Startup
Startup news and updates: Daily roundup (November 14, 2024)
Funding news
Mushin Innovative Labs bags $250K in seed round
SaaS firm Mushin Innovative Labs raised $250,000 in a seed round led by Inflection Point Ventures to enhance its sales and marketing operations, fuel R&D efforts, and product development.
The Delhi firm offers digital solutions for the automotive manufacturing industry. Its flagship platform, Mushin AQUA, helps Tier I and II manufacturers streamline compliance and improve quality management, achieving cost reductions of up to 85%.
“The automotive manufacturing industry has stringent compliance standards to follow while minimising costs and maintaining top-notch quality. Many Tier I and II manufacturers struggle to meet these demands efficiently due to fragmented processes and outdated systems. Mushin Innovation Labs addresses this challenge and streamlines compliance and enhances quality management in an accessible price range, making lives easier for Tier I and II manufacturers,” said Vikram Ramasubramaniam, Partner and CIO of Inflection Point Ventures.
Drone startup Airbound secures $1.7M led by Lightspeed
Drone technology startup Airbound secured a $1.7 million seed round led by Lightspeed, with participation from gradCapital and prominent angel investors. Utilising its proprietary TRT design, a blended wing body tailsitter, Airbound aims to support logistics by lowering delivery costs by two orders of magnitude compared to conventional methods.
“Airbound is proud to have developed not only an industry-leading delivery drone but also a highly efficient, scalable manufacturing process,” said Naman Pushp, Founder and CEO of Airbound.
“We scrutinised every vehicle system to reduce weight, enhance safety and reliability, and maximise efficiency. We developed new methods to manufacture carbon fibre, which allow us to reduce the weight of our Airframe from 6 pounds to 400 grams,” he added.
With this funding, Airbound will deploy its R&D efforts toward medical logistics and routine supply deliveries like transporting blood samples from health centres to testing labs.
LegalKart raises Rs 6.5 Cr from existing investors
Legal consultation platform LegalKart secured Rs 6.5 crore in its latest funding round from existing investors to accelerate the company’s growth and advance its AI-powered legal technology solutions.
Founded in 2019 by Arvind Singhatiya, LegalKart makes legal services more accessible and affordable for everyone. The platform allows users to connect with legal professionals and lawyers in all Indian languages through audio and video calls.
Arvind Singhatiya, Founder and CEO of LegalKart, said, “We are excited to have the continued trust and support of our investors. This investment reinforces our commitment to simplifying legal services using the latest technology and making them accessible to everyone.”
Other news
OnePlay appoints Akshat Rathee as investor, advisor
Cloud gaming platform OnePlay appointed Akshat Rathee as a strategic investor and member of its advisory board. With over 20 years of experience in the gaming industry in India and other emerging markets, Rathee is a seasoned entrepreneur and has previously served as the managing director and co-founder of NODWIN Gaming.
Throughout his career, he has launched over 20 companies across the consulting, clean energy, sports tech, and gaming sectors.
“It’s a pleasure to welcome Akshat Rathee to the OnePlay team. His extensive experience with NODWIN Gaming will be instrumental as we embark on our journey in the cloud gaming space. We believe that Akshat’s insights and strategic vision will be pivotal in driving innovation and shaping the future of gaming at OnePlay, as we strive to create unparalleled experiences for gamers in India and beyond,” said Harshit Jain, Co-founder and CEO at OnePlay.
IDFC First Bank opens startup lounge in Bengaluru
IDFC FIRST Bank launched a startup lounge, an exclusive space designed to support entrepreneurs and empower early-stage startups in India. Located in Koramangala, Bengaluru, it aims to provide essential resources, mentorship, and networking opportunities for entrepreneurs looking to scale their businesses.
The FIRST Wings Start-up Lounge of IDFC First Bank will offer a zero-fee current account with free banking services with no minimum balance requirement for initial three years for early-stage startups.
It will also provide a smart sweep facility that allows startups to earn returns up to 7.25% on idle funds by automatically transferring excess amounts over Rs 2 lakh into fixed deposits, as well as a corporate credit card to help startups manage their business expenses with a flexible step-up credit feature.
“IDFC FIRST Bank will also partner with leading incubators, accelerators, venture capitalists, and angel investors, creating synergies that will help startups gain a competitive edge in a fast-evolving business environment,” said Bhavesh Jatania, Head Start-up Banking, IDFC FIRST Bank.
Bengaluru Tech Summit to hold Venture Capital Connect summit
the Department of Electronics, IT, Bt, Government of Karnataka, is organising the Venture Capital Connect, a three-day programme connecting startups and investors, as a part of Bengaluru Tech Summit 2024 from November 19-21, 2024.
