Startup news and updates: daily roundup (October 24, 2024)

Funding news

NG Earsafe raises Rs 1.06 Cr in seed funding

NG Earsafe, an open-ear headphone brand, raised Rs 1.06 crore in a seed round from Inflection Point Ventures for brand awareness, market expansion, and new product development.

The startup specialises in safe listening solutions using Air Conduction and Bone Conduction Technology, which transmits sound through vibrations rather than directly through the eardrum.

Founded in 2019 by Meet Shah (CEO) and Raj Shah (COO), NG Earsafe has sold over 43,000 headphones and operates at an annual revenue run rate of Rs 10 crore.

“WHO predicts that 1 in 4 people will face hearing problems by 2050. Our goal at NG EarSafe is to encourage a shift towards safer forms of listening, helping to reduce the forecasted hearing damage,” CEO Meet Shah said.

Other news

Bizongo signs MoU with NALCO to distribute 27K MT aluminium

Bizongo, an Accel and IFC-backed company, has signed an MoU with NALCO (National Aluminium Company Limited) to distribute aluminium products through its B2B ecommerce platform. The company targets to distribute 27,000 MT of aluminium by March 2025.

The partnership aims to streamline the procurement process for industrial buyers using Bizongo’s digital marketplace, BizongoBuy, and financing solutions BizongoFin.

Within its first quarter, Bizongo has achieved significant milestones, distributing over 3,000 MT of aluminium monthly, making it one of NALCO’s top-tier distributors.

“It is indeed a matter of honour that within just three-quarters of operations, Bizongo has emerged as one of the key distribution and financing platforms for NALCO’s customers. Being entrusted as among the top-tier distributors by NALCO is a testimony to our deep understanding of B2B marketplaces and supply chain financing solutions,” said Sachin Agrawal, Co-founder and CEO of Bizongo.

Apna.co launches platform to solve India’s campus recruitment challenge

Apna.co has launched Apna Canvas, a new platform designed for early talent recruitment (0-3 years experience) in India.

The platform connects over two crore freshers from 22,000+ colleges across 2,500 cities with potential employers through competitions and skill assessments.

Apna Canvas has partnered with major companies, notably the PwC Campus Contender 2024, which saw 12,000 participants competing for Rs 6 lakh in prizes.

The platform helps companies overcome key challenges in fresher hiring, including limited candidate diversity and the logistical overhead of campus recruitment. It offers features like interactive microsites, virtual pre-placement talks, and gamified challenges to help companies build their employer brand and engage with talent effectively.

(This article will be updated with the latest news throughout the day.)