A naukri.com initiative
Startup News
ISN
1M
586
Image Credit: ISN
Xpressbees hires Tarun Agarwal as Vice President – B2C First Mile
- Xpressbees appoints Tarun Agarwal as Vice President – B2C First Mile, bringing over 31 years of experience in operations, logistics, and e-commerce.
- Tarun Agarwal joins from Ecom Express, where he enhanced first-mile capabilities and sortation infrastructure, improving efficiency and reducing losses.
- His career includes leadership roles at Aramex India, Delhivery, Snapdeal, and Blue Dart Express, earning industry-wide recognition for team-building and process implementation.
- Rahul Agarwal, COO of Xpressbees, expresses excitement about Tarun's addition, citing his operational knowledge as crucial for strengthening first-mile operations and supporting B2C growth.
Read Full Article
16 Likes
Startup Story
1M
87
Image Credit: Startup Story
Nazara Technologies Acquires Sachin Tendulkar-Backed Smaaash for ₹126 Crore
- Mumbai-based Nazara Technologies acquires Smaaash Entertainment Pvt. Ltd. for ₹126 crore, with the acquisition completed under the Insolvency and Bankruptcy Code (IBC).
- Nazara infused ₹10 crore in equity and extended an unsecured inter-corporate loan of ₹116 crore to settle creditor dues as part of the acquisition deal approved by the NCLT.
- The transaction gives Nazara complete ownership of Smaaash's location-based entertainment assets and an option to convert the loan into equity in the future, aligning with Nazara's aim to enhance its gaming ecosystem.
- Smaaash, known for blending virtual reality and interactive sports, faced financial stress and entered insolvency proceedings in 2022 due to pandemic disruptions and a debt burden, with creditors' claims totaling ₹426.3 crore.
Read Full Article
5 Likes
Inc42
1M
317
Image Credit: Inc42
Shein, Reliance Plan Sale Of India-Made Clothes Globally Within Year: Report
- Shein and Reliance Retail plan to expand Indian manufacturing network and start global sales of India-made Shein-branded clothes within 6-12 months.
- Shein aims to increase Indian suppliers to 1,000 from the current count of 150, as it sells offerings through 7,000 Chinese suppliers to over 150 countries.
- The move comes amidst US tariff concerns on China, with Shein re-entering India through a partnership with Reliance Retail after facing a ban in 2020.
- Reliance aims to capitalize on the growing fast fashion market in India, with Shein piloting its app in New Delhi and Mumbai.
Read Full Article
18 Likes
ISN
1M
185
Image Credit: ISN
AI-powered interior discovery platform Roomstory.ai raises Rs 3 crore in funding
- Roomstory.ai, an AI-powered interior discovery platform, has raised Rs 3 crore in funding led by Rukam Sitara Fund.
- The startup plans to use the capital to enhance its AI capabilities, launch its website and mobile application, and expand its user base.
- Roomstory.ai was founded by Ekatva Jain, Sahil Lunia, and Punit Jain, focusing on inspiration-first commerce in interior design.
- The global home and interior shopping market is valued at over $800 billion, with India's interior design sector expected to reach $38.2 billion by 2027.
Read Full Article
10 Likes
Economic Times
1M
279
Image Credit: Economic Times
Vecmocon Technologies raises over $18 million in Series A round
- Vecmocon Technologies has raised over $18 million in a Series A funding round anchored by EIF, with participation from Aavishkaar Capital, BII, and Blume Ventures.
- The investment will help the company expand market presence, enhance capabilities in embedded design, power electronics, IoT, and data science, and power over 1 lakh vehicles on roads.
- The funding will also support team expansion, R&D infrastructure establishment for the electric-automotive sector, and global ambitions of the company.
- CEO Peeyush Asati stated that the capital infusion will enable the engineering of high-performance, safety-critical systems for Indian and global deployment in electric vehicles and clean energy systems.
Read Full Article
16 Likes
Insider
1M
412
Image Credit: Insider
VC's new favorite guessing game: Who is Arfur Rock, the 'Gossip Girl of Silicon Valley?'
- VCs in Silicon Valley are intrigued by the anonymous X account 'Arfur Rock' that shares insider information and gossip about tech industry deals.
- Arfur Rock operates anonymously, aiming to bring transparency to tech by leaking positive, unannounced details like funding rounds and revenue numbers.
- With over 23,000 followers, the account is likened to the 'Gossip Girl of Silicon Valley' and generates speculation about the identity of the person behind it.
- Venture capitalists appreciate the detailed information shared by Arfur Rock, even though the account remains secretive about its source and motives.
