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Startup News
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Even Healthcare raises $30 million in series A funding round led by Khosla Ventures
- Bengaluru-based healthcare startup Even Healthcare has raised $30 million in a Series A funding round led by Khosla Ventures.
- The funding will help Even Healthcare expand its hospital operations in Bengaluru and scale its patient care processes.
- Even Healthcare offers a range of services including unlimited free consultations, diagnostic tests, and cashless hospitalizations.
- The startup aims to open three new hospitals, integrate technology, and expects to close the 2024-25 fiscal year at $35 million in revenue.
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Economic Times
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Fashion and lifestyle brand Zouk raises $10 million in round led by Aavishkaar Capital
- Zouk, a Mumbai-based direct-to-commerce (D2C) fashion and lifestyle brand, has secured $10m after a funding round was led by Aavishkaar Capital. Existing investors such as Stellaris Venture Partners, JJ Family, Sharrp Ventures and Titan Capital Winners Fund also joined the round. The funds raised will be used to expand the brand network of exclusive outlets, investing in talent recruitment, and to strengthen marketing and supply chain capabilities. Zouk plans to increase its outlets from four to 75 over the next three years.
- The brand was established in 2016 and is known for its vegan leather products and making Peta-approved bags. It offers bags, wallets, and footwear through multiple channels including marketplaces and physical stores.
- According to co-founder Pradeep Krishnakumar, the majority (90%) of the business is online. However, after strong performance in its first store, Zouk plans to expand its offline presence. Zouk claims to have over 700,000 customers across India and has raised a total of $14.5m to date.
- The Indian online lifestyle market is expected to reach between $40-45bn by 2028, compared to its current size of $16-17bn, according to a report by Bain & Company and fashion marketplace Myntra.
- Aavishkaar Capital's investment director, Divya Gupta, stated that the fund believed Zouk was well-placed to 'capture a significant share of the rapidly growing bags and accessories market' in India.
- Earlier this year, Zouk entered the luggage market with backpacks and trolley bags. Predominant players in the luggage space in India include Mokobara, Uppercase and Safari Industries.
- Zouk's last funding round, in May 2020, raised $3m led by Stellaris Venture Partners. At that time, Sugar Cosmetics founders Kaushik Mukherjee and Vineeta Singh, Deutsche Bank India CEO Dilip Khandelwal, Atomberg founder Manoj Meena, and Sharrp Ventures also participated.
- Krishnakumar added that Zouk plans to broaden the range of its products across handbags, backpacks, totes, and satchels.
- Zouk has made the majority of its sales through D2C website. However, it also sells its products through marketplaces like Flipkart and Amazon and quick commerce.
- Other investors backing Zouk include Stellaris Venture Partners, JJ Family Office and Sharrp Ventures.
- The company plans to use the funding to expand its network of outlets, invest in talent recruitment and strengthen its marketing and supply chain capabilities.
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Inc42
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Jio Financial Services Eyes Insurance Partnership With Allianz
- Jio Financial Services is in discussions with Allianz SE to form insurance partnerships.
- Allianz, which currently has joint ventures with Bajaj Finserv in India, is looking to set up general insurance and life insurance ventures with JFS.
- Allianz is considering dissolving its existing joint ventures with Bajaj Finserv due to disagreements on strategic direction.
- The discussions between JFS and Allianz are in initial stages, and the decision to proceed with the plans is yet to be made.
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TechCrunch
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Andreessen Horowitz helps founders meet compute needs with ‘Oxygen’ private GPU cluster
- Venture capital firm Andreessen Horowitz (A16Z) has revealed its private GPU cluster called 'Oxygen' to help its AI startups meet their compute needs.
- The Oxygen program allows A16Z's portfolio companies to train or operate their AI models without negotiating market rates for GPUs.
- With Oxygen, AI startups can compete against larger tech companies in building large AI models, as they have access to GPUs without the need for big contracts.
- A16Z's Oxygen cluster offers startups flexible GPU access without long-term commitments to cloud providers or high costs, in exchange for a stake in their businesses.
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Yourstory
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Swiggy launches Swiggy Seal for restaurants
- Swiggy introduces Swiggy Seal initiative to award labels to restaurants for maintaining hygiene, food quality, and packaging standards.
- Swiggy Seal leverages insights from over 7 million verified customer reviews to offer actionable insights to restaurant partners.
- The feature is currently live in Pune and will be scaled to cover 650+ cities.
- Swiggy teams up with FSSAI-accredited agencies to offer restaurants access to professional hygiene audits and support to meet hygiene benchmarks.
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Inc42
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Zomato Jumps 3% After Upbeat Q2 Show
- Foodtech major Zomato's shares surged 2.9% after reporting upbeat Q2 financials.
- Zomato's consolidated net profit increased by 389% YoY to INR 176 Cr in Q2 FY25.
- Brokerages maintain a bullish outlook on Zomato and predict strong growth for Blinkit.
- Zomato has increased its platform fee to INR 10 during the festive season.
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Yourstory
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MakeMyTrip reports 9X jump in Q2 profit as travel continues to boom
- MakeMyTrip reported a 9X jump in its second-quarter profit to $17.9 million.
- Gross bookings for Q2 FY25 increased by 24.3% to $2.26 billion.
- India's total travel gross bookings increased by 72% to $33.2 billion in 2022.
- MakeMyTrip forecasts a similar double-digit increase in bookings for 2023.
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AllTopStartups
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Child Custody in Divorce: Essential Considerations for Parents
- Parents facing child custody arrangements in the course of a divorce should understand the legal framework behind custody arrangements.
- In Richmond, Texas, custody agreements aim to foster stable, supportive environments for children.
