Drone Destination Set To Elevate Drone Sector, CarDekho Backs Carrum, Delhi HC Pushes Rapido To Improve App Accessibility and more

Drone Destination is set to elevate India’s drone sector with its new e-commerce platform, while CarDekho is backing Carrum to enhance its mobility portfolio. MyGate is venturing into consumer electronics with smart door locks, and LetsVenture is launching a debt financing marketplace to support startups. GlobalBees is bolstering its presence by increasing stakes in Frootle India and Wellspire India, and Delhi HC is pushing Rapido to improve app accessibility for the disabled. Meanwhile, NABARD and the government are championing agri-startups with a substantial Rs 750 crore fund.

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What Matters

“Haan Yahi Sapna Hai Tera”: Drone Destination Unveils Ecommerce Platform To Boost India’s Drone Space

Drone Destination has launched 'Drone Hub,' an e-commerce platform designed to cater to India's expanding drone market. With a focus on addressing supply chain challenges, the platform offers a comprehensive range of drones, parts, consumables, avionics, and BIS-approved batteries.

This move aligns with Drone Destination's '#EverythingDrones' initiative, aiming to streamline access to critical drone-related products in a rapidly evolving industry.

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“Hum Saath Saath Hai”: CarDekho Group Invests In Carrum To Drive Mobility Portfolio

CarDekho Group has strategically invested in Carrum, a fleet management services startup, to enhance its sustainable mobility portfolio, though the deal's financial terms remain undisclosed.

This partnership aims to advance Carrum’s initiatives in decarbonization, improve fleet management efficiency, and support better livelihoods for drivers. This investment follows CarDekho's acquisition of a majority stake in Revv last December, solidifying its commitment to the shared mobility space.

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“Mauja Hi Mauja”: Mygate Enters Consumer Electronics Space With Launch Of Smart Door Locks

MyGate has ventured into the consumer electronics space with the launch of MyGate Locks, allowing users to manage home access remotely through its app.

Available in three variants—Lock SE, Lock Plus, and Lock Pro—the new products aim to enhance convenience and security. This move comes as MyGate reports a 35.3% rise in operating revenue for FY24, reaching INR 96.2 crore.

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“Janhit Mein Jaari”: LetsVenture Floats Debt Financing Marketplace For Startups

LetsVenture has launched LV Debt, a new marketplace aimed at educating founders and providing debt financing options for startups. The platform will offer a range of financial solutions, including working capital loans, revenue-based financing, supply chain financing, and venture debt.

To further support its partners, LetsVenture is also introducing a $70 million non-convertible debenture through its angel fund, reinforcing its commitment to diverse funding avenues.

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“Humara Bhi Haan Hai”: GlobalBees Raises Stakes In Frootle India, Wellspire India

GlobalBees has raised its stake in Frootle India and Wellspire India, acquiring an additional 23% in each for a combined investment of INR 106.2 crore. This move boosts its shareholding from 51% to 74% in both companies, further solidifying its presence in their markets.

The investment aligns with the growth strategy of FirstCry's founders, Supam Maheshwari and Amitava Saha, who are behind this expanding venture.

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“Maamla Legal Hai”: Delhi HC Asks Rapido To Ensure App Accessibility For Persons With Disability

The Delhi High Court has directed Rapido to ensure its app is accessible for persons with disabilities, requiring an audit report from an "access auditor" by November 28.

In response, Rapido has committed to updating its app within the next 6-8 months to meet the accessibility standards outlined in the Rights of Persons with Disabilities Act, 2016. This directive follows a writ petition highlighting the app's current accessibility shortcomings for people with disabilities.

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“Sabka Saath, Sabka Vikas”: NABARD and govt launch Rs 750 Cr AIF fund to support agri-startups

NABARD, in collaboration with the Ministry of Agriculture and Farmers Welfare, has launched AgriSure, a Rs 750 crore alternative investment fund to boost early-stage agri-startups.

With Rs 300 crore earmarked for direct startup investments and Rs 450 crore set aside as a fund of funds for venture investors, AgriSure aims to strengthen the agriculture and allied sectors. This initiative underscores the government's commitment to fostering innovation and growth in India's agritech landscape.

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1. Theater, a women's fashion startup, has raised $1.5 million in Pre-Series A funding led by Prath Ventures to expand into quick commerce and enhance its offline presence. This investment reflects rising investor interest in India's women's fashion market.

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2. Semiconductor startup BigEndian has secured $3 million in seed funding led by Vertex Ventures SEA & India to accelerate its development of system-on-chip (SoC) solutions. The investment will help BigEndian advance its goal of creating globally competitive semiconductors.

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3. 0xPPL, a platform focused on social networking in the on-chain world, has closed a strategic funding round led by Peak XV Partners, AllianceDAO, and Anagram, with participation from prominent figures like Balaji Srinivasan and co-founders from Solana and Polygon.

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4. Cleantech startup ReCircle has secured an undisclosed amount in a bridge funding round co-led by Venture Catalysts, Mumbai Angels, and various high-net-worth individuals. This investment, supported by Flipkart Ventures, will fuel ReCircle's ongoing growth and innovation efforts.

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5. Infratech startup Mytek Innovations has raised Rs 6 crore in debt funding to support its expansion efforts. The AI-driven EPC and manufacturing marketplace plans to utilize the funds to scale its operations and enhance its offerings.

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