Image Source: Ceinsys  

Funding Details

The funding round was led by Rare Capital, an American-based investment firm with great expertise in identifying key growth-oriented firms. Rare Capital invested Rs 125 crore (USD 15 million) in the funding program. The investment received is an affirmation of the belief investors are placing behind Ceinsys Tech’s future and its growth prospects.

The funds of Rs 235 crore will be used optimally to fund Ceinsys Tech’s growth strategies. It plans to transform itself by organic and inorganic routes, thereby trying for acquisitions and joint ventures to gain new areas of service specializations. Moreover, the funds will be directed to the improvement of the technological profile of the company, with focusing on sectors such as geospatial, engineering, and digital sectors.

 The Promoter and Chairman of Rare Capital, Sagar Meghe said, “By leveraging Ceinsys’s core expertise and being focused on high growth sectors like geospatial, engineering research and technology enablement services, have a high degree of confidence in the company’s ability to execute this growth strategy globally.”

Quotation Source: Rediff Moneywiz  

Vision and Leadership at Ceinsys Tech

Ceinsys Tech was founded in 1998. Ceinsys Tech is now among the leading technologies offering geospatial, enterprise, and engineering services. The company’s client base offers a wide range of markets such as utilities, infrastructure, Natural resources, and manufacturing markets. Based in India, Ceinsys Tech has offices in the USA, the UK, Singapore, and Germany Through smart technology and analytics, the firm provides effective solutions that facilitate operations and decision-making.

The managing Director and Chief Executive Officer Sagar Meghe along with other members of the leadership team of Ceinsys Tech is aimed at strategic development of the company. With the leadership of Meghe at Ceinsys Tech, has always aimed to create value for the clients by making sound investments and incorporating all kinds of technological changes while focusing on the customer needs. This latest round of funding proves it and co-founder/CEO Nadav Sharon’s leadership along with the company’s appeal to top-shelf investors. 

Global Market Expansion

Ceinsys Tech continues to expand its business driven by global demands for enhanced geospatial and engineering services. The company has recently purchased the business of USA geospatial organisation VTS which was another milestone in the international diversification process of the firm. This acquisition will help Ceinsys expand the range of services offered in North America and the rest of the world.

The geospatial and engineering solutions market especially over the globe looks like moving into a phase that will see greater penetration of digital technologies and efficient management of existing infrastructure. Based on market research, the geospatial analytics market likely registered a CAGR of 14.2% between 2021 and 2028. This growth is attributed to the increase in the uptake of LBS solutions, smart city projects, and the development of remote sensing technologies. 

Conclusion

The latest funding round of Rs 235 crore, managed by Ceinsys Tech, is a key achievement on its growth map. Rare Capital is among the leading investors in the firm which means the company will continue to grow its international outreach and improve its services. Ceinsys Tech has an active and valuable role in developing geospatial and engineering solutions for clients. It will be instrumental in determining the future direction of engineering solutions for the better value creation for stakeholders.

Scoopearth Team

Scoopearth team comprises a group of highly skilled professionals with expertise in their niche.  These  Team members have extensive experience in understanding and researching in topics such as startups, technology, artificial intelligence, trending business news, Listicles and  Case Studies . To maintain the highest quality standards, all articles are Manually  reviewed and verified by Niraj Kumar and Deepika Khare, ensuring accuracy, authenticity, and reliability.

Note: You can reach us at support@scoopearth.com with any further queries.

Linkedin Page : https://www.linkedin.com/company/scoopearth-com/

www.scoopearth.com/

Funding Details

Atlys’s Series B round of $20 million is a major achievement, occurring only a year after its previous funding round of $12 million, led by both Elevation Capital and Peak XV Partners. This ongoing investment cycle underscores investors’ solid belief in Atlys’ ambition and trajectory for growth. The financial resources will be put to use to enhance the company’s expansion strategy both within India and internationally, as well as to explore potential revenue streams connected to forex and insurance initiatives. 

As the company moves forward, it intends to attract elite talent primarily in product, engineering, and marketing to lead its expansion projects. Atlys will concentrate on broadening its range to encompass forex and insurance services, delivering a complete set of travel-related services to its users. 

