Daily Startup Insights: January 6, 2025 Highlights

Recent updates in the venture capital landscape and the launch of new startups shed light on important changes across various sectors. Businesses are harnessing technology and strategic leadership to meet shifting market needs and discover new possibilities. Below is a summary of the most significant stories:

Featured Stories

upGrad’s Mayank Kumar and OYO’s Ayush Mathur Launch Talent Mobility Platform

Co-founders Mayank Kumar from upGrad and Ayush Mathur, an early contributor at hospitality and travel-tech company OYO, have teamed up to establish BorderPlus. This innovative platform is designed to connect blue-collar workers with global job opportunities, aiming to address workforce shortages and enhance access for employees from emerging markets like India. Initially focusing on Germany’s healthcare sector, BorderPlus plans to diversify into other fields such as hospitality, retail, teaching, and more in the near future. This venture reunites Kumar and Mathur after over ten years since their collaboration at Parthenon Group.

Accel Launches New Fund to Support Early Stage Startup Growth

Venture capital firm Accel has announced its eighth fund, dedicated to India, allocating $650 million to invest in early stage startups. This fund will target companies involved in Enterprise AI, software services, and consumer as well as wealth management sectors. Notably, this launch occurs during a period where early-stage funding has lagged in comparison to growth-stage and late-stage investments.

TSAW Drones is Transforming the Future of Logistics

Founded in 2019 by Kishan Tiwari and Rimanshu Pandey, TSAW Drones provides on-demand parcel delivery services across sectors such as healthcare, e-commerce, and quick commerce. The startup offers various drone models tailored to different payload capacities, focusing on the transportation of medical supplies, food, and other goods. Over the next three years, TSAW Drones intends to extend its drone hub network, enhancing connectivity among hubs.

Funding News

Consint.AI Secures Rs 5 Cr Seed Round from Equanimity Ventures and Seafund

Gen-AI-driven healthcare startup Consint.AI has successfully raised Rs 5 crore in seed funding, led by Equanimity Ventures and Seafund. The newly acquired capital will enhance product development, expand sales efforts, and foster the creation of advanced Gen-AI functionalities. “At Consint, we are pioneering GenAI-driven platforms like CIPHR.ai and Risk.ai to tackle intricate challenges in healthcare transactions and personalised care. Our priority is to advance our Generative AI capabilities to inspire innovation and empower businesses globally in achieving seamless operations and value-based care. This funding propels our mission to spearhead AI-powered healthcare transformation,” stated Ashish Chaturvedi, Founder and CEO of Consint.

Spintly Raises Rs 3.5 Cr from Spyre VC

Spintly, a provider of smart building solutions, has raised Rs 3.5 crore in funding led by Spyre VC. This investment will facilitate the company’s growth, enhance senior management positions, and expand the capabilities of its smart building solutions via AI and machine learning applications. The funding round also saw participation from Accel India, Chakra Growth Fund, Alumni Ventures, and Doctor Technology according to Spyre VC’s statement.

Other News

Ranjan Pai’s Family Office Appoints Dr Shravan Subramanyam to Head Medical Technology Platform

Claypond Capital, the family investment office of Ranjan Pai, has appointed Dr Shravan Subramanyam as the leader of its medical technology platform. Formerly the Managing Director at Wipro-GE Healthcare, Dr Subramanyam will oversee the strategy and execution of the platform, which focuses on medical equipment and digital solutions for both domestic and export markets. “The next decade promises significant advancements in medical innovation and the integration of various technologies, especially digital solutions. I am eager to collaborate with med-tech firms on behalf of Claypond to enhance their footprint in South Asia and globally,” remarked Dr Subramanyam.

Launch of Odisha Yatri App by Chief Minister of Odisha

Odisha Chief Minister Shri Mohan Charan has launched the Odisha Yatri mobility platform. This initiative is a collaboration between the state government, Odisha State Road Transport Corporation, Capital Region Urban Transport, and Moving Tech, the parent firm of the ride-hailing service, Namma Yatri. The platform, now operational on the Open Network for Digital Commerce (ONDC), seeks to offer drivers a direct-payment model with zero commission. Odisha Yatri is poised to expand its services to include public transport booking, real-time tracking, and ticketing for tourist attractions, with new features expected to coincide with major events like Pravasi Bharatiya Divas in Bhubaneswar this month.

Honasa Consumer Appoints Lokesh Chhaparwal as Senior Vice President, Technology and Engineering

Honasa Consumer, the parent company of Mamaearth, has appointed Lokesh Chhaparwal as its Senior Vice President of Technology and Engineering. In this capacity, Chhaparwal will oversee the company’s tech strategy and focus on integrating cutting-edge technological solutions to support Honasa’s expanding customer base. “As we innovate and evolve, technology will be pivotal in shaping the future of the BPC industry. Lokesh’s extensive experience in data-driven customer engagement and optimising business operations makes him a valuable addition to our leadership team,” commented Varun Alagh, Co-founder and CEO of Honasa Consumer.

Wardwizard Innovations & Mobility Signs MoU with C4V for Battery Technology Development

Electric vehicle manufacturer Wardwizard Innovations & Mobility has signed a memorandum of understanding (MoU) with New York-based C4V, which specialises in lithium-ion battery technology. This partnership aims to develop advanced battery cells tailored to meet the specific performance needs of Wardwizard’s EV portfolio. Furthermore, both companies will collaborate to define product specifications, develop prototypes, and undertake thorough testing processes.

Page Industries Appoints Karthik Yathindra as CEO

Page Industries, a leading brand in innerwear and athleisure, has appointed Karthik Yathindra as its new CEO, effective from April 1st, 2025. Yathindra has held multiple leadership roles within the company, managing Sales, Retail, Product, Marketing, and Supply Chain. “We are excited to welcome Karthik as our new CEO,” expressed Ganesh V S, Managing Director of Page Industries Ltd. “Having worked closely with him for many years, I am confident that his leadership will further strengthen our industry position and help us achieve our strategic objectives.”

Kati Patang Expands into the UK Market with ChadKP Holdings Stake Acquisition

Kati Patang, a premium beer brand, has announced the acquisition of a 23% stake in ChadKP Holdings, marking its entry into the UK market. The transaction, conducted through its UK subsidiary, aligns with the company’s goal to broaden its international reach. Additionally, Kati Patang has established a three-year licensing agreement to brew its gluten-free Saffron Lager at Chadlington Brewery, which is operated by ChadKP Holdings. “We are excited to embark on this venture with Chadlington Brewery and The Tite Inn Chadlington,” stated Shantanu Upadhyay, Executive Director of Kati Patang. “This partnership reflects our commitment to quality, innovation, and community-oriented growth. Together, we aim to create a strong presence in the UK and Europe, offering a distinctive blend of Indian craftsmanship and British brewing traditions.”