The US International Development Finance Corporation (DFC) recently announced to invest $37.5 million (Rs 299 crorea) to support key sectors in India. The investment is expected to fuel the growth of businesses working in sectors like financial services, agriculture, healthcare, and climate. The company announced the investment in their current FY Quarter, as a form of political risk insurance product and financial instrument for various… read-more
Courtesy: First Post
Odisha CM Naveen Patnaik has launched the “Startup Odisha Yatra 2.0” initiative, aimed at promoting entrepreneurship among youth. This flagship initiative also aims at scouting grassroot innovators and women entrepreneurs. The Yatra is expected to cover around 100 educational institutions across 30 districts, in a period of 60 days. “The state has a mission of 5,000 startups by 2025,” said CM Patnaik.
Rapido Hopes To Generate $300 Million Income In Fiscal Year 2022-23, Seeks Collaboration With State Govts
Rapido, bike-taxi aggregator, is aiming for $300 million in revenue in fiscal year 2022-23. Rapido, founded in 2015 by Aravind Sanka, Pavan Guntupalli, and Rishikesh SR, operates in over 100 locations across India. It is now looking forward to collaborating with several state governments in order to assist metro commuters and provide additional services. Rapido presently has over 3 million bike-taxi riders and over 3 lakh drivers in auto… read-more
Courtesy: DNA INDIA
According to Varun Raheja, Founder of Raheja Solar Food Processing Pvt Ltd, the global market for dried fruits and vegetables is presently worth $70 billion. In 2019, the 25-year-old Indore entrepreneur founded his own firm. Solar drying technology is one example of how freely accessible energy may be used to assist farmers. The company is supplying farmers with low-cost, do-it-yourself foldable solar dryers to make value-added items from… read-more
Founder and CEO of Japanese investment firm Softbank, Masayoshi Son, cautioned unicorns and startups to brace themselves for a hard fundraising winter. Son stated that unicorn executives "still believe in their valuations and they wouldn't accept that they may have to see their valuations go lower than they think." The winter for publicly-traded firms is still… read-more
Courtesy: Free Press Journal
Basys.ai, Harvard-based health-tech startup founded in 2020 by Amber Nigam and Jie Sun, claims its in-house technology would aid enhance doctors' clinical decision-making in controlling their patients' metabolic health. To deploy its platform, the business has begun conversations with healthcare providers in India through Ayushman Bharat Digital Mission. Amber claims as… read-more
Muvin, teen-focussed pocket money, digital finance, and neo-banking apps have been in a rage, giving a new direction to the fintech sector in India. The startup by Vineet Gupta and Mukund Rao focuses on finances for teenage, instead of catering adult population. The company aims to make students financially savvy, teach them money management skills, and remove the complexities from “finance”. The company raised $3 million in pre-series… read-more
Kiko Live, a platform for retailers in India has announced to be onboarded on ONDC and plans to be available on the ONDC platform by September 2022. Kiko Live, a platform for small neighbourhood retailers to be available on the ONDC network, provides potential business growth to millions of small retailers across India to be visible across the platform and to sell digitally, empowering small shop sellers.
Courtesy: Press Trust of India
New-age firms have emerged all over the world to assist individuals (B2C) in calculating, tracking, and reducing their carbon footprint or emissions created during activities. The worldwide carbon footprint management market is expected to be worth $12.2 billion by 2025. Startups such as Climes, Lowsoot, and WOCE have created new products to assist businesses and individuals in becoming carbon neutral, a market poised for exponential… read-more
A Dutch company named "Fruileather" is working towards a biodegradable environment, making waste mangoes into vegan leather. Hugo de Boon and Koen Meerkerk, the co-founders of Fruitleather, started the company with the concept of vegan leather production, in 2015 and now is able to manufacture 80-square-meters of leather per month with waste mangoes from Netherlands… read-more
Courtesy: Textile Today