Meeting the evolving needs of travelers

Atlys has seen remarkable expansion since its launch, with a 20 times growth in the number of users over the past year. The platform has grown its presence in important global markets such as the United States, the Arabian Union Emirate, and the United Kingdom. The growth of this sector is encouraged by the increasing need for efficient and seamless solutions for visa processing, particularly in India where activity in international tourism is growing.

The travel needs of today’s travelers are what Atlys focuses on primarily. The platform seeks to minimize the time and energy needed for visa applications, affording users a precise timeline for visa arrival and significantly speeding up processing timelines. The innovative solution offered by Atlys has found a connection with travelers, especially from Tier 2 and Tier 3 cities in India, which have seen a notable increase in outbound travel. 

The CEO of Atlys, Mohak Nahta said, “Since our last funding round we have grown 20X, we will be using funds from this round to continue our expansion strategy both in India and international markets. This will cross-selling opportunities as part of diversification strategy but our focus continues to be on visa processing. Our core focus remains on meeting the growing needs of travelers, particularly in India, where international tourism is booming.

A significant portion of this growth came from Tier 2 and Tier 3 cities, which contributed to 43 percent of the country’s outbound travel, reflecting a broader shift beyond metro-driven demand. More than 65 percent of growth is organic, no component of payment or cost there. India as a market is booming and we will continue to focus on that.” 

Quotation Source: MoneyControl  

Conclusion

The successful Series B funding round for Atlys proves the effectiveness of its innovative strategy and the rising need for efficient solutions for visa processing. Atlys is poised to maintain its growth and meet the evolving needs of modern travelers. Atlys’ dedication to simplifying the visa application process will undoubtedly be a key factor in shaping the future of international travel. 

Scoopearth Team

Scoopearth team comprises a group of highly skilled professionals with expertise in their niche.  These  Team members have extensive experience in understanding and researching in topics such as startups, technology, artificial intelligence, trending business news, Listicles and  Case Studies . To maintain the highest quality standards, all articles are Manually  reviewed and verified by Niraj Kumar and Deepika Khare, ensuring accuracy, authenticity, and reliability.

Note: You can reach us at support@scoopearth.com with any further queries.

Linkedin Page : https://www.linkedin.com/company/scoopearth-com/

www.scoopearth.com/

Mission of FluoRok

FluoRok was founded in 2022. FluoRok was founded at the University of Oxford and has a mission to revolutionize the creation of fluorochemicals. Fluorides are chemical compounds containing fluorine, a versatile element primarily used in the energy, healthcare, and agriculture sectors. Conventional methods of manufacturing fluorochemicals use hydrogen fluoride (HF), which is known to be lethal and dangerous for human health. FluoRok introduced a new technology that eliminates the need for HF and was, therefore, safer and more sustainable.

The CEO and founder of FluoRok, Dr. Gabriele Pupo said, “We are delighted to welcome BGF and Green Generation Fund along with Volta Energy Technologies to our investor base. Their experience of building successful break-through technology businesses in battery and sustainable technologies will be invaluable. With an outstanding investor syndicate to support us, we continue our mission to make fluorochemicals production safer, cheaper, and more sustainable.

This investment will play a huge part in our journey to scale and commercialise our proprietary technology with key partners across the global fluorochemical supply chain, and in accelerating the development of a technology that can provide a reliable and localised supply of a key component of Li-ion batteries.”

Quotation Source: Tech Funding News  

Funding Details

The funding round was supported by BGF, Green Generation Fund, and Volta Energy Technologies as a battery specialist. Other participating investors were Oxford Science Enterprises Investors the University of Oxford, Excellis Holding, and several angels. This diverse investor pool provides FluoRok with a wealth of experience and capital to achieve its strategic objectives.

FluoRok is set to utilize the £7.7 million funding to increase the company’s capacity for growth. The company’s intentions include the construction of new production facilities to accommodate the demand for its fluorinating reagents and LiPF6, a lithium-ion battery constituent.

FluoRok’s Patented Technology

FluoRok’s patented technology is a major improvement in methods of fluorination. Here the company has realized a process that is safer than the use of HF and that which is cheaper and friendly to the environment. The high demand from potential customers in strategic market segments such as Lithium-ion Battery Electrolyte Salts and Agrochemicals.

The approach is consistent with the increasing demand for effective and environmentally friendly chemical processes. The market for fluorochemicals has been estimated to be $24 billion. With FluoRok’s new technology, the firm will be unique in penetrating this market by offering environmentally friendlier chemistries. 