- Despite the intrigue, most VCs decline to guess Arfur Rock's identity, with theories ranging from a junior associate to a Bay Area growth firm member.
- The account circumvents restrictions on startups publicizing funding rounds, attracting both praise for sharing insights and concerns about disrupting companies' publicity strategies.
- Rock assures that the leaked information is already known within select circles, remains positive, and respects non-disclosure agreements.
- While some commend the transparency facilitated by Arfur Rock, others question the lack of accountability and potential impact on startups' publicity plans.
- The account's anonymity has sparked debates on whether the leaks truly serve the public interest and raised doubts about the reliability and motives behind the shared information.
- For Arfur Rock, anonymity is a deliberate choice to encourage open sharing of ideas and insights without biases, emphasizing the allure of mystery in the tech ecosystem.
Read Full Article
24 Likes
Inc42
1M
372
Image Credit: Inc42
Wakefit Converts Into Public Entity In Run-Up To IPO
- Bengaluru-based D2C furniture and mattress startup Wakefit has converted into a public company in preparation for an IPO.
- Wakefit aims to raise around INR 1,500-2,000 Cr through the IPO and has appointed three investment bankers for the process.
- The startup has also appointed five independent directors and plans to submit its draft papers for the IPO in the upcoming months.
- In the financial year ending March 31, 2024, Wakefit reduced its net loss by 90% and reported a rise in revenues, with plans to provide some early backers an exit.
Read Full Article
22 Likes
Inc42
1M
312
Image Credit: Inc42
Can EtherealX Become India’s SpaceX With Its Fully Reusable Rocket?
- EtherealX aims to become India's SpaceX by developing fully reusable rockets after learning from Falcon 9 failures.
- The startup plans to launch its first commercial rocket in 2027 targeting a share of the growing $44 billion Indian spacetech market.
- EtherealX was founded by Manu Nair, Shubhayu Sardar, and Prashanth Sharma, who identified the need for resilient launch infrastructure.
- The startup focuses on reusability, inspired by NASA's Space Shuttle program and SpaceX's progress with Falcon 9 rockets.
- EtherealX has conducted private tests of its launch vehicle engine and signed an agreement with In-Space for further testing with ISRO.
- The company raised $5 million in a seed round to continue testing its fully reusable launch vehicle.
- EtherealX has developed re-entry algorithms and a rocket engine feed cycle to enhance reusability and collect real-time data for improvement.
- With a $130 million order book from global satellite operators, EtherealX aims to charge $350-$2,000 per kg for its services.
- The startup plans to complete its test facility in Tamil Nadu and conduct upper stage cycle testing in the following year.
- EtherealX faces challenges in ensuring the safe recovery of the upper stage, a critical factor for its business model and profitability.
Read Full Article
18 Likes
SiliconCanals
1M
90
Image Credit: SiliconCanals
London’s Definely lands €26.2M to decode legalese with AI and expand to the US
- London-based Definely, an AI-powered legal tech company, has raised €26.2M in Series B funding led by Revaia.
- Major institutions like the European Investment Fund support growth-stage companies like Definely through Revaia.
- The funding will be used to accelerate global expansion, develop AI product roadmap, and enhance legal workflows.
- Definely, with over 100 in-house legal teams and private practice firms as customers, aims for sustainable growth and success in new markets.
Read Full Article
5 Likes
Dev
1M
10.3k
Image Credit: Dev
This IIT-Backed Startup Can Run Llama 2 on CPUs… No Need GPUs to Run AI Anymore..
- Kompact AI, a startup, claims to run models like T5 and Bloom-7B on CPUs without requiring GPUs, offering something called ICAN to support 10+ programming languages efficiently.
- AI, relying on massive matrix computations, typically demands specialized hardware like GPUs for training and inference processes.
- Kompact AI differentiates itself by enabling heavy AI models to run on CPUs and addresses the challenges of computational requirements, hardware capabilities, and software optimization effectively.
- This is achieved through strategies like model optimization, leveraging CPU strengths such as multi-core processing and SIMD, and utilizing optimized runtime environments tailored for CPUs.
- Kompact AI potentially simplifies AI tasks on CPUs by focusing on lightweight operations like inference and fine-tuning, making large models manageable without GPU-like parallelism.
- The combination of model optimization, parallel processing, SIMD instructions, and customized runtime allows Kompact AI to achieve up to 3x the performance of traditional CPU execution.
- The innovative approach of Kompact AI in restructuring AI models and executions could potentially democratize AI by making it more accessible for offline and edge devices without the need for GPUs.
- Kompact AI's reinvention of AI solutions for CPUs through quantization, pruning, and efficient parallelism positions it as a potential game-changer in the field of AI.
