Bits and Bytes: Know about startup, business news in Pune
Pune-based mobility-aid startup Arcatron Mobility has raised INR 12.5 crore ($1.7m) in funding, which will be used to accelerate the growth of its 'Frido' brand of products. Bank of Maharashtra has launched its first dedicated branch for startups in Pune, and signed an MoU with SIDBI venture capital to proactively finance startups. Tissue regeneration startup Serigen Mediproducts raised INR 5.8 crore in a seed funding round, while Prozeal Infra Engineering raised INR 32.5 crore in its first funding round, and Simpliforge Creations has developed a prototype 3D-printed pedestrian bridge in collaboration with IIT Hyderabad.
Mobility-aid startup Arcatron Mobility raises ₹12.5 crore in funding
Pune: Arcatron Mobility announced that it has successfully raised ₹12.5 crore in funding. The investment round was led by the BL Taparia Family Office, with participation from co-investors Chona Family Office, MGA Ventures, and prominent angel investors Dhruv Toshniwal, Sudhakar Kale, Varun Bansal, and Venture Garage. Arcatron Mobility is the parent company behind ‘Frido’ brand of products that enhance activities of daily living by providing freedom from mobility issues. The new capital infusion will primarily be used to accelerate Frido’s growth, expand its product line, and explore new markets. Additionally, the funding will support the company’s continuous R&D efforts, enabling them to stay ahead of the curve and deliver cutting-edge mobility solutions to customers worldwide.
Bank of Maharashtra inaugurates its first dedicated branch for startups in Pune
Pune: Bank of Maharashtra (BoM) inaugurated dedicated branch for startups in Pune. BoM also signed a MoU with SIDBI venture capital for proactive financing of startups. AS Rajeev, MD & CEO, Bank of Maharashtra and Prashant Girbane, Director General, Mahraata Chamber of Commerce, Industries and Agriculture (MCCIA) inaugurated the startup branch at the Zonal Office on Fergusson College Road.
Tissue regeneration startup Serigen Mediproducts raises ₹5.8 crore
Pune: Serigen Mediproducts has raised ₹5.8 crore funding in a seed funding round from BioAngels (powered by IAN and BIRAC) and Colossa Ventures. The lead investors from BioAngels include Uday Chatterjee, Sri Prakash, Rishabh Mehta, Umakant Panwar and Anirudh Agarwal.
The round also witnessed participation from other prominent angel investors including Aadesh Harale, Anand Deshpande, Sanjay Dalmia, Shantanu Deshpande, and Priti Rao. The company will utilise the investment for business growth and rapid scaling of its manufacturing and sales verticals, team expansion and strengthening its intellectual property portfolio, stated Dr Anuya Nisal, Founder and CEO, Serigen Mediproducts
Prozeal Infra Engineering raises ₹32.5 crore fund round led by Alchemie Ventures
Pune: Prozeal Infra Engineering announced their first round of funding led by Chandrakant Gogri’s family office arm Alchemie Ventures. The $4 Million (approx. INR 32.5 Crore) investment is for a minority stake at an undisclosed valuation. The funds will be used to scale operations and execute developer-model projects for energy and utility companies. Manan Thakkar, co-founder at Prozeal, said, “India has made a climate change commitment of meeting 50 per cent of its energy requirements through renewable sources by 2030. This translates to 300 GW of installed solar power capacity by 2030, of which only 65 GW is installed today. Prozeal Infra has a vision to be a decarbonization and net-zero solution company for commercial and industrial MNCs, MSMEs and Government institutions supporting India’s sustainable energy goals.”
Simpliforge Creations develops 3D printed bridge
Pune: Rapid prototyping and manufacturing solutions provider start-up Simpliforge Creations has developed and printed a prototype 3D printed bridge in collaboration with IIT Hyderabad team. The concept of the bridge was developed following the concept of ‘Material follows Force,’ and designed as a pedestrian bridge. The prototype bridge is undergoing load testing and evaluation for functional use. Simpliforge Creations developed an extrusion and software system specifically for the project to fully exhibit the merits of their 3D printing system. Using the Industrial robotic arm 3d printer, the bridge was printed off-site at Simpliforge Printing facility and assembled on site at Charvitha Meadows, Siddipet. The concept and design were developed and evaluated by Prof KVL Subramaniam and his research group, Department of Civil Engineering, IIT Hyderabad.
Sangamwadi plot sold
Pune Birla Estates Private Limited, real estate arm of the Aditya Birla Group, housed under Century Textiles and Industries Limited, has entered the Pune residential real estate market by acquiring 5.76 acres of land in Sangamwadi, a central business district in Pune. The land was purchased from Sudarshan Chemical Industries Ltd (SCIL). This land parcel is located in one of the most premium locations in Pune with an estimated revenue potential of approx. Rs. 2,500 Cr,.according to press release shared by company.
New safety standards with in Global NCAP crash test
Pune Škoda Auto Volkswagen India’s sedans – Škoda Slavia and Volkswagen Virtus have achieved 5 star rating for both Adult Occupant Protection and Child Occupant Protection, the highest in the Global NCAP crash tests. With this feat, the Volkswagen Virtus and Škoda Slavia have set a new benchmark in the sedan segment in India. The achievement follows shortly after the Škoda Kushaq and Volkswagen Taigun received a similar 5-star safety rating in October 2022, making them the first India-made SUVs to do so.