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JITO Incubation and Innovation Foundation invests in Navars Edutech

JITO Incubation and Innovation Foundation (JIIF), a community-based angel network, has invested an undisclosed amount in Navars Edutech, a space education, product development and research-focused startup. It had earlier raised an angel funding round through Faad Network. 

The startup, founded in 2019, claims to have reached out to over one lakh students across 1,000 schools in 13 countries, enabling astronomy and space education through its advanced courses for K12 and undergraduate students, space lab setups at schools, global contests in student satellite programmes, and national space innovation challenge.

Dinesh Prasad, Co-founder of Navars Edutech, said, “This strategic partnership reaffirms our commitment to shaping the future of space education and underscores the collective determination to empower the next generation of space leaders. With JIIF’s investment, we are poised to accelerate our efforts, making significant strides towards transforming dreams into astronomical achievements.”

Atypical Advantage raises Rs 1.6 Cr seed round

Hiring platform for people with disabilities, Atypical Advantage, has raised Rs 1.6 crore from a group of existing and new investors, including Ravi Venkatesan (former Chairman, Microsoft India) and Nachiket Shelgikar (Co-founder, Micro Housing Finance Corporation Limited). The company will use the funds to strengthen its team and technology.

The company, founded by IIM Bangalore alumnus Vineet Saraiwala in 2020, had earlier raised Rs 1 crore from angel investors, including Mohan P Alexander (Co-founder, Amba), Rohan Bhansali (Co-founder, Gozoop), Sadashiv Nayak (CEO, Future Retail Limited), Lokesh Bharwani (Founder, Mad Over Donuts), Sashi Rajamani, and Revati Sharma Singh, among others. 

From sourcing, skilling, and post-placement support, Atypical Advantage is an end-to-end platform that works with corporates to increase the representation of people with disabilities in the workforce.

It has worked with firms like Brookfield Properties, Vedantu, Burger King, Tokyo Edelweiss, Accenture, Annarock, Arvind Mills, RMZ Galleria, Tata Steel, Thoughtworks, Zensar, and The Man Company. 

“The only way to end the stigma and marginalisation faced by people with disabilities is by generating dignified income for them. We are grateful to all our investors for placing their trust in our vision,” said Founder and CEO Vineet Saraiwala.

Other news

Food delivery platform Justmyroots acquires The State Plate to expand portfolio

Intercity food delivery platform JustMyRoots has acquired The State Plate (TSP), which operates in the non-perishable packaged food segment.  

The deal is a part of the former’s plan to increase its presence in the packaged intercity food market across India.

TSP was featured on Shark Tank India Season 1 and went on to receive funding from Lenskart CEO Peyush Bansal. The company has also raised pre-seed capital from venture capital fund Antler India at nearly a $2 million valuation. In July, former Indian cricketer Sourav Ganguly also picked up a minor stake in JustMyRoots. 

Under the terms of the deal, TSP founders Muskaan Sancheti and Raghav Jhawar will integrate into the JustMyRoots team and will continue to spearhead and manage the TSP brand.

Speaking on the deal, Muskaan Sancheti, Co-founder and CEO of The State Plate, said, “As the market for regional food is also highly unorganised, no single brand exists for many local staples, spices, pickles, snacks, etc. We are building a business model suited perfectly to meet the needs of the highly diverse Indian community, each with its own food habits, cultures, festivals, and traditions.” 

MobiKwik launches Account Aggregator-backed feature Lens   

Fintech firm MobiKwik launched a new feature on its app—Lens—which allows users to get a 360-degree view of their money across investments, insurance, and pension funds. 

Lens leverages the Account Aggregator (AA) framework that helps users share data across financial institutions in a secure and efficient manner. The platform claims to use advanced technology and data science to make complex financial data “digestible and actionable”.

“Lens addresses the fundamental aspects of financial wellness–awareness and control over one’s money. Our research showed that it’s difficult for individuals to monitor their financial inflows, outflows, and transactions at a granular level. Lens empowers informed decision-making, enabling users to make proactive choices about their finances,” said Co-founder and CEO Bipin Preet Singh. 

Users can have an overview of their net worth with transaction details, smart categorisation of incoming and outgoing money, and trends of bank account balance, spending, investments, and repayments. They can download their bank statements and understand their upcoming bills, recurring payments, and expenses to better budget their monthly spending. 

For instance, a feature called ‘Highlights’ provides prompts and alerts on bill payments, expected refunds, changing expense patterns, and more.  

Nutraceutical firm OmniActive looks to increase collaboration with farmers 

Global nutraceutical player OmniActive Health Technologies, which partners with farmers in Karnataka to grow marigold and paprika, is planning to explore states like Maharashtra, Madhya Pradesh, and Tamil Nadu for similar collaborations, a senior company executive said.

The company extracts lutein from marigolds and zeaxanthin from paprika, which are used in eye health supplementation.

The company is also exploring the cultivation of its hybrid seed programme by including crops such as alpinia, galanga, blue ginger, ashwagandha, and turmeric ginger, among others, Executive Chairman and Managing Director Sanjaya Mariwala, said.

Talking about the business, Mariwala said, the company has 15-20 products mostly used by pharmaceuticals and FMCG companies for manufacturing health supplements.

“The majority of our business is derived from exports (90%) to developed markets like the US, Europe, Japan, Taiwan, and South Korea. We provide 15-20 products. The domestic market (10%) is still very small. However, the Indian nutraceutical market is growing,” he said.

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