From the search of PB Fintech’s subsidiary by GST Intelligence to Orb Energy achieving significant financing disbursement milestones, StartupSuperb presents today’s headlines that showcase important advancements across various industries.
Featured News
Hulladek Recycling Confronts Doubts in Waste Management
Hulladek Recycling, established in 2014 by Nandan Mall in Kolkata, is tackling India’s escalating e-waste issue. Initially faced with doubts, Mall’s vision has gained traction as awareness regarding sustainability has increased. Key achievements include:
- Processed over 25,000 tonnes of e-waste
- Collected 2,050 tonnes in 2023 alone
- Operates across multiple states including West Bengal, Jharkhand, Maharashtra, Delhi, and Punjab
- Noteworthy collection of 15 tonnes during Diwali 2023
Latest News
Stashfin Introduces Employee Stock Options
Stashfin has issued employee stock option plans (ESOPs) to its staff from a pool of Rs 600 crore. The allocations are as follows:
- Rs 5 lakh for employees with five years of service
- Rs 3 lakh for those with three years of tenure
Riceberg Ventures Launches $20M Fund for Deeptech Startups
Early-stage venture capital firm Riceberg Ventures has unveiled a $20 million fund dedicated to investing in deeptech startups. The fund aims to invest in approximately 25-30 startups with an average investment of $0.5 million. This initiative seeks to address the funding gap in sectors such as:
- Space technology
- Cybersecurity
- Artificial intelligence
- Robotics
Funding News
Tractor Factory Secures $500K in Pre-seed Funding
The pre-owned tractor marketplace Tractor Factory announced on Tuesday that it has raised $500,000 in a pre-seed round led by All In Capital. Additional participation came from:
- Bharat Founders Fund
- Devc
- Dhingra Partners Prosperity Trust (Kirloskar Generators family office)
Moreover, renowned angel investors, including Samir Sood (Venture Highway), Abhishek Goyal (Tracxn), and Aayush Phumbra (Chegg), also participated. The funds raised will be channelled into:
- Expanding market presence
- Enhancing customer experience
- Improving technology
Shailesh Tiwari, the founder of Tractor Factory, stated, “We recognise the challenges faced by mid-income farmers due to limited access to affordable tractors, which contributes to generational poverty. With support from esteemed investors, our goal is to generate ₹1000 crores in revenue over the next three years.”
NeoSapien Secures Rs 80 Lakh Investment from Namita Thapar
Wearable AI startup NeoSapien has acquired Rs 80 lakh from Namita Thapar of Shark Tank fame. The company’s feature, Neo1, integrates AI into everyday life by offering:
- Real-time conversation tracking
- Emotional insights
- Task organisation
- Infinite memory capability
Additionally, discussions are underway with institutional investors both in India and the US for a seed round. The funding will facilitate the launch of initial production batches and bolster research and development. NeoSapien aims to expand globally this year through partnerships with:
- Google AI Academy
- Panasonic Ignition Program
- Deepgram Startup Program
Other News
Orb Energy Achieves Over Rs 300 Crore in Disbursements
Solar energy solutions provider Orb Energy has surpassed Rs 300 crore in financing disbursements from its in-house finance facility aimed at helping SMEs adopt solar energy solutions. Damian Miller, Co-founder and CEO of Orb Energy, commented, “Financing has traditionally been a significant barrier for MSMEs and SMEs in India when adopting solar solutions. At Orb Energy, our tailored financing options facilitate businesses in overcoming upfront cost hurdles with zero collateral and no down payment. This approach not only promotes solar energy adoption but also enhances the operational efficiency and competitiveness of these businesses.” The company intends to disburse an additional Rs 1,000 crore over the next three years to support medium and small enterprises in embracing renewable energy sources.
PB Fintech’s Subsidiary Subject to GST Authority Investigation
PB Fintech announced on Tuesday that the General of GST Intelligence has visited and searched one of its subsidiaries to investigate specific vendors. In a regulatory filing, the parent company of Policy Bazaar confirmed that necessary information has been provided to the officials and that it remains committed to supplying any further information as required.
AiDASH Appoints Amresh Mehra as Director of People and Culture
Enterprise SaaS company AiDASH has appointed Amresh Mehra as its new Director of People and Culture. Mehra previously held prominent leadership roles at Lumen Technologies, MarketStar, and Cvent. Rahul Saxena, CPTO and Co-Founder of AiDASH, noted, “Amresh’s extensive background in talent strategy and workplace culture will be invaluable as we continue to expand and innovate. His vision and experience align seamlessly with AiDASH’s aim to integrate human potential with advanced technology to tackle some of the world’s critical challenges.”
This article will continue to be updated with the latest news throughout the day.
