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| Jan 01, 1970 | Daily Report |
| RISING BHARAT | News Count (102626) | |
22131. Latest News | LSV Capital Earmarks USD 70 Mn for Indian Start-ups, Opens Local Office
Make in India / Atmanirbhar
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Investment in Bharat by companies of other countries
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- The UK-based Life Science Vision Capital on Friday said it has earmarked USD 70 million initially for investment in digital healthcare and life science start-ups. The company also set up its first office in Bengaluru to have closer interaction with start-ups in the country.
- The company is looking to hire senior-level associates in life sciences to join the firm for its India office which will be operational by early-2021.
- LSV Capital has already been investing in India remotely since 2019. Earlier this year, the firm partnered with Aster DM Healthcare and Social Alpha to launch Xhealth Innovation Labs, a global digital healthcare and medtech accelerator.
22132. [The Turning Point] How these two entrepreneurs are saving the planet with their clean energy startup
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Startups in Bharat
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- Harshit Poddar and Anuvrat Saboo, both in their 20s, embarked on their entrepreneurial journey in 2017 and founded clean energy startup SafEarth.
- The Turning Point is a series of short articles that focuses on the moment when an entrepreneur hit upon their winning idea. Today, we look at Ranchi-based clean energy startup SafEarth started by Harshit Poddar and Anuvrat Saboo.
- “We felt that this industry needed a new, more customer-centric approach, and only then could it scale up and save the world. We decided that the only way to do that would be to build a company, which would operate as the world’s go-to clean energy platform that solves the problems consumers face when adopting clean power,” Harshit says.
22133. Exclusive: Drivezy Is Raising $30 Mn From Shell, Middle East Sovereign Fund
Make in India / Atmanirbhar
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Investment in Bharat by companies of other countries
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Inc42
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- While Middle East sovereign fund is in the final stages of closing the deal, Shell Global has already closed it
- To date, Drivezy has raised $35 Mn in equity financing and $128 Mn in asset financing
- The company was also said to be in talks with Zoomcar for a merger
22134. This agritech startup aims to empower India’s 126M small farmers with technology and data
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Startups in Bharat
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- Agribazaar is a Delhi-NCR based agritech startup that connects farmers, traders, banks, enterprises, and governments.
- Founded in 2016 in Delhi-NCR, Agribazaar started by building an online platform to connect farmers, traders, banks, enterprises, and governments. In 2017, the team created an award-winning e-wallet — AgriPay — that has facilitated transactions of over $1 billion so far.
- Agribazaar has replicated the physical mandi to an electronic e-mandi aggregator mode. Once a farmer registers and uploads his produce, buyers like merchants, traders, and corporates can give orders for purchase. Once the deal is complete, the on-ground staff pick up the produce for delivery from the farmer’s choice of pick-up point to the buyer’s destination.
22135. This Noida-based video-sharing startup is helping content creators monetise their craft
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Startups in Bharat
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- Noida-based social media video-sharing startup Fun2 aims to celebrate the diversity of Indian culture, focusing on a content-first and creator-driven business philosophy.
- Inspired by this possibility, three friends — Sidhartha Rao, Manoj Bhanu, and Rahul Bhattacharya — started Fun2 in May 2020. The platform encourages people and communities to come together and showcase their diversity, trends, and creativity across many categories.
- Inspired by this possibility, three friends — Sidhartha Rao, Manoj Bhanu, and Rahul Bhattacharya — started Fun2 in May 2020. The platform encourages people and communities to come together and showcase their diversity, trends, and creativity across many categories.
22136. Taiwanese suppliers for Apple to invest US$900 million in India
Make in India / Atmanirbhar
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Investment in Bharat by companies of other countries
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Taiwan News
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- Three Apple suppliers in Taiwan are reportedly planning to invest a total of US$900 million in India in the next five years under the Indian government's new incentive plan for large-scale electronics manufacturing.
- The three Taiwanese contract manufacturers — Foxconn, Wistron, and Pegatron — all plan to participate in India's US$6.65 billion production-linked incentive (PLI) scheme, according to Reuters. The scheme is expected to help add 0.5 percent to India's economic growth in five years by encouraging local electronics production and attracting large investments from major global manufacturers.
- The report said that Foxconn has already applied to invest US$542 million, while Wistron and Pegatron have committed to invest US$176 million and US$163 million, respectively. Although it is unknown whether all the investment will go towards producing Apple products, sources familiar with the matter told Reuters that the majority of it will be used to expand iPhone manufacturing in India.
22137. ‘Study now, pay later’ is Mumbai-based startup Eduvanz’s USP for education loans
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Startups in Bharat
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- Fintech startup Eduvanz, founded by IIT graduate Varun Chopra and IIM alumnus Raheel Shah, offers easy, fast, and affordable financing options for students, learners, and parents.
- Set up in 2016 offers flexible tenures, fast turnaround time, and full transparency on loan decisions for all learning requirements, be it K-12 (school), higher education, or professional development courses..
- “Based on our research, we realized the need to build a complete new lending entity — one that gets all stakeholders (parents, students, institutes, etc.) on the same platform and holds each stakeholder accountable for its role,” says Varun.
22138. [Funding alert] EV startup Etrio raises $3M in Series A round
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Investment in Bharat by Bhartiya companies
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- Edtech startup Codeyoung will use the fresh funds to scale up in international markets, as well as strengthen academics research, technology, and product teams.
- Codeyoung, a Bengaluru-based startup that provides live online coding classes to K12 students, has raised an undisclosed amount in a seed round of funding led by US-based VC firm Guild Capital.
- The raised funds will be used by the edtech startup to scale up in international markets, as well as strengthen academics research, technology, and product teams.
22139. This SaaS startup is helping 3M SMBs open their mobile ecommerce ‘Dukaans’
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Startups in Bharat
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- Founded in May 2020, Bengaluru SaaS startup Dukaan is helping SMBs across Tier III cities open mobile-first ecommerce sites on its platform.
- Founded by Suumit Shah, Subhash Choudhary, Anurag Meena, and Kaustub Pandey, Dukaan allows anyone to set up an ecommerce website on its platform within 30 seconds of using its app.
- "Dukaan was kind of a hackathon project for me. But, seeing this massive response from the sellers made me believe that Dukaan was a once in a lifetime opportunity to build something which could actually impact the lives of millions of people positively," says Suumit.
22140. [Funding alert] Edtech startup Codeyoung raises seed round from Guild Capital
Make in India / Atmanirbhar
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Investment in Bharat by Bhartiya companies
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India
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- Edtech startup Codeyoung will use the fresh funds to scale up in international markets, as well as strengthen academics research, technology, and product teams.
- Codeyoung, a Bengaluru-based startup that provides live online coding classes to K12 students, has raised an undisclosed amount in a seed round of funding led by US-based VC firm Guild Capital.
- The raised funds will be used by the edtech startup to scale up in international markets, as well as strengthen academics research, technology, and product teams.