Listed below are some of the major news of the startup sector, take a look to stay updated:
The smart electric two-wheeler startup, Ather Energy, announced it has signed an agreement with Sanmina Corporation, a leading integrated manufacturing solutions company headquartered in San Jose, California, to develop and manufacture key components designed by Ather for its maiden scooter – the Ather S340.
As per the agreement, Sanmina will exclusively manufacture Ather’s charging system, battery management systems, and dashboard at its state-of-the-art manufacturing facility in Chennai, India.
In a fresh addition to its portfolio, content sharing platform SHAREit has acquired South Indian movie app Fastfilmz.
After the acquisition, Karam Malhotra, the founder of Fastfilmz, will join as the CEO of SHAREit India. SHAREit expects to expand its content catalogue and increase its regional user base in India with Fastfilmz.
SHAREit expects to drive strong user growth and quality community engagement with the help of Fastfilmz. The acquisition will also help SHAREit achieve its vision to become a one-stop entertainment solution by combining content, technology, and distribution in an interesting and inimitable manner.
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Earthfood, a Pune-based startup that farms and retails residue-free fruits and vegetables, has raised Rs 6.4 crore in seed funding from Rairah Corporation for a 30% stake for post-money valuation of nearly Rs 28 crore.
The company’s founder Nilesh Palresha, executive director of VTP Group, said they have nearly 200 acres under cultivation outside Pune and currently supply 10 tonnes per month to Pune retailers and individual buyers who can order online.
As a post-funding deal, Rairah’s chairman Siddharth Khinvasara has joined Earthfood as a co-founder, where he will oversee sales and day to day operations. The deal also includes usage of Rairah Corporation’s 40 acres in Talegoan used for fruit cultivation.
Artificial intelligence startup Avaamo has raised $14.2 million (about Rs 95 crore) in a series-A round of funding led by Intel Capital. Ericsson Ventures, Mahindra Partners, Wipro Ventures and WI Harper also participated in the round.
The Los Altos, California, and Bengaluru-based company, which specialises in conversational interfaces to solve specific enterprise problems, plans to use the funding to expand its sales and marketing. With this fundraising, the company has, so far, raised $23.5 million.
We are often told that the main thing for being a successful entrepreneur is to dream big. Undoubtedly, it is very important to dream big and reach for the stars. But it is also important to work on those dreams.
Thus, Kathryn Minshew, the CEO, and co-founder of The Muse, a career-development platform, has rightly said,
“Thinking big is only one part of being a successful entrepreneur.”
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