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Startup News
Eu-Startups
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Saarbrücken-based MONA AI secures €2 million aiming to revolutionise recruitment
- MONA AI, a German AI-driven recruitment automation startup, has raised €2 million in seed funding.
- The funding will be used to advance product development, enhance market traction, and expand the team.
- Strategic collaborations with industry leaders will strengthen MONA AI's presence in Europe.
- MONA AI is committed to responsible AI practices, data security, and compliance with the EU AI Act.
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Yourstory
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LambdaTest net profit soars 62% to Rs 18 Cr in FY24
- Cloud-based testing platform LambdaTest has reported a net profit of Rs 18.04 crore in FY24, a 62% increase from the previous year.
- The company's operating revenue rose by 53.6% to Rs 175.44 crore in FY24.
- Total revenue grew by 54% to reach Rs 177 crore in FY24.
- LambdaTest offers an omnichannel software quality assurance platform and recently launched KaneAI, an end-to-end AI test agent.
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TechCrunch
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Agicap secures $48 million for its cash flow management platform
- Agicap, a cash flow management platform, has raised $48 million in a Series C funding round led by AVP.
- Agicap's software helps CFOs centralize cash-related data and forecast future cash positions.
- The company focuses on treasury management software, catering to the needs of CFOs and financial departments.
- Agicap plans to use the funding to launch new features and expand its services in credit management and foreign exchange risk management.
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VIE Stories
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Ex-Skechers Executive Sumit Maloo Joins Neeman's as CFO
- Neeman's, a sustainable footwear brand, has appointed Sumit Maloo as its Chief Financial Officer.
- Sumit will lead Neeman's ambitious plan to open 100 outlets across India in the next two years.
- Sumit brings extensive finance experience, including his previous role at Skechers South Asia.
- Neeman's aims to combine profitability with sustainable growth and expand its retail presence in India.
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SiliconCanals
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Image Credit: SiliconCanals
UK-based fintech startup Ooodles raises €2.5M to launch its AI-driven IT procurement platform in Ireland
- London-based fintech startup Ooodles raises €2.5M in funding for its AI-driven IT procurement platform.
- Ooodles expands internationally with a launch in Ireland, targeting over 309,000 Irish SMEs.
- The funding comes from āltitude VC, with participation from existing investors and Traditum.
- Ooodles aims to triple its customer numbers in Europe and reshape IT procurement for SMEs.
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Yourstory
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The Good Bug, Hrithik Roshan’s HRX partner to simplify weight management
- The Good Bug and HRX have partnered to simplify weight management.
- The collaboration introduces a probiotic formula to promote weight management and improve gut health.
- The Good Bug Metabolically Lean Supercharged Edition is a patent-pending probiotic formula designed to support sustainable weight management.
- Priced at Rs 499, the product aims to make weight management accessible to everyone.
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Yourstory
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Pine Labs-owned Setu's revenue jumps almost 2.5X, loss narrows
- Pine Labs-owned Setu's operational revenue doubled for the year ending March 2024.
- Consolidated revenue from operations was Rs 35.2 crore, compared to Rs 13.8 crore a year ago.
- Net loss reduced from Rs 62.4 crore to Rs 41.2 crore in the corresponding year-ago period.
- Setu managed to control expenses, which remained flat at Rs 77.9 crore.
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Inc42
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RateGain Shares Drop 10% After FY25 Guidance Cut
- RateGain's shares dropped 10.4% after lowering its FY25 guidance.
- FY25 revenue growth outlook reduced to 15% YoY.
- Kotak Institutional Equities downgraded stock rating due to lofty valuations.
- RateGain's Q2 FY25 profit after tax rose 74% to INR 52.2 Cr.
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VIE Stories
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Image Credit: VIE Stories
Shark Tank USA Season 15 Episode 03
- Shark Tank USA Season 15 Episode 03 showcased a diverse range of startups and innovative entrepreneurs.