Team Growth

The expansion will also assist with growth, and offer FluoRok the ability to push into increased revenues for its patented technology faster. The innovative approach used by FluoRok has proved worthy and the company has received a lot of interest from potential customers in the identified core markets. The commitment of the company to sustainability and safety puts it ahead of other fluorochemicals firms to transform chemical manufacturing standards in the sector.

Conclusion

The recent £7.7 million funding round to FluoRok aims at changing fluorochemical production. FluoRok has the opportunity to revolutionize the chemical industry by creating a solution that is safer, more sustainable, and more cost-effective than current methods. 

Scoopearth Team

Scoopearth team comprises a group of highly skilled professionals with expertise in their niche.  These  Team members have extensive experience in understanding and researching in topics such as startups, technology, artificial intelligence, trending business news, Listicles and  Case Studies . To maintain the highest quality standards, all articles are Manually  reviewed and verified by Niraj Kumar and Deepika Khare, ensuring accuracy, authenticity, and reliability.

Note: You can reach us at support@scoopearth.com with any further queries.

Linkedin Page : https://www.linkedin.com/company/scoopearth-com/

www.scoopearth.com/

Celera Diagnostics is a developer of diagnostic testing and personalized medicines. The company develops and manufactures diagnostic products to detect, monitor, characterize, and select the best treatment for the disease. The diagnostic firm also provides its services in radiology and pathology. The Redcliffe Lab’s board passed a resolution to acquire shares worth Rs 60 crore in the startup. Celera Diagnostics provides services including MRI, ultrasonography, CT scans, and other specialty services in neurology, and gastroenterology. 

The startup already has a strong market presence in the health tech sector and expects to close the deal this year. The company plans to businesses while bringing their technologies, clients, and innovative diagnostic solutions together. The acquisition will help Redcliffe Labs enhance its capability by integrating Celera’s clients, network, and solutions. Redcliffe Labs is an online platform that allows users to book home-based diagnostic tests and lab services.  The company worker will collect the sample from home and based on reports the doctor will offer consultation service for personalized medicines.

The startup secured around 113 million USD across three funding rounds since its inception, including $42 million raised from IFU and others during its series C funding round. After this acquisition, the companies will have increased resources, more innovative diagnostic solutions, and a larger workforce. Redcliffe Labs faces competition from other diagnostic service platforms such as Dr Lal PathLabs, Orange Health, and Metropolis India. Redcliffe Labs acquired Celera Diagnostics to strengthen its position in the health tech and diagnostic testing sector while offering innovative solutions.

Entrackr reported that Celera Diagnostics reported a revenue of Rs 25 crore in FY23. However, the profit was around Rs 1.5 crore in the same duration. Redcliffe Las recently acquired the Prime Sonography and Diagnostic Center. The founder of Redcliffe, Dheeraj Jain mentioned that the company aims to acquire diagnostic labs with strong financial growth to boost cash flow and profitability. The company plans to maintain its profits by minimizing its losses and acquiring profitable companies. 

Conclusion :

Redcliffe Labs announced its plans to acquire the diagnostic testing lab Celara Diagnostics for Rs 60 crore. The acquisition was a part of the firm’s plan to strengthen its presence in the health tech sector. This investment is an initiative to merge the companies to introduce more innovative diagnostic solutions and maintain profitability.

The health tech firm is focused on acquiring labs with strong financial performance to boost cash flow and profitability. This acquisition will enable Redcliffe Labs to strengthen its market presence in the diagnostic market and enhance its services. The development came just after Redcliffe Lab secured $42 million during its series C funding round from the investment firm IFU.  

Scoopearth Team

Scoopearth team comprises a group of highly skilled professionals with expertise in their niche.  These  Team members have extensive experience in understanding and researching in topics such as startups, technology, artificial intelligence, trending business news, Listicles and  Case Studies . To maintain the highest quality standards, all articles are Manually  reviewed and verified by Niraj Kumar and Deepika Khare, ensuring accuracy, authenticity, and reliability.

Note: You can reach us at support@scoopearth.com with any further queries.

Linkedin Page : https://www.linkedin.com/company/scoopearth-com/

www.scoopearth.com/

The company will use some of this investment to enhance its technology and introduce new products. Sharang Shakti is a surveillance robotics company that provides airspace security and airborne threat migration solutions. The startup is developing its first product, an anti-drone system to track, detect, and neutralize hostile drones.

