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Startup news and updates: Daily roundup (September 16, 2024)

YourStoryYourStory · 1y ago
Startup news and updates: Daily roundup (September 16, 2024)
Medial

Venttup, a startup focused on Indigenisation Program Management, has raised seed funding from Unicorn India Ventures. The capital will be used to accelerate business growth and technology development. Venttup aims to unite manufacturing MSMEs on a single digital platform to transform India into a global manufacturing hub. Alpino, a healthy foods brand, has welcomed Bollywood actress Shilpa Shetty as its brand ambassador and key investor. The company raised $1.2 million in funding and plans to launch over 20 new products in the next two years. IIMA Ventures has launched Growth Accelerator 2.0 to support 15 SMEs and family businesses for strategic growth and innovation. Deepika Padukone, the renowned actress, has joined KRAFTON India as the brand ambassador for BGMI (BATTLEGROUNDS MOBILE INDIA). She will be featured as a playable character in the game.

Alpino ropes in Shilpa Shetty as investor, Venttup bags early-stage funding

VCCircleVCCircle · 1y ago
Alpino ropes in Shilpa Shetty as investor, Venttup bags early-stage funding
Medial

Healthy foods brand Alpino has raised $1.2 million in its first funding round, with Bollywood actor Shilpa Shetty joining as an investor and brand ambassador. The funds will be used to expand Alpino's offline presence, drive international growth, and support product innovation. Alpino, which is already a top seller on e-commerce platforms in India, aims to become a Rs 500-crore ($67 million) brand within the next two years. In another development, Manufacturing as a Service (MaaS) startup Venttup has raised undisclosed seed funding from Unicorn India Ventures to fuel business growth and technology development. Venttup offers localized production and plans to enter international markets.

Shilpa Shetty-backed WickedGud raises Rs 20 Cr

EntrackrEntrackr · 11d ago
Shilpa Shetty-backed WickedGud raises Rs 20 Cr
Medial

Shilpa Shetty-backed WickedGud raises Rs 20 Cr Shilpa Shetty-backed WickedGud, a direct-to-consumer (D2C) food products brand, has raised Rs 20 crore in its latest funding round from existing investors, including Orios Venture Partners, Asiana Fund, Shilpa Shetty, and others. The round also saw participation from Shajikumar Devakar, Ajay Mehta, Sonika Ravula, and Rahul Colaco. The Mumbai-based startup had previously raised Rs 20 crore from the same investors in December last year and $250,000 in June 2023. The proceeds will be deployed to expand its presence across modern trade, general trade, and digital platforms, strengthen supply chain and backend capabilities, and accelerate innovation in high-velocity categories such as cup noodles and Korean-style spicy noodles, WickedGud said in a press release. Co-founded in 2021 by Bhuman Dani, WickedGud is a D2C startup focused on “unjunking” India, one kitchen at a time, with a range of healthy yet indulgent food products. Its offerings are made using wholesome ingredients and manufactured using innovative steaming and convection air drying (SCAD) technology. According to WickedGud, it operates in the large and highly competitive instant noodles and pasta segment, where taste, accessibility, and price sensitivity are key drivers of scale. The company’s focus on improving everyday staples through a better-for-you lens has helped it appeal to a broad consumer base without positioning itself as a niche or premium-only brand. The brand is currently available across leading online and quick-commerce platforms, including Amazon, Blinkit, Instamart, Zepto, BigBasket, and Flipkart. In addition to its digital presence, WickedGud has an offline footprint across more than 5,000 retail outlets nationwide, including over 1,500 Reliance Smart Bazaar stores and 50 DMart stores. Recently, the company launched a Rs 20 value pack of Masala Noodles for general trade, aimed at improving affordability and driving higher volumes in price-sensitive markets. It is also expanding its Korean-style noodles portfolio with new flavours, including Korean Fiery 2x Spicy, Korean Chilli Cheese, and Korean Chilli Chicken.

