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Startup News
Economic Times
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Image Credit: Economic Times
Epiq Capital leads $16.5 million funding round in edtech startup Bhanzu
- Bhanzu, an Indian math edtech start-up has raised $16.5m in a funding round led by VC firm Epiq Capital with participation from existing investors Lightspeed Ventures and Eight Roads.
- Bhanzu plans to expand its presence in the US as it has found a product-market fit there while also investing in generative artificial intelligence.
- The Hyderabad-based start-up's unique selling point is a math curriculum with online courses for students ranging from kindergarten to Grade 9.
- The firm claims to have grown eightfold since its 2022 funding round, achieving positive cash flow and good traction in India, US, UK and the Middle East.
- India and the US make up a third each of the start-up's revenue with the rest coming from other markets worldwide.
- Founded in 2020, the start-up aims to achieve revenues of INR1-$02 billion ($13.5m-$16m) this financial year.
- The latest investment round brings the amount raised by Bhanzu to $33.5m.
- Edtech firms PhysicsWallah, Eruditus and UpGrad have also recently secured fresh capital.
- Epiq Capital's Chinmay Katdare commented, "Bhanzu has evolved into a global math education platform. This investment fits into our thesis of outcome-driven education where the strength of the product drives growth".
- Z3Partners' Rishi Maheshwari added, "We believe the company is currently at an inflection point to turbocharge growth in a profitable and sustainable manner".
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Eu-Startups
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London-based Cogna raises over €14 million to boost productivity with AI-driven precision software
- London-based provider of precision software solutions, Cogna, raises €14.2 million in Series A funding round.
- Funding led by Notion Capital, Hoxton Ventures, and Chalfen Ventures to support expansion and further development of AI-powered software solutions.
- Cogna's 'service-as-a-software' approach leverages AI to automate IT consultancy process, addressing productivity challenges in underserved sectors.
- Expansion planned to bring AI-driven solutions to utilities, manufacturing, energy, and public sectors, unlocking untapped potential.
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SiliconCanals
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London-based SaaS firm Cogna secures €14M to address complex business inefficiencies
- London-based SaaS firm Cogna has secured €14M ($15M) in a Series A funding round led by Notion Capital, with participation from Hoxton Ventures and Chalfen Ventures.
- Cogna plans to expand its platform capabilities and increase the capabilities of its automated AI-powered software factory with the investment.
- The company, founded by Ben Peters and Lars Mennen, uses AI to automate the IT consultancy process for large enterprises and targets sectors like utilities, manufacturing, energy, and the public sector.
- Notion Capital, a European B2B SaaS and Cloud VC, led the funding round and has a portfolio that includes GoCardless, Mews, Paddle, Unbabel, and YuLife.
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Yourstory
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Startup news and updates: Daily roundup (November 11, 2024)
- CoinDCX launches new brand campaign 'Learn Karo.Crypto Karo.' with Gautam Gambhir as brand ambassador to empower Indian investors with knowledge about crypto investments.
- 3C IT Solutions & Telecoms India appoints Hashyadeep Dave as CEO to drive business growth, operational efficiency, and customer-centric approach.
- RED.Health launches Salus EMS, an end-to-end emergency medical services platform in India, leveraging real-time video consultations and AI-powered features.
- NetApp India elevates Vasanthi Ramesh to Managing Director, responsible for strategic initiatives, innovation, and growth in the region.
- Gupshup appoints Trisnia Anchali Kardia as Country Head, Indonesia, to expand enterprise business and drive market leadership in conversational AI engagement.
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UX Design
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Customer as competitive advantage
- To be able to differentiate itself in the market, an organisation needs to identify and be prepared to leverage its potential competitive advantages. Within this mix, its customers can provide a route to winning and retaining a base both satisfied and likely to engage with the business and its offerings. However, as analytics Ascendia Trends says: “it is not easy to make a brand’s customer experience stand out from the crowd, particularly in an age when customers are more demanding than ever”.
