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Funding news

Finance startup Black Opal raises $3M

Real estate-focused finance startup Black Opal Group has raised $3 million in funding from SBI, HDFC Bank, and other investors.

The company said it will use the funds to launch more services and hire for its integrated tech platform, JustHomz.com.

The JustHomz app has over 5,000 customers, over 250 verified channel partners, and more than 240 verified projects. The company aims to add over 1 lakh customers and disburse $3 million to $5 million in loans over the next three to six months.

Black Opal assists people in buying homes through research, technology, and credit access. A profitable company with $1.75 million in profit after tax, the company has earned $4.5 million in revenue.

Other news

IKEA to deliver in 62 new districts in India

Swedish home furnishing retailer IKEA will now deliver to 62 more districts across India, especially in Maharashtra, Karnataka, Telangana, and Andhra Pradesh.

Customers in these 62 new districts will be offered over 7,500 products to choose from, and they can be ordered on the app, online, or through the ‘shop by phone’ assistance service.

“Expanding our reach further in these markets means making IKEA more accessible to our customers, more convenient, and truly omnichannel,” said Susanne Pulverer, CEO & Chief Sustainability Officer at IKEA India.

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The Circle: Founders Club launches accelerator programme for water-tech companies

The Circle: Founders Club has launched a business accelerator for 10 water-tech companies, in collaboration with the Embassy of Israel and IDE Technologies.

The Water Challenge Accelerator focuses on startups that address critical water-related issues in India—from water for agriculture to affordable water purifiers.

The 10 startups that have enrolled for the programme are Phyfarm, Aumsat, Hydrotec Solution, Nimble Vision, Waterlab Solutions, Hygienity Solutions, Biofilm Engineers, EcoEnso, Watsan Environtech, and iSync.

The programme provides tech validation support, helps founders refine their go-to-market strategies, and offers fundraising opportunities.

IDE Tech, Absolute, Kristnam Technologies, Hunch Ventures, Omnivore Partners, Speciale Invest, MITCON, and Enviraj Consulting will provide mentorship to the cohort of companies.

“In a world where water scarcity is a looming challenge, we are dedicated to supporting startups driving change, pushing the boundaries of innovation and ensuring that India emerges as a global leader in water-tech solutions,” said Nemesisa Ujjain, VP of Innovation, The Circle: Founders Club.

PhonePe’s Indus Appstore launches startup awards in collaboration with Startup India

PhonePe‘s Indus Appstore has launched the Indus Appstore Emerging Startup Awards in collaboration with Startup India to identify and celebrate innovative companies across key sectors such as fintech, e-commerce, social impact, agritech, healthtech and gaming.

Startups registered under the Startup India initiative, operating for a year, at least, and having their applications listed on the Indus Appstore Developer Platform will be eligible to participate, said PhonePe.

Winners in each category will be given Rs 2 lakh. They will also get entry into the Indus Accelerate Program, which will help the companies better their apps and grab more eyeballs.

“Our goal is to foster a vibrant ecosystem where Indian entrepreneurs can thrive and create solutions that cater to our unique market,” said Akash Dongre, Co-founder and CPO of Indus Appstore.