Start-Ups

The COVID-19 pandemic caused chaos on the supply chain ecosystem, wreaking havoc on micro, small, and medium-sized enterprises (MSMEs) and leaving them struggling to survive and build capital. Moglix, a Noida-based business-to-business (B2B) industrial goods ecommerce marketplace, saw the need for a financing platform at this time and launched Credlix. It is a digital supply chain financing platform that provides immediate collateral-free working capital solutions to the entire supply chain. “Unless MSMEs got paid, how would they produce goods to supply? Dwelling on this, we reached the point of realisation…

UpGrad, an edtech unicorn, is weighing non-linear growth options through acquisitions and plans to increase its focus on outcome and profitability this year. Mayank Kumar, co-founder and Managing Director, anticipates massive growth in the edtech sector, and his seven-year-old start-up will nearly quadruple its registered learners base to 7.5 million in the next two years. “In 2022, there will be a strong emphasis on the outcomes and profitability. We foresee accelerated university partnership expansions, tie-ups with global universities to offer diversified online programmes in regions including India, the Middle East,…

Square Yards, a proptech platform, has begun work on its initial public offering (IPO), through which the company may raise 1,000 crore or more, joining several other technology companies planning to list, according to two people aware of the development. Square Yards is a real estate and mortgage integrated platform that is expanding its business through international operations in the UAE, the rest of West Asia, Australia, and Canada. Its platform encompasses the entire real-estate journey, from search and discovery to transactions, home loans, interiors, rentals, property management, and after-sales…

Plix, a clean plant-based nutrition brand for daily wellness and strength, announced a $5 million Series A funding round led by Guild Capital and RPSG Capital Ventures. The funds will be used to launch products in the nutraceuticals segment that address critical health concerns. Over 85 SKUs are scheduled to be released in the next 12 months. In addition, the company is looking to hire new senior leadership talent, strengthen their R&D team, and enter new markets. The global wellness market is estimated to be worth $1.5 trillion, with India…

We Founder Circle led a $1.1 million seed round for gaming startup EsportsXO, which was followed by Wami Capital, SOSV, Mumbai Angels Network, SucSEED Indovation Fund, Eximius Ventures, and FAAD Network. Before raising the first investor round, the founding team of Vikas Goel, Utsav Umang, and Rohit Raj invested $200K. EsportsXO intends to invest the funds in tech and non-tech talent acquisition, as well as increase marketing and operational activities. EsportsXO, which launched in 2020, is a tournament discovery platform for gamers and gaming enthusiasts with the goal of creating…

Ola Electric Mobility Pvt., the Indian startup that has pledged to build the world’s largest electric scooter factory, distributed a handful of brightly coloured bikes earlier this month, complete with drummers and a saxophonist to commemorate the occasion. Founder Bhavish Aggarwal came to thank the 100 customers who brought family and friends. But, aside from the colourful proceedings, Ola isn’t living up to its lofty ambitions. According to people familiar with the company’s operations who asked not to be identified because the information isn’t public, mass production of its e-scooters…