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ISN
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Bihar-based DeHaat's revenue jumps to Rs 2,675 crore in FY24; losses decline by 34%
- Bihar-based agritech platform DeHaat reported a strong revenue growth of 36% in FY24.
- The gross revenue reached Rs 2,674.8 crore, marking a significant increase from the previous fiscal year.
- Agri-output sales contributed the most to the revenue surge, accounting for 79.3%.
- DeHaat managed to reduce its operating losses by 34% and aims for further growth and profitability in the future.
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Startupreporter
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Celebrating Gurbaani Shaiba’s Extraordinary Success with- House of Saffron Baanishaa
- Gurbaani Shaiba's brand, House of Saffron Baanishaa, receives prestigious awards for excellence.
- House of Saffron Baanishaa is a leading saffron brand known for its quality and authenticity.
- Gurbaani Shaiba's leadership and dedication contribute to the brand's success.
- Gurbaani Shaiba is also involved in funding projects for employment and sustainable development.
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Startupreporter
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Mumbai Hosts Bharat Business Awards 2024, Celebrating Excellence and Innovation in Indian Business
- Mumbai hosted the Bharat Business Awards 2024 on October 24 to celebrate excellence and innovation in Indian business.
- The event recognized exceptional achievements in various industries and brought together industry leaders and honored guests.
- The awards were presented to distinguished entrepreneurs, highlighting their transformative role in shaping India's future.
- The event showcased the impact of India's business community and set a new benchmark for innovation.
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Startupreporter
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Melbat Live and Chennaiyin FC have prolonged their cooperation agreement
- Melbat Live will remain the title sponsor of Chennaiyin Football Club for the 2024/2025 season.
- The partnership includes displaying Melbat Live's logo on the club's playing and training kits, as well as on the football pitch, tickets, and social networks.
- Melbat Live aims to provide CFC fans with relevant information and breaking news about their favorite team.
- The partnership will also involve interactions with players and fans, exciting activations at the stadium, and promotions with ticket giveaways and branded equipment.
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Silicon
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152
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James Dyson Says ‘Spiteful’ Budget Will Kill Start-Ups
- James Dyson criticizes Labour's first Budget, calling it 'spiteful' and predicting it will kill entrepreneurship.
- Dyson specifically criticizes the closure of an inheritance tax loophole and reduction in business property relief on inheritance tax.
- He argues that the Budget is killing established family businesses and discouraging the start of new ones.
- Reaction from the business sector has been cautiously optimistic, with concerns raised about changes to capital gains tax and Business Asset Disposal Relief.
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Eu-Startups
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Berlin-based Xavveo secures over €7.9 million to enhance autonomous vehicle safety
- Berlin-based startup Xavveo secures €7.9 million to enhance autonomous vehicle safety
- Funding will support the development of Xavveo's distributed Photonic Radar system
- The system overcomes limitations of traditional sensors like LIDAR and vision-based technologies
- Xavveo's technology has potential in multiple sectors, representing a $26 billion market opportunity
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Yourstory
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Startup news and updates: Daily roundup (November 5, 2024)
- Mumbai-based QubeHealth has raised an undisclosed amount in a pre-Series A funding round, led by Unicorn India Ventures and CanBank Venture Capital. The start-up offers an array of healthcare payment systems to more than 300 Indian corporates and its employees and their families. The firm said it is on track to process more than $100m in healthcare payments this year; it plans to use the funding to develop its technology and offer new services such as embedded insurance and an enhanced AI recommendation engine.
- Hyderabad-based Induz has secured $780,000 in its first funding round. The cash injection comes from YourNest Venture Capital after the computer security firm won big business in fintech and banking. Induz was set up in the wake of the 2019 Capital One data breach and offers confidential computing and secure storage options to help tackle hacking.
- Sleep-related home furnishings brand Wakefit.co has clocked up 50% growth in its festive sale revenue versus the same time in 2020. The firm said offline sales rose by 100% as compared to the previous year. Wakefit.co attributed the success to a more extensive product range and greater omnichannel penetration.
- Furniture and home decor retailer Pepperfry has named Shubbam Sharrma as its new chief growth officer. Sharrma previously worked in similar roles at ImpactGuru, RedSeer, KSA Technopak and CarDekho. Shifts.net reports that Sharrma will be responsible for consolidating Pepperfry's business funnel and delivering increased acquisition rates, among other tasks.
