Start-Ups

Traya, a holistic hair care platform, has raised $2.2 million (Rs 16 crore) in a new funding round with the goal of changing the hair care industry by providing a holistic solution to manage hair loss. The new pre-Series A round was led by Fireside Ventures and existing investors Kae Capital and Whiteboard Capital. Traya claims that the funds raised will aid the company’s research and development (R&D), acquisition of talent, development of cutting-edge technology to personalise the hair growth experience, and expansion of brand presence. Kannan Sitaram, Partner at…

Startups create new markets or completely transform old markets by introducing products that can change the world. Giants of today such as Apple, Facebook, and Google were once small but ambitious startups. New technologies often create new opportunities that startups take advantage of. Startups then create a massive value over mature businesses, inspiring competition and disrupting the economy to evolve. When it comes to startups, a general perception is that it needs to be in a developed country where all the resources are available. In reality, startups can begin functioning…

Hero MotoCorp Ltd. is investing Rs 420 crore in Ather Energy, an electric scooter maker, at a time when India’s largest two-wheeler manufacturer is preparing its own product for the domestic EV market. According to a regulatory filing Friday, the company’s board of directors has approved the investment in one or more tranches. Hero MotoCorp owned 34.8 percent of the Bengaluru-based startup prior to the proposed investment. “Following the investment, the shareholding will increase, and the exact shareholding will be determined when Ather completes the capital raise round.” This is…

Groww, an online investment platform, is expanding its offerings to include lending. According to its mobile app, the Bengaluru-based company has begun offering credit lines to select users based on their transaction history. This follows a massive fundraise in October, which valued the company at $3 billion. Groww’s decision is a significant step toward increasing revenue, which has been low thus far. While the company has yet to release its fiscal year 21 annual report, Groww’s lending feature is similar to CRED’s Stash, which also provides consumers with an instant…

Prime Minister Narendra Modi will use video conferencing to meet with more than 150 startups from various sectors, including agriculture and health on saturday. This interaction will include startups from a variety of industries, including enterprise systems, space, industry 4.0, security, fintech, and the environment, in addition to agriculture and health, according to the PMO on Friday. According to a press release, more than 150 startups have been divided into six working groups based on themes such as “growing from roots,” “nudge the DNA,” “from local to global,” “future technology,”…

Nodwin Gaming Pvt. Ltd., a subsidiary of Nazara Technologies Ltd., India’s first publicly traded gaming company, has acquired direct-to-consumer retailer Planet Superheroes to expand its merchandise offering. While Nodwin Gaming did not disclose the financial terms of the transaction, Nazara Technologies stated in a regulatory filing that it was worth Rs 4.9 crore. “The board of directors of Nodwin Gaming has approved the acquisition of 27,987 equity shares of Rs 10 each of Superhero Brands Pvt. Ltd. from existing shareholders, in one or more tranches, aggregating to 100% equity stake…

Turnip, a mobile-focused gaming community platform, has raised $12.5 million (Rs 92 crore) in a new Series A funding round to expand its presence across geographies, hire talent, and develop new products. Greenoaks and Elevation Capital, both based in the United States, led the new round. Other investors included SEA Capital, Vibe Capital, and leading founders such as Andrew Chen (Partner, a16z), Harshil Mathur and Shashank Kumar (Razorpay), Akshay Kothari (Notion), Geige Vandentop (Streamyard), Vidit Aatrey and Sanjeev Barnwal (Meesho), Gaurav Munjal and Roman Saini (Unacademy), Lalit Keshre, Ishan Bansal…

Start-up based in Delhi ElectiVa has been won the contract to install and operate 100 electric vehicle charging stations throughout the state. According to the company, the contract, which was awarded by local urban bodies, targets key locations in the city such as Green Park, Hauz Khas, Saket, defence colony, South Ex, Lajpat Nagar, RK Puram, and Vasant Vihar, among other commercial areas. Sumit Dhanuka, the company’s founder, stated that he intends to install over 50,000 electric vehicle charging stations across the country over the next four years. India currently…

Thrasio, the US company that pioneered the model of acquiring and scaling up private brands on Amazon.com, plans to invest $500 million in India because it sees the country as a significant market in the long term. According to Carlos Cashman, CEO of Thrasio Thrasio has made its first acquisition in India, acquiring a majority stake in Lifelong, a consumer durables brand. Even though the terms of the transaction were not disclosed, Thrasio is said to have paid $150-200 million for the stake. Lifelong, which is backed by Tanglin Venture…

ORAI, a conversational AI platform, announced today that it has raised Rs 6.5 crore in a pre-Series A funding round led by Gurugram-based angel investment firm Inflection Point Ventures. IPV has invested Rs 326 crore in 107 transactions so far. ORAI claims to provide 100% automation powered by artificial intelligence (AI) with all advanced features in a single bot that handles all customer support, customer outreach, customer engagement, marketing, sales support, and post-sales services. The startup recently launched a WhatsApp commerce feature that uses artificial intelligence to automate business conversations…