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This Haryana Man Was Called “Crazy” For Starting A Beekeeping Biz In 2001; His Natural Honey Venture Clocked Rs 3 Cr Turnover In FY25
- The Indian apiculture market is predicted to reach Rs 68,183 million by 2033, with a Haryana man pioneering beekeeping since 2001.
- Jagpal Singh Phogat, founder of Nature Fresh and Bee Buzz, saw his natural honey business grow to Rs 3 crore turnover in FY25.
- Starting with 30 bee boxes in 2001, Jagpal's venture now owns 1,000-1,200 bee boxes producing 35,000 kg of honey annually.
- He invested in a honey processing unit in 2016, expanded sales online and offline, and branched into two brands for different market segments.
- Jagpal also trains aspiring beekeepers, contributing to over 2,500 people starting their own beekeeping businesses.
- The beekeeping business offers practical training at Rs 2,000 per person, showcasing its growth potential and eco-friendly nature.
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SiliconCanals
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Paris-based Alice & Bob taps NVIDIA CUDA-Q to give quantum simulations a speed boost
- Paris-based Alice & Bob integrates NVIDIA CUDA-Q platform with their simulation library, Dynamiqs for quantum simulations.
- CUDA-Q is NVIDIA’s open-source platform for hybrid quantum-classical supercomputing.
- Dynamiqs allows high-speed simulations of quantum systems including QPUs using GPU technology.
- This integration accelerates complex quantum dynamics simulations by up to 75x.
- Alice & Bob's CEO, Théau Peronnin, highlights the importance of fast simulations for QPU development.
- Dynamiqs offers researchers new tools like automatic differentiation for Quantum Optimal Control, Parameter Estimation, and Quantum State Tomography.
- Alice & Bob aims to build a fault-tolerant quantum computer and has raised €130M since 2020 with promising experimental results.
- Their focus on cat qubits technology has shown potential in reducing hardware needs for quantum computing significantly.
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Inc42
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Govt Plans Levying MDR On UPI Transactions Over INR 3,000: Report
- The government is considering imposing a merchant discount rate (MDR) on UPI transactions above INR 3,000 to support banks and payment service providers.
- Discussions are ongoing to apply MDR based on transaction value rather than merchant turnover, with a recent meeting held involving key departments.
- While smaller UPI payments may remain exempt, larger transactions could soon incur a merchant fee, reversing the zero-MDR policy in place since 2020.
- No official statement has been released by the PMO, department of economic affairs, or department of financial services.
- MDR is a fee banks charge merchants for processing real-time payments in the UPI ecosystem; it was waived off for RuPay debit cards in 2020 to promote digital payments.
- Indian banks proposed reinstating MDR on UPI and RuPay debit card transactions in March, seeking a reversal of the zero MDR policy.
- Third-party application providers have voiced concerns about rising costs for high-value UPI transactions as they aim to build sustainable business models.
- The zero-MDR policy has impacted revenue for fintech players and bankers, prompting calls for a return to MDR to ensure a sustainable ecosystem.
- Paytm's founder mentioned that reintroducing MDR would lead to increased revenues for digital payment providers but also heightened competition.
- NPCI data shows a new high in UPI transaction volume and value in May, indicating the significance of UPI transactions in India's digital payment landscape.
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SiliconCanals
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London-based Maze secures €22.5M to beat hackers at their own game through an AI agent
- London-based AI-native cloud security platform Maze secures $25M (€22.5M) in Series A funding led by Theory Ventures.
- The startup, founded in 2024 by Harry Wetherald, Adrian Jozwik, and Santiago Castineira, has raised a total of $31M (€27.9M) within a year of its founding.
- Funding will drive team growth and expansion into new use cases for its AI-native security platform, focusing on autonomous vulnerability investigation and resolution.
- Maze plans to extend its security solution from vulnerability management to other cloud security applications.
- Existing investors Cherry Ventures and Tapestry VC participate in the funding round, which includes deployment of AI agents with various organizations.
