Sip on Startups: Grover's Comeback, Big Exits at Lightspeed, and Meta's AI Trials

Sit back and enjoy today’s piping hot news from the world of Indian startups. Ashneer Grover dives back into fintech with ZeroPe, while Meta tests AI chatbots in India. Lightspeed Venture Partners sees exits for Abhishek Nag & Vaibhav Agrawal, while Postman snaps up Orbit for smoother API deployment. 5C Network secures Rs 25.5Cr, led by Redwood India Healthcare Fund, adding fuel to the fundraising frenzy sweeping through India's startup landscape.

Keep reading to get the full scoop and unwind with our memes.

What Matters

“Guess Who’s Back, Back Again”: Ashneer Grover Takes The Fintech Route Again, Launches Lending Tech Platform ZeroPe

Guess who's back at it again? Ashneer Grover, the man with the fintech vision, is rolling out another app, ZeroPe, a lending tech platform. Teaming up with Delhi's NBFC Mukut Finvest, they're offering medical loans up to INR 5 Lakh, making healthcare more accessible.

ZeroPe has been developed by Third Unicorn, a company Grover launched after departing from BharatPe. With Third Unicorn's track record, including the hit CrickPe app, it's clear Grover's eye for innovation is sharper than ever. However, only time will tell if this endeavor also meets the same fate as BharatPe for Grover or not.

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“Karishma ka Karishma”: Meta Pilots AI Chatbot For Select Users In India

Remember the daily soap, “Karishma Ka Karishma” that aired in the early 2000s? Well, looks like Meta is leveling up its game with its own Karishmas, aka AI chatbots, and lucky users in India are getting a sneak peek. Dubbed 'Meta AI,' this brainchild of Meta, fueled by their cutting-edge LLaMA model, is set to revolutionize online interactions.

As the pilot program hits India's shores after its global debut last September, it's clear that Meta is serious about fine-tuning this futuristic tech for a diverse user base.

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“Dost Dost Na Raha”: Abhishek Nag & Vaibhav Agrawal Quit Lightspeed Venture Partners

Lightspeed Venture Partners bid adieu to Abhishek Nag and Vaibhav Agrawal, two key players instrumental in shaping its investment strategies.

The company has backed startups such as Oyo, Udaan, and Pocket FM. Abhishek Nag has transitioned to Mumbai-based 360 One, while Vaibhav Agrawal, a Silicon Valley stalwart, is set to start his own firm after spearheading Lightspeed’s US fund.

With Lightspeed's stellar portfolio boasting names like Razorpay and ShareChat, Nag and Agrawal are set to chart new territories, leveraging their expertise to drive innovation and growth in the startup ecosystem.

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“Please, Mr. Postman”: Postman Acquires Orbit To Help Developers & Enterprises Easily Deploy APIs

Exciting news in the tech world as Postman snaps up Orbit to streamline API deployment for developers and enterprises alike. With both teams pooling resources and expertise, we can expect big things in the API space.

Postman, born in 2014, has been a game-changer in the SaaS realm, empowering companies to ace API development and scale up seamlessly.

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“Inko Dua ki Nahi, Diagnostics ki Zarurat Hai”: 5C Network raises Rs 25.5Cr led by Redwood India Healthcare Fund

Bengaluru's 5C Network, a leader in medical diagnostics, just secured Rs 25.5 crore (around $3 million) in funding, spearheaded by Redwood India Healthcare Fund. Their innovative platform is reshaping the landscape of medical imaging in India, offering hospitals streamlined solutions for radiology image management and analysis.

With the issuance of over 2,72,000 Compulsorily Convertible Preference Shares (CCSPS), as disclosed in official documents, 5C Network signals a bold resurgence in investor confidence after a hiatus of over 17 months.

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Fundraising and Financials

1. Arrivae, the interior design solutions startup, has scored INR 21 crore from CaratLane's Mithun Sacheti in its latest equity round, bolstering its Series B funding. Valuation remains undisclosed for this injection of capital.

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2. ClaimBuddy, with a mission to streamline healthcare financing, secures $5 million in Series A funding, spearheaded by Bharat Innovation Fund.

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3. Butterfly Learnings secures INR 32 crore in funding to expand its offerings in therapy and support services for children with neurodevelopmental disorders. Insitor Impact Asia Fund and Enzia Ventures lead the investment round, with support from other prominent investors.

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