- Legal custody pertains to the authority to make decisions about a child’s education, healthcare, and religious upbringing while physical custody involves day-to-day care and living situations.
- The emotional connection of the child with each parent, age of child, and capability of parents to provide a secure and stable environment are all considered in courtrooms.
- Effective communication, respecting each other and setting up a consistent meeting schedule can help resolve the process smoothly.
- Creating a parenting strategy, revisiting the plan regularly, and incorporating the child's preferences and requirements are also mandatory.
- The role of mediation is highlighted as a peaceful resolution alternative that can save time and money for both parties.
- Getting legal assistance from experienced attorneys can make the process of determining rights and responsibilities smoother.
- The way custody is handled affects the mental well-being of a child, so parents should work towards creating a comforting atmosphere.
- Parents should be willing to reconsider arrangements to meet changing needs to ensure the child's well-being remains a priority.
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AllTopStartups
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How Streamlining Business Travel Can Boost Startup Growth and Productivity
- Streamlining business travel can boost startup growth and productivity by reclaiming time, reducing stress, and improving financial efficiency.
- Centralized booking systems help save costs by monitoring expenses, negotiating discounts, and accessing loyalty programs.
- Streamlined travel processes increase employee productivity by allowing them to focus on their objectives and minimizing paperwork.
- Efficient business travel improves employee satisfaction, builds loyalty, and sends a message that the company values their time and well-being.
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AllTopStartups
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The Pros and Cons of Bridging Loans for Property
- Bridging loans are short-term financing options for property investors, allowing them to bridge the gap between selling one property and purchasing another.
- Advantages of bridging loans include speed of approval, flexibility in lending criteria, no early repayment fees, and the potential for profit by financing property renovations.
- Disadvantages of bridging loans include higher interest rates compared to traditional mortgages, short-term nature requiring a clear repayment plan, and additional fees such as arrangement fees and valuation fees.
- Before opting for a bridging loan, property investors should carefully consider the pros and cons to make an informed decision and maximize returns on their investments.
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AllTopStartups
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Abby is the AI Therapy In Your Pocket: Accessible Anytime, Anywhere
- Abby is an AI therapist that provides accessible and always available mental health support.
- Benefits of Abby include 24/7 access, non-judgmental and compassionate responses, and an easy-to-use interface.
- Abby helps users build self-confidence, cope with everyday challenges, and serve as a complement to traditional therapy.
- Abby is a great companion for those seeking a judgment-free space for emotional support anytime.
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TechCrunch
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Fixify blends automation and human analysts to tackle IT problems
- Fixify is an IT help desk platform that combines automation and human analysts to tackle IT problems.
- The platform connects to existing IT ticketing systems, uses AI to identify problem hotspots, and recruits IT analysts to diagnose and resolve issues.
- Fixify uses sentiment analysis to gauge the tone and urgency of incoming requests and updates ticket statuses to keep stakeholders informed.
- The company recently closed a $25 million Series A funding round and plans to focus on expanding its workforce and customer base.
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Tech Story
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5 reasons Excel might not be the best choice for task management
- Excel lacks reminders, notifications, or task management features which make it less suitable for complex project management needs.
- Numerous software products are available for task and project management, including Planfix.
- Within Planfix, you can set reminders for each task; quick reminders at for example 15 minutes or other reminders can be customized for due dates and recipients; - recurring reminders to help ensure that important deadlines or regular tasks are not overlooked.
- Excel does not support tracking deadlines automatically, but within Planfix, you can set task deadlines, start dates, and due dates, and track deadlines/overdue tasks.
- Managing checklists and distributing tasks among team members in Excel is cumbersome. However, this process is simplified in Planfix.
- Collaborating as a team in Excel can be challenging, whereas Planfix provides a chat feature for each task to communicate effectively among team-members.
- Excel does not allow viewing of employees’ actual workload. In Planfix, the workload management feature allows viewing all employees’ workloads and offers various options with different views like boards, tables, Gantt, or Kanban.
- Investing in a comprehensive solution for task/project management, like Planfix, is beneficial for scaling alongside your business.
- Planfix offers a free pricing plan that enables you to streamline and automate business operations without initial financial investments.
- In conclusion, Excel can be a basic tool for managing tasks, but opting for solutions like Planfix is better as it provides comprehensive features for efficient and effective task/project management.
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TechRound
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Efficiently Managing Payments and Reporting in a Small Business
- Managing payments and reporting is crucial for running a successful small business.
- Selecting a reliable payment system can help in reducing human error and ensuring smooth transactions.
- Clover is a versatile payment system that caters to small businesses with various features.
- Automation will reduce manual effort and minimise the risk of errors, saving valuable time towards growing your business.
- Integrating your payment system with accounting software streamlines financial reporting, providing real-time insights into financial status.
- Cash flow management is crucial for small businesses to ensure liquidity to meet other financial obligations.
- Foreseeing future income and expenses based on current data helps in preparing for success.
- Maintaining accurate records and seeking advice from financial consultants can ensure compliance with financial regulations.
- Staying up-to-date with tax obligations ensures penalties, audits, and damages do not negatively impact business reputation.
- A payment system that tracks VAT generated tax reports can simplify the tax process.
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Eu-Startups
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London-based Genie AI raises €16 million to reduce legal friction and boost economic efficiency
- Genie AI, the world’s leading AI legal editor, has raised €16 million in Series A funding, led by GV (Google Ventures), and joined by Khosla Ventures.
- Genie AI drafts personalized and comprehensive agreements across global jurisdictions within minutes.
- Over 100,000 companies, including FTSE100 firms and global law firms, have used Genie AI to draft or review documents.
- The investment follows the projected growth of the legal AI software industry and aims to reduce legal friction and enhance economic efficiency.
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