Ixigo set to acquire 51% stake in train food delivery firm Zoop

EntrackrEntrackr · 1y ago
Ixigo set to acquire 51% stake in train food delivery firm Zoop
Medial

Travel booking platform Ixigo is all set to acquire a majority stake in Zoop Web Services Private Limited. The board of directors at Ixigo approved the acquisition during a meeting held on October 24, 2024. The deal involves Ixigo purchasing a 51% stake in Zoop for a total consideration of Rs 12.54 crore, which includes a non-compete fee. This transaction is subject to the fulfillment of certain conditions, as outlined in the definitive agreements signed by both companies. The acquisition will be executed through a combination of secondary and primary share purchases. Zoop is known for providing e-catering and other solutions for the railway ecosystem. By integrating Zoop’s offerings into its platform, Ixigo aims to provide a more comprehensive travel experience to its users. This acquisition makes sense for Ixigo as 53% of its revenue collected in Q2 FY25 came from the train vertical. Zoop offers meal bookings, PNR status checks, and other railway-related services. It operates across 18 states and provides services at 192 railway stations. The company partners with nearly 400 active restaurants. In addition to acquiring the majority stake, Ixigo has secured an option to purchase the remaining 49% stake in Zoop in the future. This is the third major acquisition for Ixigo. In February 2021, it acquired a 100% stake in the train booking app Confirmtkt, while it took over the bus aggregator platform AbhiBus in August of the same year. Ixigo's revenue from operations saw a 26% growth to Rs 206.47 crore in Q2 FY25, compared to the same period in FY24. However, the company's profit after tax (PAT) experienced a significant decline of 51%, dropping from Rs 26.70 crore in Q2 FY24 to Rs 13.08 crore in Q2 FY25.

Shilpa Shetty-backed WickedGud raises Rs 20 Cr led by Orios Venture Partners

EntrackrEntrackr · 1y ago
Shilpa Shetty-backed WickedGud raises Rs 20 Cr led by Orios Venture Partners
Medial

Shilpa Shetty-backed WickedGud, direct-to-consumer (D2C) food products brand, has raised Rs 20 crore led by Orios Venture Partners and saw participation from Asiana Fund and a clutch of existing investors. Earlier in June 2023, WickedGud secured $250,000 in additional growth funding led by GetVantage. WickedGud has earlier been backed by Titan Capital, Mumbai Angels, NB Ventures. The proceeds will be used to ramp up its distribution network, increase spending on branding and marketing, and strengthen its core team. It also plans to expand its product development initiatives, enhancing the existing portfolio and adding Korean flavours to its instant and cup noodles range. Co-founded in 2021 by Bhuman Dani, Monish Debnath, and Soumalya Biswas, WickedGud is a D2C startup dedicated to unjunking India one kitchen at a time with a variety of healthy and indulgent food products. Its products are made using wholesome ingredients and are manufactured using innovative steaming and convection air drying (SCAD) technology. The Mumbai-based startup claims to have grown 5x in the past 24 months and operates through an omnichannel distribution network, with availability on all major quick commerce and e-commerce platforms and over 2,000 retail outlets across India including over 400 Reliance SMART Bazaar, Signature, and Freshpik stores.

Kids' clothing and gear is more expensive than ever. Kidsy has a sustainable solution for discounts

TechCrunchTechCrunch · 1y ago
Kids' clothing and gear is more expensive than ever. Kidsy has a sustainable solution for discounts
Medial

Chicago-based e-commerce startup Kidsy aims to provide discounted baby and kids products while tackling the issue of overstock and waste. The company partners with large brands, retailers, and liquidation companies to offer their overstock and returned inventory, including clothing, strollers, car seats, toys, travel gear, and nursery furniture. Kidsy's founders, Shraysi Tandon and Sinan Sari, have raised $1 million in pre-seed funding and have seen early success, reaching $1 million in annualized revenue just four months after their beta phase. The company plans to use the funding for expansion, hiring, and implementing artificial intelligence and machine learning.

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