Page 34 - Start Ups

Food delivery aggregator Swiggy launches invite only membership, One BLCK

Available by invitation only, Swiggy One BLCK is offered at a launch price of Rs 299 for a three-month plan

As startups expand spacetech innovations for data, funds remain a concern

Spacetech startups are leveraging small satellites, cost-effective launch solutions, and the use of AI to introduce affordable technology that has a wide range of applications

Startup reimagines bank lockers with high-tech vaults in gated communities

Aurm, a Bengaluru-based firm brings technology equipped lockers to gated societies, offering 24/7 access, military-grade security, and even insurance coverage

Mintifi raises $180 mn in Series E from TVG, Prosus, and Premji Invest

The company works with over 300 brands in India, including Asian Paints, Varun Beverages, Parle Products, Honda, and Shree Cement, among others

Startup contribution to economy projected to reach $1 trillion by 2030

India's startup ecosystem, valued at over $349 billion, ranks third globally in unicorn count as of May 2024

Lenskart plans to build largest eyewear manufacturing facility in Telangana

The Gurugram-based eyewear firm has signed a memorandum of understanding (MoU) with the Telangana government to establish the facility at Fab City

Rekha Jhunjhunwala-backed IKS Health sets IPO price band at Rs 1,265-1,329

With the IPO, the company aims to provide an opportunity for investors to participate in one of the fastest-growing niches in the US healthcare sector

Uttar Pradesh: Over half of state's registered startups led by women

Moreover, UP has planned to develop India's first artificial intelligence city in Lucknow, and set up an exclusive fund for the emerging technology to boost the AI ecosystem and foster AI startups

Fintech major PhonePe eyes replicating UPI success via diversification

At present, the overall user base of PhonePe is over 500 million. Of these, its merchant base is over 40 million

Flush with funds, qcom firms Swiggy, Zepto, Blinkit focus on expansion

While announcing its September quarter results, management at Swiggy said its growth strategy for Instamart is based on hyperlocal expansion

Govt invites Israeli startups for collaboration in quantum, space sector

Singh invited Israeli startups, known for their pioneering work in quantum computing, to partner with Indian institutions to co-develop critical quantum technologies

Co-working space provider Urban Vault plans IPO in the next 3 years

The company expects to reach the Rs 150-crore revenue mark by FY25, growing at 80-85 per cent year-on-year

After a prolonged winter, Indian edtech sector shows signs of recovery

Funding in the sector has increased by 153 per cent year-on-year (Y-o-Y), reaching $608.8 million across 68 deals in 2024 so far

Global investment group Prosus eyes five India listings in 12-18 months

While Prosus said that the exact timeline for the IPO announcements will come from the firms themselves, it also identified another five investee companies on its "future potential" IPO list

Razorpay partners MHA and I4C to boost digital payments security

This collaboration aims to empower businesses and end customers with critical knowledge to protect themselves while promoting widespread awareness about cybersecurity across India

RBI lifts supervisory restrictions on Sachin Bansal-led Navi Finserv

Following the imposition of restrictions on Navi, the lender cancelled a scheduled fund raising activity of Rs 100 crore. Rating agency CRISIL had also put Navi's ratings on "rating watch"

Zepto CEO sees clear path to IPO in 2025 with profitability in focus

Palicha further said that instant 10-minute delivery models like that of Zepto have generated lakhs of jobs, been wage-additive, and created all-around "value" for both consumers and workers

ShopDeck raises $8 mn to support sellers across Tier-II, -III cities

This capital will drive ShopDeck's mission to empower small and mid-sized businesses, many of which are emerging brands exploring D2C for first time, to achieve profitability and scale

Q-com enablement firms pick up speed as D2C brands eye faster deliveries

As D2C brands embrace quick commerce for faster deliveries, logistics firms are scaling up operations and securing funding to meet rising demand in a rapidly growing market

ePlane to trial drone surveillance with Railways, flying taxis by 2026

The ePlane Company is targeting commercial cargo operations in 2025 and passenger flying taxis by 2026