Latest Startup News, Funding News, Tech News, Insights & Stories from Indian Startup Ecosystem
Summary ProcMart, a leading B2B digital marketplace specializing in supply chain solutions, has successfully raised $30 million in a Series B funding round led by Fundamentum Partnership and Edelweiss Discovery Fund, with participation from Paramark Ventures. Founded in 2015, ProcMart aims to streamline indirect purchases for large enterprises through its tech platform, offering services such…
Summary PineGap.ai, an AI SaaS startup founded by graduates of IIT-BHU, has successfully raised $2.5 million in seed funding led by SVQuad and Inventus Capital. The funding aims to enhance the company’s equity research platform and facilitate expansion of its engineering team in Bengaluru and the US. Prominent Silicon Valley entrepreneurs and executives from Wall…
Summary Ola Mobility, led by Bhavish Aggarwal, is venturing into ecommerce by integrating groceries, fashion, and apparel options into its app through collaboration with the Open Network for Digital Commerce (ONDC). The move aims to tap into ONDC’s vast network of retailers. Ola’s expansion into ecommerce follows its initial partnership with ONDC for a food…
Summary: Byju’s, a leading edtech firm, has undergone a significant leadership transition, with founder Byju Raveendran taking over the day-to-day operations following the resignation of CEO Arjun Mohan. The company has streamlined its operations into three divisions to enhance agility and market responsiveness. Arjun Mohan will transition into an advisory role. The restructuring signifies the…
Summary: PlatinumRx’s successful funding round not only signifies a milestone for the startup but also heralds a new era of affordability and convenience in medication procurement, promising transformative benefits for patients across the nation. In a significant stride for the healthcare sector, Bangalore-based online pharmacy startup PlatinumRx has successfully raised $800,000 in seed funding. Led…
Summary: As Tesla’s collaboration with Tata Electronics unfolds against the backdrop of India’s burgeoning EV landscape, the alliance holds the potential to drive significant advancements in the country’s automotive sector while amplifying Tesla’s global presence. In a strategic move aimed at bolstering its global operations, Tesla has inked a significant agreement with Tata Electronics to…
Summary: Despite a 40% dip in funding compared to the preceding week, the startup landscape retains its vibrancy, with noteworthy developments such as the inception of new funds and strategic acquisitions shaping the industry’s trajectory. As startups continue to navigate challenges and seize opportunities, the Indian entrepreneurial landscape evolves, driven by innovation, resilience, and a…
Meta, the parent company of popular social media platforms like Facebook, Instagram, and WhatsApp, is trialing its advanced AI chatbot, Meta AI, across these apps in India and parts of Africa. This move marks Meta’s effort to leverage its vast user base to expand its AI services. Reaching Masses with AI With over 500 million…
Simactricals, a startup incubated at the Startup Incubation and Innovation Centre (SIIC), IIT Kanpur, is making waves in the electric vehicle (EV) industry with its groundbreaking wireless charging technology. Founded in October 2020 by Mihir Mishra and Balaji Sriram, Simactricals has recently announced the successful raising of INR 75 lakh through the SanchiConnect pre-seed cohort…
Reliance Retail’s Tira Beauty has set a new benchmark in the beauty industry with the launch of its latest venture, Tira Tools. On April 11th, Tira Beauty unveiled Tira Tools, a premium line of carefully curated beauty accessories aimed at elevating the beauty routines of professionals and enthusiasts alike. Tira Tools boasts a meticulously selected…