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Startup News
Yourstory
19h
22
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Startup news and updates: daily roundup (November 13, 2024)
- Ecommerce AI Startup BiteSpeed has raised $3.5 million in a Pre-Series A funding round led by Peak XV’s Surge, with participation from other investors.
- BiteSpeed plans to use the funding to accelerate hiring efforts, expand globally, and deepen research and development in generative AI.
- GoKwik, an ecommerce enabler, has appointed Sharad Gupta as Senior Director, Products, to enhance and scale solutions for a seamless checkout and payment journey.
- PW School of Startups has opened applications for Aarambh 2.0, a programme aimed at nurturing aspiring entrepreneurs in India.
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VIE Stories
19h
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Ananya Birla Business, Songs, Net worth, Education and Wiki Bio
- Ananya Birla is an Indian entrepreneur, musician, and mental health advocate.
- She founded Svatantra Microfin, a microfinance institution focused on empowering women in rural India.
- Ananya is also a singer-songwriter and one of the few Indian artists to gain international recognition in pop music.
- Her net worth is estimated to be around $13 billion.
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Eu-Startups
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Hovedstaden-based NitroVolt secures €3.5 million to realise green ammonia production
- Danish startup NitroVolt has secured €3.5 million in seed funding for its green ammonia technology.
- The funding will be used to move NitroVolt's lab-based technology to a real-world setting and build a demonstration unit for decentralized ammonia production.
- NitroVolt aims to produce ammonia directly at farms using its 'Nitrolyzer' system, which combines air, water, and renewable electricity.
- By enabling green ammonia production, NitroVolt aims to reduce CO₂ emissions and provide nitrogen-fertilizer to at-risk regions.
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Economic Times
20h
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Prosus gains $2 billion on Swiggy investment with IPO valuation
- Prosus NV has made more than $2 billion on its Swiggy investment.
- Prosus and Naspers have invested $1.3 billion in Swiggy, targeting an IPO valuation of up to $11.3 billion.
- Prosus will sell down shares in the IPO and retain 25% of Swiggy.
- Prosus continues to focus on sectors such as online food, classifieds, payments, and fintech.
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Yourstory
20h
846
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AI revolution will revive traditional jobs: Zoho CEO Sridhar Vembu
- Sridhar Vembu, CEO of Zoho Corporation, believes that the AI revolution will lead to a revival of traditional jobs.
- Vembu suggests that as production gets automated, goods and services become more affordable, leading to better wages for traditional jobs.
- He emphasizes the growing demand for jobs that require a human touch and cannot be replicated by technology.
- Vembu cautions against over-reliance on technology and advocates for a fair distribution of AI's productivity gains across different sectors.
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Startup Pedia
20h
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Swiggy's IPO Debut Setting Record by Making 500 Employees "Crorepatis"
- Swiggy's IPO debut on the NSE creates history as it distributes ₹9,000 crore among its 5,000 long-serving employees.
- The IPO makes approximately 500 Swiggy employees millionaires through Employee Stock Ownership Plans (ESOPs).
- Founders and senior executives, including CEO Sriharsha Majety, are expected to benefit significantly from the IPO.
- Swiggy's IPO valuation of Rs 11,300 crore indicates high investor interest in the company's prospects.
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VIE Stories
20h
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Payments and Business Banking platform Razorpay launches Venture Investment Program
- Payments and business banking platform Razorpay has launched the Razorpay Venture Investment Program.
- The initiative aims to support early-stage B2B startups across various sectors by providing capital, technological assistance, and leadership support.
- The program is open to startups in pre-seed and Series A stages, and Razorpay plans to fund up to $1 million per firm.
- Razorpay was recently valued at over $7.5 billion and has raised $800 million through various fundraising rounds.
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VentureBeat
20h
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Monster Hunter Outlanders is new mobile game coming from TiMi and Capcom
- Monster Hunter Outlanders is a new mobile game coming from TiMi Studio Group of Tencent Games and Capcom.
- It is an Open-World Survival game set in the Monster Hunter universe, allowing players to explore and survive in unique regions of an open-world map featuring natural environments, ecosystems, and monsters.
