Startup news and updates: Daily roundup (May 9, 2024)

Namit Sharma named new CEO of Arre Studio

Digital media company Arre Studio and Arre Voice named Namit Sharma as CEO of its studio business.

Sharma comes to Arre after nearly 25 years in the media and entertainment sector, with stints at companies such as Sony Entertainment Television, Yash Raj Films, and Reliance Entertainment, among others.

"The audience is making sharper choices with every passing day and we hope to deliver entertainment that lives up to expectations in time to come. I am excited about building a content slate for Arré across mediums, platforms and genres with great storytelling and consumer choices at the centre," said Sharma in a press statement.

AI company Tredence names new COO

Tredence on Thursday named Munjay Singh as its new chief operating officer.

Singh, who has held leadership positions at several global companies, will provide strategic vision, leadership, and operational expertise for accelerating organic and inorganic growth strategies, at Tredence.

"Our suite of 100+ AI/ML accelerators delivers unprecedented value to clients, providing a wide array of solutions to boost decision-making and unlock new opportunities," said Singh.

"Additionally, our verticalisation strategy, expert practices, and extensive partner network enable us to solve increasingly complex industry challenges and tailor our capabilities to client needs," he added.

HDFC offers Rs 19.6 Cr in grants to 170 startups, accelerators

HDFC Bank, in partnership with Atal Innovation Mission, named winners of the Rs 19.6 crore worth of grants to 170 startups and 41 incubators.

The focus areas for the 2024 grants include climate innovation, financial inclusion, agriculture and sustainable rural economy, accessible and affordable healthcare, gender diversity, etc.

The grant recipients come from Uttar Pradesh, Tamil Nadu, Karnataka, Delhi, Haryana, etc.

"Through strategic collaborations and targeted investments, we aim to nurture and amplify the impact of innovative social start-ups across key sectors, ultimately contributing to a more sustainable and inclusive future for all," said Nusrat Pathan, Head CSR, HDFC Bank.

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Venturi Partners acquires stake worth $27M in K12 Techno from Navneet Education

Kisanserv to open 250 new stores in Pune, Mumbai

Agritech startup Kisanserv aims to open 250 new retail stores across Mumbai and Pune over the next three years to offer customers high-quality fruits and vegetables at competitive rates.

It has already set up 25 stores in the two cities over 15 months.

"Our mission at Kisanserv is twofold: to provide consumers with affordable, high-quality produce and to support local farmers by ensuring fair prices and direct sourcing," said Niranjan Sharma, Founder and CEO of Kisanserv.

Apart from its retail outlets, customers are also given the option of ordering free home deliveries, within 30 minutes, on the Kisanserv Express app.

A&M appoints new executive director for consumer and retail

Global professional services company Alvarez & Marsal India has named Aparna Chopra as executive director of its retail and consumer products business operation.

Chopra's experience in the consumer and retail sector is backed by 25 years in the industry where she facilitated launches for brands and created pricing strategies for companies such as Nestle, YUM Brands (that houses KFC, Pizza Hut, and Taco Bell), Costa Coffee, and Lenskart.com.

"The Indian consumer is far more discerning today and seeks multiple options to address their health, quality of life, value and innovation needs," said Chopra in a press statement.

"A&M’s integrated platform provides a durable foundation to drive impactful transformations that achieve sustainable growth for Retail and Consumer Product companies," she added.

Clove Dental opens 12 new clinics

Dental health startup Clove Dental has opened 12 new clinics in a single day, reaching a total of 500 clinics, across India.

"Over the past 13 years, we have taken dental care to newer heights by opening clinics in almost 26 cities across the country," said Amarinder Singh, Founder and CEO of Clove Dental.

"Our 500th clinic is a testament to our motto of providing quality dental care adhering to global standards and making India excel in this vertical, with the best of technology, and experts," he added.

Founded in 2011 by Singh, Clove Dental is a network of dental clinics that has over 45,000 monthly patients, and claims to have completed 30 lakh treatments in the last 12 years. It employs over 1,000 dentists across its clinics.

It offers standard operating procedures, standardised pricing, non-commission-based compensation systems, in-clinic audits, peer-to-peer case reviews, and AI-based chair sterilisation systems in India and globally.

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GalaxEye joins hands with IN-SPACe to enhance satellite technology for earth observation

Galaxeye and IN-SPACe have signed a deal aimed at advancing satellite technology for earth observation.

As per the deal, the two companies will collaborate closely on the design, development, and launch of India’s first private earth observation satellite constellation, leveraging GalaxEye's innovative technology and IN-SPACe's facilities and expertise.

The collaboration also encompasses the use of ISRO’s cutting-edge labs and testing facilities for thorough validation of satellite systems pre-launch.

Additionally, both entities will work together on refining data analysis methods and enhancing satellite imagery's effectiveness across various fields like climate monitoring, urban planning, disaster response, and security.

"This initiative will allow us to deploy India’s first privately-led cluster of Earth observation satellites, enhancing our capability to monitor climate patterns, urban development, and natural phenomena with unprecedented precision," said Suyash Singh, Co-founder and CEO of GalaxEye.

Startup hiring in India surges, with 53% of jobs targeting freshers

The startup ecosystem is seeing a significant 14% rise in hiring, according to the latest findings from the foundit Insights Tracker, marking a notable uptick in employment opportunities within India's startup landscape.

This surge in hiring coincides with a 37% increase in the number of new companies, indicating a robust expansion of the startup sector, talent platform foundit said.

"Startups increasingly seek fresh perspectives, with more than half of their job postings targeting newcomers. As the market evolves, young professionals should focus on acquiring relevant skills beyond formal qualifications," said Sekhar Garisa, CEO of foundit.

The IT services sector accounted for 23% of startup jobs in April 2024, up from 20% the previous year.

However, industries such as internet, BFSI/fintech, and media and entertainment experienced a slight decline in hiring.

Conversely, the edtech sector remained stable, reflecting ongoing demand for educational technology solutions.

In terms of job roles, sales positions saw a remarkable uptick, comprising 23% of startup vacancies, compared to 9% in April 2023. Meanwhile, product-related roles also showed improvement, rising from 8% to 9% within the same period, the report showed.

Tata Motors launches ace EV 1000 for last-mile mobility solutions

Commercial vehicle manufacturer Tata Motors has launched a last-mile mobility, zero-emission mini-truck new e-cargo mobility vehicle, Ace EV 1000.

The mini-truck boasts a higher-rated payload of one tonne and a range of 161 kilometres on a single charge.

The Ace EV 1000, developed with extensive inputs from customers, will be used in various sectors such as FMCG, beverages, paints and lubricants, LPG, and dairy.

“With the launch of the Ace EV 1000, we are extending the experience to customers who are looking at solutions with improved operating economics across the varied sectors they service. We are confident that the Ace EV 1000 will contribute to a greener future while delivering superior value and low cost of ownership," said Vinay Pathak, Vice President and Business Head – SCV&PU, Tata Motors Commercial Vehicles.