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Startup News
Economic Times
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Image Credit: Economic Times
Ecommerce AI startup BiteSpeed raised USD 3.5 million
- Ecommerce AI startup BiteSpeed has raised USD 3.5 million in a funding round led by Peak XV's Surge.
- The funding round saw participation from Whiteboard Capital, Gaurav Munjal (Unacademy CEO), Aakash Anand (Bella Vita CEO), and Dhruv Vohra (META APAC Head), among others.
- BiteSpeed plans to use the fresh capital to accelerate hiring efforts, support global expansion, and deepen research and development in generative AI.
- StampMyVisa, an AI-powered platform, has raised Rs 6.6 crore from Unicorn India Ventures to upgrade its AI technology, expand its geographical reach, and introduce new offerings.
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SiliconCanals
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6 key stakeholders, including these Dutch cities, join forces to drive innovation and entrepreneurship in Zuid-Holland
- The Province of Zuid-Holland, MRDH, and four Dutch cities collaborate to enhance the environment for startups and scale-ups.
- A letter of intent was signed to create a programme focused on developing startups and scale-ups in the region by 2025.
- Other stakeholders and educational institutions are encouraged to participate in the initiative.
- The collaboration aims to overcome challenges, promote innovation, and strengthen the competitive position of the region.
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Inc42
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Image Credit: Inc42
CropIn Trims Net Loss To INR 62.87 Cr In FY24
- Bengaluru-based agritech startup CropIn reduced its net loss to INR 62.87 Cr in FY24.
- Operational revenue increased by 15.99% to INR 31.15 Cr in FY24.
- Total income grew to INR 35.76 Cr in FY24, with operational revenue contributing 87.10%.
- CropIn has partnered with over 250 B2B customers, digitized 30 Mn acres of farmlands, and raised $44.08 Mn in funding.
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Alleywatch
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Bluespine Raises $7.2M to Help Self-Insured Employers Fight Medical Overbilling
- Bluespine raises $7.2M to help self-insured employers fight medical overbilling.
- Bluespine is an AI-driven claims cost reduction solution that helps self-insured employers discover, recover, and prevent medical overbilling.
- Bluespine’s evidence-based approach leverages proprietary AI to analyze 100% of claims with pinpoint accuracy.
- Bluespine’s technology examines every claim submission using LLMs to integrate and analyze health plan contracts, Summary Plan Documents, Machine-Readable Files, and billing guidelines to ensure accuracy.
- With an estimated 80% of medical bills containing errors, there’s a significant opportunity for cost recovery.
- The company’s business model aligns with client interests through a contingency-based fee structure.
- Bluespine’s platform is focused on self-insured employers and delivers comprehensive claims auditing to combat widespread medical overbilling.
- Bluespine is partnering with leading brokers, including Alliant Insurance Services, to enhance their capabilities and service offerings.
- Bluespine’s platform is the first of its kind to combine data from health plan contracts, Summary Plan Documents, Machine-Readable Files, and plan billing guidelines to conduct comprehensive audits that are uniquely tailored to the specific coverage terms of each employer.
- The problem of medical overbilling – a symptom of fraud, waste, and abuse, costs self-insured employers an estimated $300B annually.
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Yourstory
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Image Credit: Yourstory
7 Situations where staying silent is your best move
- Knowing when to stay silent is a valuable skill that can save your reputation, protect relationships, and prevent regret.
- Stay silent during heated arguments to avoid saying something hurtful and allow both parties to cool down.
- When receiving criticism, listen without interrupting, acknowledge the feedback, and take time to process before responding.
- Avoid engaging in gossip or rumors, as it can damage your reputation; respond with non-committal statements or change the topic.
- When meeting someone new, use silence to observe, listen, and show genuine interest in them.
- After making a mistake, pause in silence to reflect, own up to the error, and apologize meaningfully if necessary.
- In business negotiations, silence creates tension and allows the other party to reveal more or adjust their terms.
- During a friend's emotional moment, silent presence can provide space and comfort without rushing or pressuring them.
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Yourstory
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Image Credit: Yourstory
Business comebacks: 3 brands that bounced back to success
- Lego: From bankruptcy to becoming iconic
- Converse: Reviving a classic
- IBM: From mainframes to the cloud
- Resilience, creativity, and a willingness to change are the keys to surviving in the business world
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Inc42
1d
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Image Credit: Inc42
Startups Gain Competitive Edge Through Real-Time Data Insights: Will LaForest, Global Field CTO, Confluent
- Real-time data insights are transforming the customer experience across businesses and organziations.
- Top quartile real-time businesses (RTBs) experienced over 62% higher revenue growth and 97% higher profit margins than the bottom quartile according to a recent study.
- 64% of data streaming adopters in the APAC region have seen a ROI of 5x or greater, rising up to 69% for Indonesian and 71% for Indian companies specifically.
- Startups can use real-time data to drive product evolution and stay ahead of shifting market trends by unlocking insights from continuous, real-time data streams.
- Real-time data technology is crucial for startups that are looking to disrupt their industries and achieve rapid growth.
- Applying AI models as quickly as possible against real-time data streams is key for businesses, and particularly for fraud detection, where inferencing at close proximity to the data stream is crucial.
- B2B real-time data sharing is a growing trend in industries such as the logistics and financial sectors.
- Data streaming products, by making data more easily accessible to innovate, and the democratization of data through self-serving data products, are now proving to be key trends in data access and usage.
- India, where data streaming adoption and talent is high, is now one of Confluent's fastest-growing markets.
- The rise of RTBs is inevitable in today's fast-paced business environment and depends on real-time data streaming that can unlock vital information about customers and markets.
