Indian Startup Times’ Post

In a groundbreaking move aimed at enhancing customer experience, leading fashion e-commerce platform Myntra has announced its partnership with Twid, a cutting-edge rewards-based payment network. This collaboration will enable Myntra's vast user base to make purchases using reward points, adding a new dimension to their shopping journey. Twid, known for its innovative approach to integrating reward points from various sources, will allow Myntra customers to seamlessly convert and utilize their accumulated points from multiple loyalty programs. This partnership is set to revolutionize the way shoppers engage with Myntra, providing them with more flexibility and value for their spending. Ananth Narayanan, CEO of Myntra, expressed his enthusiasm about the partnership, stating, "We are thrilled to collaborate with Twid to introduce a new, convenient payment method for our customers. This initiative aligns with our commitment to continually enhance the shopping experience and provide our users with unparalleled value." Amit Koshal, CEO of Twid, echoed this sentiment, adding, "Our partnership with Myntra marks a significant milestone in our mission to make reward points a mainstream currency. We are excited to see how this integration will transform the shopping experience for Myntra's customers." This strategic partnership is expected to attract a broader customer base, encouraging more users to leverage their reward points for fashion and lifestyle purchases on Myntra. It also underscores Myntra's dedication to staying at the forefront of technological advancements in e-commerce, ensuring that it remains a preferred destination for fashion enthusiasts across the country. Myntra twid #Myntra #Twid #FashionEcommerce #RewardPoints #DigitalPayments #ShoppingRewards #CustomerExperience #FashionTech #EcommerceInnovation #LoyaltyProgram

Abra, a leading crypto trading platform, has strategically broadened its investment portfolio by acquiring private trusts from Valkyrie. This acquisition marks a significant move for Abra, enhancing its capabilities and offerings in the rapidly evolving cryptocurrency market. The integration of Valkyrie's private trusts is expected to bolster Abra's position as a premier platform for diversified crypto investments, providing users with expanded opportunities and enhanced security in their trading endeavours. In addition to TRON and Zilliqa, Abra purchased several other unnamed digital asset trusts from Valkyrie. Marissa Kim, Abra's head of asset management, also told the financial outlet that the trading platform could list the trusts on public exchanges, should market demand grow for the investment vehicles. “This acquisition will provide ACM with a way to expand its current offering of spot and DeFi products to a new audience of investors,” Kim said. Abra may consider filing to make some of the trusts publicly traded in future, she added, “depending on market appetite.” Abra Bill Barhydt #CryptoNews #Abra #Valkyrie #CryptoTrading #InvestmentPortfolio #Blockchain #CryptoAssets #CryptoInvesting #Fintech #CryptoAcquisition #DigitalAssets #CryptoMarket #StrategicAcquisition

Infra.Market, a prominent player in the construction materials procurement sector, has successfully secured a substantial INR 185 crore in debt funding. The funding round was led by Yubi and saw participation from other key investors. This financial infusion is expected to bolster Infra.Market's expansion efforts and strengthen its market position in India's rapidly growing infrastructure landscape. The company plans to utilize the funds to enhance its technology platform, expand its product offerings, and further scale its operations across the country. Infra.Market's ability to attract significant funding underscores its robust growth trajectory and strategic vision in transforming the construction supply chain sector. Infra.Market Aaditya Sharda Souvik Sengupta Yubi #InfraMarket #DebtFunding #YubiInvests #InfrastructureGrowth #ConstructionMaterials #IndianBusiness #FinancialNews

Breaking Barriers: NIRAJ LUNAVAT’s Journey to Revolutionize AI in India. Niraj Lunavat, the founder of Ai India Innovation Center, stands out as a visionary disruptor in the technological landscape. His journey from a driven young engineer to a pioneering AI entrepreneur reflects resilience and bold vision. Despite the challenges of a global pandemic, Niraj founded AI India Innovation Center, which today is recognized for its impactful AI solutions across diverse sectors. His story is a testament to overcoming obstacles, driving change, and pushing the boundaries of artificial intelligence in India. Read More: https://lnkd.in/gNZPedff #AI #Innovation #Entrepreneurship #TechLeadership #AIIndia Raamesh Chandra

