The Kerala Funding Digest - May 2024
Here are the top funding updates from the Kerala Startup Ecosystem for the month of May 2024.
Agnikul launches Agnibaan SOrTeD, with the World’s first 3D Printed Semi Cryogenic Engine
Agnikul Cosmos has successfully launched their Agnibaan SOrTeD, powered by the world’s first single-piece 3D printed semi-cryogenic engine. We are incredibly proud of the resilience and determination demonstrated by Srinath Ravichandran, Moin SPM, Satya Chakravarthy, and the entire Agnikul team as they worked towards achieving this significant impact on space tech hardware in India.
US SaaS Fund Pienza Ventures to Invest & Accelerate Indian Startups
Jofin Joseph, a successful founder from Kerala has joined as a partner in a US-based SaaS fund that is now set to launch in India. Pienza Ventures, founded by Aaron Bird, CEO of Inflection.io, a US-based SaaS fund aims to assist Indian SaaS startups in succeeding in the US market. Jofin, was the founder of Profoundis, was later acquired by the US-based FullContact
VC-Backed Dockervision Automates Ports with AI, Driving Efficiency and Impact
Docker Vision, an AI-based port-automating solution, with their dOCR, they have been time-saving and increasing efficiency for port operations. Recently Dockervision secured pre-seed funding through venture capital firms Thinkuvate and SeaFund through SanchiConnect’s PreSeed Accelerator program. With the funding, the team aims to expand their brand.
Kerala Tech Startup Multiwoven Gets Acquired by US Company AI Squared
US-based AI Squared acquired Multiwoven, founded by Sujoy Golan, Nagendra Dhanakeerthi, and Subin Thattaparambil. With the acquisition, AI Squared will incorporate Multiwoven’s capabilities into its existing enterprise offering to help organizations integrate robust data and AI insights into business applications more efficiently.
Indian e-commerce Giant Flipkart gets Funded by Google
Google invests $350 million in Indian e-commerce giant Flipkart. Flipkart was founded by Sachin Bansal and Binsal in 2007. Flipkart now commands about 48% of the Indian e-commerce market, according to Bernstein. As part of the agreement, Flipkart is also deepening its collaboration with Google Cloud to strengthen its cloud infrastructure.
Upcoming Events at KSUM
BOOTCAMP on Cross-border B2B SaaS Sales
KSUM is organizing a one-day boot camp on cross-border B2B SaaS sales, led by Abilash Krishna, CEO of CareStack. The boot camp will provide insights for selling SaaS products internationally.