💻 Capria’s AI push for portfolio startups

Start Your Day with YS Buzz: Your 8 AM Snapshot of Today's Top Startup News! 18 January 2024 [View in Browser]( Hello, [UPI]( is spreading its wings. NPCI International Payments has now partnered with Google India Digital Services to establish UPI-like digital payment systems in other countries. The goal is to also enhance the use of UPI payments for travellers abroad. Meanwhile, the government disbursed Rs 4,415 crore under [PLI schemes]( for eight sectors, including electronics and pharma, till October this fiscal. Also, [Ola Electric]( said it received a domestic value addition certificate under the PLI scheme for the automobile and auto component industry. Elsewhere, [Nazara Technologies]( revealed that its board has approved a 10.77% stake acquisition in Kofluence to help the gaming firm develop an influencer-led game discovery platform. Now, onto the battle of the tech giants. Samsung will unveil its much-awaited [Galaxy S24]( today at its Unpacked event. On the other hand, Apple's mixed-reality headset, the [Vision Pro]( is set to go on sale starting February 2. [Did you know?]( Last year, Apple beat Samsung’s 12-year streak to become the world’s largest seller of smartphones. In 2023, Apple commanded a 20% market share, followed by Samsung at 19.4% share, a report from International Data Corp said. Last but not least, startups and enterprises can now enhance their brand engagement by partnering with YourStory and advertising on our YS Buzz and Weekly Wrap newsletters. Click [here]( to know more. In today’s newsletter, we will talk about - Capria’s AI push for portfolio startups - Another profitable exit for SoftBank - Protecting women against cyber-bullying Here’s your trivia for today: Which countries still have the Shilling as currency? --------------------------------------------------------------- Venture Capital Capria’s AI push for portfolio startups Gen AI will be a key determinant for the success or failure of a startup in the near future, believes Will Poole, Managing Partner at early to growth stage venture capital firm, Capria Ventures. The firm, which announced the close of its $100 million Fund II in September, has been working closely with its portfolio companies to implement Gen AI-led solutions to increase the Total Addressable Market and efficiency. Being efficient: - Last September, Capria merged with its Indian counterpart, Unitus Ventures. It now has over 350 startups in its portfolio across India, Southeast Asia, Latin America, the Middle East, and Africa. - From its latest fund, the firm plans on backing 20-25 early growth-stage tech startups. - According to Poole, Gen AI will help democratise access to the internet for non-English speakers, opening up information, commerce, and other interactions, especially in the Indian context. [Read More]( --------------------------------------------------------------- Funding Alert 1) Upswing Financial Technologies: $4.2M| Pre-Series A 2) Fetcch: $1.5M| Undisclosed 3) Medial App: $120,000| Pre-Seed --------------------------------------------------------------- Investment Another profitable exit for SoftBank Group has fully divested from insurtech platform Policybazaar (PB Fintech Ltd), yielding a more than three-fold return on its investment. The Masayoshi Son-led investment giant poured about $199 million over the years into the insurance aggregator platform and exited the company with more than $630 million for its troubles. The CapTable looks at the story beyond the headline. Key takeaways: - SoftBank’s banner exits on Zomato and PB Fintech come when the Japanese investment giant is preparing for more partial exits in India. Three of its Indian portfolio companies—Ola Electric, FirstCry, and Swiggy—are eyeing public listings in 2024. - While Ola Electric and FirstCry have already filed their draft papers with SEBI, Swiggy—yet to publish its draft prospectus—has appointed seven investment banks and is planning to raise more than $1 billion from its public listing slated to happen later this year. - A majority of SoftBank’s investments in the country came after 2015, and the investor has not cut a single cheque since mid-2022, focusing on monetisation instead. [Read More]( --------------------------------------------------------------- YourStory invites India's most promising D2C brands to apply for '100 Challenger Brands of India'. This initiative offers more than recognition; it's a chance to propel your brand at the Brands of New India Mega Summit. Benefits include elevating your brand's profile, unlocking growth opportunities, connecting with VCs, gaining media exposure, accessing exclusive deals, and receiving expert mentorship. Join this platform to shape the future of India's D2C sector. [List your brand today]( --------------------------------------------------------------- Inspiration Protecting women against cyber-bullying two decades of using the internet for work and expression, Sanjukta