Page 10 - Startup

Beauty startup Pilgrim raises $20 million in Series B funding round

Pilgrim, a startup operating in the field of beauty and personal care, on Tuesday said it has raised USD 20 million (around Rs 166.6 crore) in a funding round. This Series B round was led by Vertex Ventures Southeast Asia and India along with existing investors Fireside Ventures & Narotam Sekhsaria Family Office, a joint statement said. The company currently has an annual run rate of Rs 300 crore and aims to scale it to Rs 1,000 crore by 2025 on the back of its commitment to robust R&D and consumer-centricity. Pilgrim, which is serving over five lakh consumers monthly, will deploy this funding to increase brand building, and R&D, and bolster offline expansion within India, it added. "Pilgrim has been steadfast in crafting efficacious solutions tailored to individual consumer needs and co-creating products alongside our customers. This approach has empowered us to introduce groundbreaking innovations, reshaping the landscape of India's beauty and personal care market," its .

SKUAST launches agricultural-entrepreneurship startup training programme

The Sher-e-Kashmir University of Agricultural Sciences and Technology (SKUAST) on Monday launched a skill training programme for creating the next generation of agri-entrepreneurs in Jammu and Kashmir. The Ministry of Micro, Small and Medium Enterprises (MSME) has granted 550 skill training programmes to SKUAST for implementation in the current year, officials said. "We have to take our farming community from subsistence agriculture to sustainable commercial agriculture. We have to strive to achieve the goal set by the JK government to double the agricultural GDP in the next five years," Vice chancellor of the SKAUST Nazir Ahmad Ganaie told reporters. Last year the university implemented 66 skilling programmes. He said it is important that the country shifts toward startup culture as India is emerging as a big startup ecosystem in the world. "The universities have a very important role to play in bringing Jammu and Kashmir on the startup ecosystem map of the country," he added. S

China's artificial intelligence 'war of hundred models' heads for shakeout

China now has at least 130 large language models (LLMs), accounting for 40 per cent of the global total

Visa application startup Atlys raises $12 million in series A funding

Investment round led by Peak XV and Elevation Capital

Competition Commission of India appoints three new members: Reports

The new members appointed are Anil Agrawal, a former police official who recently worked at India's commerce ministry and worked on various startup initiatives

Qube Health raises Rs 25 cr in pre-series-A round at Rs 200 cr valuation

Healthcare payments startup Qube Health has raised Rs 25 crore in a pre-series-A round from its existing investors Inflection Point Ventures and Green Ivy Ventures, and a few family office investors, at a valuation of Rs 200 crore. Qube offers a payment system and healthcare credit line to employees of corporates that sign up. Its offer comes as a complement to the group health insurance policy provided by employers and also helps a person from out-of-pocket medical bills or those not fully covered by the health coverage, to paying non-cashless bill payments. Its customers can borrow and pay from a pre-assigned credit limit within one year with no interest or fees. While the credit line is free for employees, it charges a subscription fee from employers on behalf of the employee. The AI-driven healthtech platform has already aggregated over 11,000 hospitals and clinics, and partners with insuretechs, insurance companies, insurance brokers, e-pharmacy chains and others within the ...

Space technology startups want Centre to share insurance liability

Isro's risk liability on launches have been taken up by the government through a sovereign guarantee

Defence startup's nano drones shows potential in counter-terror operations

A defence startup founded two years ago by a team of young engineers from IIT Roorkee has developed three variants of nano drones, including a 'Kamikaze' UAV, which have application in anti-insurgency and counter-terrorism operations. Mayank Pratap Singh, the co-founder of the startup IDR, said, "This is the first time that nano drones have been developed indigenously in this country." "In just two years since the formation of our startup in 2021, we have developed three variants of nano drones that are actively aiding security forces in their efforts against insurgency and terrorism," Singh told PTI here. He said IDR Research and Development has introduced the Doot Mk1 nano drone in three specialised variants, which were showcased at the North-tech symposium. The symposium was held here recently to address operational challenges and procure state-of-the-art equipment for the Army. Weighing approximately 200 grams, these drones boast an endurance of up to 30 minutes and can reach a

New start-up policy for Jammu & Kashmir to be notified by next month: LG

Jammu and Kashmir government would notify a new start-up policy by the next month to provide a roadmap for nurturing innovation, creating jobs and driving economic growth, Lieutenant Governor Manoj Sinha said on Saturday. Addressing the valedictory session of J&K Start-Up Conclave 2023 in Srinagar, the Lt Governor announced that the UT administration has drafted a new Start-Up Policy 2023 for Jammu and Kashmir which will be notified by the next month. The new policy will provide a roadmap for nurturing innovation, creating jobs and driving economic growth. It will ensure market access, suitable infrastructure and all the assistance and help to entrepreneurs in their journey, he added. J&K Start-Up Policy will also facilitate the growth of many cutting-edge sectors for Jammu and Kashmir which are still untapped. For the Seed Funding, one-time assistance up to Rs 20 lakh in four equal installments will be provided to start-ups recognized by J&K Government, the Lt Governor ...

