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Inc42
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Darwinbox’s FY24 Revenue Jumps 58% Driven By Overseas Expansion, R&D Investments
- HR tech platform Darwinbox reported a 58% growth in total revenue to INR 393 Cr during FY24.
- The growth was driven by overseas expansion and research and development investments.
- Darwinbox's EBITDA margin improved by 17 percentage points during the same period.
- The company operates in India, Southeast Asia, Middle East, US, UK, and Canada with international markets contributing over 50% of the new ARR added in the fiscal year.
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Inc42
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Can FirstCry Scale Up GlobalBees And Global Biz To Beat Losses?
- FirstCry, which built an empire around the kidswear proposition, is increasingly focussing outside the kids and babycare segment and going for a larger piece of the ecommerce pie, not just in India, but also in the Middle East.
- Incidentally, the only developments related to FirstCry’s India business in Q1 FY25 were for two notices from the Income Tax (IT) Department and fires at its warehouses in West Bengal and Maharashtra that resulted in loss of inventory, property and equipment.
- GlobalBees, in particular, adds a brand new dimension to FirstCry. The house of brands’ model is centred around acquiring and scaling up digital-first brands across categories.
- GlobalBees is on course to hit profitability faster than standalone house of brands, and operational efficiency is likely down to FirstCry’s central infrastructure and operational expertise.
- FirstCry is looking to grow both, ecommerce, and offline presence in the Middle East and has earmarked $13 Mn for its UAE subsidiary, which handles the Middle East operations.
- For vertical ecommerce players with FirstCry’s scale and reach, the international market is a big attraction - FirstCry is also banking on GlobalBees’ slate of D2C brands across categories to bolster its core kidswear, and baby care business.
- The GlobalBees house of brands business hitting profitability will be a major milestone for FirstCry as it vindicates the company’s investment in this model.
- However, now that it’s working under the limelight that comes with being a publicly listed company, FirstCry cannot afford to drag its losses for too many quarters.
- Even when it comes to revenue, the Globalbees brands and the international business for FirstCry have been the growth areas in the past couple of years.
- Soon after the INR 4,194 Cr IPO, GlobalBees increased its stake in consumer appliances brands Frootle and Wellspire, spending more than INR 106 Cr for the two all-cash deals.
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Gritdaily
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176
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Kevin S. Floyd Transforms Atlanta’s Procurement Operations with Innovative Center of Excellence
- Kevin S. Floyd, deputy chief procurement officer for Atlanta, has transformed the city's procurement operations through an innovative center of excellence.
- Under Floyd's leadership, the Department of Procurement has achieved significant reductions in processing time and improved efficiency.
- Floyd's initiatives have also led to better sustainability and a reduced carbon footprint for the city.
- His work has been recognized through various awards, and after a decade of service, Floyd has moved on to new endeavors.
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Yourstory
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331
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Kerala Startup Mission invests Rs 15 Cr in energy transition VC firm
- The Kerala Startup Mission (KSUM) has invested Rs 15 crore in Transition VC, India's first venture capital fund focused on energy transition.
- The investment aims to accelerate the development of startups in clean energy and decarbonisation, aligning with Kerala's ambitious goals of achieving 100% renewable energy by 2040 and net carbon neutrality by 2050.
- The partnership between KSUM and Transition VC will offer both financial support and mentorship to deep-tech startups working on energy transition solutions.
- Kerala has made substantial strides in its sustainability efforts, demonstrated by its upcoming hydrogen valley projects and plans to expand solar and wind energy projects.
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Gritdaily
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225
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Transformative Trends and Innovative Tools Defining the Future of MarTech
- AI and machine learning are revolutionizing personalization efforts in MarTech, enabling hyper-personalized experiences.
- Customer Data Platforms (CDPs) are essential for creating unified customer profiles and driving data-driven decisions.
- The future of MarTech relies on gathering first-party and zero-party data while prioritizing user privacy.
- Advanced analytics tools allow for predictive and prescriptive marketing strategies, optimizing customer targeting.
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Siliconangle
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723
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Agentic AI startup CrewAI closes $18M funding round
- Agentic AI startup CrewAI has closed an $18 million funding round to support its growth efforts.
- The funding was raised through a seed investment led by boldstart ventures and a Series A raise led by Insight Partners.
- CrewAI has developed an open-source framework that simplifies the building of AI agents and enables them to collaborate on complex tasks.
- The startup's paid offering, CrewAI Enterprise, provides a no-code interface and templates for building AI agents, along with features for running them in production.
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Startup Pedia
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309
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Founder member quits Renee Cosmetics to start her own gender-neutral skincare brand - based on ghar ke nuskhe
- Fugeno is a new-age gender-neutral brand that makes products rooted in time-tested gharelu nuskhe and combines the principles of biomimicry in its offerings.
- Founder Nupur Thakkar aims to systematically dismantle beauty standards that have been set for ages and treat skin issues without asking you to conform to a specific beauty standard.
- Fugeno's products are based on home remedies including ingredients like multani mitti, potato, cinnamon, nutmeg, papaya, and lavender, and blend science-based elements like niacinamide and salicylic acid to get to the root cause of skincare problems.
- Fugeno's product catalog includes Lavender Body Juice, Potato Bright Under Eye Mask, Cinnamon Spice Lip Plumper, and Multan Face Essential.
- Fugeno wants to help Gen Z and Alpha customers reject beauty standards on social media and guide them towards the right skincare rituals.
