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Startup News
Inc42
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JFS, BlackRock In Talks To Roll Out Private Credit Venture
- BlackRock is reportedly in discussions with Jio Financial Services (JFS) to establish a private credit venture in India.
- The joint venture aims to leverage the growing direct lending market in India and provide loans to businesses.
- This would mark BlackRock's fourth collaboration with JFS, but no final decision has been made yet.
- JFS has been expanding its services, recently launching the JioFinance app and aiming to disrupt the fintech sector.
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Insider
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AI sales startup Clay is raising a new funding round at a $1.3 billion valuation, sources say
- Clay, an AI-powered sales startup, is set to be valued at $1.3 billion in a new funding round.
- The company previously raised a $46 million Series B at a $500 million valuation in June.
- Clay supports revenue operations and growth teams by automating outreach to potential customers.
- Its customers include Anthropic, Notion, Vanta, Ramp, and Intercom.
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ISN
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SKYBER Aerospace partners with Dubai-based Sibia to meet growing UAV demand in Middle East and Africa
- SKYBER Aerospace has partnered with Dubai-based Sibia Technologies to address the increasing demand for UAV systems in the Middle East and Africa (MEA).
- The partnership aims to deliver UAV systems for defence and commercial sectors, focusing on localizing operations to meet regional needs.
- The MEA UAV market is projected to reach $5.3 billion by 2029, presenting significant opportunities for both companies.
- The partnership will provide enhanced local support, training centers, and faster access to spare parts to improve customer experience in the MEA region.
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Startup Pedia
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19-YO Builds Wearable Electrolyte Analyzer and IoT Mask for Athletes
- 19-year-old Sai Smaran from Karnataka has developed two innovative products: an Electrolyte Analyzer and an IoT-powered mask.
- The IoT-powered mask has a small fan attached to it, controlled by a device, which helps clear fog from spectacles.
- The Electrolyte Analyzer is a wearable device that identifies the sodium concentration in sweat and recommends the right foods to maintain electrolyte balance.
- Sai aims to make the Electrolyte Analyzer affordable, priced at Rs 5,000, and is seeking incubator support for mass production.
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StartupDaily
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Breakthrough Victoria pours $2.5 million into food waste rival to Goterra and Bardee
- Breakthrough Victoria, a state government-backed venture fund, has invested $2.5 million into Melbourne startup Viridian Renewable Technology, which recycles food waste as animal feed and fertiliser.
- The funds will be used to increase Viridian's factory capacity, creating 15 jobs and producing an additional 1,300 tonnes of insect protein annually.
- Viridian plans to build two more plants in Gippsland to support the local food and agricultural industry.
- The company uses black soldier fly larvae to convert food waste into insect-based protein, oil, and organic fertiliser.
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TechCrunch
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After selling Drift, ex-HubSpot exec launches AI for customer success managers
- Elias Torres, former VP of engineering at HubSpot and co-founder of Drift, has launched AI-powered startup Agency to automate tasks for customer success managers (CSMs).
- Agency has raised a $12 million seed round led by Sequoia and HubSpot Ventures.
- The AI technology used by Agency gains a deep understanding of customers from various data sources, allowing it to anticipate their needs.
- Agency's product is currently being tested with companies and is available in an invite-only beta for customer success professionals.
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Yourstory
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Samay Kohli’s AI venture Budy.bot raises $4.2M led by RTP Global
- Budy.bot, an AI platform, has raised $4.2 million in seed funding round led by RTP Global.
- The funds will be used to fuel the training and development of Budy's core AI skills.
- Budy.bot streamlines the deployment and management of sales and marketing software stacks for enterprises.
- The platform aims to assist growth-stage companies with crucial systems and processes during rapid growth.
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Yourstory
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Addressing healthcare disparities in rural India through technology
- Health disparities in urban and rural India are severe and demand immediate attention. The lack of medical facilities, healthcare professionals, and timely treatment in rural areas have contributed to poor health status, increased maternal and infant mortality and lower life expectancy.
- Technology has the potential to address healthcare disparities in rural India. Telemedicine, mobile health, digital health platforms, and AI-powered chatbots can bridge the gap between quality healthcare and inaccessible areas.
- Rural areas account for 67% of India's population but only 30% of hospital beds and 50% of health institutions. The doctor-to-patient ratio is alarmingly low at almost 1:25,000.
- There is a lack of primary healthcare in rural areas and a shortage of healthcare professionals who feel reluctant to work in rural areas because of poor living conditions, inadequate infrastructure, and absence of career growth.
- Teleconsultations allow people in rural areas to communicate with doctors and specialists in urban areas without traveling, saving their time and money and ensuring timely medical advice and continuous care for chronic conditions such as diabetes, hypertension and heart disease.
- Mobile health (mHealth) services give information about health, medication reminders, and e-records of one's health. Pregnant women in rural areas can use mHealth apps to track their pregnancies and receive reminders for check-ups.
- Digital health platforms connect patients, providers, and pharmacies on a single interface. Patients in rural areas can schedule appointments, examine laboratory results, place medicine orders, and talk with doctors remotely.
- The Indian government has taken various steps to address healthcare disparities. Several ICT initiatives have been developed, including the National Health Portal, e-Hospital @NIC and mobile apps on vaccination tracking, disease management and stress management.
- With telemedicine, mHealth applications, digital health platforms, and AI-driven innovations, it is possible to treat everyone regardless of location and bring the potential of a healthier, equitable society with regards to healthcare with it.
- Internet connectivity, smartphones, and training for doctors and patients are required to make technology available and affordable to bridge the healthcare gap between rural and urban India.
