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Startup News
ISN
13h
261
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AI-powered platform for e-commerce customer engagement BiteSpeed raises $3.5 million
- BiteSpeed, an AI platform for e-commerce customer engagement, has raised $3.5 million in a pre-Series A funding round led by Peak XV’s Surge.
- The funding will drive global expansion, hiring, and research and development in generative AI.
- BiteSpeed offers AI tools for customer communication across channels and claims to drive over 25% additional revenue for brands.
- The platform has over 2,500 Shopify brands in 50+ countries using its services.
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Medium
13h
109
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Unlocking the Power of Next-Gen Product Management
- The Generative AI era is transforming the way we work by automating repetitive tasks.
- By harnessing AI, teams can focus on complex, high-value tasks and become specialists.
- To create a skilled and adaptable team, start with small experiments and measure success.
- Scaling requires fostering autonomy, mastery, and purpose, supported by coaches.
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Inc42
14h
159
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Exclusive: Reliance To Acquire TagZ Foods For INR 28 Cr In A Fire Sale
- Reliance Consumer Products, a subsidiary of Reliance Retail, is acquiring D2C snacking startup TagZ Foods for INR 28 Cr in a distress sale.
- TagZ Foods has raised $3.2 Mn in funding rounds but faced difficulties scaling its business and halted production.
- The deal size could change after due diligence. TagZ Foods sells popped potato chips, gourmet dips, and cookies online and offline.
- This acquisition by Reliance comes amid a trend in FMCG giants acquiring D2C brands in India.
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VIE Stories
14h
65
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Shark Tank USA Season 15 Episode 04
- Shark Tank USA Season 15, Episode 04 presented a mix of fresh ideas, from a new SaaS platform to a unique dating coach app.
- The Sharks asked tough questions to challenge the entrepreneurs' business models and pushed them to defend their visions.
- The panel of Sharks includes Mark Cuban, Lori Greiner, Kevin O'Leary, Robert Herjavec (Guest Judge), and Barbara Corcoran.
- PaddleSmash is a new outdoor game that blends the best parts of Pickleball and Roundnet.
- FairyTail Pet Care is a wedding pet care service that helps couples include their pets on their special day.
- Monosuit sells a one-piece garment that combines a jacket and pants into a single snowmobile suit.
- Buena Papa Fry Bar is a fast-casual restaurant that serves gourmet, hand-cut French fries with a variety of Latin-inspired and global toppings.
- 3 out of the 4 startups secured the funding and partnerships they were seeking.
- Shark Tank allows entrepreneurs to partner with experienced industry leaders who provide both investment and mentorship.
- The show highlights innovative ideas while helping startups grow their customer base and connect with the expertise needed to thrive in a competitive market.
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Hitconsultant
14h
251
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NEC X Invests in GPx to Advance AI-Driven Chronic Disease Monitoring
- NEC X, the Silicon Valley venture studio backed by NEC’s portfolio of advanced technologies and global businesses, has announced a new investment in General Prognostics Inc. (GPx), a MedTech startup revolutionizing chronic disease monitoring and management.
- NEC X's investment in GPx aligns with their vision of leveraging technology to improve healthcare access and reduce system burdens for patients with chronic conditions.
- GPx has joined the Elev X! Boost program, a venture initiative by NEC X, to enhance the accuracy of its flagship product, CardioID, and drive revenue growth, enter new markets, and secure further funding.
- The CardioID system enables remote blood monitoring for heart failure patients by extracting biomarkers from wearable devices and utilizing advanced machine learning to develop predictive models.
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Medium
14h
69
Being an Analyst at a Venture Capital Firm: A Glimpse Into the Role
- Being an analyst at a venture capital firm is an exciting and complex role, requiring quick learning and adaptability.
- A typical day for a VC analyst is diverse and dynamic, with opportunities for discovery and analysis.
- The most thrilling aspects of the job include discovering cutting-edge technologies, disruptive business models, and bold founder visions.
- Despite challenges and risks, being a VC analyst is rewarding, offering opportunities to support innovation and be part of world-changing companies.
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Eu-Startups
14h
76
Luxembourg-based Bek Ventures launches an over €235 million fund to support early-stage tech startups
- Luxembourg-based Bek Ventures has launched an over €235 million third fund to support early-stage tech startups.
- The fund has already invested in companies such as Zeta Labs and Proofs.
- Bek Ventures focuses on European founders, particularly from Central and Eastern Europe.
- They provide follow-up funding to 90% of their portfolio companies.
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Siliconangle
15h
237
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Industrial automation startup Vecna Robotics raises $14.5M, appoints new CEO
- Vecna Robotics, a supplier of automation equipment, raised $14.5 million in funding.
- Karl Iagnemma, former CEO of Motional and NuTonomy, is appointed as the new CEO of Vecna Robotics.
- Vecna Robotics offers four robots that streamline the movement of merchandise in industrial facilities.
- The funding will be used to accelerate product development and address customer requirements in various industries.
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Hitconsultant
15h
157
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Bluespine Raises $7.2M to Combat Medical Overbilling with AI
- Bluespine, an AI-driven claims cost reduction platform, has raised $7.2M in seed funding.
- The funding will support Bluespine's adoption by US employers and brokers and further research and development.
- Bluespine's AI-powered platform addresses the issue of medical overbilling, which results in significant financial leakage for self-insured employers.
