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Funding news

Social network Amealio secures undisclosed pre-seed funding from SucSEED

Amealio—a community-led platform for food and entertainment—raised an undisclosed pre-seed funding round from SucSEED Indovation Fund and ISF Angels led by JA Chowdhary and other angels.

The hyperlocal social network enables users to engage in conversations about food, entertainment, and lifestyle, and build active communities. It currently has pilot partnerships with Dunzo and PetPooja and pilot projects with several firms in Tier II and III towns, according to a statement.

“… Powered by AI, Partnership, and ONDC, Amealio fosters new friendships, reveals hidden gems, and experiences, and creates unforgettable memories. He emphasises the platform’s significance in revitalising local communities and redefining how people connect within neighbourhoods. This is how Amealio is filling in a previously existing gap,” Shaker Dixit, Founder and CEO of Amealio, said.

“We are excited to invest in Amealio as it has a unique combination of corporate veterans with first-hand experience in running/owning multiple restaurants across India and the US, and the people who are deeply passionate about food and customer satisfaction on one platform…,” Dhiraj Kumar Sinha, General Partner of SucSEED Indovation Fund, added.

Other news

Inflection Point Ventures launches accelerator programme for early-stage startups

Venture capital firm Inflection Point Ventures has rolled out a six-week accelerator programme for early-stage startups, designed for entrepreneurs seeking to take their business from the idea stage to the MVP (minimum viable product) stage.

Out of 2,000 expected applicants, 100 will be shortlisted for the IPV Ideaschool Batch 1 programme initially, and 40 of them will proceed to be an active part of the discussion in the accelerator programme. The startups will be evaluated through several rounds across multiple parameters.

At the final stage, the top 15 startups will get a chance to showcase their respective business ideas to a jury. The final five startups emerging from this set stand to bag Rs 80 lakh as investment and an opportunity to become part of the IPV portfolio, the firm said in a statement.

Applications for this opportunity will be open until January 20, 2024.

“IPV Ideaschool—the highly curated programme aims to give an edge to the startups as they will not only secure early-stage funding but also get an opportunity to grow and scale their business rapidly with strategic guidance and IPV’s rich network. At IPV, we are looking for startups that add value to our economy and have sustainable ideas..,” Mitesh Shah, Co-founder of Inflection Point Ventures, said.

TechnoSport signs MoU with Tamil Nadu government for setting up activewear factory

Chennai-based activewear brand TechnoSports has signed a pact with the Tamil Nadu government to establish a factory in Erode district. The facility—poised to commence production by March 2024—will specialise in technical textiles, harnessing technologies from Germany, Japan, Italy, and Taiwan. 

Boasting a daily capacity of 25 tonnes, the mega factory is anticipated to create over 2,000 jobs in the next four years, the company said.

Barista Coffee opens its 400th outlet in Delhi

Barista Coffee has hit the milestone of setting up 400 outlets in India after opening its latest store in Rajiv Chowk, Delhi. 

Founded in 2000, Barista is a leading chain of espresso bars and cafés in India that competes with Third Wave Coffee, Tata-backed Starbucks, and Blue Tokai Coffee Roasters.

“As we expand our presence and strengthen our network reach, the key focus is on guest engagement and consistency in our services. Rajiv Chowk is a unique location, which showcases the brand to a larger universe that commutes through the metro network. I am sure this would become a preferred place for travellers as a perfect meeting hub,” Rajat Agrawal, CEO of Barista Coffee, said.

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