Startup news and updates: Daily roundup (December 2, 2024)

Funding news

RaptorX secures Rs 4 Cr in pre-seed funding

Fraud prevention software startup RaptorX on Monday said it raised Rs 4 crore in a pre-seed round from PeakXV Spark, EagleWings Ventures, and Point One Capital, among others.

The round also saw participation from Lenskart’s Founder and CEO Peyush Bansal, Boat Co-founder and CMO Aman Gupta, and key angels (SVPs) from Google.

The newly raised funds will be used to build the company’s artificial intelligence and machine learning capabilities for applications in both banking and e-commerce, expand its team and improve integrations with payment gateways, ecommerce platforms and banking systems. It will will also invest in customer onboarding, training, and support.

“This funding allows us to advance RaptorX’s team and capabilities to help businesses uncover unknown fraud patterns, minimize losses, and create trust with their customers. Our mission is to provide a proactive, AI-driven fraud prevention platform that transforms how industries manage risk,” said Pratyusha Vemuri, CEO of RaptorX.

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Candytoy Corporate secures Rs 110 Cr in Series A funding

Other news

Uber rolls out Uber Shikara to pre-book boat rides

Cab aggregator Uber on Monday launched Uber Shikara to help tourists pre-book boat rides on the Dal lake through the Uber mobile app.

The limited-period feature was introduced prior to the upcoming holiday season in Srinagar. Under the feature, the company will not charge any fee on Shikara rides booked through the app and the entire amount will be go to the drivers of these boats.

Each Uber Shikara ride can be booked for a period of 1 hour, allowing up to 4 passengers. Uber Shikara rides can be booked 12 hours prior and up to 15 days in advance.

“At Uber, we are always looking to make mobility magical and effortless. Uber Shikara is our humble attempt to blend technology and tradition to give a seamless experience to travellers for their Shikara ride,” said Prabhjeet Singh, President, Uber India and South Asia.

Dhruva Space launches full-stack space offering AstraView

Space engineering solutions provider Dhruva Space on Monday launched its new commercial satellite imagery service, AstraView.

The new commercial satellite is designed to provide continuous insights into Earth and is a result of strategic partnerships with companies including Array Labs, Axelspace, Capella Space, Geosat, Maxar, Planet, Satellogic, SI Imaging Services, Unseenlabs, and Wyvern.

AstraView will offer a broad range of satellite data, including Electro-Optical, Synthetic-Aperture Radar (SAR), Radio Frequency, and Hyper-Spectral imagery.

“On-demand geospatial data is the need of the hour as life on Earth continues to evolve rapidly. Partnering with leading imagery companies of the world bolsters our technological advantage. We extend our gratitude to our valued partners for their continued support in bringing this service to the global Space market, fostering a spirit of international collaboration and innovation,” said Sanjay Nekkanti, CEO, Dhruva Space.

GreenLine partners with Flipkart for sustainable logistics operations

GreenLine Mobility Solutions on Monday said it has partnered with Walmart-owned ecommerce giant Flipkart to help enhance its sustainable operations in logistics.

Under the partnership, the company will deploy its fleet of liquified natural gas (LNG) trucks to help decarbonise Flipkart’s delivery fleet.

The initial deployment will focus on transporting goods from the western part of the country to the northern states. Future plans will include expansion to additional routes covering north to south and west to south corridors, the company said.

“Ecommerce is transforming lives across India, connecting dreams, needs, and opportunities. Yet, as the sector grows, so does its environmental footprint. At GreenLine, we see this as a call to action. Through our partnership with Flipkart, we are enabling India to go green, one mile at a time. By deploying our LNG-powered fleet, we’re making logistics more sustainable, ensuring that every delivery contributes to a brighter, cleaner future for our nation,” said Anand Mimani, CEO, GreenLine Mobility Solutions.

CARS24 to hire more than 100 tech experts in the next four months

Autotech platform, CARS24, on Monday said it plans to onboard 100 tech experts in the next four months as it targets making car ownership smarter.

The new roles will span across research and development, data science, GenAI, machine learning, amongst others.

CARS24 will be investing Rs 500 crore to advance its technology and product ecosystem.

"At CARS24, technology drives everything we do. It’s in the code we write, the products we build, and the experiences we create for our customers," said Gajendra Jangid, Co-founder of CARS24. "This investment is about pushing boundaries, solving real problems, and shaping the future of mobility through innovation and bold thinking."

