Startup news and updates: Daily roundup (October 18, 2024)

Funding

Febi.ai raises pre-Series A funding of $2M

Febi.ai, an AI-driven platform specialising in automating accounting and tax compliance, has raised $2 million in its pre-Series A funding round from Lumis Partners. Other notable investors include Virender Rana, former Managing Director, Payments at JP Morgan, and Amit Chaudhary, Co-founder of Lenskart. 

Padmaja Ruparel, Co-founder of Indian Angel Network; Rohan Bhargava, Co-founder of Cashkaro; Rajat Jain, Chairman of Fino Payments Bank; also participated in the round. 

Founded in 2022 by a team of chartered accountants and technology experts, Febi.ai, which is short for Founders Entrepreneur Books Innovation, uses AI to eliminate manual data entry and errors in accounting processes. It automates invoice verification, documentation management, and tax compliance while providing real-time business insights to help founders and entrepreneurs make data-driven decisions.

SportsSkill secures angel investment from KP Balaraj

Sports-tech company SportsSkill has secured an angel round of funding from KP Balaraj, a notable investor and former national-level tennis player.

The platform integrates advanced artificial intelligence into its sports performance mobile application to provide real-time and data-driven insights through computer vision analytics, health metrics, and machine learning.

It also allows athletes to receive intelligent evaluations across techniques, fitness, tactics, and nutrition, along with receiving personalised training programs and interactive coaching sessions to boost their performance.

"We envision a future where tech is an indispensable partner in every athlete's journey. Our app empowers athletes, coaches, and others to make informed decisions, providing them with the tools to enhance their skills, refine their techniques, and ultimately, unlock their full potential," said Abhinav Sinha, Co-founder of SportsSkill and former international squash player.

Other news

Satyukt Analytics wins STPI's Smart Farm Grant Challenge

Satyukt Analytics has been awarded the top prize at the Smart Farm Grant Challenge organised by the Software Technology Parks of India (STPI), an autonomous organisation under the Ministry of Electronics and Information Technology (MeitY). The company secured a grant of Rs 50 lakh for its solution to improve the efficiency of sugarcane harvesting.

The award ceremony, held in Delhi, was graced by S Krishnan, Secretary of Meity.

The challenge initiated by STPI aims to promote innovative approaches for enhancing agricultural processes This year’s challenge attracted 474 entries. 

“We are thrilled to be recognised by STPI for our efforts in revolutionising sugarcane harvesting. This award underscores our dedication to enhancing agricultural productivity and sustainability through technological innovation,” said Sat Kumar Tomer, Founder and CEO, Satyukt Analytics. 

ZEPIC rolls out Zenie AI engine, along with other features

ZEPIC, a customer engagement platform, has launched three new products aimed at enhancing customer interactions and marketing strategies. The launches are Zenie, an AI engine; Team Inbox, a centralised platform for managing customer conversations; and a cardless 14-day free trial, providing marketers globally a risk-free opportunity to experience the platform’s capabilities.

Zenie, which is now integrated into all ZEPIC accounts, leverages large language models (LLMs) and advanced natural language processing to support users across various features, enabling them to complete tasks swiftly. It assists across multiple functions, including user onboarding, data integration, campaign management, and analytics. 

“Zenie isn’t just another AI Copilot. Zenie is an ever-present, intelligent sidekick that continuously learns and adapts to provide the best outcomes for our users. Zenie helps from every nook and cranny of our platform, from organising and unifying data to creating and running hyper-personalised campaigns in 20 minutes flat,” said Naveen Venkatesan, Co-CEO and Product Head at ZEPIC.

AiDash launches full-stack platform for grid inspection and monitoring

Enterprise SaaS firm AiDash has introduced a new full-stack platform for grid inspection and monitoring to provide utilities with the data and insights needed for preventative maintenance to keep the grid operational, safeguard communities, and reduce costs.

The end-to-end system addresses utilities' most urgent challenges in the wake of climate threats like storms and wildfires.

The platform was launched bt Abhishek Singh, CEO of AiDash, at the company’s Evolve 2024 conference held in New Orleans.

“In an era of super storms and wildfires, keeping the power on is more challenging than ever. Climate change, growing power demands, and the need to expand grid capacity highlight the urgent work ahead to ensure safe, reliable, and affordable power,” said Abhishek Singh, CEO of AiDash.

“With our full-stack platform for grid inspection and monitoring, we’ve combined all of our capabilities and integrated new data sources, giving utilities the most accurate information to enable swift, decisive action,” he added.

IISc collaborates with Jaro Education to fuel next-gen technology, research

Online higher education and upskilling platform Jaro Education has collaborated with the Indian Institute of Science (IISc) to introduce next-generation technology and research-based programs.

The programme aims to help professionals fuel their problem-solving capabilities and acquire advanced research skills to make them job-ready across industries.

"Our collaboration with the Indian Institute of Science (IISc) marks a significant milestone in our mission to drive impact in executive education. This partnership will contribute to a future-ready workforce capable of driving cutting-edge advancements in industries worldwide. Next-generation technology and research-based programs will equip professionals with advanced problem-solving capabilities that align with the growing demand for tech-driven leadership," said Ranjita Raman, CEO, Jaro Education.

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