- Players can craft and build individualized gear and tools, and partake in solo or co-op hunting experiences with up to four players.
- TiMi Studio Group aims to provide an authentic hunting experience and an expansive open world for players to enjoy with friends, anytime and anywhere.
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Inc42
20h
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Prosus Nets $2 Bn From Total Investment In Swiggy
- Global investment giant Prosus has earned $2 Bn from its total investment in Swiggy.
- Prosus sold shares worth $500 Mn as part of Swiggy's IPO, making over 3X returns on its investment.
- Prosus retains a 25% stake in Swiggy following the IPO.
- Swiggy's public debut comes as it faces competition from rivals like Zomato and intensifying competition from Reliance Retail and Flipkart.
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VIE Stories
20h
182
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SaaS Startup BiteSpeed has Raised $3.5 Million From Peak XV’s Surge
- SaaS startup BiteSpeed has raised $3.5 million in pre-series A funding.
- The funding round was led by the accelerator program Surge from Peak XV Partners.
- BiteSpeed plans to use the funds to expand in technical, sales, and marketing domains.
- The company aims to increase its presence in Southeast Asia, the Middle East, Europe, and North America.
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VIE Stories
20h
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BlueGreen Ventures has Launched its Maiden Fund at $75 Million
- BlueGreen Ventures, a new investment company, has launched its maiden fund with a target raise of $75 million, along with a $25-30 million greenshoe option.
- The fund plans to invest in pre-IPO businesses through secondary deals and support entrepreneurs in their early stages, focusing on consumer companies, finance, climate, and sustainability.
- BlueGreen Ventures aims to lead early-stage investments with an average check size of Rs 7-12 crore, while late-stage enterprises will receive Rs 20-30 crore.
- The company has received pledges from CEOs of multinational corporations and plans to prioritize Indian entrepreneurs solving local issues with Indian solutions.
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Eu-Startups
20h
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Barcelona-based Monster League Studios secures over €3.7 million for Web3 gaming expansion
- Barcelona-based Monster League Studios has raised over €3.7 million for the expansion of its Web3 gaming ecosystem.
- The funds will be used to support the development of Mokens League's gaming ecosystem, including in-game purchases, player rewards, and the use of its $MOKA utility token.
- Monster League Studios aims to create an interconnected gaming experience where players can carry assets across multiple game titles.
- The company was also incubated by Google, enhancing its game metrics and positioning it competitively in the industry.
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TechCrunch
21h
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After spending three years working on SMS verification at Zenly, Prelude founders want to fix SMS onboarding
- French startup Prelude, focused on SMS verification, has secured new funding from Singular and Seedcamp.
- Prelude's founders, who previously worked at Zenly, realized that implementing reliable SMS verification codes is a challenging and time-consuming task.
- SMS verification can be expensive for companies with large user bases, with costs rivaling other infrastructure expenses.
- Prelude aims to solve this problem by offering smart routing for phone number verification, helping improve conversion rates and reduce costs.
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Yourstory
21h
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Nykaa appoints ex-Myntra exec to strengthen its fashion vertical; incorporates new unit in GCC
- Nykaa appoints Abhijeet Dabas as EVP and Business Head of fashion eCommerce.
- Dabas will be responsible for expanding Nykaa Fashion's online growth, global footprint, and strategic partnerships.
- Nykaa's fashion vertical witnessed a 10% rise in GMV in Q2 due to seasonality and shift in festivals.
- Nykaa incorporates a new unit, Nysaa Distribution FZE, in Dubai, focused on international and domestic sales of beauty and personal care products.
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Startup Pedia
21h
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Zomato Welcomes Swiggy's Debut on NSE, Share Priced Rs 420 About 8% Premium Over IPO Price
- Swiggy made a strong debut on the NSE with shares listed at a premium of 7.69% over the IPO price.
- The initial market capitalization stood at Rs 89,549.08 crore, reflecting strong investor interest.
- Despite the positive listing, Swiggy's shares experienced volatility, declining nearly 5% after listing.
- Zomato has welcomed Swiggy's debut in the stock market, showing friendly competition.
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