- The platform analyzes 100% of claims using AI, tailoring its analysis to each employer's unique health plan and coverage terms.
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Medium
15h
244
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Guiding Principles for Product Excellence: How I Build Great Products
- The author shares guiding principles for building excellent products.
- These principles have been learned and adopted from exceptional founders and leaders.
- The principles have been applied to tackle challenges in scaling B2B cloud business for mobile developers and SDLC automation.
- They have also guided the re-launch of a former acquisition in mobile app distribution and management.
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TechBullion
15h
252
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Invest Smartly: A Guide to Platforms Offering Climate Risk Analysis Tools
- Climate change is a pressing issue and can have negative effects on investments.
- Climate-related risks can manifest as physical, transition, and liability risks.
- Climate risk analysis tools provide insights into how portfolios might be affected by future climate scenarios based on physical and transition risk factors.
- Sustainalytics, MSCI Climate Risk Analytics, CDP, and Climate Financial Risk Forum are notable platforms that offer climate risk analysis tools.
- These platforms offer advanced analytics, real-time monitoring, integration, and extensive educational resources to manage risks and make informed investment decisions.
- The case studies prove that these tools can identify high-risk assets in fossil fuels, evaluate climate resilience, and inform investors about real estate properties vulnerable to flooding.
- Thematic investing, impact investing, green bonds, and real assets such as timberland or farmland offer unique investment opportunities for a changing landscape.
- Sustainable investing and ESG funds evaluate companies based on their sustainability practices and can support responsible businesses while outperforming traditional investments over time.
- By incorporating these tools and investment strategies, investors can safeguard their financial interests while contributing towards a more sustainable future.
- It is important for investors to make smart and informed investments in a greener economy.
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Hackernoon
15h
0
Image Credit: Hackernoon
Meet Hyperce, Startups of the Year 2024 Nominee
- Hyperce has been nominated in HackerNoon's Startups of The Year 2024 awards in the Emerging Tech category.
- Hyperce is a headless e-commerce solutions provider that offers modern, scalable solutions to businesses of any size in the most affordable and efficient manner.
- They provide modern headless solutions at an affordable cost, with strong support, scalability, and enhancements.
- In less than 2 years, with zero funding, they scaled from 3 to 30 team members and served more than 35 clients globally.
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Economic Times
15h
233
Image Credit: Economic Times
Early investors clock big gains as Swiggy makes Dalal Street debut
- Swiggy's IPO and better-than-expected stock market debut has given significant gains across the board for early backers such as Prosus, Accel, Elevation Capital and SoftBank, which has emerged as one of the largest liquidity events for risk investors in India.
- Prosus' stake in Swiggy is valued at nearly Rs 26,507 crore, while SoftBank is sitting on $1 billion of value for its $450 million invested in Swiggy as of its close of trade on Wednesday.
- Venture capital firm Accel holds a 4% stake which is valued at Rs 4,310 crore, while Elevation Capital has a 2.63% stake valued at Rs 2,816 crore.
- Swiggy CEO Sriharsha Majety’s current stake in the company is worth Rs 5,381 crore, followed by other cofounders Nandan Reddy and Rahul Jaimini with Rs 1,705.3 crore and Rs 1,108.3 crore, respectively.
- Swiggy's biggest shareholder, South African and Dutch technology group Prosus, first backed the Bengaluru-based firm in 2017, deploying $1.3bn into the company across eight tranches, and now holds a 25% stake, down from around 31% that it held previously.
- The company, which has deployed $8 billion in Indian startups, had to trim its shareholding to avoid being termed a ‘promoter’ as per Sebi rules.
- According to a report, Swiggy’s listing is poised to unlock Rs 9,000 crore worth of Esops, catapulting nearly 500 employees of Swiggy into the ‘crorepati’ league.
- Swiggy’s market capitalisation stood at Rs 1,02,062 crore (about $12.3 billion) at the end of the first day of trading, post the IPO.
- Swiggy’s early investors also sold stocks worth Rs 6,400 crore in the offer-for-sale (OFS), while the listing premium has further strengthened the total value of their remaining ownership.
- Prosus' president and chief investment officer, Ervin Tu, confirmed that the company will continue to hold its position in Swiggy and that there is no rush to exit.
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Yourstory
15h
241
Image Credit: Yourstory
8 Business lessons from India’s unicorn startup founders
- Many Indian unicorns, like Ola and Zomato, started by addressing gaps in the market.
- Founders like Byju Raveendran of BYJU'S quickly adapted to shifts in consumer behaviour.
- India’s unicorn founders didn’t begin with billion-dollar companies—they started small.
- Companies like Swiggy and Paytm have thrived by putting customer satisfaction at the forefront.
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Economic Times
15h
347
Image Credit: Economic Times
Ecommerce AI startup BiteSpeed raised USD 3.5 million
- Ecommerce AI startup BiteSpeed has raised USD 3.5 million in a funding round led by Peak XV's Surge.
- The funding round saw participation from Whiteboard Capital, Gaurav Munjal (Unacademy CEO), Aakash Anand (Bella Vita CEO), and Dhruv Vohra (META APAC Head), among others.
- BiteSpeed plans to use the fresh capital to accelerate hiring efforts, support global expansion, and deepen research and development in generative AI.
- StampMyVisa, an AI-powered platform, has raised Rs 6.6 crore from Unicorn India Ventures to upgrade its AI technology, expand its geographical reach, and introduce new offerings.
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