The programme is expected to draw over 50 leading global investors, including family offices, angel investors, and VC firms from across the globe, bringing a combined potential investment fund of more than $17.5 billion.
With support from leading investment associations and registered VC networks in India, the programme will focus on catalysing growth specifically for Karnataka-based startups.
According to a statement, over 322 startups have registered to participate in the programme, of which 118 have applied for patents. It includes 23 ideation-stage startups, 142 early traction-stage startups, 75 concept validation-stage startups, and 82 growth-stage startups.
TiE India introduces Family Office Summit in partnership with Chiratae Ventures
The Indus Entrepreneurs (TiE) Bangalore, in partnership with Chiratae Ventures and Entrust Family Office, is launching the Family Office Summit at the TiE Global Summit 2024 in Bengaluru.
The event, scheduled for December 11, 2024, aims to inspire Indian family offices to invest in the country’s startup ecosystem by offering insights into the “why” and “how” of supporting high-growth ventures with local capital.
A recent PwC report highlights the rapid growth of family offices in India, rising from about 45 in 2018 to 300 in 2024.
Through this summit, TiE and its partners seek to increase awareness and provide a platform for family offices to explore India’s emerging startup opportunities, fueling domestic investments in local private equity over the next five years.
GIFT City launches International Fintech Institute and Fintech Incubator and Accelerator
Gujarat International Finance Tec-City (GIFT City) launched the GIFT International Fintech Institute (GIFT IFI) and the GIFT International Fintech Innovation Hub (GIFT IFIH), a fintech incubator and accelerator supported by the Asian Development Bank (ADB).
The GIFT IFI will be led by a consortium that includes Ahmedabad University, in collaboration with IIT Gandhinagar and the University of California, San Diego. The training programmes, set to commence in January 2025, are designed to help professionals with industry skills required for the modern financial sector.
The institute aims to provide professionals with the skills needed to excel in high-growth careers in global finance. Complementing this, the GIFT IFIH—led by Plug and Play, a global accelerator platform—plans to provide resources, expert mentorship, and networking opportunities to startups.
(This article will be updated with the latest news throughout the day.)
Startup
How to Do Nothing: 10 Life-Changing Lessons from the book
In a world obsessed with productivity, constant notifications, and an endless race to “get things done,” Jenny Odell’s How to Do Nothing: Resisting the Attention Economy stands as a clarion call for mindfulness and intentional living. The book isn’t about literally doing nothing; instead, it’s about reclaiming your time, attention, and sense of purpose from the forces that commodify them. Odell encourages readers to resist societal pressures to always be productive and instead engage with the world on their own terms.
Whether you’re seeking balance, clarity, or a fresh perspective on life, here are 10 transformative lessons from this groundbreaking book.
10 lessons from Odell’s How to Do Nothing
Reclaiming your attention is revolutionary
Odell argues that in a world driven by the attention economy, your focus has become a commodity. Taking back control of your attention is an act of resistance against a culture designed to distract and exploit.
Start by identifying what drains your attention, like social media or constant multitasking, and create intentional boundaries.
Redefine productivity
The book challenges the notion that your worth is tied to constant productivity. True value comes from meaningful engagement, not perpetual busyness.
Pause and ask: Am I doing this for genuine fulfilment or just to check it off a list?
Rediscover the art of observation
Odell emphasises the importance of noticing the world around you—its sights, sounds, and rhythms. By slowing down, you can reconnect with your surroundings and experience deeper satisfaction.
Try taking a “silent walk” without your phone. Pay attention to the details of your environment, from the rustle of leaves to the shapes of clouds.
Engage in intentional idleness
Doing nothing isn’t laziness—it’s a chance to recharge and reflect. Odell calls for carving out time for idleness to cultivate creativity and well-being.
Schedule “unplugged hours” where you do nothing but relax, think, or simply exist without pressure.
Resist the pressure to always be online
Odell critiques the expectation to be perpetually reachable, reminding us that constant connectivity erodes boundaries and mental peace.
Turn off non-essential notifications and establish clear offline hours. Let people know when you’re unavailable to normalise boundaries.
Build a deeper connection with nature
Nature plays a central role in the book as a source of grounding and inspiration. Spending time outdoors can help you find clarity and perspective.
Dedicate time each week to connect with nature, whether through a hike, gardening, or simply sitting in a park.
Value relationships over algorithms
Odell encourages prioritising face-to-face interactions and meaningful connections over superficial online engagements dictated by algorithms.
Spend more time with people who inspire and uplift you, and less time scrolling through curated feeds.
Practice deliberate rest
Rest is a fundamental part of being human. Odell reminds us that rest isn’t a luxury—it’s a necessity for creativity, health, and joy.