- AI start-up Walnut has sold half of its business to Veefin Group for an undisclosed amount, with managing director Bala Lyer saying the tie-up would enable clients to tap the technology, natural language processing and machine learning that have driven the Walnut success story. Walnut provides AI products to financial services firms in Singapore, such as DBS and the Bank of Singapore.
- Garuda Aerospace and CYOL have signed a MoU aimed at enhancing agricultural practices throughout Asia, Australia and Africa. The deal will combine Garuda's drone technology with CYOL's software solutions. The use of drones is expected to aid crop monitoring while also providing farmers with real-time insights and resource management from remote areas. The initiative aims to promote sustainable practices and support economic growth within the sector globally.
- Indian healthcare platform Sushain Wellness and Wholeness has raised INR20m ($267,000) in seed funding from Prajay Ventures. The platform combines ayurvedic and homeopathic practices with advanced technology for a more comprehensive programme. Sushain said it planned to expand its artificial intelligence-driven healthcare solutions.
- Bengaluru-based UST has opened a second Indian delivery centre, occupying about 17,000 square feet in Helios Business Park, Karnataka. It will accommodate more than 300 new employees. UST hopes to increase its digital transformation services across retail, healthcare and finance following the successful growth of its India-based operations over the past 25 years.
- PhonePe, a digital payment provider in India, has launched a feature enabling contributions to that country's National Pension System through Bharat Connect and its phone app. Previously, NPS contributions were only possible on various financial websites. This collaboration aims to further simplify financial services and increase access for employees across the country.
- Australia's Monash University has teamed up with Apollo Hospitals in India to collaborate on digital health research and to share technology. The partnership, formalised through a Memorandum of Understanding, will enable the sharing of data and resources to drive research in clinical AI and digital health solutions.
- Canara HSBC Life Insurance will be teaming up with healthtech firm Fedo.ai to provide AI-enabled non-invasive health assessments to its customers in India. The platform aims to provide a faster, efficient and more accessible service for individuals seeking health assessments, especially in remote areas, and offer detailed insights into their health parameters.
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Inc42
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Paytm CPO Shreyas Srinivasan Exits Post Zomato Deal
- Shreyas Srinivasan, Paytm's chief product officer and head of consumer products, has announced his departure from the company.
- Srinivasan's exit follows the recent acquisition of Insider.in, Paytm's ticketing and events platform, by Zomato.
- Srinivasan was the founder of Insider, which was later acquired by Paytm in 2017.
- After the acquisition, Zomato's going out business scaled up rapidly during the second quarter of FY25.
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Hackernoon
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266
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Meet Flanks, Startups of the Year 2024 Nominee
- Flanks has been nominated in HackerNoon's annual Startups of The Year awards in Barcelona, Spain.
- Flanks is revolutionizing the wealth management industry through its end-to-end solution, enabling global financial players to streamline their operations and reduce manual processes to 0%.
- The solid product-market fit of Flanks is grounded in its steady growth in client base, adoption of advanced features and recognition from prestigious awards and industry players, such as LinkedIn's Top Startups in Spain and Barcelona for Sep-Oct 2024.
- Founded in 2019 and headquartered in Barcelona, Flanks has raised €9.8m in investment, which validates the market's confidence in the company's vision and impact.
- Flanks started with data aggregation for wealth managers and expanded its services across Spain in 2021, and after identifying the need for a more comprehensive approach, Flanks Lume was developed in 2023, which recently launched, further enhancing the wealth management solution.
- With +100 clients spread worldwide, +72 global employees based in Barcelona, +39b USD assets under management and +350 connections with financial institutions, Flanks has emerged as one of the trusted and leading solution providers in wealth management.
- Flanks hopes this nomination will make them increasingly visible in the industry, allowing more financial institutions to consider Flanks as their partner and make wealth management easier and more accessible for everyone.
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VIE Stories
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Brands Endorsed By Virat Kohli
- Virat Kohli has been associated with a number of brands as their ambassador, such as Myntra, Puma, HSBC India, Noise, Mobile Premier League and Philips India.
- Other brands Kohli endorses include Blue Star, Audi India, Manyavar, Toothsi, Great Learning, Too Yumm, Volini, Wellman, Vivo, Duroflex, American Tourister, O'cean Beverages and Herbalife Nutrition.
