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Economic Times
1w
251
Image Credit: Economic Times
Backpacker hostel chain The Hosteller raises Rs 48 crore in round led by V3 Ventures
- Backpacker hostel chain The Hosteller has raised Rs 48 crores in funds to expand its footprint across India, led by V3 Ventures in a mixed equity and debt deal.
- The round also saw participation from Synergy Capital Partners, Unit-e Consulting LLP, Real Time Angel Fund (Climber Capital), Ice VC, as well as angel investors like Harsh Shah and The Souled Store founder Vedang Patel.
- Founder Pranav Dangi states that 90% of the funding will go into property expansion while the remaining will cater towards customer acquisition and that plans are to go from 2,500 beds today to 10,000 beds in the next 15 to 18 months.
- The company aims to expand its presence in cities like Odisha, West Bengal, and the northeast while deepening its presence in existing Tier-1 cities such as Delhi, Mumbai, Bangalore, Goa, and Jaipur.
- The Hosteller has a revenue of Rs 55 crores for the fiscal year ending March 2024 and targets overall revenue of Rs 100 crores in the current fiscal year.
- Arjun Vaidya, cofounder of V3 Ventures, said the change in the way GenZ travels is from saving up for one yearly holiday to travelling every long weekend, which The Hosteller aims to fulfil.
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StartupDaily
1w
176
ARENA powers up clean tech startup Orkestra with $2.77 million for EV charger plans
- Australian Renewable Energy Agency (ARENA) has awarded software startup Orkestra $2.77 million in co-funding for the rollout of commercial EV chargers.
- The funding aims to bring forward EV charger deployment by three years and reduce dependence on government subsidies.
- Orkestra's software will be purpose-built for EV charger projects, providing tools for feasibility analysis and financial performance tracking.
- The software will support fleet operators, public charging networks, and destination charging sites.
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Geek Wire
1w
16
Former Intellectual Ventures exec named CEO of startup destroying PFAS ‘forever chemicals’
- Dhileep Sivam, a former executive with Intellectual Ventures, has been named CEO of PFAS 'forever chemicals' destruction startup Aquagga.
- Aquagga was founded in 2019, and Sivam will now lead the Tacoma-based firm.
- The firm has been busy testing and building PFAS destruction devices that incorporate technology from the University of Washington and the Colorado School of Mines.
- Sivam brings a deep and varied background in technology to the role, having previously been an entrepreneur-in-residence at the University of Washington’s Clean Energy Institute and vice president of sciences at Bill Gates’ Breakthrough Energy.
- Aquagga's devices are designed to eliminate up to 99% of the PFAS present in contaminated water.
- Aquagga has raised $1.1m from investors and will be pursuing a Series A round early next year.
- PFAS chemicals are widely added to products, including firefighting foams, food packaging, clothing, carpets and fabrics.
- Despite the occurrence of PFAS in drinking water, Aquagga's technology requires lower temperatures and pressure and can operate continuously, treating more delicate small PFAS compounds.
- The planned commercial device, dubbed the Stampede system, is the size of a standard shipping container and will combine temperatures of 570 degrees Fahrenheit, high pressure and caustic conditions to break down PFAS into non-toxic components.
- Aquagga expects to begin shipping the Stampede devices by the end of next year and plans to sell and lease the machines.
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Insider
1w
155
Image Credit: Insider
Silicon Valley is officially grieving over Trump but quietly gleeful over a possible tech deal resurgence
- Silicon Valley's denizens are optimistic President Trump could soften the regulatory climate and make exit exits easier, as his win coupled with the stock market's exubarent response could light up the exit market like the Fourth of July. Many venture capitalists and founders in the Valley hope that the return of Trump might be a financial boon for the sector as their industry thrives when start-ups are getting acquired or going public quickly; Biden's administration had clamped down heavily on tech M&A. Federal Trade Commission Chair Lina Khan's status could be in jeopardy once Trump takes over in January; she has been one of the main drivers of tougher antitrust enforcement in tech deals. Trump could also roll back some of the antitrust policies but there's longer-term uncertainty surrounding his win. In AI, as President, Trump will have to contend with how to regulate it and is seen as bullish for crypto. However investors in climate tech were apprehensive about what a second Trump term means for clean energy.
- VCs and founders in Silicon Valley are optimistic that Trump's win could soften the regulatory climate and make Mergers and Acquisitions easier in a sector already known for thriving when start-ups are getting acquired or going public quickly.
- While many Silicon Valley VCs and founders aren't huge Trump fans, their industry thrives when startups are getting acquired or going public quickly. The Biden administration clamped down heavily on tech M&A, so Trump's win could be a financial boon for the sector.
- Trump could roll back some of the antitrust policies that his opponent would have continued, putting many technology mergers and acquisitions on hold.
- Trump's return to the White House could ripple through the technology sector in unpredictable and potentially transformative ways, though tech policy was largely an afterthought this election cycle.
- Federal Trade Commission Chair Lina Khan's status could be in jeopardy once Trump takes over in January; she has been one of the main drivers of tougher antitrust enforcement in tech deals.
