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Noida, India - Redcliffe Labs, an omnichannel diagnostics service provider, has secured $42 million in a Series C funding round led by IFU, a Denmark-based investment firm, which contributed $20 million. The funding round also saw participation from existing investor LeapFrog, which added $15 million, and support from existing shareholders, including HealthQuad and Spark Growth Ventures. This latest investment follows Redcliffe Labs' previous funding rounds, including $61 million in Series B in May 2022 and $10 million in Series A in April 2021. Notable investors such as Schroders, LC Nueva, Chiratae Ventures, and Alkemi Venture Partners also participated in earlier rounds. The fresh capital will enable Redcliffe Labs to drive its expansion plans, particularly in tier II and III cit...

Venttup, a cutting-edge Industries 4.0 startup, has made headlines with the acquisition of seed funding from Unicorn India Ventures. This investment will propel the company's growth and enhancements in its indigenisation program management. Founded by a team of visionary entrepreneurs, Sandeep Nair, M. Wasim Ankli, and Joseph Panakkal, Venttup is on a mission to disrupt the manufacturing landscape by connecting millions of MSMEs on a single digital platform. By providing a robust supply chain, Venttup empowers these businesses to boost their operational efficiency. With a focus on cloud manufacturing and sustainable practices, Venttup assists large enterprises in outsourcing their engineering needs, reducing their carbon footprint while also enabling localized production of critical...

The Indian Institute of Management Ahmedabad (IIMA) incubator, IIMA Ventures, has announced the launch of Growth Accelerator 2.0, a program designed to drive exponential growth for small and medium enterprises (SMEs), family businesses, and growth-stage startups. The program aims to equip participants with the tools and expertise needed to scale their businesses and achieve strategic growth. What is Growth Accelerator 2.0? Growth Accelerator 2.0 is a comprehensive program that provides a range of interventions, including knowledge sessions, masterclasses, workshops, founder talks, diagnostic panels, and mentoring clinics. The program is designed to be highly interactive and hands-on, with a focus on helping participants operationalize growth opportunities in a practical manner. K...

Bengaluru-based construction goods and services platform Infra.Market has raised Rs 150 crore (approximately $18 million) in its Series E2 funding round, just three months after announcing $50 million from the Mars Fund. The company's board has passed a resolution to issue 7,028 Series E2 preference shares at an issue price of Rs 213,438.7 each to raise the additional funds. The fresh infusion brings the total amount of funding secured by the Tiger Global-backed company to Rs 236.3 crore. The company has already received Rs 76.3 crores from the new funding, with Amit Vijaysinh Barad and Barad Sanjay Amarsinh investing Rs 45 crores together, while the remaining funds were contributed by various individual shareholders. Importantly, Infra.Market has also secured Rs 75 crore ($9 millio...

Amazon Web Services (AWS) has chosen seven Indian startups that specialize in generative AI for its global accelerator program. The startups, which were selected from a pool of 80 global companies, will receive up to $1 million in AWS credits to develop, train, test, and deploy their AI solutions. The selected startups are: Convrse: An AI-based tool that optimizes complex 3D objects or scenes for web or real-time applications, serving industries such as gaming, architecture, manufacturing, healthcare, and simulations. House of Models: A company that leverages large language models (LLMs) and diffuser models to generate digital content for brands and businesses, including images, videos, and product descriptions. Neural Garage: A deep technology company that uses AI to streaml...

Gurugram-based Direct-to-Consumer (D2C) tech accessories and lifestyle brand DailyObjects has raised a significant Rs 86 crore in a new funding round from 360 One Ventures. This fresh investment brings the company's total Series B funding to a staggering $10 million, after a gap of 30 months. The funds will be used to meet the company's working capital requirements, fuel future expansion, and cater to other general corporate purposes. DailyObjects plans to maximize the utilization of these proceeds to maintain its competitive edge in the market. The board of DailyObjects has approved the issuance of 8,118 compulsory convertible preference shares worth Rs 72 crore to raise the required funds. The company's regulatory filings with the Registrar of Companies (RoC) confirm this developm...

E-commerce focused packaging company Bizongo has appointed three new CEOs to head its raw material marketplace BizongoBuy and embedded supply chain finance platform BizongoFin. The company has also strengthened its leadership by appointing a Chief Technology and Product Officer (CTPO) and a Chief Financial Officer (CFO). Kiran Dev, an ex-banker, has been named CEO of BizongoFin, the fintech arm that provides embedded supply chain financing solutions to address the $300 billion unmet SME credit needs. Dev brings with him a wealth of experience in banking and finance. Prahlad Krishnamurthi, who recently stepped down as Chief Business Officer at Cleartrip, has joined as the CEO of BizongoBuy, the integrated B2B marketplace for SMEs to buy raw materials. Gaurav Singhania has been appoin...

WROGN, the men's apparel brand backed by cricket icon Virat Kohli, has faced a significant decline in revenue and profits over the past year, with its revenue plummeting by 29.2% and losses rising 28.2% to Rs 56.76 crore. Despite attempting to cut costs, the company's overall expenditure decreased by 24.7% to Rs 305.56 crore, but its outstanding debt surged to Rs 636.58 crore. Key Highlights: WROGN's revenue from operations dwindled to Rs 243.75 crore in FY24, a 29.2% drop from Rs 344.3 crore in FY23. The company's losses jumped to Rs 56.76 crore in FY24, a 28.2% increase from Rs 44.26 crore in FY23. Cost of materials accounted for 53.6% of total expenses, which slid 29% to Rs 163.91 crore in FY24. Employee benefits expenses decreased by 7.5% to Rs 32.26 crore, while commi...