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Startup News
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
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Image Credit: Startup Pedia
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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Image Credit: VIE Stories
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
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80
Image Credit: Inc42
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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Yourstory
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1k
Image Credit: Yourstory
CarTrade’s consumer group expects 30% Q3 revenue growth with festive season bump
- CarTrade Tech expects its consumer group to report a 30% YoY rise in revenue growth in Q3 2024.
- The strong festive season demand in October is likely to contribute to the growth.
- CarWale and BikeWale, part of the consumer group, witnessed record revenues and traffic growth during the festive season.
- CarTrade reported a 6X rise in its Q2 consolidated profit and a 28.5% YoY rise in quarterly revenue.
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Inc42
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744
Image Credit: Inc42
CaratLane’s Q2 Total Income Jumps 28% YoY to INR 829 Cr
- CaratLane, a Tata-owned omnichannel jewellery startup, recorded a 27.9% YoY growth in total income, reaching INR 829 Cr in Q2 FY25.
- The revenue from the studded category increased by 41% YoY, contributing 79% to the total income.
- CaratLane reported an EBIT of INR 58 Cr with a 7% margin in the July-September quarter.
- The company opened 11 new outlets, taking the total store count to 286 across 119 cities pan-India.
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Yourstory
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620
Image Credit: Yourstory
Dhoni-backed Khatabook clocks Rs 102.7 Cr revenue, cuts losses by 7% in FY24
- Khatabook, a digital bookkeeping and lending startup, generated Rs 102.7 Cr revenue in FY24.
- The company reduced losses by 7.32% compared to the previous year.
- Total expenses rose by 3% to reach Rs 230.08 Cr in FY24.
- Khatabook, backed by investors including Y Combinator and Mahendra Singh Dhoni, has raised over $100 million.
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TechCrunch
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525
Image Credit: TechCrunch
Flash, founded by ex-Flipkart exec, launches in the U.S. to help shoppers juggle multiple online orders
- Flash, the payment management service, has launched in the U.S.
- The app allows users to centralize online purchases, track shipments, and receipts.
- Users can earn rewards and redeem points from brand partners.
- Founder plans to expand globally and raise new capital for U.S. expansion.
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Hitconsultant
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644
Image Credit: Hitconsultant
PrognomiQ Raises $34M to Advance Multi-Omics Early Detection Test for Lung Cancer
- PrognomiQ, a healthcare company pioneering multi-omics approaches to disease detection, has raised $34M in Series D funding.
- The funding will accelerate the development of PrognomiQ's early detection test for lung cancer, which leverages a multi-omics approach.
- PrognomiQ has demonstrated promising results, including a recent study showing 89% sensitivity and specificity in detecting lung cancer.
- With the new funding, PrognomiQ aims to advance the development and commercialization of its lung cancer detection test.
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SiliconCanals
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Image Credit: SiliconCanals
Global recruitment firm Brunel acquires 50.1% stakes in Amsterdam’s Equals: Here’s why
- Global recruitment firm Brunel acquires 50.1% stakes in Amsterdam’s Equals.
- Partnership aims to increase diversity in the technology sector and address the need for IT professionals.
- Brunel to utilize its client network and expertise to support Equals' goal of increasing women in the sector.
- Equals focused on empowering women in their career growth through exposure, education, and community.
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Yourstory
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762
Image Credit: Yourstory
Fidelity marks up Lenskart valuation by 12% to $5.6B just months after investment
- Fidelity Management and Research Company has marked up the value of its stake in Lenskart by 12%.
- The valuation of Lenskart now stands at $5.6 billion.
- Fidelity's stake in Lenskart is valued at $32.97 million, up from $29.44 million in July.
- Lenskart raised $200 million in secondary investment from Temasek and Fidelity in June, valuing the company at $5 billion.
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TechCrunch
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815
Image Credit: TechCrunch
DeepRoute raises $100M in push to beat Tesla’s FSD in China
- DeepRoute.ai, a Shenzhen-based autonomous driving technology startup, has raised $100 million from Great Wall Motor.
- The startup aims to deploy its automated driving systems in as many vehicles in China as possible before Tesla's Full Self-Driving (FSD) system launches in the country next year.
- DeepRoute shifted its strategy from Level 4 robotaxi R&D to focus on Level 2+ and Level 3 autonomous technology development.
- The funds raised will be used to develop advanced visual-language-action models and explore future global robotaxi business opportunities.
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Yourstory
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756
Image Credit: Yourstory
Policybazaar parent PB Fintech's Q2 FY25 profits soar on the back of insurance premiums
- PB Fintech, parent of Policybazaar, reports a YoY growth of 43.81% in operational revenue and a profit of Rs 51 crore in Q2 FY25.
- Total expenses for Q2 increased by 30.44% to Rs 1,213 crore, with employee benefit expenses rising by 20% YoY.
- Insurance brokerage services contribute significantly to revenue, earning Rs 998 crore in Q2, marking a 58% YoY growth.
- Credit business revenue declined 8% YoY, while the 'New Initiatives' segment showed strong performance with a revenue growth of 87% YoY.
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Inc42
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776
Image Credit: Inc42
Swiggy IPO: Foodtech Major Bags INR 5,085 Cr From Anchor Investors
- Foodtech major Swiggy has raised INR 5,085 crore from anchor investors at INR 390 per share.
- 13.03 crore shares were allotted to 75 anchor investors, including Fidelity, HSBC India, Invesco India, Whiteoak Capital, and Societe Generale.
- 19 domestic mutual funds applied for the anchor round through 69 schemes, accounting for 40.65% of the total anchor allocation.
- Swiggy's IPO, consisting of a fresh issue of shares worth up to INR 4,499 crore, opens today and will conclude on August 8.
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