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Startup News
ISN
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Indian startups raised over $186 million from Oct 21 to Oct 26, 2024; upGrad tops the list
- Between October 21 and October 26, 2024, Indian startups raised $186.23 million in funding.
- Edtech startup upGrad raised $60 million, leading the funding in the sector.
- Other notable funding rounds include Neysa ($30 million), Even Healthcare ($30 million), Stellapps Technologies ($26 million), and Healthify ($20 million).
- Strategic mergers and acquisitions took place, including Bizom acquiring Rhythm 2.0 Sales Route Optimiser.
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Pymnts
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Nasdaq CEO Expects IPOs to Pick Up Steam in 2025
- Nasdaq CEO, Adena Friedman, expects IPOs to regain their momentum next year.
- While the public markets have seen a banner year, not every company is benefiting, especially those with smaller valuations.
- Late-stage companies are not fully ready for an IPO due to high interest rates and a desire for strong performance before going public.
- Regulations and increasing expenses have also caused the number of IPOs to decline.
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Medium
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How I Used AI to Build a Proof of Concept Without Knowing How to Code (And How You Can Do It Too)
- The author wants to create an AI-based system that offers targeted feedback during virtual meetings & presentations, but has no coding experience.
- The author collaborated with Anthropic's AI assistant, Claude, to create a concept without learning how to code.
- Claude helped the author design the system architecture, suggested existing platforms for integration, & recommended coding platforms.
- The author faced challenges while setting up, but Claude became more prescriptive and offered step-by-step guidance.
- The author ran the code on GitHub & tested the product, which analysed speech patterns, facial expressions, sentiment, confidence, & identified strengths and weaknesses.
- The author is building additional functionality while Claude continues to suggest next steps and help with development.
- Using AI systems to build products is the new reality, enabling even non-technical founders to bring their ideas to life.
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Economic Times
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Early-stage venture capital firm First Cheque to invest in 15-20 startups
- Early-stage venture capital firm First Cheque will invest in 15-20 startups over the next 18 months from its third cohort.
- The firm aims to invest up to $500,000 for pre-seed and direct-to-consumer (D2C) startups.
- First Cheque's limited partners largely comprise family offices and institutions globally.
- The firm follows a sector-agnostic investment strategy but specifically focuses on backing D2C startups for the next 18 months.
- First Cheque partner, Kanika Agarrwal, said they aim to find differentiated brands in categories that are completely empty.
- The firm has invested in 130 startups, including companies like jewellery brand Giva, software-as-a-service (SaaS) startup Rocketlane, and fleet management platform Fleetx.
- In July 2022, First Cheque had closed its second fund at Rs 38 crore.
- The firm is interested in finding great kids' brands, brands in sports and white goods, a whole bunch of Gen Z brands, and passionate founders.
- First Cheque partner, Gagan Goyal, wants to back founders turning chaos into order, or those replacing everyday items or even building something the world hasn’t seen yet.
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Medium
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Increase productivity
- Do tasks that require intense attention during your most mentally fit time of the day.
- Take short naps instead of relying on caffeine to combat fatigue.
- Address physical needs, such as sleep and hunger, in a timely manner for optimal productivity.
- Plan your day to allocate time for focused studying and concentration.
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Yourstory
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Inside the green jobs market; ElasticRun’s growth plan for FY25
- Food delivery giant, Swiggy, is said to have revised its IPO valuation by 25% to $11.3bn due to market volatility and the poor debut of Hyundai in India. BlackRock and Canada Pension Plan Investment Board will invest in the $1.4 billion IPO set to be the second-biggest stock offering in India this year. Whilst India’s foreign fund outflows recently reached record highs at $10.2bn due to elevated equity prices, the gap between demand and the availability of green talent is rapidly growing. By 2050 twice as many jobs will require green skills than there will be qualified candidates.
- Green jobs are roles that contribute to environmental sustainability such as water, e-waste and hydrogen management, renewable energy, green building and electric vehicles. Indian B2B logistics company ElasticRun, backed by Prosus and SoftBank, aims to boost its quick commerce business to shore up its revenue. The Pune-based firm recently pared losses by nearly 42% to Rs 354.62 crore as it pivoted to high-margin regional brands.
- The demand for green talent is leading to greater interest in upskilling courses that combine digital competencies like AI, data analytics, and project management.
