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Startup news and updates: Daily roundup (January 8, 2025)

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From women in the industry blending culture and passion in advertising and filmmaking to a startup accepting receiving a record-breaking Rs 8 crore offer on Shark Tank India, YourStory brings today’s headlines that highlight significant developments across industries.

Here’s a roundup of key stories:

Featured stories

How Amita Madhvani became leader in advertising and production

Amita Madhvani’s upbringing in a close-knit chawl in Mahim instilled in her a love for community and storytelling. Inspired by her parents’ values of service and adaptability, she entered the male-dominated advertising industry of the 1980s, thriving through hard work and curiosity.

Her time at advertising giants like Ogilvy and Leo Burnett broadened her perspective, allowing her to see the industry from the agency’s vantage point.

As she grew in the industry and became the co-partner and producer at Equinox Films and the co-founder of Ram Madhvani Films, Madhvani played a crucial role in steering these companies to prominence. 

Click to read more.

Latest news

SEBI issues warning to Ola Electric

The Securities and Exchange Board of India (SEBI) has issued a warning notice to electric vehicle maker Ola Electric for violating disclosure norms.

The warning states that the company’s Chairman and Managing Director, Bhavish Aggarwal, shared information about the company’s store expansion plans on social media before notifying the stock exchanges.

On December 2, Aggarwal announced that Ola Electric intended to open 3,200 stores by December 20 as it aimed to increase its store count to 4,000 due to a decline in its market share. However, on December 19, the company postponed the opening of these stores to December 25.

Swiggy launches Snacc

A new player in the quick food delivery space, Swiggy’s latest app Snacc seems to have features of its private label Swiggy Cafe and Swiggy Bolt, its 10-minute food delivery service.

Snacc, which is operational in pin codes near the company’s headquarters in Bengaluru and operational between 7 AM to 1 AM, features breakfast, meals, beverages and snacks predominantly unbranded in nature, except select products from Blue Tokai.

Funding news

RAS Luxury secures $5M from Unilever Ventures to fuel omnichannel expansion

Farm-to-face beauty and personal care brand RAS Luxury Skincare raised $5 million in a Series A funding round led by Unilever Ventures.

The round also saw participation from Amazon SMBhav Venture Fund, existing investors like Sixth Sense Ventures and angel investors, including the family of Keki Mistry.

RAS plans to use the funds for various growth initiatives including expanding its retail footprint and plans to grow its exclusive brand outlets from the current two to 50. The company aims for offline channels to generate 25% of its revenue within the next four years.

Culture Circle accepts Rs 3 Cr deal on Shark Tank India

Devansh Jain Nawal, Ackshay Jain, Co-Founders, Culture Circle

Devansh Jain Nawal, and Ackshay Jain, Co-Founders, Culture Circle

Luxury app Culture Circle, which offers authenticated collection of sneakers, streetwear, and luxury fashion, accepted a strategic deal of Rs 3 crore for 3% equity from Kunal Bahl and Ritesh Agarwal, declining a deal of over Rs 8 crore on Shark Tank India.

“Culture Circle was built to solve one of the biggest challenges in luxury fashion—trust…Our goal is to make authentic luxury accessible to all, and this milestone on Shark Tank validates our mission and hard work,” said Devansh Jain Nawal, Founder & CEO, Culture Circle.

The company said that it was praised for its proprietary AI-powered Culture Circle authentication system, SourceX.

Other news

LenDenClub launches daily earning loans for P2P lenders

Peer-to-peer (P2P) lending platform LenDenClub launched a new daily earning loan that allows lenders to earn daily interest along with principal repayments, credited directly to their bank accounts.

With the launch, the platform allows lenders/investors a choice of loans starting from a 9-month tenure, with interest income beginning the next day, the company said.

It serves as an alternative for individuals seeking regular income through the LenDenClub platform. Lenders can lend as little as Rs 250 to a borrower with a choice out of hundreds of borrowers on the platform, it added.

“By offering daily income from loans, we provide lenders with immediate liquidity and flexibility. This initiative aligns with our goal of simplifying financial opportunities through the usage of technology. Our system processed 23 crore transactions between lenders and borrowers on the platform. Our technology is so robust that we are able to provide such complex solutions like processing daily EMIs from borrowers to lenders,” said Bhavin Patel, CEO, LenDenClub

Inflexor Ventures elevates Harsha Mundhada, Murali Krishna Gunturu to partners

Sector-agnostic venture capital fund Inflexor Ventures, which specialises in seed to Series B investments, announced the elevation of Harsha Mundhada and Murali Krishna Gunturu as partners in the fund.

