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Inc42
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Rapido To Raise INR 125 Cr From Nexus As It Gears Up For Food Delivery Launch
- Rapido is raising INR 125 Cr from Nexus Venture Partners to launch its food delivery service 'Ownly'.
- The funding is part of Rapido's ongoing Series E round and follows a previous round where it raised $200 Mn.
- Rapido initially provided bike-taxi services and later expanded to auto-rickshaws and cabs, aiming to disrupt the transportation sector in India.
- Rapido's food delivery service 'Ownly' plans to charge zero commissions from restaurants, aiming to compete with Zomato and Swiggy by offering transparent pricing to customers.
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Startup Pedia
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Ritesh Agarwal invites people to give new name for OYO parent firm, announces ₹3 lakh for the winner
- OYO founder Ritesh Agarwal launches a campaign to rename the company's parent firm, Oravel Stays, as part of IPO preparation.
- Agarwal invites suggestions for a new name, offering ₹3 lakh to the winner; highlights criteria including global appeal and tech-forward feel.
- The new name is envisioned to be bold, one-word, not culture-specific, and with a .com domain available.
- The chosen name may also be used for the premium hotels app OYO is planning to launch; company gearing up for IPO in Q4 of current fiscal year.
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ISN
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Mattress brand Wakefit converts into public entity as it prepares for IPO launch: Report
- Bengaluru-based home and sleep solutions brand Wakefit has become a public entity in preparation for its upcoming IPO launch.
- The company changed its legal name to Wakefit Innovations Limited, a necessary step before listing on Indian stock exchanges.
- Wakefit, founded in 2016, started as a D2C mattress startup and has since diversified into offering various home products.
- The company is planning to raise between Rs 1,500 crore to Rs 2,000 crore (approximately $180–240 million) through the IPO and has appointed five independent directors to its board.
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TechCrunch
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XRobotics’ countertop robots are cooking up 25,000 pizzas a month
- XRobotics has developed a countertop robot named xPizza Cube that applies sauce, cheese, and toppings to pizza dough using machine learning, capable of making 100 pizzas per hour.
- The robot, available for lease at $1,300 a month for three years, aims to assist existing pizza makers by saving time and labor, rather than fully transforming the pizza-making process.
- XRobotics has successfully kept their device small and affordable, allowing pizzerias of all sizes to incorporate this technology, with the robots producing 25,000 pizzas per month.
- The company recently raised a $2.5 million seed round led by FinSight Ventures, and plans to expand its presence in the pizza industry to Mexico and Canada, targeting the market of over 73,000 pizza chains in the U.S.
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ISN
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EaseMyTrip launches EMT Invest to back profitable, founder-led businesses with strategic capital
- EaseMyTrip has launched EMT Invest, a strategic investment arm targeting profitable, founder-led businesses for minority stakes and strategic capital.
- EMT Invest focuses on companies with at least Rs 5 crore annual profit before tax, strong unit economics, and founder-led operational control.
- EaseMyTrip plans to offer growth capital with minimal operational interference, leveraging its large user base, digital infrastructure, and marketing expertise.
- EMT Invest aims to be a strategic growth partner preparing businesses for future milestones like IPOs within three to five years, with investment terms to be finalized based on mutual agreement and regulatory compliance.
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Medium
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353
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Why Billion-Dollar Companies Say “NO” to Million-Dollar Ideas (And How They Choose What to Build…
- Focus on solving problems that align with your core mission and values.
- Understand the journey of a product from introduction to decline in popularity.
- Follow a 6-step process: Plan, Build, Launch, Count users, Learn, Improve.
- Stay laser-focused on your 'true WHY' to achieve success and differentiate from competitors.
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Inc42
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Centre Approves Micron’s INR 13K Cr Semiconductor SEZ In Gujarat
- The Centre has approved the proposals of Micron Semiconductor and Aequs to set up SEZs for manufacturing semiconductors and electronic components.
- Micron will invest INR 13,000 Cr in Gujarat’s Sanand for a semiconductor manufacturing facility, while Aequs will invest INR 100 Cr in Karnataka’s Dharwad for electronic components.
