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Startup News
Inc42
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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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Startupnation
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How E-commerce Startups are Scaling to Meet High Demand
- E-commerce revenue is expected to grow at an annual rate of more than 9% over the next five years.
- The demand for BNPL (buy now pay later) options remains an important consideration for e-commerce brands, with an estimated 79 million users in the US alone.
- Generative AI tools may change sales channels like Google Shopping, which account for “over half of UK retailers’ ad clicks” according to performance marketing agency KAU Media Group.
- Organic, authentic product recommendations are going to become more and more important to integrate into a strategy for launching new products, marketing your flagship items, and defining a unique approach when looking to scale an e-commerce business.
- Developing an enriching content calendar for your web page to stimulate your inbound marketing is essential to attract a larger customer base.
- Brands need to show authenticity in sales and marketing, pivoting toward authentic modes of communication, to attract a modern customer base.
- Initiatives like AI-powered upsell recommendations and loyalty programs will help brands tailor every touchpoint to the preferences of the customer to perfect their shopping experience.
- The modern e-commerce market is highly competitive and growing all the time. However, with a keen understanding of influential trends and the right principles for growth, startups can develop the business at a healthy rate and achieve their most high-priority goals.
- It's important to examine the broader trends shaping the ecommerce niche, and think about positioning the brand to benefit from these changes while planning for the future.
- Entrepreneurs must stay informed on generative AI search and must keep their finger on the pulse of these developments to focus their marketing on accommodating a generative search format.
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Yourstory
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Meet the founders revolutionising India’s entrepreneurial landscape
- New generation of entrepreneurs is redefining the landscape of business in India with innovative products and services.
- Arpit Mittal established SpeakX, an app that is transforming English language learning with advanced GenAI technology and large language models.
- Naveen Srinivas founded Ridaex to pioneer the development of advanced 'Future TVs', which are Friendly, Usable, Timely Upgradable, and Reverse Engineered—designed specifically for Indian consumers.
- Deepanker Mahajan launched CoverYou, India’s largest insurance broker exclusively for doctors, to create tailored insurance solutions for medical professionals.
- Suvrat Jain is the founder of Onward Workspaces, addressing the burgeoning demand for flexible environments by crafting adaptable office solutions.
- Jagdish Prajapat, the founder of Technetizens IT Services, is a global SEO consultant and recognised as one of the leading professionals in the field.
- Abner Dias, Founder of Team Building Global, works with major corporates to enhance employee engagement through team-building activities.
- Rajib Gangopadhyay is the Founder and Managing Director of EMotorad, a trailblazer in the electric mobility sector.
- Shashank Donthi leads the global expansion and digital transformation initiatives for all entities under the Hynetic umbrella.
- These founders are inspiring change, fostering inclusivity, and paving the way for future generations.
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Startupnation
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Beyond Greenwashing: Why Startups Need Authentic Sustainability Practices
- To build a brand identity that lasts, startups need to ensure they are authentically sustainable, according to this article. Businesses need to avoid greenwashing, where companies deceive the public into believing they are doing more to protect the environment than they actually are. This can result in fines and damage to a brand's reputation. Entrepreneurs need to take proactive steps to build an authentically sustainable business that grows without causing excessive harm to the natural world. This can include adopting advances in sustainable construction, and partnering with responsible businesses. Highlighting achievements will also build credibility.
- Supporting sustainable causes can win you the admiration of climate-conscious customers and help position your brand as eco-friendly. Finding ways to promote recycling, energy efficiency, and low-waste living may make your business eligible for tax credits and federal support, too. Understanding and avoiding greenwashing is vital, in order to build customer trust and ensure that eco-friendly changes are transparent. This article suggests that startups should explore the use of green construction methods and technology such as radiant heating and smart glass, which have low-energy alternatives to traditional heating and cooling.
- As startups grow, they will need to partner with more external stakeholders and find suppliers and PR firms. Researching businesses with a good environmental track record will help to cut down on emissions and find responsible partners. Highlighting sustainable achievements using qualitative data and long-term goals will build credibility. This article concludes that a commitment to meaningful changes, easy to track and reflecting a startup's desire to be authentically sustainable, is more likely to win loyal customers.
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Startup Pedia
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Once Freelancers, This Kolkata Couple Now Clocks Rs 2 Cr From PR Firm
- Anirban Bhattacharya’s first salary was just Rs 11,000.Today, along with Shreya Mukherjee, his offline and digital PR agency generates Rs 2 crore in annual revenues.
- In an exclusive interview with Startup Pedia, Anirban says, “I have always believed in one thing very firmly - “you can never fail, if you don't stop trying.”
- After a while, believing that they were ready to scale, Anirban and Shreya launched SEO Bloggers. It was their first startup - and also the first time they stepped foot in the market as founders and business owners.
- Anirban tells Startup Pedia, “Ever since I started working with Shreya, she has never let me weaken. In everything we have built from scratch, she is the backbone of it all. That is the power of partnership. My low points were met with her high spirits and vice versa.”
- In 2020, the couple finally launched The Rank Company. For Anirban and Shreya, it turned out that the fourth time was the charm.
- Anirban and Shreya recently co-founded Startup10X. Startup10X creates a targeted marketing campaign for its clients taking into account their specific objectives for the exercise.
- At Startup10X, Shreya Mukherjee and Anirban Bhattacharya help startup founders and entrepreneurs build their brand reputation, raise funds, attract the right investors, and ultimately become industry leaders.
