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

News on Medial

Equirus InnovateX Fund leads seed round in PointO

EntrackrEntrackr · 1y ago
Equirus InnovateX Fund leads seed round in PointO
Medial

Lithium battery startup PointO has raised Rs 6.2 crore in a Seed funding round led by Equirus InnovateX Fund (EIF). “At Pointo, we strive to replicate this impact with the introduction of lithium-ion batteries. By offering higher mileage and reducing the cost of capital, we aim to potentially triple or quadruple e-rickshaw drivers’ take-home income,” said Riki Biswas, founder and CEO of PointO. Launched by Biswas and Gaurav Jindal, PointO is on a mission to build a full-stack lithium battery ecosystem, encompassing manufacturing, financing, and servicing of lithium batteries. With an initial focus on adoption and financing of lithium batteries for e-rickshaw owners in tier-II and beyond cities, the company is targeting the problem of low adoption in this segment due to operational and financial complexities. The company claims that it grew 7x in the last 12 months and plans to expand its physical centres to include more than 10 cities over the next 12 months. The market for e-rickshaws is projected to deliver a staggering 32% compound annual growth rate (CAGR) between 2021-2032, reaching a value of $27.5 billion. With lithium batteries comprising 60-70% of the total cost of ownership and sustainability concerns driving a shift from lead-acid to lithium batteries, PointO aims to capture significant market share and drive industry-wide transformation.

Related News

Zee invests in Flutrr; Datazip, three others pocket early-stage cheques

VCCircleVCCircle · 1y ago
Zee invests in Flutrr; Datazip, three others pocket early-stage cheques
Medial

- Zee Akaash News Pvt. Ltd is investing Rs 3.75 crore in Flutrr Digimate Pvt. Ltd, a vernacular social media website and mobile app. - AI startup Wokelo has secured $4 million in seed funding from Array Ventures and KPMG Ventures. The funding will support the development of its technology that streamlines due diligence. - Data engineering startup Datazip raised $1 million in seed funding from Equirus Innovatex Fund. Their platform offers data ingestion, storage, transformation, and visualization solutions. - Social Hardware, a startup specializing in assistive devices and field robotics, raised Rs 3.2 crore in a seed round led by Inflection Point Ventures. - Onlygood.ai, a platform simplifying carbon management and sustainability reporting, raised Rs 4 crore in a seed funding round from IITMIC, Goel Group, and Daimler India Commercial Vehicles. The platform plans to expand its operations across India, the Middle East, and Europe.

Consuma raises $1.3 Mn in seed round led by Equirus InnovateX Fund

EntrackrEntrackr · 14d ago
Consuma raises $1.3 Mn in seed round led by Equirus InnovateX Fund
Medial

Consuma raises $1.3 Mn in seed round led by Equirus InnovateX Fund Consuma, a startup that aims to disrupt traditional research methods like surveys and focus-groups, has raised $1.3 million (about Rs 11.16 crore) in seed funding round led by Equirus InnovateX Fund, along with participation from prominent angel investors such as Abhishek Goyal, Mekin Maheshwari, Bhavik Dholakia, Harsh Shah, Arnav Kumar, Shiv Kapoor, Biswa Kalyan Rath, and several others. The Bengaluru-based startup had previously raised $200K in the same round from Expert DOJO and others. The proceeds will be allocated for technology development and market expansion - both domestically and globally, Consuma said in a press release. Launched in 2021 by Abhilash Madabhushi, Consuma is an AI startup that aims to revolutionize how brands conduct consumer research. By replacing traditional surveys and focus groups with AI-driven analysis of digital behaviour, Consuma enables brands to access faster, richer, and more cost-effective insights. “Consumers are changing faster than ever before, and brands need research methods that keep up with this rate of change. We are building technology to bring consumer research into the age of AI - driving differential insights in minutes, not months,” said Abhilash Madabhushi, founder of Consuma. According to Consuma, brands can perform research in 30 minutes instead of 2-3 months, at 1/10th the cost, all while analysing 1000x more data. In less than six months since its public launch, the company claims that it already works with over 35 global brands, including Godrej and Britannia.

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