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AllTopStartups
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Image Credit: AllTopStartups
Why cPanel Hosting is the Perfect Launchpad for Startups
- Shared cPanel web hosting is ideal for startups looking to create a strong online presence on a budget.
- It offers a user-friendly interface that makes it easy for beginners to use with buttons and options for all the core website tasks.
- cPanel hosting is cost-effective and scalable, which means you can start small and elevate as your website traffic and business needs grow.
- cPanel hosting includes built-in security tools like Firewalls, malware scanners, and an SSL certificate ensuring protection for your website and customer data.
- With cPanel hosting, you can create email accounts that match your domain, configure email forwarding, auto-responders, and spam filters directly.
- You can perform one-click backups, ensuring all your data is saved safely, and the restore feature allows you to revert to a saved version of your website.
- With cPanel's domain management, you can keep your website organized, add and manage multiple domains or subdomains, all from the same dashboard.
- cPanel hosting's scalable environment supports adding features that attract more traffic and improve user experience, helping startups grow at their own pace.
- Tools like the file manager, FTP access, and easy database management simplify daily tasks and make it possible for startups to operate efficiently, even with limited resources.
- cPanel is an excellent choice for any startup looking for an affordable and reliable web hosting that provides a strong foundation for future growth.
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AllTopStartups
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Image Credit: AllTopStartups
Shopify Development Budgeting: How Can Startups Plan Their Finances?
- Launching a successful Shopify store requires proper financial planning with budget-conscious strategy.
- Customized or DIY store creation can cost USD 50 to USD 100 and professional development can cost USD 300 to USD 4,500.
- Startup owners can avoid financial strain by assessing the Shopify development costs and budget.
- Functionality requirements, design complexity, and eCommerce operations are key factors that determine the store's development cost.
- It's important to set realistic budgets after analyzing subscription fees, Shopify theme costs, custom development, and marketing expenses.
- Startups should hire a Shopify expert who can work on SEO optimization, theme development and apps, Shopify store setup, eCommerce migration, and post-setup assistance.
- Startup owners must define project requirements, assess technical expertise, and find a professional with a positive history for finding the best Shopify developer.
- Freelancers have lower rates, while agencies have a team of specialists and quicker turnaround time, both of which will come with a different price point.
- Startup businesses must ensure effective budgeting for their Shopify store by assessing the associated costs and must understand these costs to succeed in the eCommerce landscape.
- Carefully evaluating expenses and comparing options will help make a financial decision and hire Shopify experts.
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ISN
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Image Credit: ISN
Zomato CEO Deepinder Goyal congratulates Swiggy on stock market listing, Here's what he said
- Zomato CEO Deepinder Goyal congratulates Swiggy on its stock market listing.
- Swiggy's shares listed at a premium of 7.7% over the issue price on NSE and 5.64% on BSE.
- Zomato recently introduced a feature called 'Food Rescue' to minimize waste and redirect cancelled orders to nearby customers at discounted prices.
- Deepinder Goyal emphasized the goal of reducing food waste and delivering untampered canceled orders to customers within minutes.
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Inc42
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Image Credit: Inc42
Swiggy Shares End First Trading Session 17% Above Issue Price
- Shares of foodtech major Swiggy closed their first trading session at INR 455.95, up 16.91% from the IPO price of INR 390, on the BSE.
- The stock surged 12.93% from the listing price to reach the intraday high of INR 465.30 on the BSE.
- Swiggy's market capitalisation stood at INR 1.02 Lakh Cr ($12.09 Bn) at the end of the session.
- Brokerage firm JM Financial initiated coverage on Swiggy, giving a 'buy' recommendation and setting a price target of INR 470.
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Pymnts
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370
Image Credit: Pymnts
Grubhub Sold to Delivery Startup Wonder at 90% Loss
- Food delivery startup Wonder has acquired Grubhub at a significant loss for Just Eat Takeaway.
- Wonder will pay $650 million for the purchase, compared to the $7.3 billion that Just Eat Takeaway paid for Grubhub in 2021.
- Grubhub struggled as the pandemic wound down and consumers sought cheaper food options.
- Wonder aims to become a one-stop provider for food through its omnichannel food halls and partnership with Walmart.
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Inc42
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Image Credit: Inc42
Astrotalk’s FY24 Profit Jumps Multifold To INR 100 Cr
- Astrology startup Astrotalk recorded a massive jump in its consolidated net profit to INR 100 Cr in FY24.
- The company's profit surged 1,080% to INR 99.99 Cr compared to the previous fiscal year.
- Operating revenue increased by 129.81% to INR 651.12 Cr due to strong demand for its services.
- Astrotalk raised INR 110 Cr in funding and appointed Siddharth Prakash Singh as its CTO.
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SiliconCanals
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Image Credit: SiliconCanals
Spanish startup Impress secures €110M to expand its orthodontic chain
- Barcelona-based Impress has secured €110M ($117M) in equity and debt funding.
- The round was backed by Trinity Capital, CareCapital, LBO France, and TA Ventures.
- Impress plans to expand its orthodontic chain through 20 new clinics and European market entries by 2025.
- The funding will also be used to provide accessible, medically-driven orthodontic care across Europe.
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Inc42
1d
137
Image Credit: Inc42
CAIT Accuses Quick Commerce Players Of Violating FDI Norms
- The Confederation of All India Traders (CAIT) accuses quick commerce players like Blinkit, Swiggy Instamart, and Zepto of violating FDI norms and hurting traditional retailers.
- CAIT alleges that quick commerce platforms maintain exclusive agreements with preferred sellers, use FDI funds for predatory pricing, obscure seller information, and indirectly control inventory.
- These alleged violations by quick commerce players could have severe consequences for small businesses.
- CAIT is known for raising concerns against ecommerce giants like Flipkart and Amazon for similar violations.
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