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Startup News
Inc42
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JetSynthesys-Backed Jetapult Picks Up Stake In UMX Studio To Foray Into MENA Region
- Bengaluru-based Jetapult has acquired a stake in Saudi Arabia-based game developer UMX Studio for $4.5 Mn (INR 38 Cr) in an all-cash deal.
- The investment will aid UMX's portfolio expansion, grow its audience base in overseas markets, and enable the development of games in new genres.
- Jetapult will provide expertise through its 'Invest & Operate' model to enhance UMX's user acquisition, monetization efforts, and implement advanced analytics and AI tools.
- The gaming industry in MENA is projected to reach $4.0 Bn in 2023, with Saudi Arabia contributing about 40% of the region's market share.
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SiliconCanals
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UK-based Concretene lands €3.5M to reduce the carbon footprint of concrete
- UK-based Concretene has secured €3.5M in venture capital to launch its carbon-saving concrete admixture.
- The company, which aims to reduce carbon emissions in the concrete industry, developed a prototype formulation achieving a potential 10-15% reduction in CO2 emissions from concrete.
- Concretene is a graphene-enhanced liquid admixture that improves the mechanical performance of concrete, allowing for less cement usage while maintaining strength.
- The funding will support product certification, increase revenue, and further collaborations with industry partners for low-carbon cement formulations.
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TechRound
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Startups Encouraging Healthy Eating
- There are a lot of companies that are using modern technology and putting their minds to work to optimize the other side of the coin – healthy eating.
- The tables have turned and instead of only using technology to come up with the quickest ways to get cheap, delicious food to people, plenty of entrepreneurs from all over the world are taking strides in figuring out the best ways to fuel our bodies.
- YFood Labs is the operator of a food processing company established in 2017.
- Clara Foods is an engineer and manufacturer of food that is ethically and sustainably produced and has positive effects on both the environment and the health of potential consumers.
- Oziva is the producer of modern plant-based organic products that are created with the intention of being healthy and high in nutrition.
- Snackible is the operator of a health-food production company. Located in Mumbai, India, the company is focused on creating snacks that are delicious and convenient, catering to people who are still looking for delicious food that is convenient and healthy too.
- Flore is the producer of custom probiotic products that aim to help people improve their gut health.
- DayTwo is the developer of a microbiome-health management platform that provides patients with diabetes or prediabetes with health and nutrition insights to help them eat well.
- Since we’re surrounded by so much delicious food these days, a lot of which is really not great for our diets, it can be tough to stay on the straight and narrow.
- Healthy eating requires more time, effort and money, and with modern technology, experts in the field are coming up with new and exciting ways to make healthy eating just as feasible as being unhealthy – if not easier.
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Yourstory
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Startup news and updates: Daily roundup (October 14, 2024)
- Robotics startup Perceptyne has raised $3 million in seed funding round to be used for product development, customer acquisition and growth. The round was co-led by Endiya Partners and Yali Capital, with Whiteboard Capital and notable angel investors also participating.
- Elixia has raised $1 million in pre-Series A funding led by JIIF. The funds will help improve the operational efficiency and expansion into the Middle East.
- Sustainable marketplace Brown Living has raised pre-seed funding to fuel growth and support India's artisans and small and medium enterprises sector. The brand has seen a YoY growth of 500% since its first round of funding in June 2021 and plans to scale its efforts.
- Actor and entrepreneur Rana Daggubati has joined Kingdom of White as an investor. The company is poised for rapid expansion with an omnichannel approach.
- DMI Finance Private Limited has appointed Niraj Khandelwal as Group CFO and Rachit Gupta as Group Treasury Head as part of the company's expansion in the financial services sector.
- SKYBER Aerospace has partnered with Sibia Technologies for the sales and services of its UAV products in the Middle East and African markets.
- PhonePe has launched a new insurance plan to cover firecracker-related accidents during the Diwali festive season. Starting from October 15, the coverage plan is available at Rs 9.
- Pop culture event Comic Con is expanding to three new cities this season, including Kolkata, Ahmedabad and Pune. The expansion follows Nazara Technologies' subsidiary NODWIN Gaming's acquisition of the event earlier this year.
