Trending Startup’s News – 26 July 2023

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Fintech Startup Funding Drops by 67% in H1 2023

Fintech startup funding in India dropped by 67% in the first half of 2023, according to a report by Tracxn. The report found that fintech startups raised $1.4 billion in funding in H1 2023, compared to $4.3 billion in the same period last year.

Kandle Raises $1.7 Million in Seed Funding to Revolutionize Crypto Fantasy Gaming

Kandle, a Singapore-based crypto fantasy gaming platform, has raised $1.7 million in seed funding. The round was led by Saama Capital, with participation from PointOne Capital, Cloud Capital, Good Capital, Founder’s Room, Seeders Fund, and CoinDCX CEO Sumit Gupta.

Data Breach Costs Surge 28% in India, Reveals IBM Security Report

The cost of data breaches in India has surged by 28% in 2022, according to a report by IBM Security. The report found that the average cost of a data breach in India is now $4.8 million.

Pixxel Secures iDEX Prime (Space) Grant for Innovative Multi-Payload Satellites

Pixxel, a Bengaluru-based spacetech startup, has secured an iDEX Prime (Space) grant from the Department of Science and Technology (DST), Government of India. The grant will be used to develop and launch a constellation of innovative multi-payload satellites.

Zyber 365 Raises $100 Million Funding from SRAM & MRAM Group to Revolutionize Web3 Cybersecurity

Zyber 365, a Web3 cybersecurity company, has raised $100 million in funding from SRAM & MRAM Group. The funding will be used to accelerate the development of Zyber 365’s platform, which provides a comprehensive suite of cybersecurity solutions for Web3 businesses.

Rural Electrification Corporation provides Greencell Mobility with a debt of INR 3,000 crores

Rural Electrification Corporation (REC) has provided a debt of INR 3,000 crores to Greencell Mobility, a leading electric bus manufacturer in India. The debt will be used to finance the development and production of electric buses by Greencell Mobility.

Varashakti Housing Finance Secures ₹35 Crore Funding from Incofin

Varashakti Housing Finance, a Chennai-based rural housing finance provider, has secured ₹35 crore in funding from Incofin, a global impact investor. The funding will be used to expand Varashakti’s reach and provide affordable housing to more rural households in India.

Mumbai Angels Invest in Redbasil

Mumbai Angels, a leading angel investment network in India, has invested in Redbasil, a tech-driven, zero-inventory marketplace for wholesale food. The investment will help Redbasil to expand its reach and grow its customer base.

Read More…Mumbai Angels Invest in Redbasil

EVINDIA Secures Undisclosed Amount in Pre-Seed Funding Round Led by EvolveX Accelerator

EVINDIA, a social commerce startup in the electric vehicle (EV) sector, has secured an undisclosed amount in pre-seed funding round led by EvolveX Accelerator. The round also saw participation from angel investors, including Neeraj Tyagi, Gaurav VK Singhvi, and Vikas Aggarwal.

Minifeel Raises INR 3 Crore in Pre-Seed Funding Round Led by 100X.VC

Minifeel, a financial technology platform that provides secured credit to consumers, has raised INR 3 crore in pre-seed funding round led by 100X.VC. The round also saw participation from angel investors, including KRS Jamwal, Aniket Nikumb, Manish Kumar, Sumit Khadria, Rajesh Sawhney, IndiaMart founder Dinesh Agarwal, and others.

Pantomath Financial Services Group Acquires 75% Stake in Fundgini.com

Pantomat Financial Services Group, a leading financial services company in India, has acquired a 75% stake in Fundgini.com, a leading online investment platform. The acquisition will help Pantomath to expand its reach and offer a wider range of investment products to its customers.

Prosus raises concerns about BYJU’S reporting and governance, citing disregarded advice

Prosus, a major investor in BYJU’S, has raised concerns about the company’s reporting and governance practices. In a letter to the company’s board of directors, Prosus said that it has repeatedly raised concerns about these issues, but that its advice has been disregarded.

OYO Introduces GPT-4 Powered Contactless Self Check-In for UK Hotels

OYO Hotels, a global hospitality chain, has introduced a new contactless self check-in service powered by GPT-4, a large language model developed by OpenAI. The new service allows guests to check in and out of their hotel rooms without interacting with any human staff.

Lavasa, India’s first private hill station, sold to Darwin Platform for Rs 1814 Cr

Lavasa, India’s first private hill station, has been sold to Darwin Platform for Rs 1814 crore. The sale was announced on March 8, 2023. Lavasa was developed by Hindustan Construction Company (HCC) in 2006. The hill station is located in the Western Ghats near Pune, Maharashtra. It is spread over an area of 2,300 acres and has a population of around 30,000 people.

Indian Startup Actofit Secures Patent for Remote Exercise Therapy Technology

Actofit, an Indian startup that develops remote exercise therapy technology, has secured a patent for its technology. The patent covers the use of artificial intelligence (AI) to track and analyze patient movement data, and to provide personalized exercise recommendations.

Vinculum Group secures the first tranche of their Series C funding

Vinculum Group, a leading omnichannel retail SaaS solution provider, has secured the first tranche of their Series C funding. The round was led by Delhivery, a leading logistics unicorn, along with participation from Accel Partners and Recur Club.

TravClan Reveals Transformative Trends and Preferences Among Indian Travelers in Comprehensive Report

TravClan, a leading travel technology company, has released a comprehensive report on the transformative trends and preferences among Indian travelers. The report, titled “The State of Indian Travel 2023,” provides insights into the changing landscape of Indian travel, including the rise of solo travel, the growing popularity of experiential travel, and the increasing importance of sustainability.

Article By CA Pankaj Dara

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