- Investors such as SignalFire founder Chris Farmer and Mason Angel of Industrious Ventures said a more relaxed approach to antitrust enforcement could unlock billions of dollars in exits for a limited set of founders and venture capitalists.
- Trump is seen as bullish for crypto. The blockchain sector poured $100m into the elections, and investors are hopeful Trump's win could benefit the sector.
- Investors in climate tech were apprehensive about what a second Trump term means for clean energy, as Trump's on-again, off-again support for nuclear energy could result in new legislation to 'expand alternative energy sources, particularly by accelerating the deployment of advanced nuclear micro-reactors,' said Brian Garrett, MD of Crosscut Ventures.
- VCs and founders in Silicon Valley hope for a more practical approach to regulation under Trump's administration, as Biden clamped down heavily on tech M&A.
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Inc42
1w
96
Image Credit: Inc42
Sharan Hegde’s The 1% Club Fires 15% Workforce
- Financial edtech platform, The 1% Club, founded by Sharan Hegde, has laid off 15% of its workforce.
- The layoffs were attributed to hiring mistakes, redundant expenses, and AI-led automation.
- The company claimed to offer a healthy severance package and is focusing on AI-driven cost savings.
- The 1% Club is currently generating $8 Mn in annualized revenue and has 85,000 active paying customers.
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StartupDaily
1w
306
Why the health data gap for women is a big opportunity for femtech founders
- Medical research has historically overlooked the realities of the physiology of bodies assigned female at birth, leading to a massive, persistent gap in health data.
- Women's unique health concerns remain under-researched, often misunderstood and frequently dismissed.
- Backing founders building healthcare solutions that close the data gap stands to improve health outcomes for millions while unlocking a multibillion-dollar market.
- The fundamental lack of research and clinical data that adequately reflects the physiology, healthcare needs and experiences of people assigned female at birth, intersex people and individuals who are not cisgender male is the health data gap the article refers to.
- A lack of data doesn't just mean missing information; it means years of life spent in poor health, preventable suffering, and billions in economic cost.
- Closing this gap would potentially boost the global economy by over US$1 trillion annually by 2040.
- The lack of data prompts a reinforcing cycle of reduced scientific understanding of women's bodies that could de-risk future investment.
- Examples of healthtech startups actively working to uncover previously ignored data and the holistic datasets that these companies are set to create will hold immense potential for systemic change.
- Giant Leap wants to invest in founders that leverage AI and sex-disaggregated data to uncover underrepresented health trends that lead to highly impactful health interventions.
- In this deep dive, we use "women's health" to encompass health concerns specific to individuals assigned female at birth, regardless of gender identity.
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18 Likes
Inc42
1w
403
Image Credit: Inc42
Airtel Payments Bank Q2 Profit Zooms 45% To INR 11.2 Cr
- Airtel Payments Bank reported a net profit of INR 11.2 Cr in Q2 FY25, a 45% increase from the previous year.
- Revenue jumped 58% to INR 674 Cr during the quarter driven by strong uptake of digital offerings.
- Earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose 87% to INR 76.1 Cr in Q2 FY25.
- Airtel Payments Bank crossed the 100 Mn monthly transacting user (MTU) mark and had a customer balance of INR 2,950 Cr.
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Startupnation
1w
386
Image Credit: Startupnation
How to Move up When the Only Way Is Down: Learning from AI
- The Local Maximum challenge impacts businesses and individuals alike in many ways, often limiting their growth and development.
- Computer scientists turn the delivery route problem into mountains by mapping it topographically.
- Amazon Prime's profit is related to the speed of its deliveries, making the process of planning delivery routes crucial.
- A star striker in an English football team may limit their play and their own development when all the other players are centered around him/her.
- Raising short-term revenues by sacrificing part of the unique brand and potentially alienating the original community of supporters is a challenge faced by the CEO of a successful start-up.
- Infrastructure upgrades involving expensive 5G investments need balancing huge potential without getting stuck with a huge “sunk cost”.
- Understand the concept of Local Maximum to identify and limit its negative impacts in personal and professional lives.
- Most decisions include an element of Local Maximum, and more complex the decision, the stronger the effects and dangers.
- The concept of Local Maximum offers new ways of thinking about human challenges and helps to navigate through them effectively.
- Judah Taub’s work with start-ups and life experiences with Local Maximums have enabled him to understand the subject and write a book on it.
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Startupreporter
1w
147
Image Credit: Startupreporter
The Good Bug & Hrithik Roshan’s HRX Launch Groundbreaking Probiotic for Weight Management via Gut Health
- The Good Bug, India’s leading gut health brand, has partnered with HRX, India’s pioneering fitness brand co-owned by Hrithik Roshan, to introduce a probiotic formula for weight management and improved gut health.
- The collaboration has resulted in the creation of The Good Bug Metabolically Lean Supercharged Edition, a patent-pending probiotic formula that supports sustainable weight management.
- Priced at Rs. 499, the product aims to make weight management accessible to all individuals and promote their metabolic health.
