Startup news and updates: Daily roundup (May 14, 2024)

Funding

Highperformr raises $3.5M in seed funding round led by Venture Highway

GenAI startup Highperformr has raised $3.5 million in a seed funding round led by Venture Highway, with participation from Neon, DeVC, and angel investors. 

The funds will be used for research and development to further develop the startup's native AI capabilities and to build a strong distribution network.

“The large TAM and the incumbents’ pre-GenAI era solutions leave a significant opportunity for Highperformr to innovate and disrupt the social CRM market,” said Priya Mohan, Partner at Venture Highway.

The firm also launched its product, Highperformr for Teams, a social media management platform designed to help B2B businesses maximise their return on investment from social media efforts.

Founded in July 2023 by Ramesh Ravishankar and Srivatsan Venkatesan, Highperformr is headquartered in Delaware, US with offices in India.

Other news

Ippopay Technologies appoints SMN Swamy as Senior Advisor

IppoPay Technologies, a payment infrastructure provider, has appointed former Regional Director of RBI, SMN Swamy, as a Senior Advisor.

This addition aligns with the firm’s objective of ensuring enhanced operations under the guidance of an industry veteran who can help the company refine its strategies, improve its processes, and drive sustainable growth.

Having served as the Regional Director of the Reserve Bank of India in Chennai and Thiruvananthapuram, Swamy brings a wealth of experience to his new position.

Founded in 2020, Ippopay is involved in facilitating digital payments for small-scale merchants, with a particular focus on Tier III/IV cities and rural geographies.

Shiprocket launches Growth Academy; aims to upskill 100,000 MSMEs 

Shiprocket has launched its Growth Academy designed to provide sellers with a learning experience through educational materials and resources, equipping them with the required skill set to navigate the digital commerce landscape.

The academy aims to upskill 100,000 merchants over the next two to three years.

The platform covers crucial aspects such as starting and scaling direct-to-consumer businesses, effective marketing strategies, brand building, and achieving product-market fit. 

It offers a suite of offerings, including courses, tutorials, webinars, podcasts, and expert-led master classes by the leadership of Shiprocket. 

The academy has partnered with leading digital marketing agencies to provide consultation calls to offer sellers expert guidance in performance marketing.

Clover Infotech elevates Harsh Jain as Chief Financial Officer

Clover Infotech has elevated Harsh Jain as its Chief Financial Officer with effect from April 1, 2024. 

In his new role, Jain will oversee the financial operations of the company and play a pivotal role in driving strategic financial initiatives.

Jain brings along more than two decades of experience, knowledge, and expertise in corporate finance. He has assumed leadership roles in renowned organisations such as PwC. He is a chartered accountant and has co-authored a book on indirect taxes. 

“As Clover Infotech accelerates its growth across new technologies and geographies, it will benefit from Harsh’s financial prudence, business acumen, and efforts towards maintaining the highest standards of fiscal responsibility and transparency,” said Kunal Nagarkatti, CEO of Clover Infotech.

Classplus introduces stock appreciation rights for its customers

B2B edtech firm Classplus has introduced stock appreciation rights (SARs) for its customers, vendors, and partners. 

SARs are a form of incentive that gives recipients the benefit of the growth of a company without needing to buy any shares. 

The initiative aims to reward and show appreciation to content creators and educators who have helped the company.

Classplus had announced an ESOP buyback for over 150 employees across roles and business verticals earlier in February.

LemFi announces India services from Canada and UK

Fintech platform LemFi announced that its international payment services are now available from Canada and the United Kingdom to India, and will be available from the US to India later this year.

“With India being the largest recipient of remittances (estimated at $125 billion in 2023) our ambition is to launch our India service from markets like Europe and the Middle East in the future and establish LemFi’s position as the preferred partner for the Indian population living abroad for their cross-border payment requirements,” said Philip Daniel, Head of Global Expansion and India, LemFi. 

LemFi claims it can enable instant payments to be sent to India and 21 other countries.

BizDateUp Technologies acquires 20% stake in Duro Green

BizDateUp Technologies has acquired a 20% stake in Duro Green, an environmental impact startup, marking the former’s strategic move into the green sector.

Founded in 2019, Duro Green provides comprehensive wet waste management services. Its portfolio includes over 350 projects, serving thousands of households and recycling significant amounts of waste.

“With the support of BizDateUp Technologies, our ultimate goal is to set new standards in waste reduction and resource conservation and to inspire other companies to follow suit while contributing to global efforts in combating climate change and promoting sustainable development,” said Nishant Shah, Founder of Duro Green.

BizDateUp is set to collaborate closely with Duro Green to optimise operations, implement automation, and integrate cutting-edge technologies, enabling the environment-impact startup to accelerate its growth plans.

Push Sports appoints Vishal Gaba as Chief Marketing Officer

Push Sports, a sports-tech startup, has appointed Vishal Gaba as its Chief Marketing Officer.

In his new role at Push Sports, Gaba will be at the helm of the brand story for consumers, scaling demand, enhancing consumer engagement, and overseeing marketing initiatives across multiple channels. 

Gaba brings over 16 years of experience across various marketing verticals. He previously worked with Bira 91, where he was leading marketing and communications for the brand.

“With his vast knowledge and skills in marketing and brand development, we anticipate him to play a central role in helping scale the business,” said Puru Singh, Founder and CEO of Push Sports.

Capria Ventures appoints Mobola da-Silva as Partner 

VC firm Capria Ventures has appointed Mobola da-Silva, who joined as a Venture Partner in February last year, as Partner.

In her new role, da-Silva will be instrumental in driving Capria’s investment strategy in Africa and contributing towards the firm’s vision and growth ambition across the Global South.

Prior to joining Capria as a Venture Partner in January 2023, da-Silva was a partner at the uMunthu Fund where she invested in technology-enabled businesses. During her time at Alitheia Capital, she channelled smart capital into key growth sectors.

“Over the last year, Mobola has brought a wealth of experience in early-stage investing to the Capria team. Her expertise in the African market has proven to be invaluable to our portfolio companies across emerging markets,” said Susana Garcia-Robles, Managing Partner, Capria Ventures.

(The copy will be updated with the latest news throughout the day)