Listed below are some of the major news of the startup sector, take a look to stay updated:
Smartivity Labs raises $ 2 Million in second pre-series A funding
Smartivity Labs, New Delhi based STEM (Science, Technology, Engineering, (Arts), and Math) toys design startup has raised $2 million from Ashish Kacholia, one of India’s most influential stock market investors and Director-Research at Mumbai-based Lucky Securities.
This round was also participated in by existing Smartivity investors – S Chand Group, AdvantEdge Founders, and Ant Space.
Smartivity Labs was founded in February 2015 by Tushar A Amin, and IIT-Delhi alumni Apoorv Gupta, Rajat Jain and Ashwini Kumar. The company is dedicated to designing, developing and selling STEM educational toys, Blended Learning (technology enabled physical toys) and Tangible Play activities for 3-14-year-old children.
Carmesi to capitalise on India’s under-serviced menstrual hygiene market
Carmesi, a biodegradable sanitary napkin maker, expects an eightfold increase in its revenue for the ongoing financial year, in an underserved feminine hygiene market.
The startup is growing at the rate of 30 percent month-on-month. It expects to boost its revenue to Rs 8 crore by March 2019 from Rs 1 crore at the end of March 2018, according to Founder and Chief Executive Officer Tanvi Johri
Carmesi’s napkins are made from the antibacterial, absorbent and plant-based fibres of corn and bamboo. It offers monthly home delivery service, attractive packaging, and disposable systems.
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Android creator Andy Rubin plans on selling his smartphone startup
Essential Products Inc., a startup co-founded by Android creator Andy Rubin that launched last year to great fanfare, is considering selling itself and has canceled development of a new smartphone, according to people familiar with the matter.
The startup has hired Credit Suisse Group AG to advise on a potential sale and has received interest from at least one suitor, the people said. Essential is now actively shopping itself to potential suitors, one of the people said. The startup, part of Rubin’s incubator Playground Global, has raised about $300 million from several investors, including Amazon.com Inc., Tencent Holdings Ltd., and Redpoint Ventures.
Kerala Startup Mission-backed K-Accelerator announces the first cohort of 14 tech-centric startups
The K-Accelerator programme — a partnership between Kerala Startup Mission and Zone Startups India — has announced its first cohort.
It includes 14 tech-focused startups from Kerala in the sectors of enterprise hardware, health tech, social impact, Augmented Reality and Virtual Reality, Artificial Intelligence, Machine Learning, and robotics. These startups have been identified from a pool of 100 applicants.
K-Accelerator was announced earlier this year when the Kerala government’s nodal agency for startup innovation (Kerala Startup Mission) teamed up with Mumbai-based tech accelerator Zone Startups to offer a three-month acceleration programme for revenue stage startups in the state.
Today’s Take Away:
Creating the right kind of product is essential and the primary step towards a successful business. Everything else should take a backseat till the right kind of product suitable for the market.
As Sam Altman, president of Y Combinator and co-founder of Loopt rightly points out,
“No growth hack, brilliant marketing idea, or sales team can save you long-term if you don’t have a sufficiently good product.”
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