- Maze's AI agents mimic human behavior, investigating cloud data to pinpoint exploitable vulnerabilities and automatically resolve critical security issues.
- In 2024, vulnerability exploitation increased by 34%, with CVE growth at 40%, signifying the importance of AI-native security solutions in addressing security incidents.
- The Maze team's collective experience includes working at companies such as Tessian, Elastic, and Amazon, with Theory Ventures partner Andy Triedman joining the Maze board.
- Maze's rapid funding trajectory, from seed to Series A in nine months, underscores the demand and validation for AI-native security solutions in the market.
- The company's AI agent is designed to automate investigations and triage, offering a new approach compared to traditional vulnerability management tools.
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Startup Story
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Leveling the Playing Field: Why India’s NGOs Deserve Financial Equity
- NGOs play a crucial role in India's development, but face financial inequities compared to private companies.
- They lack support mechanisms like overdraft facilities, tax incentives, and compliance benefits.
- Delays in project funding lead to salary delays, project halts, and disrupted services for NGOs.
- NGOs registered under MSME often do not receive payments within the mandated 45-day window.
- Contributions to SSE-listed NGOs do not count as CSR spend, discouraging corporate donations.
- The lack of financial support hinders NGOs in delivering essential services to communities in need.
- The article calls for empowering NGOs with financial tools, enforcing payment rules, and amending CSR regulations.
- It emphasizes the importance of leveling the playing field for NGOs to ensure a truly inclusive India.
- NGOs are portrayed as active drivers of change that deserve financial dignity and operational freedom.
- The conclusion stresses the need to back NGOs supporting Bharat with access and equity.
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Eu-Startups
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London-based cryptocurrency startup OpenTrade raises €6.1 million to expand stablecoin yield access
- London-based startup OpenTrade, which powers RWA-backed stablecoin yield products, raised €6.1 million in funding to expand access to dollar- and euro-denominated yields.
- The funding was led by Notion Capital and Mercury Fund, along with existing investors AlbionVC, a16z crypto, and CMCC Global.
- OpenTrade's platform offers real-world asset-backed USDC & EURC yield products for FinTechs, enabling easy access to yields with robust security measures.
- The capital infusion will drive product development, engineering capabilities, and operational capacity enhancements for OpenTrade.
- OpenTrade's B2B2C model allows FinTechs and neobanks to integrate RWA-backed yields to provide high-quality savings options for users.
- The startup aims to offer meaningful yields on USD and EUR holdings, especially in countries with high inflation and limited stable currency access.
- Users in countries like Argentina, Colombia, Mexico, Peru, and Spain can earn up to 3-9% APR on their USD and EUR holdings through OpenTrade partnerships.
- OpenTrade has seen significant growth, managing €41.1 million for clients and processing €174 million in transaction volume with a 20% average month-over-month growth.
- Investors like Notion Capital see the potential in OpenTrade to revolutionize global access to yield-bearing accounts and build essential financial infrastructure.
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Economic Times
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Debt collection platform Credgenics’ profit triples to Rs 25 crore in FY25; revenue up 40%
- Debt collection platform Credgenics reported a profit tripling to Rs 25 crore in FY25, driven by the demand for efficient recovery mechanisms amid stress on unsecured loans and rising default rates.
- The company's revenue increased by 40% to Rs 220 crore in FY25 compared to the previous year, with a focus on reducing dependence on unsecured personal loan accounts.
- Credgenics offers a software-as-a-service platform for lenders to manage loan collections, automate processes, and enhance repayment facilitation.
- The company is working with public sector banks on technology-led collection solutions, capitalizing on new revenue streams.
- Credgenics collaborates with 160 clients, including private banks, NBFCs, fintechs, and asset reconstruction companies, with notable partners like HDFC Bank, ICICI Bank, and Reliance Asset Reconstruction.
