🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

Exclusive: Footage from 2020 shows Astra rocket exploding during prelaunch testing

TechCrunchTechCrunch · 1y ago
Exclusive: Footage from 2020 shows Astra rocket exploding during prelaunch testing
Medial

TikTok is expanding its dedicated STEM (science, technology, engineering, and math) feed across Europe, starting in the UK and Ireland. The feed, which was first launched in the US last year, automatically appears alongside users' "For You" and "Following" feeds for those under 18. Users over 18 can enable the feed through the app's settings. The STEM feed includes English-speaking content with auto-translate subtitles. TikTok has also partnered with Common Sense Networks and Poynter to assess the content's appropriateness and reliability. This move is part of TikTok's efforts to position itself as an educational platform and address criticisms of harmful content and addictive design.

Related News

Emergent Ventures leads $2.7 Mn round in Astra Security

EntrackrEntrackr · 5m ago
Emergent Ventures leads $2.7 Mn round in Astra Security
Medial

Snippets Emergent Ventures leads $2.7 Mn round in Astra Security Security platform Astra Security has raised $2.7 million in a growth capital round led by Emergent Ventures, along with participation from the Neon Fund, Better Capital, Blume Ventures, and PointOne Capital. The fresh funds will be utilized to accelerate development, enhance capabilities to uncover vulnerabilities in cloud environments, and double down on its focus on using AI to enable developers and security engineers to build security detections, Astra said in a press release. Co-founded in 2018 by Shikhil Sharma and Ananda Krishna, Astra Security is a cybersecurity SaaS company that simplifies otherwise chaotic penetration testing with its Pentest Platform. The company’s AI-powered offensive vulnerability scanning engine emulates hacker behavior to scan applications for over 10,000 security tests. The platform helps businesses fix vulnerabilities in record time and transition from DevOps to DevSecOps with its CI/CD integrations. Last year, Astra reported uncovering nearly 5,500 vulnerabilities per day for its customers with its AI-powered pentest platform. This number is expected to increase threefold by the end of the year. More than 25% of its customers were mid-sized and large companies, including Loom, HackerRank, ITC, Olx Autos, Mamaearth, Muthoot Finance, Bonusly, Singapore Trade Exchange, Oscilar, the University of Cambridge, CompTIA, and Prime Healthcare. Astra claims that over 800 engineering teams across 70+ countries use its AI-powered platform, which continuously mimics hacker behavior to check applications for vulnerabilities through fast detections. This includes PTaaS (Penetration Testing as a Service), a DAST vulnerability scanner, and an API Security Platform, all working together to detect over 13,000 vulnerabilities. Last year, Astra helped its customers discover and prioritize the remediation of over two million vulnerabilities, saving them more than $69 million in potential losses due to security threats.

Exclusive: Lightspeed backs EkAnek’s Foxy almost after four years

EntrackrEntrackr · 1y ago
Exclusive: Lightspeed backs EkAnek’s Foxy almost after four years
Medial

Foxy, an online store that offers a wide range of beauty, grooming, and cosmetic products, has raised Rs 21.6 crore from existing investor Lightspeed India Partners. This is the first round of investment for the Delhi-based company since September 2020. Foxy’s parent EkAnek has passed a special resolution to issue 31,638 preference shares at an issue price of Rs 6827.24 each to raise Rs 21.6 crore or $2.6 million, its regulatory filing accessed from the Registrar of Companies (RoC) shows. The company will use these proceeds for expansion, growth, and general corporate purposes as decided by its board. The round appears to be an ongoing one and Foxy is likely to raise more capital in coming weeks. According to filings, Foxy also increased its ESOP pool by 7,520 stock options which took its total ESOP pool from 22,137 to 28,627 options. As per TheKredible’s estimate, the total pool size is worth around Rs 20 crore or $2.4 million and the company has been valued at around Rs 190 crore or $23 million post-money in the fresh round. Ekanek has raised $21 million to date including a $5.4 million in an extended Series A round led by Alpha Wave and AWI in September 2020. According to startup data intelligence platform TheKredible, Lightspeed India Partners is the largest external stakeholder with 22.4% followed by Peak XV, Alpha Wave, and Matrix Partners. EkAnek’s brand Foxy is a marketplace for beauty, grooming, and cosmetics products. Some notable brands on the platform include Mamaearth, Aqualogica, TheDerma, Garnier, B Blunt, and others. As per a Mint report, Foxy is shifting its focus to offer consultative services, including skincare advice to customers and its existing backers including Peak XV are expected to pump in $10 million in new round. Foxy’s revenue from operations grew 3.8X to Rs 36 crore while its losses stood at Rs 28 crore during the fiscal year ended March 2023. The company is yet to file its financial statements for FY24. Foxy’s early competitor SimSim was acquired by YouTube in July 2021 which shuttered operations in March 2023. Its another competitor BulBul consolidated with The Good Glamm Group.

