Page 59 - Start Ups
Medlife to cease operations, merge with PharmEasy this week
PharmEasy cofounder Dhaval Shah wrote on LinkedIn that the merged entity will be India's largest online healthcare delivery platform, serving over 2 million families every month.
 "Medlife to cease operations, merge with PharmEasy this week")
Chocolate maker Smoor to raise Rs 50 cr, open over 100 outlets in 5 years
Smoor will also be launching an experience centre in Bengaluru where visitors would be able to experience the craft of exquisite chocolate making.
 "Chocolate maker Smoor to raise Rs 50 cr, open over 100 outlets in 5 years")
Stride Ventures announces new fund, targets corpus of up to Rs 1,875 crore
Investment firm Stride Ventures on Tuesday announced a debt fund for Indian startups with corpus that can go up to Rs 1,875 crore
 "Stride Ventures announces new fund, targets corpus of up to Rs 1,875 crore")
Bhavin Turakhia-founded Zeta enters unicorn club with $1.4 bn valuation
Banking tech startup attains value after $250 mn funding from SoftBank
 "Bhavin Turakhia-founded Zeta enters unicorn club with $1.4 bn valuation")
IPV backs salon-focused SaaS startup Glamplus with Rs 2-crore funding
Other investors in pre-series A round are Bounce co-Founder Anil G, Sadhan Enterprise MD-CEO Sachin Khandelwal, Transin CEO Sravan Kumar, Byju's AVP Abhishek Daiya and Shadowfax VP Anudeep Nagalia
 "IPV backs salon-focused SaaS startup Glamplus with Rs 2-crore funding")
Softbank-backed Oyo seeks $600-million loan amid virus surge: Report
Funds sought by hotel startup to bolster balance sheet, service older loans
 "Softbank-backed Oyo seeks $600-million loan amid virus surge: Report")
Hyderabad based startup Skyroot Aerospace raises $11 mn Series A funding
Skyroot Aerospace on Thursday said it raised $11 million Series A funding from investors led by Greenko Group founders Anil Chalamalasetty and Mahesh Kolli
 "Hyderabad based startup Skyroot Aerospace raises $11 mn Series A funding")
Moglix raises $120 mn in funds, joins India's growing unicorn club
Industrial business-to-business company is the fourteenth Indian company this year to reach unicorn status
 "Moglix raises $120 mn in funds, joins India's growing unicorn club")
Startup Virohan raises $3 mn, says will train million paramedics by 2025
Company says it has trained over 5,500 people since the pandemic started last year.
 "Startup Virohan raises $3 mn, says will train million paramedics by 2025")
How meat startups are leveraging technology to bring best quality produce
The trucks that move produce from farms to slaughter houses and retail stores have IoT-enabled trackers that track the produce and periodically send temperature data
 "How meat startups are leveraging technology to bring best quality produce")
Myelin Foundry raises pre-series A funding of $1 million from Japanese VC
The new round will be used to consolidate Myelin's products in the India video streaming market, and to expand into international markets
 "Myelin Foundry raises pre-series A funding of $1 million from Japanese VC")
Fintech firm Groww enters Rs 32-trillion MF space with Indiabulls purchase
Groww said Sebi's recent change in sponsorship criteria for fintech companies has enabled it to enter into the asset management space
 "Fintech firm Groww enters Rs 32-trillion MF space with Indiabulls purchase")
Indian researchers develop AI that may help in the fight against Covid-19
Given limited testing facilities for Covid-19, there's a rush to develop AI tools for quick analysis using X-rays. Experts say it can be very useful in smaller towns where access to CT scans is poor
 "Indian researchers develop AI that may help in the fight against Covid-19")
Startups lean on remote-use devices to boost Covid-19 patient care at home
From monitoring vitals, to generating alerts on health crises, to keeping the family abreast at all times, these firms are doing their bit in the war against the pandemic
 "Startups lean on remote-use devices to boost Covid-19 patient care at home")
KFIN Tech buys 17% stake in Artivatic.ai, gets foot into insurtech space
Plans to raise it further; Artivatic.ai will use funding to broaden product portfolio, explore new business horizons and expand footprint in India and abroad
 "KFIN Tech buys 17% stake in Artivatic.ai, gets foot into insurtech space")
Jab shortage forces health startups to defer plans to vaccinate India Inc
Enterprises like 1mg, PharmEasy and Practo had drawn up initiatives to inoculate over a million employees from some of the country's top companies
 "Jab shortage forces health startups to defer plans to vaccinate India Inc")
BharatPe plans to disburse Rs 14,000 cr in business loans by March 2023
The fintech company, which is soon expected to become a unicorn, has raised Rs 50 crore in debt from Northern Arc Capital
 "BharatPe plans to disburse Rs 14,000 cr in business loans by March 2023")
Rubix Data Science raises Rs 6.2 crore from Cactus Venture, others
Proceeds will be invested in enhancing technology and analytics capabilities of the Rubix Automated Risk Management and Monitoring System (ARMS) platform
 "Rubix Data Science raises Rs 6.2 crore from Cactus Venture, others")
IIT Madras startup sets Guinness record for upskilling people in Python
They set the record for "most numbers of users to take a programming lesson in 24 hours"
 "IIT Madras startup sets Guinness record for upskilling people in Python")
Electrifying mobility: How entrepreneurs changed tack to survive pandemic
To survive the Covid-induced downturn, bike-sharing start-up Bounce changed its strategy and jumped on the EV bandwagon
 "Electrifying mobility: How entrepreneurs changed tack to survive pandemic")