Startups

Startup news and updates: daily roundup (June 22, 2022) – YourStory


Delhivery expands infrastructure across Greater Mumbai, Bengaluru

Logistics service provider Delhivery has announced plans to expand its infrastructure in Bhiwandi in Greater Mumbai and Bengaluru by setting up fully-automated large integrated trucking terminals.

For Greater Mumbai, it has partnered with Welspun for a seven lakh square-feet mega gateway. The Bengaluru facility developed in partnership with GMR over one million square feet includes a warehouse for multi-channel order fulfilment for its customers. The facilities will be operational by 2023, said a statement issued by the company.

The infrastructure expansion will help Delhivery increase its processing capacity to meet customer demand in the South and West of India.

Fixcraft acquires VMotive brand from Vogo

Gurugram-based car repair and service startup Fixcraft has acquired Vogo-owned automotive spare parts brand VMotive. The VMotive team will join Fixcraft as part of the deal. VMotive will add to the availability of genuine and high-quality spares for dealers and workshops with Fixcraft.

Founded in 2018 and backed by marquee angel investors and Good Capital, Fixcraft is a tech-enabled car repair solution startup. The company, which has a presence in Delhi-NCR and Bengaluru, plans on expanding to 10 metros over the coming year.

Fixcraft founding team

IAMAI announces formation of a venture capital committee

Industry body representing digital services companies in India including multinationals, the Internet and Mobile Association of India (IAMAI) has announced the formation of a venture capital committee to work on public policy consultations, stakeholder engagement, ecosystem enhancement, and building industry networks for venture capital firms.

The committee will also highlight sector-specific challenges faced by portfolio companies of the venture capital firms.

The committee will be chaired by Vikas Agnihotri, Operating Partner at SoftBank Investment Advisers; and Shweta Rajpal Kohli, Chief Public Policy Officer at Sequoia India and Southeast Asia. Half the members of the committee will be drawn from the Indian venture capital community. Representatives from Sequoia India, SoftBank, Multiples Asset Management, Indian Angel network, 3One4 Capital, Eximius, and other funds have already joined it.

The committee will be taking up issues around the direct foreign listing of Indian startups, clarification on Gift Tax rules, ESOP taxation, Angel Fund structure, and GIFT City regulations, among others.

Gujarat government’s iCreate incubator launches EV innovation challenge

International Centre for Entrepreneurship and Technology (iCreate), an autonomous centre of excellence of Gujarat government has launched EVangelise ‘22—an electric vehicle (EV) innovation challenge in partnership with Startup India and CII-CoE for Innovation, Entrepreneurship and Startups.

Open to individual innovators, startups, students, researchers, and EV enthusiasts, the EVangelise innovation challenge has a total cash prize of Rs 1.12 crore. The innovation challenge has two categories—tech development and manufacturing partnership—and follows the themes of vehicle traction, vehicle energy storage, and vehicle infrastructure.

The applications open in June and the event will be concluded in December 2022. iCreate will provide access to facilities, research labs, mentorship support, and industry connection to the participants.

(This is an ongoing story and will be updated with the latest updates throughout the day.)



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