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Startup News
ISN
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LAPP India appoints Sumit Mitra as Managing Director to spearhead growth and innovation
- LAPP India has appointed Sumit Mitra as Managing Director to spearhead growth and innovation, effective 1st November 2024.
- Sumit Mitra brings a wealth of experience driving operational excellence and market growth in Indian enterprises and MNCs.
- In his new role, he aims to transform LAPP India into a leading player in cable and connectivity solutions, scaling product offerings and introducing industry-first technologies.
- LAPP India provides cable and connection solutions, including power and control cables, data communication cables, industrial connectors, and harnessing solutions.
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Eu-Startups
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Berlin-based Connecty AI raises over €1.6 million aiming to solve enterprise data’s three-dimensional problem
- Berlin-based Connecty AI has raised over €1.6 million in pre-seed funding.
- Connecty AI offers a platform to streamline data management, aiming to reduce manual analysis by up to 80%.
- Their context engine navigates three key dimensions of enterprise data: varied data pipelines, diverse data usage patterns, and knowledge distributed among teams.
- The funding will help Connecty AI expand its capabilities and offer an API for further integration.
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Yourstory
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Indian students can still get Canada visa despite end of SDS programme. Here's how
- Canada has announced the end of the Student Direct Stream (SDS) visa programme, which provided faster visa processing for international students, including Indians.
- Indian students, who were the largest beneficiaries of the SDS programme, can still apply for Canadian educational institutions through the regular permit category.
- To apply through the regular permit category, students need to secure admission from a recognized Canadian institution, fill out the required form, and pay the application fee.
- Students applying through the regular permit category need to show proof of financial support, provide IELTS/TOEFL scores, and start the process early to meet academic deadlines.
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Startup Pedia
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Frustrated by subpar petcare, Hyderabad pet parents launched game changing platform
- Petfolk, a pet care start-up, is offering direct services rather than just being an aggregator app that brings together pet services. Founder Laxmikanth Puducherri wanted something for pet owners to simplify caring for pets, thus, giving birth to Petfolk. Its initial offering was mobile pet grooming, which was consistent with its mission of making quality pet services accessible to all at an affordable price. Petfolk introduced mobile grooming vans that have switchable glass, so pet owners can monitor the grooming process. Its grooming bikes were also introduced to address logistical delays caused by traffic.
- Pet owners can get comparable grooming services from Petfolk at their doorstep for INR 900 compared to traditional grooming centers that charge around INR 1,000. This pricing strategy has earned it a dedicated customer base with repeat customers making up 2,000-3,000 of the over 40,000 pets it has served. Petfolk has built on this success by diversifying into pet food, clothing, and insurance plans and has formed multiple revenue streams.
- In its expansion, Petfolk also introduced physical grooming centers strategically located in Hyderabad and Vizag and has extended mobile services to Goa. Petfolk meets broader pet care needs such as insurance, toys, and premium pet products and aims to capture India’s pet care market across cities and towns with the emphasis on accessibility and affordability. Its future plan includes launching pet supplements to bridge dietary gaps Tier 2 and Tier 3 cities.
- To maintain service standards, Petfolk established a pet grooming institute to train and certify its staff. The startup, which reported INR 1 Crore in revenue last year and is now valued at INR 35 crore, aims to achieve a Rs. 2,000 Crore valuation within the decade.
- Petfolk envisions becoming a leader in pet care, creating happy and healthy pet lives. It combines inspiration with strategic foresight. The startup plans to expand with additional outlets planned for Hyderabad by Sankranti, grooming bikes getting launched in Goa, and the eagerly anticipated pet supplements set for launch in January.
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SiliconCanals
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Dutch AI startup Iki.ai raises funds from Golden Egg Check to advance its knowledge management platform
- Dutch AI startup Iki.ai has raised funds from Golden Egg Check to advance its knowledge management platform.
- Iki.ai is an AI-powered platform that streamlines research and knowledge management for professionals and teams.
- The platform offers features such as AI-driven synthesis, natural language querying, and OCR to make content searchable.
- Iki.ai is used for academic research, professional development, content creation, project management, and personal knowledge management.
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VIE Stories
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Tiggle Brings India’s First Hot Chocolate Brand to Shark Tank India
- Anuva Kakkar is the founder of Tiggle, a hot chocolate brand.
- Tiggle, headquartered in Agra, was founded in 2020 and falls under the Food and Beverage Services sector.
- Tiggle received an investment and has a valuation of Rs. 2.5 Crore.
- During the episode of Shark Tank India, Tiggle secured a deal and gained valuable mentorship from the judges.
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VIE Stories
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Upliance.ai brings smart home appliance to Shark Tank India
- Upliance.ai, a household appliance manufacturing company, appeared on Shark Tank India with its smart home appliance.
- Founded by Mahek Mody and Mohit Sharma, Upliance.ai offers a personal cooking assistant with AI chatbox available in multiple Indian languages.
- Their product includes a touchscreen with guided recipes, presets for cooking tasks, and an integrated weighing scale.
- During the show, they sought an offer of Rs. 1 Cr. for 1% equity, valuing the company at Rs. 100 Cr.
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Yourstory
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Building Tomorrow's Tech Hub: Rajasthan's IT & Startup Pre-Summit Takes Centre Stage
- Rajasthan is positioning itself as a hub for innovation and entrepreneurship.
- The Information Technology & Startup Pre-Summit aims to showcase Rajasthan's potential and discuss the use of AI and technology.
- iStart Rajasthan is supporting innovation and skilling to foster a thriving startup ecosystem in the state.
