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Startup News
Yourstory
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How India’s first data protection act will help startups build customer trust
- India's first data protection act, the Digital Personal Data Protection (DPDP) Act, has been passed to establish a framework for processing personal data in India.
- The act aims to build customer trust by ensuring that personal data is protected and used only for its intended purpose.
- Startups need to comply with the act and prioritize data privacy to create customer trust, even if exemptions may apply based on government notifications.
- The act imposes severe penalties, including fines of up to Rs 250 crore, for violations or data breaches.
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Yourstory
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Innovation, incubation, and impact: Highlights from SummitUp 2024
- SummitUp 2024, hosted by NSRCEL, IIM Bangalore's entrepreneurship and innovation hub, successfully concluded, leaving behind a wealth of insights and transformative discussions that will continue to shape the future of entrepreneurship in India.
- The event highlighted the launch of the India Incubator Kaleidoscope 2024 report, emphasizing the critical role of incubators in fast-tracking startup growth through funding and intellectual property creation.
- Keynote speakers Amitabh Kant and Vipul Parekh provided valuable insights on India's journey as an economy, customer-centric product development, and building purpose-driven teams.
- Panel discussions and masterclasses focused on topics such as investment decisions, mobility landscape, and enhancing incubation programs to drive meaningful change in the startup ecosystem.
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Yourstory
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The Real-Time Insights Revolution: Why Tech Leaders Must Embrace Next-Gen Databases for Accelerated Business Growth
- Harnessing real-time information has become crucial for businesses.
- A round-table discussion at TechSparks Bangalore 2024 explored real-time data challenges and opportunities.
- Key takeaways included the need for unified data platforms, real-time analytics, robust governance, scalability, data literacy, and managing costs.
- Insights shared provide valuable guidance for leveraging real-time data to drive innovation and achieve sustainable growth.
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Yourstory
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Resilient Payments’ CEO traces the evolution of digital payments in India
- The CEO of Resilient Payments, Sandeep Indurkar, discussed the evolution of digital payments in India during a fireside chat at TechSparks 2024.
- He highlighted the role of UPI in democratizing payments and emphasized the importance of a collaborative approach in driving payments across India.
- Indurkar shared insights from his experience and emphasized the need to solve payment problems by having control, partnerships, and a robust payment platform.
- He also discussed the potential of AI, ML, and global expansion of UPI in revolutionizing the digital payments sector.
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Inc42
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Edtech Startup Great Learning’s Revenue Crosses $100 Mn Mark
- Edtech startup Great Learning crossed $100 Mn revenue mark in FY24.
- The Bengaluru-based company saw a 23% growth in its topline to $118 Mn during the year.
- Great Learning also posted a positive EBITDA and net profit for the fiscal year.
- The company focuses on offering upskilling courses in data science and AI.
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ISN
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Kunal Bahl's Titan Capital announces final close of Rs 333 crore winners fund
- Titan Capital, co-founded by Snapdeal’s Kunal Bahl and Rohit Bansal, has closed its Rs 333 crore Winners Fund.
- The fund will primarily support existing portfolio companies during later-stage funding rounds.
- It will focus on providing follow-on investments for nearly 20 companies, with an average investment of Rs 15 crore per company.
- This is the first time Titan Capital has raised external capital for a fund, attracting investments from Indian family offices, senior executives, and founders of its portfolio startups.
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Medium
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VC Deep Dive: No Such Ventures — Disrupting Traditional VC
- No Such Ventures is a venture capital firm that offers underappreciated startups greater opportunities to succeed while providing investors with more flexibility.
- The company’s Deal-by-Deal structure means they raise capital for each startup individually, which allows every investor who backs a startup through the platform to do so because they've chosen to support that particular business—not a generic portfolio.
- Unlike traditional VCs, No Such Ventures is committed to seeing all its startups succeed since its LPs are personally invested in specific deals.
- This model allows them to back companies that might not meet the traditional VC criteria but still have solid business models and long-term potential.
- No Such Ventures’s focus on collaboration, risk-taking, and collective ownership makes them an innovative alternative to traditional VC firms.
- No Such Ventures invests in common shares, meaning they win or lose alongside founders.
- No Such Ventures stands out as an appealing option for founders because it aligns investors and founders' interests more in a way that traditional VCs often fail to do.
