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Exclusive: Mitron TV, TrainMan co-founders set to launch AI startup Callmatic

EntrackrEntrackr · 11m ago
Exclusive: Mitron TV, TrainMan co-founders set to launch AI startup Callmatic
Medial

Shivank Agarwal, co-founder and former chief executive of short video app Mitron TV, and Mohd Amir, co-founder of online train ticket booking and information platform — TrainMan, have teamed up to launch a conversation AI startup Callmatic, sources told Entrackr. Agarwal and Amir’s new startup Callmatic is a conversational AI startup which automates management of inbound and outbound calls to provide lead qualification and scalable customer outreach. As per the company’s website, it offers solutions for recruitment, sales, healthcare and customer support leveraging generative AI technology. Before incorporating Callmatic, Amir was senior engineering manager at Microsoft while he was associated with TrainMan as co-founder between October 2013 and March 2019. Last year, Goodwater Capital-backed TrainMan was acquired by Adani Digital Labs. Callmatic has also roped in more than a dozen angel investors who put in $100,000 (Rs 83.8 lakh) in the company. Abhishek Agarwal, Nilesh Ukey, Sumit Gupta, Abhishek Jain, Karan Attri, Kush Mishra, Manasi Jain, Naresh Kumar, Naveen Bansal, Rahul Kumar Sahu, Vineet Chirania, Gaurav Nemade, Gunjan Sharma have invested the aforementioned sum in the Bengaluru-based startup, as per its data sourced from the RoC. It’s worth noting that Mitron TV was in talks with vernacular microblogging platform Koo for acquisition. Koo, which recently shut down its operations, also invested Rs 28.17 crore in Mitron TV through share swap deal. Entrackr exclusively reported this in June 2022. It appears that Mitron TV silently shut down its operations in mid-2022 after the failed deal with Koo. The app was one of the handful of companies which capitalized the void created after a ban of TikTok in India. Agarwal’s LinkedIn profile also reflects that he continued with the company until September 2022. Mitron TV’s other co-founder Anish Khandelwal rejoined MakeMyTrip in April 2022.

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Exclusive: DealShare co-founder’s new startup Sports For Life raises seed round

EntrackrEntrackr · 9m ago
Exclusive: DealShare co-founder’s new startup Sports For Life raises seed round
Medial

Sourjyendu Medda, co-founder of social commerce platform DealShare, has ventured into the sportstech space with his new startup, Sports For Life, which aims to invest in and support the sports ecosystem in India, focusing on providing athletes with the necessary resources to excel. While Sports For Life has yet to announce its official launch, the Bengaluru-based startup has raised seed funding from individual investors and early-stage venture capital firm Roots Ventures. The board of Sports For Life’s parent company, Jambavan Academy, has passed a special resolution to issue 3,000 Seed CCPS to raise Rs 9.5 crore, according to its regulatory filings accessed by Entrackr. Roots Ventures invested Rs 5 crore, while ML Tondon and Sons HUF and Blume Ventures pumped in Rs 3 crore and Rs 1 crore, respectively. The rest of the amount was poured in by Kunal Shah’s QED Innovation and Himanshu Arora. According to TheKredible, the company is valued at Rs 36.65 crore ($4.3 million) following this seed round. Following the fresh funding, Roots Ventures has become the largest external stakeholder with a 12.08% stake, followed by ML Tandon HUF and Blume Ventures. Co-founders Sourjyendu Medda and Armaan Tandon collectively hold 66.83% of the company. See TheKredible for the detailed shareholding pattern. According to the firm’s website, Sports For Life is investing in sports academies across India, with the goal of creating a sports ecosystem that elevates the overall standard of sports in the country. Medda, who was one of the co-founders and a board member of DealShare before leaving in January, has also roped in Armaan Tandon, a former data and operations analyst at Cartesian, as a co-founder of Sports For Life. In 2024, several prominent startup founders have launched new ventures, many of which have already secured initial funding. Notable launches include ZeroPe by BharatPe co-founder Ashneer Grover, OppDoor by Flipkart co-founder Binny Bansal, Unikon by Bella Vita founder Aakash Anand, Gabit by Zomato co-founder Gaurav Gupta, Callmatic by Mitron TV co-founder Shivank Agarwal, and Lyskraft and Nurix AI by Cult.fit co-founder Mukesh Bansal.