Health services firm CureBay plans expansion in rural Odisha, Chhattisgarh

Startup has raised Rs 61 crore in financing from Elevar Equity, Incred and angel investors

Alibaba's Wu lays out strategic priorities for staff- user first, AI driven

This would help maintain a "start-up mindset" and prevent the company getting "stuck in our old ways", he said

Razorpay acquires digital invoicing, customer engagement startup BillMe

With this acquisition, Razorpay will get access to BillMe's client base of over 4,000 merchants

Startup20 to build momentum for entrepreneurship: Saudi Arabia Prince

India and the United Arab Emirates (UAE) have taken a step towards enhancing their bilateral ties by signing a memorandum of understanding (MoU) known as the "Startup20 Bridge"

Quick commerce unicorn Zepto makes Ankit Agarwal chief product officer

Senior executive will be in charge of company's supply chain and consumer management in new role

Kerala-based startup launches AI-based learning platform for all ages

A city-based start-up, Hello AI, registered with the KSUM has launched an artificial intelligence (AI)-based self-learning platform that offers a comprehensive and personalised learning experience for people of all age groups. The platform, HelloAI-HAILabs.ai, aims to empower students with essential AI and data literacy skills, besides equipping them with the essentials of self-learning through adaptive learning, personalised tutoring using AI tutor, and context-aware content generation, the Kerala Startup Mission (KSUM) said in a statement. "This will empower children for an AI-driven future with personalised AI literacy and fostering critical thinking," it said. HAILabs.ai will provide free access to Level 1 through a freemium model, with premium options enhancing the learning journey, the statement said. The platform also offers personalized learning experiences focusing on each student's needs by ensuring effective knowledge acquisition and skill development, KSUM said. Prasad

Dunzo delays employee salaries yet again, sets October as new deadline

Dunzo, a quick commerce startup backed by Reliance and Google, had earlier told its employees that their June and July salaries would be paid in September

Interest in generative AI ventures high: Fireflies AI CEO Krish Ramineni

AI meeting assistant Fireflies.ai founder Co-founder and CEO Krish Ramineni said the company is building on top of its transcription offering with generative technology and may consider raising funds early next year to support expansion plans. Ramineni, during his India visit spoke to PTI about the rapid growth in AI and startups in India and the Silicon Valley. He said at present there is a lot of interest and appetite for generative AI startups. Fireflies.ai helps your to transcribe, summarize, search, and analyze voice conversations. On its fundraising plans, Ramineni said, "We have potential plans to look into it at the start of next year. There's definitely a lot of interest and appetite for generative AI startups right now, but we're operating well and we're pretty capital efficient, so we have plenty of runway," he added. Launched just before the pandemic in January 2020, the San Francisco-based company has raised USD 19 million until now. Fireflies.ai operates in 20 nations

Karnataka Research Foundation to be set up for R-D in startups: Minister

Karnataka Minister N S Boseraju on Saturday said a state-level research foundation will be formed to conduct research and development in startups and industries. Speaking at the valedictory session of the Indian StartUp Festival-2023 at Sathya Sai Village here, Boseraju said it is imperative for constant research and development in the field of science and technology that is fundamental to the startup ecosystem. "Our government is taking all necessary steps to create an enabling atmosphere including scientific temperament in the process of learning. We have also focused on protecting ecology and environment as well as ensure a robust economy," said the minister, who holds the Science and Technology and Minor Irrigation departments. Stating that Bengaluru is rightly described as the startup capital of the country, Boseraju said the government has created an enabling atmosphere in terms of infrastructure because of which a number of startup industries are coming up in a big way. "In

Indian startups give salary hike of 8-12% in FY23, favour ESOPs: Study

Stock offer key component in increments for senior leadership roles, it says

Nandan Nilekani pitches ONDC to start-ups to democratise e-commerce

VC firm Antler has collaborated with Nilekani, FIDE and ONDC and launched the country's first ONDC-focused venture platform to help entrepreneurs create businesses and succeed on the open protocol