Listed below are some of the major news of the startup sector, take a look to stay updated:
Edureka raises $2 million from Leo Capital India
Online education startup Edureka has raised $2 million in its first round of funding from venture fund Leo Capital India as it seeks to achieve growth targets and bring senior leadership on board, the company said on Thursday.
Till now, the Bengaluru-based startup was run on the ₹1.5 crore infused by its founders at inception.
Edureka plans to utilize the funds to increase revenues by six times in the next three years.
Clean-tech startup ZunRoof raises Rs 1.66 cr in angel funding
Clean-tech startup ZunRoof said that it has raised a second round of angel funding of Rs 1.66cr ($0.25mn) from i3N (led by Pradeep Tharakan, Sr. Energy Specialist at ADB and Vismay Sharma, MD, L’Oreal, UK & Ireland), Paipal Ventures’ Ajith Pai, Gaurav Gupta, Asia Director, Dalbergr and a bunch of IIT Kharagpur alumni based in US.
The company had raised an undisclosed first round in December 2016 from executives from Facebook, Morgan Stanley and FICO.
ZunRoof is a clean-tech company, using a mix of image processing, virtual reality, internet of things and data analytics. It uses using un-utilised rooftops for solar power.
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CRM startup Hashtag Loyalty raises funds
Customer relationship management (CRM) and automation startup Hashtag Loyalty has raised an undisclosed amount in a Seed funding round from New York-and Delhi-based seed stage-focused investor Ahimsa Capital.
The startup had previously raised funding in a pre-seed round in August 2016 from another seed-stage investor thinQbate.
Mumbai-headquartered Hashtag Loyalty was launched in May 2015 by Dhruv Dewan, Karan Chechani, and Krishi Fagwani.
Hero MotoCorp creates a startup for innovation
In an attempt to retain its iron grip on the domestic two-wheeler market, Hero MotoCorp has created a startup within the organisation to promote innovation and disruptive thinking.
The Delhi-based company which is India’s largest two-wheeler maker has set up HeroHatch, ‘an incubation center that aims to foster innovation from within the organisation’, Chairman and Managing Director, Pawan Munjal said in his address to the shareholders of Hero MotoCorp in the annual report.
Today’s Take Away:
Entrepreneurs often wonder how to work towards making a product that would be a hit among many.
Brian Chesky, Airbnb, says,
“Build something 100 people love, not something 1 million people kind of like.”
