Startup News and Updates: Daily Roundup (July 6, 2023)

Funding

OfficeBanao raises angel investment from India Inc marquee leaders

Gurugram-based OfficeBanao has raised an undisclosed amount of angel investment from Ajit Mohan, Founding CEO, Hotstar, and Former MD, Meta India; Ramesh Nair, a real estate industry veteran; and Apurva Chamaria, Head of Partnership solutions, Startups, and Venture Capital, Google India. 

Following the successful pre-seed funding round of $6 million from Lightspeed in April 2023, workspace interiors platform OfficeBanao is disrupting India's competitive workspace interior market with its end-to-end service. The additional funding will fuel the company’s expansion and solidify its position as a market leader. The funds will be used to further enhance its technology-driven platform, accelerate product development, and expand its workforce.

LUZO raises $250,000 led by 100X.VC and marquee investors

Mumbai-based mobile app Luzo, a curated marketplace for premium salons, spas, and aesthetic clinics, has secured $250,000 in a pre-seed round led by 100X.VC. Angel investors such as Yash Kotak (Founder of Jumper.ai) and Kabir Kulkarni also participated in the funding. 

The B2B2C startup, which previously received funding from 100X.VC as part of the Fund's Class 08 Portfolio, intends to use the capital to onboard additional premium partners in Mumbai, Delhi, and other major cities.

Further, LUZO aims to enhance the user experience and streamline processes by leveraging technology through its app, available for both customers and salon partners. Currently, the app allows customers to make free bookings at 150 premium salons and spas in Mumbai and Pune, downloadable from the Google Play Store and Apple App Store.

Drone manufacturer InsideFPV raises 2.75 cr in seed round

Drone manufacturer insideFPV has secured Rs 2.75 crore in a seed round led by Inflection Point Ventures. The funding will be allocated towards product development, marketing, and research. The company aims to capture the consumer drone market initially, followed by the agricultural and defense sectors in the future.

InsideFPV offers drones priced from Rs 2,800 onwards, catering to various use cases. The company gained attention by being featured on Shark Tank India, becoming the first drone company to appear on the show. With the increasing adoption of drones in India, InsideFPV plans to bridge the affordability gap by offering feature-rich drones at an accessible price point.

Other

Shiprocket gears up for ‘Shiprocket SHIVIR 2023’

Ecommerce enablement platform Shiprocket is launching its flagship event, Shiprocket SHIVIR 2023. The summit aims to unite the ecommerce sector for a day-long event focused on education and the transformation of digital commerce in the country.

The event is in line with Shiprocket’s commitment to empowering MSMEs across India. To be held on August 4 at Pullman Aerocity, New Delhi, Shiprocket SHIVIR 2023 is expected to bring together India's entrepreneurial pioneers, visionaries of Aatmanirbhar Bharat, forward-thinking business owners, and futuristic service providers. Attendees will have the opportunity to participate in engaging discussions, keynote sessions, interactive workshops, and networking opportunities.

PrepInsta promotes Ashish Mishra to Chief Growth Officer

Placement preparation website PrepInsta has promoted Ashish Mishra to the position of Chief Growth Officer. Having been with PrepInsta for the past four years, Ashish started as a content developer in June 2019 and progressed to the role of Content Development Manager in 2021. 

In his new role, Ashish will manage the organic flow of the website and optimise its SEO performance. Leading a team of growth associates and managers, he will work to enhance the user experience and develop innovative ideas for website optimisation. Ashish will also oversee content management and will leverage his expertise in understanding Google algorithms to improve page rankings and increase the website’s visibility in search results.

IndiaPlays strengthens leadership team

IndiaPlays, an online gaming platform, has onboarded Ami Palan as Head of Marketing and Strategy, and Yash Thakkar as Head of Sales to its senior leadership team. 

Palan, previously a Brand and Content Strategist at PlayerzPot Media Pvt Ltd, brings expertise in strategic brand solutions and go-to-market strategies. She will focus on enhancing IndiaPlays' brand presence in the evolving online gaming landscape.

Thakkar, with over eight years of experience, will leverage his strategic acumen to manage sales teams and drive business growth.

TeamLease Edtech launches Digivarsity 

Learning solutions provider TeamLease Edtech has unveiled Digivarsity, an innovative tech-driven platform that seamlessly combines academic learning with real-world experience for higher education learners. 

The platform aims to revolutionise higher education in India by empowering students with the necessary workplace skills and academic knowledge for long-term career success. Digivarsity has already established partnerships with India's top 10 universities and more than 150 prominent employers to offer cutting-edge work-linked degree programs, effectively bridging the gap between education and employment. 

This platform enables students to make informed decisions about their education while gaining practical work experience alongside their college studies.

The company has also partnered with several PSUs for furthering the cause and reach of these Work Integrated Degree Programs;  Board of Apprenticeship Training (BOAT-WR), CSC Academy, Assam Electronics Development Corporation (AMTRON), Govt of Telangana, APSCHE (AP State Council of Higher Education) are some of the PSUs who have partnered with the company.

Toprankers Acquires The Lex Guru

Prominent Indian digital learning platform Toprankers has acquired The Lex Guru in Indore.  The Lex Guru works towards achieving excellence in judicial studies, guided by judges and academicians, offering comprehensive teaching for Judicial Services Examinations. 

This strategic move enhances Toprankers' judiciary preparation and expands its regional offerings. To commemorate this milestone, Toprankers will host the "Judiciary Samwaad" event on July 7 at Geeta Bhawan, AB Road, Indore.

Lab2Land partners with FinBox to disburse Rs 4 Cr digital credit to agri retailers

Hyderabad-based agritech platform Lab2Land has teamed up with credit infrastructure provider FinBox to tackle the credit crunch faced by agri retailers. The partnership aims to provide digital credit amounting to Rs 40 crore to approximately 5,000 agri retailers. 

Lab2Land addresses the challenges of the agricultural value chain, including rising input costs, knowledge gaps, and lack of organised credit, by offering affordable inputs, expert advisory services, and digital credit powered by FinBox.

SMFG India Credit elevates Swaminathan Subramanian as COO

SMFG India Credit Co. Ltd. (formerly Fullerton India Credit Co. Ltd.) has named Swaminathan Subramanian as its new Chief Operating Officer (COO).

Subramanian, previously serving as the Chief People Officer (CPO), will now oversee a range of functions including operations, technology, legal, enterprise services, human resources, and corporate social responsibility (CSR). 

Namma Yatri onboards Kapture to enhance customer experience 

Ride-hailing app Namma Yatri has partnered with Kapture CX, a SaaS-based customer experience platform, to address customer inconveniences across multiple channels. 

Developed in collaboration with the Beckn Foundation and supported by Infosys co-founder Nandan Nilekani, Namma Yatri aims to challenge unfair work practices and high fares imposed by ride-hailing giants. With over 1.1 million users and 68,000 registered drivers, the app emphasises customer centricity and plans to leverage deep customer insights for hyper-personalization and augmented experiences. 

(The copy will be updated throughout the day with the latest news)