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Startup News
Yourstory
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Royal Enfield launches electric bike segment
- Royal Enfield has entered the electric bike space by unveiling its first model, the Flying Flea C6 and Flying Flea S6.
- The company plans to introduce several products under the new electric vehicle brand, Flying Flea.
- Royal Enfield will source battery cells from outside and produce other components in-house.
- The company has invested in R&D, infrastructure, and a dedicated team for EV development.
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TechJuice
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SECP to Host Pakistan Startup Summit in Karachi Next Week
- The Securities and Exchange Commission of Pakistan (SECP) is organizing the Pakistan Startup Summit in Karachi from November 11th to 12th.
- The summit aims to create a collaborative environment for discussing important issues in logistics, education, finance, and technology, as well as regulatory developments.
- Key topics of discussion at the summit include embedded finance, data protection, P2P lending, and digital financing solutions.
- The summit will bring together entrepreneurs, investors, regulators, and influential figures in the startup ecosystem to foster mutual support and encourage young entrepreneurs.
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Yourstory
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Benny Abraham appointed as EVP & Chief Solutions Officer at epiplex.ai
- Epiplex.ai has appointed Benny Abraham as EVP and Chief Solutions Officer.
- Abraham will drive the company's product strategy and oversee the execution of innovative solutions.
- His extensive experience in technology and AI solutions will support epiplex.ai's growth in the global market.
- Abraham's appointment reflects the company's commitment to innovation and delivering value to clients.
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Medium
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3 AM Thoughts: What My First Startup Really Taught Me
- Building a startup is a messy and challenging journey that tests your resilience and adaptability.
- The author shares their experience of building their first startup and the lessons they learned along the way.
- They highlight the importance of truly listening to customer needs and avoiding the trap of retrofitting solutions to match investor expectations.
- Despite the failures and hardships, the author embraces the startup journey and encourages other founders to keep trying and believe in their vision.
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Startupreporter
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REHAU Celebrates the Grand Opening of First Experience Centre in Noida
- REHAU celebrates the grand opening of its first Experience Centre in Noida, marking its expansion into the Delhi-NCR region.
- The Noida Experience Centre showcases REHAU's product range, commitment to quality, style, and performance.
- REHAU unveils the RAUVISIO riviera Acrylic Laminate Collection, offering vibrant hues and elegant finishes for interior spaces.
- The Noida Experience Centre aims to drive increased interest and business opportunities within the architectural and design communities.
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ISN
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322
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Healthcare payments startup QubeHealth raises funding from Unicorn India Ventures, CanBank VC
- Healthcare payments startup QubeHealth has raised funding from Unicorn India Ventures and CanBank VC.
- QubeHealth-Pay's app helps Indians manage healthcare expenses and offers cash-back discounts and medical financing.
- The funding will be used for technology investment and new feature launches.
- QubeHealth claims to have seen over 400% growth this year and plans to raise $9 million in Series A funding.
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Yourstory
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402
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Dronetech firm Marut Drones bags $6.2M in Series A funding from Lok Capital
- Hyderabad-based drone technology firm Marut Drones has raised $6.2 million in Series A funding from Lok Capital.
- The company plans to use the funds for developing advanced agricultural drones, expanding its network and service centers, and establishing drone agriculture service hubs.
- Marut Drones aims to modernize agriculture, create rural employment opportunities, and enhance productivity for farmers.
- The drone market in India is projected to reach $15 billion by 2030.
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Inc42
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8
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Riding On Festive Season, ONDC Logs 14 Mn Transactions In October
- State-owned Open Network for Digital Commerce (ONDC) recorded 14 Mn transactions in October
- Transactions increased by 7.6% compared to the previous month
- Transactions spiked by 200% compared to the same period last year
- Mobility segment accounted for 5.5 Mn transactions, while non-mobility segment recorded 8.4 Mn transactions
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TechBullion
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8
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The Future of Startups in Virginia’s Tech Scene
- Virginia’s tech industry is booming, quickly becoming a top spot for new startups and innovation.