- Fugeno has mid-premium priced products that are absolutely safe for all skin types and ranges from Rs 250 to Rs 2,500.
- Nupur Thakkar is involved in numerous advertisement campaigns and projects to bring in the desired audience for Fugeno.
- Fugeno is India's first gender-neutral skincare brand, founded in January 2024 by Nupur Thakkar, who had worked in the domains of construction, hair, makeup, and even alcohol.
- Fugeno's name is inspired by Future and Genome and integrated the science of biomimicry with nature-sourced products aiming to solve skincare problems for today and tomorrow.
- The brand wants to provide youngsters (and adults) with a safe skincare brand that solves real issues without overly glorifying the results.
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Yourstory
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158
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Heavy rains wreak havoc in Bengaluru
- Incessant rains in Bengaluru have caused severe flooding and waterlogging in many parts of the city.
- Many lakes are overflowing and residents have been stranded on the streets and trapped in buildings.
- Residents of the Kendriya Vihar apartment complex in Yelahanka had to be evacuated in boats.
- The state government has announced a holiday for schools and advised IT-BT companies to allow employees to work from home.
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Gritdaily
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317
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Playbux’s AI-Powered Platform Is Redefining Gaming and Entertainment for a New Generation
- Playbux is a leading AI-driven Web3 entertainment platform.
- It combines blockchain technology, AI-driven personalization, and real-world rewards to provide users with a one-of-a-kind experience.
- Playbux has achieved one of the highest engagement rates in the Web3 entertainment sector, with 17 million registered users and over 20 million on-chain actions.
- The platform is gaining popularity globally, with the top five countries by user transactions being the UK, Ukraine, Germany, Russia, and Hong Kong.
- Playbux's unique earning opportunities, such as Walk-to-Earn and Shop-to-Earn, have boosted its appeal.
- The platform's AI tool RI Engine dynamically adapts to individual user preferences to provide tailored recommendations.
- Users can earn rewards by playing games, watching content, shopping, or walking.
- PlaybuxQuest NFTs have been integrated into the ecosystem, giving players a true sense of ownership of their digital assets.
- Playbux is developing a gas-free Layer 1 blockchain with Vite Labs, adding significant value to its platform.
- As Playbux continues to innovate and expand, it is leading the way in shaping the future landscape of Web3 entertainment.
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Yourstory
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Darwinbox sees revenue jump 58% to Rs 393 Cr in FY24 on R&D and international expansion
- Darwinbox, a SaaS unicorn, reported a revenue of Rs 393 crore in FY24, marking a 58% increase from the previous year.
- The growth is attributed to R&D investments, international expansion, and increased revenue contributions from existing customers.
- The company also saw improved efficiency, with operating cash burn decreasing by 12% and a 17 percentage point improvement in EBITDA margin.
- Darwinbox has expanded its presence to Southeast Asia, the Middle East, North America, and plans to launch a new global payroll product.
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Inc42
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1.4k
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Avaana Marks Final Close Of Climate Fund At $135 Mn
- Venture capital firm Avaana Capital has closed its early stage climate fund at $135 Mn.
- The Avaana Climate and Sustainability Fund focuses on energy & resource management, mobility & supply chains, and sustainable agriculture & food systems.
- It has raised capital from various organizations including the Green Climate Fund and the US International Development Finance Corporation.
- Avaana Capital aims to support early stage startups offering tech-based solutions for climate mitigation and sustainability.
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Insider
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366
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Legal tech startup Genie AI just raised $17.8 million from Google and Khosla Ventures using this 13-slide deck
- Legal tech startup Genie AI has secured a $17.8 million Series A funding from Google and Khosla Ventures.
- Genie AI offers an AI editing platform that allows lawyers to turn around a contract in minutes.
- The platform aims to help businesses reduce costs and accelerate deal closures.
- Genie AI plans to expand in the US and further develop its agentic AI capabilities.
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Gritdaily
3w
132
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SilentSwap Is Revolutionizing Cross-Chain Swaps with Privacy-First Transactions
- SquidGrow, the utility meme coin, is launching SilentSwap, a privacy-focused DEX aggregator.
- SilentSwap aims to address privacy and security concerns in the crypto and DeFi ecosystem.
- SilentSwap will offer cross-chain transactions with enhanced privacy features using Secret Network's technology.
- SilentSwap's non-custodial nature ensures user ownership and security, gaining rising demand in the market.
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Yourstory
3w
150
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SoftBank exec Paul Davison resigns from Firstcry board
- Paul Davison, a SoftBank executive, has resigned from the board of Brainbees Solution, the parent company of Firstcry.
- Davison's resignation was due to SoftBank's internal compliance requirements.
- Firstcry stated that the composition of the board remains in compliance with applicable laws.
- Firstcry recently acquired a 24% stake in Dynamic IT Solution and received a notice from the Karnataka GST authorities.
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Inc42
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Acko Wrapping Up $120 Mn Secondary Deal; Arpwood Capital, Others Likely To Join
- Insurtech company Acko is closing a $100-120 Mn secondary deal.
- Early investors such as Catamaran Ventures and Chrys Capital are selling their stake.
- New investors joining the deal include Arpwood Capital, Enam group’s family office, Mithun Sacheti, and MK Ventures’ Madhusudan Kela.
- Existing shareholder General Atlantic will acquire additional stake.
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