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Inc42

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From Jumbotail To InCred Finance — Indian Startups Raised $315 Mn This Week

  • Indian startups raised a total of $314.6 million this week, with Jumbotail becoming India's 124th unicorn.
  • Ecommerce emerged as the most favored sector, attracting $155.6 million in investments, led by Jumbotail's $120 million funding round.
  • Funding activities were diverse, with notable investments in sectors like fintech, agritech, health tech, and advanced hardware & technology.
  • The week also witnessed startup IPO updates, with Curefoods filing for an IPO, Meesho and Shadowfax opting for confidential pre-filing, and Kissht and NoPaperforms transitioning into public entities.

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Startup Pedia

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‘Building electronics capabilities in a sustained way’: Ashwini Vaishnaw says India to hit 38% value add compared to China in 5 years

  • India is working towards enhancing its electronics manufacturing capabilities to reduce reliance on China.
  • The country aims to achieve a value addition of 38% within the next five years, comparable to China's levels.
  • Efforts are focused on developing local skills and supply chains to 'de-risk' and strengthen the electronics ecosystem.
  • Initiatives like the India Semiconductor Mission and components incentive program are supporting the growth of India's electronics sector.

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Siliconangle

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Customer support automation startup Wonderful raises $34M

  • Wonderful Ltd., a customer support automation startup, has raised $34 million in funding from a seed round led by Index Ventures and involving Bessemer Venture Partners and Vine Ventures.
  • The company focuses on providing AI-powered customer support solutions for non-English markets, allowing enterprises to create custom AI agents for handling support requests through various channels like call centers, chatbots, and email.
  • Wonderful's platform utilizes large language models to process customer inquiries, with plans to incorporate language-specific data points and support for more languages in the future.
  • The company intends to use the funding to enhance its platform, add support for additional languages, and differentiate itself from competitors like CrescendoAI Inc. and Palona AI Inc.

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TechCrunch

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Ready-made stem cell therapies for pets could be coming

  • San Diego startup Gallant has secured $18 million in funding to develop the first FDA-approved ready-to-use stem cell therapy for veterinary medicine.
  • The therapy aims to address conditions in pets like Feline Chronic Gingivostomatitis (FCGS) and arthritis, with promising early results showing improvements in pain and mobility.
  • Gallant's approach differentiates itself by utilizing ready-to-use cells from donor animals, potentially simplifying the treatment process compared to traditional stem cell therapies.
  • Investors, including Digitalis Ventures and NovaQuest Capital Management, are optimistic about Gallant's potential, recognizing its novel approach and convenience.

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Medium

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The Intricacies of VC Deals-1

  • VC deals involve complex economic provisions outlined in a term sheet to simplify venture transactions for entrepreneurs.
  • Ownership stake and dilution are key considerations for founders and employees when VCs invest, often mitigated by setting aside reserves for future financing rounds.
  • Convertible debt and SAFE notes are common in early-stage financings, bridging financial gaps and critical for entrepreneurs to include in post-money valuation calculations.
  • Critical terms like liquidation preference, anti-dilution protection, pay-to-play provisions, and pro rata rights are crucial elements of VC deals that require careful negotiation and understanding.

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Pymnts

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BBVA to Continue Takeover Bid for Sabadell Despite Sale of TSB

  • BBVA is moving forward with its efforts to acquire Banco Sabadell, despite Sabadell's decision to sell its U.K. unit, TSB.
  • BBVA may make a tender offer to Sabadell's shareholders in the coming weeks, unaffected by Sabadell's sale of TSB.
  • Analysts see Sabadell's sale of TSB as a strategy to boost investor dividends and defend against BBVA's takeover bid.
  • BBVA has been pursuing a takeover of Sabadell for over a year, as both banks navigate the potential acquisition.

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Startup Story

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Luma Fertility Raises $4 Mn Seed Funding Led by Peak XV’s Surge To Redefine IVF and Fertility Care in India

  • Mumbai-based fertility startup Luma Fertility raises $4 million in seed funding led by Peak XV Partners’ Surge, with participation from Ameera Shah and Vijay Taparia.
  • Founded by Neha K Motwani, Luma Fertility aims to revolutionize India's fertility ecosystem, focusing on patient-centric care.
  • The startup offers a range of fertility services in Mumbai, including IVF procedures, fertility assessments, and complementary therapies.
  • With plans for expansion, Luma Fertility aims to provide tech-enabled and emotionally supportive fertility solutions to meet the growing demand in India.

