Funding news
Wootz.work raises $3.5M led by Matrix Partners India and Nexus Venture Partners
Wootz.work has secured about $3.5 million in a seed funding round led by prominent investors Matrix Partners India and Nexus Venture Partners.
The round also saw participation from AdvantEdge and Mars Shot Ventures (Razorpay Founders’ Fund) and 30 angel investors, including Ramakant Sharma (Livspace), Sanjiv Rangrass (former IT Director at ITC), Vikrampati Singhania (JK Group), and the founders of Zetwerk.
The company will use the funds to assemble its initial team, advance technological capabilities, and fortify its market presence in the US and the UK.
Established in March 2023 by Karan Anand and Himanshu Uniyal, Wootz.work emerged from a necessity for a swift, frictionless, and dependable global procurement avenue.
Anand, Co-founder and CEO, said, “We are convinced that the conditions have never been better for India and Southeast Asia to emerge as a global manufacturing hub for light engineering products. However, tapping this opportunity for SMEs is not as straightforward given their scale, differing engineering standards, regulatory environments, market distances, and the imperative of robust after-sales service. Our goal at Wootz.work is to address this need and build at scale to become a trusted, enduring procurement channel for our global customers.”
Other news
India’s UAM infrastructure market to reach $6.2M by 2033: BIS Research Report
The India Urban Air Mobility (UAM) infrastructure market is anticipated to achieve a valuation of $6.2 million by 2033, growing at a compound annual growth rate (CAGR) of 22.38%, BIS Research said in a report.
UAM envisions the seamless integration of aerial transportation services into urban transit systems, offering efficient and rapid mobility solutions.
The report forecasts a consistent growth trajectory for the Indian UAM Infrastructure Market, especially in the passenger and cargo gate-to-gate operations, spanning from 2023 to 2033.
The report anticipates a CAGR of 26.83% ($3.1 million) for passenger gate-to-gate operations, 18.55% ($2.5 million) for cargo gate-to-gate operations, and 29.81% ($0.6 million) for hybrid passenger and cargo gate-to-gate operations by 2033.
Although the UAM market in India is in its early stages, it holds substantial potential for expansion. The report also delves deeply into the physical infrastructure sector of UAM.
23% annual jump in staffing requirements ahead of festive season: Quess Corp
Quess Corp on Tuesday said there has been a 23% surge in staffing needs during the period of April to August 2023 compared to the same time last year in anticipation of the upcoming festive season.
This rise in demand has led to the posting of about 32,000 job positions across various sectors, including BFSI, M&I, retail, and telecom, all of which have heightened their recruitment efforts to align with the heightened demand expected for the festive period in India.
Based on insights provided by Quess, job profiles such as production trainees, branch relationship executives, collection officers, business development executives, broadband sales executives, sales executives, warehouse associates, and customer relationship officers have all witnessed an upswing in demand during this season.
Dr Manmohan Singh joins Nirvasa Healthcare as Vice President, Medical Affairs
Nirvasa, a digital health clinic specialising in various medical fields, has appointed Dr Manmohan Singh as its Vice President of Medical Affairs. In his new capacity, he will take charge of shaping the company’s strategic direction for medical affairs.
Singh has a proven track record of building digital engagement and programmes catered towards chronic disorders, including diabetes, bone health, coronary artery disorder, and overall women’s health. His expertise in epidemiology, medical affairs, clinical research, project management, digital therapeutics, liaison, and communication, will help Nirvasa scale and expand its digital healthcare services further.
Amitoz Singh, Founder and CEO of Nirvasa, said “Being a seasoned healthcare professional with a deep understanding of the evolving digital healthcare space makes him an invaluable asset to our company. I am very confident that Dr Singh’s expertise and vision will help us achieve Nirvasa’s mission of making high-quality personalised treatments and comprehensive care accessible to everyone in the country.”
(This article will be updated with the latest news throughout the day.)
Edited by Suman Singh
