Chennai Resident Launches E-Scooter Manufacturing Company After Facing Rejection For Physical Disability
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.
Courtesy: Zee News
Mumbai's Good Flippin' Burgers brand attracted a round of funding worth $1 Million, on April 22. The seed funding for the burger company was from Kerala Blasters Football Club, IIFL Wealth & Asset Management, Wealth Management business, at IIFL Wealth & Asset Management. Other who participated in the funding round were Index Trader, Deen Dayal Investments, and people from the entertainment industry, taking the net worth to $1.1… read-more
Courtesy: Press Trust Of India
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.
Courtesy: Frontline Hindu
Out of 1000 start-ups that applied, from over 150 cities in India, 16 have been selected as finalists for Amazon's second season of Global Selling Propel Accelerator (AGSP), on April 14. The idea of the aforesaid initiative by Amazon India, is to provide a much needed support to emerging start-ups in India. The shortlisted companies will reportedly stand a chance to win $100,000 total equity free grant from Amazon.
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
Courtesy: Live Mint
The early-stage investment firm Upekkha Value SaaS Accelerator has garnered $9 million from WestBridge Capital, to invest in around 50-60 startups. In addition, the firm will initiate the first alternative investment fund (AIF) in India. “This year UP Funds will invest in 60 startups across three cohorts of the Upekkha accelerator program,” stated co-founder of Upekkha. Notably, Upekkha, in the span of four years, has accelerated about 72… read-more
Courtesy: The Economic Times
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
Courtesy: Economic Times
Utsav Somani launched a new fund, termed ‘Galaxy’ that hands over selected founders a $1Mn fund, to further invest in potential early-stage startups. In addition, the initiative worth $45 million is backed by the Silicon Valley investors Naval Ravikant and Tim Ferris. ''With Galaxy, founders can also provide capital to get early-stage companies off the ground,” stated Utsav. Notably, Galaxy was launched by fintech veterans Amrish Rau and… read-more
Courtesy: The Economic Times
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
Courtesy: Financial Express
Big Basket, a Tata enterprise has acquired Kochi-based startup Agrima Infotech's with the aim of revolutionizing the offline retail in the country. Reportedly, the Agrima Infotech has developed 'Psyight' which helps identify fruits and vegetables from their image without using barcodes. However, the acquisition was announced by Big Basket CEO Hari Menon at a two-day virtual ‘Huddle Global 2022, organised by the Kerala Startup Mission.… read-more