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Covrzy logo with a shield and lock icon, alongside a smiling man in a light shirt, representing Covrzy's commitment to secure and innovative insurance solutions.

Insurtech Startup Covrzy Secures IRDAI Broking License

Covrzy, has received a direct broking license from the Insurance Regulatory and Development Authority of India (IRDAI). This significant milestone allows Covrzy to offer comprehensive business insurance solutions, enhancing its credibility and market reach. Covrzy's platform aims to simplify the insurance buying journey for startups and SMEs/MSMEs, addressing India's under-penetrated business insurance market. Co-founded by Ankit Kamra and Veera Thota in 2023, Covrzy has already onboarded over 500 clients and collaborated with top insurers like ICICI Lombard and Bajaj Allianz. The startup aims to support 10,000+ customers in the next 12-18 months, driving insurance penetration among Indian businesses.

By
Anurag Trivedi
A group of dignitaries and officials from T-Hub and BEYOND4 are seen standing together in a conference room, holding signed documents to mark the signing of a Memorandum of Understanding (MoU). The T-Hub and BEYOND4 logos are displayed prominently in the background.

T-Hub and BEYOND4 Sign MoU to Boost India-Malaysia Startup Collaboration

T-Hub, India’s leading innovation ecosystem, has signed a Memorandum of Understanding (MoU) with BEYOND4, a Malaysian accelerator ecosystem, facilitated by the Indian ASEAN Startup Summit (IASS). This partnership will benefit startups in India and Malaysia by focusing on five key areas: cross-border collaboration, investment facilitation, business expansion support, innovation promotion, and knowledge exchange. Key dignitaries, including S T Rubaneswaran of BEYOND4 and Mahankali Srinivas Rao (MSR) of T-Hub, emphasized the importance of this collaboration in driving innovation and supporting startups in scaling globally. This partnership aligns with global efforts, similar to the EU Horizon 2020 initiative and Singapore-Germany collaboration, to develop thriving startup ecosystems.

By
Anurag Trivedi
Banner featuring a night scene with a futuristic rocket standing tall on the left, under a star-filled sky. The middle of the banner shows the logos of AkashaLabdhi and SpaceX prominently displayed against the dark backdrop. The right side of the image transitions into an expansive view of the cosmos, including a visible planet and the Milky Way galaxy, symbolizing the boundless possibilities of space exploration. The lower right corner of the banner features a subtle curl, giving a sense of a page being turned.

AkashaLabdhi to Launch Expandable Space Habitats with SpaceX by 2027

India's space technology is advancing with Bengaluru-based startup AkashaLabdhi, planning to launch "expandable space habitats" by 2027. Incubated at IIT Roorkee, AkashaLabdhi is developing these habitats for space tourists, astronauts, and researchers, emphasizing sustainable space living. The core project, Antariksh HAB, features an expandable shell for protection against orbital debris and radiation. It supports microgravity experiments, satellite maintenance, and long-term lunar exploration. CEO Siddarth Jena stated the habitat will take seven days to fully inflate in orbit. AkashaLabdhi is negotiating with SpaceX for a launch slot, highlighting India's technological prowess and potential for global space collaborations.

By
Anurag Trivedi
Logos of the Indian Institute of Technology Kanpur (IIT Kanpur) and the Association of Southeast Asian Nations (ASEAN) with a handshake icon between them, symbolizing a collaboration. The background is divided into two shades of blue, enhancing the partnership theme.

IIT-Kanpur and ASEAN Forum Partner to Boost Startup Growth in SE Asia

In a significant move to strengthen the startup landscape across ASEAN nations, the Foundation for Innovation and Research Support (F.I.R.S.T) at IIT-Kanpur signed a Memorandum of Understanding (MoU) with the ASEAN Economic Forum. The signing ceremony occurred at the India-ASEAN ScaleHub Programme 2024 in Bali, Indonesia. This collaboration aims to enhance technology access, market opportunities, and business connections for startups in ASEAN countries. Funded by the Indian government through the ASEAN-India Science and Technology Development Fund, the India-ASEAN ScaleHub Programme is supported by the Department of Science and Technology and Ministry of External Affairs. It promotes India-ASEAN partnerships through innovation-driven activities, fostering economic ties, and sustainable development. The event gathered senior stakeholders and 40 startups, providing resources, mentorship, and opportunities for business expansion across ASEAN markets.