Exclusive: BiofuelCircle raises Rs 45 Cr led by Spectrum Impact

EntrackrEntrackr · 11m ago
Exclusive: BiofuelCircle raises Rs 45 Cr led by Spectrum Impact
Medial

Biomass and biofuel marketplace BiofuelCircle raised Rs 45 crore ($5.3 million) in funding led by Spectrum Impact with the participation of a few angels as well as the promoters of the company. The board at BiofuelCircle has passed a resolution to issue 3,27,551 compulsory convertible preference shares to raise Rs 45 crore (approximately $5.3 million), its regulatory filing accessed from RoC shows. The company has received Rs 24.3 crore till now while the rest of the sum is yet to be rolled out by the investors. Before this round, it has raised $2 million from Spectrum Capital, Better Capital and others. As per the Kredible’s estimates, the company has been valued at around Rs 282 crore or $34 million pos-allotment. Launched in 2020, BiofuelCircle focuses on building an organized and reliable supply chain for biomass and biofuels. The platform identifies farmers who need to sell their agricultural residue and then it connects them with the storage facilities nearby. The platform further connects these storage companies with factories or refineries where the biomass would be sold. Additionally, these refineries are connected to industrial consumers who purchase the biomass. It also offers buyers to subscribe to the BiofuelCircle marketplace through either prepaid or postpaid subscription plans which also provides access to value-added services. BiofuelCircle directly competes with Buyofuel, which is backed by Inflection Point Venture and Venture Catalysts. The Pune-based company recorded a 5x growth in its operating revenue to Rs 11 crore during the fiscal year ended 2023. However, its losses surged by 80% to Rs 6.8 crore during the same period. The company is yet to file its annual statement for FY24. Lead investor Spectrum has invested in several growth stage startups such as Atomberg, Falcon Labs, Dozee, Miko, Log9, Turno, Blue Sky Analytics, Kreedo and others.

Exclusive: Curefoods gets Landmark Group backing, expands ESOP pool

EntrackrEntrackr · 4m ago
Exclusive: Curefoods gets Landmark Group backing, expands ESOP pool
Medial

Exclusive: Curefoods gets Landmark Group backing, expands ESOP pool Cloud kitchen startup Curefoods is raising Rs 37 crore (around $4.4 million) from Landmark Group. The funding comes just a month after Curefoods acquired Krispy Kreme’s South and West India operations from the same group. The board at Curefoods has passed a special resolution to issue 3,458 compulsory convertible preference shares at an issue price of Rs 1,07,526 each to raise Rs 37 crore, its regulatory filing accessed from the Registrar of Companies (RoC) shows. The Landmark Group is reportedly to invest an undisclosed amount in Curefood in its $40 million round of fundraising. After the latest funding, Landmark Group will retain a 0.96% stake in the company, which could increase with additional investments. Entrackr estimates the firm's post-allotment valuation at around $460 million. Curefoods has also increased its ESOP pool size by adding fresh 10,613 employee stock options worth Rs 114 crore or $13.5 million, the separate resolution shows. According to Entrackr’s estimates, Curefood’s total ESOP plan is now valued at approximately Rs 213 crore or 25 million, encompassing 19,842 employee stock options. Launched in 2020, Curefoods operates brands like EatFit, Yumlane, Aligarh House Biryani, Masalabox, and CakeZone. It has over 100 kitchens in over 200 locations across 15 cities serviced by a backend operation of over 7 food factories, and 150 multi-brand cloud kitchens. The company also acquired two brands – YumLane Pizza and Millet Express in 2023. Curefoods grew at a rapid clip with a 53% year-on-year growth in its revenue to Rs 585 crore in FY24 from Rs 382 crore in FY23. According to its annual report, the sharp decline in advertising costs helped Curefoods to control its losses by 50% to Rs 172.6 crore in the same period.

Download the medial app to read full posts, comements and news.