Latest News from Indian Startup Ecosystem [Funding, Technology, Launch, Collaboration]
Zoom Air, new Indian airline to start commercial operations from Feb 15
Zoom Air is the 12th operational domestic carrier promoted by Zexus Air services. On Sunday Zoom Air flew its inaugural flight from the national capital and will commence with its commercial operations from 15th February. Their first flight will be from Delhi to Durgapur via Kolkata. The carrier will also fly from Delhi to Amritsar, Surat and Bhavnagar in the first phase of its operations. Zoom Air’s entry will definitely increase the competition in the domestic aviation industry. The initial capital of 20 crores has been invested in the carrier.
Ola CMO Anuj Bhargava quits
Anuj Bhargava has departed from Ola following Rajiv Bansal and Raghuvesh Sarup’s footsteps. After several top level exits since December, cab service provider Ola has appointed Sanjay Kharab a former executive with InMobi and Pranav Tiwari a former chief technology officer of Cellworks, as vice presidents in order to strengthen the top level management. Kharab will look after Ola’s backend technology while Tiwari will be accountable for increasing the profits by an efficient supply chain.
Cab strike of Ola, Uber drivers called off partially in Delhi-NCR
Delhi’s transport minister Satyendar Jain has assured that most of the demands put forth by Ola & Uber drivers will be fulfilled. After the government’s assurance, the indefinite strike was partially called off. The app-based car aggregators consist of 6 unions out of which five have withdrawn from the strike and have agreed to resume to run taxis in Delhi NCR. Sarvodaya Driver Association of Delhi (SDAD) which constitutes of 1.5 lakh of drivers in Delhi-NCR, has not yet withdrawn its strike and will continue tomorrow.
Demonetization- A boost to a new start up FAIRCENT
Demonetization has not only created a lot of hurdles in many businesses but was also a blessing in disguise for a few. One such startup which benefited during this time is FARICENT.FAIRCENT is a creative peer to peer lending marketplace for loans. This is a platform where lenders and borrowers can interact directly and agree upon an amicably agreed rate of interest on loans. They aim at using technology to speed up the process and reduce costs in the marketplace. Digital India has put them in a sweet spot from issuing Rs 15-20 lakh a month to now disbursing Rs 1.5 crore on a monthly basis.
INSPIRE Awards-MANAK’ initiated by government
The INSPIRE Award MANAK (Million Minds Augmenting National Aspiration and Knowledge) has been set up by the government in order to motivate students to pursue a career in Science & research and to encourage young entrepreneurs. Students from government & private schools throughout the country are invited to showcase their innovative technological ideas. They should come up with common problems faced by the society and their own creative solutions for the same. This scheme aims at strengthening research and development in the field of science & technology.
SigTuple raises $5.8 million with the help of Accel partners
SigTuple is a Banglore based start-up in the health care sector. The team has built a data stack and analyzes medical scans, videos and images which generate information to help in diagnosis. SigTuple have applied artificial intelligence to medical data will improve the effectiveness of the medical experts by automating visual medical analysis processes which are painful and wears you out.SigTuple just announced that it has accumulated an array of funding of $5.8 million from Accel Partners and has also been supported by many outstanding institutional investors like IDG Ventures, Endiya Partners, VH Capital, Pi Ventures, Axilor Ventures.
Fashion platform Wooplr funded with $8Mn
Wooplr is India’s first; topmost discovery and commerce platform. It is a Bangalore based startup aiming to enable people with a good shopping experience in the world of fashion, home décor and food. They have managed to raise $8 million in funds from Sistema Asia fund, a property fund floated by Sistema JSFC. Dhruv Kapoor, MD of Sistema Asia Fund (SAF) Advisory said that SAF believes in supporting established or emerging leaders in technology and consumer brand businesses.
Carlsberg India signs deal to expand and strengthen footprint in India
Carlsberg has planned to expand and get a foothold in India. They rank third in the Indian beer market and have signed two manufacturing contracts recently. The Danish brewer sealed the deal with Pali Hills Breweries in Jharkhand and with Lilasons Industries Ltd in Maharashtra. Both the breweries will manufacture Carlsberg Elephant and Tuborg Strong.
FRESHTOHOME; Online meat, fish delivery looking to expand its market
FRESHTOHOME is a Bangalore-based venture and has been founded by Shah Kadavil in March 2016. The business of this venture has been taking off at a high speed with its sales doubling every three months. It has more than 80 thousand customers in Kochi, Bangalore, Mysuru, Delhi and Thiruvananthapuram and is now looking to expand in 20 cities in 2017. The company has received the fastest $5 million revenue in the e-commerce sector and is funded by Google Ventures CEO David Krane and Mark Pincus, founder of gaming company Zynga.
Flipkart’s logistics arm Ekart shuts down C2C courier and hyperlocal delivery
Flipkart’s logistic service provider has closed down two of its services C2C courier and hyperlocal delivery beginning February 5th. These services were launched less than a year ago. Major operational changes are visible after Kalyan Krishnamurthy became the CEO of Flipkart. The shutdown was done with an intention to consolidate the services and focus on its core business model.
Over 8 lakh people win Rs 133 cr under digital payment scheme
Niti Aayog’s scheme to promote digital payments has awarded more than 8 lakh people a sum of Rs 133 crore in total over the last 50 days. This scheme will continue for more 50 days. On 25th December the government had introduced two schemes Lucky Grahak Yojana and Digi-Dhan Vyapar Yojana to increase digital transaction. These schemes would remain open until April 14.