This marks the first funding round for the company since its inception. The data intelligence platform, tracxn mentioned that the startup had no institutional investor before this round. The defense tech firm is focused on developing a comprehensive technology stack to build a wide range of robotic systems for defense purposes and build the next-gen Lockheed Martin from India. Entrackr reported.

The firm provides innovative solutions to offer airspace surveillance and track real-time insights. This investment will enable the startup to improve its performing capability and advance its technology. The Gurugram startup uses cutting-edge technology to provide innovative solutions. The development came just after the defense tech market saw increased investor interest.

The company faces competition from other AI-based airspace security solution providers such as Epirus, DroneShield, and Dedrone. According to tracxn, Sharang Shakti and its competitors have raised around $768 million in funding across 84 funding rounds.

The startup intends to use some of this fresh capital to enhance its resources, improve its product development, and improve its platform to offer the best user experience. The market research highlighted that the global Anduril industry is valued at 14 billion USD. This sector is expected to increase at a huge CAGR rate in the next few years.

This investment shows investor’s trust in Sharang Shakti’s market potential and business model. Earlier this month, a defense technology startup IndusBridge Ventures collaborated with the deep tech Venture builder based in the US, Fedtech to launch the I2A Launchpad program. The program aims to support dual-use startups in India.

Conclusion :

The airspace surveillance and airborne threat with security robotics providing defense tech startup Sharang Shakti secured Rs 5 crore in its pre-seed funding round. AUM Ventures and Venture Highway co-led the round with the participation of JK Group’s Family Office and angel investors. The startup intends to use this fresh capital for product development, to scale its operations, enhance its platform, and develop a market presence.

The platform provides security robotics solutions for defense applications. The company claims to have an anti-drone system to track, detect, and neutralize hostile drones. The market research showed the valuation of the Anduril industry at $14 billion. Sharang Shakti competes with other airspace security providers like Dedrone.

Scoopearth Team

Scoopearth team comprises a group of highly skilled professionals with expertise in their niche.  These  Team members have extensive experience in understanding and researching in topics such as startups, technology, artificial intelligence, trending business news, Listicles and  Case Studies . To maintain the highest quality standards, all articles are Manually  reviewed and verified by Niraj Kumar and Deepika Khare, ensuring accuracy, authenticity, and reliability.

Note: You can reach us at support@scoopearth.com with any further queries.

Linkedin Page : https://www.linkedin.com/company/scoopearth-com/

www.scoopearth.com/

All three members behind the project

Sam Altman has great experience with innovation. He is the CEO of OpenAI. He has been promoting AI research and development. He is aimed at improving the qualities of intelligent machines. Jony Ive, the former Chief Design Officer for Apple, is arguably one of the designers who has greatly impacted the industry by coming up with designs that include iPhone, iPad, and MacBook.

His concepts focus on design elements by looking at the objects’ elegance, and simplicity. It also enhances the overall usability of technology. Lauren Powell Jobs is a businesswoman and a philanthropist. She is the CEO of Emerson Collective, a non-profit company. She has engaged herself in several ventures addressing social change and innovation.

Collaboration and Involvement of Laurene Powell Jobs

According to reports, the idea for this new artificial intelligence device company came about from numerous meetings that Altman and Ive had together. These talks focused on the possibilities of generative AI and how it could be employed to produce a novel type of computing device. The aim is to create a product that gives a less socially disruptive computing experience concerning the current smartphones on the market.

The involvement of Laurene Powell Jobs, the Emerson Collective is a significant investment partner and greatly strengthened the collaboration. To achieve a figure of up to $1 billion by the end of the year, this collaborative effort aims to support the development of an innovative AI device. 

Design Philosophy behind the project

The design firm that Jony Ive launched LoveFrom, is solely responsible for designing the new AI device, and the product is expected to have a great design and be very practical. This concept is further brought out in the design approach of this project where the design relates the users with technology more naturally. This approach is therefore different from other contemporary devices that require users’ attention most of the time and can be socially invasive.

Redefining the AI device landscape

The collaboration of Sam Altman, Jony Ive, and Laurene Powell Jobs can hopefully revolutionize AI devices. Having Sam Altman with his knowledge in AI, Jony Ive as a master designer, and Laurene Powell Jobs with a focus on social impact, the new company aims to invent a product that brings improvement in the area of technology and helps overcome some of the issues arising with the tech progress.

