PM Narendra Modi's personal website data on sale on dark web,Renewate;Genius Teacher;Dukaan raises big ,Micromax re-enters mobile segment....continue.
Week 43,2020
Hi , Shubham Shekhar here,
Welcome all to the weekly compilation of wonderful tech and related news.
Also Including the best tweet/thread of the week. Do read and engage.
Here is Your weekly dose,
#1
Renewate raised $272K pre-seed round from Better Capital
Pre-seed funding def: also known as pre-seed capital or pre-seed money, is the first instance of fundraising for a startup and is the capital needed to start any business.
a Pune-based contract digitisation startup, started by Debashree and Supratik Ghatak (husband and wife) in 2018.
their clientele includes IKEA, Berger Paints, Razorpay,Paytm and many more.
Renewate also raised an undisclosed amount of funding from Real Estate Accelerator Program (REAP) in the pre-series round.
“We want to remove the common pain points that contractors and professionals face. Many of the contractors, who are our customers, are at the bottom of the pyramid when it comes to literacy and education but really up the chain when it comes to showcasing high-value skill sets,” said, Founders of Renewate in a joint statement.
According to the report by IBEF, By 2040, the Real Estate market will grow to Rs 65,000 crore (US$ 9.30 billion) from Rs 12,000 crore (US$ 1.72 billion) in 2019. It is expected that the Real Estate sector in India will reach a market size of $1 trillion by 2030 from $120 billion in 2017 and will contribute 13% to the country’s GDP in the next few years.
#2
Genius Teacher, a quiz-based learning platform raised $2million
Genius Teacher announced that they raised angel round funding of $2 million from Whiteboard Capital and VKG Ventures LLP and 50 angel investors.
The firm has got the backing of early-stage investors namely Abhijit Bose (Whatsapp CEO, India), Kunal Shah (CEO, Cred), Sandeep Tandon (Co-Founder, Freecharge), Dhruv Agarwal (CEO, Proptiger), Justin Sway (CEO, Mmone online), Dan Lapus (Co-Founder, Cvent), Nimish Kampani (President, Let’s Venture), Gaurav Gupta (ex-VP, Snapdeal), Bikram Bedi (ex-MD AWS India) and Farooq Adam (Co-Founder, Fynd), the firm said in a statement.
Aditya Sharma, founder and CEO, Genius Teacher, said “Genius Teacher is all about transforming boring education to a learning adventure. We have a big vision to be the best quiz-based learning platform loved by millions of children in K-12.”
“Our big innovation of interest-based learning teaches children like never before. We will utilise our $2 million funds raised to create products for teachers and grow fast to million-plus students in the next 12 months,” he said.
#3
Micromax re-entering the mobile segment with ‘in’ range of smart phones on Nov,3
Micromax has announced that it will launch range of smartphones under the brand in an online event on November 3rd.
Micromax already said that it plans to invest Rs. 500 crore to build products from ground-up. It has state-of-the-art manufacturing facilities in Bhiwadi and Hyderabad and has a capacity of producing over 2 million phones per month.
The company claims that it was inspired by Prime Minister Narendra Modi’s call for an Atmanirbhar Bharat.
Listen to the CEO Rahul Sharma announcements:
click on the image-
#4
ALTBalaji acquired 17.5 % stake of online celebrity engagement platform, CAMEO-alternatives Tring
A ₹15 crore deal, pushed the valuation of the startup to ₹100 crore
Tring,a celebrity shout-out and engagement platform was started right before the COVID-19 lockdowns started in India, in February by Akshay Saini, Rahul Saini and Pranav Chabhadia.
Since then, the startup, which models itself after services like Cameo, claims to have over 2,000 celebrities registered.
“Both ALTBalaji and Tring work with talent and try to bring them a step closer to their fans and vice-versa,” Kapoor said. “We believe this synergy will work in favour of both the brands and help each other widen our reach.”
Tring’s existing investors include photographer and movie producer Atul Kasbekar, along-with industry-leaders and angel investors Kalyan Krishnamurthy (CEO of Flipkart) Sujeet Kumar (CEO of Udaan) Gaurav Munjal (CEO of Unacademy) Roman Saini, Hemesh Singh, Sumit Jain, Dinesh Godara (Founding team Unacademy), Keshav Sanghi (Ventureworks India), Dalbir Saini (Chairman BDI Group), amongst others.
#5
Dukaan, raises $6 million from Lightspeed India and Matrix and some reputed angel investors
seed funding def :
Seed funding is a form of financing/startup funding for a business. The reason it is referred to as “seed” is because this financing happens at the very beginning of the life cycle of a startup. The goal of seed funding is to launch the business and help it grow so that it can start generating its own revenue.
a ‘do-it-yourself’ platform enables small business mans with their local stores to set up online stores.
13 reputed angel investors also participated in this round, including - Haresh Chawla, founding CEO, Network18, Viacom18; Ryan Hoover, founder, Product Hunt; Jitendra Gupta, founder, Jupiter; Shashank Kumar, founder, Razorpay; Kunal Shah, founder, Cred, amongst others.
The startup plans to leverage these new funds, to expand its services to 60 million small and mid-sized merchants across multiple categories such as books, consumer goods, grocery, fashion, electronics, and professional services.
Along with this, Dukaan will also use the funding to expand its geographic operations and enhance its product suite, while helping merchants widen their digital footprint.
“Our mission is to enable each and every small retailer to launch, compete and grow their business online, without ever worrying about technology. Our customers love us and we are excited to continue to pursue our mission, with support from Lightspeed, Matrix and our angels," said Sumit Shah, chief executive officer and co-founder of Dukaan said
Dukaan claimed to have onboarded over 2.7 million merchants onto its platform across India, since its launch.
The online stores recently have generated over 600,000 orders in the last three months with a combined value of over Rs 100 crore.
#6
Donor data on sale on dark web from PM Narendra Modi's personal website
for more details click on the image.
The leaked data includes personally identifiable information of over 5,74,000 users, with over 2,92,000 people who made donations to the PM's National Relief Fund through PM Modi's personal website, Narendramodi.in.
As per the claims by the company called Cyble, claimed that leaked data showcases details of the financial transactions made by donors for contributing to the PMNRF. This also includes non-public data such as bank ref no, payment mode, etc.
No official statement in response to the alleged leak on the dark web has been made so far.
#7
Flipkart buys 7.8% stake in Aditya Birla Fashion worth Rs 1500 crore
visit Finshots for more such contents.
Aditya Birla Fashion and Retail,operates over 3,000 stores, including the Pantaloons clothing chain.
As part of the “landmark” strategic partnership, Flipkart will also sell and distribute various brands of Aditya Birla Fashion and Retail. (The Indian fashion retail giant owns rights to sell Forever 21 merchandise in India, for instance.)
“This partnership is an emphatic endorsement of the growth potential of India,” said Kumar Mangalam Birla, chairman of Aditya Birla Group, which operates the fashion retail firm in a filing to the stock exchange. “It also reflects our strong conviction in the future of the apparel industry in India, which is poised to touch $100 billion in the next five years.”
In 2015, it had launched Abof, but the venture failed to gain traction and was shut down two years later.
Thread of the week-
Observations about the behavior of Next Billion Users (NBU) by Prashant Singh,
Product @Paytm, Past : Co-Founder @getshifu
Click on the image to continue.
That’s all for this week. Will now be hitting your inbox next week.