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Startup News
Startupreporter
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KISNA Diamond and Gold Jewellery Launches its 2nd Exclusive Showroom in Gwalior
- KISNA Diamond and Gold Jewellery has opened its 2nd exclusive showroom in Gwalior.
- The grand opening was attended by Mr. Ghanshyam Dholakia, Founder & M.D, Hari Krishna Group, and Mr. Parag Shah, Director, KISNA Diamond & Gold Jewellery.
- To celebrate the launch, KISNA is offering up to 100% off on diamond jewellery making charges and a chance to win from over 100 cars through their #Abki_Baar_Aapke_Liye_Shop & Win a Car campaign.
- In addition to the showroom opening, KISNA also organized a tree plantation drive and a food distribution drive for the underprivileged.
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Siliconangle
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Cyera acquires Trail Security for $162M to expand AI-powered data security platform
- Cyera Ltd. has acquired Trail Security Ltd. for $162 million.
- Trail Security is a data loss prevention company focused on AI-driven solutions.
- The acquisition will integrate Trail's DLP capabilities with Cyera's Data Security Posture Management platform.
- The combined platform will offer comprehensive data security solutions to address infrastructure and data-level threats.
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Siliconcanals
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Dutch startup Onesurance raises Seed funding round led by Curiosity VC
- Dutch startup Onesurance has raised a seed funding round led by Curiosity VC.
- The funding amount remains undisclosed.
- Onesurance aims to provide tailored, profitable, and ethically responsible AI solutions for the insurance market.
- The funding will support Onesurance's commercial expansion and accelerate growth.
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Inc42
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Zomato To Consider Raising Funds Via QIP
- Zomato's board will consider raising funds through qualified institutional placement (QIP).
- The quantum of funding has not been disclosed.
- Zomato's board will also discuss and approve its financials for the September quarter.
- Zomato faces intense competition in the quick commerce space from rivals such as Zepto, Instamart, Flipkart Minutes, BigBasket, and JioMart.
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Yourstory
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Amaravati to host drone summit this month
- The civil aviation ministry and Andhra Pradesh government are organizing a two-day drone summit in Amaravati starting on October 22.
- The summit will see participation from drone companies, foreign entities, and other stakeholders.
- A drone show featuring over 5,000 drones will also take place on October 22.
- More than 1,000 delegates have registered for the summit, and the government is working on a new Production-Linked Incentive (PLI) scheme for the drone sector.
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Yourstory
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Andhra eyes Rs 10 lakh Cr investment in clean energy, net zero by 2047
- Andhra Pradesh aims to attract Rs 10 lakh crore investment in the clean energy sector.
- The state unveiled the AP Integrated Clean Energy (ICE) Policy to incentivize investments in solar, wind, and round-the-clock renewable energy projects.
- The policy aims to achieve net zero carbon emissions by 2047 and involves an investment outlay of Rs 10 lakh crore, creating employment for 7,50,000 workers.
- Andhra Pradesh targets the development of solar capacity, wind energy, pumped storage, green hydrogen manufacturing, battery energy storage, cleantech manufacturing, and EV charging stations.
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Economic Times
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Agnit Semiconductors raises $3.5 million in seed round
- Gallium Nitride (GaN) semiconductor startup Agnit Semiconductors has raised $3.5 million in a seed round led by 3one4 Capital and Zephyr Peacock – marking their first investment in India’s semiconductor sector.
- With participation from former CEO of Cognizant and angel investor Lakshmi Narayanan, the five-year-old Bengaluru-based startup has raised $4.87 million in total.
- Agnit Semiconductors plans to utilise the fresh funds to scale its production and commercial operations and expand into new market segments.
- The company is set to target consumer electronics and electric two-wheelers, and is eyeing 100,000 semiconductor chips sold in the next 12 months.
- Agnit is one of the first startups incubated by the Gallium Nitride Ecosystem Enabling Centre and Incubator managed by the Foundation for Science Innovation and Development (FSID) located at the Indian Institute of Science (IISc).
- The startup has also been awarded from the Government of Karnataka for their state-of-art GaN semiconductor technology.
- Agnit has recently signed a memo of understanding with India’s Ministry of Defence to design and develop next-generation wireless transmitters for defence applications using GaN technology.
- Zephyr Peacock's Managing Director said that Agnit has developed extensive know-how and proprietary processes to develop high-quality GaN materials and devices.
- The CEO of Agnit Semiconductor said that the fresh round of investment will help them scale their market presence and they are also committed to strengthening their leadership team to steer the company towards greater success.
- The CEO further added that GaN holds immense potential across sectors like 5G, fast charging, PV inverters and beyond, and its full impact is yet to be realized.
