Startup news and updates: daily roundup (May 15, 2023) – YourStory
Funding
AZAD engineering luggage funding from Sachin Tendulkar
Sachin Tendulkar has made a strategic undisclosed funding in AZAD Engineering, an engineering and know-how options supplier for international OEMs in industries together with clear vitality, aerospace, defence, oil and fuel, and so on.
“We’re thrilled to have Sachin Tendulkar as an investor, and it’s a large honour for us. As an organization devoted to selling advanced manufacturing and self-reliance, AZAD will concentrate on our imaginative and prescient and create extra progress and innovation alternatives for India,” stated Rakesh Chopdar, Founder and Managing Director of AZAD Engineering.
The corporate works with marquee international purchasers like Boeing, GE, Mitsubishi, Siemens Power, Honeywell, Eaton, GE Aerospace, and Baker Hughes, and home giants like HAL, Godrej, TATA, and Mahindra Aerospace, amongst others.
Bollywood star Shilpa Shetty invests in wholesome meals startup WickedGud
WickedGud, a direct-to-consumer (D2C) startup specializing in wholesome indulgent meals merchandise, has raised Rs 2.25 crore funding from Bollywood celebrity and health guru, Shilpa Shetty. The funding was secured by its mum or dad, Mumbai-based firm 100Percent Nourishment Pvt Ltd.
Shetty, recognized for her wholesome life-style advocacy and serial startup investments, joins a listing of notable traders in WickedGud, together with Titan Capital, Mumbai Angels, NB Ventures, Dholakia Ventures, Enterprise Catalyst, and different outstanding founder angels.
WickedGud garnered further publicity by means of its participation in Shark Tank India Season 2‘s grand finale episode, resulting in a profitable growth into worldwide markets such because the UAE, Singapore, Mauritius, and Nepal. Clients can buy WickedGud merchandise instantly from the corporate’s web site and thru common ecommerce platforms equivalent to Amazon, Blinkit, BigBasket, Swiggy Instamart, Zepto, and Flipkart.
Jarvis secures funding from Bestvantage Investments, Hem Securities
Jarvis, an AI-based funding firm, has concluded its newest funding spherical with investments from Bestvantage Investments and Hem Securities Ltd.
“We’re thrilled with the end result of this funding spherical and grateful for the assist of our traders. This funding will allow us to additional improve our AI-powered funding platform and supply our purchasers with much more correct and environment friendly funding options,” stated Sumit Chanda, CEO of Jarvis.
Jarvis’ mannequin makes use of 40 million knowledge parameters to generate data-backed insights and goals to democratise entry to stylish funding methods and ship superior returns to its purchasers by means of using AI-based know-how and data-driven insights.
Different information
RuPay to supply CVV-free funds
India’s home card community RuPay will supply Card Verification Worth (CVV) free cost expertise for its debit, credit score, and pay as you go cardholders who’ve tokenised their playing cards on the service provider software or webpage.
Tokenization is a know-how that ensures the safety of card transactions by defending clients’ card particulars from cyber fraud.
When a cardholder chooses to avoid wasting their card for a home ecommerce transaction, they authenticate it by offering their card particulars (card quantity, CVV, and card expiry date) as a one-time exercise. They then enter a One-Time Password (OTP) for two-factor authentication. The small print are tokenized and securely saved with the service provider, eliminating the necessity for the precise card particulars to be saved. In subsequent transactions, clients can full the cost course of by merely getting into the OTP, with out having to enter the CVV or different card particulars once more.
To make sure a easy cost course of, RuPay has collaborated with RazorPay and different main cost aggregators/gateways like PayU, CyberSource, Firstdata, and Paytm. The CVV-less cost expertise is now out there on platforms equivalent to Rapido and Porter, and efforts are underway to increase this characteristic to different retailers.
Virat Kohli collaborates with Trion to launch one8 health app
Virat Kohli, in collaboration with Trion, has launched the one8 Health app, aiming to supply personalised exercise programmes and complete assist for customers to realize their health targets.
Out there on each Android and iOS platforms, the one8 Health app is designed to cater to the various wants of health fans. It options personalised exercise programmes that adapt to the person’s health degree and particular person preferences.
Whether or not customers are new to health or have a sophisticated coaching background, the app affords tailor-made programmes to go well with their necessities. It covers numerous coaching sorts, together with power, mobility, and athletic efficiency, empowering customers to raise their health ranges, whether or not they’re on the health club, at house, or on the go.
Customers may also obtain motivational messages from the cricketer throughout their coaching classes and entry unique content material showcasing Virat’s health regimes.
“I’ve at all times been captivated with health and have personally skilled the advantages of a wholesome life-style. With the one8 Health app, I purpose to supply a platform that encourages folks to make health part of their day by day routine,” Kohli stated on the launch.
IAN welcomes Priyank Garg as Managing Accomplice of IAN Alpha Fund
Priyank Garg, an entrepreneur and energetic early-stage investor, has joined IAN (Indian Angel Community) because the Managing Accomplice of the IAN Alpha Fund, the second fund within the sequence of IAN Group’s funds.