By
Anurag Trivedi
Illustrated banner for Bengaluru India Nano 2024, featuring a river flowing through a forest of trees on a hexagonal patterned ground. Text labels 'Climate,' 'Energy,' and 'Healthcare' appear at the top, while event details 'August 1st-3rd, The Lalit, Bengaluru' are displayed on the right side alongside the event logo.

Innovative Nanotech Startups to Pitch at Bengaluru India Nano 2024

Bengaluru India Nano aims to highlight the most innovative startups in Nanoscience and Nanotechnology. During the 13th event, these startups will present pioneering concepts, emphasizing Nanotechnology's crucial role in their products or services. This platform allows startups to showcase their ideas to industry leaders, research experts, policymakers, venture capitalists, and global startups. With over 700 delegates representing international organizations, the event offers invaluable exposure. The BIN-2024 Conference committee manages the selection process. Startups will connect with leading experts, mentors, top corporations, and investors. Eligible startups must be registered in India and less than 10 years old. Applications close on July 10, 2024.

By
Anurag Trivedi
Unacademy founder Gaurav Munjal in front of the Unacademy logo, addressing recent company developments and future growth plans.

Unacademy Founder Assures Growth Amid Layoffs

After Unacademy laid off 250 employees, founder Gaurav Munjal reassured stakeholders on X, emphasizing the edtech company's projected growth and profitability. He refuted merger or sale rumors, focusing on long-term vision despite a challenging funding environment. The workforce has reduced from over 6,000 to under 2,000 due to restructuring efforts aimed at achieving sustainable growth. Munjal's clarifications followed a report suggesting Unacademy was seeking a merger or bailout. Support from business leaders like Ola's Bhavish Aggarwal and Oyo's Ritesh Agarwal reinforced Munjal's message. Founded in 2015, Unacademy has raised $877 million, last valued at $3.4 billion, focusing on profitability amid tough market conditions.

By
Anurag Trivedi
Illustration of Koo's mascot, a small yellow bird, standing in a spotlight on a dark stage, flanked by two brick walls. The word 'Koo' appears prominently above a red 'Shutdown' sign hanging next to the bird, symbolizing the closure of the Indian social media platform.

Twitter Rival Platform Koo Shuts Down After Failed Acquisition Talks

Indian social media platform Koo, which aimed to rival Elon Musk's X, is shutting down after failed acquisition talks with Dailyhunt. Despite raising over $60 million from investors like Accel and Tiger Global, Koo struggled to expand its user base and generate revenue. The founders, Aprameya Radhakrishna and Mayank Bidawatka, mentioned in a LinkedIn post that multiple partnership discussions did not yield the desired results. Koo initially gained traction by offering a platform for Indian users to express themselves in local languages during a period of conflict between Twitter and the Indian government. However, a prolonged funding winter forced the company to cease operations, highlighting the challenges faced by Indian startups in competing with established American social media giants.

By
Anurag Trivedi
The image shows the founders and key members of the Thane-based healthtech startup Watch Your Health. They are standing in a professional setting, dressed in business attire. The company logo, featuring an apple and a running person, is displayed prominently above them. To the left, there is an illustration of a first aid kit emerging from a smartphone with the text "Care is on the way," symbolizing the company's mission to provide accessible and personalized health management solutions through technology.

Thane's Watch Your Health Secures $5M Series A Funding

Thane-based healthtech startup Watch Your Health has raised $5 million in a Series A funding round led by Cornerstone Ventures and Conquest Global. Founded in 2015 by Ratheesh Nair, Abhitosh Pandey, Jay Patel, and Prachi Shinde, the startup helps insurers and pharmaceutical companies enhance customer engagement using advanced analytics for personalized health recommendations. The funds will be used to scale operations, expand the user base, and enhance technological infrastructure. Watch Your Health aims to introduce electronic behavior records, mental health support, predictive analytics for disease prevention, and chronic disease management. The startup has established partnerships with healthcare providers like Watania Takaful and Shalina Healthcare, competing with HealthifyMe, GOQii, and others.