- The heart of Virginia’s tech scene is Northern Virginia, especially in Arlington, Fairfax, and Alexandria.
- But Northern Virginia isn’t the only area making waves. Richmond, the state capital, and Norfolk are also gaining traction as startup-friendly cities.
- Virginia’s access to skilled workers is a huge advantage for startups.
- The Virginia government recognizes the power of tech to boost the economy, so it offers plenty of support to startups.
- Because of Virginia’s close ties with the federal government, cybersecurity has become a leading industry in the state.
- In addition to cybersecurity, Virginia’s tech scene is growing in other areas like AI, data analytics, and green tech.
- Getting funding is key for startups, and Virginia’s investment scene is on the rise.
- Virginia’s tech ecosystem is well-positioned for success. With continued support from the government, access to skilled workers, and growing investments, Virginia’s startups are ready to thrive.
- Virginia’s tech ecosystem is still developing, but it has huge potential.
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Inc42
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876
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Netflix India’s Profit Jumps 49% To INR 52.4 Cr In FY24
- Netflix India's net profit increased by 49% to INR 52.4 Cr in FY24 from INR 35 Cr in the previous fiscal year.
- The company's revenue rose by 28.5% to INR 2,845.7 Cr in FY24.
- Personnel expenses decreased by 10.6% to INR 105.98 Cr in FY24.
- Netflix faces competition from Jio Cinema and has faced controversies regarding its business practices in India.
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ISN
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'Doesn't matter how much money you make, the universe has ways to take it all,' says Anupam Mittal
- Anupam Mittal, founder of Shaadi.com, shared an unexpected lesson about money.
- He stated that regardless of how much money one earns, the universe has ways to take it all.
- Mittal emphasized the importance of being vigilant and strategic with financial planning.
- He believes that investing in oneself and developing unique capabilities can attract wealth.
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Medium
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305
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Navigating Peru’s Tech Startup Ecosystem: A 2024 Overview
- A new wave of micro-VCs is emerging in Peru, filling the funding gap for early-stage startups.
- Peru's startup ecosystem is fueled by government support, venture capital, and a passionate community.
- Cities like Arequipa, Trujillo, and Piura are emerging as significant tech talent centers.
- Peru's climate tech sector is thriving, attracting investments in innovative solutions to protect the environment.
- Artificial Intelligence (AI) is reshaping industries in Peru, offering opportunities for startups to address local challenges.
- EdTech and FinTech are key sectors in Peru's startup scene, with a focus on online learning and financial inclusion.
- Peruvian startups are on the rise, showcasing innovative solutions across various sectors.
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Inc42
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748
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Cashfree Losses Widen By 2.17%, Revenue Up By 4.19% In FY24
- Cashfree Payments reported a 2.17% increase in net loss to INR 136 Cr in FY24.
- The operating revenue of Cashfree increased by 4.19% to INR 639.3 Cr in FY24.
- Cashfree, a fintech platform, offers digital payments solutions and API banking services.
- Cashfree holds the RBI's prepaid payment instrument (PPI) and payment aggregator-cross border licences.
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Yourstory
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Kenko Health co-founder alleges regulatory roadblocks led to startup’s collapse
- Aniruddha Sen, Co-founder of health insurtech startup Kenko Health, criticized the Insurance Regulatory and Development Authority of India (IRDAI) for obstructive practices.
- Sen highlighted that regulatory obstacles in obtaining an insurance license were the main reason for Kenko Health's downfall.
- He described bureaucratic obstacles and alleged a lack of support for ambitious entrepreneurs.
- Sen questioned IRDAI's commitment to fostering innovation and called for regulatory transparency and reform.
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ISN
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533
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Cashfree Payments' revenue jumps 4.7% to Rs 643 crore in FY24; continues to operate in loss
- Cashfree Payments reported a 4.7% increase in revenue to Rs 642.7 crore in FY24.
- All revenue came from transaction-based fees and business services.
- Employee benefit expenses increased by 23%, reaching Rs 245 crore in FY24.
- The company reported a loss of Rs 135 crore in FY24.
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