Inflection Point Ventures Announces Seed Funding for Winners of Startup Accelerator Program IPV Ideaschool Batch 1.0! Bloq Quantum, Medront Datalabs, and Telkes Technologies (MyPickup)Named Winners! Each winning startup bags seed funding of Rs 80 Lakhs! Key Highlights: Ideaschool Batch 1.0 launched in January 2024 and attracted over 1,000 applications. The top 15 finalists pitched to a distinguished jury of reputed CXOs. Winners awarded for their unique and innovative ideas, receive critical seed funding. Important Dates: July 11, 2024, Delhi: Announcement of IPV Ideaschool Batch 1.0 winners. August 1, 2024: Launch of Ideaschool Batch 2.0! About the Winners: Bloq Quantum (Sreekuttan L S): Revolutionizing quantum computing with AI-enabled solutions. Medront Datalabs (Nitesh Singh): Secure Data Pods & Consent Platform, empowering users over personal data. Telkes Technologies (Abhijeet Jagtap): Subscription-based electric auto-rickshaw services for daily commutes. Mitesh Shah, Co-Founder, Inflection Point Ventures: "IPV Ideaschool accelerator program was started with a vision to support, nurture, and mentor sustainable and innovative startups. This confirms our thesis that innovation is not restricted to key startup hubs but is emerging from small pockets across the country." Telkes Technologies' Advantage: "The accelerator program gives us a significant advantage over other startups... IPV's extensive ecosystem helps us scale rapidly, ensuring our ability to raise institutional rounds." - Abhijeet Jagtap, Founder & CEO, Telkes Technologies. Next Steps: Batch 2.0 Launch: August 1, 2024 Applications Open: August 1 - August 20, 2024 About Inflection Point Ventures: Inflection Point Ventures (IPV) is one of the largest angel investment platforms, supporting new-age entrepreneurs by providing both monetary and experiential capital. With over 17,000+ CXOs, HNIs, and professionals collectively investing, IPV is dedicated to nurturing innovative startups. Read More: https://lnkd.in/gyG6HVaA #StartupFunding #IPVIdeaschool #Innovation #Entrepreneurship #SeedFunding #TechStartups #QuantumComputing #DataSecurity #SustainableTransport #InflectionPointVentures #Batch2Launch

In today's dynamic trading session, the Indian stock market is witnessing significant gains with both the Nifty and Sensex indices soaring to new heights. The Nifty 50 has reached an impressive level of 24,550, while the BSE Sensex has surged by 800 points, showcasing strong market momentum. A major driver of today's rally is the robust performance of IT stocks, which are outperforming other sectors. Leading IT companies are seeing substantial gains, contributing significantly to the overall market uptrend. This surge in IT stocks reflects the sector's strong earnings, favourable business outlook, and continued demand for digital and technological solutions. Additionally, positive economic indicators and strong corporate earnings reports have bolstered investor confidence. Banking, consumer goods, and pharmaceutical sectors are also contributing to the market's upward trajectory, reflecting a broad-based rally. Market analysts attribute the bullish sentiment to a combination of factors, including global market trends, favourable government policies, and investor optimism about the economic recovery. The sustained inflow of foreign investments and robust domestic participation further support the market's strength. As the trading day progresses, market participants are closely monitoring key economic announcements and corporate developments that could influence market dynamics. With Nifty at 24,550 and Sensex up by 800 points, today's trading session underscores the resilience and potential of the Indian stock market. BSEIndia #Nifty50 #Nifty #StockMarket #NiftyIndex #IndianStockMarket #Investing #Trading #FinancialMarkets #MarketUpdates #StockInvesting #NiftyPerformance #MarketMilestone #StockMarket #Nifty24550 #SensexRally #MarketUpdates #ITStocks #Investing #Trading #FinancialNews #MarketHighs #LiveUpdates #BullMarket #StockSurge #InvestorAlert

Simplismart Secures $7 Million in Accel-Led Funding Round! We're excited to announce that Bengaluru-based generative AI startup, Simplismart, is raising $7 million in a funding round led by Accel. This significant investment marks another milestone in the rapidly growing generative AI sector in India. Founded in 2022 by visionary entrepreneurs Amritanshu Jain and Devansh Ghatak, Simplismart empowers businesses to build scalable, production-grade AI systems without writing a single line of code. Their innovative platform allows both amateurs and experts to collaboratively train and monitor ML models across various data types and use cases. This latest funding round, backed by existing investors including Anicut Capital LLP, Sunn91 Ventures, First Cheque, and Shastra VC , positions Simplismart at an impressive $35 million valuation. The company was also part of the prestigious AWS ML Elevate program in July 2023, showcasing the best generative AI startups in India. As the generative AI landscape continues to evolve, Simplismart is set to lead the charge with its cutting-edge solutions. Stay tuned for more updates! Read More: https://lnkd.in/g92GYCZC #Simplismart #GenerativeAI #Accel #FundingNews #AIStartups #BengaluruStartups #MachineLearning #NoCodeAI #TechInnovation #StartupFunding

