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Aretto raises Ôé╣4.5 crore in seed funding

Pune-based Aretto has secured its seed funding round of Ôé╣4.5 crore from a clutch of angel investors and advisors, including cricketer Hardik Pandya; Abhineet Singh (co-founder of VegNonVeg and founder of Brewhouse), Shyam Raichura (MD of Aan Group), Raunak Munot (ex-CMO of Bombay Shaving Company), investment banking firm Veromint Advisors, Vinayak Shrivastav (co-founder Videoverse), and Kunal Sumaya (MD of Julius Bear). The company plans to utilize the funds to expand its market presence, drive team expansion, and increase research and development efforts to introduce newer product ranges. Satyajit Mittal, CEO Aretto commented, ÔÇ£Aretto is opening its first retail store in Pune.ÔÇØ

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TiE Pune wins award in global ratings

The Indus Entrepreneurs (TiE) Pune Chapter won the best chapter award in Category B at the TiE Global Charter Members programme held in Rio de Janeiro recently. The award winners were selected from TiE chapters of 61 cities across 14 countries by a committee consisting of TiE Global trustees ÔÇô past and present based on parameters including size of entrepreneurial ecosystem, charter member base and age of chapter. Vineet Patni, President Pune chapter, said, ÔÇ£As more and more companies chose India as their manufacturing hub, we will see more and more product related startups in near future. The diverse set of expertise and talent pool, Pune will continue to grow as a startup hub in all domains.ÔÇØ

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Shubhson Automotive acquires energy startup Fe

City-based Shubhson Automotive has acquired Yogtech Industries (Fe), a department for promotion of industry and internal trade (DPIIT) recognized energy startup, at a valuation of Ôé╣8.2 crore in a strategic equity plus cash deal. Mukul Potdar, co-founder, Shubhson Automotive, said, ÔÇ£With the EV charging aggregator platform ÔÇÿSwiftchargeÔÇÖ, Shubhson Automotive is driving transformation in electric vehicle experiences. Collaborating closely with dealers and partners, we are deploying domestically manufactured chargers along highways, cementing the groundwork for a widely accessible EV charging network.ÔÇØ

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Villgro, UNDP programme to accelerate women-led biz

Social enterprise incubator Villgro and United Nations Development Programme (UNDP) India launched ÔÇÿEmpower Her Journey,ÔÇÖ a programme to accelerate women-led businesses in India. The programme will support women entrepreneurs by bridging the financing gap and accelerating access to digital tools for enhanced market reach. Jenaan Lilani Bhargava, advisor, Villgro, said, ÔÇ£Applications for the programme are open to Indian enterprises founded or co-founded by women or having women in senior executive roles and have less than 5 years of operations in any sector. Startups at the ideation, pre-revenue, or revenue-generating stage can apply. The applications are open until August 30, 2023.ÔÇØ

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Serenity Wealth launches online wealth self-management toolkit

Serenity Wealth announced the launch of SereneKit DIY, a do-it-yourself online wealth management toolkit that helps users to create investment plans and manage investments that are self-customized to their individual risks and needs. SereneKit DIY is based on the framework of RRR ÔÇô required rate of return ÔÇô which, instead of unquantifiable promises of returns, guides investors towards estimating the minimum return on investment they need to seek for themselves based on self-defined risks. Ashish Khetan, founder, Serenity Wealth, said, ÔÇ£It is a tool to demystify and simplify wealth management amid the noise that investors generally encounter. The easy-to-use web-based application aims to simplify the process and empower investors to reach their financial goals with focus, confidence and clarity ÔÇô nothing less, nothing more.ÔÇØ

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ISF 2023: 30 investors pledge 125 term sheets

Indian Start-up Festival (ISF 2023) organized by the India Start-up Foundation witnessed 125 term sheets pledged by 30 investors. The top ten start-ups at ISF 2023 were: Arakruthu 3d Private Limited, Hiringhood, Renaissance Superfoods, Game On, Brewed Games, Endimensions, Metabrix, Flying Duck, Medyseva, and ICATTT. They won the cash prize and will also be mentored by sector-specific industry leaders. ISF convenor JA Chowdary said, ÔÇ£This will be a major boost to the startup ecosystem in the country. We have also signed MoUs with various global institutions to provide startups with mentoring and global market access.ÔÇØ ISF offered a platform to 600 students between the age group of 14ÔÇô21 to present their innovative ideas as a part of the Junicons contest. Ten ideas bagged cash prize and will be mentored by ISF.

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