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Cars24 bags Rs 250 Cr from Singapore parent company

Yatri Sathi App launches digital ticket booking for WBTC buses in Kolkata

The Transport Department, Government of West Bengal on Monday launched digital bus ticket booking services for buses operated by the WBTC through its Yatri Sathi app.

The new feature, which is available on 12 pilot routes, will cover the entire WBTC network in Kolkata soon.

“The introduction of digital ticketing through Yatri Sathi is a game-changer for public transport in Kolkata. It reflects our ongoing commitment to leverage technology to improve accessibility, simplify travel, and enhance the overall commuter experience,” said Shri Snehasis Chakraborty, Honourable Minister of Transport, Govt of West Bengal.

Retired IIT Professor launches science activity centre

Retired Indian Institute of Technology (IIT) professor, Dr T.S Natarajan and Anuradha Vaidyanathan on Monday launched a science activity centre in Chennai.

The FALLING APPLE, which is located in Adyar, is designed to promote experiential learning through interactive exhibits, workshops, and activities.

“Science is not just about memorizing formulas; it's about asking questions, exploring, and discovering the world around us,” said Dr. Natarajan during the opening ceremony. “This centre is my way of giving back to society and inspiring the next generation of scientists, engineers, and innovators.”

IIT Kanpur gets 579 offers on Day 1 of campus placements

The Indian Institute of Technology (IIT) Kanpur on Monday said that it received 579 offers by end of the first day of its Phase-I placement session.

The institute added industry leaders such as Microsoft, Texas Instruments, Databricks, Google, American Express, among others participants in the placement process.

“The large number of offers from leading companies on Day 1, including a significant number of international placements, highlights the global recognition of IIT Kanpur's academic excellence and the calibre of our students. I would like to commend the efforts of the placement team for their dedication and meticulous planning,” said Prof. Manindra Agrawal, Director of IIT Kanpur.

Blackstone-backed ASK Asset & Wealth Management appoints Dhiren Mehta as CEO

ASK Asset and Wealth Management Group on Monday appointed Dhiren Mehta as the Chief Executive Officer (CEO) and Managing Director (MD) of ASK Financial Holdings.

Mehta has had over three decades of experience and has held leadership roles at instituitional such as Avendus Capital, Kohlberg Kravis Roberts (KKR), Nomura, and Citigroup.

“Dhiren’s deep expertise in structured lending and capital markets, coupled with his risk management acumen, positions him uniquely to lead ASK Finance. His proven ability to navigate complex financial landscapes will help us deliver bespoke and innovative debt solutions, further reinforcing ASK Finance’s leadership in serving HNI and UHNI clientele,” said Rajesh Saluja, Co-founder, CEO and MD of ASK Private Wealth.

Newton School of Technology launches Newton StartX seed fund

Newton School of Technology on Monday launched its StartX seed fund programme to provide students with opportunities to develop solutions during college years.

StartX will provide funding, mentorship, and resources to help students develop technology driven products to tackle real-world problems.

The fund programme, which has a fund size of Rs 1 crore, will start with workshops with industry leaders and fireside chats with each student standing a chance to raise up to Rs 10 lakhs from the fund.

“Young Indians are bursting with energy and ideas to shape the future but lack guidance and resources. At NST, our curriculum is designed to foster and nurture innovation, creative thinking to thrive, experiment, experience and lead. Technology remains the core of everything we do at NST and therefore with the launch of our seed fund programme “StartX” we want to empower students to turn their ideas into user-focused, scalable and impactful solutions,” said Siddharth Maheshwari, Co-founder, Newton School.

Niyogin Appoints Akash Sethi as the new Chief Operating Officer

Fintech firm Niyogin on Monday said it has appointed Akash Sethi as its new Chief Operating Officer, effective December 2.

Prior to joining Niyogin, Sethi had served as an assistant to the founder’s office at Fincent Software Services Private Limited.

The company also transitioned current COO Noorallah Charania to the role of Chief of Staff. Charania will focus on strategic initiatives and provide operational guidance to the company’s CEO.

“We are thrilled to welcome Akash to the Niyogin's leadership team,” said Tashwinder Singh, CEO and MD, Niyogin. “His extensive experience and proven leadership skills will be invaluable as we continue to scale our business and deliver exceptional results for our customers," he added.

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