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Startup News
Yourstory
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Why Instamart lagged behind peers and more: Q&A with Swiggy CEO Sriharsha Majety
- Swiggy's CEO spoke about the company's key businesses, including food delivery and quick commerce, as the company prepares for its upcoming public listing.
- Swiggy will raise Rs 4,499 crore through the fresh issue of shares and is hoping to outpace its core food delivery business with its quick commerce offerings.
- Swiggy is looking to offer consumers more choice with extended delivery timelines and by rolling out separate infrastructure dedicated to expanded selection.
- Instamart is looking to increase its EBITDA margin by bridging the gap in average order value and making more selection and SKUs available.
- Swiggy's new Bolt service for restaurant partners has had a phenomenal response and is working towards building density and selection.
- Swiggy has a well-oiled process for refunds and returns which is built ahead of time in light of expanded selection in grocery.
- Swiggy's CEO believes that a founder mode needs to be about understanding the most important things for the company and which areas can help the business’s trajectory the most.
- Instamart's growth from 0-1 has required a different set of people to scale the business from 1-100 and this is an important learning for Swiggy as it continues to expand.
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TechBullion
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8
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The Startup Culture in Boston: What Makes It Unique?
- Boston's startup scene thrives on a few key elements that set it apart.
- Access to funding is vital. Boston boasts a vibrant financial landscape that’s crucial for startups. With numerous venture capital firms and angel investors in the area, startups can secure the financial backing they need to grow.
- The collaborative environment enhances creativity. Entrepreneurs often connect at meetups, co-working spaces, or local events. Sharing ideas fosters growth and helps refine concepts.
- Proximity to elite universities like MIT and Harvard creates a rich talent pool. Students and graduates bring fresh perspectives, making Boston an incubator for new ideas.
- Supportive government initiatives also play a role. Local programs promote entrepreneurship through grants, mentorships, and networking opportunities tailored specifically for startups.
- Boston has become a launchpad for numerous startups that have redefined industries. Companies like HubSpot and Drift are examples of Boston’s unique ecosystem.
- Boston’s high cost of living presents a significant hurdle for startups and their teams. Housing prices have soared, making it challenging for entrepreneurs to attract talent without offering competitive salaries.The expense doesn’t stop at rent or mortgages. Basic necessities like groceries, transportation, and utilities also come with hefty price tags.
- Boston’s startup culture faces challenges with diversity and inclusivity. The tech scene often mirrors the demographics of its surrounding areas, which can lead to a homogeneous environment.Efforts are being made to change this narrative, but progress is slow.
- Silicon Valley often casts a long shadow over other startup ecosystems, and Boston is no exception. The tech giants of the West Coast have set high expectations for innovation and growth.
- Boston's startup scene is poised for exciting growth. As technology continues to evolve, so will the opportunities.Emerging sectors like biotech and artificial intelligence will play a pivotal role.
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Startupreporter
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212
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Sharmila Tagore Attended Bhopal Pataudi Cup Tournament Held In Delhi
- Achievers emerged winners of Zoom Communications Bhopal-Pataudi Cup (06 Goal) Tournament, beating Jindal Panther by 9 goals to 8 in finals.
- Hurr Ali was adjudged the Most Valuable Player, and Mare Mirchi from the Achievers Polo team was adjudged the Best Polo Pony.
- Ms Sharmila Tagore presented the Trophy and prizes to the players in the presence of Gaurav Kant, Executive Director of Zoom Communications.
- Over 500 people from different walks of life, including Diplomacy, Law, Politics, Defence, Bureaucracy, & Business, attended the event.
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Hackernoon
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Startups of The Year: Meet the Media Industry
- Startups of The Year 2024 showcases exceptional startup stars across 100 industries.
- Media has significantly evolved over the years, from the first TV to now consuming and creating content on various platforms.
- Content creation has become democratized and platforms like YouTube and TikTok have become pivotal for news and entertainment.
- Streaming services like Netflix and Hulu have dethroned cable TV and revolutionized how we consume shows and movies.
- Despite these innovations, the industry faces significant challenges such as misinformation, fake news, and a fragmented competitive landscape that intensifies the struggle for audience engagement and attention.
