Listed below are some of the major news of the startup sector, take a look to stay updated:
Digital payments firm Paytm is all set to invest $5-10 million (about Rs 33.5-67 crore) in Mumbai-based digital lending startup CreditMate in the second round of funding after it first infused an undisclosed sum in late 2017, according to people close to the development.
The startup, which caters mainly to second-hand two-wheeler buyers, has an average loan size of Rs 52,000 and a longer repayment cycle than its peers.
Hey Deedee, a Mumbai-based startup touted as India’s only all-women last-mile logistics services firm, has raised pre-seed funding of $500,000 (Rs 3.3 crore) from early-stage investor Metaform Ventures LLC.
The startup plans to use the funds raised mainly to expand its footprint from four cities to 10 cities this calendar year, it said in a statement. It will also use the money to build technology infrastructure.
Hey Deedee provides logistics solutions to e-commerce companies for their last-mile delivery. It was founded by serial entrepreneur Revathi Roy and Jagdish Gothi.
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Srinagar-based Kashmir Box, an online marketplace for handicrafts, handlooms and local produce, has raised an undisclosed amount in an angel funding round from a clutch of prominent investors.
Kashmir Box will use the funds to expand its base to include 36,000 local artisans and farmers and launch its existing gourmet food brand Koshur in more than 200 selling points across Delhi, Mumbai, Bengaluru, Chennai, and Hyderabad, the statement added.
DigiConnecttTechnologys, an analytics, and AI company has raised $125,000 in seed funding from US-based transport management solutions leader Aspire Logistics LLC.
The Bengaluru-based startup plans to use the funding for technology advancement and to strengthen its product line-up.
A sales analytics and enablement solution that challenges traditional sales methodologies, L Connectt is DigiConnectt’s flagship product.
Adapting to the changing environment is essential for a successful enterprise. Unless one adjusts with the changes, it is impossible to be in the race to be number one.
Jack Welsh, Former CEO of General Electric says,
“Change before you have to.”
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