Parking Spot Reservation Platform ParkSmart raises INR 1.5 CR from ah! Ventures and Marwari Angels

#startups #fundingalert #startupfunding #parking

ParkSmart , a parking spot reservation platform founded by graduates from IIT Delhi, Rahul Gupta, Ratan Anmol Sethi, Rishabh Nagpal, Prateek Garg and Vishva Sharma, has raised INR 1.5 CR through ah! Ventures angel platform. The Marwari Angels also participated in this round. This is ah! Ventures 57th investment taking its total investment portfolio to INR 178 CR with 9 exits till date.

Founded in 2019, ParkSmart allows its customers to search, reserve, and pay for a parking spot through a mobile application. It also provides #IoT based smart parking solutions for malls, hospitals, institutes, corporates, etc.

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Parking Spot Reservation Platform ParkSmart raises INR 1.5 CR from ah! Ventures and Marwari Angels

ParkSmart, a parking spot reservation platform founded by graduates from IIT Delhi has raised INR 1.5 CR through ah! Ventures angel platform. Marwari Angels also participated in this round. This is ah! Ventures 57th investment taking its total investment portfolio to INR 178 CR with 9 exits till date.

Delhi-NCR sees highest number of new startups during January-June, 2020

#startups #startupecosystem #delhincr #startupbangalore #startupmumbai

Delhi-National Capital Region (NCR) has witnessed the highest number of startups being founded in the first six months of this year, on the back of its digital ecosystem, government support and infrastructure, including startup accelerators, incubators and enablers.

Between January and June, 109 startups were founded in Delhi-NCR, followed by 63 in Bengaluru and 44 in Mumbai, according to data by venture capital industry tracker Tracxn. Sectors such as edtech, fintech and enterprise applications saw more traction with several start-ups also repurposing their solutions to offer covid-related solutions.

Startups based out of Bengaluru, however, raised $2,436 million, more than their Delhi ($602 million) and Mumbai ($397 million) counterparts in the first half of the year, data showed. Big-ticket funding deals were in the edtech space with Byju’s leading the pack, valued now at $10.5 billion after raising $100 million Mary Meeker's fund Bond and another $110 million raised by Unacademy from Facebook and General Atlantic.

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Delhi-NCR sees highest number of new startups during January-June

Between January and June, 109 startups were founded in Delhi-NCR, followed by 63 in Bengaluru and 44 in Mumbai, according to data by venture capital industry tracker Tracxn. Sectors such as edtech, fintech and enterprise applications saw more traction with several start-ups also repurposing their solutions to offer covid-related solutions.

Confederation of Indian Industry (CII) sets up centre for startups in Telangana

#startups #cii #deeptech #manufacturing #startuptelangana #startuphyderabad #startupindia

Industry association Confederation of Indian Industry (CII) on Saturday said it has set up a centre in Telangana to help startups to connect with large business houses and corporates. CII Centre for Innovation, Entrepreneurship, and Startups will also focus on deep-tech startups in the manufacturing sector to help create unicorns.

CII Centre for Innovation, Entrepreneurship, and Startups is supported by the Telangana government by way of space at T-Hub technology startup incubator in the city, and Pratiksha, a charitable trust founded by Gopalakrishnan.

Telangana IT Minister K T Rama Rao, who launched the Centre, said, the facility will provide the right mix of entrepreneurial elements mentorship, access to capital and safety net for experimentation that will strengthen the startup ecosystem in not just Telangana, but across India.

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CII sets up centre for startups in Telangana

Industry association CII on Saturday said it has set up a centre in Telangana to help startups to connect with large business houses and corporates. CII Centre for Innovation, Entrepreneurship, and Startups will also focus on deep-tech startups in the manufacturing sector to help create unicorns.

Matrix Moments: Asish Mohapatra's journey from being an investor to building a fintech startup at scale

#buildtolast #buildtosuit #startups #strategy #fintechstartups

In this episode of Matrix Moments, Asish Mohapatra talks with Vikram Vaidyanathan, Managing Director, Matrix Partners India, about his journey of building OfBusiness, and his transition from being an investor at Matrix Partners India to the founder of a fintech startup.

Key takeaways for building big #FinTech startups:-

1. Every commerce company, once it attempts to scale, essentially has to solve for financing. Even Amazon and other big players are realising the potential of installment economy.