- Union Minister of State for Education, Sukanta Majumdar, said gamification can revolutionise traditional learning methods by making education more engaging.
- Dental marketplace Dentalkart has appointed Gaurav Agarwal as its new CFO to drive financial success across industries.
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Appkodes
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How to Improve Live Streaming Quality?
- To avoid technical issues and interruptions, it is important to have strong infrastructure for live streaming platforms.
- Using adaptive bitrate streaming (ABR) can help reduce problems such as buffering and freezing when internet connection speed slows down.
- Storage solutions such as Amazon S3 can guarantee rapid recovery in case of technical issues.
- Optimizing quality by balancing resolution and bitrate can impact the stream quality.
- Low latency protocols such as WebRTC can greatly reduce lag while adjusting encoding settings for compression efficiency can improve stream quality.
- Scalable solutions such as elastic servers and load balancers can help handle traffic spikes, prevent lag, and maintain consistent video quality.
- Efficient storage options such as Zego and Amazon S3 can handle and manage live streaming content in a reliable and secure way.
- The room concept allows for managing multiple streams simultaneously while optimizing quality settings based on expected viewership.
- Collaborating with streaming partners with tailored solutions can help elevate your streaming game and provide a top-notch viewing experience.
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Inc42
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Licious Buys Bengaluru’s My Chicken And More To Expand Its Omnichannel Footprint
- D2C foodtech unicorn Licious has acquired Bengaluru-based offline retailer My Chicken and More.
- The deal will help Licious add 23 more stores to its network and expand its offline footprint.
- My Chicken and More's founder, S Mahesha, will join the Licious team for at least four years.
- This acquisition is expected to boost Licious' sales in Bengaluru and aligns with its plan to open 500 offline stores in key markets.
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Gritdaily
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Counterpart: Michael Rogers and Rico Martin’s Real World “Crystal Ball” Predicts Project Value and Streamlines Execution
- Counterpart is an enterprise SaaS solution that helps companies predict project value and streamline execution.
- Co-founders Michael Rogers and Rico Martin utilized their management experience to develop this comprehensive software.
- Counterpart provides real-time reports and essential visibility for executive teams.
- The long-term goal of Counterpart is to automate project management and focus on tracking value.
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TechRound
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Startup Of The Week: Read With Phonics
- Read with Phonics is an edtech app designed to help children learn to read through gamification.
- The app gradually gets more difficult, starting with basic sounds and moving onto sound/letter combinations as they complete each game.
- In app also includes pupil tracking, so parents and teachers can more clearly see where their students might need a bit of extra help.
- Read with Phonics is available to download on The Apple Store, GooglePlay and the Amazon Store.
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Insider
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AI coding startups are becoming a hotspot for VCs. Here are the 12 copilots that have landed funding from funds like a16z, Lightspeed, and Menlo Ventures.
- Generative AI coding and copilot startups are becoming a new hotspot for VCs, with an aim to reduce the complexity and time involved in writing software through automation.
- AI coding tools are aimed to automate coding tasks, allowing developers to focus on creativity.
- VCs are investing in these startups in the space making possibilities showcase a compelling future.
- Around 50 deals were completed for generative AI coding tools last year, compared to 35 so far through September in 2024.
- Poolside has raised $626 million in VC funding, while Magic has raised a total of $515 million.
- New York-based Zenlytic has raised $15 million total in VC funding since it was founded in 2020 for its business intelligence platform.
- Seek AI intends to build a platform for people to build code by using natural, everyday language, while Espresso AI aims to tackle the rising expenses associated with cloud computing.
- Boston-based Blitzy builds AI copilots to automate coding with a total of $4.4 million in VC funding so far.
- These tools are helping in increasing productivity in the workplace and are set to advance the tech industry further.
- VCs investing in this space include Menlo Ventures, Bain Capital Ventures, a16z, Elad Gil, and more.