The brand new managing companion comes with over 26 years of expertise in sectors equivalent to cleantech, manufacturing, healthtech, SaaS, and know-how.
“As an angel investor, I’ve been investing with IAN for 14 years throughout sectors and have actually appreciated the depth of engagement, high quality of portfolio founders, and concentrate on governance and returns. Having tried many others, that is the solely platform that places the well being of the Indian startup ecosystem on the coronary heart of its work from the day of its founding to at present,” stated Garg.
A graduate of Stanford and IIT Delhi, Garg has invested in over 60 firms in India and abroad throughout his 15-year tenure as an angel investor. In 2019, he co-founded IOTomation, a constructing IoT firm, and presently serves because the President of the Delhi Chapter of ISHRAE (Indian Society of Heating Refrigeration and Air-conditioning Engineers).
Moreover, he’s actively concerned with numerous startup and early-stage platforms, together with NASSCOM Emerge, India Innovation Initiative, and Samsung Innovation.
AI options supplier Staqu Applied sciences introduces warmth mapping know-how
Staqu Applied sciences, an AI options supplier, has launched a warmth mapping characteristic for his or her JARVIS platform, which utilises real-time digital camera feeds to trace human motion.
JARVIS warmth mapping offers insights into buyer behaviour, demographics, shopper preferences, and retailer structure optimisation. It additionally enhances stock administration, analyses gross sales and buyer metrics, and identifies potential income mills.
“By offering complete knowledge evaluation and insights, we may help companies improve their buyer expertise and create efficient enterprise methods to realize the perfect income progress,” stated Atul Rai, the CEO of Staqu Applied sciences.
Past retail, JARVIS and its warmth mapping characteristic discover purposes in good cities, actual property, manufacturing, and airports. It aids in security hazard prevention, tracks illegal actions, identifies hearth hazards, and offers helpful analytics.
The Gurugram-based AI startup goals to unravel real-world issues by means of know-how. Established in 2015, the corporate specialises in picture recognition, language-independent proprietary speaker identification, and textual content processing.
Ericsson efficiently completes charging consolidation programme for Vodafone Concept, streamlining operations
Telecommunications large Ericsson has introduced the profitable completion of a charging consolidation program for Vodafone Concept Ltd. (VIL), marking the primary implementation of its form. This consolidation program entails changing three present On-line Charging Options (OCS) with Ericsson charging, which now serves as the one OCS answer throughout the nation. Notably, this set up marks one of many largest and most profitable implementations of its form within the trade thus far.
The consolidation of the net charging answer, mixed with an built-in knowledge coverage structure, will allow Vodafone Concept to launch merchandise quicker and optimise its operational effectivity. With a simplified pay as you go charging stack and a unified structure for charging and knowledge coverage, the corporate will expertise better uniformity in buyer expertise, life cycle administration, product modeling, configuration, options, and capabilities.
The unified structure and streamlined operations will even empower Vi to regulate credit score whereas offering customers with extra flexibility in managing their prices by means of customised packaging, bonuses, and reductions.
IIT Madras launches Centre for Accountable AI to drive moral improvement of AI options
The Indian Institute of Expertise Madras (IIT Madras) has established the Centre for Accountable AI (CeRAI), an interdisciplinary analysis centre devoted to selling the moral and accountable improvement of AI-based options in real-world purposes.
The centre goals to turn into a number one analysis establishment on the nationwide and worldwide ranges for each basic and utilized analysis in Accountable AI, with a concentrate on deploying AI programs inside the Indian ecosystem.
Google has turn into the primary platinum consortium member of CeRAI and has contributed a considerable sum of $1 million to assist the centre’s initiatives. To mark its inauguration, the Centre for Accountable AI organized a workshop on ‘Accountable AI for India’ on Could 15, 2023.
The workshop was formally inaugurated by Rajeev Chandrasekhar, Honorable Minister of State for Electronics and Data Expertise and Ability Improvement and Entrepreneurship, Authorities of India.
The first targets of CeRAI are to provide high-quality analysis outputs, together with analysis articles, white papers, and patents. Moreover, the centre goals to develop technical sources equivalent to curated datasets (each common and India-specific) and software program toolkits associated to Accountable AI.
IAMAI gears up for election to form future management
Eighty-three members of the Web and Cellular Affiliation of India (IAMAI) are set to compete within the election for the 24-member IAMAI Governing Council. The highest three companies, based mostly on the votes obtained, will assume the positions of Chairperson, Vice Chairperson, and Treasurer, forming the Govt Council.
IAMAI conducts elections each two years, and each the Governing Council and Govt Council serve for a time period of two years. The election outcomes might be introduced by the top of Could 2023, and the newly-elected Governing Council will assume workplace after the Annual Normal Assembly in June 2023.
All IAMAI members, totalling over 500, aside from just a few firms lower than two years outdated, are eligible to contest and vote within the elections.
IAMAI boasts a various membership, consisting of each massive international and Indian firms, in addition to smaller entities. Presently, 65% of the membership includes Indian firms.
(This text might be up to date with the newest information all through the day.)
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