Indian Startup & Business News #StartupDaily

Bhopal to live stream Startup Conclave session

The Government of Madhya Pradesh is all set to host - Startup Conclave on 29 September at B-Nest which is the incubation centre of the Bhopal Smart City Development Corporation Limited. The convention will introduce the domestic startups, innovators and potential enterprises with experts, leaders, investors, and other stalwarts from the industry. Chaired by Chief Minister Shivraj Singh Chouhan announced that the session will be live streamed in schools and colleges and expected to reach over 150,000 in schools and colleges.

Temasek-backed Unicorn UST Global Acquires SeviTech

Digital transformation solutions platform UST Global acquiresd Bangalore-based SeviTech Systems, a chip design VLSI services company for an undisclosed amount. After the acquisition, SeviTech will operate as the UST Global'’s subsidiary. It aims to ramp up new technology and deep end-market expertise of the two companies, delivering advanced solutions to global semiconductor manufacturers. With the latest acquisition UST Global has strengthened its hold in the country.

Byju’s has drawn $100 Million from General Atlantic

Bengaluru-based tutoring startup, Byju’s has reportedly raised a  $100 million in a fresh funding round led by General Atlantic India.With the infusion of fresh capital in the latest round of funding, the edtech firm’s valuation will surpass $2 billion. General Atlantic India, a private equity firm will own 5% stake in the firm post acquisition.
Byju's offers courses for school students and competitive exams like IIT-JEE, NEET, GRE and is the first Indian edtech startup to enter the Unicorn club.

PharmEasy secures $50 million from Fundamentum and others

Mumbai-based online medical store PharmEasy has scooped up $50 million from Fundamentum, (an investment firm backed by Infosys), Eight Roads ventures India among others. The latest funding will be deployed to expand its consumer base and ramp up technology.Earlier this month, the firm has secured Rs. 40 crore of debt financing from InnoVen Capital.Currently, the pharmaceutical firm’s main focus is on drugs for conditions such as diabetes, cholesterol and eventually, aims to become a one-stop healthcare service provider in the country.

Microsoft, Reliance backs AI-powered NetraDyne

Microsoft’s corporate venture arm M12 pumped in $21 million into the AI-driven startup, NetraDyne. Other investors included Reliance Industries and Point72Ventures. Last week, Reliance industries had invested $8 million in the firm. Netradyne is a vision-based analytics business with its expertise in commercial fleet management, security, and surveillance through AI and deep learning solutions. Recently, the firm has developed a vision-based fleet safety platform- Driveri. This platform combines Artificial Intelligence with video to analyse activities of the drivers on roads by notifying the vehicles with real-time information.

T-Hub and BeanStalk to Team up for Market Access Programme

Hyderabad-based startup Incubator T-Hub has announced to partner with an Ag, Food and Tech consultant venture, BeanStalk, for the Australia-India AgTech Market Access programme. The convention is sponsored by the Australian government’s Department of Foreign Affairs and Trade.
With aim to tackle some of the agricultural sector problems in both the countries, the programme is expected to kickstart in early 2019. Startups with innovative solutions, to take on the problems in the agricultural sector, will be picked. Incubator, T-Hub will aid the startups to localize the products through right channels and introduce the products to potential customers.

E-Pharmacy opens its service in Bengaluru after Mumbai

Healthcare delivery platform, MyMedicineBox has launched its service in Bengaluru. With its presence in HSR, Bellandur and Begur, the e-pharmacy assures medicine delivery in 60 minutes. This platform provides discounts from 20%-40% on their website as well as on the app. Within a year, it has acquired two major healthcare firms- Okler Healthcare and Remedial Healthcare. Earlier in January this year, it launched a Vitamin-D deficiency check-up and awareness campaign at 2,000 locations across the country.

Electric vehicle startup Strom Motors secures angel funding

Smart-mobility startup Strom Motors (E14 Technologies Pvt. Ltd.) has secured an undisclosed amount of funds steered by angel investors - Neeraj Garg, Sanjay Bhasin and Anirudh Agarwal, who will act as strategic members to the company’s board.
The latest round of capital will be deployed to solidify its stance in the tech-enabled mobility industry, setting up product sales, ramp up its expansion and increase its consumer base across markets. Hatched in 2013, Strom unveiled its all-new electric car- Strom R3 in April this year.

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