2. To be able to make a financing transaction, you need to have different capabilities. And those should be around debt raising (because debt is cheaper than equity), underwriting, and collections.

3. People at the top have to have to speak the exact same language as the customers' requirements.

4. You have to force people to consciously develop a risk mindset, which not many of us do because fundamentally, we are empiricist in nature.

5. Being customer-centric is necessary but it is never sufficient.

6. You need to have technology in your businesses because without that you won't have access or low-cost access.

7. To scale a company, it is also important to have a strong team and a set of founders.

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[Matrix Moments] Asish Mohapatra's journey from being an investor to building a fintech startup at scale

In this episode of Matrix Moments, Asish Mohapatra talks with Vikram Vaidyanathan, Managing Director, Matrix Partners India, about his journey of building OfBusiness, and his transition from being an investor at Matrix Partners India to the founder of a fintech startup.

South Indian startup Soulpage wins government funding to develop alternative to Zoom

#videoconferencing #vocalforlocal #vocalforlocalindia

Libero, a videoconferencing app developed by startup Soulpage under the stewardship of its Chief Technology Officer (CTO) Vamsi Kurama, has won government recognition as an alternative to the popular Zoom app.

The Union Ministry of Electronics and Information Technology had invited startups to find an Indian alternative to Zoom and after several rounds of elimination, Soulpage's Libero was picked as one of the top five from 2,000 applications.

Proud of having won government backing for Libero, Kurama says the app will be more user friendly and convenient. Compared to Zoom, Libero has additional features like ‘white board, meeting notes and noise cancellation, the developer said, adding that it was also more secure. What stands out is that Libero outperformed apps developed by big names such as HCL and Zoho.

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Southern startup Soulpage wins government funding to develop alternative to Zoom

Finalist in a competition run by the Union government, the developer receives Rs 15 lakh from the Ministry of Electronics and Communication. Compared to Zoom, Libero has additional features like 'white board, meeting notes and noise cancellation, the developer said, adding that it was also more secure.

Top 11 Women AI Leaders In India - 2020 - Analytics India Magazine

#women #achievers #womenachievers #ai #artificialintelligence #India

With the second edition of The Rising 2020, Analytics India Magazine unveiled a list of 11 top women leaders in the AI industry for the year 2020.

The following women made it to the 2020 List:-

1. Amarjeet Kaur - Research scientist at Tech Mahindra

2. Apurva Madiraju - Vice President of Swiss Re Business Solutions, Bangalore

3. Bindu Narayan - AI Leader at EY GDS Data and Analytics Practice

4. Chitrita Nath - Digital & Analytics Leader (APAC Region) – Trading & Supply at Royal Dutch Shell

5. Dr Swati Jain - Vice President – Decision Analytics at EXL Analytics (Exl Service India)

6. Harita Gupta - Country Head – India & Global Head Enterprise Business Services at Sutherland

7. Heena Purohit - Senior Product Manager of IBM Watson

8. Jaya Vaidhyanathan - CEO, BCT Digital of Bahwan CyberTek Group

9. Lakshya Sivaramakrishnan - Program Management, Tech Evangelist at Google via Wipro

10. Mamta Aggarwal - Head of Retail Analytics at Accenture Solution

11. Priyanka Telang - WW Architect, Insights and Intelligent Expert Labs at IBM Software Labs

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Top 11 Women AI Leaders In India - 2020 - Analytics India Magazine

With the second edition of The Rising 2020, Analytics India Magazine unveiled a list of 11 top women leaders in the AI industry for the year 2020. Selected based on their demonstrated considerable expertise in the field of data science and AI leadership, in research, innovations, patents, it recognises the outstanding work of these leaders have accomplished in the last year and celebrates these industry's influential trailblazers.

Pune-based Mylab launches 'Compact XL' to automate molecular diagnostic tests for COVID-19

#medtech #diagnostics #startups #India #covid19 #covidtesting #rtpcr

Pune-based molecular diagnostics company, Mylab Discovery Solutions Pvt. Ltd. has launched 'Compact XL' - India's first machine to automate the manual processes of molecular diagnostic tests such as RT-PCR tests for Covid-19. According to an official press release, Compact XL is a compact bench-top machine that will automate lab processes from sample handling to preparing RT-PCR ready tubes. The machine can take input of various sample types such as plasma, tissue, sputum and swab.

