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Eu-Startups
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Paris-based Qantev raises €30 million to continue building AI-driven claims platform for health and life insurers
- Paris-based Qantev raises €30 million in a funding round led by Blossom Capital.
- Qantev plans to enhance its platform and add advanced AI modules to optimize claims processing.
- The company aims to recruit top-tier AI and engineering talent and expand its presence in North America and Asia.
- Qantev's AI-driven software automates claims processes for health and life insurers, reducing costs and improving efficiency.
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SiliconCanals
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Polish startup Kodano Group secures €9.3M from the Vinci Da Gama Fund: Know more
- Polish startup Kodano Group has secured €9.3M funding from the Vinci Da Gama Fund, managed by Vinci S.A.
- The funding will be used to expand into European markets and develop the optical lens laboratory.
- Kodano plans to expand its network of stores, boost e-commerce sales, and develop automated contact lens vending machines.
- The investment from Vinci S.A. will support Kodano's international expansion and position it as a major player in the European eyewear and contact lens market.
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Yourstory
1M
4
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Economy Process Solutions bags Rs 100 Cr in Series A funding from Stakeboat Capital
- Economy Process Solutions has secured Rs 100 crore in Series A funding from Stakeboat Capital Fund II.
- The company will utilize the capital to accelerate growth, expand its product range, and enter new categories like F&B solutions.
- Economy Process Solutions aims to grow its domestic and export businesses driven by industries such as waste management, pharma, and chemicals.
- The funding will help increase the competitiveness of 'Made in India' products in the capital equipment industry.
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Inc42
1M
437
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IndiaAI Datasets Platform To Go Live By January To Accelerate AI Innovation
- The IndiaAI Datasets Platform, part of the IndiaAI Mission, will go live by January.
- The platform aims to streamline access to high-quality, non-personal datasets for AI innovation.
- It will serve as a repository for diverse datasets and enable easy accessibility to researchers.
- The platform will have data from central and state governments, private sector and partnerships.
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TechBullion
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Silicon Alley: The Rise of Startups and the Digital Revolution in NYC
- New York City has transformed into a vibrant hub for tech innovation known as Silicon Alley.
- Silicon Alley emerged in the late 1990s as a response to the dot-com boom, attracting tech enthusiasts from diverse backgrounds.
- NYC's tech scene evolved into more than just a geographical term, transforming into a vibrant ecosystem where ideas can flourish.
- New York City is the birthplace of numerous iconic startups that reshaped industries such as Etsy, Warby Parker, and BuzzFeed.
- The digital revolution has reshaped New York City's economy in profound ways, with startups no longer being confined to Silicon Valley.
- Startups are harnessing emerging technologies such as AI, blockchain, and health tech to redefine industries.
- Growth of startups has led to soaring rents in Manhattan, pushing out long-standing businesses and residents.
- The diversity within the tech scene is often questioned, with equal access to opportunities for underrepresented groups being a concern.
- Competition among startups can create an unsustainable environment, leading to a high rate of failure.
- New York City is poised to remain at the forefront of tech innovation with sustainable and socially impactful investments, collaborations between established corporations and startups, and shift towards flexible workspaces.
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TechCrunch
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BaCta is using engineered bacteria to grow natural rubber and slash CO2 emissions
- French start-up baCta uses genetically engineered E.coli bacteria to create natural rubber in a lab using glucose as its feedstock. The company recently recieved €3.3m ($3.6m) in funding to help it find ways to industrialise its process and tackle the challenge of producing raw material on the scale required by other manufacturers.
- More than 50% of the world's rubber is synthetic and produced from petroleum. Natural rubber is harvested from Hevea trees' latex. The ways of producing both types are not great from a sustainability perspective.
- If a renewable raw material like biosynthesised natural rubber can be created, there would be a clear incentive for manufacturers to switch to a more sustainable option and reduce carbon footprint.
- BaCta's CEO Mathieu Nohet is adamant that its biosynthesised natural rubber can compete with non-sustainable options if scale is achieved. He believes the company's polymerisation mechanism inside the E.coli cells creates more significant yields and cost efficiency when using different feedstocks.
- Nohet has stated that his start-up hopes to target luxury fashion and apparel brands initially and then expand to industry once it has figured out scaling.
- BaCta hopes to reach pilot scale in 18 months and receive pre-industrial scale funding in addition to the funding recently secured from OVNI Capital, another.vc, Kima Ventures and Sharpstone Capital.
- As genetically engineered natural rubber production removes specific proteins that trigger allergies, the start-up views biosynthesised natural rubber as potentially hypoallergenic.
- BaCta also has plans for producing carbon neutral isoprenoids for use in industrial and pharmaceutical production.
- Rubber is an understandable, familiar product that can be approached an initial step towards wider missions.
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SiliconCanals
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France-based Qantev secures €30M to expand its AI claims platform for health & life insurance
- France-based Qantev has raised €30M in a funding round led by Blossom Capital.
- Qantev provides an AI-powered platform for health and life insurance.
- The platform automates claims processing, reducing time and costs for insurers.
