Startup news and updates: Daily roundup (March 29, 2024)

Funding news

Syde Labs raises $2.5M in a funding round led by RTP Global

AI and risk management platform Syde Labs has raised $2.5 million in a funding round led by RTP Global. Picus Capital and marquee angel investors also participated in the round. The company offers solutions to identify security and safety vulnerabilities in enterprise AI systems and prevent them in real-time, helping mitigate cybersecurity attacks and abuse.

Troovy raises Rs 5 Cr in a funding round

FMCG startup Troovy has raised Rs 5 crore in a funding round led by Veltis Capital, Mumbai. The funds will be used to further the startup's presence in the direct-to-consumer space, besides expanding its reach in ecommerce channels and adding to its product portfolio, the company said in a statement.

Enrission India invests in Aviotron Aerospace

Noida-headquartered edtech startup focused on experiential learning for K-12 students, Aviotron Aerospace, has raised Rs 4.96 crore in a pre-Series A round of funding from Enrission India Private Limited, at a post-money valuation of Rs 70 crore. The company will utilise the capital for expansion from working with schools in 15 states to 28 states over the year.

Founded in 2019 by Ch Vaishnav, Ashish Kumawat, Neha Chauhan and Nitin Choyal, Aviotron Aerospace offers learning solutions for K-12 students to build skills in domains such as aerospace, space, drones, meteorology, e-transportation, and design industries.

The startup works directly with schools through a business-to-business model offline, apart from an online direct-to-consumer model to the individual students online, offering their STEAM-based solutions.

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Other news

Bike-taxis industry to drive economic growth with 5.4M jobs by 2030: Study

Bike Taxis could have a massive role to play in easing congestion on roads, as per a new study by KPMG.

Bike-taxis strong adoption by the masses is evident from the growth of 20%+ CAGR witnessed by the industry between 2019 and 2023. The bike-taxi industry faces legitimacy challenges due to the absence of a uniform nationwide policy structure. The recent advisory from MoRTH to all states and union territories to accept and process the application for contract carriage permits for motorcycles should help tackle the subjectivity.

"With close to $4 billion committed to upcoming projects till 2026, ‘on-demand low-cost shared bike-taxis with the ability to operate at efficient speeds and frequency’ will improve user access to metro rails thereby reducing the need for private motorization," said Raghavan Viswanathan, Associate Partner, Automotive and Electric Mobility, KPMG in India.

Atypical Advantage completes 400 workshops to 40,000 workers

Atypical Advantage, a firm specialising in bringing awareness of disabilities to the workplace, has conducted more than 400 sensitisation workshops throughout the country. These workshops have positively impacted 40,000 employees across various industries, the company said in a statement.

Firms like Tata Steel, Indigo Airlines and Marico have actively incorporated these workshops into their organisational development programmes, a list which includes about 75 companies in total, the firm said.

UNICEF partners with IIHMR Delhi, IIT Mumbai to launch health digital courses

UNICEF has partnered with the International Institute of Health Management Research (IIHMR) Delhi, and the Indian Institute of Technology Bombay to launch a comprehensive health course.

This course will equip healthcare professionals, including doctors, nurses, pharmacists, healthcare administrators, and allied health professionals with the skills to support the digital transformation of the healthcare sector, the company said in a statement.

The 10-week course includes nine modules and covers a range of topics crucial to digital health implementation.

Prodigy Finance announces scholarships for students

Fintech firm Prodigy Finance will offer scholarships worth $5,000 each to five students. This initiative aims to bridge the financial gap for exceptional students pursuing higher education abroad, fostering the next generation of global leaders. This scholarship will be granted irrespective of the field of study or financial capability, the company said in a statement.

(The copy was updated for additional information.)