3SC Secured Rs. 31 Crore in Funding, BEYOBO Raises Rs. 6.7 Crore

3SC Boosts Supply Chain Solutions with Rs. 31 Crore Funding

Gurugram-based SS Supply Chain Solutions (3SC) has secured Rs 31 crore in fresh funding from existing investors GEF Capital's South Asia Growth Fund. Founded in 2012 by Lalit and Sarita Das, 3SC offers comprehensive supply chain solutions across various industries and advanced analytics services. This investment will bolster its growth plans, focusing on service enhancement and operational scalability to meet rising market demands. The fundraising involved issuing 31,00,000 compulsory convertible preference shares at Rs 100 each, with GEF Capital's South Asia Growth Fund now holding a 66.27% stake in 3SC. With a successful Series B round in 2021 led by GEF Capital, 3SC aims to fortify its market position and expand supply chain management capabilities. This aligns with GEF Capital's strategy of supporting startups in the technology and sustainability sectors.

MIT Sloan Event: Startup Partnerships Reshape Tech Deployment, Sales Channels

Startups showcased at MIT Sloan's CIO event are teaming up with IT service providers and tech vendors to expedite technology deployment and widen their market reach. This trend, once more common among established firms, has gained traction among startups seeking to amplify product visibility and offer implementation services. Among the finalists at the 2024 MIT Sloan CIO Symposium's Innovation Showcase, data startups are notably partnering to accelerate technology adoption and broaden distribution. For instance, Palo Alto-based Modern Data Company collaborates with consultancies like ThoughtWorks to streamline data mesh adoption, reducing project timelines significantly. Similarly, San Francisco's Cleanlab automates data quality tasks, enabling consulting firms like Berkeley Research Group to pursue more AI and ML projects. Los Angeles' Pyte is forging alliances with technology vendors and consultancies, leveraging partnerships to simplify sales processes and enhance distribution channels.

BEYOBO Raises Rs 6.7 Crore to Boost Cross-Border E-Commerce Platform

BEYOBO, a B2B cross-border e-commerce platform, has secured Rs 6.7 crore in its pre-series A2 round, oversubscribed by 300 percent. The funding, led by Indian Angel Network, also saw support from International Startup Foundation and SAN Angels, among others. The capital infusion aims to expand the platform's offerings, bringing more international brands to India and enhancing its technological infrastructure. Founded by Anil Agrawal, BEYOBO serves as a conduit for Indian SMEs to import goods globally and facilitates foreign brands' entry into the Indian market. The platform has witnessed substantial growth, doubling its performance over the past year, with a diverse product range spanning cosmetics, electronics, and household goods.

Former Cruise CEO Launches Bot Company for Household Chores

Kyle Vogt, former CEO of Cruise, unveils a new VC-backed robotics startup, the Bot Company, focusing on household chores. The venture secured $150 million from investors including former GitHub CEO Nat Friedman and Stripe CEO Patrick Collison. Vogt, along with Paril Jain and Luke Holoubek, aims to alleviate time constraints by creating chore-performing bots. Vogt's reemergence in the tech scene follows his departure from Cruise amid regulatory issues. Previously, Vogt co-founded Twitch, acquired by Amazon, and Socialcam, acquired by Autodesk. The move reflects Vogt's persistent innovation in tech entrepreneurship.

OpenAI Startup Fund Secures Additional $5 Million in Funding Amid Leadership Transition

The OpenAI Startup Fund, now under Ian Hathaway's leadership, has secured an additional $5 million in funding, as per SEC filings. This marks the third round of funding for the venture, following previous rounds of $10 million and $15 million for SPV II and SPV III, respectively. With commitments totalling $175 million last year and a gross net asset value of $325 million earlier this year, the fund operates as a corporate venture capital entity, drawing investments from external limited partners, notably Microsoft. The fund has supported 16 startups to date, including Harvey, Ambiance Healthcare, and Figure AI, while also facing setbacks such as the closure of Ghost Autonomy. OpenAI is yet to comment on the recent development.