- One of the most valuable assets that No Such Ventures provides founders is access to its extensive network of over 150 successful entrepreneurs and industry experts who are also their LPs.
- No Such Ventures embraces its entrepreneurial culture, where everyone at the firm, from analysts to partners, has skin in the game.
- No Such Ventures is exploring ways to integrate traditional fund characteristics into their model to improve deal security for founders.
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AllTopStartups
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What To Do After a Truck Accident: A Guide for Your Fleet
- Truck accidents can cause significant financial losses, operational disruptions, and legal complications.
- The guide provides step-by-step instructions on what to do after a truck accident to protect your fleet, minimize losses, and comply with legal requirements.
- The most crucial priority in a truck accident is the safety of everyone involved.
- Contact emergency services immediately, even if the accident appears minor, to create an official accident report.
- After ensuring everyone's safety and contacting emergency services, documenting the accident scene becomes the next critical task, and taking photographs of all vehicles involved and any visible property damage is essential.
- Drivers must exchange names, contact details, vehicle registration numbers, insurance information, and, if applicable, the name of the other driver's employer.
- Fleet management should be informed about the accident, and the insurance company must be contacted as soon as possible.
- Following the tow, a qualified mechanic should assess the truck to determine the severity of the damage and identify necessary repairs.
- Hiring an experienced truck accident lawyer ensures that your drivers and company are protected throughout the legal process.
- Conduct an internal review of the incident to identify any policy violations or training gaps that may have contributed to the accident.
- Review and update fleet policies and training materials to reduce the likelihood of similar incidents in the future.
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Npengage
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Leading with Innovation: Becoming a Chief Future Officer
- The role of a Chief Financial Officer has always been to use data to tell the story of your organization’s past, present, and future.
- In recent years there has been an increased emphasis on having a future-oriented mindset. Organizations recognize how important it is to be prepared for the unknown.
- To meet these expectations, you need to evolve from a Chief Financial Officer to a Chief Future Officer.
- One way to foster innovation to enhance efficiency is to have your team map out their collective “dream future process flow,” and then brainstorm ways to get there.
- Automation and technology are important, but it’s also crucial to implement thoughtfully. When planning for change, balance short- and long-term goals and have realistic expectations.
- Nonprofit CFOs need to understand and embrace the organization’s mission, programming, and culture, creating relationships with the other leaders in the organization.
- Becoming the Chief Future Officer of an organization may seem daunting, but identifying a clear roadmap for change is a great first step.
- Identify the key areas that require transformation and set measurable goals for each area. Make sure to engage stakeholders across the organization to gain insights and foster a shared vision.
- Properly utilizing existing technologies to their highest and best use can automate manual processes and alleviate some of the organization’s inefficiencies and pain points.
- Investment in technology is no longer a luxury, but a necessity.
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AllTopStartups
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Core Banking 4.0: Embracing Platformization with Skaleet
- Core Banking 4.0, driven by platformization, enables banks to launch services quickly, adapt efficiently, stay agile, reduce costs, and deliver personalized experiences.
- Skaleet Digital Core Banking Platform goes beyond offering innovation; it builds an entire ecosystem where flexibility and scalability are central.
- Skaleet's Core Banking Platform revolutionizes the industry with its flexibility, faster time-to-market, scalable infrastructure, innovation capabilities, and cost-efficiency.
- Skaleet's platformization sets new standards for innovation in the banking industry and allows financial institutions to future-proof their business.
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Startup Pedia
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This Man Left Secure Job in Plastic Company to Become UP’s ‘Lemon Man’
- Anand Mishra left a secure high-paying job in plastics industry to go back to his farming background and cultivated lemon in his hometown Raebareli, Uttar Pradesh.
- After traveling across parts of the country, he realized that staple crops such as wheat and paddy gave an annual profit of only ₹52,000 per hectare.
- Upon meeting with officials at the District Agriculture Office, he tried cultivating lemons even though no one before him had tried it because there was no support or insurance for lemon cultivation in the area.
- Starting with a single hectare of land and no assistance, he has created a profitable lemon business with an annual turnover of fifteen lakhs, and is now known throughout Uttar Pradesh as the 'Lemon Man.'