- Qantev plans to use the funds to enhance its platform, recruit top talent, and expand internationally.
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Yourstory
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351
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Ratan Tata: The quiet force behind many startup successes
- Tata Group Chairman Emeritus Ratan Tata is credited with pioneering investments from the corporate world into Indian startups such as FirstCry, Lenskart, and Ola Electric.
- Tata has invested in close to 45 Indian startups, including Paytm, Snapdeal, Curefit, and Bluestone.
- Many of Tata's investments have yielded significant returns, with gains close to 450% in the case of FirstCry and a 23,000% return from Upstox.
- Apart from funding startups, Tata has had advisory roles at venture capital firms Kalaari Capital, Chiratae Ventures, and Jungle Ventures.
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Yourstory
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Farewell, Ratan Tata: India Inc. remembers the visionary Tata Group scion
- Padma Vibhushan Ratan Tata, Chairman Emeritus of the Tata Group, passed away at the age of 86 on 9th October, in Mumbai.
- Late to the social media scene, Tata kept everyone updated on his work, and debunked rumours, even in his last days.
- Today, the stalwart rests in peace, but his work will forever live on.
- Chairman N. Chandrasekaran said, “It is with a profound sense of loss that we bid farewell to Mr. Ratan Naval Tata, a truly uncommon leader whose immeasurable contributions have shaped not only the Tata Group but also the very fabric of our nation.”
- Business leaders across the globe mourned this grave loss.
- Google and Alphabet CEO Sundar Pichai recalled his last meeting with Tata, who supported the progress of Waymo.
- Reliance Industries Chairman Mukesh Ambani wrote, “Ratan Tata’s passing away is a big loss, not just to the Tata Group, but to every Indian. Mr Tata took India to the world and brought the best of the world to Bharat.”
- Adani Group Chairman Gautam Adani paid tribute to Tata, referring to him as "a giant, a visionary who redefined modern India’s path."
- Anand Mahindra, Chairman of the Mahindra Group, expressed his sorrow, emphasising the impact of Tata’s contributions to India’s current economic momentum.
- FICCI President Anish Shah remembers Mr Ratan Tata as a role model who embodied the values of integrity, humility, and social responsibility.
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VIE Stories
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Eco-friendly Diwali Gifts Ideas for 2024
- Clan Earth offers an exclusive range of sustainable and eco-friendly Diwali gift kits.
- Some eco-friendly Diwali gift ideas include upcycled coconut shell candles, bamboo cutlery set, tote bag, eco-friendly notebooks, DIY gardening kit, terracotta bottle, and organic soaps.
- Choosing eco-friendly Diwali gifts showcases care for the environment and encourages others to use such products.
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StartupDaily
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Bailador drops another $5 million into fintech DASH to acquisition ambitions
- Bailador invests an additional $5 million in fintech Dash Technology Group.
- The investment will fund Dash's acquisition of Integrated Portfolio Solutions (IPS).
- Dash is a cloud-based financial advice and investment management software platform.
- The acquisition will allow Dash to provide a comprehensive technology solution for wealth management.
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Minis
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Ratan Tata’s Startup Picks: A Look into His Top Investments
- Ratan Tata, the former chairman of Tata Group, passed away at 86 on Wednesday. Known for expanding India’s largest conglomerate, Tata also played a key role in supporting startups before they became industry leaders.
- His notable investments include Urban Company, CashKaro, BlueStone, CarDekho, and Tracxn. Additionally, he backed Kaaryah (women's wear), GrowTech (BPO services), Karkinos Healthcare (cancer care), and Mailit (dispatch aggregator).
- His vision helped these startups grow into successful enterprises. Tata's legacy extends beyond business, reflecting his commitment to nurturing innovation and entrepreneurship in India.
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Inc42
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Startup Ecosystem Mourns The Demise Of Industry Titan Ratan Tata
- Indian startup ecosystem mourns the demise of industry titan Ratan Tata.
- Tata, aged 86, passed away at Mumbai's Breach Candy Hospital.
- Tata was widely known for his philanthropy and was an inspiration for millions.
- He was an active investor in the Indian startup ecosystem, backing giants like Paytm and Urban Company.
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VIE Stories
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Bellatrix Aerospace and NSIL Sign MoU to Integrate Bellatrix’s OTV
- Bellatrix Aerospace and NSIL have signed an MoU at the Bangalore Space Expo 2024.
- The partnership aims to integrate Bellatrix's Pushpak Orbital Transfer Vehicle (OTV) in NSIL's launch missions.
- The collaboration will help capture a larger global market for rideshare missions.
- This partnership highlights the significance of public-private collaborations in the Indian space industry.
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Inc42
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315
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Centre Working On New PLI Scheme For Drone Sector
- The government is planning to introduce a new PLI scheme for the drone sector.
- The new scheme aims to be more effective in terms of implementation and documentation.
- The previous PLI scheme had onerous procedures for startups and MSMEs.
- The drone sector needs to be categorized into civilian use, security/defence forces use, and rogue/unregulated use.
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