Speaking about benefits of this 100 per cent indigenously developed machine, Hasmukh Rawal, Promoter and MD, Mylab Discovery Solutions said, "Compact XL will replace the need of 700 sq ft of cleanroom lab with a 4x3 benchtop machine and reduce the need of 3-4 expert technicians to just one, saving operational costs for labs."

The machine can run 32 samples at a time which can be further increased when machines are connected in a network. Compact XL will be available for pre-ordering starting 13 July 2020.

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Pune-based Mylab launches 'Compact XL' to automate molecular diagnostic tests for COVID-19

Pune (Maharashtra) [India], July 7 (ANI): Pune-based molecular diagnostics company, Mylab Discovery Solutions has launched 'Compact XL' - India's first machine to automate the manual processes of molecular diagnostic tests such as RT-PCR tests for Covid-19.According to an official press release, Compact XL is a compact bench-top machine that will automate lab processes from sample handling to preparing RT-PCR ready tubes.It is a cartridge-based machine and can test multiple samples at the same time.

Startup Mergers & Acquisitions: SaaS Unicorn Freshworks Acquires Pune Based Cloud Platform 'Flint'

#startups #itsystems #enterprisetech #mergersandacquisitions #acquisitions

#SaaS #unicorn Freshworks has acquired Pune-based cloud platform Flint for an undisclosed amount.

Founded by Ankur Gakkhar and Abhishek Pande in 2013, Flint offers an enterprise-grade IT operations system and an intuitively designed dashboard.

Founded by Girish Mathrubootham and Shan Krishnasamy in 2010, Freshworks (previously called Freshdesk) has more than 150K clients across the world and is now looking for an IPO.

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SaaS Unicorn Freshworks Acquires Pune Based Cloud Platform 'Flint'

SaaS unicorn Freshworks has acquired Pune-based cloud platform Flint for an undisclosed amount. Freshworks said that this acquisition will strengthen its IT service management (ITSM) and IT operations management (ITOM) capacity. Founded by Ankur Gakkhar and Abhishek Pande in 2013, Flint offers an enterprise-grade IT operations system and an intuitively designed dashboard.

India: Asteria's A400 Unmanned Aerial System receives DGCA Certification

#drones #civilaviation #dgca #vtvl #uas

Asteria Aerospace announced that it’s flagship multi-rotor product, A400 Unmanned Aerial System (UAS) has been granted provisional certification from India’s statutory body – the Directorate General of Civil Aviation (DGCA). The certification of the A400 is a significant addition to Asteria’s suite of DGCA certified products, adding to the previous certification granted for micro class A200 UAS.

Classed as a mini-sized UAV, the A400 weighs in a little under 3.5kg and is capable of vertical takeoff and landing. The A400 comes with an HD video camera payload, a flight time of 40 minutes, and an operational range of 5km radius, specifications that are ideally suited for the more demanding needs of commercial and enterprise customers. All communication between the A400 and the Ground Control Station is encrypted with the industry-grade AES 128-bit protocol, providing safety and security for the A400 and the necessary flight telemetry data.

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Asteria's A400 Unmanned Aerial System receives DGCA Certification

Asteria Aerospace is pleased to announce that its flagship multi-rotor product, A400 Unmanned Aerial System (UAS) has been granted provisional certification from India's statutory body - the Directorate General of Civil Aviation (DGCA). The certification of the A400 is a significant addition to Asteria's suite of DGCA certified products, adding to the previous certification granted for micro class A200 UAS.

Startup Funding Alert: Pune Based Tech Startup 'GigIndia' Raises Rs 7.3 Cr In Pre-Series A Funding Round

#gigworkers #gigeconomy #fundingalert #startupfunding #startupindia

Pune-based tech startup GigIndia has raised Rs 7.3 crore in pre-Series A funding round led by Incubate Fund India with participation from Beyond Next Ventures.

Founded by Aditya Shirole and Sahil Sharma in 2017, GigIndia is a Pune-based tech startup that helps businesses to scale faster with on-demand curated workforce across India.