- In just a span of 6 months, Startup10X has worked with 250+ clients coming from all kinds of industries. The firm has published 50,000+ articles and helped early-stage startups raise a collective funding of over $250 million.
- In the future, Anirban and Shreya want to build an ecosystem that helps startups grow from scratch. Anirban signs off by saying, “We want a place where ideas are celebrated.
- Startup10X has clocked a revenue of $250,000 in six months.
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Inc42
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Govt Mulls Action On Quick Commerce Platforms Not Displaying Expiry Dates
- The Central Consumer Protection Authority (CCPA) is planning to take action against quick commerce platforms that do not display expiry dates for grocery and daily essential products.
- Complaints received through the National Consumer Helpline are being considered by the CCPA.
- Platforms like Swiggy Instamart, Zomato's Blinkit, and Zepto are not showing best before dates, leaving consumers to receive products close to their expiry without options.
- Regulatory scrutiny on quick commerce players has been increasing due to concerns about hygiene, product quality, and non-compliance with packaging regulations.
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VIE Stories
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[Funding News] UrjaMobility Raises $12 Mn pre-Series A Funding
- UrjaMobility has secured $12 million in a pre-Series A funding round, including debt and equity funding.
- The funding will be used to expand operations, improve the cost-per-use leasing model, focus on the e-mobility industry, and extend solutions in energy consumption and supply chain management.
- UrjaMobility offers an innovative pay-per-use leasing model for customers to lease batteries based on the number of kilometers traveled.
- Founded in 2022, UrjaMobility provides battery leasing options for various commercial EV classes.
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Hitconsultant
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clock.bio Raises $5.3M to Decode Human Rejuvenation, Develop Anti-Aging Therapies
- Clock.bio, a healthspan biotechnology company, has raised $5.3M in seed funding to advance its research on human rejuvenation.
- The company uses human induced pluripotent stem cells (iPSCs) to study the natural rejuvenation mechanisms.
- Over 100 genes that play a crucial role in the rejuvenation process have been identified.
- Clock.bio aims to develop novel treatments for age-related diseases and increase human healthspan.
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Inc42
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After CCPA Notice, Govt Amps Up The Heat On Ola Electric
- The Ministry of Heavy Industries (MHI) has written to ARAI to verify if Ola Electric is honouring warranties and maintaining service centres.
- Wrongdoing by Ola Electric could lead to loss of incentives under FAME-II and PLI schemes.
- MoRTH plans to approach the consumer protection watchdog regarding complaints against Ola Electric.
- CCPA will pursue class action against Ola Electric for unresolved complaints and violations.
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TechCrunch
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Health insurtech startup Qantev raises €30 million to outperform LLMs with small AI models
- Qantev, a health insurtech startup, has raised €30 million in a Series B funding round.
- Qantev provides software that helps health and life insurance providers manage claims using AI models.
- The software automates processes such as determining medical necessity, pricing, and detecting fraudulent bills.
- Qantev plans to use the funding to expand its team, support international growth, and become a platform for health insurance operations.
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Inc42
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Andrew Ng’s AI Fund Marks Maiden India Bet With AI Healthcare Startup Jivi
- Andrew Ng’s AI Fund has made its first investment in India by backing healthcare startup Jivi AI.
- The financial details of the deal were not disclosed.
- Jivi AI combines AI-powered diagnostics with human validation from doctors to provide personalized health reports.
- The interdisciplinary team at Jivi AI aims to leverage AI to transform healthcare.
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VIE Stories
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Amazon Partners with Startup India to Help E-commerce Startups
- Amazon India has partnered with Startup India to empower Indian startups through e-commerce.
- A dedicated landing page will be created on the Startup India website to onboard startups as sellers on Amazon.
- The partnership will provide startups access to Amazon's vast network and mentorship opportunities.
- Amazon and Startup India will also collaborate on the BHASKAR project to centralize communication within the entrepreneurial ecosystem.
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Economic Times
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Startups raise $10 billion in July-September quarter, down 15% QoQ: report
- Startups raised $10 billion in the July-September quarter, marking a 15% decline in total funding compared to the previous quarter.
- The number of deals also fell by 30%, dropping from 318 in Q2 to 229 in Q3.
- Top funded startups include PhysicsWallah, Zepto, and Rapido.
- Debt deals surged to $4.2 billion, accounting for 40% of the total capital raised.
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ISN
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Aerial intelligence platform Aereo raises $1.8 million as part of Series B round
- Indian aerial intelligence platform Aereo has raised $1.8 million in a Series B funding round led by JSW Ventures.
- The funding will be used to strengthen Aereo's commercial drone solutions and support its expansion into international markets.
- Aereo utilizes drone technology and AI-driven data analytics to enhance asset management across various industries.
- The startup plans to enter key international markets and has filed 15 patents related to drone technologies.
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Economic Times
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Boat reports 5% revenue decline in FY24, net loss halves
- Homegrown brand Boat reported a 5% decline in revenue for FY24, with a net loss reduction of 48% to Rs 70.8 crore.
- Boat's revenue decreased from Rs 3,284.7 crore in FY23 to Rs 3,121.6 crore in FY24.
- The company noted a flat audio business and decline in headphone and speaker segments in the second half of FY24.
- Boat aims for improved Ebitda and profit margins in FY25, focusing on cost optimization and reduction of expenses.
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