- The launch of this product follows The Good Bug's recent success in raising $3.5 million in funding and strengthens their position as a leader in the gut health category.
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Hackernoon
1w
327
Image Credit: Hackernoon
Get Rich Building Verticalized AI Wrappers (Even If You Don’t Code)
- GenAI wrappers have quietly been generating millions with verticalized AI models.
- Examples of successful wrappers include Chatbase, RizzGPT, Musicfy.lol, and more.
- Creating a profitable GenAI wrapper requires understanding the common patterns of successful products.
- The common patterns of successful products include verticalizing AI models and creating a tailored interface for users.
- GenAI wrapper detractors often claim these products lack defensibility and that anyone can build their own using open-source models from Hugging Face.
- GenAI wrapper proponents argue that users don't care whether the product is a wrapper and that convenience wins over technical ability.
- Building profitable software has never been easier, thanks to tools like GPTEngineer, Bolt, and Cursor.
- To succeed in the long run, GenAI wrapper creators need to think about defensibility, such as building a brand or embedding into workflows.
- New technologies are released every week, creating new opportunities for GenAI wrappers to solve problems in various niches.
- To build a successful GenAI wrapper, creators should identify a problem in a paying niche, build with AI tools, create a tailored interface, monetize from day one, distribute effectively, and consider exit or defense strategies.
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19 Likes
Geek Wire
1w
42
Outreach cuts 9% of workforce in latest layoffs at Seattle sales automation startup
- Seattle sales automation startup, Outreach, has laid off 9% of its workforce, impacting over 65 employees globally.
- The layoffs mainly affected go-to-market roles, but no offices were closed.
- Impacted employees are being offered severance, benefits, and career counseling.
- Outreach has raised nearly $500 million and has a valuation of $4.4 billion.
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Inc42
1w
281
Image Credit: Inc42
DENSO Partners T-Hub To Foster Automotive Startups In Telangana
- Telangana government-backed incubator T-Hub has partnered with Japanese auto components manufacturer DENSO to foster automotive startups in the state.
- DENSO will mentor selected startups by offering access to R&D resources and technical expertise.
- The collaboration will focus on startups in sectors such as AI, electrification, advanced driver assistance systems, and V2X communication.
- DENSO will also sponsor T-Hub's hackathons and innovation challenges related to automotive technologies.
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16 Likes
TechCrunch
1w
184
Image Credit: TechCrunch
Pinstripe wants to redefine the way online sellers sell secondhand clothing
- Pinstripe launched in June and offers sellers both a digital storefront and physical retail presence. Pinstripe founders recognised the need for better approaches in the secondhand market where today sellers face challenges such as dealing with strangers visiting their homes. The platform alleviates that, by having sellers take their clothes to local consignment, vintage shops, and retailers, where store employees handle the handoff process.
- Pinstripe is for users in New York City with ample space. The platform connects people with too much clothing and stores with too much space. The retail partners receive the remaining 10% of the sales revenue, and the sellers receive 70% revenue. Pinstripe takes 20%. Pinstripe is looking to help businesses that lack online presence or social media marketing teams. Although the limited staff at some of these stores could present challenges, it requires additional storage space and manpower to facilitate transactions.
- Pinstripe offers buyers the benefit of browsing, purchasing online, and experiencing clothing in person with refunds available. The app experience for buyers and sellers is standard with an algorithm that curates options based on their style preferences. AI-powered 'Offer' model helps sellers in managing the bidding process. Items that don't sell after 30 days can be donated and Pinstripe sends local charities to pick it up and donate it on behalf of the seller.
- Pinstripe is available in the App Store and on the web and is working with almost a dozen retail partners and touts a few thousand monthly active users. Notable advisers on board, including Ben Max Rubinstein and Julie Bornstein (former Stitch Fix and Daydream founder). Pinstripe evolved from a similar startup founded by Blumenthal and Tomiya in 2022 called Banter, an e-commerce platform that featured multiplayer shopping and social elements.
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Yourstory
1w
235
Image Credit: Yourstory
Wooden Satellite - World's first Satelite made of wood launched by Japan but there's a problem!
- Japan has launched the world's first wooden satellite called LignoSat, in a bid to assess the viability of timber as a material for space applications and address the issue of space debris.
- LignoSat, made of magnolia wood, was successfully tested aboard the International Space Station in 2022 and will orbit Earth for six months to evaluate its durability in space.
- Using wood in satellite construction has environmental benefits, such as biodegradability and minimal impact upon re-entry, but could potentially lead to deforestation if demand increases.
- Successful use of LignoSat could open up possibilities for wooden structures in space, including habitats on the Moon or Mars, providing sustainable living solutions.
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14 Likes
TechCrunch
1w
16
Image Credit: TechCrunch
AI coding assistants can help startups develop products, seed VCs believe
- AI coding startups like Replit and Bubble can generate code from a natural language prompt.
- VCs believe that companies will hire fewer human engineers and have each human manage AI coding agents.
- However, AI agents should not replace human engineers in young companies at the seed stage.
- Startups should leverage AI coding assistance to iterate and learn quickly in the early stages.
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