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Startup News
Startupreporter
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AM/NS India Commissions First Dedicated Scrap Processing Facility
- ArcelorMittal Nippon Steel India (AM/NS India) has commissioned its first scrap processing facility at its Khopoli manufacturing site in Maharashtra, with an annual capacity of 120 KTPA.
- The facility is part of a ₹350 crore investment program by AM/NS India to strengthen domestic scrap supply chains and meet the growing demand for high-quality scrap for steel production.
- By processing scrap at its own facilities, AM/NS India aims to enhance material quality and yield, reduce conversion and logistics costs, and formalize the scrap industry.
- This development aligns with India's goal to increase the share of scrap metal in steel production to 50% by 2047 and supports the government's initiatives to boost domestic scrap availability.
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Startupreporter
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Instant Payouts for Businesses: Empowering Financial Efficiency with Accosis
- Accosis, a fintech innovator, introduces Accosis Payouts, enabling businesses to make instant payments to vendors, employees, and customers.
- Accosis Payouts supports multiple payment methods, including bank transfers, UPI, and digital wallets, ensuring seamless access and ease of use.
- The seamless API integration automates bulk transactions, improving cash flow management and providing real-time tracking and analytics.
- Accosis Payouts prioritizes security with advanced protocols, end-to-end encryption, and automated reconciliation for accurate fund settlements.
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Startupreporter
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Shripad Upasani Named CEO of Parasnath Clinic, Targets INR 100 Cr Turnover by FY 2025-26
- Shripad Upasani has been named CEO of Parasnath Speciality Clinic.
- Under his leadership, the organization aims to establish 100 clinics and achieve INR 100 crore in turnover.
- The initial expansion will focus on Maharashtra with plans to extend operations across India.
- Parasnath Speciality Clinic specializes in non-surgical, holistic treatments for joint pain and musculoskeletal disorders.
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Startupreporter
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419
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UAE Investors Eye India’s OTT market
- UAE investors are targeting India's OTT (Over-The-Top) market, driven by the country's growing video streaming audience of over 547.3 million.
- Smartphones are the dominant choice for online video consumption, with 97% of viewers using them and 81% relying exclusively on smartphones for OTT content.
- UAE-based investment firm Royal Cut Investment invested AED 50 million in Royal Rapchee Entertainment, a new OTT streaming platform launching in UAE and India, with plans to expand across Asian and Middle Eastern countries.
- OTT growth in India is propelled by AVoD (Advertising-Based Video on Demand) audiences, with free content driving expansion, especially in small towns and rural areas.
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Startup Pedia
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BIS Raids Amazon, Flipkart Warehouses For 15 Hours, Seizes 3,500+ Uncertified Fake Products
- Indian Bureau of Standards (BIS) conducted raids at Amazon and Flipkart warehouses seizing over 3,500 uncertified products.
- The raid at Amazon's warehouse resulted in the confiscation of items like geysers, food mixers, and electrical appliances lacking the mandatory ISI certification.
- In a separate raid at a Flipkart subsidiary, BIS seized around 590 pairs of sports shoes that failed to meet ISI standards.
- Similar raids have been conducted in other cities, and BIS has issued notices to Meesho, Myntra, and BigBasket to sell only BIS-certified products on their platforms.
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Yourstory
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BluSmart to deploy 300 electric cabs on Uber’s platform: Report
- BluSmart, an electric vehicle ride-hailing app, plans to deploy 300 electric cabs on Uber's platform.
- BluSmart and Uber have been in talks for several months, and the arrangement follows a standard aggregator model.
- BluSmart is facing funding troubles and key executives, including the CEO, are resigning.
- BluSmart previously had an arrangement with Rapido, but it ended due to liquidity troubles at Gensol, the company that leased the majority of BluSmart's cabs.
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Yourstory
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105
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KRAFTON acquires controlling stake in Nautilus Mobile for Rs 118 Cr
- South Korea-based KRAFTON has acquired a controlling stake in Pune-based game development studio Nautilus Mobile for Rs 118 crore.
- The acquisition marks KRAFTON's first control deal in India and will allow Nautilus Mobile to tap into KRAFTON's global presence and technology.
- JetSynthesys, the majority investor in Nautilus Mobile, will exit the studio, while remaining a minority investor and continuing to work with Nautilus in areas including esports.
- KRAFTON has been making significant investments in the Indian gaming space, aiming for $150 million investments and planning to acquire two to three companies in India.
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Yourstory
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Database tradeoffs: Finding the sweet spot between performance and cos
- Organizations face unique hurdles in leveraging data and AI for insights and AI initiatives.
- Challenges include data sprawl, poor data quality, and streamlining data integration.
- Roundtable discussion focused on reducing total cost of ownership and maximizing performance.
- Insights included managing compact database systems and simplifying application architecture.
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Yourstory
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22
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smallcase raises $50M in Series D round led by Elev8
- India's online investment platform smallcase has raised $50 million in a Series D funding round led by Elev8 Venture Partners.
