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Startup News
Inc42
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Ripplr’s FY24 Net Loss Widens 43.5% To INR 89.15 Cr
- Ripplr's net loss for FY24 widened by 43.5% to INR 89.15 Cr.
- Operating revenue saw a 38.9% rise in FY24 to INR 1,028.38 Cr.
- Product sales accounted for 91% of the revenue, while service sales contributed INR 89.84 Cr.
- Ripplr raised $40 Mn in its Series B funding round and has raised a total funding of $54.93 Mn.
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VIE Stories
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Fashion Entrepreneur Fund Appoints Deepak Lamba as CEO
- Fashion Entrepreneur Fund has appointed Deepak Lamba as its new CEO.
- Lamba, a seasoned media expert, previously served as the founder and CEO of Times Strategic Solutions Ltd.
- Under Lamba's direction, FEF aims to strengthen its programs and partnerships, including an annual online series in collaboration with Dharmatic.
- FEF is a venture studio focused on supporting aspiring fashion enthusiasts through financial assistance and business opportunities.
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VIE Stories
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Business Trends For 2025 In India
- Business trends in India are expected to shape the future of how companies operate, interact with customers, and deal with challenges by 2025.
- Remote and hybrid work are becoming increasingly popular, and companies need to invest in technology to support this scale of operation.
- Generative AI and custom machine learning are expected to change how businesses work across many industries by 2025.
- Digitization is key to improving efficiency and innovation. More businesses are using digital solutions like cloud computing and digital payments to streamline operations.
- As businesses digitalize, there is an increasing risk of cybercrime, so cybersecurity measures are becoming a major focus.
- A growing focus on health and wellness at work is increasing with businesses recognizing the importance of supporting employees’ physical and mental well-being.
- Building a resilient supply chain is critical for handling potential disruptions and ensuring smooth operations by 2025.
- Companies need to be flexible and responsive to capitalise on the benefits of new trends by 2025.
- AI is bringing new possibilities for innovation but it is important to consider ethical and practical implications.
- With a growing need for digitization, AI, and healthcare, a business in any of these domains may expect to grow in the future.
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Startupnation
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Startup Financing: From Traditional Loans to Innovative Solutions
- Startup financing is one of the most crucial challenges for a startup.
- Startups commonly use venture capital or business loans to finance their staffing expenses, product development, and marketing efforts.
- Venture capital is where investors put corporate funding into launching startups in exchange for a stake in the business.
- Business loans are of two types, secured or unsecured loans, but most startups go with unsecured loans, which require a proven track record in business and a good credit score.
- Opening a line of credit with a bank or credit union can be a good option for entrepreneurs with great flexibility and lower interest and fees than credit cards.
- Borrowing Against Your Investment Portfolio can be a viable option for startup funding if you have an extensive and safe investment portfolio.
- There are other non-traditional sources of financing options available for startups, including angel investing, crowdfunding, and minority business loans.
- Business Center for New Americans, Small Business Administration (SBA), SBA microloans, the African American Loan Fund, and grants.org are some minority business loan resources.
- Select the best financing option for your startup by understanding what your new business needs and your worth or tolerance for risk.
- Funding a startup takes innovation, ingenuity and the right resources.
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VIE Stories
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Indonesia Investment Authority and Granite Asia Form $1.2 Bn Strategic Partnership
- Indonesia Investment Authority (INA) and Granite Asia have formed a $1.2 billion strategic partnership to accelerate digital transformation in Indonesia’s technology ecosystem.
- The partnership aims to provide funding and resources to facilitate digital integration and introduce cutting-edge innovations to Indonesia.
- INA and Granite Asia will invest in equity and hybrid capital opportunities that align with their strategic priorities.
- The collaboration will help drive innovation, sustainable growth, and position Indonesia as a leader in the region’s technology-driven future.
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Yourstory
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Why Wiz rejected Google’s $23 billion acquisition offer
- Wiz, a cloud security company, rejected Google's $23 billion acquisition offer.
- Wiz CEO, Assaf Rappaport, declined the acquisition to pursue the company's rapid growth trajectory and aim for an IPO.
- Maintaining independence allows Wiz to focus on long-term objectives and quickly adapt to customer needs and market dynamics.
- By rejecting the offer, Wiz positions itself as a potential leader in the growing cloud security market.
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StartupDaily
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Craig Wright, the litigious Australian branded an ‘accomplished liar’ by a UK judge for claiming to be Bitcoin’s inventor, is suing Block
- Craig Wright, the controversial figure claiming to be Bitcoin's inventor, is being sued by payments firm Block.
- Wright's claim of being the creator of Bitcoin, under the name Satoshi Nakamoto, has been debunked by a UK judge.
- Wright is accused of contempt of court for filing a $1.79 billion lawsuit against Block.
- A hearing to determine whether Wright is in contempt will be held in December.
