Info Edge-backed Edtech startup Udayy shuts down its operations

Gurgaon-based Udayy, an edtech startup focused on students from kindergarten to eighth grade, has decided to shut down its operations as it was unable to maintain sustainable growth in the hyper-competitive edtech market. Following this decision, the edtech startup has laid off its entire workforce. Saumya Yadav, one of the co-founders of Udayy, explains that the platform did not see a viable path toward business profitability with the lifting of COVID-19 norms. The increased number of children returning to school led to requests for refunds and difficulty in acquiring new customers…

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Highlights of India First Tech startup conclave & awards 2022 : Bengaluru chapter

The Indian startup ecosystem is entering a new era. The unicorn population has increased by leaps and bounds in the last year, driving our country to third position in the globe. The All India Council for robotics and automation is exploring the spread and depth of our startup ecosystem by organizing the Bengaluru chapter of the INDIA FIRST Tech startup conclave & awards this June. The conclave is a 2-day event that is being conducted on the 8th & 9th of June 2022. The event’s goal is to provide an…

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Arya.ag acquires agriculture data science startup Prakshep

Arya.ag, a grain commerce platform located in Noida, has acquired agriculture data science firm Prakshep for an unknown sum. Arya strengthens its position as India’s largest integrated grain commerce platform and expands its technological capabilities to provide end-to-end solutions to its users with this acquisition. Arya.ag secured $60 million in Series C financing from Asia Impact SA and returning investors Lightrock India and Quona Capital in January of this year. The purchase, according to the business, would assist to boost Arya’s aim of providing cutting-edge AI/ML capabilities to farm digitalization,…

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Ruraltech startup Hesa raises $2.3M in a pre-Series A round led by Venture Catalysts

Hesa, a rural tech startup located in Telangana, has secured $2.3 million (Rs 17.8 crore) in a pre-Series A fundraising round headed by Venture Catalysts, with participation from Venture Catalysts US Chapter, Faad, Inflection Point Ventures, WFC, and other significant angel investors. The firm, founded in 2019 by Vamsi Udayagiri and Hema Nandiraju, will utilize the funds received to grow its geographical reach, develop its technological platform, and extend its capabilities in agri-fintech and commerce. Hesa allows for many API interfaces to deliver online, round-the-clock services in major sectors such…

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Binance Labs closes $500 million investment fund to boost blockchain, Web3 adoption

Binance Labs, the venture capital and incubation arm of global cryptocurrency exchange Binance, has announced the establishment of a new $500 million investment fund. The new fund will invest in ideas that will broaden the applications of cryptocurrencies and boost the adoption of Web3 and blockchain technologies. As a limited partner, it is supported by worldwide institutional investors such as DST Global Partners and Breyer Capital and other prominent private equity firms, family offices, and corporations. Changpeng Zhao ‘CZ’, Founder and CEO of Binance, said: “In a Web3 environment, the…

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SaaS firm Kovai.co charts product-led growth strategy for unicorn status

Kovai.co is aiming for unicorn status as the Software as a Service (SaaS) company pursues a product-led growth strategy, according to founder and CEO Saravana Kumar. With a leaner product portfolio, Kumar said the business is working on a customer success product — one of the fastest-growing product sectors in SaaS — that will be released this year. “We see huge potential for this product. On its own, it can reach $50 million annual revenue,” he said. He estimated Kovai.co to reach unicorn status, or privately held company with a…

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Sourav Ganguly joins hands with Noida-based edtech startup Classplus

After a cryptic tweet, BCCI President Sourav Ganguly on Thursday announced a partnership with Noida-based edtech startup Classplus to promote thousands of instructors and content creators. After 30 years in Indian cricket, Ganguly resorted to social media to promote this endeavour. “The first step towards achieving your dreams is having the right coach.” Ganguly says in the 30-second short. Classplus claims to have digitised over a lakh educators and content creators in over 3,000 cities, servicing 30 million students and aiding them in growing their online profile and selling their online…

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Agritech startup Nutrifresh raises $5 million in funding from investors

Nutrifresh, an agritech startup, announced on Tuesday that it has raised $5 million (Rs 38.8 crore) in funding for expansion and growth. Hydroponically grown, residue-free, and chemical-free vegetables are the company’s objective. Theodore Cleary, Archer Investments; Sandiip Bhammer, Managing Partner – Green Frontier Capital; Sky Kurtz, CEO & co-founder of Pure Harvest UAE; Mathew Cyriac, Florintree Advisors & ex-managing director of Blackstone India; Soumitra Dutta, Dean Elect – Sad Business School, University of Oxford; Shaishav Dharia, Regional chief executive officer, CEO Lodha Group; Karan Gos. “The funding will be used…

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New way to ride the tech boom

Naples Global LLC, a hedge fund based in the United States, has partnered with LegalPay, an Indian third-party lawsuit funding startup, to create a fund to assist local entrepreneurs involved in disputes with their investors, including private equity firms. They’ve agreed to form a special purpose vehicle (SPV) to assist cash-strapped founders in resolving issues with their investors through litigation, arbitration, and other means. “Since most founders are first-generation entrepreneurs, they lack the financial muscle to assert their legal rights,” said LegalPay CEO Kundan Shahi. “The idea behind this product is…

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SaaS startup Everstage raises $13M in a Series A round

Everstage, a software-as-a-service (SaaS) company based in Chennai and Delaware that offers a modern sales commission management platform, has raised $13 million in a Series A round headed by Elevation Capital and current investor 3one4 Capital. Everstage is a sales commission management platform that automates sales commission processes in companies to drive the performance of their customer executives. It was founded in 2020 by Siva Rajamani and Vivek Suriyamoorthy. Everstage will use this amount of funding to extend its client services globally by growing its sales, engineering, and solutions teams….

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