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Startup News
Medium
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Top 5 and How Tech Partnerships Can Solve Them
- Tech partnerships can help startups overcome challenges like lack of funding, limited access to skilled tech experts, difficulties in scaling, staying competitive, and product development.
- Tech partners provide startups with resources, expertise, and cost-effective solutions, allowing them to prioritize spending and implement scalable services.
- Outsourcing to a tech partner enables startups to hire skilled teams without the lengthy and costly recruitment process, empowering startups to focus on core business functions.
- Tech partnerships offer startups flexibility in scaling through scalable software, cloud infrastructure, and automation tools, ensuring smooth transitions during periods of rapid growth.
- By partnering with a tech provider, startups can leverage the latest tools and technologies, such as predictive analytics, AI-driven insights, and automation, to stay competitive and innovative.
- Tech partnerships facilitate rapid MVP development, helping startups validate ideas and launch products faster with experienced tech teams and proven frameworks.
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Yourstory
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396
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Udaan raises Rs 300 Cr in debt funding from Lighthouse Canton, Stride Ventures and others
- Udaan, the eB2B platform, has raised Rs 300 crore in a debt financing round.
- The funding comes from investors including Lighthouse Canton, Stride Ventures, InnoVen Capital, and Trifecta Capital.
- Udaan plans to use the funds to expand its geographical footprint, enhance its 'Go-to-Market' plans, and improve the supply chain.
- The company aims to drive profitability and solidify its market position in various categories including FMCG, staples, fruits and vegetables, and pharma.
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Medium
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Millions in Profit from Branchless Banking: Fintech Product Design Challenges the Rules
- Banks are being redefined in the digital age, with ease, efficiency and functionality the core elements defining a bank’s brand and business.
- The digital user experience (UX) has become the main touchpoint through which the bank’s brand is communicated and experienced.
- Product design and UX is key to profitability in modern banking, but many offerings focus too narrowly on functionality, neglecting the importance of the user’s emotional experience.
- Banks must work to understand the needs and pain points of users, adopting a user-centered product design approach and embracing emotionally engaging customer experiences.
- Banks that prioritize product design and UX will be better equipped to adapt to new technologies and changing customer expectations.
- Superior product design, UX design and personalization capabilities help banks differentiate themselves in a crowded market, drive customer acquisition and retention and reduce costs.
- In a future where technology continues to evolve rapidly, banks that prioritize product design and UX will be better equipped to adapt to new technologies and customer expectations.
- Superior product design and UX determine how a bank can attract, engage and retain customers, manage operational costs, differentiate itself and adapt to future technological changes.
- They are the drivers of profitability and digital ROI for banks in the digital age.
- Quality of the digital interaction shapes the view of the bank’s reliability, innovation and customer focus.
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Yourstory
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335
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Rajasthan's rising stars: 10 innovative startups shine at TechSparks Bangalore 2024
- Rajasthan's entrepreneurial spirit was on full display at TechSparks 2024 in Bengaluru.
- iStart Rajasthan played a pivotal role in fostering the state's startup ecosystem.
- 10 promising startups showcased their innovative solutions at the event.
- The success of these startups highlights Rajasthan's potential as an emerging startup hub.
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Inc42
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First Cheque Seeks To Back 15-29 Startups From Third Cohort
- First Cheque is planning to invest in 15-29 startups over the next 18 months from its third cohort.
- The startups will receive an average first cheque size of around $500,000 as part of the investment.
- First Cheque is adjusting its investment strategy to work alongside other investors and participate in larger rounds.
- The Mumbai-based venture capital firm has previously invested in over 100 startups.
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Eu-Startups
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Creative Capital Ventures launches €18 million fund to invest in tech, digital media and consumer products
- Creative Capital Ventures launches new investment fund with €18 million committed to date.
- The fund aims to provide financial backing and strategic growth acceleration for early-stage tech companies and IP acquisitions.
- It will focus on sectors including technology, digital media, and consumer products.
- CCV Studio, a venture studio, will play a crucial role in the fund's strategy.
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Medium
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287
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Go4rex Review — Is it a Scam or Legit Broker
- The article discusses the review of Go4rex, a trading broker.
- The author shares their experience of encountering problems with Go4rex.
- They mention that the broker required a payment of 19% to make a withdrawal.
- The author concludes that Go4rex turned out to be a scam.
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Inc42
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Arya.ag Receives $19.8 Mn Commitment From DFC
- Agritech startup Arya.ag has secured a commitment of $19.8 Mn from US International Development Finance Corporation (DFC) for its agri commerce subsidiary Aryatech.
- The funding will enhance Arya.ag's ability to connect farmers and Farmer Producer Organisations (FPOs) with buyers by providing payment security, ensuring transaction transparency, and improving market access.