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Startupreporter
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Bishop Cotton School Shimla Celebrates 165 Years of Legacy with Old Cottonian’s Weekend 2024
- Bishop Cotton School in Shimla is celebrating 165 years of educational excellence.
- The Old Cottonian's Weekend celebration will bring together alumni from around the world to honor the school's legacy.
- The event will feature a music concert, a light and sound show, sports matches, and the release of commemorative publications.
- Bishop Cotton School has a distinguished alumni network and is committed to providing a world-class education.
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Yourstory
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Crafting quality culinary experiences; BharatPe slashes EBITDA losses
- The world is nearing the 'age of electricity' with fossil fuel demands expected to peak by the end of the decade, the International Energy Agency said. Clean energy projects are on the rise in China, which accounted for 60% of new renewable energy in 2023. India is also stepping up its clean energy plans with a $109 billion investment in the electricity grid to incorporate new renewable sources. Silicon Valley is looking at nuclear power for its clean energy requirements, with Google and Amazon investing in small nuclear reactors. BharatPe Group reduced its EBITDA loss before share-based payment expense by 75% to Rs 209 crore in FY24. Catering services firm CaterNinja handles menu customisation for events based on event size and cuisine preferences using its proprietary algorithm. It has cloud kitchens in several Indian cities and has offered services in over 25,000 events so far. IBM is using GenAI to refactor older computer languages into more modern applications.
- BharatPe grew its merchant lending portfolio by 40% and introduced Android POS systems for merchants. It also continued to see strong adoption of its soundbox devices. The company plans to focus on growing its lending vertical, launching new products in POS and soundbox, and scaling its consumer business in the future.
- GenAI is being used to understand code as a starting point for refactoring legacy systems into more modern applications. IBM believes that AI has a role to play in augmenting existing technology systems and people, rather than replacing them.
- Luxury fashion house Prada and commercial space company Axiom Space have unveiled the designs for a spacesuit that will be worn for NASA’s Artemis III moon mission. The Grand Egyptian Museum near the pyramids of Giza has opened its doors to some of its galleries, showcasing over 100,000 objects, including treasures from the tomb of King Tutankhamun. Amazon has announced its first colour Kindle e-reader carrying a $280 price tag.
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Yourstory
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Catering to all events: Inside the workings of CaterNinja
- CaterNinja is a Bengaluru-based start-up launched in 2016 as a full-service caterer aggregator, offering comprehensive end-to-end catering services.
- CaterNinja provides a wide range of customizable menus, catering to diverse culinary preferences and specific event requirements.
- The company pivoted in 2020 to offer a solution that blended the convenience of restaurants with the comfort of home-cooked meals.
- Started with an initial investment of Rs 5 lakh, CaterNinja now boasts a team of 150 people across various departments.
- CaterNinja offers three services—NinjaBox, NinjaBuffet, and NinjaLive.
- The Bengaluru startup offers customizable menus, allowing patrons to mix and match multiple cuisines.
- CaterNinja’s proprietary algorithm simplifies menu customization, which enables customers to generate personalized quotes based on event size and cuisine preferences.
- CaterNinja operates as B2B and B2C models and serves startups, large corporations, government institutions, and public enterprises, as well as private gatherings, with guests ranging from 10 to 1,000. The startup has strategically located cloud kitchens in Delhi, Mumbai, Bengaluru, Chennai, Hyderabad, and Pune.
- According to the co-founders, CaterNinja clocks in a monthly order volume of 1,000, has grown 10X quarterly, and served at around 25,000 events.
- CaterNinja claims to have no direct competitors but sees food service providers, including Zomato, which recently introduced its large order fleet service for bulk orders, as its rivals.
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Gritdaily
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Rafaela Bartholomeu Is Combining Innovation with Tradition in Marketing
- Galpão Gaucho Brazilian Steakhouse has successfully expanded to new markets and enhanced its brand influence.
- Rafaela Bartholomeu played a pivotal role in digital marketing and social media engagement, reaching 11 million impressions and 2.8 million people.
- The restaurant openings in Charleston and Las Vegas received extensive media coverage, contributing to Galpão Gaucho's success in these markets.
- Despite challenges during the pandemic, Galpão Gaucho showcased resilience, achieved sales recovery, and demonstrated the effectiveness of their marketing strategy.
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Inc42
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Budy Bags $4.2 Mn To Simplify Sales, Marketing For Businesses
- AI chatbot Budy has raised $4.2 million in a pre-seed funding round led by RTP Global.
- The funds will be used to enhance Budy's AI capabilities and training.
- Budy aims to simplify the deployment and management of sales and marketing software stacks.
- The platform focuses on achieving tangible business results and plans to initially target North America.
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Economic Times
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AI firm Budy bags $4.2 million in funding round led by RTP Global
- California-based Budy has raised $4.2 million in a funding round led by RTP Global.
- The funds will be used to accelerate the training and development of AI skills.
- Budy aims to simplify sales and marketing software stacks, reducing operational complexity.
- The startup will initially target North America in its partnership with select enterprise customers.
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Gritdaily
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218
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Coastec Built Redefines Affordable Housing with Sustainable and Eco-Friendly Projects
- Coastec Built LLC, led by President Luis Ignacio Coll Doreste, is revolutionizing affordable housing by integrating sustainability and eco-friendliness.
- Their focus on health and well-being is evident through collaboration with the Florida Health Department to develop aerobic septic systems.
- Coastec Built prioritizes energy efficiency by incorporating technologies like energy-efficient windows, appliances, and smart home systems.
- They embrace innovative construction practices, such as sustainable materials and methods, to minimize environmental impact.
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