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IDC Kitchen secures Rs 1.5 Cr in funding from Velocity

Bengaluru quick service restaurant (QSR) IDC Kitchen has secured Rs 1.5 crore in funding from Velocity, a financing platform backed by Peter Thiel’s Valar Ventures.

The funds will be directed towards marketing initiatives and other inventory-related expenses.

“The rise of online food ordering and factors, such as low start-up costs, ease of operations, and localized menus, are expected to drive the growth (in the QSR space) in coming years. Given the favourable demand outlook, the domestic QSR industry is looking at aggressive store capex over the medium term,” Velocity said in a statement.

Established in 2012, IDC Kitchen has 11 locations in Bengaluru, 2 in Mumbai, and 1 in Raichur making Rs 30 crore in revenue per annum. It specialises in South Indian cuisine such as Idli, Dosa, and Coffee.

“I am confident that this infusion of funds will not only fuel IDC’s brand growth but also set new benchmarks in the restaurant and QSR industry,” Atul Khichariya, COO & Co-founder of Velocity, said.

Neo-Bank Fero secures debt from SIDBI

Freo, a digital banking platform, has secured an undisclosed debt investment from SIDBI, marking the financial institution’s inaugural venture into the fintech sector.

The funding arrives as Freo gears up for rapid expansion, aiming to deepen its footprint in India’s burgeoning fintech market.

“We’re extremely excited to initiate this partnership with SIDBI, marking a pivotal moment in Freo’s evolution. This collaboration isn’t just a significant achievement for us; it symbolizes the beginning of what we anticipate will be a long and fruitful relationship,” Anuj Kacker, Co-founder, Freo, said.

SIDBI actively invests in various sectors, including mobility, startups, and Micro, Small, and Medium Enterprises (MSMEs). It manages several Fund of Funds (FoF) programmes on behalf of the Indian government and state governments. These programmes aim to boost startups and MSMEs by investing in SEBI-registered Venture Funds and Alternative Investment Funds.

Newton School appoints key executives to bolster AI and ML departments

Edtech platform Newton School appoints two key executives, Prashant Kohli as Senior Director Marketing and Paridhi Agarwal as Assistant Vice President-Business.

Paridhi Agarwal, with 14 years of business management experience, joins from Flipkart where she led category teams in lifestyle segments. At Newton, she will head the Data Science department, focusing on driving growth and customer experience through outcome-based learning.

Prashant Kohli, an engineer turned marketeer with a diverse background spanning multiple sectors, brings his expertise to brand building and growth strategies.

“Today, new age technologies like AI and ML have become an integral part of our lives and to fulfil the evolving demands of the industry, Newton is focused on bridging the gap between traditional education and industry demands,” the company said in a statement.

T-Hub announces 12 startup cohort for LAB32

Startup incubator T-Hub, in partnership with Hexagon, has announced the latest cohort of its flagship program, LAB32.

The 100-day program will focus on AI-driven innovations in Digital Twin, Real-Time Language Translation, and Predictive Maintenance.

The collaboration aims to provide selected startups with mentorship in Go-to-Market strategies and access to valuable resources and partnerships. Twelve startups were chosen out of over 230 applications.

With the latest cohort, LAB32 has supported overall 300 startups and securing over $410 million in funding.