House of Biryan Raises $2 Million to Fuel Expansion! We're excited to announce that House of Biryan - Biryani, Kepsa and More, a thriving quick service restaurant (QSR) chain, has secured $2 million in a new funding round. The investment was led by Al Siraj Holdings SAOC, a family office from the Middle East, along with Angel Star Ventures, LLC and accredited high-net-worth individuals from America. Founded in 2022 by Mikhail Shahani and Mohammed Bhol, the House of Biryan has already raised $3 million. With 12 kitchens currently operating in Mumbai and Delhi, the fresh funds will enable the company to add 30 more outlets, aiming for 42 kitchens. The expansion is part of their ambitious plan to achieve a run rate of Rs 100 crore in annual revenue by December 2025. Presently, House of Biryan boasts an annual recurring revenue (ARR) of Rs 25 crore. Stay tuned for more updates as House of Biryan continues to bring its delectable biryani offerings to a broader audience! Read More: https://lnkd.in/gQvA6igQ #HouseOfBiryan #QSR #FundingNews #StartupGrowth #BiryaniLovers #Investment #FoodIndustry #Mumbai #Delhi #Expansion #AnnualRevenue #ARR #AlSirajHoldings #AngelStarVentures

Exotel, a prominent player in the communication technology sector, has reported achieving a milestone revenue of ₹400 crore in the fiscal year 2023. Despite this impressive financial milestone, the company also faced a notable surge in losses during the same period. The company's total expenses surged by 51.8% to Rs 554 crore in FY23, up from Rs 365 crore in FY22, driven by telephone postage, travelling conveyance, legal professional charges, and advertising promotional expenses. However, Exotel reported a widening loss of Rs 109 crore in FY23, from Rs 43 crore in FY22, marking a 2.5x increase in deficit. The Bengaluru-based firm’s total income rose to Rs 447 crore in FY23 from Rs 328 crore in FY22. Meanwhile, the company’s employee stock ownership plans (ESOPs) increased by 43.3% to Rs 245 crore in FY23 from Rs 171 crore in FY22. This development underscores Exotel's growth trajectory amidst challenging market conditions, highlighting its resilience and strategic positioning in the competitive landscape of communication solutions. Exotel Shivakumar Ganesan #ExotelGrowth #FinancialResults #TechIndustry #RevenueSurge #LossesIncrease #CommunicationTech #BusinessChallenges #FinancialUpdate #StartupNews #InnovationInTech

Bengaluru-based electric mobility startup VidyutTech is foraying into pre-owned EV sales and financing business for commercial vehicles. It is also planning to expand its offerings to used passenger electric vehicles and two-wheelers. In a significant move towards revolutionizing the electric vehicle (EV) market, e-mobility startup Vidyut has announced the launch of its offline pre-owned EV sales and financing platform. This innovative initiative aims to make electric vehicles more accessible to a broader audience by providing a reliable marketplace for high-quality, pre-owned EVs. Vidyut's new platform will not only facilitate the purchase of pre-owned electric vehicles but also offer comprehensive financing options, making it easier for consumers to transition to sustainable transportation. By addressing the financial barriers often associated with EV ownership, Vidyut is poised to accelerate the adoption of electric mobility. This offline platform marks a pivotal step in Vidyut's growth strategy, aiming to build trust and provide personalized customer service. With this launch, Vidyut is set to become a key player in the pre-owned EV market, contributing significantly to the global push for greener transportation solutions. VidyutTech Xitij Kothi #EMobility #ElectricVehicles #EVStartup #Vidyut #GreenTech #SustainableTransport #EVFinancing #CleanEnergy #FutureOfTransportation #PreOwnedEVs #EcoFriendly #Innovation #EVSales #SmartMobility #TechStartup