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Pymnts
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Procurement Startup Zip Valued at $2.2 Billion After $190 Million Funding Round
- Procurement startup Zip has secured $190 million in Series D funding, increasing its valuation to $2.2 billion.
- The investment is one of the largest in procurement technology in over 20 years.
- The funding will be used to enhance research and development efforts and expand globally, particularly in Europe, the Middle East, and Africa (EMEA).
- Zip's goal is to revolutionize business spending and streamline the procurement process.
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Economic Times
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AI startup Neysa raises $30 million in funding round led by NTTVC, others
- Neysa, an AI cloud and platform-as-a-service startup, has raised $30 million in a funding round co-led by NTTVC, Z47, and Nexus Venture Partners.
- The funds will be used for scaling up infrastructure and fueling research and development to democratize access to scalable AI solutions.
- Neysa offers generative AI platforms and services to help clients manage AI projects and ensure security across cloud and edge environments.
- The startup expects 200-300% growth next year and aims to triple its revenue.
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Inc42
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Can Kaatil’s Fiery Indian Flavours Challenge Tabasco’s Global Dominance?
- Kaatil, a Mumbai-based D2C brand, aims to shake up the world hot sauce market with India’s diverse and vibrant range of chillies.
- Kaatil's aim is to create global condiments using Desi chillies at different heat levels.
- Kaatil's products follow a distinctive nomenclature system where numbers represent heat levels on a scale of 1 to 9.
- One of Kaatil's standout features is its use of authentic Indian chillies to deliver a nuanced flavour profile reflective of local cuisine.
- Kaatil is highly focused on building an omnichannel business from the outset, aiming to grow its presence across multiple channels.
- Kaatil aims to reach 2,000 stores within the next three years and position itself as a premium Indian brand in the global market.
- Kaatil projects INR 50-100 Cr in revenues over the next three to five years.
- Kaatil plans to launch four to six new products in the next year in addition to expanding its footprint into ready-to-eat and snacking segments.
- Kaatil claims to have generated INR 1.5 Cr revenue in FY24 and projects 2-3X growth in FY25.
- The global hot sauce market is expected to become a $7.9 Bn opportunity by 2032, dominated by global giants like Tabasco and Heinz.
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Yourstory
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How AI-driven RCS business messaging can enhance customer engagement
- Rich Communication Services (RCS) business messaging offers advanced features and reach through native mobile apps.
- Integration of AI-powered chatbots in RCS enhances customer engagement by enabling automated services and interactive features.
- AI-powered RCS business messaging improves customer experience with 24/7 support, personalised interactions, and streamlined processes.
- Lower operational costs and enhanced sales opportunities are additional benefits of AI-powered RCS chatbots.
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StartupDaily
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Ex-CEO of failed crypto exchange Mine Digital charged with fraud over $2.2 million in missing bitcoin
- The former CEO of Mine Digital, the company behind the failed cryptocurrency exchange in Queensland, has been charged with fraud.
- ASIC alleges that the ex-CEO used $2.2 million paid by a customer for Bitcoin to pay off ACCE liabilities and/or purchase cryptocurrency for others.
- Mine Digital collapsed in September 2022 and was handed to an administrator just weeks before the collapse of US exchange FTX.
- The case against the ex-CEO has been adjourned to December 16, 2024.
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Medium
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What You Need to Know Before Joining a Startup Company
- Joining a startup company can be both exciting and challenging.
- Startups often have a small team, with employees wearing multiple hats and taking on various roles.
- Being the only brand strategist with no experience can present unique challenges.
- It's important to be aware of the realities and expectations of working in a startup environment.
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Yourstory
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PhonePe expands hardware footprint; What is Cloud TV?
- Microsoft allows building autonomous AI agents. In Q3 2024, VCs invested $3.9 billion in Gen AI startups. Perplexity AI seeks to double its valuation to about $9 billion. Relocating headquarters to India wave includes Groww. PhonePe expands hardware footprint by managing close to seven lakh cores across three data centres in India. Losses shrink by about 29%, revenue soars to Rs. 5,064 crore in FY24 and became profitable on an adjusted basis at Rs. 197 crore. Dharma raised Rs 1000 crore in a fresh round. Cloud TV introduced a lightweight and efficient OS for smart TVs. Access Earth observation satellites through KaleidEO.
- Microsoft's autonomous AI agents program can make decisions independently. VCs bet on generative AI startups, investing $3.9 billion in Gen AI startups in Q3 2024. Perplexity AI hopes to double its valuation to $9 billion. Groww shifted its domicile to India and paid around $160 million in taxes. PhonePe expands its hardware footprint across three data centres in India and significantly manages almost seven lakh cores. PhonePe's losses shrank by 29%, whereas the revenue increased to Rs 5,064 crore in FY24. Dharma raised Rs 1000 crore in a fresh round.