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Pune Based Tech Startup 'GigIndia' Raises Rs 7.3 Cr In Pre-Series A Funding Round

Pune-based tech startup GigIndia has raised Rs 7.3 crore in pre-Series A funding round led by Incubate Fund India with participation from Beyond Next Ventures. The funding round also saw the participation from existing angel investors S Ramadorai (former TCS CEO); Ravi Nigam (former MD & Co-founder of Tasty Bite Eatables); Kiran Deshpande (former CEO of Tech Mahindra); and Shashank Deshpande (Co-founder of Clarice Technologies).

YourStory Weekly Funding Roundup: Investments into startups touch $106 million for the week July 6-11, 2020

#startupfunding #weeklyinsights #weeklyroundup

YourStory Media - Weekly funding roundup: Investments into startups touch $106 million during the week July 6-11, 2020

As per YourStory Media, the second week of July has been very eventful for the Indian startup ecosystem with total investments crossing the three figure mark of $100 million after a gap of nearly six weeks. This period also witnessed a leading edtech startup acquiring another upcoming company. The total funding during the second week stood at $106 million which was a 194 percent increase when compared to previous week when it was $36 million.

The following startups have raised the funds during the week July 6-11, 2020:-

1. Zolostays Zolo - US $56 mn

2. JetSynthesys Pvt. Ltd. - Rs 300 Cr

3. Specsmakers - Rs 23 Cr

4. Frontier Markets - $2.25 mn

5. PiggyRide - Rs 14 Cr

6. Blue Sky Analytics - $1.2 mn

7. GigIndia - Rs 7.3 Cr

8. Inspektlabs - $0.6 mn

9. Gobbly - $0.5 mn

10. Chai Waale - Rs 1.75 Cr

11. Brigade Real Estate Accelerator Program (REAP) - Undisclosed

12. NOTO - Undisclosed

13. Green Cure Wellness - Undisclosed

14. Earth EnergyEV - Undisclosed

15. Brainwired (Drakon Innovations Pvt ltd) - Undisclosed

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[Weekly funding roundup] Investments into startups touch $106 million

The second week of July has been very eventful for the Indian startup ecosystem with total investments crossing the three figure mark of $100 million after a gap of nearly six weeks. This period also witnessed a leading edtech startup acquiring another upcoming company.

Inc42 Media: Indian Startup Funding Of The Week [July 6- 11, 2020]

#startupfunding #weeklyroundup #weeklyupdate

Inc42 Media: Indian Startup Funding Of The Week [July 6- 11, 2020]

As per Inc42 Media, the following startups have raised funds during the week July 6-11, 2020:-

1. PolicyBazaar.com ($130 Mn)

2. Zolostays Zolo ($56 Mn)

3. Aye Finance Pvt. Ltd ($16 Mn)

4. Zomentum ($4.1 Mn)

5. Specsmakers ($3 Mn)

6. Frontier Markets ($2.25 Mn)

7. PiggyRide ($1.8 Mn)

8. CARS24 ($1.3 Mn)

9. Securden, Inc ($1.2 Mn)

10. Blue Sky Analytics ($1.2 Mn)

11. payAgri Innovations Pvt Ltd ($600K)

12. Chai Waale ($232K)

13. Decentro (Undisclosed)

14. Brainwired (Drakon Innovations Pvt ltd) (Undisclosed)

12. EdHusk (Undisclosed)

13. TagHive Inc. (Undisclosed)

14. Green Cure Wellness (Undisclosed)

15. Earth EnergyEV (Undisclosed)

16. NOTO (Undisclosed)

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Funding Galore: Indian Startup Funding Of The Week [July 6- 11]

SoftBank has infused an additional $130 Mn in PolicyBazaar's parent company Aye Finance has raised $16 Mn in debt, two weeks after raising $27 Mn in venture capital Freshworks has acquired Pune-based cloud platform Flint for an undisclosed amount We bring to you the latest edition of Funding Galore: Indian Startup Funding Of The Week!

Indian Startup Homefoodi on-boards more than 250 Home Chefs

#darkkitchens #cloudkitchens #startupindia #aatmanirbharbharat #selfreliantindia

Homefoodi , incepted in October 2019, is a Mobile Application for Home Food made by Home Chefs that empowers and connects the society. This Indian startup comes with the aim of making Home-cooked meals accessible to every individual. The company offers a wide range of regional and global cuisines to facilitate eating healthy home-cooked meals. Since the very beginning, there has been a significant increase in the number of Home chefs associated with Homefoodi , it has now touched the 250+ mark.

