Commut offers trips at a third of what a ride-sharing service will cost. The mini bus aggregator has already raised $200,000 from 50K Ventures. Sudhakar Pasupunuri, co-founder of RedBus, one of the largest online bus ticketing platform, is on Commut’s board.
THE MINI-BUS STARTUP TRYING TO SOLVE HYDERABAD’S COMMUTE PROBLEM
CAN TECHNOLOGY FINALLY MAKE RICH INDIANS TREAT THEIR MAIDS LIKE HUMAN BEINGS?
Sinhal was only highlighting the hard truth of India’s domestic help—cooks, maids, cleaners, baby-sitters etc—industry, where there’s no concept of a minimum wage and ill-treatment by employers is rampant. However, Sinhal’s venture has been trying to formalise hiring, and provide dignity to the labour force by organising India’s hugely fragmented domestic help sector.
P2P LENDING STARTUP I-LEND RAISES PRE-SERIES A FUNDING FROM 50K VENTURES
Operating on a marketplace model, the Hyderabad-based company connects borrowers and lenders to facilitate personal loans of Rs 25,000 to Rs 5 lakh for six to 36 months. Members can offer a minimum advance of Rs 10,000.
50K VENTURES TO INVEST $1 MILLION IN EMERGING INDIAN TECH STARTUPS
The programme, which is open to both early-stage startups and the ones which have a proof of concept ready, not only entails financial support but also provides 18 months of mentoring and go-to-market access. The mentors plan to work with the startups till they hit scale and attract the next round of investors.
IIIT HYDERABAD SEED-FUNDS FIVE EARLY STAGE STARTUPS WITH INR 10 LAKH
Avishkar, the incubator run by the Indian Institute of Information Technology, Hyderabad (IIIT-H), announced that is has seed-funded five early stage startups with INR10 lakh each in partnership with 50K Ventures. The accelerator would take up 2% equity stake in the start-ups by converting the seed fund into convertible debenture subscription accelerator.
VIRTUAL REALITY STARTUP RAISES ABOVE $180K FROM 50K VENTURES, ASTARC & OTHERS
The founders developed a Virtual Reality HeadMount Device called Tesseract along with proprietary patent pending algorithms. The device can convert any media or game to Virtual Reality and simulate it on HMD – Tesseract. The company has now pivoted into Norah AI.
ABSENTIA RAISES RS 8 CR FROM EXFINITY VP & OTHERS
Absentia is using the funds to build Norah AI, an artificial intelligence engine that can create interactive content for games with minimal human intervention.