- Cloud TV introduces homegrown lightweight and efficient smart TV OS, allowing it to run smoothly. Cloud TV operates on a SaaS model, focusing on monetization through licensing fees and advertisements. Cloud TV offers access to over 200 apps, including major OTT platforms, live TV channels, and recommending apps, content or services within the TV’s interface. KaleidEO takes a demand-first approach to Earth observation satellites, and reverse engineers the payload requirements. KaleidEO process images in space within 90 seconds using high-resolution sensors and edge computing.
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Yourstory
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Kunal Bahl on Titan Capital’s new fund, investment thesis, and encouraging domestic capital
- Titan Capital, founded by Snapdeal’s Kunal Bahl and Rohit Bansal, has made the final close of its new fund at Rs 333 crore. The venture capital firm wants to exclusively invest in follow-on rounds of some of the top-performing companies from its portfolio of 280 startups.
- Titan Capital has selected many large, reputed family offices, CEOs of large listed companies, and founders as well from the startup ecosystem who have scaled good businesses to back their Winners Fund.
- It is predominantly domestic capital. Bahl passionately feels about activating domestic capital. The recent data reveals that only 15% of startup funding in India last year came from domestic sources. He hopes that other good investors also give an opportunity to domestic capital to participate in the startup economy.
- The VC firm is looking to invest in 20 startups with an average ticket size of Rs 15 crore. The additional capital will serve as a mark of confidence in its portfolio.
- The strategy behind the new fund is to invest in the standout companies within the Titan Seed Fund portfolio that they already know well, making it an ideal opportunity for them to double down on their best prospects.
- They prioritise great founding teams that have demonstrated success in various fields, interesting market spaces specifically companies targeting 'laughably small TAM (Total Addressable Market)', and importance of generating solid unit economics, as they represent the core of any business.
- Titan Capital has backed tech-enabled companies and understands these business models well. However, there has been a recent outcry about there being no money for growth-stage companies in India. He said, for now, they just felt setting up the Winners Fund was for their founders.
- The firm said there are 2-3 deals in the pipeline as part of Winners Fund, one company is in the business-to-business (B2B) space, another in construction material space and another in the quick service restaurant (QSR) space.
- There is no strict timeline as such but roughly around 2-3 years, Titan Capital expects to disperse the entire fund. It depends on if more companies mature faster, they will invest faster.
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TechCrunch
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India’s Neysa bags $30M to compete with global AI hyperscalers
- Indian startup Neysa has raised $30 million in a Series A round to compete with global AI hyperscalers.
- Neysa offers AI and machine learning infrastructure and platform as a service to enterprise customers in India.
- The startup differentiates itself by offering flexibility, including both public cloud and private clusters.
- Neysa plans to expand its product lineup, target local businesses, and enter global markets with future funding.
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Medium
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The Role of Sales Enablement: Helping Revenue Growth and Supporting Sales Teams
- Sales enablement equips sales teams with the resources they need to close more deals through access to training, content, tools, data, and insights.
- Sales enablement is a strategic process that aligns sales and marketing efforts and provides consistent support through centralized teams to remove friction from the sales process, leading to increased efficiency, higher win rates, and stronger revenue growth.
- Organizations with strong sales enablement strategies see a 20% increase in win rates and a 66% faster ramp-up time for new hires.
- One of the most important aspects of sales enablement is its role as a shared service that conserves key functions into a single unit to provide uniform and consistent support to the sales organization.
- Centralizing sales enablement efforts in one platform enables sales reps to quickly access the tools, content, and support they need without having to navigate through multiple systems, improving efficiency and enhancing the overall experience for the sales team.
- For organizations looking to scale their sales enablement efforts, adopting a shared services model is crucial to creating efficiencies and improving collaboration across departments.
- StartingPoint is a powerful tool that can help sales enablement teams centralize operations, initiatives, projects, tasks, and requests from sales or other departments, streamlining workflows, improving visibility, and enhancing collaboration.
- Sales enablement is a critical function that drives revenue growth and supports sales teams, creating a more efficient and effective sales process.
- Implementing a platform like StartingPoint can enhance the effectiveness of sales enablement efforts and ultimately drive revenue growth and support sales teams in achieving their goals.
- Visit StartingPoint at www.startingpoint.ai for more information.
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Medium
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How to Raise Pre-Seed Funding in 2024: Lessons from TestSprite’s Journey
- To make the most of your pitch, founders should have a clear and compelling vision of their product and be able to communicate that vision clearly to investors.
- Startups that address urgent and unmet needs in growing markets are more appealing to investors and worth refining the pitch until it feels undeniable.
- Highlighting the unique strengths of the founding team builds investor confidence in the ability to execute.
