Startup news and updates: Daily roundup (September 30, 2024)
YourStory presents the daily news roundup from the Indian startup ecosystem and beyond. Here's the roundup for Monday, September 30, 2024.
Funding news
ThinKuvate closes India fund at Rs 25 Cr
Singapore-based angel investment platform ThinKuvate closed its India fund at Rs 25 crore in the first 100 days of its launch.
The platform plans to invest in 30 – 40 early-stage startups from seed to Series A, with an average investment size of Rs 1.5 crore - Rs 4 crore.
It has already invested in four startups, including Rosh.ai, Zippee, Pantherun, and NymbleUp, the company said in a statement.
ThinKuvate Team
LISSUN raises $2.5M in a pre-Series A round
Mental health platform LISSUN raised $2.5 million in a pre-Series A round led by RPSG Capital Ventures, with participation from Multiply Ventures and Atrium Angels, and existing investors Ivycap Ventures, Rainmatter, and Sucseed Ventures.
The startup will use the funds to expand its services, enhance technology, grow its team, and increase its reach. it said in a statement.
LISSUN employs psychologists, special educators, speech therapists, occupational therapists, and behavioural therapists, and collaborates with healthcare, corporate, and educational institutions, delivering integrated solutions to address high-stress challenges like chronic illnesses, exam anxiety, and workplace pressure.
Team LISSUN
Digilogic Systems India raises funds led by Negen Capital
Digilogic Systems India, a defence and aerospace testing solutions company, raised undisclosed funds led by Negen Capital.
This investment is set to fuel Digilogic’s growth, and the company plans to utilise the capital to enhance its R&D capabilities and deliver advanced testing solutions to its customers in the defence and aerospace sectors, it said in a statement.
“India’s local defence ecosystem is set for multiple years of expansion ahead. Digilogic has been bootstrapped and grown to this level. We believe Digilogic’s testing solutions for defence and aerospace is a good area for us to be in for the foreseeable future,” said Neil Bahal, Founder of Negen Capital.
Other News
Routes2Roots partners with Tata ClassEdge
Tata ClassEdge (TCE), a subsidiary of Tata Industries, partnered with Deli-based NGO Routes2Roots (R2R) to integrate TCE’s proprietary educational content into R2R’s Interactive Flat Panels in schools where the NGO operates.
The partnership will enhance Routes2Roots digitised classroom through Tata ClassEdge’s features, including 3D animations, gesture-controlled whiteboards, and in-class games, enhancing the learning experience for students, especially in remote and underserved areas across India.
Tata ClassEdge will also equip teachers with tools to deliver interactive and engaging lessons to transform the classroom experience.
Eximius Ventures, WeWork Labs launch The Pre-Seed Playbook
Eximius Ventures partnered with WeWork Labs to launch The Pre-Seed Playbook: A Guide to Raising Pre-Seed Funding in India on Monday.
The comprehensive resource focuses on pre-seed funding in India and will address the challenges early-stage founders face while securing initial funding to bring their ideas to life. The playbook offers valuable insights into navigating the evolving pre-seed landscape, where smaller cheque sizes, drip capital, and backing unconventional founders have become vital.
“Pre-seed is about more than just capital; it’s about providing founders with the right guidance, networks, and resources to build a solid foundation for their startup. This guide is our effort to support India’s next wave of entrepreneurs and fuel the country’s entrepreneurial ecosystem from the ground up,” said Pearl Agarwal, Founder and Managing Partner of Eximius Ventures.
The playbook will be available as a free eBook on the Eximius Ventures website, with paperback copies distributed at select WeWork locations across India.
(This article will be updated with the latest news throughout the day.)
Edited by Suman Singh
