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News on Medial
WishNew gets funding from IIT Delhi alumni group, DotPe co-founder
VCCircle
·
10m ago
Medial
Wellness solutions provider WishNew Wellness has secured $250,000 in angel funding at a valuation of $5.65 million. The funding round was led by a group of Indian Institute of Technology (IIT) Delhi alumni, alongside investors including co-founder of DotPe, Gyanesh Sharma. WishNew plans to use the funds to enhance research and development efforts, expand its product range, scale manufacturing and distribution capabilities, and invest in marketing and branding. The startup offers nutritional supplements, skincare products, fitness aids, and mental wellness products.
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TechEagle Bags Funds To Offer Drone Deliveries To Enterprises
Inc42
·
1y ago
Medial
TechEagle, a drone logistics startup, has raised funding in a round co-led by Navam Capital and Inflection Point Ventures. Other participants in the funding round include Vijay Shekhar Sharma, the founder of Paytm, and Venture Catalysts. The company plans to use the capital to expand its operations nationwide and develop higher payload drones for mid-mile and inter-city deliveries. Founded by IIT-Kanpur alumni Meena and Anshu Abhishek in 2017, TechEagle offers on-demand autonomous drone delivery services.
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‘At 18, you’re a rebel’: Nandan Nilekani shares ’rebellious’ choice of IIT Bombay over father’s wishes | Company Business News
Livemint
·
9m ago
Medial
Nandan Nilekani, co-founder of Infosys and influential figure in India's digital transformation, shared a personal story during a conversation with LinkedIn's CEO. Nilekani defied his father's wishes and chose to attend IIT Bombay, one of India's top engineering institutions. Despite his father urging him to study chemical engineering at IIT Madras, Nilekani rebelled and pursued electrical engineering at IIT Bombay. The institute is renowned for its academic excellence, research contributions, and strong alumni network. It offers undergraduate, postgraduate, and doctoral programs in various disciplines.
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IIT Guwahati alumni’s startup acquired by US EV charging giant
Internet
·
1y ago
Medial
EvyEnergy, an eMobility software platform co-founded by three alumni of the Indian Institute of Technology (IIT) Guwahati, has been acquired by Zemetric, a leading American provider of electric vehicle (EV) charging technologies. EvyEnergy was established in 2021 by Tushar Bohra, Mohit Jain, and Bhabani Mohapatra, who graduated from IIT Guwahati's B. Tech. programme in 2022.
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Hyundai to invest $7M in battery, electrification research with IITs
YourStory
·
9m ago
Medial
Hyundai Motor Group has partnered with three Indian Institutes of Technology (IIT) to establish a collaborative research system in the fields of batteries and electrification. The group, which will invest $7 million over five years, has joined forces with IIT Delhi, IIT Bombay, and IIT Madras. The Hyundai Center of Excellence will be set up within IIT Delhi and will focus on driving advancements in batteries and electrification that meet the unique requirements of the Indian market. The collaboration will also facilitate exchanges between battery and electrification experts from Korea and India.
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IIT Madras Raises INR 513 Cr To Invest In R&D, Tech Deployment
Inc42
·
1y ago
Medial
The Indian Institute of Technology Madras (IIT Madras) has raised INR 513 Cr in the financial year 2023-24, setting a record for the highest funding raised by an academic institute in a year. The funds will be utilized for technology research, deployment of existing technology for societal needs, scholarships for deserving students, and infrastructure development. The funds were contributed by IIT Madras alumni, individual philanthropists, corporate social responsibility (CSR) funds, and grants from Indian and multinational corporate firms. The institute also received pledges of INR 717 Cr from alumni and corporate partners.
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IIT Bombay alumni gift Rs 57 crore to institute
Economic Times
·
1y ago
Medial
The Indian Institute of Technology, Bombay (IIT Bombay) has received a record-breaking donation of Rs 57 crore from its class of 1998 as part of its silver jubilee celebrations. This donation exceeds the previous record of Rs 41 crore given by the class of 1971 during their golden jubilee celebrations. The funds will be used for academic projects and research at IIT Bombay, including creating eco-friendly hostels, fostering innovation, and providing scholarships. Over 200 alumni, including top global executives, have contributed to this initiative. IIT Bombay aims to continue its excellence and development with the support of its alumni.
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IIT Bombay's tech incubator platform mulls raising $12 mn foor deeptech bets
VCCircle
·
9m ago
Medial
The Society for Innovation & Entrepreneurship (SINE), an incubator at IIT Bombay, plans to establish a $12 million fund to support deeptech start-ups and ventures in areas of national importance. The fund will focus on sectors such as science, biotech, space, and defence to drive innovation. SINE will seek support from IIT Bombay alumni to raise the capital for the fund, which aims to build on the incubator's 20-year track record of supporting start-ups. SINE has partnerships with various government ministries and offers resources like workspaces, labs, and access to funding.
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AI startup Zoca raises $6 million from Accel, Elevation Capital, others
Economic Times
·
3m ago
Medial
AI startup Zoca has raised $6 million in a funding round led by Accel, with participation from GTMfund, Elevation Capital, and Better Capital. Founded by IIT Kharagpur alumni Ashish Verma and Robin Chauhan, Zoca uses AI agents to assist hyperlocal businesses, such as salons and florists, with marketing and growth. The funding will support their US market strategy and enhance AI capabilities, currently serving over 1,000 beauty and wellness businesses, generating significant revenue.
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Drone startup ideaForge raises ₹60 cr in pre-IPO round: Report
Inshorts
·
2y ago
Medial
According to a report by The Economic Times, ideaForge, a drone startup founded by alumni of IIT Bombay, has secured ₹60 crore in a pre-IPO funding round, which estimated the company's value at approximately ₹2,500 crore. The investment came from various investors, including Tata AIG General Insurance and Motilal Oswal Mutual Fund. The startup recently submitted its red herring prospectus, as stated in the report.
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Bengaluru-based EV startup Oben Electric raises ₹40 crore
Inshorts
·
2y ago
Medial
Oben Electric, an electric vehicle startup located in Bengaluru, has secured ₹40 crore in an extended pre-series A funding round. The funds will be utilized to expand the production capacity of its Bengaluru facility to 100,000 units per year and to facilitate the launch of its first e-motorcycle, named 'Rorr,' in July. Established in 2020 by alumni from prestigious institutions like IIT and IIM, Oben Electric has accumulated a total funding of ₹88 crore to date.
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