Homefoodi , co-founded by Narendra Singh Dahiya and Mona Dahiya, is very different from cloud kitchens as their supply ecosystem is 'Home Kitchens' and not 'Commercial Kitchens'. The home-cloud kitchen brand has been very selective and responsible in selecting home chefs. As a practice, the team has visited every home chef to check for food quality, hygiene and cleanliness of their kitchen as well as the packaging standards. All Home Chefs are 100 per cent FSSAI registered.

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Indian Startup Homefoodi on-boards more than 250 Home Chefs

The Made in India Start-Up aims to create self-employment opportunity for one lakh Home Chefs. Homefoodi, incepted in October 2019, is a Mobile Application for Home Food made by Home Chefs that empowers and connects the society. This Indian startup comes with the aim of making Home-cooked meals accessible to every individual.

Startup Funding Alert: Poonawalla, Infy co-founder pile into digital content startup JetSynthesys

#fundingalert #startupfunding #esports #startupindia

JetSynthesys Pvt. Ltd., a digital content and technology platform that is part of the diversified JetLine Group of Companies, has raised Rs 300 crore (approximately $40 million at current exchange rate) in funding.

The capital infusion in Pune-based JetSynthesys has been led by the family offices of Serum Institute of India Pvt. Ltd. chief executive officer Adar Poonawalla and Infosys co-founder Kris Gopalakrishnan.

Other investors in JetSynthesys include the family offices of the promoters of entities such as engineering company Thermax, diversified manufacturer Triveni Group, and the DSP Group. The company operates products and platforms in areas such as gaming, wellness, financial technology, and social entertainment.

It will use the capital it has raised to further develop its suite of digital products and games, as well as strengthen its technological infrastructure in areas such as artificial intelligence, blockchain, augmented and virtual reality, and mixed reality.

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Poonawalla, Infy co-founder pile into digital content startup JetSynthesys

JetSynthesys Pvt. Ltd, a digital content and technology platform that is part of the diversified JetLine Group of Companies, has raised Rs 300 crore (approximately $40 million at current exchange rate) in funding. The capital infusion in Pune-based JetSynthesys has been led by the family offices of Serum Institute of India chief executive officer Adar Poonawalla and Infosys co-founder Kris Gopalakrishnan.

Over 15 Miliion Indians Use WhatsApp Business App Every Month

#business #India #whatsapp #marketing

WhatsApp on Thursday said it has over 50 million users of its business app globally, of which more than 15 million are in India. The Facebook-owned company, which had launched WhatsApp Business in 2018 to facilitate communication between businesses and customers, is also introducing new features like QR codes and catalog sharing to help companies get discovered.

"As businesses across the world prepare to reopen and expand online, people need simple ways to get in touch with them to ask questions, get information, or find something they might like to buy. Today we support more than 50 million WhatsApp Business app users," WhatsApp said in a statement.

It will offer QR codes to businesses globally. Previously when people came across an interesting business, they had to add its WhatsApp number to their contacts, one number at a time. Now, people can scan the QR code a business displays on its storefront, product packaging, or receipt to initiate a chat.

"Scanning a QR code will open a chat with an optional pre-populated message created by the business to start the conversation. With the app's messaging tools, businesses can quickly send information such as their catalog to get the conversation going," it said.

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Over 15 Miliion Indians Use WhatsApp Business App Every Month

WhatsApp's catalogs offering allow businesses to showcase and share the goods or services they offer, which can help them close sales. WhatsApp on Thursday said it has over 50 million users of its business app globally, of which more than 15 million are in India.

Untapped Capital Starvation in Indian MSME Sector a Great Boon for FinTech Startups

#sme #msme #capital #founders #startupindia #startupbharat #aatmanirbharbharat #fintech

With my more than 20 years experience in dealing with thousands of MSME businesses, the reason I have seen for their failure is not lack of talent, market, labour or technology, but starvation due to lack of access to timely and adequate capital.

So FinTech startups in India have huge unimaginable potential and also can do immense yeoman service to our country just by channelising savings and providing timely and adequate finance to MSME sector.

All the best!

