The week that Was: Indian Startup News Overview (24th April-29th April)
Today's startup world is brimming with business opportunities, many of which have grown in India as a strong educational system bears fruit. Furthermore, Indian entrepreneurs dive headfirst into novel ideas and put them to the test. This could be because several top startups in India 2022 have succeeded through disruption. And there's more. Therefore, of its low labor costs and high skill, India is a hotbed of opportunity for experimenting with novel ideas at a low cost. Startups such as Byjus and Razorpay have achieved Unicorn status. Several startups that were unable to adapt were forced to close their doors.
What a fantastic weekend for India's startup ecosystem!.FidyPay, a fintech platform, partners with Yesbank to extend its digital facilitation to a wide range of businesses, while a drone startup ideaforge is raising funds to fuel its global ambition. We've compiled this list as a resource for you to learn about and observe the businesses that have grown. These 5 startups are an intriguing way to understand where India's business is headed. These are the top 100 companies to look at if you want to invest, get inspiration, or apply for a job. Make the most of this list to the best of your ability. These are the top 5 startups that peformed well this week with some major information about them below.
FidyPay, a fintech API platform, announced a partnership with Yes Bank on Thursday, extending digital facilitation to a wide range of businesses, including SMEs, Fintechs, and start-ups.According to a press release, FidyPay will provide a seamless connected banking experience to Yes Bank customers as part of the alliance.In addition, FidyPay will be the solution provider for UPI services.It is looking forward catering to 10 million SME and MSME through such banking collaborations as well as the extensive network of government channels that Yes Bank has acquired over the years to enable them on digital payment integrated solutions. "Strategic alliance with Yes Bank is a significant leap for FidyPay, equipping it to cater to a wider market," it said.
With this collaboration, the company intends to expand its market penetration across India, as per the company,the partnership will allow FidyPay to expand its existing product line and establish itself as a trusted technology partner for banks, corporations, MSMEs, SMEs, start-ups, and others. FidyPay stated that it is collaborating with the private sector lender on a variety of use cases, including UPI, API banking, prepaid cards, escrow accounts, PA licencing, and eRUPI, among others."We at FidyPay are driven to make a difference in the connected banking ecosystem.We are excited to serve a larger audience with our connected banking solutions, given Yes Bank's dominance in developing digital-first strategies for MSMEs and SMEs "FidyPay's Founder and CEO, Manan Dixit, stated.
The NetApp Excellerator programme has evolved over time to become truly global in scope. As a result, startups have access to resources, mentors, and industry experts from all over the world, allowing them to gain maximum exposure and knowledge.NetApp has mentored 20 global startups over the last five years.
The current cohort consists of five global startups from Germany, the United States, and Israel. NetApp, a global cloud-led, data-centric software company, recently announced the tenth cohort of its flagship startup accelerator programme, NetApp Excellerator.With this, the NetApp Excellerator has successfully accelerated the path of over 60 deep tech startups in just 5 years since its inception.
NetApp has added eight new startups to Cohort 10 that are using cutting-edge technology to solve real-world problems. These startups come from a variety of industries, including green technology, kubernetes, computer vision, health technology, and cloud security. This elite group includes EduFuse, Streamingo Solutions, LivNSense, AccuKnox, NeuroSAPIR, ShardSecure, Kubermatic, and Subcom, who were meticulously chosen for their technological prowess and problem-solving ability.
Diversification benefits technology, as it does to all businesses. NetApp has mentored eight women-led deep tech startups so far through NetApp ExcellerateHER, a dedicated initiative that promotes female founders.NetApp ExcellerateHER, which will be available in 2020, is gaining popularity among tech entrepreneurs both nationally and internationally. The current ExcellerateHER cohort will include three tech startups: LivNSense, EduFuse, and Streamingo.
Meat brand Licious, operated by Delightful Gourmet Pvt Ltd, on Wednesday said it has invested $1 million (around Rs 7.6 crore) in fresh pet food startup Pawfectly Made. This is Licious’ first strategic deal in a startup.
The meat brand sees a strong synergy with Pawfectly Made when it comes to offering high-quality fresh products and elevated meaty experience to customers, said a company statement.Pawfectly Made was launched by Arpita Ganesh in 2020. She had earlier founded the lingerie brand Buttercap, which was later acquired by Amazon. Post this deal, Pawfectly will function as a separate entity with its production processes and supply chain, the statement said.
"Pawfectly Made is a good strategic fit for us because of our shared vision and value chain synergies." "The investment will provide us with access to a unique consumer play as well as a product portfolio that will supplement our existing infrastructure," said Nichelle Kamat, VP Category, Licious.
Licious raised $150 million (Rs 1,146 crore) in an extended Series F round of funding led by Singapore-based Amansa Capital in March of this year. The company raised $52 million from IIFL Asset Management Ltd's private equity fund in October 2021 at a billion-dollar valuation, making it one of over 40 startups to join the unicorn club in 2021. Previously, in July 2021, Licious raised $192 million at a valuation of around $650 million.
VkareU, a leading home healthcare service provider announced today about to start of operation in state of Odisha. With a vision to bring quality healthcare solutions at the fingertip of people, company today unveiled its futuristic logo which reflects its core values and ethos. Patients will access various essential healthcare services through VKareU mobile app on real time basis. Company has also announced that it will start operation in the state from 30th April 2022.
Covid-19 pandemic has changed the way people look at healthcare issues with more people become aware and more conscious about health-related problem and look for early diagnosis to start treatment. Access to critical healthcare service for many still a critical issue in many areas with huge gap in delivery of quality service. But smartphone penetration and exponential rise in usage of internet open wonderful avenues to bridge this gap. Taking above aspects in mind, VKareU has started its journey to provide quality care quickly through technology intervention, and all are under one roof.
Odisha based VkareU has bouquets of services to deliver which includes doctor, nurse, physiotherapist and lab test with lab technician at home, sample collection, ambulance service, door step medicine delivery services to patient. It will leverage power of technology to provide all services at patient’s doorstep.
On this occasion, Mr Binod Agarwalla, Co-Founder & Director, VKareU said that, “We are delighted to announce start of our operation in state of Odisha. As a technology-based firm our mission is to provide complete healthcare delivery at doorstep where people realize that home-based healthcare is no longer a luxury but a necessity. We are confident that services which are available at our platform, many patients and their families will get immensely benefited who were otherwise mostly rely on their fate.”
IdeaForge, a drone manufacturing startup, has raised $20 million in a Series B funding round led by private equity firm Florintree.Other existing investors who participated in the round included Celesta, Infosys, Qualcomm, Infina, and the Exim Bank of India.The funds will be used to increase investment in research and development by the startup.IdeaForge will also use the funds to expand globally and hire more people in key industries.
Ankit Mehta, CEO and cofounder of IdeaForge, stated that "ideaForge has grown 10X in the last two years, and we will use this funding to invest in R&D, international expansion, and building a world-class team."We want to keep developing high-performance, dependable, and self-driving drones that inspire people to use this technology.It boasts of a host of marquee clients such as the Indian Navy, Indian Air Force, BSF, NSG, CRPF, Adani, Larsen & Toubro, Indian Oil, Indian Railways, among others .