- A recent report from Econsultancy and Onalytica has attempted to make a few suggestions as to how firms can gain an edge. The study has collected expert opinion and charted the relative importance of various challenges featured in what it calls the customer experience challenge curve.
- Digitalisation is having a particular impact on customer interactions and demands. Econsultancy found that, along with personalisation, digital adaptation could provide competitive advantage.
- The report states: “An overwhelming proportion of our experts believe that the increasing importance of the user experience is unlikely to slow down. The growing expectations of customers mean that organisations which are able to differentiate their CX from the competition will be rewarded.”
- If customer experience (CX) is to be the battleground for competitive advantage, then gaining customer feedback is the ammunition.
- However, anecdotal evidence suggests that many firms continue to look in the wrong places, seeing an asset rather than a group of individuals, when it comes to their customer base. That is perhaps part of the reason why only a minority of firms Econsultancy surveyed said they had the superior CX for their market segment, despite the raft of tools available to help them.
- Perhaps not surprisingly, the analytics found that investing in CX was related to returns; more than two-thirds of respondents said they saw return on investment in improved CX, and almost three-quarters said they would be increasing CX investment in future.
- Businesses maximise customer experience (CX) management by ensuring three things: 1) all component functions (IT, HR, marketing, etc) work together to ensure an effective CX; 2) they monitor CX activity to ensure it is operating well; and 3) they invest in the right technology to enable it all.
- However, neglecting the role that structured, formalised feedback processes can play risks missing a trick. As Forrester recently wrote: “CX pros cannot resist the seductive pull of shiny object syndrome – investing in flashy tech and jumping into emerging channels without rigorously evaluating customer needs, preferences, and attitudes”.
- Notably, the analytics suggest shying away from “event-based innovation processes”. Instead businesses should identify the signals coming in from customer interactions and react in real time to them.
- A few examples to challenge the thinking, include; engaging customers and proactively seeking feedback, using digital and data beyond the basics, placing customer data protection at the core of strategy, and making customer experience part of everyone’s job function.
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Startupreporter
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Image Credit: Startupreporter
COSTECH – ESYGO Joint Project to Set Up 2000 Electric Vehicle Charging Stations in Kerala
- COSTECH and ESYGO have signed an agreement to establish 2000 EV charging stations across Kerala.
- The aim of the project is to ensure EV charging infrastructure across the state by 2030, promoting eco-friendly transportation and reducing carbon emissions.
- The charging stations will operate 24/7 and offer additional facilities such as coffee shops and public information centers.
- The project will comply with the central government's guidelines and provide technical assistance and bank loans to install charging stations.
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Startupreporter
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Taneira and JJ Active Host An Exhilarating Experience With A Saree Run In Bengaluru
- Taneira, a Tata product, collaborated with Bengaluru-based fitness company JJ Active to host a saree run in Bengaluru.
- The event saw 9,000 women draped in diverse weaves, showcasing the versatility of the saree.
- The run aimed to celebrate feminity, fitness, and freedom, while empowering women to break barriers and express themselves confidently.
- Taneira, known for its ethnic wear, highlighted the enduring beauty and relevance of the saree in a modern context.
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VC Cafe
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Kindling Early B2C Growth: Getting to 1,000 Users
- Getting your first 1,000 users is an important early milestone for any B2C startup. However, how to get there? What are the most effective strategies for early B2C growth?
- Research reveals that the path to your first 1,000 users rarely follows the conventional playbook.
- 7 strategies to acquire B2C users in the earliest stage are leveraging your network, finding where your target audience hangs out, generating excitement and word-of-mouth, building a community before the launch, offering a simple, valuable product.
- The most successful early-stage B2C companies typically rely on a mix of organic and direct channels.
- Successful word of mouth is engineered. Community building compounds, creating a network effect that attracts and retains users.