“Harsha and Murali have been integral to our success, demonstrating both the vision and perseverance that define great investors. Their elevation to Partners underscores our belief in fostering leadership from within and ensuring that our founders continue to receive top-notch support at every stage of their journey,” said Jatin Desai, Managing Partner at Inflexor.

Harsha Mundhada has been with Inflexor since 2016, and prior to this stint, she worked with Deloitte, Ernst and Young, and PriceWaterhouseCooper in their transaction advisory department. Meanwhile, Murali Krishna Gunturu was a founding member of Inflexor. He previously worked with Ernst and Young and also played the role of a virtual CFO for a few SMEs.

Inflexor recently raised its first Opportunities Fund and is gearing up to raise its third blind pool corpus of Rs 1,250 crore in FY26.

GrowthJockey launches Intellsys

GrowthJockey, a player in venture architecture and technological innovation, launched Intellsys, an AI-powered growth marketing intelligence platform designed to empower businesses with real-time, data-driven insights.

At the core of Intellsys is Copilot AI, which leverages community intelligence to provide actionable insights, bridging the gap between data analysts and business leaders.

Intellsys simplifies this complexity posed by vase data by consolidating information from over 200 data sources and analysing more than 15 million data points per second. It tracks over 1,000 metrics in real time.

Intellsys represents a new era in marketing intelligence, combining cutting-edge AI with an intuitive user experience. We are not just offering a tool; we’re providing a solution that empowers businesses to make smarter decisions, faster. Intellsys enables leaders to focus on strategic growth while leaving the complexity of data management to AI,” said Ashutosh Kumar, CEO of GrowthJockey.

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





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The Worst Computer Virus of All Time: A Digital Plague Still Spreading

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Imagine opening an email on a seemingly ordinary day, only to unknowingly unleash a digital monster that would wreak havoc across the globe. This is the story of MyDoom, the worst computer virus in history, responsible for over $55 billion in damages over the past 20 years. Despite extensive efforts to trace its origins, the identity and motives of its creator remain a chilling mystery. Let’s explore how this cyber nightmare continues to haunt the digital realm, infecting machines at an astonishing rate of 1.2 billion emails annually in 2025.

The Birth of MyDoom: A Day That Shook the Internet

It all began on January 26, 2004, when people worldwide started receiving peculiar emails. The subject lines varied, but the message inside often read: “I’m just doing my job, nothing personal, sorry.” Attached to these emails was a file, which, when opened, unleashed a worm into the victim’s computer. This wasn’t just another malware; MyDoom was a highly sophisticated piece of code designed to exploit vulnerabilities with ruthless efficiency.

Within hours, infected computers began sending copies of the worm to every email address in their contact lists. The sheer scale of its impact was unprecedented: within its first year, MyDoom was responsible for 25% of all emails sent globally.

How MyDoom Operates: The Anatomy of a Digital Menace

mydoom

MyDoom’s core functionality was deceptively simple yet devastatingly effective:

  1. Rapid Self-Replication: Once activated, the worm scanned the infected computer for email addresses, sending itself to as many recipients as possible.
  2. Botnet Formation: Infected machines were added to a vast botnet—a network of compromised computers under the control of the virus creator.
  3. DDoS Attacks: MyDoom leveraged this botnet to launch Distributed Denial of Service (DDoS) attacks on major websites and servers, disrupting operations for businesses and governments alike.

Economic Fallout: A $55 Billion Digital Disaster

The financial toll of MyDoom is staggering. Direct damages, such as lost productivity and system downtime, combined with indirect costs like reputational harm, have amounted to over $55 billion. This makes MyDoom the most expensive malware outbreak in history.

To put this into perspective, the damages caused by MyDoom exceed the GDP of several small nations. Companies scrambled to enhance cybersecurity measures, while governments issued warnings to prevent further spread—yet the worm persisted.

The Unsolved Mystery: Who Created MyDoom?

Despite a $250,000 bounty offered by Microsoft for information leading to the arrest of its creator, the identity of MyDoom’s developer remains unknown. Speculations range from rogue hackers seeking fame to organised cybercriminal groups. Some even theorise it was a state-sponsored attack.

