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Funding news

NuvoRetail secures $350,000 to advance Enlytical.ai 

NuvoRetail has secured $350,000 in funding to accelerate the development of Enlytical.ai, an AI-ML platform for ecommerce bid automation and global expansion.

Enlytical.ai allow brands to manage ecommerce platforms and KPIs like sales, marketing, portfolio, content, supply chain management, pricing, and loyalty. It features an AI-driven media spend optimization engine to enhance campaign performance, budget allocation, and ROI.

The platform also offers tools for digital shelf measurement, on-shelf analysis, and competition benchmarking, enabling businesses to track competitors’ strategies, pricing, and product offerings in real time, aiding informed decision-making and increasing market share and ROI.

Other news

2,000 students+ join Arena Animation, Bharti Airtel Foundation’s Design-a-thon Challenge

Arena Animation, a brand of Aptech Limited, collaborated with Bharti Airtel Foundation to organise the inaugural Design-a-thon Challenge 2024. Held from July 4-7, 2024, the event aimed to tap into the potential of budding creative students.

Over 2,000 students from 180+ Arena Animation centres across India participated, creating thousands of impactful educational illustrations, showcasing their ingenuity and innovative spirit.

The winner, Tithi Bain from Arena Animation, Kolkata, earned a one-year paid apprenticeship with Bharti Airtel Foundation, while runners-up Arnab Maitra (Kolkata) and Panish Sen (Ahmedabad) received paid internships. Over 20 participants were also awarded certificates and cash prizes.

BluSmart secures patent for full-stack EV ride-matching and charging solution

BluSmart, an electric mobility ride-hailing service and EV charging infrastructure network, has been awarded a patent by the United States Patent and Trademark Office (USPTO). The patent titled “Systems and Methods for Allocating Vehicles to Ride Requests” was granted on August 6, 2024.

BluSmart’s system employs a full-stack approach to ride-matching, efficiently guiding drivers from initiating the ride to picking up the customer and, when necessary, navigating to the nearest EV charging station. This creates a connected ecosystem of EVs and chargers.

Its predictive analytics model predicts real-time demand for its EV ride-hailing service, ensuring drivers are well-positioned to meet peak demand. It also addresses range anxiety by matching rides based on EV charge levels and charging station availability. Its drivers arrive on time or early for 97% of trips, enhancing adoption in Delhi-NCR, Bengaluru, and Dubai, and contributing to carbon emission reduction and sustainable transportation in India.

Exicom acquires Tritium to expand global EV charger presence and R&D capabilities

Exicom Tele-systems Limited and its subsidiaries, including Exicom Power Solutions B.V. Netherlands, have announced a definitive agreement to acquire the business and assets of Tritium, a global DC Fast Charger manufacturer headquartered in Australia.

This acquisition includes Tritium’s manufacturing facility in Tennessee, USA, and its engineering centre in Brisbane, Australia, enhancing Exicom’s presence in Asia. It broadens Exicom’s global reach and strengthens its commitment to R&D, driving innovation in the EV industry. The combined product portfolios of Exicom and Tritium will support diverse global use cases and expand EV infrastructure adoption.

Tritium, founded in 2001, manufactures over 13,000 DC Fast Chargers across 47 countries. It designs and produces advanced, reliable liquid-cooled chargers with proprietary hardware and software, focusing on aesthetics, durability, and ease of installation and use.

NPCI surpasses 100,000 cross-border UPI transactions in Nepal, expands digital payment connectivity

NPCI International Payments Limited (NIPL), the international arm of NPCI, has achieved a significant milestone by surpassing 100,000 cross-border UPI person-to-merchant transactions in Nepal.

In collaboration with Fonepay, Nepal’s largest payment network, NIPL launched cross-border P2M UPI acceptance in March 2024, marking a new era of digital payment connectivity between the two neighbouring countries.

Nepali travellers can now use UPI payments through the UPI One World app, allowing them to pay at merchant locations by scanning QR codes. UPI is accepted in Bhutan, France, Mauritius, Nepal, Singapore, Sri Lanka, and the UAE. NIPL has partnered with Nepal SBI Bank Limited to introduce RuPay cards in Nepal, offering wide acceptance at ATMs, POS devices, and ecommerce sites.

KPMG names FluxGen as India’s top tech innovator in GTIC 2024

KPMG has named FluxGen Technologies as the winner of the 4th KPMG Private Enterprise Global Tech Innovator Competition (GTIC) 2024 – India Finale. FluxGen will represent India at the global finals at Web Summit 2024 in Lisbon, Portugal, where they will showcase their innovations and pitch their growth plans.

The KPMG Global Tech Innovator Competition (GTIC) is a global event that recognises and promotes tech startups, aiming to accelerate their growth by showcasing their innovations and solutions, supported by KPMG’s extensive business network.

Its Startups and Innovation team managed a competition attracting 23 countries, with 14 finalists presenting their innovations to a panel of top business and technology leaders in India, showcasing substantial participation from the tech startup community.

(This article will be updated with the latest news throughout the day.)