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Startup News
ISN
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Hyderabad-based identity verification startup Equal raises $10 million
- Hyderabad-based identity verification startup Equal has raised $10 million in its first round of institutional funding.
- The funding round was led by Prosus Ventures, Tomales Bay Capital, and Equal's founder, Keshav Reddy.
- Equal's valuation has reached $80 million after the investment.
- The company plans to utilize the funds to scale up operations, form strategic partnerships, and develop a comprehensive framework for India's data-sharing ecosystem.
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Eu-Startups
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Stockholm-based DREM secures €1 million to expand heat pump technology
- Stockholm-based DREM raises €1 million in funding to expand its affordable, smart heat pump technology.
- The investment will support DREM's expansion into France, the largest European market for heat pumps.
- DREM aims to simplify heat pump purchases and reduce operational costs through innovative technology.
- Despite challenges, including a mild winter and rising interest rates, DREM has achieved strong performance and plans to double sales by the end of 2024.
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VIE Stories
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Top Clothing Brands in India for 2025
- India's fashion industry is rapidly growing with the rise of social media
- FabIndia celebrates India's rich textile heritage by providing a wide collection of ethnic wear
- Manish Malhotra's brand combines traditional and modern styles, making it a favorite among Bollywood celebrities and fashion lovers
- Sabyasachi Mukherjee's brand is known for its bridal couture and exceptional craftsmanship
- Ritu Kumar's collections are a popular choice for those looking for timeless elegance in ethnic wear
- Biba focuses on affordable ethnic wear catering to all women
- Van Heusen is popular for its smart and stylish formal wear designs for professionals
- W for Woman blends traditional style with modern elements to provide variety of ethnic wear for women
- Allen Solly provides a wide range of casual and formal western clothing for both men and women
- Levi's is well-known for denim jeans and casual wear for both men and women
- Puma is a popular global sportswear brand known for its stylish and comfortable activewear in India
- Myntra revolutionized online fashion retail in India and provides a wide range of clothing from various brands
- Adidas is a popular sportswear brand in India known for great quality and performance apparel and footwear
- Zara, a Spanish brand, provides affordable and stylish fast fashion clothing for young fashion lovers in India
- Max Fashion, an Indian brand, provides budget-friendly stylish clothes for men, women, and children
- India's fashion industry offers options for every taste, budget, and preference
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Yourstory
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FirstCry parent Brainbees Solutions completes GST inspection
- Brainbees Solutions, the parent company of FirstCry, has completed its four-day GST inspection that was initiated on November 6.
- The company made a payment of Rs 1.74 crore, including interest due to discrepancies in GST returns—GSTR-3B and GSTR-2A—during the financial years 2018-19, 2019-20, 2020-21 and 2022-23.
- Brainbees Solutions provided explanations regarding GST implications on the amount paid towards IPO expenses and fully cooperated with the officials during the inspection.
- The inspection has not impacted the company's operations, and it will provide material updates to the stock exchanges if necessary.
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Inc42
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Can Perceptyne’s Robot Army Become The New Growth Engine For ‘Make In India’?
- Perceptyne Robots, headquartered in Hyderabad, develops dexterous robots which are capable of replicating human-like precision needed to perform intricate tasks across industries. Raviteja Chivukula, the founder, believes in creating an army of human-like robots equipped with tactile sensors and AI-driven no-code trainability. Incepted in 2021, the startup has two flagship robots that are capable of performing varied tasks from assembling torchlight, headlight to automotive brake assembly and mobile phone assembly.
- Perceptyne's robots are significantly more intelligent than the likes of ABB, Yaskawa, and other industrial robots, which can perform only a specific set of tasks. The company has designed its software in-house using NVIDIA's foundational models in computer vision and comes with no-code programming capabilities. The hardware components, like motor controllers and gearboxes, which are not generic to the robotics industry, can be used separately across patient biomechanics.
- Perceptyne Robots has raised $3 Mn from Endiya Partners, Yali Capital, Whiteboard Capital, and a few other angel investors. The startup plans to deploy its robots in the ecommerce warehouses and food industry plants, with manufacturing and automotive industry being their primary focus. Perceptyne's immediate priority is to roll out its robots in India, followed by the US market.
- The robotics industry is set to surpass $29 Bn in size by 2029 from $17 Bn in 2024; hence the increasing competition from global leaders could be a concern for the startup. However, the labour shortage in the US and increasing traction towards innovation make it a considerable market opportunity for Perceptyne.
- The company seeks to bring scalibility to robots that can perform highly complex tasks, one which Chivukula mulled over a decade ago while interning for a company creating vending machines. The founder is convinced that AI-driven general-purpose robotic automation is the future, and this conviction is what led to the incorporation of his robotics start-up.
- Perceptyne's two flagship robots that can perform varied tasks are named PR-9D and PR-34D. The company sees a vast market opportunity for its robots in the US and plans to enter after deploying robots in India.
- The startup aims to employ its robots primarily in e-commerce and food industries once the robotics are used widely in the manufacturing and automotive industry. Initially established in 2021, the startup operation began in 2022.
- Perceptyne's PR-9D and PR-34D are semi-humanoid robotic arms equipped with AI-driven no-code trainability and tactile sensors that are designed to disrupt the electronics and automotive manufacturing sectors.