- Lemon farming is a profitable business. A farmer can earn 2 - 5 lakhs from 1 acre of land from the 4th year, whereas for traditional staple crops the profit would only be 30-35K annually.
- Anand Mishra is confident that anyone can cultivate lemons, and suggests setting aside even a small portion of one's land for horticulture to generate extra income while doing a full-time job.
- The biggest challenge for lemon farmers is the unavailability of insurance. Horticulture has no insurance, even though cultivators face huge risks.
- Mishra has become not only a farmer but also a horticulture expert, trainer, and corporate consultant. He often advises Ministers and Government officials.
- Mishra's goal is to travel to a Gulf country and cultivate lemons, given that they import all their citrus fruits. He would like to teach others what he learns from there.
- Mishra suggests cultivating lemons or other crops on lands traditionally used for staple crops in order to generate extra income and ensure a secure future.
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Yourstory
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Zomato sets up framework for well-being of its delivery partners
- Zomato has developed a framework to address the needs of its delivery partners.
- The framework focuses on five key elements: financial, social, physical, mental, and professional needs.
- It consists of over 80 smaller sub-categories, including earnings, safety, diversity, and knowledge.
- Zomato hopes that this framework sets a standard for delivery partner well-being in the industry.
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Alleywatch
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The Weekly Notable Startup Funding Report: 10/21/24
- Hello Cake raised $18.0M in total equity funding to offer prescription medication, supplements, lubricants, and devices from AF Ventures, Silas Capital, and Strand Equity Partners.
- Agtonomy raised $10.0M in total equity funding to offer autonomous and AI solutions for agriculture through Allison Transmission Holdings, Autotech Ventures, Black Forest Accelerator, Cavallo Ventures, Flybridge, Rethink Food, and Toyota Ventures.
- Azra Games raised $42.7M in total equity funding to offer blockchain-based games from a16z crypto, Andreessen Horowitz, NFX, and Pantera Capital.
- Everstage raised $30.0M in total equity funding to offer a no-code commissions automation tool for sales management platform through 3one4 Capital, Eight Roads Ventures India, and Elevation Capital.
- Liminal raised $10.0M in total equity funding to offer battery manufacturing intelligence provider that utilizes data and analytics from ArcTern Ventures, Chailease Holding, Chrysalix Venture Capital, Ecosystem Integrity Fund, Good Growth Capital, LG Technology Ventures, and UTEC – The University of Tokyo Edge Capital Partners.
- Forge Nano raised $10.0M in total equity funding to offer proprietary nano-coating tech, Atomic Armor, to transform material engineering from GM Ventures.
- Healthie raised $23.0M in total equity funding to offer infrastructure for next-gen digital health companies that offer virtual-first care from Birchmere Ventures, GreyMatter, TCV, Velvet Sea Ventures, and Watershed Capital.
- Skimmer raised $74.0M in total equity funding to offer a pool service software and pool services from Mainsail Partners.
- Herald raised $12.0M in total equity funding to build digital infrastructure for commercial insurance from Afore Capital, Brewer Lane Ventures, Lightspeed Venture Partners, and Underscore VC.
- INSHUR raised $19.0M in total equity funding to offer a digital insurance platform that provides auto insurance to drivers and fleet owners from MS&AD Ventures and Viola Growth.
- MDisrupt raised $1.0M in total equity funding to offer the premier health expert marketplace for the healthtech and life sciences industries from American Heart Association Ventures.
- Oshi Health raised $60.0M in total equity funding to offer a digital health platform for people with digestive health conditions from Bessemer Venture Partners, CVS Health Ventures, Flare Capital Partners, Frist Cressey Ventures, Oak HC/FT, and Takeda Digital Ventures.
- Path Robotics raised $100.0M in total equity funding to offer robotic welding systems for improving manufacturing efficiency from Addition, Basis Set Ventures, Catapult Ventures, Drive Capital, Gaingels, Matter Venture Partners, MediaTek, Taiwania Capital Management Corporation, Tiger Global Management, and Yamaha Motor Ventures.
- Perry Weather raised $15.0M in total equity funding to offer weather technology firm with a SaaS supported concentration and complementing proprietary hardware from Arthur Ventures.