The cryptic apology in the email message (“I’m just doing my job”) adds an eerie layer to this mystery. Was it a disgruntled employee or a cyber vigilante? The truth, much like the worm itself, remains elusive.

MyDoom in 2025: A Virus That Refuses to Die

Two decades later, MyDoom is still active, sending approximately 34 million emails daily. Advances in cybersecurity have made it harder for the worm to spread, yet its persistence highlights the challenges of eradicating legacy malware. MyDoom has become the digital equivalent of a cockroach—annoying, resilient, and seemingly indestructible.

A Digital Plague for the Ages

MyDoom’s story is a cautionary tale of how one piece of malicious code can upend the digital world. Its continued activity is a reminder that the internet, for all its advancements, remains vulnerable. While cybersecurity experts work tirelessly to outsmart the next big threat, MyDoom lurks in the shadows, a relic of the early 2000s that refuses to fade away.

As we advance into an era of AI-driven technologies and quantum computing, let’s not forget the lessons MyDoom has taught us: in the digital battlefield, complacency is not an option. So, the next time you receive an email that seems “off,” think twice—it might just be MyDoom knocking on your inbox.





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GrayQuest raises Rs 80 Cr in Series B funding round

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Fintech startup GrayQuest  has raised Rs 80 crore ($9.3 million) in its latest Series B equity funding round.

The fintech company, which focuses on building digital financial solutions for India’s education ecosystem, has bagged the funding from IIFL Fintech Fund, Claypond Capital (Family Office of Dr. Ranjan Pai), and existing investor Pravega Ventures.

The company plans to utilise the capital to further enhance its technology platform and significantly scale its distribution to educational institutions across the country.

“We have had quite a journey from the initial days of pitching a radically new way of collecting fees at institutions to our solutions slowly becoming a must-have for educational institutions across the country. We are thankful for the trust and conviction shown by some of India’s most respected investors to partner with us in this journey as we continue to focus our efforts on building innovative solutions that will make a significant positive impact to the lives of our customers across the education ecosystem,” said Rishab Mehta, Founder and CEO, GrayQuest.

Founded by Rishab Mehta in 2017, the Mumbai-based startup offers educational institutions a unified payments platform to enable them to digitize and boost their fee collection. Its platform enables institutions to offer their students and parents multiple payment options, including a monthly payment option to pay their annual education fees without bearing any extra costs.

“India’s education ecosystem is one of the world’s largest, with over $120 billion of education fees paid annually. However, there has been little innovation in recent decades, especially compared to similar ecosystems that have embraced digital payments. We were impressed with the category leadership and the impact GrayQuest solutions were having on some of India’s leading institutions across the country and are thrilled to partner with them on this journey,” added Mehekka Oberoi, Fund Manager, IIFL Fintech Fund.

 

 

 





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Construction solution startup Nirmaan closes seed funding round led by Equanimity Investments

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Nirmaan, a B2B managed marketplace focused on the construction materials sector, has closed its seed funding round led by Equanimity Investments. The company will use the capital to fuel its technological infrastructure, expand to new regions, and diversify its product categories.

The Kolkata-based firm aims to transform the fragmented construction materials market by leveraging technology to connect manufacturers with retailers. Launched initially by offering sanitaryware, the startup has already served more than 1,000 unique retailers within an 80-km radius of the city.

Targeting suburban metros and Tier-II/III towns in the country, Nirmaan addresses significant distribution gaps in these regions.

Rajesh, Managing Partner at Equanimity, stated, “Mayank and Manish bring decades of extensive expertise in supply chain management and possess a profound understanding of the challenges encountered by manufacturers and retailers. The construction materials industry remains highly fragmented, with national players capturing less than 50% of the market, and regional brands having an even more limited presence. We are delighted to collaborate with them as they expand their product portfolio and extend their presence across diverse geographies.”

Some of the key challenges in the sector include manufacturers facing an opaque value chain, limited market reach, and inefficient communication with retailers. Conversely, retailers struggle with brand and product discovery, frequent order fulfilment failures, and delays in delivery timelines. These challenges often lead to excessive inventory stocking, which ties up critical working capital.

Founded by Manish Maheshwari and Mayank Bhawsinghka, the platform helps manufacturers increase market reach and build brand visibility. For retailers, the solution includes a unified platform for faster discovery and procurement, enabling smaller and more frequent restocking. Through a mobile app, retailers can reduce minimum order quantities, free up working capital, and streamline their product discovery processes.





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