- CEO Rishabh Goel emphasized leveraging technology to address the challenges of scaling loan books by enhancing collection efficiency.
- Credgenics aims for growth within existing accounts, expanding its PSB client base, and venturing into international markets like the Middle East.
- In 2023, the company secured $50 million in funding from investors, valuing Credgenics at $340 million.
- Competitors of Credgenics include SpoctoX, CreditNirvana, and Rezolv, employing data-driven models to predict borrower behavior and implement recovery strategies.
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ISN
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Pantomath’s The Wealth Company launches Rs 2,000 crore Bharat Bhoomi Fund
- The Wealth Company Asset Management Pvt Ltd has launched a new Rs 2,000-crore Bharat Bhoomi Fund to capture value across physical assets in India's growth corridors.
- The fund is part of the Bharat Value Fund (BVF) series, focusing on yield-generating land-based and infrastructure assets for institutional and family office investors.
- This fund represents a shift towards real estate investing, contrasting previous focus on pre-IPO opportunities, targeting late-stage enterprises.
- Rakesh Kumar leads the fund with extensive real estate experience, while Bhavya Bagrecha brings expertise in managing institutional real estate deals.
- The fund's advisory board includes Peter Sharp, former head of Walmart's real estate operations in Asia.
- It has a pipeline of 1,200 acres across six identified projects, focusing on ready-to-launch assets with quick value creation potential.
- The fund will invest in data centers, warehousing, renewable energy parks, and residential segments across metro cities like Mumbai, NCR, Pune, and Bengaluru.
- It will also explore investments in infrastructure-led corridors, peri-urban zones, and satellite townships with upcoming transportation projects.
- The approach emphasizes regulatory readiness, land title clarity, and shorter exit timelines to manage capital efficiently.
- The Wealth Company aims to meet the demand for real assets with real outcomes by extending into India's real estate space with confidence and clarity.
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SiliconCanals
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Close call for Nova Talent, as it raises Series A for its merit-based professional network
- Nova Talent, a startup aiming to change the professional networking landscape, raises €3.2M in Series A funding led by CDP Venture Capital.
- The company, officially based in Stockholm, was founded in 2020 with roots in Italy, Sweden, and Spain.
- This investment round attracted BY Venture Partners and angel investors, totaling around €4.1M across three funding rounds.
- CEO Marino described the Series A funding as a close call, almost leading to the startup's demise.
- The funding will be used to scale Nova Recruiter, expand to European cities, and enhance the platform's matching algorithm.
- Nova Talent positions itself as a 'lifetime MBA' providing brand excellence, networking, and unique experiences through its merit-based approach.
- The platform has vetted over 25,000 professionals and collaborated with 800+ companies in various industries.
- Unlike LinkedIn, Nova Talent focuses on talent and potential rather than past work history.
- The company plans to use AI to improve member matching and the mobile app experience.
- CEO Marino and co-founders bring international expertise to the team, with Nova's roots tracing back to 1997.
- CDP Venture Capital, the lead investor, sees Nova Talent's value in improving productivity in the services sector.
- With the 'war on talent' continuing in Europe, Nova Talent's innovative professional networking approach is well-positioned for growth.
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Nytimes
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This A.I. Company Wants to Take Your Job
- A.I. technology is advancing to the point where it can now automate tasks traditionally performed by humans, including writing software and research reports.
- Some experts are concerned about an increase in unemployment among college graduates, suggesting that companies are using A.I. as a substitute for entry-level workers.
- Mechanize, a new A.I. start-up, aims to automate all jobs and transition to a fully automated economy as quickly as possible.
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Eu-Startups
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Barcelona-based Abacum raises over €50 million for their business planning software
- Barcelona-based Abacum, a business planning software company, has raised a €52.5 million Series B round led by Scale Venture Partners for further development of their Agentic AI, modeling engine, and collaborative workflows.
- The funding will be used for US expansion and product innovation focusing on Multi-agentic AI, a powerful modeling engine, a robust data layer, and collaborative workflows to empower finance teams and drive performance.
