
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Medium
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How Ghostwriters Make It Happen For founders, CEOs, and investors
- Ghostwriters play a crucial role for founders, CEOs, and investors in sharing insights and values directly with their audience.
- Ghostwriters help busy industry leaders turn their ideas into captivating content, reaching the right audience with the right message.
- A skilled ghostwriter captures the essence of the speaker, making the written words sound like their natural voice.
- Ghostwriting is an investment in credibility, providing influence, reach, and impact to the client's message.
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Yourstory
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Ola Electric shares drop below debut price
- Ola Electric's share price has dropped below its debut price of Rs 76 for the first time.
- Shares of Ola Electric were trading at Rs 75.6 on the Bombay Stock Exchange.
- The company's market cap slipped below $5 billion after hitting an all-time high of $8 billion in August.
- Ola Electric has faced regulatory scrutiny and consumer complaints, including a show cause notice from the Central Consumer Protection Authority.
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StartupDaily
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356
Kiwi medtech startup Alimetry raises $27 million Series A2 for gut health wearables
- New Zealand startup Alimetry has raised US$18 million (A$27m) in a Series A2 round to commercialise its wearable gut health monitoring device for the US market.
- Alimetry's wearable device integrates AI and detects electrical currents from the gut, providing a faster and more accurate diagnostic process for patients with chronic gut symptoms.
- The device has been approved for clinical use by the US Food and Drug Administration and is already being used in over 40 hospitals and clinics globally.
- Alimetry plans to expand its platform to include new features and extend its use beyond the gut, potentially transforming diagnostics in other organs such as the colon.
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Yourstory
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348
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Online credit platform KreditBee reports 26.5% rise in profit for FY24
- Lending platform KreditBee reported a 26.5% rise in profit for FY24, reaching Rs 126.4 crore.
- Expenses decreased by 19% to Rs 531.3 crore, mainly due to a decline in employee benefit expenses.
- Total number of employees decreased by 68% YoY as of March 2024.
- KreditBee is in the process of voluntary liquidation of its Singapore-based holding company, aiming to shift its domicile to India.
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Medium
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348
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Distribution: The Secret Sauce to Startup Success
- Distribution is vital for early startups as it affects revenue and market presence.
- Several startups have shown that prioritizing distribution can lead to success.
- Founders commonly make mistakes that hinder effective distribution.
- Addressing the distribution problem is essential for startup founders aiming for success.
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Economic Times
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Venture fund TurboStart launches new platform to connect startups and investors
- TurboStart, a venture capital firm in Bengaluru, has launched TS Bridge, an investment platform that will pair investors with potential startups across a range of stages.
- The platform will currently link up 170 investors, with the goal of hitting 1,000 investors in its initial year.
- TurboStart intends to support over 30 startups in its first year.
- TS Bridge has two different investment categories – Scout and Rise – targeted at super-early-stage startups at MVP stage, and later-stage startups up to Series A.
- TurboStart has currently invested in 52 startups since its launch in 2019.
- Unlike traditional funds that demand high-value investments, TurboStart offers an investment model with smaller ticket sizes, making it more accessible to a larger range of investors.
- TurboStart's micro-funding model, which seeks to invest smaller funds in deep tech and R&D-focused startups, has raised an aggregate of approximately USD 60m via two closed funds over the past three years.
- The company intends to incorporate a total of 50,000 investors within the next 2-3 years.
- TurboStart is based in Bengaluru but is currently looking to branch out to several Tier-II and Tier-III cities.
- Four startups have already been picked for investment by TurboStart via TS Bridge, including ToHands, a fintech startup that will provide an all-in-one solution for Kirana stores, and Realm, a luxury real estate management platform developer.
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Medium
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274
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Launch Faster: A 2-Day Blueprint for Testing New Business Ideas in 2025
- This guide provides a blueprint for leveraging no-code/low-code tools to accelerate business development.
- The guide covers tools, techniques, and tool combinations to achieve a Minimum Viable Product (MVP) quickly and with minimal hassle.
- The author has a background in scaling companies as a DevOps/SRE and SWE, lending credibility to their recommendations.
- No-code is rapidly evolving with new AI offerings, making it an attractive option for streamlining business processes.
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Inc42
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PaySense Cofounder’s New Startup Bags $25.5 Mn In Seed Funding
- Prashanth Ranganathan's fintech startup Zinc has raised $25.5 Mn in seed funding.
- The funding round was led by Nexus Venture Partners and saw participation from other investors.
- Zinc aims to provide Indian parents with tools and financial products to support their children's education abroad.
- The startup has obtained licenses to offer personalised investment advice and secure cross-border payment services.
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VIE Stories
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Online Furniture Shopping Tips: What to Expect from Kolkata Furniture Stores
- Online furniture shopping offers the luxury of many styles and designs, but it is important to know what to expect from furniture stores in Kolkata and how to shop online.
- Understand the quality, service, and reliability of the store by checking customer ratings, reviews, and opinion dissenters.
- Online stores in Kolkata typically have a wide range of styles, from modern to classic, and collections that combine modern trends with traditional craftsmanship tactics.
- Pay attention to the materials used for the furniture as physical touch or inspection is unavailable while shopping online.
- Compare the prices of your intended furniture in other stores in Kolkata to get the best deal. Check the payment terms, taxes, and shipping costs before buying.
- Ensure that you understand the delivery process, delivery time, and charges. Check whether the store offers assembly services or not.
- Check the return policies of the furniture store, which is crucial if there is any damage, defect, or wrong description.
- By following these steps, you can confidently shop for furniture online, select pieces that suit your style, budget, and room requirements from furniture stores in Kolkata.
- Online furniture shopping is a convenient way to transform your living space into a comfortable and stylish home.
- Stay connected with VIESTORIES for more updates.
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