- Swiggy’s IPO will be $11.3 billion, 25% below the initial goal of $15 billion, with BlackRock and Canada Pension Plan as investors. Google is developing AI to take over a web browser to complete tasks, and will demonstrate it with the release of Gemini LLM in Dec.
- ElasticRun revealed its new growth plan for FY25 and will focus on scaling regional brands, boosting revenue and monetising its SaaS offering for delivery. Apple received just $250 in its lawsuit against Masimo smartwatches infringing its patents. Taiwan Semiconductor suspended shipments to Chinese chip designer Sophgo after a chip it made was found on a Huawei process.
- Indian bourses entered the bear market amid weak global cues and rising volatility. The NSE Nifty 50 fell 2.7% last week and the BSE Sensex dropped 2.2%, logging losses for the fourth week. The Telangana Department launched the Green Skills Academy in Hyderabad in partnership with 1M1B (One Million for One Billion). Mammoth Cave in Mammoth Cave National Park in central Kentucky is the world's longest cave system.
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StartupDaily
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NSW is looking to make e-scooters legal on its roads
- The NSW government is considering legalizing the use of e-scooters on the state's roads.
- The new E-micromobility Action Plan includes 58 recommendations, including exploring options for the legal use of e-scooters on streets and roads.
- The plan also calls for new safety standards for the sale of lithium-ion batteries and e-micromobility devices.
- The Pedestrian Council of Australia wants e-scooters banned in NSW, while the Victorian government plans to legalize their use with new rules and penalties.
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Medium
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Student Spotlight: Featuring NUS MSVC Student, Anthony
- Anthony, a student of NUS MSVC, recounts his experience so far in the programme.
- Anthony joined the programme to learn not only about business strategies but to also network with students from different countries.
- He discovered the MSVC scholarship while applying to NUS and it has helped him focus on developing his entrepreneurial skills.
- The programme has enabled Anthony to take a more holistic approach to problem-solving as it brings to his attention the many factors that contribute to business success, not just the product design.
- Anthony has had the opportunity to interact with international companies and use these exchanges to broaden his knowledge of their respective business models.
- Anthony looks forward to the GRIP Venture Creation Practicum course offered in the second semester as it offers hands-on experience with real-world business practices.
- The programme is comprehensive, and it offers an experiential curriculum that is especially useful for individuals interested in entrepreneurship.
- Anthony identifies with the word evolution to describe his journey in the programme.
- The MSVC scholarship has been instrumental in easing financial concerns, allowing Anthony to learn and focus on engaging with inspiring individuals.
- Anthony is open to connecting with like-minded individuals interested in starting a business together in Singapore.
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Yourstory
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Collaboration is the key for India to lead in the global GenAI landscape
- Collaboration is essential for innovation in the technology industry, and the Indian tech landscape is not sufficiently collaborative.
- Initiatives such as 'Make in India' and the 'India AI Mission' are crucial towards promoting collaboration and creating a culture of innovation.
- Partnerships between academic and research institutions can provide crucial support in securing patents and advancing innovations in the country.
- Collaborations across sectors create an environment where innovation is not just welcomed but becomes an intrinsic part of the corporate DNA.
- The synergy between startups, established companies, academic institutions, and researchers can lead to the convergence of technologies, giving rise to solutions that might have struggled to gain traction in isolated environments.
- Industry-university collaboration fosters talent development and creates a culture of excellence and prepares the next generation of professionals for industry challenges.
- Effective communication, establishment of trust through clear agreements, and a shared vision are crucial elements in ensuring that collaborative efforts yield positive results.
- Partnerships between corporates and startups in India have grown in recent years, including hand-holding, mentoring and even knowledge exchange.
- Collaborative efforts between startups, enterprises and academia will mould the future of tech industries by blending creativity, communication and shared commitment.
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Medium
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Unlock Success: The Best Budget-Friendly Project Management Software for Startups
- OpenProject is recommended as the best budget-friendly project management software for startups.
- To install OpenProject, a virtual machine server with at least 4GB RAM and 2 CPU cores is required.
- The preferred operating system for installation is Ubuntu, specifically Ubuntu 22.04 LTS.
- OpenProject offers features such as Scrum templates and is accessible from mobile devices.
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Yourstory
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Crorepati brands and quick commerce to propel ElasticRun’s growth in FY25
- ElasticRun is scaling up regional brands and its quick commerce business to shore up its revenue, with the focus on operational profitability by October 2024.