- Abacum's business planning platform aims to simplify finance operations, save time, enable confident planning, and facilitate better decision-making by combining simplicity with enterprise-grade flexibility.
- As pioneers of Vertical AI, Abacum is committed to transforming the role of CFOs into strategic growth engines through data, automation, and intelligence, while achieving sustainable scaling for customers.
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AllTopStartups
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Drug Testing Services for Festival Staff: Ensuring Public Safety
- Drug testing services play a significant role in ensuring public safety at festivals, where staff members are responsible for maintaining order and responding to emergencies.
- Ensuring that festival staff are substance-free through drug testing helps in preventing mishaps and ensuring efficient responses during chaotic situations.
- Drug testing acts as a preventive measure, similar to 'helicopter parenting,' by proactively ensuring staff members are fit to handle their duties and maintain a safe environment.
- An integrative approach to drug testing, combining various methods and training programs, enhances safety measures at festivals and promotes a culture of responsibility.
- Implementing drug testing services involves researching reputable providers, communicating the importance of testing to staff, and emphasizing its role in ensuring public safety.
- Drug testing not only enhances immediate safety but also conveys a message of professionalism and accountability, ultimately improving the overall festival experience for attendees.
- By prioritizing drug testing services for festival staff, organizers demonstrate a commitment to creating a secure and enjoyable environment for all attendees.
- Integrating drug testing into festival planning fosters a culture of safety, trust, and professionalism, setting a standard for the industry and ensuring a safer festival experience.
- As festivals evolve, it becomes crucial to adapt safety measures like drug testing to uphold the responsibility owed to attendees and create a secure environment for all participants.
- In the intricate tapestry of a festival experience, drug testing services serve as a vital thread that contributes to the cohesion, safety, and enjoyment of the event.
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Inc42
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Leumas Nets $2.2 Mn To Build Robot Factories For Pharma & Wellness Sectors
- Leumas, a Deeptech manufacturing startup, raised $2.2 Mn in a seed funding round led by Capital 2B for building software-driven robotic factories for the pharma and wellness sectors.
- The Bengaluru-based startup aims to strengthen R&D and expand modular manufacturing infrastructure with the fresh capital received.
- Founded in 2016, Leumas offers on-demand manufacturing and dedicated production suites to provide brands access to flexible, modular, and intelligent production lines without the need to manage traditional factory setups.
- The company has raised a total of $3.12 Mn to date and plans to tap into a $100 Bn opportunity by providing factory-as-a-service and on-demand manufacturing models for wellness and pharma brands.
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SiliconCanals
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After 400 nights on trains, YouTuber Thibault Constant launches European sleeper rival ‘Nox Mobility’
- Thibault Constant, the popular YouTuber behind Simply Railway, has launched his own night train company, Nox Mobility, after spending 400 nights on trains and experiencing the limitations of existing services.
- Nox Mobility plans to operate Europe-wide overnight trains from 2027, offering fully private rooms for one or two passengers at prices comparable to airfares.
- The company aims to provide a more comfortable and private night train experience with affordable fares, spacious design, and strict focus on standardization and operational excellence.
- Nox Mobility offers three room categories - Single and Double Loft rooms with upper beds, and Double Vista rooms featuring low-floor beds, starting at €79 for single rooms and €149 for double rooms.
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ISN
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Pune's construction-tech firm Knest raises Rs 300 crore to deepen its R&D efforts
- Lighthouse Funds has invested Rs 300 crore in Knest, a Pune-based construction technology firm specializing in next-generation building systems.
- Knest provides construction technologies that accelerate project delivery, enhance worker safety, and reduce environmental impact.
- The funding will be used by Knest to deepen its R&D efforts, expand manufacturing capabilities, and integrate backwards for quality and scale.
- Knest aims to push the boundaries of construction technology in India with a focus on sustainability, safety, and speed.
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