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Startup Story

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GobbleCube Raises $3.5 Mn in Pre-Series A Round to Power Hyperlocal Brand Growth with AI

  • Bengaluru-based AI startup GobbleCube raises $3.5 million in a Pre-Series A funding round led by InfoEdge Ventures and participated in by Kae Capital to scale its hyperlocal brand growth platform.
  • GobbleCube, founded by former leaders at Blinkit, offers an AI-powered platform that helps brands identify revenue gaps and growth opportunities in hyperlocal markets, reporting 2-3x sales increases for clients.
  • The funding will be used to enhance the platform's AI capabilities, expand geographic and platform coverage, and accelerate global go-to-market efforts, as brands navigate the complexities of hyperlocal and platform-specific competition.
  • As retail evolves toward hyper-personalization, GobbleCube aims to empower consumer brands with actionable insights and predictive analytics to succeed in digital marketplaces.

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Hackernoon

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10 Things to Do After Your First Win—So It’s Not Your Last

  • Getting traction may lead to overconfidence, killing momentum faster than expected.
  • After initial success, key actions include not losing the scrappy mindset and avoiding entitled decisions.
  • Suggested steps after traction involve self-reflection, challenging ideas, and staying humble and wary.
  • It is emphasized to maintain a sense of urgency and avoid complacency after initial wins.

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Hackernoon

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You Can’t Wing It to $10M: The Brutal Truth About Startup Sales

  • Startups often fail due to confusing momentum with machinery, leading to scalability issues.
  • Achieving initial revenue milestones through hustle can be a trap hindering further growth.
  • Building a structured revenue assembly line is crucial for sustainable scaling and success.
  • Lessons on precision, experience in hires, and incentivizing for long-term success highlighted.

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TechBullion

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Sibongile Gobile: The Legal Visionary Redefining South Africa’s Tech Frontier

  • Sibongile Gobile, a legal visionary in South Africa, is redefining the country's tech frontier by emphasizing responsible innovation within ethical and regulatory frameworks.
  • Gobile combines his legal background with a deep understanding of technology to advocate for the integration of legal, ethical, and cultural considerations into tech development and deployment.
  • He is involved in various initiatives that bridge the gap between technology and social development, promoting inclusive growth and skills development for underserved communities in areas like agriculture and property technology.
  • Sibongile Gobile's work showcases the importance of clear regulatory frameworks in tech deployment and paves the way for accountable and ambitious technological advancements in Africa.

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Startup Story

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Ghaziabad Municipal Corporation Launches Impact Analysis Report on Student Learning Post ‘Swachh Mohalla Squad’ Initiative

  • The Ghaziabad Municipal Corporation has launched the Impact Analysis Report of the Swachh Mohalla Squad initiative aimed at educating school students about solid waste management.
  • Over 40,000 students from 100 schools in Ghaziabad participated in interactive sessions and activities to promote awareness and understanding of waste management.
  • A learning assessment among 5,000 students showed positive results in knowledge acquisition and behavioral change regarding waste segregation, recycling, and composting.
  • The initiative reflects the commitment to Swachh Bharat Mission (Urban) goals and community-led transformation, with recognition given to the Hon'ble Chief Minister and partners for their support.

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Inc42

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Centre To Launch INR 2,000 Cr Drone Tech Incentive Scheme

  • The Centre plans to launch a INR 2,000 Cr incentive scheme to boost drone manufacturing in India, spanning three years.
  • The initiative under the civil aviation ministry aims to reduce reliance on imported drone components and counter Pakistan's drone program.
  • The scheme targets localizing key drone component production by at least 40% in India by FY28, offering additional incentives for using domestic parts.
  • The growing Indian drone tech ecosystem has shown potential in defense and civilian sectors, with startups playing a pivotal role.

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ISN

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IndiGo appoints ex-NITI Aayog CEO Amitabh Kant as non-executive director

  • IndiGo has appointed Amitabh Kant as a non-executive director, pending regulatory and shareholder approvals.
  • Amitabh Kant, a former Indian bureaucrat, is known for his role in various nation-building initiatives and sustainability projects.
  • Kant's career spans over four decades, and he has led initiatives like the Green Hydrogen Mission and the Aspirational Districts Program.
  • IndiGo plans to utilize Kant's expertise to enhance India's transportation sector and expand globally, with a focus on trade, tourism, and economic growth.

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Startup Story

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Ramveer Tanwar – The PondMan of India How a Small-Town Engineer Sparked a National Environmental Awakening

  • Ramveer Tanwar, known as the PondMan of India, revived neglected ponds and promoted water conservation.
  • Starting in his village, he organized clean-up drives, educated communities, and founded Say Earth.
  • His efforts expanded to multiple states, focusing on community involvement and urban forestry projects.
  • Recognized nationally, Ramveer's initiatives emphasize grassroots action and sustainable environmental restoration.
  • His story showcases the impact of individual dedication in creating widespread ecological change.

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