- ElasticRun offers B2B distribution and logistics to kirana stores and runs its own third-party logistics service while partnering with delivery personnel.
- The firm reported losses reduced by 42% to INR354.62 crore ($47m) on a standalone basis and revenue from operations decreased by nearly 48.6% for FY24.
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Economic Times
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Atomberg’s revenue rises 31% to Rs 848 crore
- Consumer appliances maker Atomberg Technologies reported a 31.4% increase in operational revenue to Rs 848 crore, but its net loss widened about 46.3% to Rs 202 crore during this period.
- Losses increased over the past two financial years due to fresh employee stock ownership plan (ESOP) grants, management bonuses and fundraising expenses.
- The operational earnings before interest, taxes, depreciation and amortisation (Ebitda) improved to a loss of Rs 22 crore in 2023-24 from a loss of Rs 49 crore in the previous year.
- Atomberg aims to reach operational profitability by the end of this fiscal.
- Currently, 70% of Atomberg’s revenue comes from offline channels, with the remaining 30% from online channels.
- In 2023-24, it generated Rs 841 crore from its fan business, with the remaining Rs 7 crore contributed by the mixer grinder and smart lock segments.
- Atomberg is also preparing to enter new product segments over the next 12-18 months, including water purifiers and other kitchen appliances.
- It may consider a secondary transactions-led funding round next year to provide exits to existing investors.
- Atomberg has raised a total of $128 million to date.
- the company went live on Zomato-owned Blinkit earlier this year and views quick commerce as a significant driver for its fan business in the future, especially during summer months.
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Medium
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AI-Driven Lead Generation: Transforming B2B Marketing for the Modern Era
- AI-driven lead generation is revolutionizing B2B marketing by automating tasks, analyzing data, and personalizing experiences.
- AI tools help segment audiences, analyze behaviors, and predict potential leads for more targeted messaging.
- Case studies have shown that AI can significantly increase conversion rates and decrease acquisition costs.
- While challenges exist, embracing AI in lead generation offers a competitive edge and paves the way for future success.
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TechBullion
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The Evolution of Boston as a Global Tech Powerhouse
- Boston has transformed into a vibrant tech powerhouse, attracting entrepreneurs, investors, and talent from around the world.
- Universities played a crucial role in the city’s tech scene since the 1960s with MIT and Harvard attracting brilliant minds in artificial intelligence and software engineering.
- The convergence of academia and industry created a unique ecosystem ripe for technological advancement.
- Boston’s tech scene is diverse, boasting a mix of established giants and innovative startups, such as HubSpot and Akamai Technologies.
- Boston boasts an ideal location along the Northeast Corridor, making it accessible for talent and investment.
- The presence of top-tier universities like MIT and Harvard is a key factor along with a diverse economy that supports various sectors.
- The emphasis on entrepreneurship is encouraged by hackathons and pitch competitions.
- Local authorities create programs that foster innovation, grants, funding opportunities, and tax incentives.
- Boston’s tech landscape benefits significantly from government support.
- Remote work has changed the way companies operate, creating new opportunities for startups that embrace flexible models.
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Startupnation
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Brand Strategy: What It Is and How It Defines Your Marketing Plan
- A brand strategy is a long-term plan to help businesses showcase their uniqueness and connect with their audience. It covers logos, mission, values and voice among other elements.
- A strong brand strategy has numerous benefits including highlighting unique value proposition, building trust and brand loyalty and standing out from competition, among others.
- Key points that contribute to a successful brand strategy are clear brand purpose and values, understanding target audiences, unique value proposition, consistent messaging and visual identity.
- A brand strategy is considered the base of a successful marketing plan and provides direction for engagement and customer trust over time.
- Aligned goals, consistent messaging, connection to the target audience, brand positioning, diverse marketing channels and engaging content are some of the elements that define and improve marketing campaigns.
- A solid brand strategy shapes how customers perceive a business and helps build recognition and loyalty over time.
- Successful brands like Apple and Coca-Cola have done this with their brand and marketing strategies over time.
- Data-driven decisions and regular adjustments to a brand strategy are important to keep up with changing audience goals and needs and ensure a brand stays competitive.
- A good brand strategy is integral to small businesses in scaling and becoming well-established companies and organizations.
- So, having an effective brand strategy is important for every business as it helps define its marketing plan and the way it is perceived by its customers.
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