Another objective of the current project is to develop a device to better interpret elaborate queries and interact more like a human being. This could open up a new age of computing where instead of simply being functional devices or equipment the computers become companions that help improve our lives. 

Conclusion

The partnership of Sam Altman, Jony Ive, and Laurene Powell Jobs can be considered a breakthrough idea for totally advanced AI devices. This is a chance to produce a product that would help develop technology while solving some of the issues that come with its application. 

Scoopearth Team

Scoopearth team comprises a group of highly skilled professionals with expertise in their niche.  These  Team members have extensive experience in understanding and researching in topics such as startups, technology, artificial intelligence, trending business news, Listicles and  Case Studies . To maintain the highest quality standards, all articles are Manually  reviewed and verified by Niraj Kumar and Deepika Khare, ensuring accuracy, authenticity, and reliability.

Note: You can reach us at support@scoopearth.com with any further queries.

Linkedin Page : https://www.linkedin.com/company/scoopearth-com/

www.scoopearth.com/

G6 Hospitality is a parent company of Motel 6 and offers hotels and transportation services. The Studio 6 and Motel 6 brands were acquired by Blackstone for $1.9 billion from the French hotel company, Accor in 2012.  The Motel6 operates over 1,450 hotels across Canada and the US. Studio 6 claims to have around 200 properties.

The deal is expected to close by the last quarter of 2024 after the hospitality major acquire the firm from Blackstone Real Estate.  The agreement includes both the subsidiaries Motel 6 and Studio 6. The startup already has a strong market presence in the hospitality sector and it expects to close the deal in the last quarter of this year. The company focuses on merging businesses and bringing their technologies, clients, and solutions together.

The acquisition will help Oyo enhance its capability by integrating G6 hospitality’s clients, network, and strategy. Oyo is an online booking platform that allows users to register for transportation or accommodation in various locations. The hospitality startup secured around 3.41 billion USD across nineteen funding rounds since its inception, including $175 million raised from InCred Wealth and others during its series G funding round. The company also plans to refile its draft IPO paper. After this deal, the companies will have increased resources and a larger workforce. OYO competes with other companies in the same segment such as Treebo, and RedDoorz.

Entrackr reported that Motel 6’s franchise network generated around 1.7 billion annual gross revenue.  Oyo launched around 100 properties in the US last year. The firm aims to add 250 more in the ongoing calendar year. Oyo reported a 1.4 percent decrease in operational revenue to Rs 5,389 crore in FY24. However, the profit after tax was around Rs 239 crore in the same duration. The company plans to maintain its profits by minimizing its employee benefits. Oyo acquired G6 Hospitality to strengthen its position in the hospitality sector while offering innovative solutions. 

Conclusion :

Oyo announced its plans to acquire the operator of Motel6 and Studio6, G6 hospitality for $525 million through an all-cash transaction deal. The acquisition was a part of the firm’s plan to strengthen its presence in the hospitality sector. This investment is an initiative to merge the companies to introduce more innovative hospitality solutions.

The hospitality major focuses on expanding its services. This acquisition will enable Oyo to enter the European hospitality market and enhance its services. The development came just after OYO closed its $175 million funding round from Incred and other investors. Oyo has made various acquisitions in the last few years to expand its business in the US and Canadian markets. 

Scoopearth Team

Scoopearth team comprises a group of highly skilled professionals with expertise in their niche.  These  Team members have extensive experience in understanding and researching in topics such as startups, technology, artificial intelligence, trending business news, Listicles and  Case Studies . To maintain the highest quality standards, all articles are Manually  reviewed and verified by Niraj Kumar and Deepika Khare, ensuring accuracy, authenticity, and reliability.

Note: You can reach us at support@scoopearth.com with any further queries.

Linkedin Page : https://www.linkedin.com/company/scoopearth-com/

www.scoopearth.com/

Aim of Big Bang Boom Solutions (BBBS)

BBBS was founded in 2018. BBBS has become an important part of the defense technology scene. The company focuses on making advanced solutions in artificial intelligence (AI) electronic warfare, and nanotechnology. BBBS aims to boost India’s defense capabilities and leads the way in creating home-grown tech to tackle key security issues.

