Start-Ups

Geniemode, a global B2B cross-border e-commerce company, has raised $7 million (approximately Rs 52 crore) in funding led by Info Edge Ventures. This new funding comes just four months after the company received a $2.25 million seed round. According to the company, the new capital will be used to scale the company’s tech platform, expand geographically, increase its design capability, and expand the platform’s buyer and vendor base. The company is a rapidly expanding B2B e-commerce startup, with buyers in the United States, Latin America, the United Kingdom, the European…

Anurag Jain, Secretary of the Department for Promotion of Industry and Internal Trade (DPIIT), stated on January 6 that government-registered startups have created up to 6.5 lakh jobs in the country. Since 2016, when the flagship digital initiative was launched, the DPIIT has recognised over 60,000 startups, making India the world’s third-largest startup ecosystem. “The figure comes to 11 jobs per startup. The startup revolution is transforming our country from a nation of job seekers to job givers,” said Jain. The government had earlier based the number of jobs created…

India Quotient, along with the founders of social network ShareChat and online fashion brand FabAlley, has invested in hair care startup Zemé Fresh, which was founded by Prerna Bhutani, a former partner of the venture capital firm. Zemé (pronounced zay-may) sells shampoos and conditioners that are “made from herbs and fresh kitchen ingredients – not extracts – without any artificial chemicals or preservatives,” according to the company’s website. The company’s products must be refrigerated, just like fresh produce. Bhutani did not reveal the amount raised, but stated that the funds…

Reliance Digital Health has invested in the onology-focused managed healthcare platform Karkinos Healthcare for an undisclosed amount, according to a statement released by company Other major angel investors in the start-up, which is backed by Ratan Tata personally and the Tata Group, include Venu Srinivasan, Kris Gopalakrishnan, Ronnie Screwvala, Vijay Shekar Sharma, and Bhavish Agarwal. Rakuten Medical, a global clinical stage biotechnology firm based in San Diego, California, also has a minority stake in it. The Tata Group recently invested Rs 110 crore in this technology-driven oncology-focused managed healthcare platform,…

Groyyo, a B2B manufacturing startup, announced on Monday that it has raised $4.6 million in a seed round led by Alpha Wave Incubation (AWI). Groyyo, which was founded in July 2021, has been working with MSMEs throughout South Asia. Within six months of its inception, the company claimed to have empowered more than 200 manufacturers across South Asia by maximising their potential. The latest funding, it added, will help it build teams across key manufacturing clusters in South Asia, as well as expand its presence in the United States and…

Reliance Industries Ltd’s retail arm has acquired a 25.8 percent stake in Google-backed hyperlocal delivery startup Dunzo, extending billionaire Mukesh Ambani’s presence in the fast-growing grocery delivery market. Reliance Retail has made a $200 million investment in Dunzo as part of a $240 million funding round in the Bengaluru-based company. Existing investors Lightbox, Lightrock, 3L Capital, and Alteria Capital joined the round as well. In a statement issued on Thursday, Dunzo stated that it intends to use the new capital to accelerate instant delivery of essentials from a network of…

SecureNow, an end-to-end insurtech platform that currently serves 25,000 small businesses across 150 locations, has raised a total of US$ 6 million in its most recent funding round, which was led by Apis Insurtech Fund I – managed by Apis Partners LLP – and Charan Singh – founder of SelectQuote Inc. According to a press release, the company plans to expand its coverage to over a million businesses over the next three years, which is also when it expects to reach profitability. Both Apis Partners and Charan have extensive experience…

Fractal, a provider of artificial intelligence and analytics solutions, has raised $360 million in a new round led by TPG Capital Asia, which includes a combination of primary investment and secondary share purchase from Apax Partners-advised funds. The transaction, according to the company, is expected to close by the first quarter of 2022, and the investment will accelerate its ability to scale and meet rising demand globally. While Fractal has not disclosed its valuation after the current round, sources familiar with the project estimate it to be well over $1…

At a time when many Bollywood and sports stars are preparing to launch their digital collectibles, or non-fungible tokens (NFTs), actor-investor Rana Daggubati and Anthill Ventures founder Prasad Vanga have backed Indian-American entrepreneur Abinav Varma Kalidindi’s Indian metaverse company, Ikonz. Ikonz, which will be launched in August 2021, is a wealth-building platform that will assist IP owners, artists, and other established icons in managing their digital assets. Ikonz, according to Kalidindi, will serve as a 360-degree platform for IP owners, assisting them in navigating the complexities of technology and understanding…

AI based startup Alhonomy plans to acquire Linear Squared Algonomy, a software company specialising in artificial intelligence and algorithmic decisioning, intends to acquire Linear Squared, a Sri Lankan cloud-based technology company specialised in demand planning and forecasting products. Linear Squared develops software-as-a-service solutions for consumer packaged goods, retail, financial services, telecommunications, and other industries using AI and machine learning. For Algonomy, which has Walmart Canada, Comcst, Flipkart and Pizza Hut among its clients, Linear Squared’s demand-forecast platform “sits right in the middle” of its technology products, the Bengaluru-based company’s founder,…