- Could Kompact AI's advancements in running large AI models like Bloom-7B on CPUs mark a significant shift in the application of AI technologies?
Read Full Article
66 Likes
ISN
1M
408
Image Credit: ISN
Defence electronics startup Sanlayan raises Rs 186 crore to accelerate indigenous tech development
- Sanlayan Technologies, a defence electronics startup, has raised Rs 186 crore in a Series A funding round led by investors like Ashish Kacholia, Lashit Sanghvi, and Jungle Ventures.
- The company previously raised Rs 36 crore in March 2024 and acquired a majority stake in Dexcel Electronics, known for contributing to programs like Jaguar, Sukhoi, LCA Tejas, and Chandrayaan-3.
- Sanlayan is developing AESA Radar systems for India's UUV program and has partnerships with Indian startups and foreign OEMs for advanced solutions.
- The startup plans to expand its engineering team, invest in critical technologies for CUAS and EW systems, and focus on indigenous capability development in India's defence sector.
Read Full Article
24 Likes
Inc42
1M
394
Image Credit: Inc42
Uri To Sindoor: How Tonbo Imaging Helped Forces With Warfront Intel
- Intelligence plays a crucial role in warfare, as exemplified by ventures like Tonbo Imaging which focus on using advanced technology for precision and minimizing collateral damage.
- After Operation Sindoor, Indian defence tech's significance in military effectiveness was highlighted through precise targeting and reduced collateral damage measures.
- Tonbo Imaging, led by Arvind Lakshmikumar, aims to support countries in battles using intelligence to save lives and assets.
- The company's strategic approach, including thermal imaging kits for air defense guns, aided in operations like the Uri surgical strike and Operation Sindoor.
- Tonbo Imaging, a leader in defence technologies, supplies advanced imaging and sensor systems to global entities like NATO, US Navy SEALs, and Israeli Defense Forces.
- The company maintains strict protocols on data security while selling products globally, adhering to SCOMET approvals by the Indian defense ministry.
- With the growth of defense tech startups in India, Tonbo's revenue spiked, hitting over INR 400 Cr in FY25 with substantial profit margins.
- The company, preparing for a public offering, has a significant part of its revenue from exports, aligning with India's push for indigenous defense production.
- Tonbo Imaging's journey from inception to global success underscores its focus on autonomy in warfare technology, particularly in areas like thermal imaging and directed energy systems.
- The startup's plans for IPO, investment in next-gen technology like Directed Energy Systems, and addressing the drone warfare market indicate a strategic pivot towards future defense capabilities.
Read Full Article
23 Likes
Inc42
1M
45
Image Credit: Inc42
Food Safety Violations: After Zepto, FDA Suspends Blinkit’s Balewadi Dark Store Licence
- FDA has suspended Blinkit’s dark store licence in Pune's Balewadi for food safety violations.
- The inspection conducted by FDA on June 5 revealed that the dark store did not have the required licensing for food production, distribution, or sale.
- The licence under Section 31 (1) of the Food Safety and Standards Act, 2006 is mandatory for food business operators in India.
- The dark store also lacked certifications such as the pest control audit certificate and calibration certificate for cold storage equipment.
Read Full Article
1 Like
Silicon
1M
317
Image Credit: Silicon
Stablecoin Company Circle Internet Surges After IPO
- Stablecoin company Circle Internet Group saw its stock price surge over 40 percent after its IPO on the New York Stock Exchange, raising $1.1 billion amidst strong demand.
- Circle's stock price rose to over $120 on Friday, significantly higher than its $31 initial offer price, valuing the company at about $23bn.
- This IPO marked the largest first-day rise for a US IPO raising more than $100m since Sono Group in 2021, indicating a growing mainstream acceptance of stablecoins amidst regulatory developments.
- Circle's USDC stablecoin, holding about 29 percent market share, reflects a broader trend of stablecoins gaining attention and adoption in the financial sector.
Read Full Article
19 Likes
Inc42
1M
435
Image Credit: Inc42
Sanlayan Bags INR 186 Cr To Boost Indigenous Defence Tech Development
- Defence tech startup Sanlayan Technologies raises INR 186 Cr in Series A funding round led by Ashish Kacholia and other investors.
- Sanlayan Technologies specializes in advanced electronics systems for aerospace, defence, and space sectors, providing electronics for various applications.
- The startup has contributed to key defence and space projects in India and plans to double down on developing critical technologies with the new funding.
- Sanlayan aims to increase its engineering headcount, hire defence experts, and compete in the defence tech sector against other companies like Constelli and Sagar Defence Engineering.
Read Full Article
25 Likes
For uninterrupted reading, download the app