- Early-stage growth is expanding in concentric circles, each requiring distinct tactics.
- Regularly gathering user feedback and analyzing engagement data is key as no strategy remains effective for a sustained period.
- Foundational principles to get to your first 1000 users are more important than shortcuts or growth hacks.
- As a startup grows beyond its first 1000 users, the priorities change accordingly, and you'll start working on engagement and retention.
- Regular experimentation with new product loops and marketing experiments to reach new users is crucial.
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Insider
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Deckmatch uses AI to find and streamline deals for investors. Check out the 13-slide deck it used to raise $3.1 million.
- Norway-based startup Deckmatch has raised $3.1 million in seed funding from Alliance VC and Luminar Ventures.
- Deckmatch provides an API that automates data processing for private market investors.
- The platform gathers unstructured data, such as pitch decks and investment memos, and turns it into structured data.
- Deckmatch's platform also helps investors source deals by finding similar companies and generating relevant information.
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ISN
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Image Credit: ISN
Zomato launches 'food rescue' feature to avoid food wastage, Here's what you need to know
- Food delivery giant Zomato has launched a new 'Food Rescue' feature to combat food wastage.
- The feature allows nearby customers to purchase cancelled orders at discounted prices.
- Over 400,000 orders are cancelled each month, leading to significant food loss.
- Restaurants receive full payment for cancelled orders and a share from any resale.
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Eu-Startups
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Lisbon-based Bynd launches a €40 million fund to invest in Iberian tech startups
- Bynd Venture Capital has launched its third fund, valued at €40 million, to invest in Iberian tech startups.
- The fund aims to support approximately 40 early-stage technology startups in Spain and Portugal, focusing on AI, software, consumer goods, and sustainability technology.
- Bynd has a 15-year track record in venture capital and aims to empower Iberian startups to scale globally.
- The fund will prioritize ESG metrics and startups led by diverse founding teams.
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Startup Pedia
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Image Credit: Startup Pedia
Kumar Mangalam Birla Says India Is Not Only a Consumer Market but a Global Growth Engine
- Kumar Mangalam Birla, Chairman of Aditya Birla Group, said that India is not just another consumer market but is potentially a critical growth engine in the global market.
- Aditya Birla Group is India's largest investor in the US, with investments exceeding $15 billion and manufacturing operations in 20 locations across 15 states.
- Birla highlighted that Indian companies are not afraid to make audacious moves even in an uncertain global environment.
- The Aditya Birla Scholarship program aims to create a cadre of handpicked leaders who will excel in India and represent the country abroad.
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Yourstory
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Image Credit: Yourstory
Zomato launches food rescue feature, enabling users to claim cancelled orders
- Zomato has launched a food rescue feature that allows nearby customers to claim cancelled orders.
- Cancelled orders will pop up for nearby customers on their homepage, offering them an opportunity to grab these orders at an unbeatable price.
- The original customer still pays the cancellation fee, while the new customer's payment will be distributed between the original customer and the restaurant partner.
- The feature is not applicable for orders containing items sensitive to distances or temperature.
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Startupcan
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Image Credit: Startupcan
Five reasons why your business needs a custom email address
- Having a custom email address can provide a higher level of professionalism and credibility.
- Custom email addresses can be customized to your business needs, such as creating addresses for different positions or departments.
- Custom email addresses help boost brand awareness by showcasing your business name in every communication.
- Custom email addresses offer more security and control with advanced features like encryption and data management.
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Nonprofithub
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Image Credit: Nonprofithub
10 Creative Fundraising Ideas for Kids That Are Fun and Easy
- Fundraising is an excellent way to teach children about kindness, community effort, and sharing.
- Here are ten simple yet effective ideas for fundraising for kids:
- 1. Bake Sale Extravaganza: Organize a themed bake sale event.
- 2. Craft Fair Creations: Kids can make and sell homemade crafts at a craft fair.
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