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Psu
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Ex-Sony Boss Shawn Layden Says Relying On Blockbuster Games Is ‘A Death Sentence’
- Former Sony executive, Shawn Layden, has stated that relying solely on blockbuster games is 'a death sentence' for the industry.
- Layden discussed the decline of AA development studios and the rising cost of producing AAA titles.
- He expressed concern over the lack of creativity and the abundance of sequels and copycats in the industry.
- Layden emphasized the need for more interest and exposure for lower budget but creative games.
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Economic Times
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Slice raises $8.5 million from founder Rajan Bajaj
- Fintech unicorn Slice has raised $8.53 million from its founder and CEO Rajan Bajaj through the issuance of partly paid-up shares.
- Slice previously raised Rs 300 crore in debt funding led by Taneja Family Trust, Anju Family Personal Trust, UK2 Family Trust, and MN Family Trust.
- Slice offers prepaid accounts, UPI payments, and consumer credit, and recently expanded into buy-now-pay-later (BNPL) services.
- Slice reported operating revenue of Rs 846.7 crore for fiscal year 2023, but its net loss widened to Rs 405.7 crore.
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ISN
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18k
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Full-stack gut wellness brand Lifechart raises $500,000 in funding led by Prajay Advisors LLP
- Lifechart, a full-stack gut wellness brand, has raised $500,000 in funding.
- The funding round was led by Prajay Advisors LLP and included various other investors.
- The investment will be used to enhance AI-driven diagnostic capabilities, launch new solutions, and target tier-1 cities.
- Lifechart plans to open gut wellness clinics and supermarkets, hire more doctors, and raise additional funding.
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SiliconCanals
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Amsterdam-based Confocal.nl secures €5M to develop advanced microscopes
- Amsterdam-based Confocal.nl has secured €5M in funding from investors including ROM InWest and Nascent Ventures.
- The funding will help make microscopes more accessible worldwide, enabling scientists to achieve breakthroughs faster.
- Confocal.nl develops advanced microscopes that allow more efficient study of living cells.
- The microscopes use minimal laser light at high resolution, enabling longer and more accurate study of processes in living cells.
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Startup Pedia
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'Avoid North-South Politics' - Sridhar Vembu Bashes Mohandas Pai
- Zoho CEO Sridhar Vembu criticized Mohandas Pai for questioning the government's decision not to select Bengaluru for the AI Centre of Excellence.
- Pai expressed disapproval and accused the government of ignoring the South in IT.
- Vembu, who co-chaired the committee that made the decision, defended the selection process and suggested avoiding North-South politics.
- The AI Centres of Excellence were announced in the budget speech and will be headed by top educational institutions, conducting interdisciplinary research and creating AI applications.
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Startupreporter
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Danish Power Limited IPO to Open on 22nd October, Sets Price Band at Rs.360 to Rs.380 per Share
- Danish Power Limited is set to launch its initial public offering (IPO) on 22nd October.
- The price band for the IPO is set at Rs. 360 to Rs. 380 per share.
- The company plans to raise INR 197.90 crores through the issuance of 52.08 lakh new shares.
- The IPO proceeds will be used for capital expenditure, repayment of borrowings, and working capital requirements.
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Insider
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401
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Exclusive: The cofounder of GroupMe and Splice is taking on the $180 billion supplement industry with new startup SuppCo
- Steve Martocci, cofounder of GroupMe, Blade, and Splice, has launched a consumer health app called SuppCo.
- SuppCo helps people find trusted supplements, create and manage supplement routines, and track their health progress over time.
- SuppCo raised a $5.5 million seed round co-led by Union Square Ventures and True Ventures, and including BoxGroup and Compound.
- The startup is tapping into the market for dietary add-ins, with some estimates valuing the global dietary supplements market at $180 billion or more.
- SuppCo's TrustScores help to build consumer trust by collecting data and analyzing over 500 popular supplement brands.
- SuppCo's app is currently free, and in the coming months, Martocci plans to use AI to comb through supplement research to strengthen the TrustScores.
- SuppCo aims to create a membership model that rewards the app's users for sticking to healthy habits over time.
- SuppCo's cofounder, Nick Michlewicz, previously cofounded two supplement companies.
- SuppCo wants users to be able to share their routines and health data with their clinicians and connect with other consumers about what's worked for them.
- Martocci's goal is to help consumers take control of their health, no matter if they are a biohacker or an average person.
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Pymnts
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Uber Reportedly Weighs Expedia Acquisition
- Uber has reportedly considered acquiring Expedia to strengthen its ongoing diversification.
- The $19 billion travel booking website would mark Uber's largest acquisition ever.
- Uber CEO Dara Khosrowshahi, who previously served as Expedia's CEO, would likely recuse himself from discussions.
- Uber's interest in the acquisition is still in the early stages, and no formal approach has been made to Expedia.
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