Startups

Naidhroven, a 25-year-old Chennai resident, was rejected by companies due to his physical disabilities. He built an electric scooter to help other individuals with impairments. He received the biggest grant ever provided to any applicant, Rs 25 lakh, for his concept. His scooter has a very reasonable range of up to 120 kilometres. Buyers can select from a variety of battery capacities ranging from 60 kilometres to 200 kilometres. 

US-based Biliti Electrics announced to establish its unit in Hyderabad, Telangana, with an investment of $150 million, on April 19. Notably, spread across 200 acres of land, the unit in Hyderabad will provide 3,000 jobs to locals, and will produce 2,40,000 three-wheelers, in a year. Led by Biliti CEO Rahul Gayam, the unit will be operational in 2024. Currently, the company manufactures vehicles in partnership with Hyderabad-based GVM.

In the pre-series A funding, TraceX, an agritech startup company, raised $1 million, which is approximately Rs 7.5 crore. The pre-series A funding was led by Nabard-backed NABVENTURES fund. "The newly raised capital will be used towards scaling up operations across geographies in India," said TraceX in a statement. TraceX is led by a blockchain-powered traceability platform that enhances supply chain and maximises long-term value for… read-more

BharatPe fired Madhuri Jain, the controller of the company and wife of Ashneer Grover (Co-founder of BharatPe). On February 23, Jain was sacked in allegations of financial irregularities. Notably, on February 22, the company tendered a termination letter to Jain with immediate effect. Madhuri Jain was incharge of finances at the $2.28 billion value company, since 2018. Meanwhile, final report over the matter is yet to be tabled before board… read-more

The All India Institute of Ayurveda (AIIA) joined hands with Startup India to launch the 'Ayush Start-up challenge' to boost early-stage start-ups and individuals contributing to the field of Ayurveda, as per reports. In addition, there are three entry categories for participating start-ups – Ayush Food Innovations, Ayush Bio-instrumentation, and Ayush IT Solutions. Notably, the winners of the challenge will receive both a cash prize and … read-more