Piyush Goyal's New Silicon Valley of India - Indian Startup News 227
This is BwM's 227th Indian startup news video. Enjoy!
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00:00 New Silicon Valley of India
00:57 BHASKAR
1:28 IP Chatbot
1:47 Zomato Bans Gen AI Pics
2:47 Swiggy Project Next
3:29 Zepto SuperSaver
4:38 Myntra Quick Commerce
5:29 Bellatrix Aerospace Project 200
6:04 Dhruva Space & Manastu Space
6:35 Funding News
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New Silicon Valley of India
Piyush Goyal, India’s commerce minister, has a vision to build a 500-acre township dedicated to entrepreneurs, offering state-of-the-art infrastructure, incubators, and a strong funding ecosystem. Bengaluru, known for innovation, is dealing with infrastructure problems. This is one reason why Piyush Goyal wants the National Industrial Corridor Development Corporation (NICDC) to lead this project, which will be similar to smart cities like Dholera and Tumakuru. Imagine a city with all of Bengaluru’s startup perks but without its infrastructure issues. But which city will be the next Bengaluru—Pune, Hyderabad, Chennai, or somewhere else?
BHASKAR
Piyush Goyal also launched the Bharat Startup Knowledge Access Registry (BHASKAR), a digital platform connecting startups with investors, mentors, and tech enablers. Entrepreneurs from non-metro areas can access capital, technology, and resources, leveling the playing field. The platform already has 4.61 lakh registered members and offers opportunities for startup founders, students, investors, and mentors.
IP Chatbot
A new AI-powered trademark search module has been introduced, using artificial intelligence and machine learning to speed up trademark registrations. This will help startups secure their intellectual property faster, reducing legal hurdles and allowing entrepreneurs to focus on growing their businesses.
Zomato Bans Gen AI Pics
Zomato has banned AI-generated food images, acting on concerns raised by CEO Deepinder Goyal that these images mislead customers and lead to trust issues. While only 2% of their 276,000 restaurant partners currently use AI-generated images, Zomato is enforcing the ban and has developed tools to detect such images with 90% accuracy.
Swiggy Project Next
Swiggy’s “Project Next” aims to transition delivery partners into sales executive roles. In the last five weeks, 100 delivery partners have made the switch, onboarding 360 restaurants. Swiggy plans to expand this initiative to hundreds more across tier-2 and tier-3 cities. This project is part of Swiggy’s larger “Swiggy Skills Academy,” launched to upskill both delivery partners and their children, creating better career opportunities.
Zepto SuperSaver
Zepto has introduced a new "SuperSaver" service, offering free delivery on orders over 1,000 rupees with longer delivery times (20-30 minutes). Zepto is focusing on increasing its Average Order Value (AOV), currently around 400-500 rupees, by targeting customers placing bulk orders.
Myntra Quick Commerce
Myntra is testing 4-hour deliveries in cities like Bengaluru and New Delhi, a major improvement from their usual 2-3 day delivery times. While fast deliveries are common in groceries, it’s more challenging in fashion due to higher return rates. Myntra believes shorter delivery times will encourage faster purchases.
Bellatrix Aerospace Project 200 + Dhruva Space & Manastu Space
The Bengaluru Space Expo 2024 is showcasing over 250 space companies. Bellatrix Aerospace has announced "Project 200," a satellite bus designed for ultra-low Earth orbits, improving earth imaging and telecommunications. Dhruva Space, in collaboration with Manastu Space, revealed plans to test a green propulsion system on their LEAP-3 platform, which is expected to launch by 2025.
Funding News
This week, Indian startups raised $180M. Chennai-based M2PFintech, which provides API infrastructure for banks and fintech companies, raised $50M. Noida-based Redcliffe Labs, a diagnostics company making healthcare more accessible, raised $42M in their series C round. Everest Fleet, which leases vehicles to ride-sharing companies like Uber, raised $30M. In stealth mode, Billion Hearts raised $250K for a new consumer app. Lastly, Bookmybai, a marketplace for hiring maids, raised $240K in their pre-series A round.
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