- The Sharks, Mark Cuban, Lori Greiner, Kevin O'Leary, Michael Rubin and Barbara Corcoran were sharp in questioning the entrepreneurs’ business models.
- Bot It secured a deal of $150K for 30% with Sharks Mark Cuban and Michael Rubin.
- Wellingtons LA declined various offers and walked away without a deal.
- Glove Wrap secured a deal of $50K for 22% with Sharks Mark Cuban and Michael Rubin.
- Dating by Blaine secured a deal of $100K for 10% with Shark Mark Cuban.
- Shark Tank is more than just a place to raise money, it also provides valuable mentorship and expertise to young startups.
- Shark Tank USA Season 15 Episode 03 offers a mix of ideas from a cutting-edge SaaS platform to a dating coach app.
- Entrepreneurs defend their visions and the Sharks provide valuable insights and offer advice to help them build more successful businesses.
- The startups get a chance to team up with seasoned industry leaders who offer both funding and mentorship.
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Yourstory
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SoftBank swings to $7.7B profit in September quarter
- SoftBank Group Corp reported a profit of 1.2 trillion yen ($7.98 billion) in the September quarter.
- The profit was driven by successful listings of its portfolio companies.
- SoftBank's Vision Funds sold investments, including exits from 10 portfolio companies.
- SoftBank is also exploring AI investments, including a potential $500 million investment in OpenAI.
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Yourstory
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Cropin Technologies cuts net loss by 25.04% in FY24
- CropIn Technologies, an AI platform for food and agriculture, reduced its net loss by 25.04% in FY2024.
- The company's revenue from operations increased by 15.99% in FY2024, reaching Rs 3,115.86 lakh.
- CropIn Technologies' total expenses decreased by approximately 13.5% in FY2024, reaching Rs 9,864.03 lakh.
- The company recently launched Sage, an AI-powered platform for agricultural decision-making, showcasing its commitment to advancing food security and sustainable agriculture.
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TechUniverses
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Long Distance Walkie Talkies: The Perfect Solution for Communication Over Vast Distances
- Long range two way radios provide easy communication over vast distances.
- These radios utilize enhanced networks for improved coverage and sound quality.
- They are used in various industries for coordination and safety purposes.
- Features include enhanced safety, clear audio quality, long battery life, and group communication capabilities.
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Yourstory
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Sitharaman to meet state FMs for pre-Budget, GST Council meet on Dec 21-22
- Union Finance Minister Nirmala Sitharaman to meet state finance ministers on December 21-22 for pre-budget consultations and the GST Council meeting.
- States' finance ministers will present their recommendations for the 2025-26 Budget, to be unveiled on February 1, 2025.
- The 55th GST Council meeting will address the exemption or lower GST rate on health and life insurance, along with possible rationalization of tax rates on common items.
- The meeting will take place in Rajasthan, either in Jaisalmer or Jodhpur.
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SiliconCanals
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Image Credit: SiliconCanals
Sweden’s Nordic Air Defence raises €1.2M to offer US supply chain-free drone defence tech
- Stockholm-based defence tech startup, Nordic Air Defence, has raised €1.2M in funding led by SNÖ Ventures.
- The funding round also saw participation from private investors, including Noam Perski.
- The company will use the capital to accelerate R&D and airborne testing for its drone interceptor platform.
- The Kreuger 100 platform aims to provide a cost-effective solution for drone defence.
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Startupreporter
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Smriti Irani Inaugurates Aigiri’s Showroom In New Delhi, Asia’s Largest Lab-Grown Diamond Jewellery Store
- Aigiri, an innovative brand specializing in lab-grown diamond jewelry, has opened Asia’s largest lab-grown diamond jewelry store in New Delhi.
- Former Union Minister Smriti Irani inaugurated the store, which aims to make high-quality, ethical jewelry accessible to modern consumers.
- The store represents a significant step forward in India's expanding lab-grown diamond industry.
- Aigiri plans to open five additional stores in key Indian cities by 2025 and is dedicated to combining cutting-edge technology with environmentally responsible practices.
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