KaleidEO Space Systems Leads India's Space Revolution, More Startup News

KaleidEO Space Systems Leads India's Private Space Revolution with Indigenous Imaging Payload

In a significant stride for India's private space sector, Bengaluru-based startup KaleidEO Space Systems, a subsidiary of SatSure Analytics India, has independently crafted and tested a cutting-edge high-resolution optical earth observation payload. This achievement places KaleidEO among the elite few Indian companies to develop such advanced imaging technology from the ground up. Traditionally, payload manufacturing in India has relied on designs from the Indian Space Research Organisation (ISRO), making KaleidEO's feat a noteworthy advancement. With plans to launch four satellites by 2026, KaleidEO's breakthrough marks a pivotal moment in the evolution of India's space industry, empowering the nation to reduce dependence on costly foreign satellite imagery and fostering innovation in critical sectors like agriculture, urban planning, and infrastructure.

Mindgrove Technologies Launches India's First Indigenous Microcontroller Chip for Affordable Electronics

In a significant stride towards self-reliance in semiconductor technology, an Indian startup, Mindgrove Technologies, has unveiled the country's maiden microcontroller chip, Secure IoT. This breakthrough, supported by IIT Madras, promises to offer a cost-effective alternative for domestic electronics manufacturers, aligning with India's Make-in-India initiative. The RISC-V-based chip boasts 30% cost savings compared to existing options and targets various applications, including smartwatches, smart city devices, and electric vehicles. CEO Shashwath TR highlights the chip's focus on "right-sizing," prioritizing performance, flexibility, and affordability. Mindgrove's chip, clocking at 700 MHz, signifies a significant milestone in India's semiconductor landscape, enhancing innovation and production scalability.

Coromandel International Boosts Investment in Ecozen for Climate-Smart Solutions

Coromandel International has bolstered its investment in Ecozen, a climate-technology firm, injecting an additional Rs 24 crore. Through its subsidiary and venture capital arm Dare Ventures, Coromandel's stake in Ecozen has surged to 5.54% from 3.13%. Ecozen specialises in solar-powered irrigation and cold chain systems, leveraging IoT, AI, and energy storage to enhance agricultural yields and curb food wastage. With a turnover of Rs 274 crore in FY23, Ecozen eyes market expansion in Africa and Southeast Asia. Devendra Gupta, Ecozen's co-founder and CEO, expresses confidence in accelerating the adoption of climate-smart technologies.

Poshn Raises $4M in Pre-Series A Funding to Expand Global Footprint and Enhance Solutions

Poshn, a burgeoning foodtech startup, has successfully raised $4 million in equity and an additional $2 million in debt during its pre-series A funding round, spearheaded by Prime Venture Partners and Zephyr Peacock India. The infusion of capital will fuel Poshn's mission to fortify its innovative stack of solutions, aiming to bridge existing gaps within the food supply chain. Moreover, the startup intends to leverage these funds to embark on an expansion journey into global markets, particularly targeting Southeast Asian and Middle Eastern countries with lucrative import/export opportunities. With a full-stack approach geared towards simplifying complexities within the food distribution ecosystem, Poshn anticipates an exponential fivefold surge in revenue over the next two years, alongside aspirations of attaining profitability within the forthcoming 12 months. This milestone follows Poshn's previous equity raise of $4 million in a seed round, also supported by Prime Venture Partner and Zephyr Peacock in 2022.

Superplum Raises $15M to Revolutionize Fresh Fruit Supply Chains Across India

Superplum, an agritech startup renowned for delivering premium fresh fruits directly from Indian farms, has secured a significant boost of $15 million in a Series A funding round. Spearheaded by incoming chairman Erik Ragatz, formerly of Hellman & Friedman, this investment underscores Superplum's disruptive potential within India's produce markets. Leveraging proprietary technology and a robust cold chain infrastructure, Superplum ensures high-quality produce like mangoes, litchis, and cherries reach consumers nationwide. The funding will bolster infrastructure development, enhancing fruit supply chains across India. Noteworthy is Superplum's traceability system, enabling customers to access pesticide test reports and track fruit journeys. With a network spanning 22 states and partnerships with major retailers, Superplum eyes Mumbai's expansion and global market entry, addressing growing consumer demands while innovating fresh produce distribution in India.