Trending Startup’s News – 10 Aug 2023

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India to launch BRICS Startup Forum to boost startups, investors, incubators: Goyal

India will launch a BRICS Startup Forum to boost collaboration among startups, investors, and incubators in the BRICS countries. The forum will be launched at the upcoming BRICS summit in China. The forum will be co-hosted by India and China. It will bring together startups, investors, and incubators from the BRICS countries to share ideas, collaborate on projects, and explore investment opportunities.

Over 3,000 recognized fintech startups operating in India: Government informs Parliament

The Government of India has informed Parliament that there are over 3,000 recognized fintech startups operating in the country. The information was provided by Minister of State for Finance, Shri Bhagwat Karad, in a written reply to a question in the Lok Sabha.

Tech-enabled sourcing platform Bidso raises $1.5 Mn led by PeerCapital

Bidso, a tech-enabled sourcing platform for manufacturers, has raised $1.5 million in a seed round led by PeerCapital. The round also saw participation from angel investors such as Mohit Sadaani, Nishit Garg, OfBusiness Founders Saurabh Jain and Rohan Bhargava, and Livspace CEO Anuj Srivastava.

BYJU’S MAY SEE $50M-60M YEARLY RISE IN INTEREST COST ON $1.2B LOAN UNDER REVISED TERMS

BYJU’S, the Indian edtech giant, may see its annual interest cost on its $1.2 billion term loan rise by $50 million to $60 million under revised terms agreed to with lenders, according to a report by The Economic Times.

MOBILE PREMIER LEAGUE LAYS OFF 350 EMPLOYEES AFTER REVISED 28% GST ON GAMING

Mobile Premier League (MPL), a popular Indian fantasy sports and gaming platform, has laid off 350 employees. The layoffs come after the Indian government revised the Goods and Services Tax (GST) on online gaming to 28% from 18%.

GoZero raises $1 M in pre-Series A DSG, Saama, and V3 Ventures

GoZero, a zero-sugar ice cream brand in India, has raised $1 million in a pre-Series A round led by DSG Consumer Partners, Saama Capital, and V3 Ventures. The round also saw participation from angel investors such as Nitin Gupta, Founder and CEO of PharmEasy, and Ankit Nagori, Co-founder and CEO of Curefit.

All Is Well raised $250K from Bharat Founders Fund, a group of angel investors

All Is Well, an AI-enabled integrated fitness tech platform, has raised $250K in funding from Bharat Founders Fund, a group of angel investors. The round also saw participation from angel investors such as Vaibhav Sisodia, Co-founder of Livspace, and Ashish Hemrajani, Founder and CEO of BookMyShow.

Dallas Venture Capital (DVC) strengthens its advisory team with multiple appointments

Dallas Venture Capital (DVC), a cross-border venture capital firm, has strengthened its advisory team with multiple appointments. The new advisors bring a wealth of experience in the technology, finance, and business sectors.

WhatsApp announces screen sharing feature for video calls

WhatsApp, the popular messaging app, has announced a new feature that will allow users to share their screens during video calls. The feature is currently rolling out to beta testers and is expected to be available to all users in the coming weeks.

EV startup AVERA announces ₹100 crore expansion; eyes Australia foray

AVERA, an electric vehicle (EV) startup, has announced a ₹100 crore expansion plan. The company plans to use the funds to set up a new manufacturing facility, expand its R&D team, and increase its marketing and sales efforts.

37 startups funded under North East Venture Fund: MoDNER

The Ministry of Development of North Eastern Region (MoDNER) has funded 37 startups under the North East Venture Fund (NEVF). The fund has a corpus of ₹100 crore and is aimed at promoting startups in the North Eastern states of India.

Unilever’s venture capital arm invests in What’s Up Wellness

Unilever’s venture capital arm, Unilever Ventures, has invested in What’s Up Wellness, a digital-first wellness brand in India. The investment is part of Unilever Ventures’ strategy to invest in startups that are disrupting traditional industries, such as healthcare and wellness.

Ayurvedic Wellness Startup Dr Mantra Raises Nearly $200,000 In Funding

Dr Mantra, an Ayurvedic wellness startup, has raised nearly $200,000 in funding from a group of angel investors. The investment will be used to expand the company’s product offerings and to reach more customers.

Credgenics raises $50 Mn in Series B from WestBridge, Accel and others

Credgenics, a debt recovery and legal automation platform, has raised $50 Mn in Series B funding from WestBridge Capital, Accel Partners, and others. The investment will be used to expand the company’s product offerings and to reach more customers.

Article By CA Pankaj Dara

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