- The funds will be used to expand smallcase’s investment product offerings and strengthen retail investor engagement.
- smallcase plans to add mutual funds, fixed income instruments, and other asset classes to its product lineup.
- The company recently partnered with online brokerage platform Zerodha to launch an asset management company focused on index funds and ETFs.
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Inc42
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smallcase Bags $50 Mn To Expand Its Investment Product Offerings
- Investment tech startup smallcase has raised $50 million in a Series D funding round led by Elev8 Venture Partners.
- The funding round also included participation from State Street Global Advisors, Niveshaay AIF, Faering Capital, and Arkam Ventures.
- smallcase plans to use the funding to expand its investment product offerings and strengthen partnerships with financial institutions.
- The capital will also be utilized to enhance technology and data analytics capabilities.
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Inc42
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19 Quick Commerce Newcomers Aiming To Replicate Blinkit, Zepto Formula
- Quick commerce is a rapidly growing sector offering fast delivery of a wide range of products, not limited to groceries, with short delivery times.
- Established players like Zepto, Swiggy Instamart, and Zomato’s Blinkit are expanding offerings to include electronics, clothing, and more in addition to food.
- The quick commerce sector in India has experienced a significant sales surge of 280% in the last two years.
- Flipkart and Amazon have entered the quick commerce space with 'Minutes' and 'Amazon Now' respectively to capitalize on the market.
- Numerous startups and conglomerates are entering the quick commerce market looking to replicate the success of established players.
- Companies like Nykaa, Myntra, and Swish are experimenting with quick delivery of apparel and food items to consumers within minutes.
- Startups like Blitz, Blip, and FirstClub are innovating in providing quick delivery logistics and services across various product categories.
- JioMart, magicNOW, and M-Now are also venturing into quick commerce by offering instant deliveries of groceries, food, and essentials.
- Ola has introduced quick food and grocery delivery services under Ola Food Delivery and Ola Grocery Delivery respectively.
- New entrants like Snabbit, WAAYU, and Zing are focusing on offering quick services in sectors such as cleaning, food, and cloud kitchen operations.
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Yourstory
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7 Key lessons from life: Living in the Brackets by Anki Jain
- Living in the Brackets by Anki Jain proposes a metaphor of life unfolding within parentheses, emphasizing the significance of overlooked moments.
- The book encourages a shift in perspective to view life as a blend of major events and subtle interludes that contribute to personal growth.
- Key lessons include embracing pauses for reflection and reinvention, finding wisdom in unplanned journeys, and recognizing success beyond external validation.
- Significant conversations, organic life improvisation, and deriving joy from ordinary occurrences are highlighted as essential elements of a fulfilling life.
- The narrative stresses the importance of looking beyond societal labels and appreciating the fluid nature of personal identity and growth.
- Examples like Amitabh Bachchan's career revival and Rukhmabai Raut's perseverance illustrate the power of embracing life's unexpected twists and turns.
- Living in the Brackets challenges the notion of success defined solely by traditional standards and invites readers to find beauty in the seemingly mundane.
- The book culminates in advocating for a holistic approach to life, where the moments 'in between' hold the true essence of existence.
- It underscores that life's true richness lies in the overlooked moments that often go unnoticed in the pursuit of more visible milestones.
- Anki Jain's work serves as a reminder to cherish the nuances of life and appreciate the profound impact of everyday experiences that shape our journey.
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Inc42
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17
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How Something’s Brewing Is Disrupting India’s $500 Mn Coffee Industry With Specialty Brews
- India's coffee culture is growing, with a $500 Mn industry.
- Something's Brewing, a D2C marketplace for coffee, was launched in 2020.
- The startup focuses on home brewing, offering premium coffee gear and high-quality brews.
- Something's Brewing plans to double its growth, expand retail presence, and achieve INR 100 Cr in revenue in the next few years.
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Economic Times
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Smallcase raises $50 million in funding led by Elev8 Venture Partners as wealthtech heats up
- Wealthtech startup Smallcase has raised $50 million in a Series D funding round led by Elev8 Venture Partners.
- The fresh capital will be used to accelerate smallcase’s product expansion across mutual funds, fixed income, and other asset classes.
- Smallcase operates a model portfolios platform, allowing investors to buy curated baskets of stocks and ETFs.
- The investment marks Elev8 Venture Partners' third major deal, as they believe in backing companies that are shaping industries.
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Inc42
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How OM Bhakti Is Blending Heritage & Modern Retail To Reshape Puja Essentials
- OM Bhakti is a D2C brand in India that offers high-quality, traditionally handcrafted puja products.
- The brand focuses on bringing quality and consistency to the unorganised market of puja essentials.
- OM Bhakti offers innovative offerings like cotton long batti and ghee cotton batti, along with tamper-proof, hygienic packaging.
- The startup aims to achieve a revenue of INR 13.5 Cr in FY25 and target INR 100 Cr by 2027.
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