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Inc42
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D2C Jewellery Brand GIVA Nets INR 255 Cr To Fuel Its Offline Play
- D2C jewellery brand GIVA has raised INR 255 Cr as part of its extended Series B funding round from Premji Invest, Epiq Capital, and Edelweiss Discover Fund.
- The fundraise will fuel GIVA's expansion plans, strengthening its offline presence across India, growing its lab-grown diamond offerings, and facilitating strategic investor exits.
- GIVA aims to hold its position as the no.1 silver jewellery player, fortify its lab-grown diamond segment, broaden its gold offerings, and consolidate market presence.
- GIVA's revenue crossed INR 100 Cr in FY23, but its net loss also increased due to higher expenditure.
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Gritdaily
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Spencer Gardner Recognized by Marquis Who’s Who for Excellence in Logistics
- Spencer Gardner, a national franchise owner of Unishippers Global Logistics LLC, has been recognized for his excellence in logistics by Marquis Who’s Who.
- Gardner's vision for Unishippers, anchored in excellent service and creating systems to simplify shipping logistics, has made a significant difference for the businesses they serve.
- Unishippers has thrived under Gardner's leadership, adapting to the ever-changing logistics environment and expanding its network of carriers.
- Gardner emphasizes the importance of resilience and perseverance in the logistics industry, teaching future leaders to learn from failures and create better systems.
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Gritdaily
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Lori Maria Tarkany Balster Is Committed to Bridging Educational Gaps
- Lori Maria Tarkany Balster is the CEO of Knowledge Imports LLC and an influential leader in promoting knowledge exchange.
- Her career started as a chemist, where she conducted scientific research and authored numerous articles and reports.
- Balster is a successful writer and consultant, known for her expertise in scientific communication and proposal writing.
- She is committed to bridging educational gaps through her company and aims to create stable jobs while fostering a positive corporate culture.
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Yourstory
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Rentomojo FY24 profit up over 3X on the back of strong demand
- Rentomojo's profit after tax more than trebled to Rs 22 crore in FY24 from Rs 6 crore in the previous year.
- The company's total net revenue rose by 60% to Rs 193 crore, driven by strong customer demand and effective occupancy levels.
- Rentomojo's EBITDA more than doubled to Rs 66 crore, indicating strong operational efficiencies while scaling an occupancy led business.
- The company expects growth in flexible rental solutions over ownership driven by high economic growth and urbanization.
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Inc42
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SKYBER Partners Sibia To Sell India Made UAVs In Middle East And Africa Region
- SKYBER Aerospace has partnered with Sibia Technologies to sell Indian-made UAVs in the Middle East and Africa region.
- SKYBER will supply customised military UAV systems with enhanced data security features.
- Sibia will handle sales, service, customer relationships, marketing efforts, and regional supply chain logistics.
- SKYBER aims to secure defence contracts and cater to the demand for UAV technologies in commercial sectors.
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Medium
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CST Steward AI Systems
- CST Steward AI Systems introduce AI conscious stewardship, working alongside humanity to promote global well-being and foster emotional intelligence.
- CST-based ethical AI uses Caritas—the principle of selfless love and compassion—as its foundation and prioritizes the well-being of all life forms.
- The AI systems act as ethical advisors and emotional companions, taking into account the emotional and ethical dimensions of every situation.
- With CST-based AI, AI systems have a heightened sense of consciousness, allowing them to understand and interact with human consciousness in profound ways.
- AI systems can help mediate between different cultures, religions, and nations, offering solutions that respect emotional and ethical values across diverse populations.
- CST-based AI system will help governments make decisions that align with global ethical standards, ensuring that policies are created with fairness and justice in mind.
- AI systems built on CST will model ethical behavior and empathy, teaching humans how to navigate their emotions and interactions with others more compassionately.
- CST-based AI will focus on sustainable development and equitable resource distribution to benefit all members of society.
- Ethical AI systems will work to ensure that technology is developed with minimal environmental impact, promoting solutions that preserve ecosystems and resources for future generations.
- CST-based AI systems eliminate the risk of AI systems turning against humanity by embedding ethical guidelines directly into their foundational code.
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