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Inc42
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8
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Ajay Kumar’s MountTech Growth Fund To Join Cap Table Of Spacetech Startup GalaxEye
- Former defence secretary Ajay Kumar's MountTech Growth Fund will join the funding round of spacetech startup GalaxEye.
- The round includes investors such as Infosys, Celesta Capital, Speciale Invest, Mela Ventures, and Rainmatter.
- The funding will accelerate the development of GalaxEye's upcoming satellite, the 'Drishti Mission.'
- The Indian Spacetech sector is experiencing rapid growth, with a projected market opportunity of over $77 Bn by 2030.
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Inc42
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341
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Industry Appeals For Adoption Of Single Digital Radio Technology
- Industry bodies in India are appealing for the adoption of a single digital radio technology for the country's digital radio rollout.
- The Association of Radio Operators for India (AROI) suggested a unified digital technology for FM broadcasting, such as DRM and HD Radio.
- The industry bodies also proposed the continuation of analogue transmission until digital receivers are adopted by more than 80% of the population.
- The adoption of a single standard could reduce costs and improve receiver accessibility.
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VIE Stories
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2k
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QubeHealth Raises pre-Series A funding From Unicorn India Ventures, CanBank VC
- QubeHealth has raised pre-Series A funding from Unicorn India Ventures and CanBank VC.
- The funding will be used to deploy new features and make additional technological investments.
- QubeHealth is transforming healthcare payments in India and has seen significant growth.
- QubePay enables customers to pay every medical provider without being bound by family members or networks.
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StartupDaily
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KPMG Nature Positive Challenge is on the hunt for eco startups with a $100,000 prize up for grabs
- Applications are open for the annual KPMG Nature Positive Challenge 2024 for eco startups in Australia, Fiji, and PNG.
- The challenge focuses on the themes of regenerative economy and sustainable food systems.
- Five startups will be chosen for a $250,000 pool of services and access to KPMG business leaders and specialist teams.
- A $100,000 Nature Positive Prize and a $20,000 People's Choice Prize will be awarded to winners.
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Startup Pedia
1w
63
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This Startup Helps Non-US Businesses Expand To US At Less Than $1/day
- Colorado-based startup, VishwaTel, is helping non-US businesses establish a professional presence in the United States.
- VishwaTel's offering is aimed at individuals and businesses who are struggling to establish themselves in the US market.
- For startups, freelancers, and agencies, VishwaTel offers a US incoming phone number to increase credibility and remain available for their clients.
- Small businesses can set up US incoming phone numbers and have them automatically forwarded to their support team regardless of their location.
- VishwaTel is helping bridging the gap between Indian and American markets and is an affordable option with a yearly subscription of just $360.
- VishwaTel's standard package offers a dedicated US incoming phone number, unlimited incoming calls and texts, US business address, and US banking account.
- The company's vision, to empower individuals and organizations to connect economically with the US audience and foster international relationships.
- VishwaTel's standard package is offered at less than a dollar per day and includes a US incoming phone number, access to unlimited incoming calls, a bank account, and a US business address.
- The startup aims to expand to 35+ countries by March 2025 and empower people to establish a credible presence in the global market.
- VishwaTel's simplified solution enables businesses to establish a global presence by making communication and transactions seamless for them.
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StartupDaily
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307
The Australian government has killed off a $7 billion military satellite project, increasing the risk of cyber attacks
- The Australian government has cancelled a $7 billion military satellite communications system project.
- The cancellation is due to insufficient funding and belief in the availability of cheaper options.
- The project, known as JP9102, aimed to enhance Australia's military communications and improve cybersecurity.
- The cancellation raises concerns about the vulnerability of Australia's military communications and the need for alternative solutions.
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VIE Stories
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16
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Robotics Startup CynLr Secures $10 Mn Series A Funding
- Bengaluru-based robotics platform CynLr has raised $10 million in a Series A funding round led by Athera Venture Partners and Pavestone.
- The funding will be used to double the company's employees, strengthen R&D and software engineering, and enhance its CyRo robotics platform.
- CynLr was founded in 2019 and offers a visual object intelligence platform that enables industrial robotic arms to perceive and operate objects in unstructured contexts.
- Other participants in the funding round included Redstart and Speciale Invest.
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Inc42
1w
80
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FSSAI To Meet Quick Commerce Execs Over Sale Of ‘Near-Expiry’ Food Products
- The Food Safety and Standards Authority of India (FSSAI) plans to meet with representatives of major quick commerce platforms to address concerns over the sale of near-expiry food products.
- Executives from platforms such as Blinkit, Swiggy Instamart, Zepto, among others, will participate in the meeting.
- FSSAI also plans to instruct state food safety commissioners to increase scrutiny of ecommerce and quick commerce platforms to prevent the sale of near-expiry products.
- This meeting follows recent controversies such as the discovery of near-expiry products in a Zomato-owned warehouse.
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