- Amendments in SEZ Rules, 2006 have been made to promote semiconductor manufacturing, allowing SEZ set up on mortgaged or leased land, including free-of-cost goods in NFE calculations, and allowing domestic supply from SEZ units.
- The industry has welcomed the move, with expectations of boosting semiconductor manufacturing ecosystem in India and creating tech-oriented job roles.
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Startup Story
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Vecmocon Raises $18 Million in Series A Funding to Drive Next-Gen EV Intelligence and Clean Mobility
- Vecmocon Technologies, a deep-tech startup focusing on vehicle intelligence for electric mobility, secures $18 million in Series A funding led by Ecosystem Integrity Fund (EIF).
- Vecmocon, founded in 2016, aims to accelerate India's transition to clean and connected mobility by developing software and electronic systems tailored for electric vehicles.
- The funding will be utilized to expand market presence, enhance R&D capabilities, and support team growth in embedded systems, power electronics, IoT, and data science.
- Vecmocon's solutions power over 100,000 electric vehicles in India and the company plans to broaden its offerings to include high-voltage vehicles and energy storage systems for global markets.
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Alleywatch
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myLaurel Raises $12M to Scale Hospital-at-Home Services for Complex Patients
- myLaurel has raised $12 million in funding to accelerate its hospital-at-home services for complex patients, aiming to address the growing challenges in the healthcare system such as hospital bed shortages and increasing medical needs of the aging population.
- The company provides acute and transitional care directly to patients' homes, leading to significant outcomes including 33% lower ED utilization, 49% fewer readmissions, and saving 3,000+ bed days per hospital annually.
- myLaurel offers three core care models – Rapid Advanced Care, Acute Care at Home, and Recovery at Home – to cater to the needs of frail, elderly, and medically complex patients, transforming the traditional care path.
- Key investors in myLaurel's funding round include Deerfield, GV, Emerson Collective, Ochsner Ventures, Pinta Partners, and management, bringing the total funding raised to $119.4 million.
- The company's business model focuses on delivering on-demand acute and transitional care at home, partnering with health systems, provider groups, and payers to improve outcomes, reduce hospitalizations, and enhance patient experience.
- The inspiration behind myLaurel stems from the personal experience of CEO Juan Vallarino, seeking a better way to care for patients after witnessing his father's frequent emergency department visits.
- myLaurel differentiates itself as a technology-enabled mobile medical group, providing in-home care with skilled clinicians, remote physicians, and nurses, while putting fees at risk to ensure outcomes and ROI for clients.
- The company targets health systems and risk-bearing organizations, offering services that aim to reduce costs, improve efficiency, and shift care from hospitals to the home, aligning incentives through bundled payment models.
- In the next six months, myLaurel aims to drive increased patient volume, deepen partnerships, expand to new markets, and build a strong clinical team to support scalable care, paving the way for national expansion.
- With an emphasis on efficiency, delivering measurable value, and driving real outcomes, myLaurel's innovative approach to healthcare delivery positions it for continued growth and success in the near term.
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Dev
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Revolutionize Onboarding with PLG OS
- PLG OS is an advanced operating system aimed at enhancing onboarding experiences for product-led growth teams.
- It provides insights into user onboarding progression, allowing teams to identify drop-off points and optimize the journey.
- PLG OS offers A/B testing capabilities for in-app elements to determine the most effective onboarding approach for better engagement.
- The platform enables personalized onboarding journeys for different user personas, increasing the likelihood of converting users into loyal customers.
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Startup Story
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Sanlayan Technologies Raises ₹186 Crore in Series A to Scale Indigenous Defence Tech
- Sanlayan Technologies raises ₹186 crore in Series A funding round to advance indigenous aerospace and defence technologies.
- The funding round was led by investors like Ashish Kacholia, Lashit Sanghvi, Jungle Ventures, and existing backers Gemba Capital, Singularity Ventures, and Shastra VC.
- Sanlayan is focused on developing advanced electronic systems for aerospace and defence, including radar, electronic warfare systems, and mission-critical avionics.
- The company plans to expand its engineering workforce, strengthen capabilities, and contribute significantly to India's defence self-reliance ambitions.