- Perceptyne's software comes with no-code programming abilities and is developed in-house, using NVIDIA's foundational models in computer vision. The startup designs most of its hardware in-house, including motors and gearboxes that are patient biomechanics-specific and cannot be used standardly across other robotics domains.
- Perceptyne intends to stay away from robotics use cases requiring locomotion, which founder Chivukula feels are well-covered by other robots.
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Eu-Startups
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The Hague-based Bubty raises €3 million to expand global freelancer compliance solution
- Dutch company Bubty has raised €3 million to expand its solution, Bubty Services.
- Bubty Services helps companies comply with local laws while managing freelancer engagements.
- The platform evaluates the employment relationship and provides an Agent of Record (AOR) service if needed.
- The funding will help Bubty scale Bubty Services globally.
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TechRound
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Startup Of The Week: Dubs
- Dubs is a startup that launched in August 2022, specializing in stylish, comfortable, and sustainable children's shoes.
- The brand focuses on durability and quick growth using sustainable materials, offering products such as Dubs Flex and Dubs Glide.
- Dubs designs shoes without elements like laces, making them easier for children to wear, and offers a re-sale program for exchanging or buying second-hand shoes.
- The company stands out for its commitment to sustainability and addresses the growing market demand for sustainable kids' footwear.
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TechCrunch
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Brazilian fintech Tako emerges from stealth with sizable seed round led by a16z and Ribbit Capital
- Brazilian fintech Tako has emerged from stealth with a $13.2 million seed round led by a16z and Ribbit Capital.
- Tako is an employee life cycle platform that automates tasks like onboarding and payroll, targeting mid-market white-collar companies in Brazil.
- The platform uses an LLM to keep up with the frequently changing labor laws and union rules in Brazil.
- Tako plans to use the funding for research and development, expanding its features, and doubling or tripling the R&D team.
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Yourstory
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Indian female gamers make up 44% of the country’s gamers: Lumikai report
- Indian female gamers now make up 44% of the country’s gaming population, according to a report by Lumikai.
- The Indian gaming sector is valued at $3.8 billion and is projected to reach $9.2 billion by FY29.
- The report also highlights that India is the world’s second largest market for mobile gaming downloads.
- Despite revenue growth, taxation challenges in real-money games segment impact profitability, the report states.
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Medium
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When considering investment opportunities in 2024, here are some options that could offer strong…
- Renewable Energy: Investing in ETFs like iShares Global Clean Energy ETF or SolarEdge Technologies could yield positive results as global demand for green energy solutions grows.
- Real Estate: Industrial real estate and multi-family residential properties in growing cities like Austin, TX, or Raleigh, NC, can offer consistent returns.
- Cryptocurrency: Cryptocurrencies like Bitcoin and Ethereum continue to attract attention, but investments should be approached with caution due to market volatility.
- Healthcare and Biotech: Companies focused on gene therapy, AI-powered diagnostics, and vaccines, such as Moderna and Pfizer, could prove lucrative in the growing healthcare industry.
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Yourstory
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286
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Algorand Foundation, T-Hub announce investment in 5 startups
- Algorand Foundation and T-Hub have announced the investment in five startups.
- The selected startups are building blockchain applications for supply chain management, product authenticity, cross-border trade, and project finance.
- The startups include LW3, FilmFinance, FDP Connect, Astrix, and ARVO.
- The investment aims to support these startups in delivering transparency, authenticity, and sustainability to companies and customers.
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Eu-Startups
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Milan-based Satispay secures €60 million to expand its mobile payments and employee benefits platform
- Milan-based mobile payments unicorn Satispay raises €60 million in funding.
- Funding strengthens partnership with key investors and brings total funds raised to over €500 million.
- Satispay aims to expand its services and customer reach, serving over 5 million users and 380,000 merchants.
- The company plans to launch new investment services and solidify its position in mobile payments and employee benefits.
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Inc42
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ED To Summon Flipkart, Amazon Over FDI Rules Violations: Report
- The Enforcement Directorate (ED) plans to summon executives of Flipkart and Amazon over alleged violations of FDI laws in the ecommerce sector.
- ED conducted raids in Delhi NCR, Mumbai, Bengaluru, Gurugram, and Hyderabad based on alleged violations of FEMA by select sellers.
- The investigation and raids substantiated the agency's probe into FDI violations.
- Earlier, both Flipkart and Amazon were found guilty of violating competition laws by giving preference to select sellers.
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Inc42
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125
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RateGain Q2 Profit Surges 74% YoY To INR 52.2 Cr
- Traveltech SaaS company RateGain reported a 74% surge in consolidated profit after tax (PAT) to INR 52.2 Cr in Q2 FY25, compared to INR 30 Cr in the same period last year.
- On a sequential basis, PAT grew 15% from INR 45.3 Cr.
- Operating revenue increased by 18% to INR 277.2 Cr in Q2 FY25, compared to INR 234.7 Cr in Q2 FY24.
- Total expenses rose by 2.7% QoQ and 13.5% YoY to INR 226 Cr during the quarter under review.
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Inc42
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ideaForge Expands ESOP Pool, Allots 2.6K Stock Options
- Drone technology company ideaForge has expanded its employee stock option plan (ESOP) pool.
- The company has allotted 2,608 equity shares under its ESOP 2018 scheme.
- The paid-up capital of the company has increased to INR 43.03 Cr comprising 4.30 Cr equity shares.
- ideaForge manufactures unmanned aerial vehicle (UAV) systems for inspection, surveillance, and mapping applications.
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