- The media industry is exploring ways to enhance engagement and create richer, more immersive experiences, and new possibilities for content creation and consumption continue to be created.
- Film, blogging, games, music, art, social media, news & journalism, marketing, events, design, messaging & communications come under the Media umbrella.
- HackerNoon’s Tech Categories has its dedicated page for Media where one can find every story published on HackerNoon related to Media.
- HackerNoon is contributing to media by Web 2.5 documentary that centers on the internet’s evolution and complex history.
- Startups of The Year 2024 is HackerNoon's community-driven event recognizing and celebrating tech startups of all shapes and sizes.
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VIE Stories
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361
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Logic Fruit Technologies Appoints Sourabh Varma as CFO and Head of Business & Strategy
- Logic Fruit Technologies has appointed Sourabh Varma as Chief Financial Officer (CFO) and Head of Business & Strategy and Gurudutt Bansal as the Senior Vice President of Engineering.
- Sourabh Varma brings over 20 years of extensive experience in managing large-scale operations to the leadership team of Logic Fruit Technologies.
- Gurudutt Bansal has an impressive career spanning over 29 years in the semiconductor and electronics industry, and his addition to Logic Fruit Technologies marks a significant milestone in their journey toward innovation and excellence.
- Logic Fruit Technologies, based in Gurugram, India, designs and deploys embedded solutions for customers around the world.
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Economic Times
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246
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Space startups paying premium for critical components, flag lack of manufacturing ecosystem
- Indian space tech startups are grappling with significant challenges, especially in the manufacturing of critical components.
- Startups are paying premium prices for electronics, semiconductor chips, solar panels, solar cells, valves, fittings, and vents.
- The industry is struggling to achieve the maturity required to industrialize space technology.
- Core chemicals used in the industry are still being imported from Germany.
- There is a lack of strong regional players manufacturing these components.
- Indian companies are at a disadvantage compared to international competitors due to 40% import costs.
- Sourcing space-grade solar panels can take almost a year, causing delays in satellite assembly, testing, and launch schedules.
- Establishing lower tariff codes for space-grade imports or building a domestic ecosystem could help address this issue.
- Investments in infrastructure at the University-level to support labs with advanced photolithography and other equipment could help in building expertise.
- India will take at least another 20 years for the ecosystem to fully mature.
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Yourstory
1w
102
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SEBI cautions investors against unauthorised virtual trading, gaming platforms
- SEBI cautions investors against unauthorised virtual trading, gaming platforms
- SEBI advises investors to deal only through registered intermediaries
- Participating in unauthorised schemes is at investors' own risk
- Investors are advised to use valid dispute resolution mechanisms
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Yourstory
1w
110
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SEBI allows MFs to invest in overseas funds with exposure to Indian securities
- SEBI has allowed mutual funds (MFs) to invest in overseas mutual funds or unit trusts that invest a specific portion of their assets in Indian securities.
- The total exposure of such overseas funds to Indian securities should not exceed 25% of their net assets.
- This move aims to facilitate ease of investment, bring transparency, and enable diversification of overseas investments for MFs.
- The new framework is effective immediately and requires MF schemes to combine all investors' contributions into a single investment vehicle without side vehicles.
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Startupreporter
1w
131
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Rajkot Municipal Corporation Issues Rs 100 Crore Bond to Boost Infrastructure and Services
- Rajkot Municipal Corporation has issued a Rs 100 crore bond to boost infrastructure and services in the city.
- The bond issue was oversubscribed by 4.95 times, with an interest rate of 7.90% and a tenure of five years.
- The funds raised will be used to create water supply and sewerage infrastructure for newly merged areas of the city.
- The bond issuance aims to improve transparency, reporting, and governance in the Municipal Corporation.
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Startupreporter
1w
255
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Mohammad Noorul Haq- Founder of Sanali Group Redefining Construction Excellence in Hyderabad
- Sanali Group, under the leadership of Mohammed Noorul Haq, has emerged as a pioneering construction agency in Hyderabad.
- With successful completion of various real estate projects, Sanali Group is now a premier residential and commercial construction agency in India.
- The company focuses on providing end-to-end solutions, meeting diverse requirements, and emphasizing on reliability, quality, and integrity.