Funding Details

A group of well-known investors, like Mumbai Angels Network, Vyom Family Office, SBI Startup Branch Chennai, and Asquare Investing, led the latest funding round. Negen Wealth handled the investment process showing how much investors believe in what BBBS wants to do and can achieve.

The CEO of BBBS, Praveen Dwarakanath, stressed how crucial long-term funding is to build a defense business. He pointed out the company’s special way of moving capital around. This approach aims to give investors chances to exit at the right time while making sure the company keeps growing and creating value. They designed this plan to create a lasting brand that can change India’s defense sector for the better.

The CEO of BBBS, Praveen Dwarakanath said, “Building a defense business requires patient capital. But expecting investors to have a 25-year horizon is a pipe dream. We therefore looked at the problem through a different lens. We decided to rotate the capital table eight times in 25 years, giving investors timely exits and an option to stay on. This can help build a company that can be a legacy brand and add real value. It is better to underprice a round than leave little on the table.”

Quotation Source: Entrepreneur  

The Anti-drone System of BBBS

BBBS has taken big steps in coming up with new defense tech. Its homegrown anti-drone technology stands out as one of the company’s main projects getting attention and backing. In March 2024, BBBS secured a 200 crore rupee deal with India’s Defense Ministry for this tech, which was a great win for the company.

The anti-drone systems BBBS makes are built to spot, follow, and stop drones that shouldn’t be there offering a strong answer to the growing danger of drone attacks. These systems use cutting-edge AI math and electronic warfare methods to make sure they work well and can be trusted. Besides anti-drone tech, BBBS works on other groundbreaking projects. The company aims to develop core intellectual property to shake up the defense scene. Dr. R Shivaraman CTO of BBBS, rectified the need to balance research with making funds to grow.

The CTO of BBBS, Dr R Shivaraman said, “While R&D is in our DNA, and we will do what it takes to transform the landscape of Indian defense, we are clear that the timeline to monetization must go hand in hand with adequate creation of core intellectual property. Credit is also due to the government, DDP’s flagship iDex initiative, and the Indian Armed Forces, who have envisioned the policies that have enabled this transformative growth.”

Quotation Source: Entrepreneur  

Conclusion

The INR 250 crore funding round is a big step for Big Bang Boom Solutions and India’s defense tech industry. This new fund puts BBBS in a good spot to speed up its new ideas and bring its advanced solutions to market. As the company keeps improving its tech and building key partnerships, it’s ready to boost India’s defense abilities and help with global security problems. 

Scoopearth Team

Scoopearth team comprises a group of highly skilled professionals with expertise in their niche.  These  Team members have extensive experience in understanding and researching in topics such as startups, technology, artificial intelligence, trending business news, Listicles and  Case Studies . To maintain the highest quality standards, all articles are Manually  reviewed and verified by Niraj Kumar and Deepika Khare, ensuring accuracy, authenticity, and reliability.

Note: You can reach us at support@scoopearth.com with any further queries.

Linkedin Page : https://www.linkedin.com/company/scoopearth-com/

www.scoopearth.com/

Image Source: Caixin Global  

Funding Details

Sky Ventures and Areo Capital led the recent funding round of Vertaxi. The $28.3 million raised will be used to further research and development at Vertaxi, add more engineers, and accelerate the means of final certification of its eVTOL aircraft. This funding round also saw participation from several strategic investors, highlighting the growing confidence in Vertaxi’s vision and technological capabilities.

Emphasis on Sustainability

Vertaxi flying cars combine advanced aerodynamics, clean fuel propulsion solutions, and highly integrated safety features for the ultimate urban mobility experience. The firm’s flagship model, the Vertaxi V1, features quad redundant systems that are designed to promote safety and reliability. The automaker says it can cover 150 kilometers (93 miles) between charges and reach a top speed of 200 kph (124 mph).

The V1 can take off and land vertically, making it suited to working in urban environments where space is often at a premium. Sustainability is also a key feature of Vertaxi due to its technological background. Electric batteries power the V1 making it more ecologically-friendly than standard combustion engine vehicles. 

Strategic Partnerships and Market Potential

Analysts continue to forecast a multi-billion-dollar industry over the next decade or so, with a huge market for flying cars. The market expectation is that Urban Air Mobility (UAM) solutions such as those proposed in Vertaxi can be important in unblocking urban traffic and increasing environmental gains due to reduced travel times. Vertaxi is also preparing for this, as major cities around the globe are looking into introducing eVTOL vehicles into their transportation matrix.