Exclusive: Accel to lead $8 Mn round in wedding service marketplace Meragi

EntrackrEntrackr · 1y ago
Exclusive: Accel to lead $8 Mn round in wedding service marketplace Meragi
Medial

Meragi, an online platform to discover, design and purchase all wedding related services and products, is all set to raise $8 million in a new round, according to two people aware of the development. “Accel will lead the round while existing backers Surge and Venture Highway may also participate. The deal is in the final stage as all paperwork has been completed,” said a source requesting anonymity. Meragi was part of the eighth cohort of Peak XV’s accelerator program Surge which also featured Arintra, AltWorld, Bifrost, Calyx Global, Diri Care, Masterchow, Metastable Materials, RedBrick AI, Requestly, Tentang Anak, and Vaaree. Launched in 2021, Meragi provides modern wedding-related services such as decoration, photography, videography, makeup, hairstyling, mehendi, catering, venue, entertainment, and invitations. The platform allows users to discover, design, and purchase these products and services for various lifestyle events. It also offers destination wedding packages in Goa, Coorg, Chikkamagaluru, Mysuru, and Bengaluru. Accel declined to comment on the story while queries sent to Meragi’s co-founders did not elicit any response until publication of the story. As per data sourced from the company’s regulatory filings, Meragi has raised around Rs 40 crore ($4.5 million) to date from Surge, Venture Highway and angels including Livspace’s co-founder Ramakant Sharma. Currently, Surge is the largest external stakeholder in Meragi with 25% stake, according to startup data intelligence platform TheKredible. Venture Highway controls 20% stake while three co-founders Mukund Mohan Raj, Lakshminarayan Balasubramaniam, and Abhinav Vinay Chandran hold 14.25% stake each in the company. Notably, all three co-founders were part of Livspace for around five years. ShaadiSaga, Wedmegood, Wedding Brigade, and Shaadilogy, among others also compete in the space.

Exclusive: Lokal launches Dostt, Eaze and Gyan TV; plans 40 more apps

EntrackrEntrackr · 5m ago
Exclusive: Lokal launches Dostt, Eaze and Gyan TV; plans 40 more apps
Medial

Hyperlocal social media platform Lokal has introduced a new app called Dostt, which offers 1-to-1 voice and video calling while maintaining user anonymity. This is one of the several dozen apps which the firm is set to launch over the next year, as per the company’s co-founder Jani Pasha. The Dostt app is designed as a secure and private platform featuring verified profiles and a diverse community. It aims to provide a safe space for conversations on topics such as relationships, love, career, and more. It caters to native language speaking users between the ages of 18 and 45. “We are rapidly expanding our app portfolio across multiple categories and are now preparing to launch 40 new apps in categories like astrology, emotional wellness, matrimony, and legal services in 2024,” said Pasha. Besides Dosst, Lokal has recently launched Eaze, an app focused on emotional wellness, and Gyan TV, a skill-based learning app similar to Seekho, offering courses on stock trading, photography, and more.

Exclusive: Lenskart set to acquire location AI startup GeoIQ

EntrackrEntrackr · 1m ago
Exclusive: Lenskart set to acquire location AI startup GeoIQ
Medial

Exclusive: Lenskart set to acquire location AI startup GeoIQ Omnichannel eyewear retailer Lenskart is all set to acquire location artificial intelligence startup GeoIQ, sources aware of the development told Entrackr. “The deal is nearing completion, with Lenskart set to acquire a majority stake in GeoIQ,” said a source familiar with the matter. “Most of the existing investors are expected to exit as part of the transaction.” Lenskart, which had previously invested in GeoIQ, spearheaded a $2.25 million funding round in May 2022, joined by 9Unicorns (now 100Unicorns) and Ecosystem Ventures. In November 2020, the startup secured Rs 2.5 crore in funding from investors including 9Unicorns, Inflection Point Ventures (IPV), Kayenne, and LetsVenture, among others. Founded by Devashish Fuloria, Tushneet Shrivastava, and Ankita Thakur, GeoIQ utilizes proprietary algorithms to layer government data with other trusted public sources and satellite imagery into generating 100m x 100m geospatial grids. The startup specializes in providing businesses with actionable consumer insights to tap into offline demand and facilitate faster expansion. It already works with well-known brands like Lenskart, Zepto, Navi, HUL, Caratlane, GIVA, Swiggy, Licious, and CultFit. According to startup data intelligence platform TheKredible, GeoIQ is currently valued at around Rs 90 crore (over $10 million). Lenskart is the largest stakeholder in the company with a 17.11% stake while all three co-founders hold 16.57% each. For the fiscal year ending in March 2024, GeoIQ reported an operating revenue of Rs 6.7 crore against Rs 7.1 crore in FY23. Its net loss widened to Rs 6.1 crore from Rs 4.2 crore year-on-year. “The terms of the deal have been sealed, with GeoIQ expected to be valued anywhere between $15–20 million,” said the person quoted at the beginning of the story. This marks Lenskart’s second acquisition in the last two years. In October 2023, the Peyush Bansal-led company acquired TangoEye, an AI-driven computer vision startup in which it was already an investor. In June 2022, it bought a majority stake in Japan’s Owndays. Three months later, Lenskart’s subsidiary Neso Brands also acquired a minority stake in Paris-based omnichannel eyewear brand Le Petit Lunetier. The development comes as Lenskart gears up for its initial public offering (IPO) as it aims to raise $1 billion at a valuation of $10 billion. Last week, the company also transitioned its holding entity from a private limited to a public limited company. The move was exclusively reported by Entrackr.

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