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Startup Story
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OYO Parent Oravel Stays Invites Public to Help Rename Company Ahead of IPO, Offers ₹3 Lakh Prize
- Oravel Stays, the parent company of OYO, is seeking a new name before its IPO, with a ₹3 lakh prize for the chosen suggestion.
- The renaming is for the corporate entity, not the OYO hotel brand, aiming for a bold, globally relevant, and tech-forward name.
- The company is looking for a one-word name that is scalable beyond hospitality, and potentially for a new OYO app in development.
- The rebranding is part of OYO's strategy ahead of its IPO in FY25, with the company recently reporting profitability milestones and growth in the hotel segment.
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ISN
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Your baby’s skincare might be doing more harm than good. This dermatologist-founded startup is fixing that
- EDA Baby & Child, a dermatology-led skincare startup in India, aims to revolutionize how parents think about baby skincare by addressing the specific needs of Indian skin, water, and climate.
- Founded by Dr. Sonali Kohli, a board-certified dermatologist, and her husband Rohan Rai, EDA focuses on building India's first clinically validated child wellness ecosystem.
- Indian babies have unique skin characteristics, with a thinner barrier that is more susceptible to pollutants and pH imbalances, necessitating tailored skincare solutions.
- EDA's products are formulated after extensive research on Indian skin reactions and micro-climates, providing ceramide-rich and pH-balanced solutions designed for Indian conditions.
- The brand's AM-PM skincare regimen respects the skin's circadian rhythm and each product undergoes thorough testing for reactivity, moisture retention, and barrier performance.
- EDA's sustainable packaging, including smart dosage pumps to reduce product waste and skin irritation, has helped build trust with customers and differentiate the brand in the market.
- The startup's omni-channel model combines clinical credibility with scalable logistics, leading to rapid expansion offline and online since its launch.
- EDA targets educated and quality-conscious Indian parents who prioritize safety and efficacy, offering products that are 4x more concentrated and come at a relatively higher price point.
- Beyond skincare, EDA plans to expand into oral hygiene, supplements, and teenage skincare while maintaining a focus on medical science, sustainability, and transparency.
- Investing in QR-based traceability, EDA aims to provide parents with information on product quality, expiry, and environmental impact, setting a new benchmark in the Indian baby care market.
- By combining love and care with scientific expertise, EDA Baby & Child is reshaping the Indian baby care industry with a focus on efficacy, safety, and local relevance.
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Inc42
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Exclusive: AI-Led Fintech Startup AbleCredit In Talks To Raise $5 Mn
- AI-led fintech startup AbleCredit is in talks to raise $5 Mn in its Series A funding round.
- The funding round will be led by a top Indian VC firm and existing investors Merak Venture and Venture Catalysts will also participate in the Series A round.
- AbleCredit plans to use the fresh funds to further improve its credit underwriting model.
- Founded in 2023, AbleCredit provides an AI copilot for lending workflows and last raised $1.25 Mn in its seed funding round in May 2024.
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Medium
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HardTech Reads: The AI & Robotics Revolution vol.34
- 1930s Japan's steel humanoid robot resurfaces in history books, while Waymo expands to San Jose, Houston, and more cities.
- U.S. factory output decreases for the 3rd consecutive month, posing a potential risk of recession.
- China's rare earth export freeze disrupts global EV production lines, impacting industries like robotics and defense.
- The Congressional Robotics Caucus reemerges in Washington to drive U.S. competitiveness and focus on ethics, education, and R&D.
- Amazon tests humanoid robots for package delivery, aiming to revolutionize the delivery industry.
- Walmart and Wing collaborate to launch drone delivery services in over 100 U.S. stores, marking a significant scaling phase.
- Various AI and robotics companies secure substantial funding to advance technologies in construction, marine autonomy, and workforce tools.
- Impulse Space secures $300M Series C for in-space mobility, while Walmart and Wing expand drone delivery services across U.S. stores.
- The HardTech Jobs Board highlights job opportunities in companies like Figure, SpaceX, Boston Dynamics, and more.
- Upcoming events in the AI and robotics sector include tech summits, hackathons, and conferences worldwide.
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