Vertaxi is updating its Board and Management after Strategic Discussions with Industry Stakeholders in Aviation and Transportation Industries The company has already secured partnerships with leading aerospace manufacturers and technology providers to take advantage of their experience and resources. 

Future Prospects

Vertaxi plans to start flying in major metropolitan areas by 2026. Vertaxi is also looking at making its international debut in European, and Asian markets where congestion has reached alarming levels. Vertaxi is also looking at the early adoption of cargo delivery services throughout its eVTOL technology to deliver efficient and sustainable logistic timelines in addition to passenger transportation.

Conclusion

The $28.3 million investment round is a significant milestone for Vertaxi. It demonstrates that investors are willing to put their skin in the game. With this new capital, Vertaxi is poised to advance its eVTOL vehicles one step closer to making urban air mobility a reality. With the company still working to refine its technology and partnerships in place, the future of urban transportation is beginning to appear brighter than ever with flying cars becoming more common in our city skies. 

Scoopearth Team

Scoopearth team comprises a group of highly skilled professionals with expertise in their niche.  These  Team members have extensive experience in understanding and researching in topics such as startups, technology, artificial intelligence, trending business news, Listicles and  Case Studies . To maintain the highest quality standards, all articles are Manually  reviewed and verified by Niraj Kumar and Deepika Khare, ensuring accuracy, authenticity, and reliability.

Note: You can reach us at support@scoopearth.com with any further queries.

Linkedin Page : https://www.linkedin.com/company/scoopearth-com/

www.scoopearth.com/

The company aims for inorganic expansion, improving its content, and entering the K-12 market segment while merging with community-based education platforms. This will be the third funding round for this startup in the past two years. This edtech startup previously secured 150 million USD in its fresh funding round from GSV Ventures and Westbridge.

After this round, the company reported a 2.5 times increase in its valuation to $2.8 billion. The startup data intelligence platform, the kredible mentioned that WestBridge holds the largest external stake with 2.4 percent followed by GSV ventures with 1.44 percent, and the two co-founders account for the remaining 86.54 percent stake of the company.

Physics Wallah provides an online platform offering coaching services for IIT/JEE, data science, Management, Law, and Technology related fields. The company also has offline educational institutes, schools, colleges, and upskilling programs for students across India. The startup claims to have offered education to over 46 million students through its 112 YouTube channels in five languages. The company reported the app was downloaded 30 million times with 5.5 million paid students. The online teaching platform offered by the start-up uses advanced technology to provide the best learning experience. The edtech firm aims to expand its offline brand presence in multiple cities across India.

The Edtech startup posted a 3.3 times increase in its revenue to Rs 779 crore in FY23. However, the profit saw 90 percent decrease to Rs 8.87 crore in the same duration. The company expects revenue of around Rs 2,000 crore for FY24. The development came just after the edtech startups saw increased investor interest. The data from thekredible mentioned that the startups in this sector have raised around $160 million across 27 deals till now from the start of this year.  The edtech sector posted overall funding of 456 million USD in 2023. Physic Wallah faces competition with other online coaching platforms such as Byjus, GoStudent, and Vedantu.

Conclusion :

Edtech startup Physics Wallah secured 210 million USD in its series B funding round from Hornbill Capital with the participation of GSV, WestBridge, and Lightspeed Venture Partners. The startup plans to use these fresh proceeds to scale its operations, enter into the K-12 segment, expand its network, and increase its customer base.

This will be the third round of investment of this Noida-based startup in the last two years. Before this round, WestBridge was the largest stakeholder of the firm with a 2.4 percent stake while the co-founders accounted for 86.54 percent of the company. Following this round, the startup reported a valuation of $2.8 billion.

Scoopearth Team

Scoopearth team comprises a group of highly skilled professionals with expertise in their niche.  These  Team members have extensive experience in understanding and researching in topics such as startups, technology, artificial intelligence, trending business news, Listicles and  Case Studies . To maintain the highest quality standards, all articles are Manually  reviewed and verified by Niraj Kumar and Deepika Khare, ensuring accuracy, authenticity, and reliability.

Note: You can reach us at support@scoopearth.com with any further queries.

Linkedin Page : https://www.linkedin.com/company/scoopearth-com/

www.scoopearth.com/