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News on Medial
7 Indian startups shortlisted for ASME ISHOW in Chennai
Thehindubusinessline
·
1y ago
Medial
The American Society of Mechanical Engineers (ASME) has selected seven startups as regional finalists for the 2023 ASME Innovation Showcase (ISHOW) in Chennai. The finalists will compete for a share of $30,000 in grants and technical support for their hardware technology solutions in agriculture, building, energy, healthcare, and transportation. The seven finalists include companies like Adiabatic Technologies Pvt. Ltd., BluPower, CarbonCraft, Jarsh, Periwinkle Labs Pvt. Ltd., Saptkrishi Scientific, and Zodhya. Three winners from the regional competition will join the 2024 ASME ISHOW cohort.
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AI firms getting GPU sops may see govt at the table
Livemint
·
1m ago
Medial
The Indian government's $1.2 billion AI Mission offers subsidized access to GPUs for startups, potentially in exchange for a 2-4% equity stake. This approach aims to support AI development while ensuring a return on investment for public resources. Startups including Sarvam, Gnani.ai, Soket AI Labs, and Gan AI are shortlisted to benefit. The initiative raises questions about how such tools will enhance public equities and contribute to the broader economic landscape.
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Maruti Suzuki announces winners of 9th Accelerator Cohort
Entrackr
·
1m ago
Medial
Maruti Suzuki India Limited has announced the winners of the 9th cohort of its Accelerator program. The selected startups include six from India: Frinks AI, mistEO, Adagrad, Com Olho, ProSolvr, and Eligere, as well as three from Germany: Caire AI, Syn2Core, and Talonic under a newly launched Global Startups category. All nine winners will engage in proof-of-concept (PoC) projects with Maruti Suzuki, testing and validating their solutions in real-world conditions alongside internal teams. This marks the first cohort to feature global participation, with 19 Indian and 7 German startups shortlisted to present at the finale. The selected startups showcased AI-driven solutions across cybersecurity, road safety, EV charging, battery swapping, and quality control, aimed at enhancing operational efficiency and customer experience. These align with Maruti Suzuki’s broader efforts to scale its operations and integrate advanced technologies. Maruti Suzuki’s startup initiatives include the Accelerator (launched in 2019), Incubation Program (2020), and Mobility Challenge (2021). Over six years, the company has screened over 5,000 startups, engaged with 150, and onboarded 25 as partners.
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Six consortiums picked for earth observation satellite
Economic Times
·
4m ago
Medial
Indian regulator IN-SPACe shortlisted six bidders from nine for a Rs 1,500-crore earth observation satellite constellation. The shortlisted consortiums include SatSure, Pixxel, Tata Advanced Systems, and others, but the sixth is undisclosed. A draft RFP has been issued, with final bids due by March 31. The project involves government loans and private investment. Private companies will seek customers while fulfilling India’s geospatial data needs, traditionally met by ISRO.
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Panasonic selects 12 startups as part of 1st cohort of "PANASONIC IGNITION" Corporate Accelerator program in partnership with 100X.VC
Startup News FYI
·
1y ago
Medial
Panasonic Life Solutions India (PLSIND) and Panasonic Corporation have announced the shortlist of 12 startups for the 'Panasonic Ignition' Corporate Innovation accelerator program, in collaboration with 100X.VC. The program aims to mentor, guide, and fund startups in the field of Energy Management for commercial spaces. The shortlisted startups will participate in a three-month program, receiving support and resources from Panasonic and 100X.VC teams. The final winner will be announced in March 2024.
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When innovation took center stage: Entrepreneur Challenge Season 2 celebrates India's brightest startups
YourStory
·
2m ago
Medial
The Entrepreneur Challenge Season 2, organized by Dell Technologies and YourStory, culminated in a high-stakes showdown in Bengaluru, celebrating India's brightest startups. Featuring women-led startups and general startups, the event shortlisted 11 from over 2,000 applications. Euphotic Labs and AdiUvo Diagnostics emerged as winners, each receiving Rs 16 lakh in Dell Technologies products. The event highlighted camaraderie, learning, and networking, serving as a launchpad for future growth in India's innovation ecosystem.
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IIMA Ventures Picks 14 Startups For Its Indore Smart City Accelerator Programme
Inc42
·
1y ago
Medial
IIMA Ventures has announced its support for 14 startups from Indore in its first cohort of the Indore Smart City Accelerator program. The program aims to coach startups in developing business models and proposals required to engage with public sector customers. It also aims to assist early-stage startups building for urban local bodies in landing pilots to validate their solutions. Three startups, Aumsat Technologies, Arc Robotics, and Pod Pitara, have been shortlisted for pilots by Indore Smart City. Additionally, Electia, a startup from the cohort, has received funding for its automated battery-swapping solution.
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100X.VC invests $2.7M in 18 startups for its 12th cohort
YourStory
·
6m ago
Medial
100X.VC, an early-stage venture capital firm, has invested $2.7 million in 18 startups from its 12th cohort, marking 180 investments since 2019. The Pitch Day attracted over 400 investors, including high net worth individuals and corporations. The selected startups represent diverse sectors such as B2B SaaS, gaming, and biotech, chosen from 304 shortlisted firms. 100X.VC utilizes India SAFE Notes for investment, allowing startups to raise capital without needing a current valuation.
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Bharat Serums shortlists three bidders; Unacademy lays off 250 people
VCCircle
·
1y ago
Medial
Bharat Serums & Vaccines (BSV), a biopharmaceutical company backed by Advent International, has shortlisted three potential buyers for its ongoing sale. The shortlisted bidders include a consortium of EQT and Abu Dhabi Investment Authority, Indian drugmaker Mankind Pharma, and a consortium of ChrysCapital, Warburg Pincus, and Mubadala. In another development, edtech firm Unacademy, supported by SoftBank and General Atlantic, has laid off 250 employees. The layoffs come amidst reports of a potential merger between Unacademy and K12 Techno, the operator of Orchids International Schools.
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Indian startups on track to raise $8-12 billion this year: Peak XV MD Rajan Anandan
Economic Times
·
1y ago
Medial
According to venture capital firm Peak XV, Indian startups are expected to raise $8-12 billion this year, showcasing the country's vibrant startup ecosystem. The uninvested private capital committed for investment in Indian startups is estimated to be around $20 billion. The investment run rate in Indian startups has significantly increased, reaching $60 billion in 2021 and 2022 combined, compared to $7 billion in the previous year. Anandan also highlighted that the Indian startup ecosystem is the most vibrant in the world and predicted that 100 startups will go public within the next seven to eight years.
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Peak XV-Backed Awfis Looking To Go Public, Shortlists 3 Investments Banks
Inc42
·
1y ago
Medial
Awfis, a Chennai-based coworking space provider backed by ChrysCapital and Peak XV Partners, plans to file a draft red herring prospectus (DRHP) within a month for an IPO valued at $100-125 million. The company has shortlisted ICICI Securities, IIFL Capital, and Axis Capital as the investment banks for the IPO. This move would make Awfis the first coworking startup from India to go public. The IPO will comprise both primary and secondary share issues, allowing investors to dilute their shares and the company to raise expansion capital.
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