- REsurety raised $32.0M in total equity funding to offer risk management and software products to the buyers and sellers of clean energy from Angeleno Group, Citi, and S2G Ventures.
- Yellow Card raised $33.0M in total equity funding to facilitate buying and selling Stablecoins through local currency transactions from Block, Inc., Blockchain Capital, Blockchain Coinvestors, Castle Island Ventures, Galaxy Ventures, Hutt Capital, Polychain, Third Prime, and Winklevoss Capital.
- Capacity raised $26.0M in total equity funding to offer an AI-powered helpdesk that automates support for customers and employees from Toloka.vc and TVC Capital.
- Lightmatter raised $400.0M in total equity funding to offer a photonic processor for sustainable AI advancement from Fidelity, Google Ventures, and T. Rowe Price.
- X-energy raised $500.0M in total equity funding to offer advanced modular nuclear reactors and fuel technology for clean energy generation from Ares Management, Climate Pledge Fund, Kenneth Griffin, NGP Energy Capital Management, and University of Michigan.
- Decagon raised $65.0M in total equity funding to create generative AI for building customer service agents that work more like humans from A* Capital, Accel, ACME Capital, Bain Capital Ventures, Bond, and Elad Gil.
- ForceMetrics raised $22.0M in total equity funding offer a people performance analytics platform that analyzes specific datasets to produce actionable insights from Costanoa Ventures, Flybridge, Govtech Fund, Growth Warrior Capital, Hobson Lucas Family Foundation, and Stand Together Ventures Lab.
- Xscape Photonics raised $44.0M in total equity funding to provides photonic chips for high-speed connections in high-performance computing systems and data centers from Altair, Cisco Investments, Fathom Fund, IAG Capital Partners, Kyra Ventures, LifeX Ventures, NVIDIA, and OUP (Osage University Partners).
- Horizon Surgical Systems raised $30.0M in total equity funding to develops AI-driven, imaging-guided surgical robotics for microsurgery from ExSight Ventures, Main Street Advisors, and Regents of the University of California.
- Neuron7.ai raised $44.0M in total equity funding to provide a service Intelligence platform that enables companies to deliver crucial service outcomes from Battery Ventures, Nexus Venture Partners, ServiceNow Ventures, and Smith Point Capital.
- Koloma raised $50.0M in total equity funding to offer geologic hydrogen company that leverages technology and data to identify and commercialize geologic hydrogen resources from Mitsubishi Heavy Industries and Osaka Gas.
- Supper raised $300.0M in total equity funding to provide homeowners with better options to access home equity without new debt or additional monthly payments from Antarctica Capital.
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Medium
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How Tasha Built a Global Community with Nonprofit Hive: A Podcast Recap
- Nonprofit Hive, a platform designed to facilitate one-on-one weekly conversations between nonprofit leaders globally, was born from Tasha’s own experience with isolation.
- Transparency is a standout theme throughout Tasha's story, and this has created trust within her community of nonprofit professionals.
- Nonprofit Hive gained international traction and has members from 56 countries, creating a true global community that shares insights, collaborates on projects, and supports one another across borders.
- The platform’s success wouldn't come from its technical features but from the relationships the app fostered.
- Members of the Nonprofit Hive build genuine relationships that often lead to unexpected collaborations, partnerships, and opportunities to share ideas and solve challenges.
- Tasha's unconventional approach of bootstrapping, or sustaining solopreneurship without external investors or a board of directors, has allowed her to maintain control over the direction of the platform.
- Nonprofit Hive's expansion has come with its challenges, with increased growth being the most significant. Tasha is exploring ways to sustain that growth without losing the personal touch that makes Nonprofit Hive special.
- Tasha's story is a testament to the power of community-driven innovation, encouraging entrepreneurs, nonprofit leaders, and community builders to focus on building meaningful connections.
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ISN
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UPI payments giant PhonePe launches new insurance coverage for firecracker accidents
- UPI payments giant PhonePe has launched a new insurance plan to provide coverage for firecracker-related accidents during the festive season.
- The plan offers coverage of up to ₹25,000 for a period of 10 days, ensuring peace of mind during Diwali celebrations.
- The insurance plan includes family coverage, protecting the policyholder and up to three family members.
- Users can easily purchase the insurance plan on the PhonePe app for a price of ₹9.
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