Basu, a Delhi-based feminist researcher, journalist, and gender consultant, has joined hands with the Centre for Media Studies (CMS) and UNESCO to offer the country a training manual titled ‘Promoting Online Safety of Women Journalists in India'. Basu, who has authored the manual, delves into the important aspects that constitute gender trolling and their impact on women’s online space and identity, the legal frameworks available to them, the roles and responsibilities of stakeholders, and training tools and activities. Online safety: - The manual also quotes Ritu Kapur, Founder, The Quint, experiencing online and offline harassment, wherein she talks about how trolling feels almost the same as sexual harassment faced in the workplace or on the street. - It defines trolling and the history of cyber hate—the kind the internet enables alongside free speech, the reasons behind this violence, and who the stakeholders who are supposed to make the internet safer for women are. - Basu believes women should keep in mind the laws related to defamation, sedition, hate speech, those against provoking enmity between two communities, obscenity and other media laws that are applicable to print, electronic, and digital platforms. [Read More]( --------------------------------------------------------------- From the CapTable Losses down 65%, Cars24 takes massive leap towards profitability At a time when the organised used car market in India is experiencing a phase of consolidation, with both venture-backed startups and car manufacturer-owned platforms shifting their focus towards profitability, Cars24 appears to have stolen a march on its rivals.Last week, the used car marketplace filed its results for the year ended March 2023 in Singapore, where the company is domiciled. While its revenue from operations grew by only 16.4% year-on-year to Rs 7,721.5 crore, the company’s annual losses shrunk by 65% to Rs 1,218 crore during the period.For context, CarDekho, Cars24’s closest competitor, saw revenue grow by 46% to Rs 2,331 crore, while its losses more than doubled to Rs 562 crore during the same period. Traditional used car platform Mahindra First Choice, meanwhile, grew its topline by 30% to Rs 1102 crore even as its losses climbed 249% to Rs 111 crore.Now, with profitability seemingly within its grasp, there appear to be indications that Cars24 may well be getting all its ducks in a row in a bid to tap India’s public markets—an ambition the company has harboured for the better part of three years now. [Continue Reading]( --------------------------------------------------------------- News & Updates - [Approval:]( Cryptocurrency exchange Gemini has been awarded crypto registration to launch its services in France, the company told CNBC exclusively. The firm, founded and owned by twins Tyler and Cameron Winklevoss, said it was approved as a virtual asset services provider by French markets watchdog Autorite des marches financiers (AMF). - [Big slump:]( China’s population decline has accelerated, with a second year of record-low birthrates. The total number of people in China dropped by 2.75 million—or 0.2%—to 1.409 billion in 2023, the National Bureau of Statistics said on Tuesday. - [Price cut:]( Tesla on late Tuesday trimmed prices for its Model Y cars across several countries in Europe, a week after announcing similar price cuts for its Model 3 and Model Y cars in China. The company reduced prices on its cars sold in Germany, France, Norway, and the Netherlands. After a massively successful first edition, TechSparks, India’s most influential startup-tech conference, is returning to the country’s financial capital for a spectacular second edition from February 29 to March 1, 2024 at Grand Hyatt Mumbai. The event is expected to bring together more than 3,000 attendees, comprising 60% C-suite attendees; 49% early stage and growth stage founders; 21% decision makers at India’s leading enterprises and 10% reputed investors representing the ecosystem. Keen to come on board as a sponsor or partner? Get in touch with us with your requirements and we'll get back to you with further details. [Get In Touch]( Here's what else we have for you iStart Jodhpur Edition: A confluence to empower startups in Rajasthan in association with iStart Dive into the future of startups at iStart Jodhpur Edition on Jan 19, 2024, 11 am onwards! Join the conversation with industry leaders and reshape your entrepreneurial journey. Find out how these insights can fuel your startup success [Read More]( Did you know? Which countries still have the Shilling as currency? Answer: Four. Kenya, Uganda, Tanzania, and Somalia. We would love to hear from you! To let us know what you liked and disliked about our newsletter, please mail nslfeedback@yourstory.com. If you don’t already get this newsletter in your inbox, [sign up here](. For past editions of the YourStory Buzz, you can check our [Daily Capsule page here](. [Feedback]( [Unsubscribe]( [Newsletters](