Incorporate restful practices into your day, such as meditating, journaling, or simply taking a nap without guilt.
Find joy in community participation
The book emphasises the power of community and the satisfaction that comes from contributing to something larger than yourself.
Join a local group, volunteer, or participate in community events to foster connections and purpose.
Live life on your terms
Ultimately, Odell’s message is about rejecting societal norms that dictate how you should spend your time and embracing a life that feels authentic to you.
What activities or values truly make you happy, and how can you align your life around them?
Conclusion
How to Do Nothing is more than a book; it’s a manifesto for mindful living in a chaotic world. Odell’s lessons remind us that life’s richness isn’t found in constant achievement but in deliberate moments of presence, connection, and introspection.
By applying these 10 lessons, you can reclaim your attention, redefine success, and create a life that truly aligns with your values. So take a step back, breathe, and ask yourself: What truly matters? The answers may surprise you—and transform your life.
Startup
Stuck in your career? Watch out for these 7 red flags
Ever felt like your career has hit a plateau despite working tirelessly? You’re not alone. Many professionals experience periods where progress feels stagnant, promotions seem elusive, and opportunities don’t knock as often. Often, the problem lies in subtle, overlooked red flags—behaviours, habits, or circumstances—that hinder growth. These red flags can quietly derail your trajectory, leaving you stuck without realising why.
In this article, we’ll uncover seven hidden red flags that could be silently affecting your professional growth. By recognising these early on, you can take proactive steps to realign your path and reignite your career momentum.
7 Red flags slowing down your career growth
1. Overcommitting without prioritising
Why it’s a red flag
Saying “yes” to everything might make you seem helpful, but it often leads to burnout and dilutes the quality of your work. Employers value results, not just effort.
What to do
Learn to prioritise tasks based on their impact. Use frameworks like the Eisenhower Matrix to decide what’s urgent and important. Politely decline or delegate tasks that don’t align with your core responsibilities.
2. Avoiding feedback or criticism
Why it’s a red flag
Fear of feedback can stunt your learning curve. Constructive criticism is a tool for improvement, but avoiding it can leave gaps in your skills.
What to do
Embrace feedback as an opportunity to grow. Regularly seek input from colleagues or supervisors, and focus on actionable steps to improve.
3. Staying in your comfort zone
Why it’s a red flag
Routines can feel safe, but they can also lead to stagnation. Innovation and growth often require stepping into unfamiliar territory.
What to do
Take on challenges that push your boundaries. Volunteer for projects outside your expertise or learn new skills to keep your growth dynamic.
4. Poor networking habits
Why it’s a red flag
Your network can open doors to opportunities you wouldn’t find otherwise. Failing to build or nurture professional relationships can limit your reach.
What to do
Attend industry events, connect with peers on platforms like LinkedIn, and maintain relationships by regularly engaging with your network.
5. Neglecting soft skills development
Why it’s a red flag
Technical expertise is vital, but emotional intelligence, communication, and teamwork are equally important for leadership roles and career advancement.
What to do
Invest time in developing your soft skills. Consider courses, workshops, or books focused on areas like negotiation, active listening, and conflict resolution.
6. Ignoring industry trends
Why it’s a red flag
Industries evolve rapidly. Ignoring trends or failing to upskill according to market demands can make your expertise obsolete.
What to do
Stay informed through industry news, webinars, or certifications. Adapting to changes keeps you relevant and valuable in your field.
7. Toxic workplace dynamics
Why it’s a red flag
A toxic work environment—marked by poor communication, favouritism, or lack of recognition—can drain your energy and stifle your potential.
What to do
Identify the signs early. If efforts to improve the culture fail, don’t hesitate to explore better opportunities elsewhere. Your mental and professional well-being matter.
Recognising these seven red flags is the first step toward reclaiming your professional growth. Awareness allows you to address these challenges proactively, fostering a career path that aligns with your goals and aspirations.
Take stock of where you stand today—are any of these red flags present in your career? By tackling them head-on, you’ll be better equipped to break free from stagnation and reach new heights of success.
Startup
Trash to treasure: How ReCircle cracked India’s waste management code
In 2016, NASA published an image of a fire raging across the largest landfill in Mumbai, underscoring India’s escalating waste management crisis and sparking public concern and action.
Situated near Thane Creek, the Deonar dumping ground stretches across 326 acres, receiving over 3,700 metric tons of trash daily—nearly one-third of the city’s waste back then.
Amidst this, two NGO founders–Rahul Nainani and Gurashish Singh Sahni–realised the issue of a large amount of waste ending up in landfills. In 2016, they founded ReCircle to address the same.
Today, ReCircle–a data and supply chain company–is working on digitising India’s waste supply chain and monetising the data that flows through this supply chain.
