[The Turning Point] When a ‘batter blast’ led iD Fresh to find a way to make Rs 210 Cr a year

  • iD Fresh has seen it all: small vendors making idli-dosa batter in unhygienic ways, dirty polythene packets used for storing products, and even a small blast at one of the first stores the founders had tied up with.
  • iD Fresh began by making idli and dosa batter from a 50sqft kitchen in Tippasandra, Bengaluru.
  • They supplied a few batter packets to a kirana store in Bengaluru.

Read full article: yourstory.com

{Weekly Wrap} Startups raise $11.1 billion in 2019 amid economic slowdown (and other top stories of the day)

  • The Silicon Valley of India has remained at the forefront of tech-driven innovation, with the city possessing all the ingredients in terms of people, infrastructure, and know-how to keep this a pulsating, as well as a vibrant destination for the startup ecosystem today.
  • The Bengaluru Innovation Report 2019, a study done by leading institutional investors – Accel, 3one4 Capital, Ideaspring Capital, and the Government of Karnataka on the state of startups in Karnataka, amplifies the importance of the city as the destination for those who would like to start their tech venture.
  • 2019 was clouded with an economic slowdown, regulatory challenges, unfavourable taxation system, and global uncertainty arising from the US-China trade war, However, the Indian startup ecosystem weathered the storm and managed to raise funding through the year, working behind the scenes to strike deals with investors.
  • How Pune became a global startup hubThe growth of Pune’s startup ecosystem has been led by its wide tech talent pool, Maharashtra’s innovation-friendly policies, and other factors.

Read full article: yourstory.com

Amit Somani of Prime Ventures explains why startups need economic moats to shield themselves from competition

  • Also ReadYou have to be the secret sauce in your startup: Prime Venture Partners’ Sanjay SwamyAs Amit Somani, Managing Partner at Prime Venture Partners, says, ” A moat is always the castle’s first direct line of defense.
  • Amit said, ” With moats, businesses get that competitive edge in the market that the rivals can seldom match up to and the company remains protected under all market situations.
  • the Prime Knowledge series with Amit Somani, brought to you by Prime Ventures, an early-stage VC fund investing in technology and product-focused businesses:Some popular economic moatsSimilar to the medieval fortress moats, economic moats can also vary in nature.
  • Two businesses may or may not have the same type of moat and can exist side by side in the same market.

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Sunera Tech opens Centre for Digital Acceleration in Hyderabad

  • Sunera Technologies, a leading innovative technology solutions company, has opened the Centre for Digital Acceleration (CDA) for businesses across to set up their innovation centres and experience digital solutions.
  • CDA is an extension of Bay Area Sunera Labs (BASL), the company’s innovation lab in Bay Area in California.
  • He said not just Sunera’s customers businesses across India can come to CDA and set up their innovation centre, they can bring their managers to learn different digital solutions and then implement those solutions.
  • According to Ravi Reddy, CDA is the first facility of its kind.

Read full article: telanganatoday.com

Tribe Theory Grabs $3.5 Mn From Tim Draper To Form Its International Division

  • Venture capitalist Tim Draper has invested $3.5 Mn in Tribe Theory, an international entrepreneur-focused hostel chain.
  • The hostel chain was founded by Vikram Bharati in Singapore and came into India with the acquisition of Construkt Startup Hostels founded by Shashikiran Rao and Karan Bahadhur.
  • With this, the existing hostel will rebrand to Draper Startup House (DSH), which is an expansion of Tim Draper’s global brand that also includes Draper Venture Network, Draper Associates and Draper University.
  • ” Tim and his team immediately understood our vision and made an offer to invest in us and work with us to build out this concept globally under the brand Draper Startup House.

Read full article: inc42.com

[WATCH] The week that was – from Zomato’s acquisition of Uber Eats to Deepinder Goyal’s favourite food delivery app

  • Gurugram-based foodtech startup Zomato recently acquired Uber Eats, the Indian food delivery division of Uber.
  • The startup gets Uber’s delivery partners and Uber Eat’s business details, including customer information, delivery partners, and order history.
  • while solving some knotty tax issues around ESOPs, LTCG, and GST.The startups in the country have been on an upward curve, but the larger concern surrounds issues like crunch in the working capital and the easy flow of investor money into the ecosystem.
  • With a growing number of users across Tier II and Tier III India consuming content and shopping online, brands, startups, and content platforms are tying up to create a win-win situation.
  • It’s the place they order food from: Delhi-based cloud kitchen startup Caterspoint.

Read full article: yourstory.com

News Roundup: 11 Indian Startup News Stories You Don’t Want To Miss This Week [Jan 20 – 25]

  • OYO Clears Air Around Layoffs, SoftBank Role
  • Zomato And Swiggy: Delivery Boys And Restaurants Cause Trouble
  • Paytm Payments Bank Helps Govt Track Phishing 
  • Indian Banks Association Asks NPCI To Remove Charges On UPI
  • Govt To Develop Analytics Platform With Open Access To Govt Data
  • PhonePe Launches Insurance Services, Converts Next Door Shops Into ATMs
  • Sachin Bansal Betting High On Navi Technologies
  • This Time, Flipkart To Acquire Walmart
  • After Amazon Tie Up, Future Group Scales Down Ecommerce Plans
  • Netflix Records 100 Mn Users Outside US
  • AI Needs To Be Regulated, Says Sundar Pichai
  • Amazon Founder Jeff Bezos’ WhatsApp Account Hacked!

Read full article: inc42.com

After FASTag, Fastlane Technology For Petrol Pumps Gains Momentum

  • The technology, called Fastlane, was developed by Mumbai-based startup AGS Transact Technologies Ltd in June 2019.
  • By March 2020, we aim to enable HPCL network with Fastlane across 10 major Indian cities,” Satish Zope, head, petroleum and digital payment business, AGS Transact Technologies Ltd told Livemint.
  • It was announced that Paytm Payments Bank will facilitate FASTags transactions on CSC’s platform.
  • For the uninitiated, FASTag is an electronic toll collection system run by NHAI.

Read full article: inc42.com

This Gurugram startup is all set to eat up Swiggy, Zomato profits with its home-cooked meals

  • ” JustMyRoots delivers pure nostalgia in the form of food,” says co-founder Samiran Sengupta.
  • ” While other typical foodtech platforms deliver food within a range of 0-6 kms, we deliver perishable cooked food/others across cities.
  • Our packaging keeps the food fresh for more than 26 hours,” he says.
  • , the concept behind JustMyRoots is simple – to connect people back to their roots through food.
  • ” We are trying to ensure that people do not lose the relevance of tradition, and in doing so, food remains to be the single-most important point of connect,” says Samiran, a business and technology professional with more than 22 years of experience in the domains of supply chain, technology, and business processes.

Read full article: yourstory.com

What investors want from Budget 2020 (and other top stories of the day)

  • On February 1, all eyes will be on Union Finance Minister Nirmala Sitharaman as she delivers the Union Budget for 2020-21.
  • Investors believe that India continues to be largely dependent on foreign capital from the startup funding perspective.
  • One of the reasons businesses continue to find the going tough in India, investors say, is due to the lack of proper infrastructure.
  • Here’s more on what investors want from Budget 2020.Indian startups

Read full article: yourstory.com