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HomeUncategorizedStartup news and updates: daily roundup (May 2, 2023)

Startup news and updates: daily roundup (May 2, 2023)

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HYPD raises $4M in pre-Series A round led by Orios Venture Partners

Content-to-commerce platform HYPD has secured $4 million (Rs 32 crore) in a pre-Series A funding round led by Orios Venture Partners. Existing investors Sauce VC and Better Capital also invested in the round.

The Delhi-based firm will use the funds to get creators, introduce new categories, and grow its product and tech teams, it said in a statement on Tuesday.

Launched in 2022 by by Ashwarya Garg and Akshay Bhatnagar, HYPD enables creators to build multi-brand digital storefronts inspired by their content, through which they can curate products and services for their followers on social media. The firm said it has seed a 40-fold growth in gross merchandise value (GMV) in the last year.

“There has been a global explosion of creators harnessing the power of their self-built online communities. By leveraging their own distribution, creators will directly be responsible to drive 30% to 40% of all ecommerce, in this decade. Hypd is here to enable an attribution system and a fair share of profit to the creators, for this change,” said Ashwarya Garg, Co-founder of Hypd.

Ohm Mobility raises $366K in pre-seed round led by Antler India

EV financing firm Ohm Mobility has secured $366,000 (Rs 3 crore) in a pre-seed funding led by Antler India. This marks Antler’s first EV investment in India.

Blume Founders Fund and angel investors such as Sagar Gubbi (Ecoforge), Anshuman Bapna (, Mathew Chako (Spice Route Legal) also participated in the round.

The Bengaluru-baseed firm will use the funds to build its proprietory risk management tool and technology-enabled platform for EV financing, which will help connect EV players with financial institutions, it said in a statement. This risk management tool gathers and assesses a host of data including the health of the fleet and various other inputs to improve credit and risk management for lenders.

Founded in 2020 by Nikhil Nair, Ohm enables EV players to gain access to institutional capital. “We aim to facilitate debt and leasing options to both new-entrants as well existing businesses that are switching to clean mobility,” said Nikhil Nair, Founder and CEO of Ohm.

Healthtech startup Bonatra acquires femtech firm MyAva

Bengaluru-based Bonatra, whhealthstack for treating and managing chronic diseases, has acquired women’s health and wellness company MyAva for an undisclosed sum.

The deal will enable Bonatra to expand its healthcare programs and become a one-stop platform for the management of chronic health conditions, the company said in a statement.

Founded in 2019 by Evelyn Immanuel, MyAva is a femtech startup that helps women manage chronic health conditions such as polycystic ovary syndrome (PCOS), thyroid disorders, and insulin resistance.

“Acquiring MyAva enables us to expand our reach and deepen our expertise in women’s health, specifically for conditions like PCOS. We have been closely working with and interacting with the MyAva team and we believe that this will be a good strategic fit for Bonatra. Our mission is to empower people to take proactive measures to prevent, manage, and reverse chronic health conditions. This move will further strengthen our expertise in holistic healthcare solutions,” Rahul Kishore Singh, CEO and Co-Founder of Bonatra, said.

Myntra launches new shopping feature FWD for Gen-Z customers

Flipkart-owned fashion firm Myntra has launched a new feature ‘FWD’ aimed at its Gen-Z users. The feature promises a new shopping experience for younger users who prefer buying trendy clothing.

FWD will include a series of features within the main Myntra app and will host a collection of more than 500 global brands including H&M, Trendyol, bebe, Tokyo Talkies, and Sassafras, Myntra said in a statement.

The company expects to add 10 million Gen-Z users to its customer base over the next 2 years, adding to its existing 8.6 million Gen-Z customer base from 2022. It will also look at scaling the offering to over 1 lakh styles on FWD by the end of the year, it said.

“With the launch of FWD, we are excited to cater to this fashion-first audience by creating a space where their fashion needs aren’t just understood, but are proactively met,” said Nandita Sinha, CEO of Myntra.

Edited by Akanksha Sarma

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