Inflection Point Ventures exits from Koovers
Inflection Point Ventures (IPV) has announced its full exit from Delhi-headquartered Koovers, with 47% IRR (Internal Rate of Return). IPV has experienced 2.1X month-on-month (MoM) growth within 22 months of its initial investment in the company.
This exit follows the acquisition of Koovers by the German automotive company Schaeffler India for over Rs 142 crore. IPV worked closely with Koovers to refine its strategies, shape its business model, and craft a strong fundraising and exit plan, the company said in a statement.
Koovers is a B2B ecommerce platform supplying auto parts to independent workshops and the aftermarket sector. The company aims to enhance the efficiency of the automotive aftermarket supply chain, ensuring customers have access to quality parts with ease.
StockGro to hire 100 interns
Social investment startup StockGro has launched its Big Leap internship programme with the capacity to accommodate 100 interns. The programme is designed to offer interns an immersive corporate experience within the finance sector, the company said.
StockGro will offer interns stipends up to Rs 1 lakh, and after evaluation, it will provide successful interns with a pre-placement offer based on their performance, offering them direct entry into the corporate sector. During the internship, interns will be a part of different teams that would give them an experience of varied branches of a financial organisation.
StockGro is a Bengaluru-based fintech startup that gives financial education to new users and helps them understand stock market investment without involving any real money.
C-Camp partners with Karnataka government to strengthen healthcare
The Centre for Cellular and Molecular Platforms (C-CAMP) has partnered with the Department of Health and Family Welfare Services, Government of Karnataka, to strengthen the state’s public health settings.
The two parties signed an MoU in the presence of Karnataka’s Health Minister, Dinesh Gundu Rao, who said the partnership will enhance diagnostic and screening services in the remote regions of the state, addressing the last-mile healthcare needs.
With this agreement, C-CAMP will work in close coordination with the National Health Mission, Karnataka, and the Directorate of Health and Family Welfare Services, to identify the critical gaps in the state’s public healthcare settings. The initiatives will range from pilot programmes to deployment of indigenously developed innovative solutions.
Swiggy, Goa government to launch Chavath e-Bazaar
Foodtech company Swiggy has signed an MoU with the Government of Goa to launch Chavath e-Bazaar on Swiggy Minis, a platform that helps small-scale entrepreneurs set up online stores.
Starting on September 16, Swiggy will create a special Chavath e-Bazaar section on Swiggy Minis, where consumers can buy festive-special homemade sweets such as modaks, nevris, laddus, and kapa, and snacks like chaklis, papads, farsan, namkeen nevris, masalas, and pickles prepared in the Goan style from the comfort of their homes.
Ahead of Ganesh Chaturthi, the Chief Minister of Goa, Pramod Sawant, unveiled the Goa Chavath e-Bazaar, listing products by local women entrepreneurs and self-help groups.
(This article will be updated with the latest news throughout the day.)
Edited by Suman Singh
