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Startup News
Economic Times
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Japan's MUFG Bank, Koch Group seek CCI nod to acquire minority stakes in Shiprocket
- MUFG Bank and Koch Group have requested approval from the Competition Commission of India to purchase minority stakes in logistics aggregator Shiprocket.
- MUFG Bank's acquisition of a minority shareholding is associated with logistics services.
- Koch Group's KDT Venture Holdings has also proposed to acquire a minority shareholding in Shiprocket.
- Koch is one of the US's largest private businesses, and the Koch Group is a subsidiary of KDT.
- The proposed transactions entail share acquisition and are covered by Section 5 of the Competition Act, 2002.
- MUFG Bank and Koch Group said that proposed transactions do not cause any competition concerns.
- Projects like enterprise resource planning services, warehouse management systems, and warehousing services could fall under notional overlaps between Shiprocket and the Koch Group.
- Shiprocket has seen an increase in revenue, though it posted a loss of Rs 595 crore in the fiscal year 2024.
- The company aims to achieve full profitability in the current fiscal year.
- It states that its cash flow burn decreased to Rs 100 crore in FY'24 from Rs 191 crore in FY'23.
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Yourstory
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Image Credit: Yourstory
Sean 'Diddy' Combs and Liam Payne: Conspiracy behind One Direction singer's death?
- Sean 'Diddy' Combs faces multiple legal battles, including a recent lawsuit alleging threats to kill a college student and her friend.
- Toxicology results reveal multiple substances in Liam Payne's system at the time of his death, raising speculation of a possible connection to Combs.
- Complaints filed earlier accused employees of carrying pink cocaine, a drug containing a mixture of methamphetamine, ketamine, and MDMA, in Diddy's business enterprise.
- Additional lawsuits have recently been filed against Diddy, including accusations of rape and sexual assault.
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TechBullion
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Image Credit: TechBullion
The Startup Scene in Chicago: What Makes It Special?
- Chicago's startup scene is gaining attention and becoming a hot spot for entrepreneurs looking to kickstart their businesses.
- Chicago offers extensive support for startups with resources like incubators, accelerators, and shared workspaces.
- The city's focus on diversity and inclusivity brings different perspectives and promotes a more innovative startup culture.
- Chicago's startups focus on solving real-world issues, making the city known for tackling challenges in sectors like transportation, education, and healthcare.
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Yourstory
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Image Credit: Yourstory
Go Digit faces IRDAI show-cause notice over excess expenses in FY24
- Go Digit General Insurance has received a show-cause notice from IRDAI for exceeding expense limits in FY2023-24.
- The company has applied for forbearance to exempt from regulatory requirements for three years starting April 1, 2023.
- Go Digit's motor insurance segment reported a 10.22% increase in premiums for Q2 FY25.
- The company saw profits in smaller segments like fire, marine, health, and crop insurance.
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ISN
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Image Credit: ISN
OLOID raises $6 million in a Series A1 round to accelerate innovation and expansion in India
- OLOID, a workplace technology provider, has raised $6 million in a Series A1 funding round.
- The funding round was led by Yaletown Partners, Exposition Ventures, George Kaiser Family Foundation, and Carya Ventures.
- OLOID focuses on physical identity and access technology, connecting and managing workplace security.
- The raised capital will be used to strengthen engineering and product development teams in India and enhance the platform.
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Yourstory
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Image Credit: Yourstory
US-based General Catalyst closes new $8B fund
- US-based General Catalyst has closed a new $8B fund.
- The fund will be allocated to core VC funds, creation strategy, and separately managed accounts.
- The capital will be used to boost investments in AI, defence and intelligence, climate and energy, industrials, healthcare, and fintech.
- General Catalyst has been diversifying its investments and taking an interest in the healthcare sector.
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Futurefundraisingnow
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The power of mystery for raising funds online and off
- Mystery is one of the most important (and under-used) tools for us in fundraising.
- Creating a tantalizing mystery in email subject lines and direct mail outer envelopes can grab attention and raise more funds.