By
Anurag Trivedi
The image features a promotional banner for Wify, a home furnishing installation startup. The background is a vibrant lime green, and prominently displayed in the center is the company's logo "Wify" in white with a decorative flourish under the "f." On the right side of the image, there are two individuals, presumably co-founders, wearing black polo shirts with the Wify logo. They are smiling and appear confident. Additionally, there are illustrations of two potted plants in the bottom left corner, adding a touch of nature to the design. The overall composition highlights the brand's friendly and professional image.

Wify Secures $5M in Pre-Series A for Home Furnishing Expansion

Home furnishing startup Wify recently closed its Pre-Series A funding round, garnering INR 40 Cr (approximately $5 million). The funding, conducted in two tranches, saw initial investors like Blume Founders Fund and Singularity Ventures, and later additions from Mount Judi Ventures and Capria Ventures. This financial boost will enable Wify to expand its product offerings, introduce new services, and strengthen its technology framework.

By
Anurag Trivedi
Three founders of Fabriclore, Vijay Sharma, Sandeep Sharma, and Anupam Arya, standing in front of the company's logo. The background features a colorful and abstract design, highlighting the fabric sourcing platform.

Fabriclore Raises $1.6M to Expand Tech-Enabled Fabric Sourcing Globally

Jaipur-based Fabriclore has raised $1.6 million in funding led by PeerCapital from Bengaluru and Regal Fabrics from the UAE. This tech-enabled fabric sourcing platform for fashion businesses will use the funds to expand its presence in key markets, including India, the Middle East, Europe, and the USA. The company will invest in technology to streamline operations, enhance customer experience, and scale internationally. Founded in 2016 by Vijay Sharma, Sandeep Sharma, and Anupam Arya, Fabriclore offers a wide portfolio of cotton, viscose, sustainable, and polyester fabrics. With a catalogue of 10,000 SKUs developed by over 550 suppliers, it has onboarded over 200 private labels within 12 months of its B2B pivot. Fabriclore also created the Fabric Experience Studio in Jaipur and plans more in tier-A cities in India and the UAE.

By
Anurag Trivedi
Three men, Jimish Kapadia, Sanjay Sarda, and Sushant Bhasin, in business attire stand in front of a backdrop featuring US dollar bills and the Growth Sense logo, symbolizing their success in securing $600,000 in funding for their startup ecosystem.

Growth Sense Secures $600K Funding from Angels, Micro VCs, Industry Veterans

Growth Sense, an India-based business growth platform, has raised $600,000 in funding led by angel investors, micro VCs, and industry veterans. This funding will help Growth Sense empower small and medium enterprises (SMEs) by providing strategic growth solutions, showcasing investor confidence in its potential. The funds will be used to enhance the platform, expand the team, and scale operations to reach more SMEs. Growth Sense aims to leverage advanced technology and expert insights to help SMEs overcome growth challenges and achieve sustainable success. This strategic move aligns with the company's vision to become a leader in the SME growth sector, driving economic development with valuable resources and support.

By
Anurag Trivedi
The image shows a satellite orbiting Earth with the AWS logo prominently displayed. The satellite is positioned on the right side of the image, while the Earth's curvature and atmosphere dominate the background. The AWS logo, featuring its distinctive orange swoosh, is placed on the left side, partially overlaid on the Earth. The scene highlights the connection between AWS and space technology.

AWS Launches India's First Space Accelerator, Welcomes 24 Innovative Startups

AWS has inaugurated its first space accelerator in India, partnering with ISRO and IN-SPACe to select 24 pioneering startups for a comprehensive 14-week program. This initiative aims to drive innovation in space technology by providing technical expertise, specialized AWS training, and mentorship. The participating startups will benefit from up to $100,000 in AWS credits and support in building scalable solutions using advanced technologies like AI, machine learning, and data analytics. The accelerator will also offer guidance on go-to-market strategies, fundraising, and essential business practices, fostering a robust ecosystem for space tech advancements in India.

By
Anurag Trivedi
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Topic - Startup | Everything Startups