- The Pre-Summit serves as a precursor to the Rising Rajasthan Global Investment Summit, emphasizing sustainability and private-sector engagement.
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AllTopStartups
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Designing a Collaborative Physical Workspace for Startups
- Creating a collaborative and motivating workspace is crucial for any startup aiming to foster teamwork and innovation.
- Understanding the needs of a startup environment: flexibility and team collaboration are essential.
- Key design elements for a collaborative workspace: open floor plans, flexible furniture, and breakout zones.
- Importance of integrating technology, balancing open spaces with privacy needs, and creating a comfortable and sustainable atmosphere.
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AllTopStartups
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5 Steps to Assessing a Company’s Investment Viability
- When investing, it is important to choose an environment that is likely to support growth
- Estimate the Company’s Future Cash Flow using the Discounted Cash Flow (DCF) model
- Evaluate Industry Position and Market Potential
- Review Management and Leadership Quality
- Examine Growth Potential and Expansion Plans
- Assess the Risks and Potential Return On Investment
- Consider aspects such as consistency in cash flows and management prowess
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TechCrunch
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Swiggy’s public debut will test India’s appetite for $1B+ IPOs
- Swiggy’s upcoming IPO will test the Nation's appetite for IPOs that can scale past the $1 Billion mark.
- Swiggy has already secured $1.4 Billion from institutional investors including Norway’s sovereign wealth fund, BlackRock, and eight of the top 10 Indian mutual funds.
- The Indian market has shown little interest in large-scale IPOs, where startups that raised less than $500 million have performed much better.
- Swiggy is seeking a $11.3 billion valuation, but rival Zomato's stock has surged over 100%, reaching a market cap high of $29 billion.
- Swiggy is among the dozen firms attempting to disrupt the $1.1 trillion Indian retail market that is still dominated by millions of mom-and-pop stores.
- Quick-commerce firms are changing consumer behavior in urban Indian cities, which together are on track to record sales of more than $6 Billion this year.
- Underpinning its quick-commerce business model, Swiggy operates over 600 such facilities while Zomato’s Blinkit ended the September quarter with 791 stores.
- Swiggy co-founder Sriharsha Majety believes the percentage of e-commerce in Swiggy is going to have a dramatic change.
- Swiggy’s IPO will show how willing investors are to bet on business models that prioritize growth over profits amid challenging global conditions.
- For Dutch investor Prosus, Swiggy’s listing could deliver a three-fold return. It will also be the venture firm’s biggest hit from India.
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AllTopStartups
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How Can You Build Strong Brand Loyalty in a Competitive Service Market? Expert Strategies Revealed
- Building strong brand loyalty is essential for businesses to stand out in a crowded service market.
- Creating an emotional connection with customers by providing excellent customer service and meeting their demands is crucial.
- Aligning products or services with customers’ values can lead to more meaningful and lasting connections.
- Community building, reward programs, and addressing feedback quickly can further strengthen customer loyalty.
- Brand loyalty indicates a strong emotional commitment that can withstand better pricing by competitors and create a steady revenue stream.
- High-quality customer experiences are crucial in competitive service markets to retain customers and build loyalty.
- Successful strategies to build brand loyalty include delivering exceptional customer service, creating engaging loyalty programs, leveraging social proof and testimonials, and maintaining consistent brand messaging.
- Consistent branding in all communications can help build a strong brand image.
- Engaging with clients through feedback and communication, delivering consistent quality and value, transparency, and trust play a significant role in encouraging loyalty.
- Understanding customer needs, implementing loyalty programs, and maintaining transparency and trust can help create a loyal customer base.
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Startupreporter
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Amid FTA Uncertainty between India and the UK, Consider Self-Sponsorship as a Solution for UK Immigration
- Indian businesses recognize the opportunities offered by the UK as an international destination, but a restrictive immigration and visa regime poses a barrier to trade and investment.
- With a Free Trade Agreement (FTA) between India and the UK yet to materialize, self-sponsorship is seen as a solution for UK immigration.
- The self-sponsorship system, pioneered by A Y & J Solicitors, allows overseas entrepreneurs to establish UK limited companies from abroad and sponsor themselves for a Skilled Worker visa.
- According to research, an FTA with the UK would encourage Indian businesses to explore opportunities, and it has the potential to increase bilateral trade to more than $100 billion by 2030.
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Medium
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Nordic Tech #6: From Notion to Motion — Meet Tana
- Tana is a knowledge management SaaS platform that offers a highly adaptable and AI-powered system for organizations.
- Tana's Supertags™ enable users to categorize and structure content and workflows with multiple attributes, promoting efficient data organization.
- Tana features innovative tools like voice recording with AI integration and a meeting agent that creates summaries and automates follow-up tasks.
- With a diverse customer base, including enterprise clients like Apple, Tesla, and Amazon, Tana differentiates itself with its AI-driven knowledge structuring and agility.
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Startupreporter
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Engineering Education in India Needs a Modern Makeover – Vineet Gupta, Founder of Plaksha and Ashoka Universities
- Vineet Gupta, Founder of Plaksha University, emphasizes the need to revamp engineering education in India to prepare engineers for real-world applications.
- Gupta advocates for a hands-on approach in engineering education, focusing on practical, project-based learning and industry engagement.
- He emphasizes the importance of interdisciplinary learning to address complex challenges and the broader impacts of technology.
- Gupta highlights the need to align academic programs with the skills required in the modern job market and cultivate lifelong learning and adaptability in engineers.
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