AI Academy India Program, Hero MotoCorp’s New Accelerator, Awfis’ Woes, and Honasa's Price Spike

Honasa Consumer's shares have surged by 10%, hitting the upper circuit after a rocky spell, while 22 promising AI startups have been selected for IIMA Ventures’ AI Academy India Program, backed by Google. Hero MotoCorp is fueling innovation with a new accelerator for mobility startups, offering up to $350K in cloud credits and mentorship. However, the mood isn't entirely upbeat as Awfis reports an insider trading breach by a senior executive, adding a layer of complexity to its corporate narrative.

Grab your simmering cup of StartupChai.in and unwind with our hand-brewed memes.

“Sapne Dekhna Buri Baat Nahi Hai”: 22 Startups Selected For IIMA Ventures’ AI Academy India Program

The AI Academy India 2024, a collaboration between IIMA Ventures and Google for Startups, has unveiled its inaugural cohort of 22 AI startups from Gujarat.

These trailblazers will gain mentorship, training, and up to $350K in Google Cloud credits to revolutionize sectors like healthcare, fintech, and climate tech. With plans to expand to six cities through top-tier partners, the initiative is a major boost for India’s AI ecosystem.

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“Babuji Zara Dheere Chalo”: Awfis Reports Breach Of Insider Trading Norms By Senior Executive

Awfis has flagged a breach of insider trading norms by its VP of sales, Anandita Seal Sarkar, over an unapproved share purchase.

The audit committee is reviewing the matter, signaling potential action in line with its conduct code. Ironically, this development follows IIFL Securities’ bullish coverage of the startup with a ₹980 price target.

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“Hum Mein Hai Hero”: Hero MotoCorp Launches Accelerator For Mobility Startups

Hero MotoCorp has launched Hero For Startups, a 12-month accelerator program aimed at driving innovation in the automotive industry.

Selected startups will gain access to Hero’s R&D facilities in Germany and India, fostering breakthroughs in technology and sustainability. With a focus on transformation and collaboration, it’s a leap toward reshaping mobility for the future.

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“Stayin’ Alive”: Honasa Consumer Shares Jump 10% To Hit Upper Circuit

Honasa Consumer's shares rebounded sharply today, hitting the upper circuit of 10% at ₹251.55, marking a rare respite after recent turbulence.

The stock had nosedived 40% over six sessions, plunging from ₹369.75 on November 14 to ₹225.35 by November 26. While today’s rally signals investor optimism, the recovery path remains uncertain.

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1. Stellaris Venture Partners has closed its third India-focused fund at $300M, backing startups like Mamaearth and Whatfix. The fund bolsters its mission to fuel India’s next wave of entrepreneurial growth.

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2. Nazara Technologies, India’s sole listed gaming firm, has raised ₹855 crore through a preferential issue. Key investors include SBI Innovative Opportunities Fund and Think India Opportunities Master Fund LP.

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3. Miko, the robotics startup from Emotix, is set to raise ₹28 crore in a fresh Series C tranche. This funding comes just three months after its previous round, signaling steady investor confidence.

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4. Hyderabad-based water-tech startup Althion has secured ₹3.6 crore in a pre-Series A round led by BioAngels and prominent investors. This follows its earlier $180K funding from C-CAMP, boosting its innovative water solutions.

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5. Homversity, a student housing platform, has raised $1 million in a pre-Series A round led by Shuru-Up, IPV, and others. This funding builds on its earlier $378K round, accelerating its growth in the student living space.

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