- Humans are drawn to mysteries and feel compelled to find out what's going on.
- Using subject lines that hint at what's inside, rather than revealing everything, can increase open rates.
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Hitconsultant
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Image Credit: Hitconsultant
Counsel Health Launches with $11M to Deliver Physician-Led, AI-Powered Medical Advice
- Counsel Health has secured $11M in Seed funding led by Andreessen Horowitz (a16z) Bio + Health for its physician-led, AI-powered medical advice platform.
- The funding will support Counsel's national expansion and coverage extension to millions more members.
- Counsel aims to address the access-to-care crisis in the US healthcare system by providing personalized medical advice from expert physicians within minutes. Its AI-powered system allows physicians to respond efficiently and precisely to patient inquiries.
- Counsel's approach may lead to the development of a new medical specialty called Asynchronous Medicine, where providers specialize in delivering messaging-based care.
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Eu-Startups
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Global investment and transformation firm General Catalyst raises over €7.5 billion
- General Catalyst raises over €7.5 billion in its largest global fund to date.
- The fund aims to support ambitious entrepreneurs and tackle global challenges.
- It will be allocated across core venture capital investments, company creation, and separately managed accounts.
- General Catalyst focuses on transformation efforts and has a legacy of successful investments.
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ISN
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Image Credit: ISN
India's Infosys partners with University of Cambridge to set up an AI lab in London
- Indian technology company Infosys has partnered with the University of Cambridge to establish an AI Lab in London, as part of its expanded Living Labs network.
- The AI Lab aims to leverage AI technologies to drive positive impact for clients, academia, and students.
- Located in London's Canary Wharf, the lab will serve as a hub for innovation activities and focus on Enterprise AI and digital transformation.
- The collaboration with the University of Cambridge will help address real-world challenges and foster cutting-edge research and innovation initiatives.
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SiliconCanals
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Image Credit: SiliconCanals
London-based Granola raises €18.5M to create an AI notepad that enhances your thinking
- London-based Granola has raised €18.5M in a Series A funding round led by Spark Capital.
- Granola differentiates itself by combining manual note-taking with AI assistance.
- The AI-powered notepad transcribes meetings and improves and organizes notes.
- Granola plans to expand its features and provide insights into team conversations.
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Startupreporter
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Image Credit: Startupreporter
Ethika Insurance Broking Leading the Way As A Client-Centric Insurance Broking Company
- Ethika Insurance has become a leading insurance broking company in India.
- They have managed insurance portfolios for over 450+ corporate clients.
- Ethika Insurance focuses on customer satisfaction and ethical business practices.
- They have expanded operations to five major cities in India.
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Insider
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Image Credit: Insider
A payments startup hoping to take on Stripe and Square just raised $75 million with this pitch deck
- Payments startup, Finix, raised $75 million in a Series C funding round led by Lightspeed Ventures and Acrew Capital.
- Finix helps businesses accept, disburse, and manage payments and has raised $208 million to date.
- The company targets businesses lacking software-developer resources and offers low-code, no-code tools.
- Finix competes with Stripe and other payment processors by providing a one-stop solution for various payments needs.
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TechCrunch
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Supply chain startup Interos lands new customers, cash
- Supply chain risk intelligence firm Interos has secured new customers and funding.
- Interos has signed contracts with the Defense Department, Canada's Coast Guard, and Royal Navy.
- The company's revenue has grown 35% YoY, indicating increased demand for supply chain risk management solutions.
- Interos plans to use the $40 million funding to enhance its AI capabilities and expand its product development.
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TechCrunch
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Image Credit: TechCrunch
AI networking startup Boardy raises $3M pre-seed
- Professional networking startup Boardy has raised $3 million in a pre-seed round of funding.
- Boardy uses AI voice technology to connect users and facilitate introductions between individuals in its network.
- The startup aims to combat loneliness and leverage AI to build human connections.
- The funding will be used to further develop and train the AI technology and expand the network.
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