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Startup News
TheStartupMag
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4 Reasons Why Hiring a Personal Injury Lawyer Isn’t Just Another Expense
- Maximizing Compensation: A personal injury lawyer can negotiate with insurance providers to ensure fair compensation for your injuries.
- No Upfront Costs: Most personal injury attorneys work on a contingency fee basis, eliminating the need for upfront payments.
- Legal Expertise and Support: Personal injury lawyers handle all the legal aspects, providing emotional and practical support throughout the process.
- Better Chances of Success: Hiring a personal injury attorney increases the likelihood of getting the money you are entitled to, as insurance companies take claims with legal representation more seriously.
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TechCrunch
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Printful and Printify ink a merger deal
- Printful and Printify, two on-demand printing startups with Latvian roots, are merging to form a single company.
- The merger aims to unlock economies of scale, efficiencies, and profitability in the on-demand manufacturing space.
- The companies will maintain their existing brands for now, but a new company name and management team are planned.
- The merged company plans to expand into new markets and offer tailored solutions for customers.
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TheStartupMag
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5 Tips to Improve Your Chances of a Successful Personal Injury Case
- To improve your chances of a successful personal injury case, there are five tips you can follow.
- 1. Get in touch with a New Orleans personal injury lawyer who can guide you through the process.
- 2. Bring in industry experts to support your claim in court, such as doctors, engineers, or financial experts.
- 3. Gather strong evidence that cannot be disproved, including photos, medical records, receipts, and witness statements.
- 4. Keep the details of your case confidential and discuss them only with your lawyer to avoid any risks or misunderstandings.
- 5. Consider settling outside of court if it offers a fair outcome, as trials can be risky and time-consuming.
- Take your time to research and hire the best personal injury lawyer with experience and a successful track record.
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Inc42
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351
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Speciale Invest-Backed Robotics Startup CynLr Raises $10 Mn To Reform Manufacturing Processes
- Bengaluru-based robotics startup CynLr has raised $10 Mn in a Series A funding round led by Pavestone and Athera Venture Partners.
- The funding will be used to bolster research & development, software engineering capabilities, and double the workforce.
- CynLr aims to enhance its CyRo robotics platform for improved cost efficiency and customer experiences.
- The startup plans to expand manufacturing capacity and reach a revenue milestone of $22 Mn by 2027.
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Inc42
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Robotics Startup CynLr Raises $10 Mn To Automate Manufacturing Processes
- Bengaluru-based robotics startup CynLr has raised $10 Mn in Series A funding round led by Pavestone and Athera Venture Partners.
- The funding will be used to bolster research & development, software engineering capabilities, and double the workforce.
- CynLr aims to strengthen its core CyRo robotics platform to enhance hardware reliability and software performance.
- The company plans to expand manufacturing capacity and achieve the goal of deploying one robot system per day.
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Inc42
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207
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Centre Sends Notice To Wikipedia Over Bias, Inaccuracy Complaints
- The Centre has issued a formal notice to Wikipedia concerning complaints of bias and inaccurate information on its web page.
- The ministry of information and broadcasting has expressed concerns about a small group exercising editorial control on Wikipedia's pages.
- The government has questioned why Wikipedia is classified as an intermediary rather than a publisher.
- Legal battles have arisen over alleged defamation and inaccuracies promoted by Wikipedia as an intermediary platform.
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Eu-Startups
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Hello CleanTech 3.0: A unique bridge between innovative startups and industry leaders (Sponsored)
- The third edition of the Hello CleanTech programme, organised by EIT InnoEnergy, is now open for applications.
- Hello CleanTech 3.0 aims to drive the next generation of sustainable technology breakthroughs by establishing a unique bridge between innovative startups and industry leaders.
- Selected participants will receive specialised support in business and technology development, funding opportunities, and connections to leading venture capital.
- The programme offers startups the opportunity to connect with investors and industry leaders, accelerating their path to securing funding and partnerships.
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TechCrunch
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AI safety advocates tell founders to slow down
- AI safety advocates urge startup founders to proceed cautiously and consider ethical implications.
- The rapid rollout of AI-based technologies has raised concerns about issues such as content moderation and misinformation.
- Founders are urged to implement guardrails and consider the impact of their products on people's lives.
- Advocates emphasize the importance of red-teaming models, understanding undesirable behaviors, and building closer relationships with the user community.
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Inc42
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Infra.Market’s FY24 Profit Crosses INR 350 Cr, Sales Breach INR 14K Cr Mark
- Mumbai-based B2B marketplace startup Infra.Market reported a profit of INR 378 Cr in FY24, a 144% increase from the previous year.
- The startup's operating revenue stood at INR 14,530 Cr, a 23% increase from the previous year.
- Infra.Market primarily earns revenue by selling construction materials and its total revenue reached INR 14,743.4 Cr.
- Despite having cash reserves of INR 275.1 Cr, the startup is planning to raise $150 Mn - $200 Mn in funding and is also considering an IPO.
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Economic Times
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Swiggy IPO: Here's how it stacks up against Zomato
- Swiggy’s IPO opened on Tuesday, going public at a valuation of $11.3 billion, rivaling Zomato.
- Zomato’s operating revenue for Q1FY25 was Rs 4,206 crore, compared to Swiggy’s Rs 3,222 crore.
- During the quarter, Swiggy reported a net loss of Rs 611 crore against Zomato’s net profit of Rs 253 crore in the same period.
- However, Swiggy’s quick commerce venture, Instamart, recorded a gross order value of Rs 2,724 crore compared to Zomato-owned Blinkit’s Rs 4,923 crore in the same period.