Finin: COVID19 Crisis A Great Opportunity for Neo-Banks

#fintech #startups #startupindia #neobanks #challengerbanks #digitalbanks

Finin claims to be India’s first direct consumer digitized bank that eases the customer money management, investment, savings account through digital mode using advanced AI driven technology and payment programs. Suman Gandham, Founder & CEO, Finin – The Future of Banking explains to Techplus Media Group how neo banks are changing wealth management in India.

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Finin: COVID19 Crisis A Great Opportunity for Neo-Banks

Finin claims to be India's first direct consumer digitized bank that eases the customer money management, investment, savings account through digital mode using advanced AI driven technology and payment programs. Suman Gandhan, Founder & CEO, Finin - The Future of Banking explains how neo banks are changing wealth management in India.

Startup Funding Alert: Co-Living Startup Zolostays Raises $56 Mn In Series C Round

#startupfunding #fundingalert #startupindia #cosharing #sharedeconomy #sharedliving #colivingspace

Bengaluru-based co-living startup Zolostays Zolo announced it has raised $56 million in series C round of funding led by INVESTCORP, Nexus Ventures Partners, among others. The total funding raised so far post this round for Zolo is $90 million.

Founded in 2015, by Dr. Nikhil Sikri, Akhil Sikri and Sneha Choudhry, Zolo Stays currently has over 485 properties across ten cities in the country.

The company has partnered with large developers to provide beautiful and exclusive co-living campuses to people near their workplace. Zolo has more than 5 million square feet worth of ‘built to suit’ discussions underway.

The co-living startup will also launch an uber-premium brand extension called Zolo Red Carpet. These micro-living spaces will provide an elite experience which will include wellness studios, all-day in-house cafes, workspaces, exquisite decor, and concierge services.

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[Funding Alert] Co-Living Startup Zolostays Raises $56 Mn In Series C Round

Stay informed and join our daily newsletter now! You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Bengaluru-based co-living startup Zolostays announced it has raised $56 million in series C round of funding led by Investcorp, Nexus Ventures Partners, among others. The total funding raised so far post this round for Zolo is $90 million.

Startup India: Startup funding down 29% in first half of 2020 - Tracxn

#startups #startupstats #funding #H12020 #startupindia

Startup funding dropped by 29% in the first six months of 2020 to $4.2 billlion compared to $5.9 billion in the corresponding period last year, due to the impact of the coronavirus pandemic, according to data by venture capital industry tracker Tracxn.

Only 443 startups were funded in the January-June period this year against 725 in H1, 2019. This year also put the spotlight on certain sectors like alternative lending, payments and test preparation tech and generated a lot of interest and funding from investors, according to Tracxn.

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Startup funding down 29% in first half of 2020: Tracxn

Only 443 startups were funded in the January-June period this year against 725 in H1, 2019. This year also put the spotlight on certain sectors like alternative lending, payments and test preparation tech and generated a lot of interest and funding from investors, according to Tracxn.

Startup Funding Alert: Gurugram-based startup Blue Sky Analytics raises $1.2M led by BEENEXT

#startups #fundingalert #startupfunding #dataanalytics #analytics

Gurugram-based geospatial data intelligence startup Blue Sky Analytics (BSA) has raised a $1.2 million seed funding round, led by BEENEXT Emerging Asia Pte Ltd. Zerodha-backed Rainmatter Capital Private Limited and Stanford Angels & Entrepreneurs also joined the round.

Founded by sibling duo Abhilasha Purwar (CEO) and Kshitij Purwar (CTO) in 2018, Blue Sky Analytics is building AI-powered infrastructure to analyse every pixel on the planet to retrieve the pertaining insights on air quality, water pollution, heat index, flood risk, and more.

By leveraging #satellitedata, #cloudcomputing, and #AI, the startup aims to inform various agents of the market and society with quality, accessible, and democratised environmental data.

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[Funding alert] Gurugram-based startup Blue Sky Analytics raises $1.2M led by BEENEXT

Gurugram-based geospatial data intelligence startup Blue Sky Analytics (BSA) has raised a $1.2 million seed funding round, led by BEENEXT Emerging Asia Pte Ltd. Zerodha-backed Rainmatter Capital Private Limited and Stanford Angels & Entrepreneurs also joined the round. Teruhide Sato, Founder and Managing Partner, BEENEXT, said, "Over the last couple of years, there has been an increased focus on geospatial technology.