AltiusHub Secures $2.25M Seed Funding to Enhance Supply Chain Visibility

Manufacturing supply chain visibility software AltiusHub has raised $2.25 million in seed funding, led by Endiya Partners with participation from other investors. The funds will be used to strengthen its engineering team and hire industry-specific senior talent.

Founded in 2023 by Siddharth Reddy and Abiram Vijaykumar, AltiusHub aims to help manufacturing companies, particularly in the pharmaceutical sector, secure their supply chains. The company’s SaaS platform enables pharmaceutical firms to track and trace products throughout the production process, ensuring compliance with global regulatory standards such as US DSCSA, EU FMD, UAE Tatmeen, and India’s iVeda.

AltiusHub’s software focuses on preventing counterfeit medicines from entering the supply chain by providing real-time visibility into the movement of products. It detects patterns and anomalies that may indicate counterfeit activities, and alerts users immediately of any irregularities or deviations, allowing for quick intervention.

The startup’s focus on the pharmaceutical industry comes at a crucial time, as counterfeiting remains a significant issue worldwide. The platform’s advanced tracking and tracing capabilities are expected to enhance product integrity and safety across the supply chain.

With the global track and trace market projected to reach $7.3 billion by 2026, AltiusHub is well-positioned to capitalize on the growing demand for secure and transparent supply chains. The new funding will further support its mission to help manufacturers safeguard their supply chains and meet regulatory compliance.

Amazon Appoints Samir Kumar as India Country Head Amid Quick Commerce Expansion Plans

Amazon has named Samir Kumar as its new country head for India. Kumar, who also oversees Amazon’s consumer businesses in the Middle East, South Africa, and Turkey, will succeed Manish Tiwary, who left the company in August 2023.

Kumar’s appointment comes as Amazon gears up to enter the quick commerce market in India, currently led by players like BlinkIt, Zepto, and Instamart. Amazon plans to launch this new venture in early 2025, signaling a strategic shift to meet growing demand for fast deliveries.

Amit Agarwal, Amazon India’s vice president, will work alongside Kumar in managing the company’s India operations. Both have a history of collaboration within Amazon, adding a layer of familiarity to their partnership in leading the company forward in this critical market.

Amazon’s entry into the quick commerce space reflects the company’s ambition to diversify its services in India, which has become a key battleground for e-commerce giants. This move comes at a time when rapid deliveries of groceries and essentials have become increasingly popular, fueled by changing consumer preferences and growing competition.

With Samir Kumar at the helm, Amazon will likely look to leverage his experience in other regions to navigate the complexities of the Indian market and establish itself in the quick commerce sector. The company’s expansion plans could reshape the competitive landscape, offering Indian consumers more choices and further intensifying competition among established players.

Apply For Funding -Active Venture Capital Firms List

India has become one of the favorite destination for tech start-ups and new ventures are being started daily. One of the reasons for this growth is the access to venture capital (VC) funding. For the startups, venture capital firms are also important because these firms help them in terms of funding, guidance, and connections. To the entrepreneurs, the choice of a proper VC firm can be a real game changer that will determine whether they will grow their business or will barely make it. It is a list of the “Active Venture Capital Firms for Startups in India” that has been focusing on the promising sectors and providing support to the startups that have been innovative and disruptive in their approaches to the market.

Helion Venture Partners

Helion Venture Partners is one of the leading VC companies in India that has played a critical role in the development of startups. Established in 2006, Helion targets the technology-enabled companies across the fields of consumer services, education, finance, and healthcare. Its portfolio has some successful start-ups such as Make My Trip, Big Basket, Housing and so on. com. Helion not only invests in the startups but also offers mentorship and management support to the firms in order to achieve their growth objectives.

Accel Partners

Accel Partners is one of the leading venture capital firms in the world and its Indian counterpart has been no less. Accel was founded in 2000 and has been invested in India since 2008; it has backed some of the most famous Indian startups like Flipkart, Swiggy, and Freshworks. The firm’s approach is that it engages the entrepreneurs in a very close manner from the initial stages right to when they are growing. The large network of Accel across the globe is a valuable resource for Indian start-ups targeting to go global.