How did it begin?
In 2015, Nainani and Sahni first met at a Google startup weekend and decided to start an NGO model to connect households in Deonar to institutions for waste collection. However, the Deonar fire in the following year led the founders to pivot to develop a system that focuses on diverting waste away from landfills and oceans.
“One of the things we found was that the average life expectancy of people living around the dumpsite (Deonar) was about 38-37 years of age. These people don’t work in the dumpsite but live in the penitentiary of the dumpsite itself. And that was a wake-up call–it is happening in the heart of the city, in Mumbai,” Nainani, CEO of ReCircle, tells YourStory.
“If it is affecting the people living around the dumpsite, how soon will it start affecting the rest of us?”–the duo were plagued by the question.
ReCircle started its operations under a business-to-consumer (B2C) model, but after three years, in 2019, the company realised it needed to procure larger volumes of waste to create an impact in the ecosystem and pivoted to a B2B model. “That is when we saw most of our growth come in,” he adds.
According to the co-founder, the waste management sector did not exist when the company was established–either for investors or customers. Initially, ReCircle struggled to convince people of the need for recycling.
Another challenge was to get the right team, as the co-founders did not have a background in the waste management sector prior to starting the company.
“It’s kind of like a non-sexy business. You’re not going to a tech startup that is growing and building something along those lines. So, finding the right team, getting the right people, building around that, and ensuring VCs see a bigger potential around that (was a challenge),” Nainani notes.
Business model
ClimaOne, ReCircle’s proprietary software, offers a reverse supply chain for plastic waste by connecting waste aggregators and collectors to recyclers and processors.
The platform enables the company to track and trace material that flows across this supply chain, giving it access to data ranging from where the waste was collected to how much was procured and what value it holds.
ReCircle sells this data to its clients, including Unilever, Coca-Cola, and Nestle, in the form of credits to meet their environmental, social, and governance (ESG) goals set by government regulatory bodies under the Extended Producer Responsibility (EPR) service.
The Mumbai-based company works with 400 collection partners across 250+ locations in India. In March 2024, the company recovered over 169,000 tonnes of waste through its supply chain. To put this into context, the co-founder says 169,000 tonnes is equivalent to the weight of over 28,000 full-grown.
Additionally, it has partnered with local scrap dealers, adopting a similar model to cab aggregators, where the dealer earns a portion of the waste collected.
“We have collection partners that run their independent businesses, and we provide them with this platform to give an additional source of income and be part of our supply chain. We basically transact with them in terms of volumes that we need to collect from them,” Nainani explains.
The company offers another service to clients, called the Plastic Neutral Program, which targets micro and small enterprises exempted from EPR compliances and provides a voluntary credit mechanism to these companies.
In April, ReCircle started a new project, Project Extra Life, in Mumbai with Circular Apparel Innovation Factory to target textile waste, where it has a system to recover and collect old textile materials from households, offices, and fashion houses, among others.
The path forward
ReCircle aims to work towards ethical circularity and is recycling waste material by itself along with its partners to achieve the same.
Earlier in September, the startup raised an undisclosed investment in a bridge round co-led by Venture Catalysts, Mumbai Angels, and high-net-worth individuals (HNIs). At present, it is in discussions with investors to raise a Series A round.
“With their focus on working towards ethical circularity and plans to forward integrate into the plastic waste supply chain, the company will not only be able to provide high-quality, traceable recycled plastic content to companies using plastic packaging but also build a new revenue channel,” said Shalini Chhabra of 3i Partners.
3i Partners had invested in ReCircle’s pre-Series A funding round in 2023, along with Flipkart Ventures and Acumen Fund Inc.
“We are already collecting bottles for Coca-Cola, which we are sending for recycling. We intend to set up our own recycling plant with this fundraise, where we convert these recycled bottles into granules that can be used to make new bottles out of that ecosystem. So, our forward integration with the plastic supply chain is one we are looking at in terms of using our investment into setting up our own recycling unit,” Nainani says.
The company, which aims to begin its recycling unit by early next financial year, is also exploring export opportunities for plastic granules in the US, European, and Middle Eastern markets, where there is a bigger consumer awareness and demand for recycled material.
According to Mordor Intelligence, India’s waste management market size is estimated at $12.90 billion in 2024, expected to reach $13.30 billion by 2029, growing at a compound annual growth rate of 6.10% between 2024 and 2029.
Going forward, ReCircle aims to increase its revenue channel by selling recycled plastics to the same brand owners it currently collaborates with as a new source of revenue.
The company targets over $23 million in the next three years and has been cash flow positive since FY23.
ReCircle was part of YourStory’s Tech30 list, which looked at India’s 30 most promising startups poised to become major disruptors across fields.
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