- Kohli has helped these brands to extend their reach and attract new customers with his unique persona and market value.
- In addition to endorsing these brands, Kohli has also launched his own ventures such as Wrogn and Chisel, which reflect his entrepreneurial spirit.
- Through his brand endorsements and business ventures, Kohli has demonstrated his vision, passion and hard work in every aspect of his life.
- His association with Myntra, Puma and Audi India is among the most popular and longstanding ones.
- Kohli’s deals with Puma, Adidas and Audi India have been among the most profitable endorsement deals ever for an Indian sportsman.
- Kohli’s association with brands like Duroflex, Hero MotoCorp and MRF Tyre highlights his commitment to health and fitness, community building and pushing limits and challenging oneself to achieve greater things.
- Kohli’s deal with MRF Tyre, worth Rs. 8 crore each year since 2015, is one of the most expensive for an Indian athlete.
- In addition to promoting brands, Kohli has also used his brand and market value to create opportunities for employees and aspiring entrepreneurs through his business ventures like Wrogn and Chisel.
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Eu-Startups
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Tampere-based Quanscient secures €5.2 million to bring engineering simulation into the quantum era
- Finnish technology firm Quanscient has raised €5.2 million in a funding round to integrate quantum computing with engineering simulations.
- Quanscient's platform combines cloud-native multiphysics solvers, cloud computing, and planned quantum features to enhance simulation capacity.
- The company aims to release a pilot of its first quantum-integrated product in early 2025 and expand the scope of simulations for complex engineering problems.
- With industry partnerships and growing demand for digital R&D tools, Quanscient is poised to lead in quantum simulations.
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SiliconCanals
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Tampere-based Quanscient secures €5.2M to make product development easier through digital prototypes and simulations
- Tampere-based company Quanscient has secured €5.2M in funding to revolutionize engineering simulations through quantum algorithms.
- The funding round was led by Crowberry Capital and joined by Speen Holding, Maki.vc, and First Fellow.
- Quanscient aims to integrate groundbreaking quantum algorithms into their multiphysics simulation platform.
- The company's cloud-based platform accelerates product development for industries like energy, semiconductors, and aerospace.
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TechBullion
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47
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The Evolution of Chicago as a Major Tech Hub in the Midwest
- Chicago is rapidly emerging as one of the Midwest’s premier tech hubs with an influx of startups, investment opportunities, and talent.
- Chicago transformed into a breeding ground for tech talent as an aftermath of the arrival of broadband internet.
- Chicago is home to several major players in tech domain like Salesforce, Grubhub and Motorola Solutions.
- Job growth, enhanced workforce diversity and investment opportunities are visible impacts of the growth of tech firms in the city.
- Renowned universities like the University of Chicago and Northwestern University offer cutting-edge programs in computer science, engineering and entrepreneurship.
- Incubators like 1871 provide budding entrepreneurs with resources, mentorship and networking opportunities.
- Chicago’s strong financial sector provides an ideal backdrop for fintech innovations to flourish.
- Health technology is another area of growth with startups focusing on telemedicine, wearable health devices and healthcare analytics.
- Chicago’s evolution as a tech powerhouse is far from over, with a growing pool of talent and continued support from local government and organizations.
- Chicago is a city of innovation and growth, with a rich history and ambitious vision for the future.
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Medium
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From Uncertainty to Certainty: Mastering Product-Market Fit in B2B and B2C
- In the B2C sector, achieving product-market fit centers around consumer engagement and retention.
- One crucial metric to gauge PMF is a customer retention rate of at least 20%.
- In the B2B landscape, establishing product-market fit is a structured and analytical process.
- By solidifying the certainties in market needs, product viability, and customer willingness to pay, startups can navigate their paths to success more effectively.
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Hackernoon
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Image Credit: Hackernoon
Meet Textomap, Startups of the Year 2024 Nominee
- Textomap has been nominated in HackerNoon's annual Startups of The Year awards in Berlin, Germany.
- Textomap is a startup that simplifies the process of creating interactive maps for location-based content and educational material using AI.
- They have achieved product-market fit by launching a free MVP and receiving positive feedback from the travel sector. They now have paid subscriptions and users across various industries.
- Textomap has created over 100,000 maps, gained 10,000 users, and received media coverage and awards for their educational tool.
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