- Mohammed Noorul Haq, the founder of Sanali Group, has been recognized with prestigious awards and is dedicated to innovation and sustainable practices.
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Geek Wire
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187
Tech Moves: Qualtrics taps Microsoft vet as CFO; F5 names innovation chief
- Qualtrics appoints Microsoft and HubSpot veteran Rachita Sundar as CFO, based in its Seattle headquarters, after the firm reed to $15bn independent equity from SAP in January 2021.
- Seattle-based Kunal Anand of F5 has switched from CTI to chief innovation officer as he moves to lead the company's product organisation.
- Microsoft's ex chief marketing officer, Chris Capossela, has joined Lumen Technologies board of directors and will help the company expand AI strategies and networking infrastructure.
- Ex-executives from sustainable trucking company, First Mode, have launched Seattle venture Sol Zero, which supports companies creating and solving problems with systems thinking and human creativity.
- Melanie Roberts has become executive director of the Washington State Academy of Sciences after two decades of being a science policy advisor for the University of Washington.
- Seattle’s Valant hires former Opensignal CFO, Rick Katz, with over 25 years experience in finance and corporate development.
- Graham & Walker, the Seattle-based firm investing in women-founded tech companies in North America, welcomes entrepreneur Eric Ries to its board of advisers.
- Santa Monica-based Tala has appointed Michael Olson as COO, taking over global operations.
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Inc42
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416
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New Age Tech Stocks Tank In Line With Broader Market; Menhood Biggest Loser
- Investors turned bearish towards new age tech stocks today (November 4) in line with a broader market decline.
- Menhood emerged as the biggest loser, with its shares dropping 5.88%.
- Awfis was the top gainer of the day, with its shares going up 4.19%.
- The cumulative total market capitalization of the 28 new-age tech stocks stood at $74.79 Bn.
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SiliconCanals
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Lund-based Aligned Bio secures €1.6M funding to advance disease diagnostics through nano-wire technology
- Lund-based Aligned Bio has secured €1.6M funding through a new share issue.
- The funds will be used to develop and scale up its nanowire production technology.
- Aligned Bio has been accepted into the SmiLe incubator program.
- The company is developing nanowire-based technology for biosensors in disease diagnostics and genome sequencing.
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TechCrunch
1w
187
Image Credit: TechCrunch
ChatGPT Search is not OpenAI’s ‘Google killer’ yet
- OpenAI recently released its search product, ChatGPT Search, to compete against Google, but seems impractical for short queries.
- Queries shorter than four words, which represent the bulk of Google searches, do not work reliably with ChatGPT Search.
- It is unable to provide correct information on such queries and even hallucinates and makes up information at times.
- ChatGPT Search seems successful with answering long written-out research questions.
- Microsoft Bing is the search engine behind ChatGPT and is not comparable in quality to Google.
- ChatGPT depends on large language models (LLMs) which are not suitable for short prompts, as it needs fully written-out questions to provide effective answers.
- Perplexity's AI search tool is also facing similar issues with short queries.
- Until these products improve capability for short queries, they cannot replace Google Search.
- To replace the front door to the internet, OpenAI has to create a better one that can support all types of queries.
- ChatGPT Search and Perplexity are covering a different part of search and are valuable in their own way.
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Startus
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Image Credit: Startus
Challenge the Status Quo: Enter Abu Dhabi’s Open Data Spark Hackathon for a Shot at AED 170K
- The Abu Dhabi Open Data Spark Hackathon invites innovators to create solutions that address real-world challenges in urban living, tourism, and public services.
- Participants will gain access to a vast array of open data, exclusive mentorship sessions, and networking opportunities to deliver high-impact solutions to government and industry leaders.
- The top solutions will receive a total prize pool valued at AED 170,000.
- Participants will connect with industry leaders and potential partners, investors, and expand their professional network.
- Design an AI-powered search engine for Abu Dhabi platform for an easy way to sift through open data.
- Elevate Abu Dhabi’s tourism experience using open data from government and private sources.
- Create an AI-driven, real-time interactive map of parking spots across Abu Dhabi.
- For those with out-of-the-box ideas, the Open Challenge calls for any AI-driven solution using open data to improve city life.
- November 15th is the deadline to register for the Hackathon.
- November 27-29th are the Hackathon event days.
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