Indian Startup News

Kerala-based technology startup iBoson Innovations has developed a flagship AI copilot platform, CoTech.ai, which empowers automotive service technicians to automate workflows using AR wearables. The product combines AR and AI to provide real-time insights for precise diagnostics and efficient maintenance planning. CoTech.ai empowers service technicians with real-time diagnostic insights. Through AI-driven data and 3D visualizations, they make informed decisions, streamline diagnostics, and enhance vehicle maintenance efficiency. The AI copilot speeds up repairs, saves costs by preventing issues, and boosts customer satisfaction with quicker, high-quality service. #ai #automotive #technology #automation #services #startup #kerala #Indianstartupnews

Gifting platform Ferns N Petals (FNP) has announced the appointment of Gaurav Sharma as its new Chief Technology Officer (CTO). Sharma, a seasoned professional with over two decades of experience in the technology sector, will be responsible for leading the company's technological advancements, enhancing customer experiences, and driving innovation across FNP’s global operations. Read the full story here: 👇 https://lnkd.in/dujquZWm #gifiting #leadership #management #technology #startup #indianstartupnews

Edtech unicorn upGrad has appointed Amit Mehta as the Chief Human Resources Officer (CHRO). He will formally assume the role on 8th October 2024. Following a successful career at Hindustan Unilever Limited (HUL), where he served in various HR leadership roles, Amit will lead and turbocharge upGrad’s people strategy globally, driving organization effectiveness, talent development, and performance management initiatives. Read the full story here: 👇 https://lnkd.in/d5xyET5c #leadership #edtech #startup #technology #management #indianstartupnews

Sugar fit, a health-tech startup dedicated to managing and reversing Type 2 and Pre-diabetes, has onboarded cricket legend Sachin Tendulkar as its brand ambassador and strategic investor. Through a holistic, science-backed, and data-driven digital health experience, Sugar fit has revolutionised diabetes care treatment with its first-of-its-kind evidence-backed treatment options. This partnership with Sachin Tendulkar will aid Sugar fit in its journey as a force in the battle against Type 2 diabetes. #sachintendulkar #investor #cricket #diabetes #startup #indianstartupnews

Bhavish Aggarwal-led electric two-wheeler maker Ola Electric's market share fell to 27% in September from 31% in August and 39% in July, according to Vahan data. Ola Electric's e-scooter registrations slipped to 23,965 units in September compared to 26,928 units in August and 40,814 units in July. Bajaj Auto, TVS Motor, and Ather Energy's market shares were 21.4%, 20.2%, and 14.8%, respectively. #olaelectric #ola #market #electricvehicles #company #indianstartupnews

Zerodha recently reported a 21% increase in revenue, reaching Rs 8,320 crore, alongside a 62% jump in profits. The company has experienced double-digit growth since the COVID-19 pandemic, driven by the mass participation of retail investors in the stock market. Despite this impressive growth, Zerodha employs only around 1,150 people, a stark contrast to other unicorn startups with similar revenue. Zerodha’s Chief Technology Officer (CTO), Kailash Nadh, revealed in an interview with Moneycontrol that the company’s hiring strategy is highly selective. "We’ve hired about five people in the tech team in the last four years in total, with three in the last year. The total strength is now 35 members in the tech team," Nadh shared. He also mentioned that only two members of Zerodha’s tech team have left in the past 10 years, reflecting the stability within the group. "It is a group of people who hang out with each other, who have the right philosophies, who gel well with each other," Nadh explained. He went on to challenge the common belief that a tech or engineering team must scale in proportion to a company’s financial transactions, user base, or revenue. "It is absolutely possible for a really small team to build massive systems that scale to really massive numbers. For me, if an engineering team grows exponentially as the company and its business grows, that is a bit of an anomaly," he added. #zerodha #engineers #technology #developers #company #team #startup #indianstartupnews

Pune-based financing giant Bajaj Finance has issued a statement to mourn the death of one of its employees who died by suicide and blamed "work pressure" in a note left behind for his family. “We are deeply saddened by the tragic loss of Tarun Saxena and express our heartfelt condolences and full support to his family in this difficult time," the company said. The deceased employee, 42-year-old Tarun Saxena, worked as an area manager in Jhansi, Uttar Pradesh. "I have not slept for 45 days. I have hardly eaten. I am under a lot of stress. Senior managers are pressuring me to meet targets at any cost or quit," Saxena wrote in a note. He also asked his family members to lodge a complaint against his seniors. "Based on allegations, we have relieved the concerned employees of their current responsibilities and placed them on administrative leave, allowing for an unbiased and thorough investigation of the matter. We are also extending our full support to the authorities investigating the matter," Bajaj Finance said. #bajajfinance #bajaj #employee #jhansi #office #work #uttarpradesh #indianstartupnews

Ride-hailing giant Uber has partnered with Shadowfax, a Bengaluru-based logistics services provider, to strengthen its UberMoto bike-taxi services. By tapping into Shadowfax’s large fleet of over 200,000 two-wheelers, the partnership is set to enhance UberMoto’s service by increasing its driver pool and expanding its reach to more cities across India. Uber aims to offer more reliable and affordable bike-sharing options for riders, particularly in regions where UberMoto has limited availability. Read the full story here: 👇 https://lnkd.in/dcMpgR6e #uber #partnership #bike #taxi #ridehailing #shadowfax #delivery #indianstartupnews

India's largest stockbroking firm Groww, which competes with Kamath brothers-led Zerodha, has more than doubled its revenue from Rs 1,295 crore in FY23 to Rs 2,900 crore in FY24, according to data from rating agency ICRA. The company also reported a fourfold increase in net profit, rising to Rs 298 crore from Rs 73 crore in the previous fiscal year. These results represent the standalone performance of Groww Invest Tech Private Limited (GIT), which operates Groww's stockbroking business. The company's credit business, run separately, is not reflected in these figures. GIT is the main operating arm of the Groww Group and is a wholly owned subsidiary of Billionbrains Garage Ventures Private Limited. While Groww leads in terms of user base, Zerodha is still far ahead in financial performance. For instance, Zerodha reported Rs 8,320 crore in revenue and a net profit of Rs 4,700 crore for FY24, outpacing the VC-funded Groww. Read the full story here: 👇 https://lnkd.in/dNwQns_y #groww #stockbroking #businesss #startup #investors #technology #Indianstartupnews

Six-month-old skincare brand ClayCo Cosmetics has secured $2 million (or around Rs 16 crore) in a Series A funding round from Unilever Ventures, Unilever's venture capital and private equity arm. The startup will use the raised capital to expand its product portfolio, strengthen its branding and promotion efforts, drive recruitment, and support its working capital needs. Read the full story here: 👇 https://lnkd.in/em8C7EtZ #funding #skincare #womenentrepreneur #founder #startup #unilever #indianstartupnews