- The funds will be disbursed in a single tranche upon completion of necessary conditions precedent (CPs), and the commitment is for a period of seven years with amortisation beginning in the fourth year.
- Arya.ag aims to transform India's grain commerce ecosystem and has raised a total funding of over $100 Mn till date.
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Medium
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Yes, Tech Billionaires Are Building a Utopian City In California
- A trend has emerged among tech billionaires to construct 'utopian cities' in California.
- These cities aim to offer an improved quality of life through advanced technology and environmental stewardship.
- Challenges include regulatory approvals, community involvement, and environmental concerns.
- Regardless of the outcomes, these initiatives have the potential to inspire sustainable urban development.
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Silicon
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Shein Profits Drop 70 Percent
- Direct-from-China e-commerce firm Shein has seen a 70 percent drop in profits in the first half of 2024 due to competition from Temu.
- Revenue growth for Shein fell to 23 percent during the period, compared to 40 percent in 2023.
- Shein's IPO plans have been complicated by regulatory scrutiny and pressure from US lawmakers.
- Existing shareholders of Shein have expressed frustration and requested the repurchase of their shares.
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Yourstory
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Tata to enter quick commerce race with Neu Flash
- Tata Digital will enter the quick commerce market with Neu Flash on its ecommerce super app Tata Neu.
- Neu Flash, powered by BigBasket's hyperlocal operations, will offer categories beyond groceries, including electronics and fashion.
- The pilot launch is expected in cities with strong BigBasket traction, such as Mumbai and Bengaluru.
- Major players like Zepto, Zomato (through Blinkit), and Swiggy are also expanding in the quick commerce space.
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Startup Pedia
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BBMP Engineers Should Design Roads 'Scientifically' Like ELCITA — Says, Biocon's Kiran Mazumdar-Shaw
- Biocon founder Kiran Mazumdar-Shaw suggests that the BBMP engineers should learn from ELCITA and design roads scientifically.
- ELCITA, a township in Bengaluru, has adopted strategies such as proactive maintenance, AI monitoring, and clean drainage systems to keep its roads pothole-free.
- ELCITA uses an AI tool called Road Metrics to scan roads for defects every fortnight and fix any problems quickly.
- Netizens agree with Kiran Mazumdar-Shaw's suggestion and emphasize the need for better road design and maintenance in Bengaluru.
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ISN
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Home services platform COOX raises $125,000 in funding led by Inflection Point Ventures
- COOX, a platform for booking home services, has raised $125,000 in a Seed funding round led by Inflection Point Ventures.
- The funds will be used for city expansion, increasing marketing activities, and integrating AI technology.
- COOX offers a range of home services, including chefs, cleaners, bartenders, and event decoration.
- The Indian food services market is projected to reach $125 billion by 2030, providing growth opportunities for COOX.
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StartupDaily
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10 new startups from University of Newcastle’s I2N accelerator
- The University of Newcastle’s I2N accelerator program has seen 10 startups emerge, including Biofuels Symor, ByStorm Beauty, Cloud Grow, EM Energy, Facet Amtech, Wild Yeast Zoo, Adios, FG, IhydRATE, and Robotic Surf Lifesaving.
- The I2N aims to support entrepreneurs by linking them to the 4Cs: community, customers, coaching and capital.
- This year, the program focused on cleantech and impact, covering issues from energy to managing death and mobility.
- The program is sponsored by the Port of Newcastle, with a focus on taking innovative ideas from academic labs into global manufacturing.
- Nearly half of founders were female, and seven of the ten teams are female-led.
- Some of the startups include EM Energy, which has found a way to turn biomass and coal waste into hydrogen gas without greenhouse gas emissions, and ByStorm Beauty that is transforming makeup for people with disabilities.
- The startups were chosen to take part in the program, which runs annually and helps Hunter-based founders benefit from Accelerator.
- This year’s demo night will take place on November 6 at the I2N Hub Honeysuckle.
- The solutions from these start-ups will have environmental impact, and help with the movement towards clean energy, sustainable fuel, and greener infrastructure.
- Tickets are available here, and the short EOI form to join the next accelerator program in 2025 is available online.
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Startupreporter
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Aura Virmani- Asia’s representative at Miss Unity World 2024
- Aura Virmani, an 18-year-old from Jaipur, Rajasthan, India, is passionate about both pageantry and sports.
- After winning Miss Unity Asia 2024, she is now preparing to represent Asia at Miss Unity World 2024, competing with contestants from over 40 countries.
- Aura is a state-level shooter in 10m Air Pistol Shooting and aims to represent India in both pageantry and sports.
- She is committed to lifelong learning and personal growth, and ready to make India proud on the global stage.
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