- Swiggy boasted 557 dark stores at the end of June quarter, while Blinkit had 639, giving Blinkit a higher GOV and average order value compared to Instamart.
- For Q1FY25, Swiggy’s food delivery business reported a gross order value of Rs 6,808 crore compared to Zomato’s Rs 9,264 crore.
- Zomato had 20.3 million monthly transacting customers in Q1FY25 compared to Swiggy’s 14.03 million.
- Swiggy plans to raise Rs 4,499 crore through its IPO, while Zomato announced raising Rs 8,500 crore through qualified institutional placement.
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TechRound
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Experts Share: What To Consider When Running An AI Startup
- Microsoft and Nvidia have launched a new programme to support AI startups in the UK.
- Startups joining the programme will get practical help with technology, marketing strategies, and connections to investors.
- The programme backs startups that want to create solutions to improve everyday life, generate jobs, and contribute to economic growth.
- Each startup will get dedicated help from Microsoft’s AI Black Belt team, specialists in artificial intelligence and machine learning.
- Nvidia will also support startups through training sessions at its Deep Learning Institute, alongside access to its computing tools, designed to improve AI project development and performance.
- All AI startups in the UK that have already launched products and are ready for the next phase of growth can join.
- Of course, funding and support are not the only things to keep in mind when running an AI startup.
- Experts have shared that AI startups need to focus on specific opportunities and understand how their AI tool can impact a company’s bottom line.
- AI startups must consider ethics, user experience, data quality, team dynamics, and scalability.
- Startups should simplify their products, customer onboarding, hiring, and burn rate, to keep organizations efficient and agile.
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Hitconsultant
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Nurse Capital Invests in Wave Therapeutics & The Nursing Beat
- Nurse Capital has announced its first seed-round investments in two nurse-led startups, Wave Therapeutics and The Nursing Beat.
- Wave Therapeutics has developed an AI-powered robotic solution to prevent and treat pressure injuries.
- The Nursing Beat is a digital media platform that delivers a tailored daily newsletter and resources to empower nurses.
- Nurse Capital aims to provide capital and leverage their network of nurse executive leaders to support the growth and impact of these ventures.
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ISN
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Innovartan Learning Solutions raises Rs 5 crore funding in a pre-seed funding round
- Noida-based edtech startup Innovartan Learning Solutions has raised Rs 5 crore in a pre-seed funding round.
- The funding round was co-led by investors Gokul Rajaram and Amit Singhal.
- Innovartan aims to bridge the gap between school education and competitive exam preparation.
- The funding will be used to equip schools with resources for integrated competitive exam coaching.
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Yourstory
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376
Image Credit: Yourstory
Euler Motors’ net loss widens to Rs 227 crore in FY24
- Electric commercial vehicle manufacturer Euler Motors reports a net loss of Rs 226.9 crore in FY24.
- Operating revenue increased by 3X to Rs 189 crore in FY24.
- Cost of materials consumed rose by 187% to Rs 198 crore, contributing to a total expense of Rs 420 crore in FY24.
- Euler Motors sold 3,700 vehicles and expanded its presence to 22 cities in FY24.
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Economic Times
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Image Credit: Economic Times
Udaan logs lower net loss, flat operating revenue in FY24
- Udaan, the business-to-business ecommerce platform from India has posted flat revenues despite a restructuring effort to cut losses. This year’s revenue of Rs 5,707 crore is about the same as the previous year, while net loss for FY24 reduced by nearly a fifth to Rs 1,674 crore YoY. It cut costs by 35% YoY on staff, 40% on outsourced manpower to Rs 167 crore, and marketing costs by over three-quarters to just Rs 9 crore YoY.
- Udaan CEO’s said the firm is on track to profitability as it 'achieved a 30% reduction in absolute Ebitda burn' with 'disciplined cost optimisation initiatives' given the '35% reduction in SG&A expenses' in the firm's 'robust playbook model'.
- Essentials' vertical, a combination of FMCG, staples and pharmaceutical categories, and 'Discretionary' vertical, mainly general merchandise, lifestyle and electronics made up the majority of the company’s topline with sales of traded goods accounting for over 98% of its revenue. The smaller income streams recorded nil revenue in FY24, including 'selling and distribution revenue, and platform fee' that had continued into FY23.
- UK investment firm, M&G Prudential plans to invest $80-100 million in Udaan alongside existing investors including Lightspeed Venture Partners, DST Global and Tencent. Udaan's valuation saw a 44% drop to $1.8bn last year, indicating the possibility of funds being offered at the flat valuation.
- The company’s founders have kept away from its operations for over two years now but still hold board positions. It was founded in 2016 by Vaibhav Gupta, Sujeet Kumar, and Amod Malviya, three former executives from Flipkart.
- The company improved its net operating cash outflow to Rs 920 crore in FY24, against Rs 1,299 crore in FY23.
- Sale of traded goods was the biggest contributor to Udaan's revenue in FY24 as it made over 98% of revenue with income on account of delivery services, advertising revenue and business support service fees accounting for the rest.
- Udaan had laid off 1,200 employees in 2022 and in December 2023 had laid off 100-120 employees aiming to reduce redundancies.
- In September 2023, Udaan combined its Essentials vertical with its Discretionary vertical.
- Kiran Thadimarri, Udaan's senior vice president of finance, wrote on LinkedIn that the company is “on track to achieving profitability, with an impressive 60% revenue growth and over a 50% increase in daily transacting buyers, driving deeper market penetration and increasing wallet share among retailers”.
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