Listed below are some of the major news of the startup sector, take a look to stay updated:
Google-backed Dunzo to foray into bike sharing with the existing fleet
Task management app Dunzo is looking to explore bike-sharing services in the coming months. The Bengaluru-based startup plans to leverage its existing fleet of bikers for pick and drop service.
The hyperlocal app backed by tech giant Google and Blume Venture also plans to work with the government to operate at large scale. If the plan fructifies, it will compete with existing players in this space such as UberMoto, Ola, Rapido, including others.
Kochi-based startup PLiNG raises Rs 1.3 crore in equity funding
The Kochi-based startup sells PLiNG brand of banana and cassava crisps and had recently raised 1.3 crores in equity funding.
PLiNG started in 2016 by serial entrepreneur Andrine Mendez is the first FMCG startup in Kerala to receive angel-funding.
PLiNG aims to be India’s favourite homegrown brand that provides alternate snacking options. It also targets being the first global food brand from Kerala, with plans to venture into the European and Gulf-food markets in this year itself.
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Healthcare data analytics startup Innovaccer raises $25M
Innovaccer, a healthcare data analytics startup has raised its total funding to $41 million, with the recent $25 Mn Series B investment. The round was led by Westbridge Capital with participation from Lightspeed Ventures.
Innovaccer plans to use the latest funds to continue building on its industry-leading suite and go-to-market capabilities. This includes enhancing its data platform by doubling down on its machine learning capabilities and adding to its already industry-leading 200+ connectors to healthcare data systems.
Nykaa raises Rs 1.65 billion in series D funding
Beauty retailer Nykaa has closed its series D investment round of Rs 1.65 billion. This includes both primary investment and secondary exit of some early-stage investors. The funding will help to fund growth capital as well as expand the retail footprint of the brand.
For the financial year 2017-18, Nykaa reported a net revenue of Rs 5.70 billion as compared to Rs 2.14 billion in FY17. The company expects to be profitable in FY19.
Launched in 2012 the retailer currently offers over 850 brands and 100,000 products. It has brought international brands into their portal.
Today’s Take Away:
Fear is a constant factor in the life of an entrepreneur – the fear of failure, the fear of criticism. But it is important to not bow down to this pressure and fear but to believe in one’s capabilities and ideas.
As Jake Nickell, co-founder, Threadless rightly points out,
“Don’t make decisions based on fear.”
