Listed below are some of the major news of the startup sector, take a look to stay updated:
Fintech startup OYE! Loans receives $ 2.25 Million funding
Noida-headquartered consumer-focussed lending startup OYE! Loans has raised $2.25 Mn seed funding from its parent company, GAIN Credit.
Along with Northern Arc Capital (formerly known as IFMR Capital), its lending partner, the startup intends to use the latest funding to strengthen its underwriting models aimed at new-to-credit consumers, scale-up operations, and enhance its footprint to cover multiple cities.
The company plans on staying focussed on leveraging the digital ecosystem to evolve towards a completely paperless process.
Amazon partners with Lego for interactive building-block game
Jeff Bezos-led Amazon.com, Inc.’s Start Platform has partnered with Danish toy brand Lego Systems Inc. for an interactive, voice-enabled building blocks game, as per media reports.
Children accessing the game will be able to talk to Amazon’s digital assistant Alexa through a storytelling programme as they keep building blocks. Lego said that it was launching the game in the UK and the US.
The report claimed that the company’s move to partner with Alexa was part of Lego CEO Niels B Christiansen ’s strategy to make its product relevant to the new generation of children obsessed with screens and digital interfaces.
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Google.Org announces additional $3 Million to support education and learning efforts in India
In an effort to further support education and learning efforts in India, Google.org, the philanthropic arm of Google, on 3 May announced additional grants of $3 million to two non-profit organisations, Central Square Foundation and The Teacher App.
With online video emerging as a popular medium of learning, Google.org will provide a $2 million grant and technical assistance from the YouTube Learning team to Central Square Foundation, a policy think tank focused on improving the quality of school education.
The grant will support a minimum of 20 content creators to produce at least 200 hours of quality science, technology, engineering and Math content in Hindi and vernacular languages.
Fireside Ventures invests Rs 6 crore in audio product brand boAt
Fireside Ventures, the early-stage consumer brand-focused investment firm, has invested Rs 6 crore in Delhi-based consumer technology lifestyle venture Imagine Marketing, which owns and operates audio product maker boAt.
This is the first round of equity financing raised by the two-year-old boAt, which makes a range of consumer durable audio products, including, earphones, headphones, stereos, travel chargers and premium rugged cables.
BoAt was bootstrapped by its founders till date and will now use the proceeds from its first institutional round of funding, primarily towards marketing and product development.
Today’s Take Away:
Being open to criticism is essential for growth in life. It is very important that we do not get demotivated by those who point out our flaws but wear them on ourselves as armours to protect us from further mistakes.
As Meredith Valiando Rojas CEO and co-founder, DigiTour Media says,
“Mistakes will not end your business. If you are nimble and willing to listen to constructive criticism you can excel by learning and evolving.”