- Early feedback from validating your product with real users shows investors that there's real demand for the product.
- Before approaching investors, founders should have data which shows traction.
- Investors may take time in pre-seed fundraising due to the competitive fundraising landscape.
- Providing regular updates on the progress of the startup shows investors that steady strides are being made, leading to an increased level of credibility.
- Create a financial model that clearly lays out the projected costs, revenue streams, and runway to show investors how their money will be used.
- Startups should focus on investors who have a track record of supporting early-stage startups in their niche. Thoroughly researching investors is key to finding the right match.
- Pre-seed investors expect flexibility in terms of valuation caps and equity. Startups should be open to negotiation and to keep the long-term vision in mind.
- Founders should highlight not only the product milestones already accomplished but also their vision for the continued growth of the company.
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Medium
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3 Tips on Building a Shared Services Group Inside Growing Startups
- A shared services model addresses issues like silos, redundancy, and waste within departments of a growing startup by consolidating core business functions into a single, unified team that provides support across all departments.
- Firstly, identify business functions to centralize, which typically includes administrative tasks, HR tasks, procurement, and accounts payable or receivable. This reduces operational redundancy and frees up teams to focus on strategic work.
- Once you have centralized your shared services functions, it is critical to define workflows and responsibilities clearly to ensure smooth communication between the shared services team and other parts of the organization.
- Project tracking becomes a key component of this process, ensuring that tasks are completed efficiently and nothing falls through the cracks.
- Relying on shared inboxes for communication and task tracking can quickly become a source of inefficiency. Startups should adopt project management and ticketing systems to manage incoming requests from various departments to create accountability and ensure no request is overlooked.
- Using tools like Slack for informal discussions and real-time collaboration is fine, but startups should integrate ticketing or project management tools with Slack to manage tasks.
- Regular team check-ins, problem-solving sessions, and sharing best practices among departments can improve efficiency and foster innovation. Communication tools like Slack can help break down silos and create a more collaborative culture across departments.
- It is essential to establish key performance indicators (KPIs) for your shared services group, such as metrics for efficiency, effectiveness, and customer satisfaction, in order to gauge how well the team is functioning and whether they're meeting the needs of the rest of the organization.
- StartingPoint is a powerful workflow and automation platform designed to help startups manage the growing complexity of their operations by consolidating multiple functions into a unified platform, with centralized project tracking that enables shared services groups to assign tasks, manage deadlines, and monitor progress.
- As your startup continues to grow, StartingPoint will scale with your operations, ensuring that your shared services team remains efficient and productive, ultimately driving long-term success.
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Gritdaily
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141
Image Credit: Gritdaily
The Hard Lessons of Partnership Building
- In today’s rapidly changing markets, strategic partnerships must enable each other’s long-term growth, where both partners have skin in the game and see their future success as intertwined.
- Historically, B2B partnerships in IT were bilaterally direct agreements between companies, lacking flexibility needed to keep pace with evolving technological landscapes.
- The rise of cloud technologies transformed partnerships by introducing new approaches to fluid, scalable collaborations and data sharing.
- Cultural and operational alignment, package deals, and a shared vision are essential to successful, long-term partnerships.
- Partnerships must unlock potential achievable by multiplying resources and knowledge.
- In today's market, competition is at an all-time high and differentiating oneself from others can only be done by aligning two brilliant teams, expertise, and goals.
- Working together to develop adaptable, scalable package deals that offer clear value, we can strengthen the partnership and create more attractive, long-term opportunities for larger clients.
- B2B partnerships are evolving and moving towards ecosystem-based subscription models, introducing recurring revenue streams that offer stability and predictability in the volatile market.
- Collaboration helps increase customer stickiness, grow retention, and expand potential market reach.
- True success in B2B comes from finding partners open to co-creation, where the benefits are mutual, and both sides see their value amplified.
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Siliconangle
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Haiper debuts new flagship video generation model
- Haiper Ltd. has debuted Haiper 2.0, a video generator that creates short clips based on user prompts.
- Compared to the previous release, Haiper 2.0 generates clips faster and in a more realistic style.
- An upcoming update will enhance the resolution of the videos to 3840 by 2160 pixels.
- Haiper uses AI models to power cloud services for generating short clips, and the new DiT architecture of Haiper 2.0 improves its performance.
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Massivelyop
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Tarisland is adding a roguelike mode and a ‘Fair Raid’ mode in tomorrow’s Blight Dragon Elegy
- Tarisland is launching its first full season's worth of content with new gameplay features.
- The update includes several new PvE modes, such as Temple Maze, Twisted Dreamland, and Fair Raid.
- The video teases a new team battle mode for PvP and fresh boss battles for guilds.
- The release of the new content is scheduled for tomorrow.
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