Blume Ventures

Blume Ventures is one of the pioneering early-stage venture capital firms in India that has been investing in technology firms and new economy business models exclusively. Blume was founded in 2010 and to date has invested in more than 150 startups including Unacademy, Dunzo, Locus, etc. Blume Ventures is known for a very active approach, providing not only funding but also guidance, logistics, and contacts to the portfolio companies.

Sequoia Capital India

Sequoia Capital India is perhaps one of the most prominent venture capital firms active in the Indian startup environment. It has backed some of the most successful ventures of the present times, such as Zomato, OYO Rooms, and BYJU’S. Sequoia follows the approach of investing at various stages of a firm’s development from the initial stage to the expansion stage. The firm possesses vast industry knowledge, a vast network of connections across the globe, and sound operational base, which makes the firm ideal to work with most of the Indian startups.

Nexus Venture Partners

Nexus Venture Partners is one of the most famous VC firms that work both in India and the United States, so it can be considered as a sort of mediator for Indian startups. The firm targets companies that are in the start-up and growth phases in fields including technology, consumer and healthcare. Major investments made by Nexus include Delhivery, Snapdeal, and Druva among others. The firm is particularly noted for its focus on innovation and the support of young companies in the context of various challenges.

Inventus India

Inventus India is a Venture Capital Firm that invests in early stage technology companies. Inventus was founded in 2008 and has been instrumental to the success of many Indian startups such as PolicyBazaar, Power2SME and Sokrati. The investment strategy of the firm is anchored on identifying and backing exceptional entrepreneurs with a view of creating value added and sustainable enterprises. Industry knowledge and the large network that Inventus India offers is a great advantage when it comes to supporting the startups.

IDG Ventures

Chiratae Ventures earlier known as IDG Ventures is one of the leading venture capital firms in India majorly focusing on early and growth stage start-ups. The firm has invested in more than 80 companies and few of them are Myntra, FirstCry and Manthan etc. IDG Ventures has a sector focus in sectors including consumer technology, health care and fintech. The firm offers capital investment support, as well as business planning, management, and internationalization.

Eight Roads Ventures India

Eight Roads is a world-class venture capital company that has a strong focus on India. Some of the areas of specialization are healthcare, technology and consumer services. Some of the Indian innovative startups that are funded by Eight Roads are Shadowfax, Pharmeasy and BankBazaar. The firm is well recognized for the long-term partnership model which not only offers capital but also business advice, implementation help and connections to a vast array of professionals worldwide.

Naspers

Naspers is a global consumer Internet company and one of the world’s leading technology investors. In India, Naspers has been very active investing in startups in different industries such as e-commerce, fintech, and food delivery space. Its major funded companies are Swiggy, PayU, and Byju’s. Naspers has been associated with value-added investments and the capacity to assist startups grow and expand by using Naspers’ worldwide assets and knowledge of the industry.

Steadview Capital

Steadview Capital is an experienced and innovative investment company that focuses on public and private equity markets and companies. In India, some of the successful investments that Steadview has made are Ola, Nykaa and Zomato among others. Investment approach of the firm is long term and is aimed at creating value for the firm. Steadview Capital has its roots in extensive research, which enables startups to gain a solid ground and grow big.

Way2News Raises $14M in Series B to Expand in South India

Hyperlocal news platform Way2News secured $14 million in Series B funding led by WestBridge Capital. The funds will fuel expansion, technology upgrades, and scaling operations in South India. With 6.5 million daily users, Way2News delivers localized news in regional languages and competes with platforms like InShorts and Dailyhunt.

PhonePe Dominates UPI Market with Over 50% Share in August

PhonePe has captured over 50% of UPI transaction value and 48.36% of volume as of August 2024, according to NPCI. With 7.23 billion transactions worth ₹10.33 lakh crore, PhonePe leads competitors Google Pay (37.3% by volume) and Paytm (7.21% by volume) in India’s payments landscape.

PhonePe Dominates UPI Market with Over 50% Share in August

PhonePe has captured over 50% of UPI transaction value and 48.36% of volume as of August 2024, according to NPCI. With 7.23 billion transactions worth ₹10.33 lakh crore, PhonePe leads competitors Google Pay (37.3% by volume) and Paytm (7.21% by volume) in India’s payments landscape.